Feb 25-Mar 3, 2007

~~~~~~~~~ [ Mar 3  ] ~~~~~~~~~

Israel Hardens its Peace Terms Ahead of Saudi Arab Summit [Mar 3]
"Israel has begun staking out its minimum conditions for any attempt by 'moderate' Arab regimes to advance a peace process with the Palestinians, in the apparent hope of influencing a Saudi-convened Arab summit later this month. Tzipi Livni, the Israeli foreign minister, told the Palestinian newspaper Al Ayyam that 'it was impossible to accept' the Saudi-inspired peace plan launched at the Beirut Arab League summit five years ago 'in its current formulation'.. ..The importance Israel has attached to the Riyadh summit, which will review and, according to Israeli sources quoted in Ha'aretz yesterday, possibly modify the peace plan, appeared to underline the increasingly pivotal importance of Saudi Arabia's King Abdullah in the diplomacy of the region.." [more]

Saudi Filmmaker Lacks Visa for Festival [Mar 3]
"A rare Saudi Arabian feature film will make its American debut at a film festival in Manhattan tomorrow night, but its director, unable to secure a visa in time, will remain in Riyadh, left to ponder the realities of artistic exchange in an era fraught with suspicion. 'I am sad that I could not be able to be in the United States to bridge the gap between the culture of our two societies, to know the people, and explain what is needed to be explained during my projection,” the director, Abdullah al-Muheisin, said in a telephone 
interview from Riyadh. His film, “Shadow of Silence,” is set in an unnamed Arab country, and follows the travails of a woman who enlists a group of Bedouin tribesmen to free her husband from a state institution set up, according to the festival summary, to “manufacture unthinking citizens'.." [more]

Saudi Telecom Signs $7m Deals With Sun Microsystems [Mar 3]
"The Vice President of the Saudi Telecom Company (STC) said that the company has signed two agreements with Sun Microsystems Inc. at a total value of nearly $7 million, Khaleej Times reported. The official pointed out that that the agreements appoint Sun as STC's major provider of IT infrastructure hardware, software, professional services and support needs. He added that the two companies are resuming previous cooperation in the field of telecommunications tecknology. Saudi Arabia represents a key market for Sun Microsystems, which has opened offices in Jeddah, Riyadh and Al-Khobar.." [more]

GCC Stock Markets Suffer SR3 Trillion Loss [Mar 3]
"Stock markets in Saudi Arabia and other Gulf Cooperation Council (GCC) states suffered a loss of SR3 trillion in the past one year as a result of crash, according to Majed M. Garoub, regional secretary-general of the International Federation of Lawyers for the Middle East. 'As a result of stock market debacle that began in February last year assets of Gulf shares fell by 60 percent. About 30 million Gulf citizens with a wealth of more than SR6 trillion are still going through a stock market crisis,”'Garoub said. The second Capital Market Forum in Dubai, which opens today, would be attended by a large number of international organizations. There are nearly 700 joint stock companies in the Gulf countries and 300 financial consultancy houses.." [more]

Ministers to Discuss GCC-IAEA Meeting Outcome [Mar 3]
"Foreign Minister Prince Saud Al-Faisal will chair on Saturday a meeting of foreign ministers of the Gulf Cooperation Council (GCC) to discuss the outcome of talks with the International Atomic Energy Agency (IAEA) over GCC plan to develop nuclear energy for peaceful purposes. “The ministers will assign a special committee to conduct a joint study on the program after IAEA expressed its readiness to provide technical support to carry out the preliminary feasibility study,” GCC Secretary General Abdul Rahman Al-Attiya said in a statement. Last month, the six-nation GCC and nuclear watchdog IAEA agreed to cooperate on a feasibility study on regional plans for a nuclear energy program.." [more]

~~~~~~~~~ [ Mar 2  ] ~~~~~~~~~

Egypt Mediates Between Saudi and Syria [Mar 2]
"Arab diplomats said Egypt is trying to mediate between Saudi Arabia and Syria to close their chasm ahead of the Riyadh Arab summit later this month. Diplomats in Cairo told United Press International that Egyptian President Hosni Mubarak spoke to Syrian President Bashar Assad after the first held talks with Saudi King Abdullah during a visit to Riyadh Wednesday. "Mubarak relayed to Assad the Saudi desire to see more positive Syrian stands towards efforts exerted by Riyadh to resolve the various issues in the region, especially the Lebanese crisis," said one diplomat on condition of anonymity. Saudi-Syrian diplomatic tension was triggered last summer when Assad sharply criticized Arab leaders who denounced Lebanon's Hezbollah abduction of two Israeli soldiers in a cross-border operation last summer, prompting a 34-day war.." [more]

Rare Visit by Iranian President to Saudi Comes at a Crucial Time [Mar 2]
"Iran's president will make a rare visit to Saudi Arabia, a major U.S. ally, to hold crucial talks with the Saudi monarch on several key issues of international and regional concern, an Iranian official said Friday. President Mahmoud Ahmadinejad will visit Saudi Arabia Saturday for talks with Saudi King Abdullah, Iran's ambassador to Saudi Arabia, Mohammad Hosseini was quoted as saying by the official Islamic Republic News agency. The trip suggests that weeks of talks between envoys from the two countries on the conflicts in Iraq and Lebanon have made some headway.." [more]

Murders of French Tourists Will Not Hit Ties [Mar 2]
"The recent murder of four French tourists will not affect the strong, deep-rooted Saudi-French relations, said an official at the Saudi embassy in Paris.. ..In press statements published yesterday, Waleed Qattan, head of political affairs section at the Saudi embassy in France, noted that the French media have expressed surprise of the terrorist attack following the significant success made by the Saudi security forces in containing terrorism in the Kingdom. He added that both French President Jacques Chirac and Foreign Minister Philippe Douste-Blazy have condemned the attacks and expressed confidence in the capabilities of the Saudi authorities in moving to arrest the killers and bring them to justice.." [more]

Saudi Arabia Expected to Cut Price of its Heaviest Crudes [Mar 2]
"Saudi Arabia will likely cut the price of its heaviest, fuel-oil rich crudes to Asian buyers for April as the fuel oil crack has weakened, traders said yesterday. Heaviest Arab Heavy crude could bear the brunt of the cuts. Its discount to Oman/Dubai could widen by up to 60 cents to a $5.20 discount, as Saudi Arabia is considered unlikely to further cut exports to Asia, traders added.. ..The front-month fuel oil crack to Dubai swaps has weakened by some $1.15 in February from January, as the tightening of supplies felt in January ahead of the Chinese New Year has eased, Reuters data show.." [more]

Saudi to Privatise its Cargo Business [Mar 2]
"Ahead of its planned privatisation, Saudi Arabian Airlines is planning to divide its company structure into five business units. The airline will also privatize its cargo business before the end of this year. The different business units will all perform air operating activities for different target markets. The units will be a low-cost carrier, a main carrier, a regional carrier, a carrier dedicated to transporting Muslim pilgrims who visit Islam's holiest shrines and another for VIPs and royal family members.." [more]

US-Saudi Trade Grows to $39.5b in 2006 [Mar 2]
"Trade between Saudi Arabia and the United States grew 16 per cent to a record 148.11 billion Saudi riyals ($39.49 billion) last year, compared to 127.52 billion Saudi riyals ($34 billion) in 2005. The trade balance remains heavily tilted in favour of Saudi Arabia with a surplus of 89.55 billion Saudi riyals which is an increase of 17 per cent compared to 2005 where the Saudi trade surplus with the US was 76.42 billion riyals. In 2006 also, the value of Saudi exports to the US touched 118.8 billion riyals compared to 101.9 billion riyals in 2005.. ..Saudi Arabia provides excellent growth opportunities for US companies in a number of diverse industries. Hernandez's mission aims at boosting business and investment ties between the two countries.." [more]

Authorities Haven’t Ruled Out Suspect in Monday’s Shooting [Mar 2]
"Saudi authorities have not ruled out that Waleed Al-Radadi, one of the Kingdom’s most wanted criminals, was involved in Monday’s shooting that left four French nationals dead, the daily Al-Watan reported yesterday. A source told the newspaper that authorities are looking for a green 1998 Nissan four-wheel drive that was used in the shooting.Al-Radadi’s name appeared on a list of most-wanted terrorism suspects released by the Interior Ministry in 2005, and is believed to be from the city of Madinah.. ..The newspaper reported that foreign companies operating in the Kingdom have increased their level of security, especially those operating in the region where the killings took place. Foreign missions in the Kingdom have issued updated warnings following the attacks.." [more]

JCCI Center for Women in Business to Host Forum [Mar 2]
"Princess Adilah bint Abdullah will host a forum sponsored by the Khadija bint Khuwailid Center for Businesswomen of Jeddah Chamber of Commerce & Industry (JCCI) on March 19-20 at the Jeddah Hilton Hotel. The forum, titled “The Reality of Women’s Participation in National Development” will focus on Muslim women in business. The event will highlight role models for Saudi women business executives and entrepreneurs.. ..The goal of the forum is to get feedback from some 1,000 expected participants in developing future projects to assist Saudi women in business.." [more]

Dammam on Bird Flu Alert [Mar 2]
"The Eastern Province has been put on a state of alert to prevent the outbreak of bird flu after the neighboring Kuwait confirmed seven more cases of the avian flu strain that is dangerous to humans, reported Al-Hayat Arabic daily Thursday. Director General of Agricultural Affairs in the Eastern Province Saad Al-Meqbel said research teams assigned to conduct serological examination on migratory and wild birds in their habitat in the region are working according to the emergency plan. 'The research teams are conducting a comprehensive survey of all types of migratory and wild birds. The teams have already surveyed all coastal areas in the Eastern Province from Ras Qaryia in the south to Khafji in the north'.." [more]

W H O Appreciates Kingdom’s Polio Eradication Drive [Mar 2]
"The World Health Organization (WHO) recently presented Saudi Arabia with a certificate of appreciation for its success in eradicating the poliomyelitis disease, commonly known as polio. 'This could not have been achieved without Allah’s assistance and the decent care and generous support of the government of the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz,' Health Ministry spokesman, Khaled Marghalani, told The Saudi Gazette. 'The Kingdom has not reported any cases of polio since 1995.” Marghalani said the Minister of Health, Hamad Man’e, will hold a ceremony in honor of the achievement Saturday. ." [more]

Key Facts on Iranian-Saudi Relations [Mar 2]
"Iranian President Mahmoud Ahmadinejad will go to Saudi Arabia on Saturday for talks on regional issues, an Iranian official said on Thursday. Iran's top nuclear negotiator Ali Larijani visited Saudi Arabia earlier in February for talks on Iran's nuclear energy program, which is opposed by the West and Saudi Arabia. Here are some details on the ups and downs of relations between the two countries over the last 20 years.." [more]

~~~~~~~~~ [ Mar 1 ] ~~~~~~~~~

Iranian President to Visit Saudi Arabia Next Week [Mar 1]
"Iran's President Mahmoud Ahmadinejad is expected in Saudi Arabia this weekend a Saudi Foreign Ministry official said Thursday of the visit that will cap weeks of intensive talks between the two countries to resolve simmering conflicts in the region. The Saudi official said Ahmadinejad will arrive Saturday for a one-day visit. He spoke on condition of anonymity because he is not authorized to give statements to the media. Iran's official IRNA news on Wednesday quoted Iran's ambassador to Riyadh, Mohammad Hosseini, as saying that Ahmadinejad's visit to Saudi was "imminent" but didn't give any further details.." [more]

Saudi Arabia, Yemen to Establish $100m Joint Investment Fund [Mar 1]
"The Yemeni Minister of Planning and International Cooperation announced that Saudi Arabia and Yemen have agreed to create a $100 million joint fund to carry out studies on investment opportunities between the two countries, Arab News reported. The minister, who was addressing a meeting at the Jeddah Chamber of Commerce and Industry (JCCI), said that the two countries have also agreed to form a Saudi-Yemeni committee as an initial step towards establishing the fund.." [more]

Profit-Taking Extends Saudi Losses [Mar 1]
"Saudi stocks fell for a third straight day yesterday with profit-taking and a global rout pulling the largest Arab bourse down 1.65%. The Saudi index, which ended its longest bull run in 18 months on Tuesday, closed at 8,176.37 points after trading more than 2.5% down for much of the session. Eight of the 10 largest stocks ended the day lower.Kuwait’s index edged down 0.17% to close at 9,752.60 points, paced by Kuwait Finance House.." [more]

Saudi Licence Offers Last Big Opportunity in the Gulf [Mar 1]
"The auction for the third Saudi Arabian mobile operator licence presents one of the last great opportunities for regional players that want to make a significant impact in the Gulf region.. ..The Saudi market is the largest in the region in terms of inhabitants, and has a relatively wealthy population whose demand for mobile services has yet to be saturated. The Saudi mobile market is already home to two of the region's largest players: domestic incumbent Saudi Telecom Company (STC) and UAE's Etisalat, through its 35% stake in Mobily.." [more]

Remittances Pour Out of Saudi Arabia [Mar 1]
"About 70 per cent of Saudi Arabia's $14 billion in outbound remittances goes to South Asia, a senior company official said. "Saudi Arabia is the biggest market for us in the Gulf and the UAE is also very, very important too," Hikmet Ersek, executive vice president and managing director for Europe, the Middle East, Africa and South Asia of Western Union, told Gulf News. "Of the $14 billion remittance industry in Saudi Arabia, 60 to 70 per cent of the money going out is going to South Asia and the Philippines.." [more]

Consortium Signs Deals for Saudi Power Plant [Mar 1]
"A consortium composed of ACWA Power Projects, Gulf Investment Corporation (GIC), and Mitsubishi Corporation yesterday entered into a series of agreements with Water and Electricity (WEC) for the development of the $1.9 billion Shuqaiq Independent Water and Power Project (IWPP). The project, on the southwestern coast of Saudi Arabia, consists of a thermal power plant and a reverse osmosis technology desalination plant together with all support facilities.. ..The Project is the second IWPP being developed by WEC and represents a major development in the Saudi water and power sector to help satisfy the increase in demand.." [more]

Kingdom’s Oil Output Up to 10.7 Million bpd in ’06 [Mar 1]
"Saudi Arabia’s oil output increased to 10.7 million barrels per day (bpd) by the end of 2006, according to Abdullah Jumah, president and chief executive of Saudi Aramco.“Among the company’s accomplishments in 2006 were the optimization of upstream operations and development and depletion strategies to meet crude demand and increase maximum sustained capacity to 10.7 million bpd,” he said. Jumah made this comment while addressing a meeting of the executive committee of the company’s board of directors in Dhahran.." [more]

~~~~~~~~~ [ Feb 28 ] ~~~~~~~~~

Don’t Delay Ending Crises, Says Moussa [Feb 28]
"Arab League Secretary-General Amr Moussa said yesterday that impediments such as regional politics and international policies that produce disorder and slow down the economic development of the region had to be addressed in order to ensure sustained growth.. ..“Political stability is a prerequisite for sustained development. But how can it be sustained when the region is threatened by acute and delicate issues in Palestine, Lebanon and Iraq, with sectarian, ethnic and other types of strife?.." [more]

Saudi King Vows to Punish Trouble Makers [Feb 28]
"Saudi King Abdullah on Tuesday said the fatal shooting of four Frenchmen near the holy city of Medina on Monday was an act of terrorism. 'Whoever carried out this terrorist act against innocent people will not escape justice,' the state-owned Saudi Press Agency quoted him as saying. King Abdullah made these comments in a telephone conversation with France's President Jacques Chirac.. ..The Saudi cell of al-Qaeda had previously threatened to 'cleanse the Arabian peninsula of infidels'. The Saudi interior ministry said it was investigating into the assault.." [more]

$1.9 Billion Saudi IWPP Contract Signed [Feb 28]
"A consortium of leading companies today signed a series of agreements with Saudi Arabia’s Water and Electricity Company (WEC) for the development of the $1.9 billion Shuqaiq Independent Water and Power Project (IWPP). The consortium comprises ACWA Power Projects, Gulf Investment Corporation (GIC), and Mitsubishi Corporation.The project, to be developed on a BOO (build, own, operate) basis, will be located at Shuqaiq, on the southwestern coast of Saudi Arabia and will substantially increase power and water supplies to the south region.." [more]

Experts Call for Developing Energy Sector [Feb 28]
"A Saudi oil expert yesterday called for insulating the Kingdom from oil-price fluctuations, as this would enable diversification and developing the energy sector. 'We must draw the right lessons from the previous booms. We must have economic reform independent of oil revenues. This is required if the Kingdom has to meet the challenge of developing the energy sector,' Majid Al-Moneef, Saudi Arabia governor to OPEC, told the morning session of Jeddah Economic Forum 2007. 'Such a shift from the oil dependence to the energy sector will also lead to the participation and investment of the private sector'.." [more]

Saudi Inflation is Highest in 5 Years [Feb 28]
"Inflation in Saudi Arabia climbed in December to its highest in at least five years as economic growth in the kingdom strained supply and drove up prices, data published by the central bank on Tuesday showed. Annual inflation in December quickened to 2.9% from 2.8% in November, according to data on the website of the Saudi Arabian Monetary Authority (SAMA). 'Inflation under 3 per cent for a country growing at Saudi Arabia's pace is still fairly low,' said Simon Williams, economist at HSBC bank in Dubai. 'But the upward trend may be a matter of some concern to SAMA.'.." [more]

Exxon and Aramco to Sell Fuel Oil Cargoes [Feb 28]
"Saudi Aramco and ExxonMobil have offered to sell one cargo each of end-March high-viscosity fuel oil from their joint-venture refinery in Yanbu for a total 170,000-180,000 tonnes, traders said yesterday.. ..Traders expect both deals to be concluded at lower prices than Middle East trader FAL Oil's purchase last week at a discount of $4-$5 a tonne to Singapore spot 380-cst quotes, C&F, equivalent to an FOB discount of $13-$14.. ..Higher-than-usual spot volumes have come from the Yanbu refinery this year after Aramco opted not to sell any barrels from the refinery on a long-term basis this year.." [more]

Pakistani in 17m Riyal Forgery Arrested [Feb 28]
"Considered as the biggest of its kind in five years, the Saudi passports anti-forgery squads in Jeddah have arrested a Pakistani involved in forgery operations worth more than 17 million Saudi riyals.. ..The expatriate had been monitored for the past three months, the statement added. Millions of foreigners come to Saudi Arabia every year to perform Hajj and Umrah pilgrimages. Thousands of them stay to look for jobs. The Saudi authorities are exerting tremendous efforts to eliminate the number of overstayers and forgers. Saudi Arabia is sending back thousands of foreign illegal overstayers every year.." [more]

Opportunities Open Up for Saudi Women [Feb 28]
"Saudi businesswomen boasted of slowly growing opportunities at an annual forum that closed yesterday, even as the Kingdom’s strict form of official Islam forced their segregation from their male colleagues. Participants in the Eighth Economic Forum in the country’s commercial capital of Jeddah said more was needed to be done to help women fulfil their potential but said the obstacles were more social than political. Women have made lots of progress in the past five years,” said Sarah Baghdadi, the first woman to serve as executive director for public relations of the Jeddah Chamber of Commerce and Industry.. ..She said the government was in favour of women working. 'The challenge comes from society,' with men unwilling to share the household responsibilities of working wives. 'Women’s problem is social rather than political'.." [more]

~~~~~~~~~ [ Feb 27 ] ~~~~~~~~~

Saudi Ambush Claims Fourth Victim [Feb 27]
"A French teenager has died of his wounds after a shooting in Saudi Arabia, raising the death toll to four. Saudi sources told the BBC police were treating Monday's ambush as terrorist- related, the first deadly attack on foreigners in nearly three years. The identities of the dead - all French nationals - have not been released.. ..The road where the attack occurred is reported to be restricted to Muslims only, as it leads to the Islamic holy city of Medina. However, a French diplomat quoted by the French news agency AFP said that three of those shot dead were not Muslims. The French foreign ministry said two of the victims were employees of the electrical equipment manufacturer Schneider Electric, and one was a teacher.." [more]

U.S., Saudi Policies Diverge On Iran [Feb 27]
"Saudi Arabia and Iran are engaged in talks on defusing the crisis in Lebanon. Saudi efforts to contain and engage Iran simultaneously could succeed at the regional level, but could also strain U.S. relations and promote long-term sectarian tensions between Sunni and Shia Arabs. Moreover, the Saudi strategy holds little prospect for changing the situation in Iraq. Riyadh is playing a subtle balance-of-power game with Iran, looking to reduce growing Iranian influence in the Arab world while avoiding open confrontation.. ..The Saudi strategy fits into U.S. efforts to mobilize a "moderate" bloc of Arab states against Iran. However, Saudi tactics on two fronts risk working at cross-purposes with Washington.." [more]

Top Level Analysis of Saudi Changing Capital Markets Sector [Feb 27]
"The most authoritative review of Saudi Arabia’s capital markets is underway following a tie up between HSBC Saudi Arabia Limited, the Kingdom’s first global investment bank, and Oxford Business Group (OBG), the publisher of the world’s most insightful business intelligence guides. Working together with HSBC Saudi Arabia, OBG will produce an essential review of the Kingdom’s capital markets sector for inclusion in its ‘The Report: Emerging Saudi Arabia 2007”.. ..'The Report: Emerging Saudi Arabia 
2007' will be available in the second quarter of this year.." [more]

'No Evidence' of UK-Saudi Bribery [Feb 27]
"Britain's Serious Fraud Office found no evidence of bribery in a huge arms deal with Saudi Arabia and the investigation will not hurt business ties, a prominent British parliamentarian said. "The reason they did not find anything is because there was nothing to find," said Elizabeth Symons, a former security and defence procurement minister who is a member of the House of Lords (upper house) and co-chairs the Saudi British Business Council. The SFO dropped its corruption inquiry last December into the multi-billion dollar Saudi deal with BAE Systems.." [more]

Saudi Arabia Attempting To Persuade Syria Over Lebanon Rift [Feb 27]
"Saudi Arabia is attempting to persuade Syria to accept an international tribunal in Lebanon to try suspects in the killing of former Lebanese Prime Minister Rafiq Hariri, Lebanon's Central News Agency (CNA) reported. The international tribunal has been a key source of tension between the Lebanese National Opposition led by Hezbollah and the government of current Prime Minister Fouad Siniora. Syrian and Saudi Arabian officials are expected to meet in Spain in coming days in order to discuss the matter further. It would be the first meeting between senior officials from both countries since a rift widened after last summer's Israel-Hezbollah war.." [more]

Saudis Seek to Boost Jobs for Nationals [Feb 27]
"Saudi officials are considering increasing the cost of expatriate workers for the private sector, as a way of tackling rising unemployment and making the recruitment of young Saudis more attractive. Foreigners, mainly Asians who are willing to accept lower salaries and work longer hours, dominate the job market. But the influx of expatriates since the 1970s - there are some 6.5 million foreign workers in Saudi Arabia - has created a 'lower equilibrium wage' pricing Saudis, who tend to seek higher salaries, out of the market.. ..In spite of the oil boom, Saudi unemployment has risen from 9.7 to 12 per cent since 2002, because of the number of students graduating and the unattractiveness of the private sector for young Saudis.." [more]

Abdullah and Jordan’s King Discuss Key Issues [Feb 27]
"Custodian of the Two Holy Mosques King Abdullah and his Jordanian counterpart King Abdallah held talks in Riyadh yesterday on major regional issues, including Palestine and Iraq.. ..'King Abdallah’s visits to Riyadh and Cairo come ahead of his visit to the United States this weekend where he will discuss prospects of restarting negotiations between the Palestinians and Israelis and tackling other issues of the region,' SPA quoted Jordanian sources as saying. The meeting of the two kings also comes ahead of a March 28-29 Arab summit in Riyadh when Saudi Arabia is likely to press for a radical solution to the protracted Arab-Israeli conflict.." [more]

JEF Diary: American President’s Brother Building Bridges With Saudis [Feb 27]
"..It was during one such networking sessions that Arab News ran into Mr. Neil Bush, the younger brother of the US president. There was no cause to strike up a business negotiation with the affable brother of the current US president, who runs an educational software company with dealings in the Gulf region, but Arab News did take the opportunity to speak to him. 'The Jeddah Economic Forum has been very productive,' he said. 'I have been to this conference four times since 2002. I have seen it develop 
from the very beginning. There was less participation in the past, now there is more international participation'.. ..Bush says it is important to gain 'a more balanced perspective' on Saudi Arabia, and to let go of some of the stereotypes.." [more]

OPEC Cuts Should Balance Market [Feb 27]
"OPEC's existing oil output curbs should bring the world market into balance, the group's new Secretary-General said on Monday, less than three weeks before the exporter group meets to chart policy. Abdullah al-Badri, who took on OPEC's top job in January, also told Reuters he expects the world economy to remain healthy for the next five to six years and downplayed the idea of a so-called gas OPEC. OPEC oil ministers meet on March 15 to set output strategy and review compliance with deals to cut 1.2 million barrels per day (bpd) from November 1st and a further 500,000 bpd from February 1st.." [more]

Riyadh to Host Arab Summit, Invites Syria [Feb 27]
"Saudi Arabia, which has recently stepped up a diplomatic drive to counter non-Arab regional power Iran, will host an annual Arab summit on March 28-29, Saudi media reported yesterday. Saudi Arabia, which has traditionally preferred to play a behind-the-scenes role in regional conflicts, had said in 2006 it did not want to host an Arab summit this year, but the Arab League said in January Riyadh had changed its mind. The gatherings of Arab leaders are convened annually and it was Saudi Arabia’s turn to host the summit this year. Saudi Arabia did not give a reason for not wishing to hold the summit and its subsequent change of heart.." [more]

~~~~~~~~~ [ Feb 26 ] ~~~~~~~~~

ExxonMobil, Saudi Aramco, China's Sinopec to Triple Fujian Refining Capacity [Feb 26]
"China Chemical & Petroleum Corp (Sinopec) said it has signed an agreement with ExxonMobil, Saudi Aramco and the Fujian provincial government to triple the capacity of its Fujian refining and ethylene joint venture project. Sinopec did not provide investment data in a statement published on its website. When the venture was announced in 2005, it carried a price of 3.5 bln usd. The capacity of the Fujian project, located in Quanzhou City, will be increased to 240,000 barrels per day from 80,000. The facility will refine and process mainly sour Arabian crude oil.." [more]

Plant Seeds for Future, says Rania [Feb 26]
"Jordan's Queen Rania Al-Abdullah stressed the concept of planting the seeds for the future in her address to the Jeddah Economic Forum on Sunday, maintaining that such a concept is a thread that links all humanity. 'There is grace and glory in the efforts we make to build a better world,' she said, 'even when those investments take decades to bear fruit...whether we are aware of it or not, we are planting today for tomorrow.' The Queen also referred to the enormous progress of Saudi women in being elected to the Jeddah Chamber of Commerce and as industry board members for the first time in history. 'This is the Arab woman we are proud of and the one many in the West do not know'.." [more]

Chinese Look to Stronger Ties With Saudi Arabia [Feb 26]
"Chinese leaders at the 8th Jeddah Economic Forum emphasized the importance of upcoming Saudi-Chinese joint ventures as well as the need to reinvigorate relations between the two countries. 'Saudi and Chinese bilateral economic cooperation has increased considerably within a very short time,'.. ..'Presently, we are working on 36 Saudi-China joint ventures,' Niu continued. 'Some SR 2 billion are involved in these ventures.”' Niu credited this activity as the result of strong bilateral efforts. If things 
continue at this pace, the prospects for both countries will be very bright in terms of joint trade agreements, he said. According to Li Goufu, a senior research fellow with the Chinese delegation, China is exporting high quality Chinese craftsmanship to the Kingdom, and this must be followed in the future with an increase in cultural exchange programs.." [more]

Riyadh Begins Arab Summit Preparations [Feb 26]
"Saudi Arabia has stepped up preparations for the upcoming Arab summit in Riyadh scheduled for March 28-29 to make the conference a success. Custodian of the Two Holy Mosques King Abdullah yesterday sent invitations to a number of Arab leaders including Egyptian President Hosni Mubarak and Syrian President Bashar Assad to attend the summit.. ..Arab League Secretary-General Amr Moussa said recently that the summit would discuss a string of regional issues, including the Palestinian-Israeli 
conflict and the Iraqi issue. He called on the international community not to stand idly on the situation in Iraq, but rather support Arab reconciliation efforts in the violence-ravaged country.." [more]

Commission Proposed to Protect Women and Children [Feb 26]
"Saudi Arabia is studying the establishment of a nationwide system under which a supreme commission would be established to protect women and children from violence.. ..Dr. Maha Al-Muneef, president of the National Family Safety Program in the National Guard Hospital. 'This system, if it is established, would have wide legislative powers to make laws and regulations to eradicate and combat violence against women and children,' she told Arab News. 'It is now with the committee in the Cabinet. We hope that it is established within the next few months,' she added.. ..'Violence against women and children should be fought just like any other problem such as AIDS or cancer,' she said, pointing out that as in many Arab countries, coordination between government bodies is a problem. 'Our problem is that each of our ministries works on its own'.." [more]

~~~~~~~~~ [ Feb 25 ] ~~~~~~~~~

Muslim Foreign Ministers Hold Mideast Talks in Pakistan [Feb 25]
"Foreign ministers of seven prominent Muslim countries gathered in the Pakistani capital Islamabad Sunday to discuss a joint strategy for the Middle East ahead of a proposed leaders' summit in Saudi Arabia. Prime Minister Shaukat Aziz was to open the talks focusing on political and diplomatic initiatives to help resolve the Palestinian conflict and address the turmoil in Lebanon and Iraq, as well as rising tensions between the United States and Iran.. ..The ministers were scheduled to call on Musharraf and then hold a joint press conference on the results of the consultations, which would pave the way for a summit of leaders to be held in Saudi Arabia at a later date.." [more]

Saudi Official Underlines Success of Jeddah Economic Forum [Feb 25]
"Saudi Arabia's holy city of Makkah's Prince, Abdulmajid bin Abdulaziz Saturday said Jeddah Economic Forum has succeeded in triggering economic reforms over the past seven years.. ..He hoped the forum, which would conclude Tuesday, would continue the pace of economic reforms. The Jeddah Economic Forum 2007 is dubbed "Economic Reform: Flourishing Grounds and Expanding Horizons." Forum Chairman Sami Bahrawi urged participants to explore all means to reach all objectives of the forum. He said the organizers were willing to increase competitiveness of the Jeddah forum vis-a-vis international economic fora.." [more]

Bank Stocks Power 13th Day of Saudi Rally [Feb 25]
"Saudi Arabia’s stock market yesterday extended for a 13th day its longest bull run in 18 months as investors piled into banking stocks that promised bonus shares. But the one-year anniversary of the beginning of a stock market crash might dampen investor sentiment this week, analysts said. Saudi Arabia’s bourse, the worst performer of the Gulf Arab region last year, overtook Dubai last week as the Gulf’s biggest 2007 gainer after a rally beginning on February 6 added 17.26% to its market capitalisation. Banking stocks have been the driving force behind the gains on the Arab world’s largest bourse.." [more]

Anti-Vice Squads Must Get Prior Approval for Inspection [Feb 25]
"The Commission for the Promotion of Virtue and Prevention of Vice in Saudi Arabia, known in the Western media as the 'religious police', has asked its staff not to enter public buildings, private hospitals as well as other business facilities for inspection unless they have prior coordination with official parties in these departments. The Commission for the Promotion of Virtue and Prevention of Vice (CPVPV) squad can enter government and private sector buildings, on receiving reports of moral violation, to nab violators but now it requires prior communication with those in charge of these buildings.. ..In the past few years, performance and behaviour of the anti-vice squad has come under fire from some writers in Saudi press.." [more]

Saudis May Drop Planned China Petrochemical Plant [Feb 25]
"Saudi Basic Industries may find another location for a $5.2 billion petrochemical plant planned for China if Beijing keeps delaying approval for the project, its chairman said Sunday. The Saudi petrochemical company says it has been waiting for more than a year to start work on the complex in the northeastern city of Dalian, which would include an oil refinery and an ethylene plant. 'We hope this approval gets completed so that we can go ahead with our investment in the project,' the company chairman, Prince Saud bin Abdullah bin Thunayan al-Saud, told reporters. 'There are many opportunities in the world. But there isn't a specific alternative to China, he said.. ..The Chinese companies have been waiting for 18 months for the authorities in Beijing to approve the project.." [more]

Sri Lanka Concerned Over Executions [Feb 25]
"Sri Lanka on Friday raised concerns with Saudi Arabian officials about the recent public execution of four Sri Lankans, including the beheading of a person sentenced to 15 years in jail.. ..Sri Lanka's Foreign Minister Rohitha Bogollagama told Sultan Al Dakhel, the Saudi charge d'affaires in Colombo that there is a 'widespread concern in Sri Lanka with regard to the carrying out of these executions,'.. ..The foreign ministry said Sangeeth Kumara who had been given a 15-year jail term had also been executed. Bogollagama told Al Dakhel that the Sri Lankan embassy in Riyadh was not notified before or after the execution and asked him to convey his concerns to the Saudi Arabian government.." [more]

OIC Creates $3b Trade Development Corporation [Feb 25]
"A trade development body with $3 billion in capital designed to increase trade and finance in Islamic nations was created yesterday in Jeddah. More than 50 finance and planning ministers from the Organisation of Islamic Conference (OIC) nations convened to inaugurate the International Islamic Trade Finance Corporation (ITFC). The enity is billed as the first dedicated to developing trade and finance in the Islamic nations.. ..As an independent organisation, the ITFC will also monitor market trends and launch specialised funds in its efforts to combat poverty and improve economic performance in the Islamic world. The ITFC will also support Islamic Development Bank investments and initiatives.." [more]

Turkey, Kingdom Discuss Iran [Feb 25]
"Turkey yesterday reaffirmed its strong support for the Middle East peace process while pledging to work with Saudi Arabia and other Islamic nations to advance efforts to solve the Israeli-Palestinian conflict. Turkish Prime Minister Recep Tayyip Erdogan, who held wide-ranging talks with Custodian of the Two Holy Mosques King Abdullah here yesterday, said that his visit to the Kingdom is aimed at coordinating positions and boosting efforts to resolve the conflict.. ..'We also discussed the nuclear developments in Iran,” said the Turkish premier, adding that “on my return from the Kingdom, I will send immediately a technical team to Israel to find out facts about the excavation works done near Jerusalem’s Al-Aqsa Mosque'.." [more]

Poor Health of Arab Children Causes Alarm [Feb 25]
"Health Minister Dr. Hamad Al-Manie has called for increased vaccination programs in the Arab world where the mortality rates for under-fives have increased by 13 percent. Some 640 million children lack adequate shelter; 500 million others have no access to sanitation and some 400 million depend on water unfit for consumption. The number of the severely undernourished is 90 million. The minister was speaking yesterday at the opening of a three-day international conference on Arab Child Health.. ..The Third Millennium Development Goals for 2015 seek to reduce by two-thirds under-five mortality rates; reduce by three-quarters the maternal mortality rates; stop the spread of HIV/AIDS; and bring malaria and other major diseases under control.." [more]

Expats Remit $14 Billion in 2006 [Feb 25]
"Expatriate workers in Saudi Arabia sent home some $14 billion in 2006, ranking the Kingdom second only to the United States, according to the Arab Monetary Fund (AMF). Remittances from Saudi Arabia represented more than half of the total transfers made by foreign workers in the Gulf Cooperation Council (GCC), the Saudi daily Al-Madinah reported yesterday, quoting the AMF. The GCC bloc, which groups Saudi Arabia with Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates, saw outflows of some $25.7 billion in remittances during 2006, the newspaper said.." [more]

Feb 18-Feb 24, 2007

~~~~~~~~~ [ Feb 24 ] ~~~~~~~~~

JEF Opens Today [Feb 24]
"The 8th annual Jeddah Economic Forum (JEF) opens here Saturday. Held under the patronage of Makkah Emir Prince Abdul Majeed Bin Abdul Aziz and organized by the Jeddah Marketing Board, a department of the Jeddah Chamber of Commerce & Industry, the three-day forum is expected to attract more than 2,000 delegates from around the world. Queen Rania of Jordan will deliver a special keynote address at the conclusion of the opening day.. ..The theme for this year’s Forum is “Economic Reform: Flourishing Grounds and Expanding Horizons.” The six half-day sessions are: ‘Strategies for Economic Reform: Universalism vs. Particularism’; ‘Flexicurity in Reform: A Balanced Social Agenda’; ‘People are at the Centre: Social Responsibility & Citizenship Initiative’; ‘The Legal Structure must keep up’; ‘Changing the Global Energy Paradigm’ and ‘Privatization: The Indispensable Tool.’ .." [more]

More Saudi Students Keen To Study In M'sia [Feb 24]
"The number of Saudis studying in Malaysia is expected to double to between 500 and 600 this year and will increase further to 1,000 in 2008 following greater interest shown by Saudi Arabia to send its students to Malaysia. Deputy Prime Minister Datuk Seri Najib Tun Razak said the Saudi Government's move to make Malaysia as the centre for higher education had attracted a lot of interest in that country.. ..He also said 154 Malaysian students are currently studying in Saudi Arabia, of whom 119 are sponsored by the Saudi Government. Most of them are studying in Medina.." [more]

Saudi Stocks Keep Upward March [Feb 24]
"The Saudi stock market kept its unabated upward trend for the last three weeks after a series of historical plunges. The Tadawul All-Share Index (TASI) gained 4.6 percent last week, closing at 8,245.05 points up from 7,881.55 points in the previous week. TASI is currently 3.9 percent higher than the year's start. It is the first time the Saudi benchmark price surmounts the level recorded at the beginning of the year. The Saudi market's turnover grew by 49 percent last week to SR73.1 billion compared with SR49.1 billion in the previous week.." [more]

Saudi Arabia to Provide Free Health Insurance for Citizens [Feb 24]
"A spokesman at the Saudi Arabian Health Ministry said that the ministry is planning to set up a national cooperative fund to provide free health insurance coverage to all of its nationals after privatizing state-owned hospitals, Arab News reported. The spokesman added that the proposed plan, which is likely to be executed next year, will enable more than 12 million Saudis to receive free medical services at both private and public hospitals.." [more]

Nine Consortiums Bid for Saudi Mobile Licence [Feb 24]
"Consortiums led by Egypt's Orascom Telecom , South Africa's MTN , and Kuwait's Mobile Telecommunications Co. (MTC) are among those vying for a third mobile licence in Saudi Arabia, the Gulf's largest telecom market, the regulator said on Saturday. Saudi Arabia, the world's largest oil exporter, is selling its third mobile phone licence and also plans to end the fixed line monopoly of Saudi Telecom Co.. ..Other consortiums in the race include Kingdom Holding Co., owned by billionaire Saudi Prince Alwaleed bin Talal which is bidding with Turkish mobile operator Turkcell , and Dubai-based Oger Telecom, controlled by Lebanon's al-Hariri family, Sultan al-Malik, spokesman for the Communications and Information Technology Commission (CITC), told Reuters.." [more]

~~~~~~~~~ [ Feb 23 ] ~~~~~~~~~

OIC to Break Embargo Against Palestinians [Feb 23]
"Fifty-seven Islamic countries yesterday decided to break "the unjust embargo" against the Palestinians and called on the Middle East Quartet to put pressure on Israel to stop excavations near Al Aqsa mosque, a top Organisation for Islamic Conference official said yesterday. 'In light of the positive developments in Palestine and formation of the national unity government, the international embargo against Palestinians has no justification," Ekmel Al Deen Ihsanoglu, Secretary-General of the Organisation of Islamic Conference (OIC) said'.." [more]

Market Volatility to Last Until the Medium Term [Feb 23]
"Host of factors — reduced OPEC output, cold weather in the northern hemisphere, slower than expected non-OPEC production growth and drop in inventories — aided by the increasing confusion on a possible confrontation Iran on the nuclear issue, has contributed to the firming up of the oil market prices lately — from the lows of below $50 a barrel to around $58 mark at the moment.. ..Concurring with the Saudi Oil Minister Ali Al-Naimi, the CGES said: 'OPEC's current level of production, estimated at slightly less than 30.1 million bpd in January, is below the expected call on its oil. Unless OPEC production is permitted to rise in the coming months, oil prices could once again set off in an upward direction as refiners chase scarce barrels to meet summer demand for transport fuels in North America'.." [more]

Economic Reform Takes Center Stage at JEF 2007 [Feb 23]
"This year's three-day Jeddah Economic Forum opens at the Jeddah Hilton tomorrow with a formal dinner reception for participants, with the support of Makkah Governor Prince Abdul Majeed. The fifth annual event organized by the Jeddah Marketing Board of the Jeddah Chamber of Commerce and Industry, with "economic reform" as the central theme, will bring together some global leaders to deliver their respective discourses on various topics.. ..This time, media coverage of JEF will take a new dimension with the introduction of "Jeddah economic media awards," designed to recognize the best press handling of the annual event.." [more]

Job Opportunities and Employment to Be Tackled [Feb 23]
"The King Abdul Aziz National Dialogue Center announced earlier this week that the next dialogue would discuss Saudi job market and employment opportunities for the country’s citizens. The forum, which is titled “Job Opportunities and Employment: A Dialogue Between the Community and Labor Institutions”, is part of the ongoing national dialogues where citizens and public figures from the private sector and the government hold period forums to address myriad issues facing the Kingdom, from social concerns to future of public policies.. ..This will be the second National Dialogue where the organizers are actively pursuing more participation of high-ranking government officials.." [more]

~~~~~~~~~ [ Feb 22 ] ~~~~~~~~~

BAE-Saudi Eurofighter Deal to Complete This Year [Feb 22]
"BAE Systems said on Thursday that it expects Saudi Arabia to sign a firm contract for Eurofighter combat jets by the end of the year. Chief Executive Mike Turner told reporters on a conference call that he expects a deal this year, noting they were government-to-government negotiations, with BAE serving as the prime contractor. The news comes on the same day that the UK arms firm posted a 33% jump in 2006 underlying operating profit. However, commentators have condemned the figures as fundamentally compromised because of the recent diplomatic crisis in which corruption allegations against BAE Systems were dropped because of pressure by the Saudi authorities.." [more]

U.S. Transfers Seven Guantanamo Detainees to Saudi Arabia [Feb 22]
"The United States on Wednesday transferred seven detainees from the U.S. military prison at Guantanamo Bay, Cuba, to Saudi Arabia, the Pentagon announced. With Wednesday's transfer, about 390 detainees still remain at the detention facility at the U.S. naval base in Guantanamo. The United States has transferred to other countries or released about 385 detainees from Guantanamo since the prison was opened in early 2002, the Pentagon said in a statement.. ..Most those still being held there have been detained for about five years and only about 10 have been charged.." [more]

Groundbreaking Saudi Sukuk Issue Closes at US $600M [Feb 22]
"The first international Sukuk issue by a Saudi corporate has successfully closed at US$600m. The landmark three-year issue - based on an Ijara structure - was significantly oversubscribed. A consortium of international banks announced the successful closing on behalf of Dar Al Arkan Real Estate Development Company (DAAR) - a leading residential real estate developer in the Kingdom of Saudi Arabia.. ..Launched as a US$425m issue by ABC Islamic Bank, Arab National Bank, Standard Bank Plc, Unicorn Investment Bank and WestLB AG, the DAAR Sukuk received an overwhelming response from financial institutions across Europe, South East Asia and the GCC region.." [more]

U.S. Congressional Delegation Visits Effat College to Learn About Saudi Education [Feb 22]
"Effat College announced that it hosted a delegation of congressional chiefs of staff from the U.S. on campus on February 21, 2007. The delegation included the following officials who hold offices with Democratic Congressmen: Mr.Jammel Johnson, Ms.Erika Young, and Ms.Semhar Araia. The Republican members of the congressional delegation were Ms.Helen Hardin, Mr. Kenny Kraft, Mr. Dana Gartzke, Mr. Joel Maiola, and Mr. John Goetchius. This visit was arranged by the Saudi Embassy in Washington, D.C.. .. 'The objective of this visit is to enable the congressional delegation members to learn about Saudi culture and become aware of the educational reforms that have occurred in Saudi education.'.." [more]

Media Denied Saudi Academy a Fair Hearing [Feb 22]
"The British media has been engaged in a war of words with the Saudi-funded King Fahad Academy, located in West London, following allegations that textbooks which taught pupils that Jews were "apes" and Christians "pigs" were being used in the classrooms. The allegations of Colin Cook, an English teacher who was dismissed in December for misconduct, has prompted the British government to investigate a school that has served Arab and British children.. ..By and large, the media has used Cook's allegation as the basis for their reporting without putting any of the allegations to the academy's director or staff members.." [more]

JCCI Chief Says Illegal Immigrants Putting Squeeze on Resources [Feb 22]
"A US Congress delegation met with Saudi businessmen at the Jeddah Chamber of Commerce and Industry (JCCI) yesterday and discussed issues ranging from bilateral visa procedures, the US policy toward Israel and the Kingdom’s oil policy.. ..“The Kingdom has seven million legal residents who repatriate billions of dollars to their countries. This is a major dent into our economy. However, the residents are beneficial to the Kingdom as they have been contributing to our economy,” Al-Turki said.." [more]

Corruption Costs Flight of SR3 Trillion Worth Funds [Feb 22]
"Saudi funds worth SR3 trillion ($800 billion) have gone out of the Kingdom as a result of administrative corruption, according to Majed Garoub, a legal consultant and chairman of the lawyers committee at the Riyadh Chamber of Commerce and Industry.. ..He made this disclosure while commending the significance of the national strategy for combating corruption, which was approved by the Council of Ministers last Monday. The Cabinet also set up an authority to monitor implementation of the strategy. Garoub called for greater administrative and financial controls and establishment of a separate ministry for administration.." [more]

~~~~~~~~~ [ Feb 21 ] ~~~~~~~~~

Peters Names New Ambassador to Saudi Arabia [Feb 21]
"New Zealand’s next Ambassador to Saudi Arabia will be career diplomat Trevor Matheson, Foreign Minister Winston Peters announced today. Based in Riyadh, Dr Matheson will also be non-resident ambassador to the other Gulf Cooperation Council states of United Arab Emirates, Oman, Bahrain, Qatar and Kuwait. “These countries are key partners for New Zealand in the region, and central to our interests in the wider Middle East," Mr Peters said.. ..'The Middle East is rapidly becoming a key outlet for our high quality niche products and services. Education is an area of particular growth, with Saudi Arabia recently announcing that over 350 scholarship students will be eligible to apply for study in New Zealand this year,' Mr Peters said.." [more]

84 Saudi Arabians to Study at Korean Universities [Feb 21]
"Eighty-four Saudi Arabian students will study at Korean universities from March under a Saudi government education grant, the Ministry of Education and Human Resources Development said Wednesday. A ministry official said the study program is designed to help the students get acquainted with engineering, computers and other high technologies.. ..Each student will be given an annual scholarship of $40,000 by the Saudi government and is expected to enroll in a Korean-language course for about one year before starting a degree course.." [more]

Saudi Women Seek to Break Male Domination of Airport Services [Feb 21]
"The Arabian Aircraft Services Company (Arabasco) has broken the male domination of the frontlines at Saudi airports by hiring five Saudi women to work at the company’s counters that provide services to VIPs at the private terminal of King Abdulaziz International Airport in Jeddah. The women were assigned to female customer service, thus ushering in a new field for Saudi females at airports where the available jobs had been limited to female inspectors and security staff.. ..Suwaylim said that this successful experience is an example that encourages the employing of women at all airports in the kingdom, particularly to facilitate services for women as dictated by the conservative particularities of Saudi society, a step that will provide a larger number of job opportunities and contribute to reducing unemployment among Saudi females.." [more]

Kingdom Considers Medicine Import Company [Feb 21]
"The government is considering a proposal by the Ministry of Health to establish a company that will be responsible for drug imports, according to the London-based Asharq Al-Awasat. The paper said the idea was the brainchild of Obaid Al-Obaid, undersecretary at the Ministry of Health for planning and development. The paper quoted him as saying that such a company would help unify purchase prices of all medicines for all public health sectors in the Kingdom, including military hospitals. Another objective, he said, is to enable the ministry to purchase drugs at competitive prices, which would help save millions for the treasury.." [more]

Kingdom Finds New Oil Well [Feb 21]
"Saudi Aramco has uncovered a new oil well in the Kingdom’s Eastern Province, SPA state news agency reported yesterday. The well will be able to produce daily almost 4,000 barrels of oil and 11.9 million cubic feet (336,970 cubic meters) of gas, it quoted Minister of Petroleum and Mineral Resources Ali Al-Naimi as saying. Saudi Arabia is the world’s leading oil producer and has reserves totaling 261.2 billion barrels, or more than a quarter of the global total.." [more]

~~~~~~~~~ [ Feb 20 ] ~~~~~~~~~

Saudi Poll Campaign Goes Online [Feb 20]
"Saudi pro-reform activists say they have begun an online petition calling for elections with men and women voters and greater freedom of expression. They say they plan to present the signatures to King Abdullah next month. The petition was initially circulated in private, activists say, but was put on the internet after 10 organisers were arrested at a meeting this month. The authorities have denied the arrests were linked to the issue. The men have been accused of funding Iraq militants. By placing their petition on the internet the Saudi activists are taking an enormous risk.. ..Saudi authorities have made it clear they will not tolerate public calls for political change.." [more]

Saudi School's Regret Over Books [Feb 20]
"The director of an Islamic school says she should have immediately "chucked out" books that landed it at the centre of a religious intolerance row. Dr Sumaya Alyusuf of the King Fahad Academy said no one there had read the texts, parts of which label Jews as "repugnant" and Christians as 'pigs'. But she told the Guardian newspaper they had no place in the school. Schools minister Jim Knight has ordered an inquiry into the Saudi-funded independent school in west London.. ..Dr Alyusuf agreed to remove the 
passages in question from the books some time after the controversy hit the headlines.." [more]

Saudis May Make Weapons With US [Feb 20]
"The United States is planning to jointly produce tank components, light armoured vehicles and other products in Saudi Arabia, according to a senior US military official. 'Our biggest co-production project in the Middle East is in Egypt, where we jointly produced 1025 M1A1 tanks. In Saudi Arabia we are still in the planning phase, though the project initially will not be as big as what we have in Egypt, but there is good potential for growth there' .. ..With growing security concerns, Anderson said, demand for air-defence systems and infrastructure protection have surged in the region.." [more]

Mechanism Urged to Counter Propaganda [Feb 20]
"A number of Muslim scholars have called for the creation of a mechanism to advocate Islam and its tenets and respond to the allegations labelling Islam as the religion of violence and hatred. The scholars were speaking at a symposium titled "The World and the Culture of Hatred" organised yesterday in Riyadh on the sidelines of the annual National Festival for Heritage and Culture. The event, organised by the Saudi National Guard is in progress here.. ..He pointed out that the Zionists also adopt racial and 
intolerant ideologies believing they are the preferred people of God and that it is their right to wipe out Palestinians. He indicated that the Pope's remarks about Islam last year demonstrated ignorance of the reality of Islam, adding that this runs contrary to any objective study of Islam.." [more]

Saudi 2006 Gold Demand Down 16.4% [Feb 20]
"Gold demand in Saudi Arabia fell 16.4% in 2006 from 2005 due to price volatility in the first half of the year, the World Gold Council said yesterday. But the WGC was more upbeat on the demand outlook for 2007 following a period of more stable prices later in 2006. The slide in Saudi equities last year might also have hurt the appetite for gold of the Gulf’s largest consumer, said John Sfakianakis, chief economist at SABB bank. Gold demand in Saudi Arabia came to 128.1 tonnes in 2006, down from 153.2 tonnes in 2005. But demand rose 14.7% in the fourth quarter from the same period a year earlier.." [more]

Bids to Operate Duty Free Shops Under Study [Feb 20]
"The Civil Aviation Authority is studying 20 offers submitted by international and local bidders to operate duty free shops at airports in the Kingdom. Civil Aviation Authority President Abdullah Rahemi told Arabic language newspaper Al-Jazirah seven international and five local companies have offered to run duty free shops. The names of the winning bidders would be announced within 10 days.. ..the Authority would award the operational contracts to national companies in partnership with foreign entrepreneurs.." [more]

Saudis Dismayed at Chevening Suspension [Feb 20]
"Saudi students have expressed concern over a decision made by the British Embassy canceling the Chevening Scholarship program for the Kingdom saying there were not enough subscribers.. ..Abdulmohsen Al-Subaie, an English teacher at Al-Jwaharee High School, said he was devastated by the news. It’s wrong to say that there was not enough demand. I know many Saudi students who are aspiring to go to Britain for higher studies. Moreover, there is no link between the government’s decision to send Saudi students to different countries, including Britain, for higher studies and the cancellation of the Chevening Scholarship scheme,' he said, adding, 'I hope that the British government’s decision could be reviewed in the larger interest of our bilateral relations'.." [more]

Akhtar in Kingdom for Bilateral Talks [Feb 20]
"Pakistan’s Minister of Commerce Humayun Akhtar arrived here yesterday to participate in the Eighth Saudi-Pakistan Joint Ministerial Committee meeting to be held at the Royal Conference Palace today.. ..A Pakistan Embassy spokesman told Arab News that the seven-member Pakistani team led by Akhtar will hold talks with a Saudi team headed by Dr. Yamani on issues related to trade, commerce, investment, education, Haj and Umrah. They are also expected to discuss free trade agreement with the GCC countries. He said the two parties are expected to sign an agreement tomorrow. Bilateral trade between Saudi Arabia and Pakistan annually averages around $2.5 billion.." [more]

OPEC Basket Price Stands at USD 53.58 a Barrel [Feb 20]
"The price of Organization of Petroleum Exporting Countries' (OPEC) basket of eleven-crude spiked two cents and stood at USD 53. 58 a barrel on Monday, compared with USD 53.56 the previous day, OPEC's news agency, OPECNA, reported on Tuesday. The yearly price average of the basket for 2006 reached USD 61.08 a barrel, OPECNA said. OPEC began cutting production levels by 500,000 barrels a day, effective from February 1, as it stipulated production cuts of 1.2 million barrels a day a few months ago, which made the organization's production settle at 26.3 million a day.." [more]

Corruption Clamp Backed [Feb 20]
"Saudi Arabia has approved a plan to clamp down on corruption, which newspapers said would target officials regardless of rank. The Saudi cabinet approved the 'national strategy to protect integrity and fight corruption' at a meeting chaired by King Abdullah, the SPA news agency said. It gave no details. Newspapers Asharq Al Awsat and Arab News said the plan could open government officials to investigation. '(It calls for) reducing and simplifying procedures and for applying the principle of accountability to all officials regardless of their positions' .. ..The announcement is the first move to crack down on corruption since King Abdullah, who came to power on a reform agenda in August 2005, pledged to fight graft last year. 'This will help the country improve its image in the Gulf region, especially among foreign investors,' a Western diplomat said.." [more]

~~~~~~~~~ [ Feb 19 ] ~~~~~~~~~

Saudi Gives Critical Us$1 Million Donation To Guinea [Feb 19]
"The United Nations World Food Programme (WFP) today thanked the Kingdom of Saudi Arabia for a US$1 million donation to its operations in Guinea, where humanitarian needs have been accentuated as a result of the current unrest that comes at a time when many people are struggling with loss of income and growing poverty rates.. ..An increasingly significant donor to WFP operations, the Government of Saudi Arabia has contributed over US$33 million last year alone, a tenfold increase compared to 2005. Saudi individuals and associations have donated nearly US$10 million over the past two years. In the Middle East, Saudi Arabia is by far the biggest donor to WFP's global activities and the Kingdom has become the 16th largest donor overall to the UN food aid agency in 2006.." [more]

The New Saudi Arabian Healthcare Market [Feb 19]
"..'Saudi Arabia’s healthcare system is ripe for investment opportunities,' said Mr. Ziad Fares, Booz Allen Hamilton Health Expert. 'The growing affluence of Saudi Arabia and the GCC region as a whole will mean that the healthcare systems of these nations will need both money and expertise from outside sources in order to cope with an aging, yet well-to-do population'.. ..The Saudi government has recognized this situation, and has identified healthcare as one of the key sectors targeted in its wide-ranging privatization program.." [more]

Riyadh Seeks Dutch MP's Apology for Offensive Remarks [Feb 19]
"Saudi Arabia wants an apology from a Dutch politician who said Muslims should "tear out half the Quran" if they wanted to live in his country and has asked the Dutch government to intervene, a Saudi newspaper said yesterday. The Dutch government, which said it did not agree with the remarks made by populist anti-immigration politician Geert Wilders, confirmed that foreign ministry officials held informal talks last week with the Saudi embassy in The Hague.. ..Wilders, who has lived under heavy guard since 2004 when a Dutch-Moroccan killed filmmaker and Islam critic Theo van Gogh, has campaigned to ban the veil, wants to freeze immigration and ban new mosques and religious schools. The Dutch news agency ANP quoted Wilders as saying yesterday he would not retract his remarks. "I would not dream of taking any of it back," Wilders said.." [more]

Saudi Arabia’s Nominal GDP Reaches SR1.30 Trillion in 2006 [Feb 19]
"A correction in the stock market failed to have a major impact on Saudi Arabia’s economic performance last year. Saudi Arabia’s economy was in fact exceptionally sound and robust in 2006. After joining the World Trade Organization (WTO), Saudi Arabia embarked on the mammoth projects of economic cities which will have a long-lasting impact on the macro-economic policies and on the fundamental structure of the Saudi economy.. ..Saudi Arabia’s nominal gross domestic product (GDP) is estimated to have grown by 12.4 percent in 2006, reaching SR1.30 trillion ($346.9 billion) while real GDP is estimated to have grown by 4.2 percent to SR799.9 billion ($213.3 billion).." [more]

Rights Group Hails Saudi Invite but Complains of Restrictions [Feb 19]
"Human Rights Watch said the Saudi government has shown a new willingness to discuss domestic human rights after inviting the watchdog to the kingdom, but complained that authorities blocked access to trials and prisons.. ..'The Saudi government’s invitation to HRW reflects a newfound openness towards discussing domestic human rights issues,' said Sarah Leah Whitson, HRW’s Middle East and North Africa director. The governmental Saudi Human Rights Commission arranged access to a wide range of high-level officials, while several ministers expressed their desire to invite HRW back to the kingdom to discuss the findings in detail, the statement said.But the rights group said the movement of its mission was restricted.." [more]

~~~~~~~~~ [ Feb 18 ] ~~~~~~~~~

Joint Panel to Discuss Makkah Agreement [Feb 18]
"The Saudi-US Committee for Strategic Dialogue will hold its third session in Riyadh this week. The session will be co-chaired by Prince Saud Al Faisal, the Saudi Foreign Minister, and his US counterpart Condoleezza Rice.. ..During its one-day session, the committee will also discuss developments in the region including the latest agreement concluded in Makkah between the two main Palestinian factions, Fatah and Hamas, as well as the situations in Iraq, Lebanon and Iran's nuclear programme. Gulf News has learnt that the committee will review reports of the six ad hoc committees emanating from the Saudi-US Committee for Strategic Dialogue.." [more]

Saudi Index Hits 8,000 [Feb 18]
"Banking shares powered Saudi Arabia’s stock index above 8,000 points for the first time in almost two months yesterday, but analysts say profit taking in the next few days may erode some gains from an eight-day rally.. ..Saudi Arabia’s market has gone from the Gulf’s worst performer this year to the region’s third-biggest gainer after a rally beginning Feb. 6 drove the index up 12.4%.. ..'There was a switch in Saudi this month from investing in day-trading stocks to investing for the long term,' said Youssef Kassantini, chief executive of Bourse Experts, a stock market consultancy in Riyadh.. ..The four largest companies on the index have accounted for 75% of the rally that has added almost 1,000 points in less than a month, Kassantini said.." [more]

First NAS Flight Takes Off in Saudi Arabia [Feb 18]
"The National Air Services (NAS) a private Riyadh-based, low cost airline, yesterday operated its first flight between Riyadh and Jeddah.. ..The second phase will start in March with flights to three Saudi cities. A high volume of passengers was recorded on the first day with more than 2,500 booked on the company's flights during the first 24 hours since the company announced the activation of its booking service.. ..NAS is planning to increase its domestic destinations to 23 by the end of the second year of operations before launching international flights.." [more]

King Abdullah Economic City Opens Investor Registration for Industrial Zone [Feb 18]
"King Abdullah Economic City (KAEC), the path-breaking development by Emaar the Economic City (Emaar.E.C), has opened investor registration for its Industrial Zone. The first phase of the 63 million sq metre zone dedicated to industries will be launched soon and potential investors can register on-line at www.kingabdullahcity.com.. ..The Industrial Zone will have specific initiatives to encourage local entrepreneurs through incubator-like modules. International experts have already been consulted – and will work hand-in-hand with Emaar.E.C management – to ensure that the development is in line with the best environmental practices. With the Saudi Arabian General Investment Authority (SAGIA) as the project’s prime facilitator, KAEC has the potential to create one million jobs. The mixed-use development with commercial, residential, industry and hospitality components is expected to be home to over two million people.." [more]

NAS Says Yes to IPO [Feb 18]
"NAS Air, Saudi Arabia’s first ‘no frills’ airline, says that it is planning an initial public offering (IPO) as early as 2008 in order to fund expansion following its first commercial operations later this month. “NAS will hopefully be eyeing an IPO for 2008-2009,” Taher Agueel, NAS chief executive, said. “NAS is developing itself to be the leading aviation services provider in the region.” The company said in December it would spend US$2bn on 75 planes and create a fleet of 100 by 2010.." [more]

Gul Discusses Regional Issues [Feb 18]
"Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with visiting Turkish Deputy Premier and Foreign Minister Abdullah Gul on major regional issues with focus on Palestine. The talks were also attended by Foreign Minister Prince Saud Al-Faisal.. ..'Gul’s visit to Riyadh is significant keeping in view the official tour of Israeli Prime Minister Ehud Olmert to Ankara early this week and his approval of a proposed Turkish inspection of construction work near Al-Aqsa Mosque, which sparked violent Palestinian protests and angered Muslims across the world,' a Turkish official said. Naci Koru, the Turkish ambassador to the Kingdom, said, 'Gul’s talks covered regional subjects with special reference to the Middle East peace process'.." [more]

Feb 11-Feb 17, 2007

~~~~~~~~~ [ Feb 17 ] ~~~~~~~~~

Saudi Selection May Boost Airbus in Mideast [Feb 17]
"After several years of tough competition — and a few days of confusion — Airbus appears to have won a Saudi order for two aerial tankers, beating out Boeing and scoring an edge in a Middle East market that often follows Riyadh’s lead.. ..Sources at the Saudi Defense Ministry declined to comment on the deal, but a Boeing official in the Middle East confirmed that its KC-767 bid had lost to Airbus. Saudi Arabia is the latest country to go for the MRTT, which is based on the A330 aircraft. The Royal Australian Air Force has already ordered five and the British reportedly are in final negotiations to buy 14. Boeing officials are hoping the Saudi decision does not influence the United Arab Emirates, which is preparing to choose between the KC-767 and MRTT for a three-plane purchase.." [more]

Tourists and Visitors Throng Janadriya Village [Feb 17]
"Public response to the annual Saudi National Heritage and Cultural Festival, known as Janadriya, has been overwhelming. Hundreds of tourists and guests from more than 50 countries are attending the 22nd festival which was opened on Wednesday by King Abdullah Bin Abdul Aziz . Janadriya village, which is spread over 1.5 square kilometres, houses over 30 replicas representing different regions of the country. It is open to the public twice a day. The Janadriya festival provides an opportunity for local and foreign visitors to see life as it was for previous generations of Saudis and how life was in the country long before the discovery of oil.." [more]

Arabs Seek Coherent Chinese Strategy [Feb 17]
"China's meteoric rise as a global economic power is a recurrent theme at business forums these days everywhere, and the Gulf region is no exception. Having been busy for decades in building relations with the West, Arab countries lack strategies in dealing with new world realities in which the US alone no longer holds sway over global trends, analysts say. They point out the "Bric countries," or Brazil, Russia, India and China, have also become new global arbiters.. ..Saudi Arabia already talks about China in strategic terms and has concluded several energy deals. It has been the top supplier of crude to the US and rarely bothered in the past to search for new consumers. Participating in a recent Middle East-China conference held in Dubai, Saudi Arabian mining company Ma'aden's chief executive officer Abdullah Al Dabbagh enumerated several benefits of close Saudi-Chinese relations.." [more]

Performance by Blue Chip Firms Buoys Saudi Bourse [Feb 17]
"The Saudi stock market continued to surge last week after rising over 4 percent the previous week. The Tadawul All-Share Index (TASI) climbed 7.55 percent last week, closing at 7,881.55 points. TASI is still 0.65 percent lower than the year’s start. The Riyadh-based Bakheet Financial Advisors’ (BFA’s) weekly report said: 'The soaring was fuelled by a number of positive factors, including good performance by blue chip firms and the banking sector, which was the major driving force behind last week’s rise.' The 
Saudi banking sector index climbed by 12 percent. The BFA expected the rebound to continue this week, but cautioned that the market could witness a 'limited profit-taking”.." [more]

Global Leaders To Address Multinational Gathering [Feb 17]
"In a press conference hosted by the Jeddah Chamber of Commerce & Industry, and Sami F. Bahrawi, Chairman of Jeddah Economic Forum 2007, the program and speakers were formally announced today. Her Majesty Queen Rania Al-Abdullah of Jordan will deliver a special keynote address at the conclusion of the opening day, Sunday 25th February. Plenary Speakers will include: HRH Prince Turki Al Faisal, H.E. Recep Tayyip Erdogan, Prime Minister of Turkey; The Hon Dato’ Sri Mohd Najib Tun Abdul Razak, Deputy Prime Minister of Malaysia; H.E. Lech Walesa, former President of Poland; H.E. Benazir Bhutto, former Prime Minister of Pakistan; The Rt. Hon. Jean Chretien, former Prime Minister of Canada; Minister Liu Jiangfeng from China; General Wesley Clark, former Supreme Allied Commander of NATO; Mr Peder Wallenberg, Founder of Carpe Vitam and Baroness Symons of Vernham Dean, UK Chair of the Saudi-British Business Council.." [more]

~~~~~~~~~ [ Feb 16 ] ~~~~~~~~~

History Comes to Life at Saudi Janadriya Festival [Feb 16]
"The annual Saudi National Heritage and Cultural Festival, known as Janadriya, the village some 43 kilometres north of Riyadh where the event takes place, was opened on Wednesday by King Abdullah Bin Abdul Aziz. The opening ceremony was attended by a number of dignitaries from inside and outside Saudi Arabia. The festival has turned into one of the most important events of its kind in the Arab world. This is the 22nd festival as the function, organised by the Saudi National Guard, first kicked off in 1985.. ..The event has always been a big hit among Saudis, particularly youths, who throng the village to get a glimpse of their heritage and culture. The folk and heritage festival, moreover, gives Saudi and foreign visitors a chance to slow down and take a closer look at the social tableau of an earlier era.." [more]

Rice Denies US Will Boycott Ministers [Feb 16]
"US Secretary of State Condoleezza Rice denied that the United States decided to boycott all ministers of a Palestinian unity government now being formed during an interview on Friday. Speaking with Al Arabiya television, Rice said Washington would reserve judgement on the new Palestinian government until it was formed, but said she hoped it would abide by the requests of the Quartet of Middle East negotiators and recognise Israel and accept interim peace accords.. ..Rice is due to meet Palestinian President Mahmoud Abbas and Israeli Prime Minister Ehud Olmert on February 19 but uncertainty over the Palestinian unity government complicates the summit.." [more]

Saudi Woman Creates Janadriya History {Feb 16]
"Mariam Al-Ghamdi created history on Wednesday night. She became the first Saudi woman artiste in the 22-year history of Janadriya Festival to participate in the opening ceremony of this important cultural event in Riyadh on Wednesday. People watched her brief but meaningful play screened during the 50-minute operetta entitled “Saudi Arabia: The Land of Love.” Mariam, who works in TV serials and stages shows, is a household name in Saudi Arabia. She is also a writer and a poetess.. ..Mariam believes the future for Saudi women artistes is very bright.." [more]

Saudi Arabia Rules the Region in Consumption of Junk Food [Feb 16]
"Saudi Arabia is the processed food king of the region, according to a recent study by the Doha-based Gulf Organization for Industrial Consultancy. While it may not be surprising that the largest country in the region is also the largest consumer of unhealthy, processed, sugary and fatty mass-produced food and beverages, the study also shows that the Kingdom is also ranked 15th in the world in terms of producing processed food items. Saudi Arabia invested $325 million in the production of processed food, such as potato crisps, candy and biscuits in 2005, out of a total of $356 million in investment in that industry in the GCC.." [more]

Arcelor Mittal to Build Saudi Steel Mill [Feb 16]
"Arcelor SA and Mittal Steel Co., currently joining to become the world’s largest steel producer, said yesterday they would build a steel mill in Saudi Arabia to supply the oil industry. The companies said they would hold 51 percent of a joint venture with the Bin Jarallah group to construct a seamless tube plant in the eastern Saudi city of Jubail on the Arabian Gulf that could churn out 500,000 metric tons of steel tubes and pipes a year.. ..Saudi Aramco, will be “one of the key customers” of the mill, Arcelor Mittal said. Aramco plans to spend $50 billion over the next five years to build more refineries in Saudi Arabia and other parts of the world.." [more]

~~~~~~~~~ [ Feb 15 ] ~~~~~~~~~

Saud: No Barriers to Nuke Cooperation With Russia [Feb 15]
"Saudi Arabia said yesterday there were 'no barriers' to atomic energy cooperation with Russia, following a visit made by Russian President Vladimir Putin. 'Saudi Arabia discussed this matter with the Secretariat General of the GCC (Gulf Cooperation Council) during the Russian president’s visit,' said Foreign Minister Prince Saud Al-Faisal at a press conference held here yesterday. 'The (Al-Jaber) GCC Summit held in Riyadh had mentioned that GCC countries would develop this (nuclear) energy in line with certain protocols,' he added. He said that GCC countries would not develop nuclear weapons.." [more]

Gulf Warned of Jobs Revolt [Feb 15]
"Unemployment is a ticking bomb that could cause 'a revolt' across the Gulf region, a top official said.. ..Abdul Rahman Bin Hamad Al Attiyah, secretary-general of the Gulf Co-operation Council (GCC), told delegates at the opening of the 30th Governing Council of the International Fund for Agricultural Development (IFAD) in Rome. "For the GCC countries, [unemployment] is an issue of great importance as high rates of employment are prevalent, particularly among young people, and have become one of the most pressing challenges faced by countries in the Near East and North Africa,.." [more]

Saudi Readymix to Carry Out $85.3m Expansion Plan [Feb 15]
"The President of Saudi Readymix that the company's production has crossed the threshold of 3 million cubic meters in 2006 for the first time since the establishment of the ready-mixed concrete supplier, Arab News reported. The official indicated that the company will carry out an $85.3 million expansion plan within five years through expanding its factories and distribution bases throughout the KSA. He added that Saudi Readymix is also planning to raise its annual output volume by further 30 percent.." [more]

Saudis Allocate 9b Riyals for Education [Feb 15]
"Saudi Arabia is moving ahead in developing its education curriculum, said Saudi educational experts in press statements yesterday.. ..'The King Abdullah Bin Abdul Aziz scheme for developing education will contribute to turning about 5 million male and female students from the traditional method of text books and lesson memorisation, which is currently adopted in schools, to the application of scientific methods that help students upgrade their mental and thinking skills,' the experts said during a press conference in Riyadh.. ..the new scheme will include the introduction of e-syllabus and the training of some 400,000 male and female teachers to enable them to cope with the new development in trends.." [more]

US Businessmen Show Interest in Madinah Projects [Feb 15]
"Several American businessmen have expressed their interest to develop various business projects in Madinah in a recent visit to the Madinah Chamber of Commerce and Industry (MCCI). Basem Al-Hasemi, a high-ranking official at the US consulate in Jeddah, led the US side.. ..Yanbu, with its two industrial cities and a seaport, is home to SR46 billion worth industries. The city also provides all facilities for industrial investors, the MCCI chairman added. In and around Madinah, there are 147 industrial units with SR1billion worth of investments.. ..A representative of the Saudi Arabian Investment Authority, Saleh Abbas, who also attended the meeting, explained the incentives provided by the government to foreign investors.." [more]

MedGulf Set to Float 25% of Stock - KSA [Feb 15]
"MedGulf (Insurance and Reinsurance) will float 20 million shares worth SR200 million at the par value of SR10 each starting on Saturday. The initial public offering (IPO) represents 25 percent of MedGulf's stock and will be sold to the public through 11 authorized banks. It marks a major step en route to becoming a joint stock company from the Kingdom's insurance sector.. ..It becomes the second company from the insurance sector to go public following the flotation by Al-Malaz Insurance Co. on Feb. 3.." [more]

Fuelling the Dragon [Feb 15]
"..The advance into the Middle East creates another front in Beijing's growing global rivalry with Washington and other western countries. 'China's strategy in the Middle East puts us in a competition for influence,' says Flynt Leverett, director of the Geopolitics of Energy Initiative at the New America Foundation in Washington. 'But the answer is not a confrontational approach over energy interests - it is to develop a more co-operative relationship with the Chinese on energy security'.. ..Jon Alterman, Middle East programme director at Washington's Centre for Strategic and International Studies, says western governments have to recognise that China will be a rising power in the Middle East and that it should be brought into discussions on regional security.." [more]

~~~~~~~~~ [ Feb 14 ] ~~~~~~~~~

Saudi Arabia: Lift Travel Ban on Government Critics [Feb 14]
"Saudi Arabia should lift politically motivated bans on foreign travel it has imposed on prominent government critics, Human Rights Watch said in a letter sent to King Abdullah on February 9. The Ministry of Interior has imposed the travel bans without regard to Saudi or international law and has refused to hear the appeals for relief from many of the men subject to the bans. “By imposing travel bans, the Saudi government is restricting the movement of leading intellectuals, diminishing their ability to work for a better future for the Saudi people through an international exchange of ideas,” said Sarah Leah Whitson, Middle East director at Human Rights Watch.. ..These travel bans violate international human rights law which guarantees everyone the right to leave any country, including his own, and to return to his country.." [more]

Reality Show Aims to Take US Closer to Arab World [Feb 14]
"As the US struggles with its image in the region, a group of former officials and diplomats, Democrat and Republican, is trying to come to the rescue, unveiling the results of what they hope will help bridge the gap between Arabs and Americans. Layalina Productions, a television content provider that counts an impressive board of advisers, including George Bush, the former US president, and James Baker, the former secretary of state, is behind a reality television show that aims to portray America in a more appealing light.. ..Yet analysts say it is unlikely to change Arab attitudes towards the US.." [more]

Saudi Al-Qaida Urges Strikes on U.S. Oil Sources [Feb 14]
"A Saudi wing of al-Qaida is calling for attacks on U.S. oil sources across the world, saying targets should not be limited to the Middle East and listing Canada, Venezuela and Mexico as U.S. oil suppliers. The threat appeared in the al-Qaida Organization in the Arabian Peninsula’s e-magazine, Sawt al-Jihad (Voice of Holy War), which was posted on a Web site used by Islamist militants.“It is necessary to hit oil interests in all regions which serve the United States not just in the Middle East. The goal is to cut its supplies or reduce them through any means,” the statement said.. ..Al-Qaida launched a failed suicide attack on the world’s largest oil processing plant in Saudi Arabia in February 2006 in which officials said two tons of explosives were used.." [more]

Arab Economies Grow Despite Turmoil [Feb 14]
"Arab Gulf states are utilising oil revenues to diversify their economies better and non-oil producers in the Middle East are liberalising faster despite political turmoil, the World Bank's deputy head said. 'In general all countries of the region are growing at a rate of between three to seven per cent..,'.. ..The World Bank's latest report on economic prospects for the Middle East and North Africa (Mena) region says the surge in oil prices and the boost in government expenditure has sent growth in the region to its highest levels in the past four years.." [more]

Iraq Reopens Its Riyadh Embassy After 17 Years [Feb 14]
" Iraqi Foreign Minister Hoshyar Zebari reopened his country’s embassy in Riyadh after 17 years as part of its efforts to strengthen relations with Saudi Arabia and other Arab countries.. ..He said the reopening of the embassy was based on an initiative from the Iraqi government to restore full diplomatic relations with Arab and Islamic countries with Saudi Arabia being the first. The Iraqi Embassy was closed down in February 1990 after Iraq invaded Kuwait, sparking the first Gulf War.." [more]

Consumer Confidence in Kingdom at New Highs [Feb 14]
"Consumer confidence in Saudi Arabia grew stronger in the second half of 2006, elevating the Kingdom to top place in the Middle East and Levant region. In the latest MasterIndex survey covering five economic factors — employment, economy, regular income, stock market and quality of life — consumers across Saudi Arabia were highly optimistic about their future. The current Saudi Arabia MasterIndex score of 97.3 out of a possible score of 100 is a significant improvement on the 88.5 score received six months ago.. ..The most significant increase in the Saudi index score was the rise in consumer sentiment on the stock market, which rose to 95.8 from 82.1 up 13.7 points from the last survey six months ago.." [more]

~~~~~~~~~ [ Feb 13 ] ~~~~~~~~~

US Nominates Business Bigshot as Saudi Ambassador [Feb 13]
"US President George W. Bush has nominated Ford Fraker, a heavyweight business executive, to be the next United States Ambassador to Saudi Arabia, the White House said in a statement early today. A Harvard University graduate, Fraker served in the past as Head of Banking for the Saudi International Bank. With deep knowledge in the Middle East, he now serves as Chairman of Trinity Group Limited and consultant to Intercontinental Real Estate Corporation.. ..Fraker's appointment comes one day after 
Saudi Arabia appointed Adel Jubeir as the Kingdoms Ambassador in Washington, replacing Prince Turki Al-Faisal who left his post after 15 months of service as the Saudi envoy in the US.." [more]

Saudi Arabia Allocates $2.4b for Improving Education Sector [Feb 13]
"The Saudi Arabian Education Minister said that the Saudi government has approved the King Abdullah Project for developing education with at total budget of $2.4 billion, Arab News reported. The minister pointed out that the project aims to improve the education atmosphere, enhance teachers' training and meet the requirements of the education sector in the kingdom.." [more]

Saudi Arabia Keeps Supply Steady [Feb 13]
"Saudi Arabia will keep oil supplies steady to some of its big-gest customers in March, although some Asian refiners were expected to receive additional crude, trade sources said yesterday. Opec has pledged to reduce supplies by a total of 1.7 million barrels per day, including a second cut of 500,000 bpd taking effect from February 1.Several Opec ministers have said there will be no need for a further output cut when the group meets in March, provided there is no significant change in market conditions.. ..Saudi Arabia has so far adhered to Opec's pledged cuts and some traders said higher supplies to some refiners would be offset by reduced deliveries elsewhere.." [more]

Russia Could Help Saudi in Atomic Energy: Putin [Feb 13]
"Russian President Vladimir Putin said Moscow would consider helping Saudi Arabia with a possible atomic energy programme and that he hoped to build stronger ties with Muslim countries. 'Russia is willing to look into co-operation opportunities in the area of atomic energy,' Putin told Saudi businessmen, speaking through an Arabic interpreter. Saudi Arabia and fellow GCC members Qatar, Bahrain, Oman, Kuwait and the UAE, said in December they had ordered a study on a possible joint civil atomic programme.." [more]

Saudi Arabia Finances a Housing Programme in Hebron [Feb 13]
"On 11 February 2007, in Riyadh, a Memorandum of Understading (MOU) on mutual cooperation between UN-HABITAT and the Saudi Committee was signed by Mrs. Anna Tibaijuka, Executive Director, UN-HABITAT, and H.E. Dr. Sa'id Al-Orabi Al-Harthi, Chairman, Saudi Committee for the Palestinian People Relief, and Advisor to the Minister of Interior. The occasion was witnessed by H.E. Dr. Jamal Al-Shobaki Ambassador of Palestine to the Kingdom of Saudi Arabia. The MOU provides a framework for the establishment of a 'Housing and Income Generating Programme for Widowed and Poor Women in Al Khalil (Hebron), the West Bank, the occupied Palestinian territories'.." [more]

MIT to Help Create First ‘Smart City’ in Saudi Arabia [Feb 13]
"King Abdullah Economic City (KAEC), the path-breaking development by Emaar the Economic City (Emaar.E.C), is in talks with the Massachusetts Institute of Technology (MIT) to develop KAEC as the first ‘Smart City’ in the world. A delegation from MIT met Nidal Jamjoom, chief executive officer, Emaar.E.C to discuss strategies that will shape KAEC as the world’s first truly IT-driven ‘Smart City’.. ..'Our association with MIT will serve as a technology telescope for bringing in emerging technologies and roll out ICT solutions that will continue to uphold the status of KAEC as the world’s ‘Smart City’ even after several years,' added Omar Al-Khudairi.." [more]

South Africa Tourism Woos Saudi Investors [Feb 13]
"The South African Embassy and Consulate General in Saudi Arabia will host workshops in the Kingdom to promote South Africa’s tourism and investment opportunities ahead of the 2010 FIFA World Cup in South Africa. The workshops will take place in Jeddah on Feb.18 and in Riyadh on Feb.19. Dubbed the “Next Stop South Africa” campaign, a delegation of senior officials from the Departments of Environmental Affairs and Tourism, Trade and Industry (Investment Promotion Unit), members of South African Tourism, the International Marketing Council of South Africa, as well as representatives from several Provincial Investment Promotion Agencies, will give presentations at the workshops.." [more]

France Reverses Announcement of an Airbus Tanker Deal with Saudi Arabia [Feb 12]
"French officials scrambled Monday to avoid a rift with one of the world's biggest arms buyers after prematurely announcing a deal by Airbus to supply Saudi Arabia with refueling tanker planes and then backing down. The reversal came as Boeing, the U.S. archrival of Airbus, introduced a newly redesigned KC-767 as its proposed aircraft for a $40 billion air force contract competition to replace 179 refueling planes. Boeing tweaked its 767 design to improve fuel efficiency, among other factors, to beat Northrop Grumman, which is expected to offer its KC-30, a modified Airbus A330, at a discounted price. Airbus has been seeking to loosen Boeing's grip on the tanker market.." [more]

~~~~~~~~~ [ Feb 12 ] ~~~~~~~~~

Oil Prices Fall After Comments by Saudi Oil Minister [Feb 12]
"Oil prices fell back from the $60-a-barrel mark today as the market looked ahead to a surplus of supply in the second quarter and following a suggestion that OPEC is unlikely to further cut production. On Friday, prices climbed briefly above the psychological $60 barrier on unrelenting cold U.S. weather.. ..Over the weekend, Saudi oil minister Ali Naimi suggested that the cartel was not looking to make further production cuts.. ..'If you are asking me are we going to take additional cuts or increase supply, I do not know,' said Naimi, the oil cartel's de facto leader. 'But, most probably if the trend is like what it is like today, with the market getting in much, much better health and balance, there may not be any reason to change'.." [more]

An Eye-Opening Visit for Australian Women [Feb 12]
"Australian and Saudi businesswomen found more similarities than differences during their meeting at the Riyadh Chamber of Commerce and Industry Saturday. The 14-women delegation arrived in the Kingdom last Tuesday for a two-week visit.. ..During their visit to the women’s branch of the Riyadh Chamber of Commerce and Industry (RCCI), Huda Al-Jeraisy, chairwoman of the Executive Council at the RCCI, answered the most common question foreigners ask: why women’s branch of the RCCI is separated from the men’s and whether this separation causes any difficulties? 'We have it separate to abide by Islamic teachings,' Al-Jeraisy answered. 'But by having a separate women’s branch, the specialized needs of businesswomen have been met through the separate specialized department.'.. ..Fiona Hill, the head of the Australian delegation, said she understood the need for specialized services for businesswomen. 'We don’t have a special Chamber of Commerce and Industry for women in Australian but we need one,' Hill said. The delegation head invited Saudi businesswomen to visit Canberra.." [more]

Saudi Prepares For Airport Privatisation [Feb 12]
"Saudi Arabia is paving the way for privatisation of its international airports. The General Authority of Civil Aviation (GACA) is working on plans to give all three of the Kingdom's international airports into autonomous, state-owned, companies. Abdullah Ruhaimy, president of GACA, says that the airports need to be given their own corporate identities and financial independence in order to improve performance.. ..Ruhaimy stressed that no decision has yet been taken on full privatisation of Saudi Arabia's airports, but was keen to discuss the positive impact that the private sector is already having on the country's aviation industry.." [more]

Saudi Arabia's Non-Oil Exports to Soar [Feb 12]
"Saudi Arabia's non-oil exports are set to reach 79 billion Saudi riyals during 2007, compared to 71 billion riyals in 2006, according to a report. The report, released by the Saudi ministry of finance, has based its forecasts on the major increase in non-oil exports to Iraq and East Asia, as well as the access of Saudi exports to European markets following the Kingdom's accession to the World Trade Organisation (WTO). The report noted that the value of these exports increased by 10.3 per cent.. ..The forecasts of the Ministry of Finance are not much different from those made earlier by the Saudi Exports Development Centre, an affiliate to the Council of the Saudi Chambers of Commerce and Industry. The centre predicted that Saudi non-oil exports would touch 80 billion riyals in 2007. The centre noted that there are a number of Saudi projects that will begin operating in 2007, which will boost the value of non-oil exports.." [more]

Airbus Wins Saudi Order [Feb 12]
"Airbus has won a Saudi Arabian order worth between 350 million euros ($455 million) and 400 million euros, the French Ministry of Defence said. The French government said Saudi Arabia had decided to order an unspecified number of A330 MRTT tanker/transport planes from Airbus. The basic planes will be made in Toulouse while Spain's CASA will turn them into military aircraft at its Getafe site near Madrid.." [more]

JEF Registration Begins [Feb 12]
"Registration for the Eighth Annual Jeddah Economic Forum, starting on Feb. 24, at the Jeddah Hilton, begins this week with a regional and international marketing and advertising campaign. Delegates can register directly Online via the link on the Forum Website [www.jef.org.sa]. For Registration Forms – contact the Registration Office on +966 2 657 0001.. ..JEF 2007 will explore the theme ‘Economic Reform: Flourishing Grounds and Expanding Horizons’. International Speakers are expected to include Prime Minister Erdogan of Turkey, Lech Walesa - former President of Poland, Jean Chretien - former Prime Minister of Canada and other internationally known economists and business leaders.." [more]

Saudi Women May Soon Take Up Diplomatic Work [Feb 12]
"Saudi women will soon be eligible to take up diplomatic work at the Ministry of Foreign Affairs, according to a leading official at the Institute of Diplomatic Studies. 'There is an inclination to open the diplomatic sector for women at the institute and the minister of foreign affairs is very keen on women working in the ministry,' said Dr. Muhammad Al-Uwaydi, director of the Periodicals and Publishing Department at the Institute of Diplomatic Studies. The institute was established 27 years ago to serve the Foreign Affairs Ministry by training Saudi diplomats.. ..Foreign Minister Prince Saud Al-Faisal announced two years ago that Saudi women would be employed at the ministry. The ministry had also began hiring Saudi women to work at the Kingdom’s missions abroad. 'So opening a section for women to qualify them for diplomatic work is in line with that,'.." [more]

~~~~~~~~~ [ Feb 11 ] ~~~~~~~~~

Putin Arrives in Saudi Arabia on 'Historic' Mideast Trip [Feb 11]
"In the first trip to Saudi Arabia by a Russian leader, President Vladimir Putin arrived in the kingdom Sunday, where he is expected to discuss with top Saudi officials the region's hotspots as well as economic and military cooperation. Saudi King Abdullah and Crown Prince Sultan met the Russian leader at the airport Riyadh, the official Saudi Press Agency reported. Putin is leading a large delegation that includes almost 60 business executives who are scheduled to meet with their Saudi counterparts to discuss investment opportunities and possible joint ventures between the two countries.." [more]

HSBC Underlines Saudi Commitment [Feb 11]
"HSBC Group has vowed to increase its long-term commitment to Saudi Arabia. 'HSBC has been in Saudi for 55 years, and we hope to be here for at least 55 more,' said chairman of HSBC Group Stephen Green, one of the world's largest financial institutions, speaking after concluding a three-day visit to the kingdom. Green had a series of top level discussions with senior government officials during his visit, said an official spokesman.. ..Green's meetings with Saudi officials and representatives of the Kingdon's banking sector ranged over banking activities in the Kingdom, the promotion of innovative banking and investment initiatives and an exchange of views on the future direction of Saudi Arabia's financial sector.." [more]

EC to Probe Alleged Fraud in BAE Deal [Feb 11]
"The British government is to be referred to the European Commission over its decision to abandon a fraud investigation into BAE Systems arms deals with Saudi Arabia. If the Commission finds that its rules have been broken, the government could face a potentially unlimited fine in the European Court of Justice. The move comes after Internal Market Commissioner Charlie McCreevy told Liberal Democrat MEP Chris Davies that failure by an EU state to take action to ensure contracts are fairly won would constitute 'a serious infringement of the EC rules'. Prime Minister Tony Blair said that the decision to halt the Serious Fraud Office inquiry was taken in December in order to avoid damage to national security.." [more]

Riyadh Refutes Reports on USD 1 Billion Assistance to New Palestinian Government [Feb 11]
"Saudi Arabia refuted Sunday press reports that it pledged USD one billion as an assistance to the coming government in Palestine. 'There is no grain of truth in the reports,'  the state-run Saudi News Agency (SANA) quoted Saudi officials as saying. The recent Makkah Accord between Palestinian leaders was reached out of their own sincere will and understanding, the officials said, denying any external interferences or preconditions.." [more]

Intelligence Report Reveals Strong Fundamentals of Business Confidence [Feb 11]
"The second Arab Business Intelligence Report will place Arab CEO confidence at centre stage at this year's World Economic Forum. In a year marked by conflict in the Arab world, its CEOs and business leaders (especially those outside the oil markets) score, for the second year running, some of the highest levels of business confidence in the world. The Middle East and North Africa region has this year become the tenth largest economy in the world. The GCC economies alone rank 16th, according to a recently published report. Economic confidence has traditionally been associated with high oil prices. The ABIR somewhat challenges this myth by looking across nine industry sectors and 18 Arab countries.." [more]

Strategic Accords Likely During Putin’s Visit [Feb 11]
"Russia and Saudi Arabia are expected to sign three major agreements and two memorandums of understanding (MOUs) as Russian President Vladimir Putin arrives in the Saudi capital today on his first visit to the Kingdom.. ..Talks will also revolve around bilateral trade relations. “We are ready to pursue talks held a year ago between Saudi and Russian businessmen on all fronts,” the ambassador said. According to the embassy, the first agreement to be signed today is a convention that would eliminate double taxation on income and capital. Russia’s Deputy Minister of Finance Sergey Shatalov is expected to sign the agreement with Minister of Finance Ibrahim Al-Assaf from the Saudi side.." [more]

US Intelligence to Hire More Arab-Americans [Feb 11]
"Since the Sept. 11 attacks and the 2003 US-led invasion of Iraq, American agencies have been slow to hire Arab- and Muslim-Americans to help them wade through Mideast and South Asian cultural and language operations. At the FBI, if one counts the agents there who know a handful of Arabic words — including those who scored zero on a standard proficiency test — just 1 percent of the FBI’s 12,000 agents have any familiarity with the language.. ..Navy Vice Adm. John M. McConnell, garnered much interest when he announced last week that he intends to improve security rules to make it easier for US intelligence agencies to hire first-generation Arab-Americans and Muslim-Americans for highly sensitive jobs.." [more]

$3b a Year Spent on Obesity-Related Illness [Feb 11]
"Saudi Arabia spends around $3 billion (Dh11 billion) every year for obesity-related consultations and treatment, medical sources said in press statements yesterday. More than three million Saudis are classified as obese, the sources added. The sources attributed this trend to poor diet and lack of exercise. Gulf Cooperation Council (GCC) health experts noted the increasing rate in diabetes and other illnesses among the population of the GCC member states was due to the rapid modernisation of life in these countries.." [more]

 Feb 4-Feb 10, 2007

~~~~~~~~~ [ Feb 10 ] ~~~~~~~~~

Saudi Arabia's Foreign Assets Hit 833b Riyals [Feb 10]
"Total Saudi government foreign assets reached 833 billion riyals at the end of 2006 thanks to the rise in oil prices and state budget surplus of 265 billion riyals. Foreign currency worth 93 billion riyals, deposits at overseas banks worth more than 120 billion riyals and investments in foreign instruments of more than 620 billion riyals, make up the total figure.. ..It was the highest figure for more than five years.." [more]

Saudi Stock Index Gains Over 4% in a Week [Feb 10]
"The Saudi stock market continued to surge last week after the announcements of some more listed companies regarding their financial results and dividends. The Tadawul All-Share Index (TASI) gained 4.07 percent or 286.88 points for the week to 7,328.10. The index closed at 7,041.22 points in the previous week. TASI is still 7.63 percent or 605.19 points lower than the year's start. The stock market turnover rose to SR55.49 billion last week compared to SR42.69 billion in the previous week.." [more]

Bush Most Disliked Global Leader in Arab World [Feb 10]
"A new poll on Thursday underscored deep Arab unhappiness with the United States but said the negative image could be repaired if Washington brokered a comprehensive Arab-Israeli peace agreement. The survey of 3,850 people in six Arab countries rated President George W. Bush as the most disliked world leader, while the United States and Israel were viewed as significantly greater threats than Iran.. ..The results show the Arab-Israeli conflict 'remains the central prism through which people are evaluating the United States'.." [more]

US Will Be Unable to Reduce Reliance on Middle East [Feb 10]
"Oil production problems throughout North and South America will hurt US efforts to cut back on Middle Eastern crude imports, energy experts said. Steep oil field decline rates in Mexico and Venezuela and delays and outages in offshore US and Canadian areas should lower output from the region this year, countering earlier expectations of a rise.. ..Lower supplies from regional suppliers will dent US efforts to shore up national security by reducing dependence on Middle Eastern producers, a feat the White House says it can achieve in part by promoting alternative fuels.." [more]

~~~~~~~~~ [ Feb 9 ] ~~~~~~~~~

Saudi Arabia Putting its Regional Clout at Risk [Feb 9]
"Saudi Arabia put its credibility on the line by hosting a high-profile summit of rival Palestinian leaders. Now, with a deal reached, it wants to ensure the Palestinian government's survival and convince the U.S. there can be peace with Israel.. ..Both sides clearly recognized the need for the support of Saudi Arabia, a top U.S. ally, to ensure the agreement succeeds. Abbas and Hamas leader Khaled Mashaal lavished praise on Saudi King Abdullah, who oversaw the ceremony announcing the accord.. ..American and Israeli acceptance of the new government is key to lifting the financial boycott and opening the door to resuming peace negotiations." [more]

Saudi Raises Key Rate [Feb 9]
"Saudi Arabia's central bank unexpectedly tightened monetary policy, narrowing the gap with US interest rates for the first time since a stock market crash began last year, currency traders said yesterday. The Saudi Arabian Monetary Agency (SAMA) raised the benchmark repo rate and the reverse repo rate by 30 basis points.. ..The memo gave no reasons for the first change in Saudi borrowing costs since June, they said. SAMA officials could not be reached yesterday. SAMA, which keeps the riyal pegged to the dollar, was making up ground lost in 2006 when it declined to match the US Federal Reserve's interest rate increases during a Saudi stock market crash that began in 
February.." [more]

Kingdom Condemns Al-Aqsa Digging [Feb 9]
"The Kingdom Thursday expressed deep concerns on the excavation and demolition work being carried out by the Israeli authorities around Al-Aqsa Mosque. In a statement to the Saudi Press Agency (SPA), an official source described these acts as a clear violation of the sanctity of the mosque and a threat to its religious and Islamic features.. ..Despite fury from Arab and Muslim leaders and Palestinian protests, Israel was continuing initial excavations for a third day on Thursday ahead of beginning new construction near the mosque compound. Israel’s defence minister has written to Prime Minister Ehud Olmert asking for an immediate halt to public works near Al-Aqsa Mosque.." [more]

First Arab-American Yearbook Launched [Feb 9]
"Arab-Americans can finally find themselves in America. All they need to do is refer to the first issue of the “Arab-American Yearbook: The Resource and Referral Guide for and About Arab Americans.” It’s a Who’s Who of Arab-American references, and promises to be of great use to anyone trying to delve into Arab-American business, connections and transactions in this country. The guide is a comprehensive, nationwide resource for and about the Arab-American community.. ..It also lists Arab-American US senators and representatives, Arab-American businesses, facts on all Arab countries, US embassies and consulates in Arab countries, Arab embassies in the US; and even lists of Arab-American conventions and events in 2007, and Arab-American churches and mosques. These resources are long overdue, which makes the book a tremendous resource.." [more]

Arabs Appeal to UN on Mosque Dig [Feb 9]
"The Arab group at the United Nations has appealed to the UN Security Council to stop Israeli excavation near an important Islamic site in Jerusalem. Israel has said that it wants to salvage artefacts before construction of a pedestrian bridge leading to the complex, which is also sacred to Jews. Muslims fear that the excavations, which began on Tuesday, could damage the foundations of the 1,400-year-old Al Aqsa mosque.." [more]

Administrative Brainstorm Slated in Riyadh [Feb 9]
"The Saudi Society for Administration will hold a forum with the participation of domestic, regional and international experts in the field of human resource development at the King Faisal Conference Hall in the Inter.Continental Hotel in Riyadh Feb. 26-28.. ..The forum aims at the development of the human resources in the Kingdom with discussions and the exchange of new ideas in the field of management and administration in the international arena. The society also aims at providing ample opportunities for Saudi administrators to communicate with their counterparts from other parts of the world.." [more]

Saudi Women Educators in Japan to Learn New Approach [Feb 9]
"As part of a major initiative to promote female education in the Kingdom, a delegation of 10 senior Saudi women officials drawn from the top-notch educational institutions under the Ministry of Education, will leave for Japan on Saturday to learn from the Japanese experience.. ..The women experts will actively participate in the 17-day study tour, which will focus on female education in Saudi Arabia. 'The training program will identify problems faced by the Kingdom in the domain of female education with an aim to formulate new policies,' Nakauchi said. The program seeks to make female education in Saudi Arabia more efficient to meet social and economic needs of the country.." [more]

Oil Price Jumps $US2 a Barrel [Feb 9]
"Oil surged in price on Thursday amid signs of falling crude exports from producer group OPEC and rising tensions between the United States and Iran over its nuclear programme.. ..OPEC's daily exports in January were down 200,000 barrels from December, according to shipping data from Lloyd's Marine Intelligence Unit. In October and December, OPEC agreed to remove 1.7 million barrels a day from the market by February. Also on Thursday, Iran's top authority, Supreme Leader Ayatollah Ali Khamenei, said the Islamic Republic would target US interests around the world if it came under attack over its nuclear programme. Iran is the world's fourth-largest oil exporter.." [more]

~~~~~~~~~ [ Feb 8 ] ~~~~~~~~~

Japan's Mitsui Considers Role in Saudi Petrochemical Project [Feb 8]
"Mitsui & Co.'s (8031) possible participation in a petrochemicals joint venture in Saudi Arabia would be another example of Japanese corporates setting up plants in the Middle East to reduce costs. The Nikkei, Japan's leading business daily, said in its Thursday morning edition that the Japanese trading house plans to take part in a Saudi Arabian petrochemicals joint venture, and is expected to pitch in tens of billions of yen. The overall cost is estimated at $7 billion-$8 billion, the report said.. ..Such a move by Mitsui would bring to three the number of major Japanese corporate groups in Japan proceeding with petrochemical projects in Saudi Arabia.." [more]

Saudi Arabia Creates First Intern. Motorsport Event [Feb 8]
"The Kingdom of Saudi Arabia enters the history books this weekend by running its first ever international motor sport event. The Hail Saudi Baja ­ branded and advertised as the Hail Rally 2007 The Great Nufud Challenge - is an official candidate rally for inclusion in the 2008 FIA International Cup for Bajas and gets underway on Friday afternoon in Hail city in the north-central region of the Kingdom. The Saudi Motor Sports Committee (SMSC) have laid on a challenging three-day competition for an international field of 36 cars.." [more]

Saudi Raises Interest Rates [Feb 8]
"Saudi Arabia's central bank raised its benchmark repo rate by 30 basis points to 5.50 percent, currency traders said on Thursday. The reverse repo rate went from 4.7 percent to 5 percent, two Dubai-based traders said, citing a statement sent by the Saudi Arabian Monetary Agency (Sama) to Saudi banks.. ..The Saudi riyal is pegged to the US dollar and monetary policy usually tracks that of the Federal Reserve. US interest rates stand at 5.25 percent.." [more]

Dutch Economic Delegation to Visit Kingdom [Feb 8]
"A high-level delegation from the Dutch Ministry of Economic Affairs will visit the Gulf Cooperation Council countries to investigate what markets, sectors and activities to target and to assess where to establish an investment promotion office for the Netherlands.. ..'During its two-day visit to the Kingdom, the delegation will meet with SAGIA’s governor and high ranking officials from the Ministry of Commerce & Industry, Finance and Petroleum and Mineral Resources and with representatives of the main Saudi 
investment companies,'.. ..The visit is also aimed at enhancing bilateral economic relations in a broader perspective and identifying fields for possible closer co-operation. In this respect, energy is an important topic.." [more]

Palestinians Vow Not to Leave Makkah Without Reaching Accord [Feb 8]
"In a rare display of unity, Palestinian President Mahmoud Abbas, Hamas political strategist Khaled Meshaal and Prime Minister Ismail Haniyeh vowed not to leave the holy city of Makkah without reaching a comprehensive reconciliation agreement. Many in the Arab world see the Makkah Summit as the last chance to avoid civil war between the feuding Palestinian factions.. ..Abbas said he hoped the talks would lay the ground for the formation of a unity government that would help put an end to crippling sanctions imposed by Western nations. He termed the fictional violence a catastrophe.." [more]

Saudi King Pressed Over Women's Marriage Rights [Feb 8]
"An appeals court decision less than two weeks ago in Riyadh, Saudi Arabia, threatens to be a major setback in the progress made toward eliminating gender and customs bias against women in Arab and Muslim societies.. ..The only remaining hope that things could be different for this couple, would be if King Abdullah bin Abdul Aziz, after reviewing the case, forwarded it to the Kingdom's High Court. If the case is allowed to go before the High Court, King Abdullah has an opportunity to reinforce his established trend of reform to ensure that women's rights in marriage and divorce, as well as various other aspects of daily life, are dealt with in accordance to the Shariah (Islamic law).." [more]

~~~~~~~~~ [ Feb 7 ] ~~~~~~~~~

Rival Palestinian Leaders Begin Talks in Mecca [Feb 7]
"Rival Palestinian leaders began crucial talks Wednesday in this holy city on ending their bloody street battles and resuming the peace process with Israel. 'We came here to agree and we have no other option but to agree,' the exiled leader of Hamas, Khaled Mashaal.. ..Palestinian President Mahmoud Abbas said he and his Fatah delegation had told all their supporters that 'we will not leave this holy place until we have agreed on everything good, with God's blessing'.. ..Referring to the gun fights that killed more than 30 people in the past seven days, Mashaal turned to Abbas and said they both had to tell their supporters to respect the truce that took effect on Sunday.." [more]

Row Over Saudi School Textbooks [Feb 7]
"A Saudi-funded Islamic school in west London has been accused of using textbooks containing offensive remarks about Christianity and Judaism. Allegations about the Arabic books emerged when a former teacher accused the King Fahad Academy, Acton, of institutional racism. The school has denied the allegations as 'grossly offensive, highly inflammatory and entirely false'. Translations of sections of the books were 'taken out of context', it said. . ..King Fahad Academy director Dr Sumaya Aluyusuf admitted the textbooks - translated for the BBC Two's Newsnight programme by two independent scholars - were kept at the school. However, she said they were no longer part of the curriculum.." [more]

Riyadh to Become Saudi Arabia's First Smart City [Feb 7]
"The Deputy Governor of the Saudi Capital, Riyadh stated that the city will become the kingdom's first smart city, providing free wi-fi internet access for all its residents.. ..The deputy governor, who opened the first smart zone at the city's main avenue, said that the establishment of smart cities in the KSA will improve the government's performance in economic and security related fields. The Governor of Saudi Telecommunications and IT said that other major Saudi cities, such as Jeddah and Madinah, will join the capital for the smart city initiative.." [more]

Rights Body Seeks Details of Arrests in Saudi Terror Funding Case [Feb 7]
"Rights group Amnesty International asked Saudi Arabia yesterday to clarify reasons for detaining 10 men, whom it said could face torture, amid conflicting reports on whether they were reformers or terror financiers.. ..A lawyer representing seven of the detainees has said they were reformers discussing political reforms in the kingdom.. ..Lawyer Bassem Alem said at least one of the detainees has been involved in public humanitarian fundraising work for Iraqis through the Saudi Red Crescent Society. Alem said some of them also planned to send aid to Palestinians in Israel-occupied territories.." [more]

Fire Insurance to Become Compulsory in Saudi Arabia [Feb 7]
"The Executive President of the Saudi United Cooperative Insurance Co. said that the Saudi government is planning to set up a compulsory fire insurance system in cooperation with the kingdom's Civil Defense Directorate and National Committee for Insurance.. ..The president, who was speaking at a local conference, added that the proposed system will minimize the losses that result from fire accidents, which have cost Saudi insurance companies about $488 million in the between 1995 and 2005.." [more]

Non-Opec Producers Will Pump Less Oil Than Expected [Feb 7]
"Oil producers outside Opec will pump less oil than expected in 2011, the International Energy Agency (IEA) said yesterday, leading to a tighter world market than previously anticipated. In its latest Medium Term Oil Market Report, the adviser to 26 industrialised countries cut an estimate for supply of non-Opec oil and biofuels for 2011 by 1.1mn barrels per day to 62.3mn bpd.. ..The outlook updates an IEA forecast last issued in July and points to a greater reliance than expected on the Organisation of the Petroleum Exporting Countries, source of more than a third of world supply.." [more]

Women Lawyers Cannot Defend Clients in Court [Feb 7]
"Saudi Justice Minister Dr Abdullah Al Al Shaikh has disclosed that his ministry is reviewing 20 articles of the law of procedures before Sharia courts.. ..Responding to mounting inquiries about granting licences to Saudi female lawyers to practise the profession, the minister said the licences currently granted by the ministry to female lawyers were for legal consultation services only and not to defend clients in court.." [more]

Saudi Aramco Signs Deal for Manifa Development [Feb 7]
"Saudi Aramco signed a contract with Belgium dredging contractor Jan De Nul to help develop the 900,000 barrel per day (bpd) Manifa offshore oil field. Scheduled for completion in 2009, Jan De Nul will carry out dredging works in the Arabian Gulf before building several drilling islands and a 41-km causeway that will provide Saudi Aramco with a direct link from the coast to shallow-water offshore man-made drilling islands. This is the first Lump Sum Turn Key (LSTK) contract to be signed under Saudi Aramco’s Manifa development program, their largest offshore project. It aims to add 900,000 bpd of Arabian Heavy crude production by 2011.." [more]

~~~~~~~~~ [ Feb 6 ] ~~~~~~~~~

Saudi Cuts Q4 Oil Supplies to Asia [Feb 6]
"Saudi Arabia cut oil exports to its three largest Asian customers by nearly 4% in the fourth quarter against the third, while Iranian shipments rose to near year-ago levels, calculations based on official data showed. The Saudi cuts of a total 88,000 barrels per day (bpd) support other evidence showing compliance with Opec curbs that came into force on November 1.. ..Opec agreed to lower its supplies by 1.2mn bpd from November 1 in an attempt to shore up prices, with top exporter Saudi Arabia expected to bear the brunt with a 380,000-bpd reduction.." [more]

Saudi Prince in Talks on Bahrain Disneyland [Feb 6]
"Saudi billionaire Prince Alwaleed bin Talal is in talks with investors to build an US$8 billion Disneyland theme park in Bahrain, at the heart of the world’s biggest oil exporting region.. ..Alwaleed indirectly owns 10 percent of Disneyland Paris operator Euro Disney, and his Rotana Audio Visual Co., signed a deal in November to distribute Walt Disney products across the Middle East and North Africa.." [more]

Palestinians Set for Mecca Talks [Feb 6]
"Palestinian leaders whose factions have engaged in deadly battles are preparing for talks in Mecca, Saudi Arabia, seen as a last chance to avoid civil war.. ..The mediating will be done by Saudi Arabia, which has significant political and financial clout. Saudi Arabia also has its own motives for seeking a solution to the crisis in Gaza, says the BBC's Middle East analyst Roger Hardy. Saudi leaders are deeply uneasy about the role of Iran in three of the region's main trouble spots - Iraq, Lebanon and Palestine.." [more]

Saudi Clerics Ban Subscription in Insurance IPOs [Feb 6]
"Two prominent Saudi clerics have warned Saudis not to buy shares in new insurance firms, saying they contravene Islamic rules on mutual insurance in the conservative kingdom.. ..For insurance to be compliant with Islamic rules, the risk and reward must be spread evenly between the customer and the insurer, unlike conventional insurance where the insurer takes on all the risk and receives a premium. Thirteen new insurance firms are expected to be launched in Saudi Arabia this year through initial public offerings of between 25 percent and 47.5 percent worth a total 936.4 million riyals ($249.7 million).." [more]

Gulf Nuclear Plans Take Shape [Feb 6]
"The Gulf states are expected to begin building a nuclear industry as a "sustainable and clean" source of power by 2009.. ..Abdullah Hamad Al Attiyah, the Qatari Deputy Prime Minister and Minister of Energy and Industry, told Gulf News in an interview here yesterday. "Oil and gas reserves will be exhausted sooner or later; 70 or 100 years is a long time for us, but not for our nations," he said. Al Attiyah said the GCC is currently conducting a wide-ranging study on the use of nuclear energy as a main source of power in the future.." [more]

Kingdom to Attend Geneva Conference on Refugees [Feb 6]
"The Kingdom will attend an international conference on Iraqi refugees to be held in Geneva in mid-April as part of its multilateral cooperation program involving the United Nations High Commission for Refugees (UNHCR).. ..The UNHCR last month launched a $60 million appeal for the rehabilitation of displaced Iraqis. Guterres said: “The situation is grim. Some one million Iraqis have been displaced internally, while over two million others have fled the country representing one of the biggest flows of refugees in history. We are trying to mobilize all available resources for the rehabilitation of these victims.." [more]

Saudi Arabia's Al-Rajhi Bank to Open 50 Branches by 2010 in Malaysia [Feb 6]
"Saudi Arabia's Al Rajhi Bank, the world's largest Islamic banking group, on Monday unveiled an aggressive plan to expand its operations in Malaysia to 50 branches by 2010. Al Rajhi has set up 12 branches since it opened for business in Malaysia with a soft launch in October.. ..Al-Rajhi said the group has no plans yet to venture into other countries in Southeast Asia, but would use Malaysia as a gateway to other regional markets. We would like to achieve 50 branches (in Malaysia) by 2010, he told reporters. We look at Malaysia as a platform to do more business in this region. But we are not going to open branches in other countries. We believe growth in the region is there and Malaysia is in a good position because it is a leader in Islamic banking.." [more]

~~~~~~~~~ [ Feb 5 ] ~~~~~~~~~

Saudis Silent on Terror Arrests [Feb 5]
"The Saudi authorities are remaining tight-lipped about the identities of 10 men arrested on Friday on suspicion of funding insurgents outside the country.. ..a defence lawyer says the men are reformists with no links to terrorism. Newspaper reports and relatives described them as professional people. They include lawyers and academics know for their reformist activities, according to reports in the Arab media. The 10 - who include liberals and moderate Islamists - have in the past signed petitions condemning violence and calling for political reform.." [more]

Saudi Price Hike Surprises [Feb 5]
"Saudi Arabia raised its crude prices for March as the world's largest oil exporter sought to trim supplies to abide by the latest OPEC cut, trade sources said on Monday. Although a price increase was expected, lifters and traders said they were surprised by its extent compared to February. 'This has nothing to do with the economics of the grade, but simply to cut availability. There is no other reason for such a big increase,' a European crude trader said. The kingdom agreed to reduce supply by 158,000 barrels per day, deepening its 380,000 bpd cut from Nov. 1, as part of a broader OPEC agreement reached in December.." [more]

Women Seek King’s Intervention in Fatima Case [Feb 5]
" Fearing for the future of the rights of Saudi women that are slowly being taken away from them in the name of Shariah after an appeals court upheld the forceful divorce of Fatima and Mansour, a group of Saudi women from across the Kingdom have launched a petition to be presented to Custodian of the Two Holy Mosques King Abdullah. The petition urges the king to allow Fatima’s case to be sent back to court and to disregard the divorce ruling so that the family can be reunited. The petition also calls for guidelines to ensure rejection of divorce cases that are taken to court by parties other than husband and wife.." [more]

Authoritative Analysis of Saudi Legal Sector [Feb 5]
"A ground-breaking analysis on Saudi’s legal landscape - which is undergoing significant change - is to be published following a tie-up between a leading law firm and an authoritative UK publisher. The deal, between Riyadh’s Al-Jadaan Law firm and Oxford Business Group (OBG) will see the analysis incorporated into OBG’s forthcoming inaugural edition of ‘Emerging Saudi Arabia 2007’ – which will be a leading guide to the Kingdom’s evolving political and economic trends.." [more]

Saudi Arabia's Nonoil Exports to Cross SR76 Billion [Feb 5]
"Saudi Arabia's non-oil exports will cross SR76 billion this year, according to Dr. Abdul Rahman Al-Zamil, chairman of the Saudi Export Development Center and a member of the Shoura Council.. ..Saudi non-oil exports jumped from SR35.7 billion in 2003 to SR48 billion in 2004, and SR60.5 billion in 2005. The figure was expected to reach SR70 billion in 2006.. ..Speaking about Saudi exports to Iraq, he said the value of such exports increased from SR50 million in 2004 to SR186 million in 2005. "Most of our products are exported to Iraq through other countries such as Kuwait, Jordan and the UAE. In fact, Saudi products worth SR3 billion reach Iraq directly and indirectly," he said.." [more]

Samba Sees Saudi GDP Growth in ‘07 Slowest in 5 Years [Feb 5]
"Saudi economic growth may fall this year to its slowest in five years as the world’s largest oil exporter cuts crude output as part of Opec efforts to shore up oil prices, Samba Financial Group said. Gross domestic product-growth could ease to 2.43% in 2007, compared with 4.2% last year on a 6.5% decline in oil output, Samba, the country’s second-largest bank by market value, said in a report received late on Saturday.." [more]

Saudis Begin 20-year Technology Research Plan With 7b Riyals [Feb 5]
"Saudi Arabia has allocated more than 7 billion riyals for high technology research, press statements said on Sunday. Gulf News has learned that 30 government departments have begun more than 162 research activities in high technology. The research will be conducted over the next five years.. ..The press statements pointed out that the five-year technology and research plan is part of a four-phase policy to be carried during the coming 20 years.." [more]

Abdullah and Merkel Discuss Mideast Crisis [Feb 5]
"German Chancellor Angela Merkel discussed with King Abdullah ways to revive the Middle East peace process. Merkel arrived in Riyadh early Sunday evening. She met King Abdullah, Crown Prince Sultan and Foreign Minister Saud Al-Faisal Sunday night. This is Merkel’s second stop during her four-day trip to the Middle East. Prince Saud said last week during a press conference that Middle East peace process will be the main agenda during the chancellor’s visit.." [more]

Saudi Stock Market Cap Drops 10.95% to SR1.09 Trillion [Feb 5]
"The total value of shares traded at the Tadawul dropped by 10 percent in January 2007 to reach SR183.08 billion ($48.82 billion) as compared to previous month. Tadawul said in its monthly report that at the end of January, the Tadawul All-Share Index (TASI) closed at 7,041.22 points, 11.24 percent lower than the 7,933.29 points posted in December 2006. The Tadawul index fell 63.87 points to 7,134.80 yesterday. Market capitalization also decreased by 10.95 percent to SR1.09 trillion ($291.09 billion) in the period under review.." [more]

Saudi to Boost Fuel Supply to U.S. Forces in Gulf [Feb 5]
"Saudi Arabia has steeply raised the amount of its jet fuel earmarked for the United States military, which is expanding its presence in the Gulf, Middle East trading sources said. They said state oil company Saudi Aramco may have put aside upwards of a million tonnes of the aviation fuel for possible use by the U.S. military this year, compared with around 200,000 tonnes in 2006.. ..The Pentagon dispatched a second aircraft carrier strike group to the Gulf last month. The Defense Energy Support Center (DESC), which oversees the Pentagon's fuel purchases, said an increased presence would entail more fuel demand.." [more]

~~~~~~~~~ [ Feb 4 ] ~~~~~~~~~

Merkel in Saudi Arabia Today [Feb 4]
"German Chancellor Angela Merkel arrives in the Kingdom today as part of a four-day trip to the Middle East that has already taken her to Egypt. Her visit is the first to Saudi Arabia since she became chancellor 14 months ago. After leaving the Kingdom, she will go to the United Arab Emirates and then to Kuwait.. ..Topping the agenda for discussions are Iraq, Iran, and the Palestinian-Israeli conflict. Foreign Minister Prince Saud Al-Faisal said last week that the Middle East peace process was one of the main topics to be discussed with the German chancellor.." [more]

Thailand, Saudi Arabia Bid to Repair Strained Relations [Feb 4]
"The charge d'affaires of Saudi Arabian embassy here is scheduled to meet with Thai Labour Minister Apai Chandanajulaka and the Permanent Secretary for Labour Monday regarding the Middle Eastern country's need to employ tens of thousands of Thai workers in its maintenance industry.. ..Relations between the two countries became strained after four Saudi diplomats were shot dead in Bangkok in February 1989 and a Thai worker in Saudi Arabia stole jewels and gems worth millions of dollars and sent them home in a crate of apples.." [more]

Saudi Writer Recasts Kingdom's History [Feb 4]
"..Dakhil's work, laid out in a series of articles published in November and December, was the first attempt by a Saudi-based scholar to revise the prevailing religious account of the birth of Saudi Arabia.. ..Though Saudi Arabia has enjoyed a freer press since the reign of King Abdullah began in 2005, two topics remain off-limits: the religious legitimacy of the state and succession within the royal family. Dakhil has brought up both. British historian Robert Lacey, author of "The Kingdom: Arabia and the House of Saud," said the religious purpose of the Saudi state has always been a principle beyond question. 'It's the founding article of faith for the state. To suggest otherwise is to question the roots of Saudi legitimacy.." [more]

Crude Surges on OPEC Cut, Cold Weather [Feb 4]
"Crude oil has surged above $US59 a barrel in New York, the highest close this year, because of increasing fuel demand in the US and production cuts by the Organisation of Petroleum Exporting Countries. Heating consumption in the US northeast would be 36 per cent above normal in the next week, Weather Derivatives, a forecaster in Missouri, said. Government reports have shown that the US is growing at a moderate rate, which may boost fuel use. OPEC agreed to trim output by 500,000 barrels a day, starting at the weekend.." [more]

Israel Violating Mosque Sanctity [Feb 4]
"A Saudi-based body of Islamic scholars yesterday condemned Israeli archaeological work near the Al Aqsa Mosque in occupied Jerusalem, saying it was a 'blatant violation' of the shrine's sanctity. 'The most serious element is plans to excavate under the walls of the Aqsa Mosque and its underground tunnels,'.. ..The Aqsa Mosque has been a flashpoint for Israeli-Palestinian fighting in the past. Control of the area has been a stumbling block in attempts to negotiate an end to the Israeli-Palestinian conflict.." [more]

Al-Namir Unhappy With Low Exposure of Actors [Feb 4]
"Saudi actor Abdul Mohsen Al-Namir is unhappy about the plight of Saudi artists who get little exposure on the Kingdom’s television channels. He says that most Saudi talent is being forced to try their luck elsewhere.. ..Protesting the slow pace at which the film industry is growing in the Kingdom, Al-Namir wants to see more Saudi films made such as 'Majadef Al-Amal' and 'Abu Shalakh Al-Burmai' which were received warmly by viewers outside Saudi Arabia.." [more]

Britain Donates SR1.6m for Community Services [Feb 4]
"Britain donated SR1.6 million for community services program in the Kingdom yesterday.. ..Abdul Latif Jameel Foundation will carry out community service-oriented projects in the Kingdom with the donation given by the United Kingdom. The project was financed by the Foreign and Commonwealth Office (FCO) Global Opportunities Fund (GOF). The GOF is the FCO’s largest program fund. Money from GOF is used to support projects which contribute to the UK’s international strategic priorities.." [more]

Bloomberg Holds Seminar on Middle East Stocks [Feb 4]
"Financial experts, bankers and analysts have attended a seminar conducted by Bloomberg, the world’s leading financial information network, on Equity Focus Day in Jeddah.. ..'The Middle East is the fastest growing market for Bloomberg in terms of terminal sales,” Ralf Haslbeck, Bloomberg equity project manager for Europe and Middle East, said while describing various features of Bloomberg services.'.. .. 'There was 36 percent sales growth in Saudi Arabia last year and we are looking for 50 percent growth this year'.." [more]

Prince Turki Al-Faisal to Deliver Lecture [Feb 4]
"Oxford University will organize in cooperation with Riyadh-based King Abdulaziz Foundation for Research and Archives, a lecture on the Saudi constitutional reform on Wednesday, Feb 7, 2007, at the Middle East Studies Center, an affiliate of the University. The lecture will be delivered by Prince Turki Al-Faisal, who will shed light on teh efforts exerted by the Saudi Leaders since the era of King Abdulaziz in the field of constitutional reform.." [more]

Prince Turki Attends Farewell Receptions, Events [Feb 3]
"Saudi Ambassador to the US Prince Turki Al-Faisal concluded his term in office with a flurry of events and meetings yesterday. In a farewell meeting with US Secretary of State Condoleezza Rice, Prince Turki highlighted the cooperation shown by the administration during his ambassadorship. The two also discussed various aspects of Saudi-US cooperation and the Kingdom’s efforts to promote stability in the Middle East region.Last night, Prince Turki attended a farewell reception held in his honor by the Saudi Embassy in Washington.." [more]

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