Apr 29-May 5, 2007

~~~~~~~~ [ May 5] ~~~~~~~~~

Situation is Worse in Iraq; Civil War Possible - Saudi Minister [May 5]
"In the wake of the so-called 'neighbours-plus' conference, Saudi Foreign Minister Saud al-Faisal in comments published Saturday said the situation in Iraq is only getting worse and that civil war could break out in the already-divided country.. ..Saudi Arabia, a strict Sunni state, has lately been brokering peace in the region - bringing rival Palestinian factions together through a Mecca-based peace deal and slowly embarking on a much bigger role in Middle East peace and conflict issues. But so far, the state has not given its unswerving 'blessing' to al-Maliki. When asked by al-Hayat if the Saudi government was willing to back al-Maliki's cabinet, al-Faisal said: 'We do not interfere in the internal matters of Iraq or any other country. This is up to the Iraqis.'.." [more]

Challenging Saudi Arabia’s Powerful, One Caller at a Time [May 5]
"Every Monday night, Salama al-Zaid puts on his headphones, pulls his microphone close and goes to war on his radio talk show with some of the most powerful figures in this desert kingdom. For two hours, from 10 p.m. to midnight (prime time in Saudi Arabia), Mr. Zaid opens the phone lines for callers to air their complaints, uncensored and unhindered. Then he takes on the people in high places responsible for fixing those problems. 'I wish all those officials who are listening to remember this,' Mr. Zaid began on a recent night. 'You are servants of the citizens, you have a duty to them. It is not below you to call in and respond'.. ..Mr. Zaid, 49, is the host of “Mubasher FM,” a show as remarkable for what it says about Saudi Arabia as for the powerful backing it has gotten from the country’s ruler, King Abdullah.." [more]

The US Needs a Friend Like Saudi Arabia [May 5]
"The vacuum in Middle East diplomacy is frightening as Saudi Arabia's role as the emerging political leader in the region has been undercut by the Bush Administration. The Saudi initiatives have not been picked up by the United States, while some of them are being encouraged to wither away. This has created a serious absence of momentum, which means that those who are profiting from the increased violence are delighted. It has also generated a new phenomenon of institutional Saudi anger at American disdain for the Saudi efforts, which has also been interpreted as ignoring their position as a country which has been allied to the United States for decades. And at this time the US cannot afford to lose its friends in the region.." [more]

Prince of Saudi Holy City of Mecca Dies [May 5]
"Prince Abdul-Majid bin Abdul-Aziz, the governor of the Islam's holy city of Mecca, died Saturday after a long illness, a Saudi Arabian royal statement said. He was 65. Abdul-Majid, who was the half brother of Saudi King Abdullah, was flown to the United States where he died after sudden health deterioration.. ..Abdul-Majid is the 33rd son of the kingdom's founder, the late King Abdul-Aziz, who had 36 sons. In 1985, the late King Fahd appointed Abdul-Majid, who has one son, Faisal, as governor of the holy city Medina. Fifteen years later, he became the head of Mecca.." [more]

Kingdom Aims to Become No. 3 in Petrochemicals Sector [May 5]
"Saudi Arabia has its eyes set on becoming the No. 3 petrochemicals producer by 2015, said Minister of Petroleum and Mineral Resources Ali Al-Naimi at the Arab Economic Forum in Beirut yesterday. The Kingdom is currently ranked No. 10 in the production of petroleum derivatives.. ..the Kingdom is expected to hit the 100-million-ton mark by 2015 with an annual growth rate of about 12 percent. 'This would make the Kingdom the third largest petrochemicals producer in the world,' Al-Naimi said. In the early 1980s, investments in this sector were less than $500 million. This has grown to $20 billion in 2000, according to the minister. 'We can safely say that the increase in investments between 2005 and 2012 will total $70 billion,'.." [more]

Tadawul Rebounds on Strong Performance of Blue Chips [May 5]
"The Saudi stock market rebounded last week, buoyed by the strong performance of blue chip firms, particularly the Saudi Basic Industries Corporation (SABIC), which accounts for 26 percent of the market’s capitalization. The Tadawul All-Share Index (TASI) climbed 3.57 percent last week, closing at 7,533.11 points from 7,273.34 points previous week. However, TASI currently remains 5.0 percent lower than the year’s start.." [more]

Naif: Time to Attack Terror Ideology [May 5]
"Prince Naif Bin Abdul Aziz, Minister of the Interior, praised the Kingdom's physical efforts of attacking terrorism but called on authorities to strengthen their attack on its ideological roots.. ..Prince Naif expressed 'total dissatisfaction with the level of intellectual, social, scientific, educational or informational work to confront the intentions of the deviant group and uncover their plans aiming at sowing [the seeds of] sedition, destroying the country and its national potential.' He called the intellectual approach to terrorism 'weak' and 'not comparable to the security efforts.' He said, 'I hope that all state authorities, the Saudi people and expatriates living on Saudi soil will work shoulder-to-shoulder to confront the deviant group in order to protect the nation, its people and its progress'.." [more]

~~~~~~~~ [ May 4 ] ~~~~~~~~~

Cheney to Visit Saudi Arabia on Mideast Tour [May 4]
"U.S. Vice President Dick Cheney will go on a Middle East tour next week that will include a visit to Saudi Arabia, which has had strained relations with the United States over Iraq in recent months. The vice president's office said Cheney leaves on Tuesday on a trip to the United Arab Emirates, Saudi Arabia, Egypt and Jordan 'for discussions with the leaders of these nations on key issues of mutual interest'. His trip will include a meeting with Saudi King Abdullah, who in March said Iraq was under an 'illegitimate foreign occupation,' a charge the White House rejected.." [more]

Saudi Arabia, Kuwait and Russia Fail to Offer Immediate Debt Relief to Iraq [May 4]
"Saudi Arabia said it is still negotiating with Iraq over writing off billions of dollars owed it by the war-torn country, and major creditors Kuwait and Russia failed to offer immediate debt relief - a key goal of an ambitious blueprint launched Thursday to stabilize Iraq. The absence of major commitments to reduce Iraq’s burdensome debt was a disappointment at a major regional conference in the Egyptian resort aimed at showing support for Iraq - and a sign that some, particularly Sunni Arab nations, are still keeping their distance from Iraq’s Shiite-led government.." [more]

Sudan, Chad Sign Reconciliation Deal in Saudi [May 5]
"President Omar el-Beshir and Chadian President Idriss Deby Itno signed a reconciliation accord in the Saudi capital yesterday aimed at ending tensions between their two countries. The televised signing took place at a summit hosted by Saudi King Abdullah, with the deal committing each of the parties to refrain from supporting rebels in the other country.. ..Relations between the two countries nosedived after deadly border clashes between Sudanese and Chadian soldiers on April 9 in and around the war-torn Darfur region of western Sudan. Chad apologised to Sudan but said it was in hot pursuit of rebels who had crossed into Darfur. Khartoum said 17 of its soldiers were killed. Sudan and Chad accuse each other of supporting rebel forces.." [more]

Saudi Arabia: Rights of Women Journalists Discussed [May 4]
"The issue concerning the rights of Saudi women journalists dominated the Second Women’s Media Forum that ended here yesterday. The forum, 'Media Vision for Economic Horizons,' decided that a letter drafted by journalists and media representatives would be handed to Princess Adela bint Abdullah, the patron of the forum, which she would give to Custodian of the Two Holy Mosques King Abdullah seeking his help to end injustice and solve the problems of women journalists. The letter would document all the problems they face in their profession.." [more]

Saudi Arabia to Raise Asia Prices for Third Month in a Row [May 4]
"Saudi Arabia is expected to raise the price of its heavier grades to Asian buyers for the third month in a row in June as refinery maintenance in Asia drives margins above $10 a barrel.. ..The Saudi official selling prices are usually released around the fifth of each month before crude starts loading, and set the trend for Iranian, Kuwaiti and Iraqi prices, altogether impacting the price of over 8 million bpd of crude sold to Asia. Traders polled expected the heaviest grades - Arab Heavy, Arab Medium and Arab Light - to rise by an average 30 cents a barrel.." [more]

17-Year-Old Math Genius Is Cynosure of All Eyes [May 4]
"Wael Al-Ghamdi, an 11th-grade student from Jeddah’s Dar Al-Fikr School, will represent Saudi Arabia in the 48th International Mathematical Olympics 2007 (IMO). The 17-year-old Saudi achieved first place in the annual mathematics competition sponsored by the Ministry of Education. He competed with 428 young men and women 12th graders.. ..Now Al-Ghamdi will compete in the IMO, which will take place July 19-31 in Vietnam. Winners will receive scholarships to prestigious universities. He will also spend six weeks this summer interning at the Massachusetts Institute of Technology.." [more]

Saudi Policy Steers Former Detainees to Settled Life [May 4]
"Alarmed to find that detainees are emerging from the Guantánamo Bay prison camp and other U.S. detention centers more devoted than ever to radical Islam, Saudi Arabia is offering counseling, financial aid and even matchmaking to pull young militants away from terrorism. To keep the former detainees away from deep-pocketed militant recruiters, Saudi officials have treated them to perks that have included new cars, resort stays, job placement and help in finding brides. They have also exposed them to moderate clerics and reminded them of Islam's restrictive rules for waging holy war, or jihad. Saudi officials said the goal is to stop the proliferation of radical ideology that they said is bred in prisons and on the Internet.." [more]

~~~~~~~~ [ May 3 ] ~~~~~~~~~

Saudi Arabia, Gulf Oil Producers Assure Asia on Supply [May 3]
" OPEC power Saudi Arabia and core Gulf oil producers assured Asian consumers on Wednesday of secure supplies, but signalled they would not pump more to ease high prices. Brent crude, for now more representative of global prices than US oil, has climbed towards $67 a barrel from around $50 in January stoked by strong demand for US gasoline and low stocks in the world’s top consumer.. ..Security of supply is a nagging worry for Asia, where economic expansion is leading to growing import dependence on the volatile Middle East. The region, home to 60 percent of the world’s oil reserves, supplies Asia with 55 percent of its oil.." [more]

US Commission Condemns Saudi Religious Intolerance [May 3]
"The US Commission on International Religious Freedom continues to list Saudi Arabia as a "country of particular concern," for refusing to recognize any faith other than Islam. Commission vice chair Nina Shea says Saudi Arabia bans any non-Islamic public worship, and even private worship by non-Muslims can result in imprisonment, torture or deportation.. ..The State Department has accepted the commission's recommendation that Saudi Arabia be listed among the world's worst religious persecutors since 2005, but the Saudis have received an executive waiver from possible US sanctions.." [more]

Saudi Aluminum Industry Takes Off [May 3]
"Some $12 billion of investment is being committed to create a major aluminium industry in Saudi Arabia which will give the Kingdom a leading part in the Gulf's increasingly important role in global production. The region now accounts for some 8 per cent of world aluminium production and with new smelters and expansions to existing facilities coming on stream this is likely to rise substantially.. ..This confidence is shown by the $7 billion agreement to exploit the Kingdom's northern bauxite deposits and also construct and operate an aluminium smelter on the east coast of Saudi Arabia reached by Saudi Arabian Mining Company (Maaden) and Alcan.." [more]

U.S. Seeks Tighter UK Laws After Saudi Case [May 3]
"The United States said on Wednesday it hoped to help tighten UK anticorruption laws amid reports of a possible U.S. criminal probe into alleged bribery of Saudi officials by BAE Systems Plc (BA.L), Britain's top military contractor.. ..The United States has been in touch as a signatory of an anti-bribery convention of the Paris-based Organization for Economic Cupertino and Development, he said. Washington also was acting as a member of an OECD working group on bribery, Davidson said, which outlined what it called "shortcomings" in British anti-bribery legislation in March.." [more]

Chad-Sudan Seek to Mend Relations at Saudi Summit [May 3]
"Saudi Arabia's King Abdullah will oversee a summit between the leaders of Sudan and Chad on Thursday in a bid to repair damaged relations between the two states.. ..Relations between the two countries nosedived after deadly border clashes between Sudanese and Chadian soldiers took place on April 9, in and around the war-torn Darfur region. Sudan and Chad accuse each other of supporting rebel forces in their respective territories amid international fears that the continuing strife in Sudan's western Darfur region will spill over into Chad and ignite a regional war.." [more]

Efficiency May Curb Need for Future Oil Expansion – Saudi [May 3]
"Top world oil exporter Saudi Arabia said further expansion of its production capacity may not be needed beyond 2009 as consumers grow more energy efficient and switch to alternative fuels. Saudi Oil Minister Ali al-Naimi said in September the drive to conserve fuel could slow investment by producer countries. His comments yesterday were the strongest signal yet of the need for evidence that demand growth would justify new supplies. The kingdom is on track to meet an existing capacity target of 12.5mn barrels per day (bpd) by the end of 2009 – up from 11.3mn now.. ..'Our feeling now with this thrust and push for conservation, efficiency and the use of alternatives is that we probably need not go beyond 12.5mn bpd,' he said in Riyadh after a meeting of Middle East and Asian oil ministers.." [more]

Mosques and Charitable Bodies to Help Fight Terror [May 3]
"The Saudi government is involving charitable and community organisations to fight terrorism and extremist ideologies. An official of a community organisation in Saudi Arabia said Prince Naif Bin Abdul Aziz, Interior Minister, has asked these societies to play an active role in the security campaign and tackle those adopting "deviant ideologies", a term widely used in Saudi Arabia to mean terrorists and extremists.. ..The Saudi Ministry of Islamic affairs is planning to have more than 15,000 preachers to focus on the dangers of terrorism and the importance of fighting it during their Friday sermons.." [more]

Saudi-Egyptian Causeway to Link Two Continents [May 3]
"During his visit to the Kingdom’s northern region next week, Custodian of the Two Holy Mosques King Abdullah is expected to launch a number of important projects, including the long-awaited Saudi-Egyptian Causeway which will link the continents of Asia and Africa. The Saudi monarch, who is visiting the region for the first time since becoming king in 2005, will also open the project for the construction of Tabuk University. The first phase of the project will cost about SR1 billion ($375 million) and include 16 colleges. Informed sources said King Abdullah would lay the foundation stone for the 50-km causeway linking Saudi Arabia and Egypt. The causeway will be built in three years at a cost of $3 billion. It will link Ras Humaid in Tabuk with Sharm El-Sheikh in Egypt and pass through Tiran Island.." [more]

Saudi Students Look Toward Malaysia for Higher Studies [May 3]
"An increasing number of Saudi students are going to Malaysia for higher studies. “As many as 172 Saudi students are already pursuing studies in Malaysia and 300 more will be joining them in due course,” Malaysian Minister of Higher Education Mustapa Mohamed told a press conference here yesterday. This is in pursuance of the Kingdom’s plan to look eastward, especially to Malaysia, in addition to China, India, Singapore and South Korea.. ..With rising population rates, more than 50 percent of inhabitants categorized as “young,” rising labor market expectations and a booming economy, the Saudi government has recently increased funding for overseas study and announced that foreign providers will receive authorization to set up campuses in the Kingdom.." [more]

~~~~~~~~ [ May 2 ] ~~~~~~~~~

Kingdom Stays Committed to Asia’s Growing Energy Needs [May 2]
"Saudi Arabia will continue to show its commitment to Asian markets by developing strategic joint ventures with Asian countries. Currently the Kingdom has formed joint investments with four Asian countries — Korea, Japan, China and the Philippines — Assistant Minister of Petroleum and Mineral Resources Prince Abdul Aziz ibn Salman said here yesterday. The Kingdom is hosting today the 2nd Asian Ministerial Energy Round Table under the theme (Promoting Prosperity through Energy Interdependence and Cooperation). The event will be attended by ministers from over 20 oil producing and consuming countries. Japan is co-hosting the event.." [more]

India Says Interested in Saudi Oil Storage [May 2]
"Major Asian oil consumer India said on Wednesday it would be interested in a deal for Saudi Arabia to store oil on its territory, after Japan recently revealed it would enter talks on storing Saudi crude. "Why not?" Indian Minister of Petroleum and Natural Gas Murli Deora told reporters at a meeting in Riyadh of Asian and Gulf oil ministers. "We have heard about that, but have not had such offers yet," Deora said. Indian Oil Corporation (IOC) Chairman Sarthak Behuria said the country did not currently have any strategic storage available.. ..Japan and Saudi Arabia agreed on Saturday to start negotiations to allow Saudi Arabia, the world's top oil exporter, to use existing reserve facilities in Japan.." [more]

Saudi Rejected Advice for Talks with Maliki [May 2]
"Saudi Arabia's King Abdullah ignored US advice when he declined to meet Iraqi Prime Minister Nuri Al Maliki on the eve of international meetings in Egypt on Iraq's future, the US State Department said. While acknowledging the Saudi rebuff, spokesman Sean McCormack noted that the kingdom will be represented at the meetings, including one in which the Saudis are expected to announce significant debt relief for Iraq. The meeting will launch the International Compact with Iraq, under which the country will receive outside assistance in exchange for internal reforms.." [more]

Saudi Arabia: Shoura Debate on Weekend Change Divides Citizens [May 2]
"A healthy debate on whether to change the Kingdom’s official Thursday-Friday weekend to Friday and Saturday took place at the Shoura Council recently. The proposal had been presented for discussion to the Shoura Council’s Management and Human Resource Committee by the Civil Service Ministry. It will subsequently be voted on and if passed would then be sent to the Council of Ministers for approval. Currently, the Kingdom is officially off on Thursdays and Fridays, which are working days in most parts of the world.." [more]

Food Price Rise Lifts Saudi Cost of Living [May 2]
"The cost of living index (CLI) in Saudi Arabia increased by 0.3 per cent in February compared to January.. ..The report attributed the CLI's rise to the 3.3 per cent increase in prices of food and beverages, a main component of the index. The price of fresh vegetables rose 21.1 per cent (on an average) and fish by 5.1 per cent. The report pointed out that another component - renovation, leasing, fuel and water - recorded an increase of 0.7 per cent. They were affected by increase in rents (0.9 per cent) and energy and power (0.6 per cent).." [more]

Nearly 100,000 Historical Sites Dot Saudi Landscape [May 2]
"Saudi Arabia is replete with archaeological sites dating back to thousands of years, according to Dr. Mohammed Al-Ruwaished, deputy minister of education for antiquities and museums. 'There are nearly 100,000 historical sites in the Kingdom and we have already identified and registered 3,700 main sites. Some of these have 80 to 100 related sites in different localities,'.. ..The Kingdom’s historical sites and museums will attract a large number of foreign tourists. The SCT chief has said that Saudi Arabia wants to attract 1.5 million tourists a year by 2020, excluding the millions who come on Haj and Umrah pilgrimages. He spoke of the ambitious goal of making tourism to account for 18 percent of the country’s gross domestic product by 2020.." [more]

~~~~~~~~ [ May 1 ] ~~~~~~~~~

Oil Steadies as Saudi Supply Security Fears Ease [May 1]
"Oil steadied as fears about security of supply from Saudi eased, and as traders switched focus towards weekly US stocks data due tomorrow.. ..New York crude for June delivery was down 17 cents at 65.54 usd a barrel. Prices have been softer this week having spiked Friday after Saudi Arabia said it had arrested 172 militants it said were plotting attacks on oil installations. Brent prices are trading about 1 pct lower than last week.. ..Early estimates show crude stocks may have built last week in the world's top consumer. Some analysts also called for gasoline inventories to have risen for the first time in 12 weeks. Gasoline stocks are the most closely watched indicator ahead of the driving season, which starts late May.." [more]

Saudi Restricts Chemical Use After Foiling Militants’ Plot [May 1]
"Saudi Arabia yesterday curbed the sale of industrial and agricultural chemicals that can be used to make explosives used by Al Qaeda-linked militants. The government decision comes days after the government said it had arrested 172 militants, including some trainee pilots, planning attacks on oil facilities, military bases and government officials in the world’s biggest oil exporter. The Saudi cabinet said after a meeting chaired by King Abdullah the sale of various nitrate compounds in their solid form was banned for three years, and farmers may only use liquid chemicals as fertilisers. The decision allowed the import of the chemicals in their solid form for medical, industrial and scientific purposes only.." [more]

King Pays Surprise Visit to Cameroonian Twins [May 1]
"King Abdullah paid a surprise visit to the King Abdulaziz Medical City (KAMC) yesterday to see the recently separated Cameroonian conjoined twins, Phambom and Shefbou, who underwent surgery on April 21. In response to a request made by the parents of the twins, James Akumpu and Emmevena Nyamale, the king directed the hospital to perform the separation surgery at his expense. The parents’ airfare, pre- and post surgery expenses and their stay in the Kingdom are being borne by the king.. ..The king expressed happiness at the rapid recovery of the twins following the surgery and he said he was happy that the Kingdom was able to help the distressed couple.." [more]

U.S. Says Saudi Arabia, Iraq in Dispute [May 1]
"The United States suggested on Monday Saudi Arabia support the Iraqi government led by Prime Minister Nuri al-Maliki which has been struggling against the growing violence in the country. Speaking to reporters, White House spokesman Tony Snow described the refusal of Saudi Arabia's King Abdullah to meet Iraqi Prime Minister al-Maliki ahead of a regional summit on Iraq security this week as a 'dispute between the two nations.' 'At this point that is a dispute between the two nations,' said Snow. 'We think it's important for nations in the region to understand the importance of an Iraqi democracy that can stand up and also can stand as a bulwark against terrorism, which is a threat to all nations of the region whether they be Sunni, Shi'a or others,'.." [more]

The Bank of New York Selected by Riyad Bank, Saudi Arabia for Tri-Party Collateral Management [May 1]
"The Bank of New York, a global leader in securities servicing, was selected by Riyad Bank, Saudi Arabia to conduct one of the first ever tri-party repo transactions in the MiddleEast. The transaction, in which Riyad Bank provided a diverse pool ofinternational fixed income securities, is expected to be the springboardfor an active collateral management program going forward.. ..In a tri-party collateral management transaction, the Bank acts as an intermediary between a buyer and seller, or lender and borrower of securities to ensure proper collateralization throughout the term of the transaction.." [more]

Maaden in SR26bn Deal [May 1]
"The biggest deal in the history of the Saudi Arabian Mining Company (Maaden) was signed in Riyadh yesterday. The SR26.25 billion joint venture agreement seeks to develop the Kingdom’s huge bauxite resources and to build and operate a “mine-to-metal” industry. Capitalizing on the Kingdom’s abundant energy reserves, the fully integrated project will include bauxite mining, alumina refining, a power plant and aluminum smelting.. ..The agreement sets in motion one of the world’s largest vertically integrated projects of its kind. The initial phase includes the construction of a power plant delivering 1,400 megawatts, developing a 90-million-ton bauxite reserve located in Al-Zubeira in northern Saudi Arabia, building an alumina refinery with a capacity of 1.6 million tons per year and an aluminum smelter with a capacity of 720,000 tons per year.." [more]

~~~~~~~~ [ Apr 30 ] ~~~~~~~~~

Japan Offers Oil Storage in Okinawa for Use of Saudi Arabia [Apr 30]
"Japanese Prime Minister Shinzo Abe proposed a plan to Saudi Arabia Saturday night to let the country use part of the state-owned oil storage tanks in Okinawa prefecture in exchange for a preferential right to purchase the oil reserves there in case of emergency, Japanese officials said.. ..The oil storage plan is designed to deepen Japan's interdependent relationship with Saudi Arabia and ensure a stable oil supply.." [more]

The Gulf Is Targeted: Abdullah [Apr 30]
"Custodian of the Two Holy Mosques King Abdullah yesterday received GCC Shoura Council members at his palace in Riyadh and urged them to work for strengthening the unity of the Gulf Cooperation Council. 'Our Gulf is now a target. I myself and other Gulf leaders are aware of them,' the king said, referring to the forces targeting the region. He reminded the Shoura members of their tremendous responsibility.. ..Abdullah told the members that if they did not take the initiative to strengthen the GCC, later generations will have to do that. 'You have to tell foreigners that we are a peace-loving people and our citizens are brothers in blood, language and faith.' He also emphasized the need for instilling patriotism in GCC citizens.." [more]

Saudi 'Kremlinology' Heats Up With King Talk [Apr 30]
"In Soviet Russia, it was called 'Kremlinology.' The intricate and ultimately futile analysis of an opaque ruling system dominated by ageing men in suits, who made a career out of giving little away. In Saudi Arabia, for suits just read 'white robes.' Interpreting minuscule movements in the political geography of Saudi Arabia's closed system of government is a favorite parlor game among journalists, diplomats and businessmen, as well as the ambitious hoping for appointments to state bodies. But a ripple of excitement has shifted the sands in recent months with indications that Prince Salman bin Abdul-Aziz, the governor of Riyadh and half-brother of King Abdullah, is positioning himself as second-in-line to the 
throne.." [more]

Saudi Stocks Unlikely to Come Out of the Woods [Apr 30]
"The Saudi stock market dropped yesterday after chalking up gains for the last three trading days. According to BMG Financial Advisors, a leading provider of financial services in the Kingdom, the initial public offering (IPO) of Saudi Kayan Petrochemical Co., which opened for subscription on Saturday, has had an inadvertently detrimental impact on the Saudi stock market. The Saudi Kayan IPO with a total SR6.7 billion ($1.8 billion) to be raised is expected to draw a fair amount of market liquidity over the 10-day subscription period. Many market participants, mainly the retail investors, have decided to liquidate their portfolios in order to participate in the IPO. This will have a negative impact, therefore, on share prices, which in turn, induces other retail investors to sell down positions. Accordingly, with both market liquidity and stock prices declining, it is unlikely that the market will be able to make a breakout from its poor performance, to start recovering.." [more]

Official Denies Foreign Help in Foiling Terror Plot [Apr 30]
"Saudi Arabia yesterday dismissed reports saying that foiling of attempts by terrorists to carry out attacks in and outside Saudi Arabia was carried out in cooperation with foreign security bodies.. ..Al Turki was responding to reports carried by some Qatari and Kuwaiti newspapers saying that Kuwaiti and Egyptian authorities cooperated with Saudi authorities in cracking terrorist cells.." [more]

~~~~~~~~ [ Apr 29 ] ~~~~~~~~~

Saudi King Declines to Receive Iraqi Leader [Apr 29]
"In a serious rebuff to U.S. diplomacy, King Abdullah of Saudi Arabia has refused to receive Iraqi Prime Minister Nouri al-Maliki on the eve of a critical regional summit on the future of the war-ravaged country, Iraqi and other Arab officials said yesterday. The Saudi leader's decision reflects the growing tensions between the oil-rich regional giants, the deepening skepticism among Sunni leaders in the Middle East about Iraq's Shiite-dominated government, and Arab concern about the prospects of U.S. success in Iraq, the sources said. The Saudi snub also indicates that the Maliki government faces a creeping regional isolation unless it takes long-delayed actions.." [more]

Saudi Arabia to Build Two More Economic Cities This Year [Apr 29]
"Saudi Arabia will build two more economic cities this year, making the total economic cities in the Kingdom to six, a senior government official said here yesterday. The two economic cities will be built in the Northwest of the Kingdom and in the Eastern Province, announced Governor of the Saudi Arabian General Investment Authority (SAGIA). 'The impact of these six economic cities by 2020 is $150 billion in contribution to GDP growth, 1.3 million jobs to be created, and to accommodate 4.8 million of the total population,' Amr Al-Dabbagh said.." [more]

Foreign Recruitment Doubles in a Year [Apr 29]
"The recruitment of foreign manpower increased by 100 percent within a year despite the Saudization drive. The reason is the launch of new development projects, including mega economic cities that require a large number of skilled workers. Authorities had predicted that the new development projects would create more job opportunities for young Saudis and reduce the country’s unemployment rate which is estimated at 12 percent. According to the latest study by the General Statistics Department, there are about 470,000 unemployed Saudis. A Labor Ministry official recently told the London-based Financial Times that his ministry had issued 750,000 visas for foreign manpower within a year.." [more]

Saudi King Discusses Palestine with Abbas [Apr 29]
"Palestinian President Mahmoud Abbas met Sunday with Saudi King Abdullah Bin Abdul Aziz in Riyadh. Abbas briefed the Saudi king on developments in the Palestinian territories following what the Palestinian news agency WAFA called the Israeli military escalation against the Palestinian people. The two also reportedly talked about efforts to push the peace process forward.." [more]

We Aren’t Done With the Terrorists Yet, Prince Naif Says [Apr 29]
"Interior Minister Prince Naif said in comments published yesterday that Saudi Arabia would continue its campaign to root out terrorists in the country. He commended the security forces for their efforts to arrest 172 suspected militants belonging to seven terror cells across the country. 'We cannot say that we are done with these deviants,' Prince Naif told Al-Riyadh Arabic daily. 'But efforts will continue. The eyes...are wide open and efforts are under way to cleanse our country of every evil,' he said about the Kingdom’s campaign against Al-Qaeda militants.." [more]

Multilayered Ties Proposed [Apr 29]
"Japan’s Prime Minister Shinzo Abe proposed yesterday to forge a 'multilayered relationship' beyond oil with the Middle East, hoping to herald a new era of ties between Tokyo and the region.. ..Speaking at a forum of about 300 Japanese and Saudi businessmen in Riyadh, Abe said Japan would contribute to the development of human resource in the Kingdom. “One of the aims of my visit is to establish multilayer economic relations that go beyond traditional economic relations that focus on oil,” Abe said. The prime minister said that he wanted to establish “a new era of relations between Japan and the Middle East” in which strategic relations between Japan and the Kingdom would include cooperation in combating terrorism, discussions on developments in the region, and cooperation on the humanitarian front.." [more]

Apr 22-Apr 28, 2007

~~~~~~~~ [ Apr 28 ] ~~~~~~~~~

Saudi Militant Plot Mirrored 9/11 Attack [Apr 28]
"Al-Qaida-linked plotters hoped to reproduce the Sept. 11, 2001, attacks, planning to send suicide pilots to military bases and attack the oil refineries that drive the economy of Osama bin Laden's homeland, the government said Saturday. Revealing new details of the purported plot, a government spokesman said some of the 172 attackers trained as pilots in an unidentified 'troubled country' nearby, hoping to use the planes to carry out suicide attacks. The spokesman, Maj. Gen. Mansour al-Turki, would not say where the training took place: 'It could be Iraq, Somalia, Pakistan, there are so many troubled regions in the world. I can't specify'.." [more]

Saudi Says Qaida Threat Not Over [Apr 28]
"An interior minister on Saturday vowed to maintain a crackdown on Al Qaida, saying the arrest of 172 suspects did not end the Al Qaida threat in Saudi Arabia. 'We cannot say that we are finished from these deviants,' said Prince Nayef told Al Riyadh newspaper. 'But efforts will continue,' he said. Prince Nayef also told the Arabic newspaper that a Saudi man was being held on suspicion of leading a plot to attack oil facilities and military bases.. ..Islamist militants loyal to Al Qaida have vowed to destroy the US-allied Saudi monarchy.." [more]

Crude Rises as Saudi Foils Oil Field Attack [Apr 28]
"Oil prices rose today after Saudi Arabia said it foiled an Al-Qaeda-linked plot to attack the kingdom's oil facilities, rekindling concerns over the vulnerability of world energy supplies. The news came against the backdrop of expectations that the United States will face a petrol inventory crunch when drivers hit the roads this summer vacation season after a slew of refinery outages slashed stockpiles.. ..Opec kingpin Saudi Arabia said it arrested 170 people suspected in a plot to attack oil facilities and military bases, including some trainee pilots preparing for suicide operations.." [more]

Japan to Extend Saudi Ties Beyond Oil [Apr 28]
"Japan and Saudi Arabia need to move beyond oil and build a broad economic partnership that will benefit both their nations and the Middle East as a whole, Japanese Prime Minister Shinzo Abe said on Saturday. He is in Saudi Arabia on the first stop of a five-nation Middle East trip aimed at boosting Japan's profile in the region and ensuring a stable energy supply from an area on which it relies for nearly all its crude oil.. ..The Middle East provides some 90% of Japan's crude oil, with Saudi Arabia alone accounting for nearly 30%, and Japan has recently said it is concerned about securing a stable supply of oil in the face of growing competition from China and India.." [more]

Saudi Government Approves Two New Real Estate Firms [Apr 28]
"In a bid to boost real estate investments in Saudi Arabia, the ministry of commerce and industry has licensed two stock companies to operate in the kingdom's market. Up to the end of the second quarter of 2006 Saudi banks have pumped 13.4 billion riyals into financing real estate projects in the kingdom. An official was quoted recently as saying that in order to meet demand, Saudi Arabia will need to build 1.5 million new homes by 2015. The increasing population growth rate, one of the highest in the world, and high demand on housing units means Saudi Arabia, needs to find other financing for real estate sector, besides the government.." [more]

Saudi Arabia Introduces New Gun Laws [Apr 28]
"The Saudi Ministry of Interior has doubled the duration of licenses to own or carry a weapon to ten years [for individuals] and to five years for marksmanship clubs and stores that sell weapons under a new bill for arms and ammunition. The bill which was approved recently by the Interior Minister, Prince Naif Bin Abdulaziz, has specified that the age for practicing shooting at clubs would be set at 18 and a license to own and carry a weapon would be granted at the age of 21.. ..Regarding the commercial activity of the arms trade, the bill has outlined conditions for those applying for permits to import personal firearms, air rifles, and hunting weapons to be at least 25 years of age with a valid commercial registration and a bank guarantee of SR500,000 (US $133,000).." [more]

Young Gulf Nationals Left Behind [Apr 28]
"Saudi Arabia's economy is booming. The government and private sector are on an investment spree. But young people like Mohammad, a 23-year-old living in the Suwaidi neighbourhood on the edge of the capital Riyadh, have yet to taste the fruits. Passing the time with his older brother Mahmoud at a juice bar, he said he was still unemployed and did not expect his situation to improve.. ..the two young men, sons of a military officer, are not actively looking for work. Displaying indifference as they live off their family, they said all their friends were jobless. 'We spend our time on the streets,' said Mohammad. 'Saudi Arabia is rich, but you need connections to get a job.' The young men's case is not isolated.." [more]

Abdullah, Abe to Discuss Key Issues [Apr 28]
"Custodian of the Two Holy Mosques King Abdullah will receive Japanese Prime Minister Shinzo Abe who will begin a two-day visit to the Kingdom today. The visiting prime minister will also meet Crown Prince Sultan, deputy premier and minister of defense and aviation. They will discuss ways to enhance relations between the two countries and regional and international issues. The Council of Saudi Chambers of Commerce has arranged a meeting of the Saudi businessmen with the Japanese premier and the 180-strong business delegation, representing leading Japanese companies, accompanying him.." [more]

Russia Hails Antiterrorist Operation in Saudi Arabia [Apr 28]
"Russia supports Saudi Arabian efforts in maintaining security and stability and praises the recent antiterrorism operation in the Middle East country, a spokesman for the Russian Foreign Ministry.. ..'We can only support the decisive measures by Saudi Arabia to enhance security and stability in the country and to root out a network of terrorism,' Mikhail Kamynin said. 'We view the antiterrorism operation conducted by Saudi Arabian law enforcement bodies as a considerable contribution to the international efforts in the fight against terrorism'.." [more]

~~~~~~~~ [ Apr 27 ] ~~~~~~~~~

Saudi Ambassador Meets With UN Secretary-General on Darfur [Apr 27]
"Saudi Ambassador to the United States Adel A. Al-Jubeir today met with United Nations Secretary- General Ban Ki-moon at the UN in New York to discuss the situation in Darfur and other regional issues.. ..'The situation in Darfur is a human tragedy," Ambassador Al-Jubeir said. "Enhancing security will save lives and allow for more effective distribution of humanitarian assistance. We commend the Secretary-General for his efforts in this regard'.." [more]

Saudis Hold 170 Terror Suspects [Apr 27]
"More than 170 terror suspects have been arrested in Saudi Arabia, officials there have said. Those detained are said to be both Saudi and foreign nationals, Interior Ministry spokesman Gen Mansur al-Turki told local media.. ..'Some have begun training on the use of weapons, and some were sent to other countries to study aviation in preparation to use them to carry out terrorist operations inside the kingdom,'.." [more]

US Makes Formal Protest Over Dropping of BAE Inquiry [Apr 27]
"US officials made a formal protest to the Foreign Office over Britain's decision to drop an inquiry into allegations that BAE Systems had bribed Saudi royals. The Foreign Office confirmed today that the verbal protest was made by a US embassy official at a meeting at the department in January.. ..Today a Foreign Office spokesman said that the US protest in January was a reiteration of concerns that had been made at a meeting of an anti-bribery working group at the Paris-based Organisation for Economic Cooperation and Development (OECD) a few days earlier.." [more]

HRW Urges Probe of Alleged Torture in Saudi Jails [Apr 27]
"Human Rights Watch (HRW) urged Saudi Arabia Thursday to expand on its pledge to investigate a beating at one prison by broadening the inquiry to include all of the country's jails. Recent video footage of a guard beating detainees at Ha'ir prison south of Riyadh "corroborates accounts of beatings collected by Human Rights Watch during a visit to the prison in November," the US-based group said in a statement.. ..HRW noted that the Saudi director of prisons, Ali Al Harithi, was quoted as saying that the government had suspended two guards identified in the video as beating the prisoners and had begun an investigation into the incident.." [more]

Jeddah to Host MEETES Forum [Apr 27]
"More than 150 exhibitors are showcasing their products and services at the 12th Middle East Education and Training Exhibition and Symposium (MEETES) to be held at the Jeddah International Exhibition and Convention Center on Madinah Road from April 30 to May 3.. ..In focus will be higher education, e-learning and distance learning, and training, especially vocational education and training in the context of the ongoing Saudization program. The exhibition will feature a career and recruitment section, providing an ideal opportunity for students.." [more]

A New Regional Leadership [Apr 27]
"what should have bothered the Americans was that the ruler of an important, longstanding regional ally was so unhappy over US policy and performance in the Middle East that he took the unusual step of distancing himself publicly from Washington. Saudi Arabia always prefers to express its displeasure with the United States in private conversations and diplomatic exchanges. Only rarely in the 60 years of their alliance with America have Saudi leaders felt compelled to issue a public challenge, the last notable example occurring during the oil embargo of 1973 to 1974. What drove Abdullah to say what he did, senior aides said, was seeing the Arab world in turmoil, Arabs shedding Arab blood, and US policies contributing to the problems rather than solving them. America has failed to stabilize Iraq, failed to contain Iran's influence, failed to bring peace to the Palestinians and Israel, failed to relieve the suffering in Darfur, failed to rectify Syrian behavior, failed to protect Lebanon against Israeli attack, and failed to resolve the ensuing Lebanese power struggle.." [more]

Saudi Arabia: Lawyer Bemoans Lack of Legal Infrastructure [Apr 27]
"With the idea of setting up family courts in the Kingdom being studied, there is excitement in the legal community. “When family courts are established, that will be the best thing that could happen in the interest of women and children,” Nazieh A. Moussa, a lawyer at the Nazieh A. Moussa Law Firm, said yesterday. 'Family courts will be a boon. Women can look to them for protecting their rights, whether in matters of inheritance, divorce or exploitation, and children for protection against abuse. There is also the question of citizenship of children born to foreign women married to Saudis. Guardianship is another issue that such courts will deal with and is in the interest of both women and children,'.." [more]

~~~~~~~~ [ Apr 26 ] ~~~~~~~~~

Egypt, Saudi Arabia Edge Away From Bush as Mideast Chill Grows [Apr 26]
"President George W. Bush's top Arab allies, Egyptian President Hosni Mubarak and Saudi King Abdullah, are edging away from him, skeptical about his ability to end bloodshed in Baghdad, make progress on Palestinian statehood and contain Iran's nuclear program. Saudi Arabia, the third-biggest exporter of crude oil to the U.S., is cutting a foreign-policy path sometimes contrary to American interests, diplomats and analysts say.. ..Saudi Arabia parted with the U.S. in February by brokering a cease-fire between Palestinian Authority President Mahmoud Abbas's Fatah faction and Hamas. That deal produced a unity government that contained intra-Palestinian fighting, while making it hard for Secretary of State Condoleezza Rice to mediate. The U.S. designates Hamas as a terrorist group and won't talk to its members.." [more]

After Saudis’ First Steps, Efforts for Reform Stall [Apr 26]
"Two years ago, largely at the urging of the Bush administration, the first elections in Saudi history were held for municipal councils in a small number of cities, including Jidda, Riyadh and Mecca. Only men could vote and only half the members were elected, but still the elections were hailed as emblems of change. Increasingly, however, the councils are being dismissed as symbols of the opposite: political stagnation. 'We thought all you do is call for elections and you’re done,' lamented Abdullah al-Otaibi, an advocate of political change who gave up and moved to Dubai last year to help open a research center. 'Now we know things won’t work that easily.' There are many reasons that democratic change has been put on the back burner, including an economic boom fueled by high oil prices and a more aggressive regional foreign policy, Saudi advocates of such change say.." [more]

Japanese PM Arrives on Saturday for 2-Day Visit [Apr 26]
"Japanese Prime Minister Shinzo Abe will arrive in the Kingdom on Saturday as part of a five-nation Middle East tour that will also take him to the UAE, Kuwait, Qatar and Egypt. During the visit, Prime Minister Abe will hold intensive political consultations with senior Arab leaders on a range of regional and international issues, and seek support to forge closer economic ties with the Middle East nations. 'The Japanese premier will visit the Kingdom for two days on April 28 and 29,' said a statement issued by the Japanese Embassy yesterday.. ..During the trip, Abe’s talks with high-ranking Saudi and Arab leaders will focus on Iraq, the Israeli-Palestinian conflict and Iran. The Japanese prime minister will also speak about bilateral economic cooperation, including in the oil sector.." [more]

Princely Gesture Frees Death Row Killer [Apr 26]
"A Saudi prince has paid over Dh100,000 in blood money to secure the life of a convicted murderer, who has waited 18 years on death row.. ..Salah Mussaed al-Zahrani has already spent an unprecedented 18 years on death row waiting for the victim's son, Othman, to reach adulthood in order to decide whether to accept the blood money and spare his life.." [more]

Saudi Arabia Makes Progress by Slashing Poverty in Record Time [Apr 26]
"..In December 2002, the Saudi government established a poverty-fighting fund, following a visit made by King Abdullah Bin Abdul Aziz to some poor districts in Riyadh. Studies prepared by the ministry of social affairs and independent researchers said poverty in the kingdom has a number of reasons, like low income, early retirements and lack of social awareness among poor families. Al Qusaibi said the kingdom has attained progress in fighting poverty in a record time and even before 2015, the deadline set by the UN.." [more]

~~~~~~~~ [ Apr 25 ] ~~~~~~~~~

Porn Dominates Saudi Mobile Use [Apr 25]
"Up to 70% of files exchanged between Saudi teenagers' mobile phones contain pornography, according to a study in the ultra-conservative Muslim kingdom. The study quoted in Arab News focussed on the phones of teenagers detained by religious police for harassing girls. The same researcher also found that 88% of girls say they have been victims of harassment using Bluetooth technology. Saudi Arabia has toughened penalties for misuse of mobile phones which challenge its strict social traditions.." [more]

Saudi Arabia Scores 9 Out of 11 in Reaching UN Development Goals [Apr 25]
"..Addressing the media here, Al-Gosaibi unveiled the Kingdom's 2nd United Nations Millennium Development Goals Report. The minister said that Saudi Arabia had achieved nine of the 11 specific goals almost a decade before the deadline. The ceremony was also attended by El-Mostafa Benlamlih, UNDP resident representative. 'The Kingdom of Saudi Arabia has surpassed the percentages specified for it in the United Nations Development Goals by meeting the goals before the 2015 deadline,' Al-Gosaibi said. As for the two remaining specific goals in the areas of curbing natural waste and improving living conditions in remote areas, the minister said that even though their deadline had not arrived, efforts were under way to solve them under the national development plan.." [more]

Saudi Forum to Give Participants an Open Dialogue on Employment [Apr 25]
"Those opposing the employment of women will be given a chance to take part and present their views in the upcoming seventh national dialogue forum, said Faisal Bin Muammar, the secretary-general of the Riyadh-based King Abdul Aziz Centre for National Dialogue (KACND). The function will be under the title Work and Employment Fields: A Dialogue Between Society and Employment Institutions. All parties concerned with employment will be invited to participate in the forum, the KACND secretary -general added.." [more]

Authority to Fight Graft in Government Established [Apr 25]
"In a move to fight corruption and tighten government monitoring of the public wealth, Saudi Arabia decided to establish internal control units in every government department. The decision was taken by the Saudi cabinet during its weekly meeting, which was chaired by King Abdullah Bin Abdul Aziz on Monday. The directors of the units will report directly to the managers of their respective departments.. ..Earlier, the Saudi cabinet approved a national strategy for combating corruption and set up an authority whose responsibility is to monitor implementation of this strategy. The head of the new authority will have a ministerial rank.." [more]

Saudi Arabia to Boost Refining Capacity by 61% [Apr 25]
"Saudi Arabia's refining capacity will reach 3.4 million barrels per day (bpd) by the start of 2012, up 61.9 per cent from its level in 2006, the country's investment authority said. The increase will be achieved once three planned refineries start production, the Saudi General Investment Authority (Sagia) said in a report sent to Reuters. 'The (new) capacity will represent 17 per cent of the global rise in capacity and will be worth investments of more than $20 billion'.." [more]

Terrorism Focus of Saudi-Lanka Talks [Apr 25]
"Combating terror was the focus of talks between Foreign Minister Prince Saud Al-Faisal and his Sri Lankan counterpart Rohitha Bogollagama yesterday. 'The Saudi foreign minister showed understanding and expressed his concern over the terrorist activities in my country,' the visiting Sri Lankan minister told Arab News following his talks with Prince Saud.. ..The two ministers agreed to fast track agreements on combating terrorism, extradition, prisoner exchanges, air traffic and eliminating double taxation.." [more]

Saudi Housing Sector to Draw SR1.2 Trillion [Apr 25]
"The Saudi housing sector is expected to attract investments worth SR1.2 trillion, according to a top official of the Eastern Province Chamber of Commerce and Industry (EPCCI) yesterday. In a function hosted by the EPCCI during the Saudi-British Week organized by the British Trade, Saud ibn Abdul Aziz Al-Gosaibi, second deputy chairman of the EPCCI, said Eastern Province has plenty of investment opportunities in water desalination, real estate and tourism. Gosaibi also underscored the strategic 
location of the Eastern Province as a major factor to attract investments.."
http://www.arabnews.com/?page=6&section=0&article=95438&d=25&m=4&y=2007

~~~~~~~~ [ Apr 24 ] ~~~~~~~~~

Arab Plan Basic Peace Framework [Apr 24]
"Saudi Arabia yesterday emphasized that the Arab peace initiative, which was relaunched by the Riyadh summit last month, would remain “the basic framework” for Arab overtures to establish peace in the Middle East. The Council of Ministers, chaired by Custodian of the Two Holy Mosques King Abdullah, made this comment while reviewing the outcome of last week’s Arab peace initiative committee meeting of foreign ministers in Cairo. The Cairo meeting selected Egypt and Jordan to take the lead in approaching Israel to promote the peace plan.. ..It envisages Arab recognition of Israel in return for an Israeli withdrawal to pre-1967 borders, the establishment of a Palestinian state with Jerusalem as its capital and the return of Palestinian refugees.." [more]

Saudi Arabia, Kuwait, Qatar Refuse Visa for Bangladesh's Former Leader [Apr 24]
"Saudi Arabia, Kuwait and Qatar have refused to allow Bangladesh's former Prime Minister Khaleda Zia into their countries, complicating a plan by Bangladesh's government to exile her, news reports said Tuesday. The New Age and the News Today newspapers reported that the Saudi embassy in Dhaka has refused to grant her a visa because the embassy was not convinced that Zia was leaving the country of her own volition.. ..The New Age daily said the Saudi embassy wants Zia to be present in person to confirm that she plans to enter the kingdom willingly.." [more]

Saudi Stocks are Down 9.6 Percent on the Year [Apr 24]
"The Saudi Stock Exchange's TASI index slumped more than 100 points yesterday to give the bourse the unenviable title of the region's worst performing market this year to date. At the turn of the year most regional analysts were promoting Saudi as the growth market for 2007 with predictions that after a sticky start it would begin to power ahead after February and add 25 per cent to its value by the year end. But the brief post-February revival appears to have run out of steam as investors now have grave doubts about its short-term direction.. ..A total of 77 Saudi stocks were losers yesterday, with only four advancing, as every sector in the index was in retreat.." [more]

More Saudi Women Join the Workforce, But Limits Remain Strict [Apr 24]
"..Just as in the West, Saudi women are graduating from universities at higher rates than men. And they are demanding opportunities that the ulema – the Islamic scholars who hold vast sway in the Kingdom – have long denied them. They are taking jobs in education, medicine, and banking. Lately, the country's labor minister has been pushing for legal changes that would allow more women to work in retail jobs and factories – a sharp challenge to Saudi Arabia's sex segregation.. ..While most women here say they hope there are fewer obstacles to the success of their daughters, there is no consensus 
on how far social change should be allowed to go. ." [more]

Canada Now Prime Destination for Saudi Students [Apr 24]
"With 15 Canadian universities and educational networks participating in the ongoing International Education & Training Exhibition at the Dhahran International Exhibition Center, Canada is emerging as a new destination for Saudi students. The number of Saudi students pursuing education in Canada is increasing every year, making Canada among the top countries providing education and training for young Saudis, according to Simone Juker, regional education officer of the Canadian Embassy in Abu Dhabi. "Last year there were over 2,000 Saudis studying in Canada, and this year we expect this number to increase," she said. Juker said this number excluded about 500 Saudi students who took up medical training programs at various Canadian medical institutions.." [more]

S&P Launches Shariah-Compliant Indices For The GCC [Apr 24]
"Standard &Poor's, the world's leading index provider, today announced the launch of a fully investable GCC Shariah Index for Muslim investors in the Gulf and around the world. The S&P GCC Shariah Series, which have been designed to capture the largest and most liquid stocks across the GCC, will pave the way for the creation of mutual funds, ETF's and structured products that will enhance liquidity and improve risk management across the Gulf's highly concentrated equity markets.. ..The new indices.. ..include only those stocks which comply with Shariah-law.." [more]

~~~~~~~~ [ Apr 23 ] ~~~~~~~~~

A New List of Terrorists on Way — Naif [Apr 23]
" Interior Minister Prince Naif said here yesterday that there is a possibility that his ministry will announce a new list of most wanted terror suspects in the Kingdom. 'There is a possibility of a new list being announced, without a definite time of the announcement'.. ..Saudi Arabia has won international acclaim for its successful handling of militants blamed for a series of terrorist attacks across the country over the past three years. Custodian of the Two Holy Mosques King Abdullah has reiterated that the government would continue its efforts to exterminate militants and terrorists from the country, no matter how long its takes or how much it costs.." [more]

Private Sector’s Role in Kingdom’s Mega Projects Close to 70% [Apr 23]
"Private sector role in mega economic, industrial and infrastructure projects across the Kingdom is expanding year after year, lessening the burden on the government, a recent report issued by the Council of Saudi Chambers of Commerce and Industry (CSCCI) said. According to the report, the sector’s investment in large-scale projects, including economic cities, has reached nearly 70 percent. The report also said that the government participation in mega projects, on the contrary, has reduced to 30.3 percent, adding that its investment came from budgetary allocations.." [more]

Sabic Affiliate Signs $400m Murabaha Facility [Apr 23]
"Sabic affiliate National Industrial Gases Company (GAS) yesterday signed a new 1.5 billion Saudi riyal ($400 million) Murabaha loan facility with a club of eight local and Gulf banks to help finance the expansion projects it has underway.The loan agreement was signed by Ebrahim Al Shuweir, Chairman of GAS, and Sabic's Vice-President, Corporate Control and Banque Saudi Fransi, Riyad Bank, National Commercial Bank, Samba Financial Group, Arab Petroleum Investments Corp (Apicorp), Saudi Hollandi Bank, Arab National Bank and Gulf International Bank B.S.C.." [more]

GCC, ASEAN Set Out Vision of Cooperation [Apr 23]
"Two regional blocs, the six-nation Gulf Cooperation Council (GCC) and the 10-member Association of Southeast Asian Nations (ASEAN), have set out a broad vision of cooperation following talks between GCC Secretary-General Abdulrahman Al-Attiya and ASEAN Secretary-General Ong Keng Yong yesterday. The talks focused on a regional and international issues and on ways to forge closer cooperation. Yong said that the two organizations share similar views on a host of regional and international issues.. ..A proposal to initiate dialogue between the two blocs was endorsed by the GCC foreign ministers and their ASEAN counterparts, who held their annual meeting on the fringes of 61st session of the United Nations General Assembly in New York late last year.." [more]

Conjoined Twins Have Successful Surgery [Apr 23]
"A surgery to separate the conjoined Cameroonian Siamese twins Pheinbom and Shevoboh has been completed successfully at the Riyadh-based King Abdul Aziz Medical City of the Saudi Arabian National Guard on Saturday. The separated twins have been transferred to Paediatric Intensive Care Unit (Picu), said the medical team who conducted the operation. The operation was conduced by Dr Abdullah Al Rabee'ah, a Saudi paediatric surgeon and an expert in Siamese operations.." [more]

I~~~~~~~~ [ Apr 22 ] ~~~~~~~~~

Italy's Prodi Addresses Saudi Advisory Council [Apr 22]
"Italian Prime Minister Romano Prodi called on Sunday for cooperation to promote economic development and religious tolerance in an address to Saudi Arabia's appointed Shura (consultative) Council. Italy and Saudi Arabia must confront challenges posed by the long-standing Arab-Israeli conflict, sectarian disputes and misunderstandings between the Islamic and Western worlds, Prodi told the all-male 150-member council, according to the official SPA news agency. 'These matters require doubling efforts to establish dialogue as a way of promoting economic and social development... and make the principles of dialogue and tolerance prevail'.." [more]

$266m Saudi Telco in the Pipeline [Apr 22]
"Bahrain Telecommunications Co. (Batelco) said on Sunday a consortium it is leading would set up a 1 billion riyal ($266 million) company to run a fixed-line telephone operation in Saudi Arabia. The consortium, in which Batelco holds 15 percent, was one of three that won initial approval on Saturday to operate Saudi Arabia's new fixed-line phone network, set to end the monopoly of Saudi Telecom Co. Pending approval from the Saudi government, the new telecom firm would sell a 25 percent stake in an initial public offering.." [more]

Riyadh to Host Asian Oil Producers Conference [Apr 22]
"Riyadh will host the second Asian Ministerial Energy Roundtable meeting for oil producers and consumers next month, SPA reported. The one-day meeting will discuss energy development in Asia, including the prospects for oil and gas trade in the area. The roundtable will also discuss issues related to oil exploration and development, including energy security and the role of keeping energy reserves. The meeting will be attended by energy ministers from most of the GCC, as well as China, India, Japan, South Korea, Thailand, Malaysia, Pakistan, Indonesia, the Philippines and Brunei, and representatives from OPEC and the International Energy Agency.." [more]

GM Announces Record Sales [Apr 22]
"General Motors has continued its record sales growth in the Kingdom of Saudi Arabia to register first-quarter sales of 18,857 units, up 20 percent over Q1 2006, the company reported. Chevrolet sales in the Kingdom stood at 13,222 units, with GMC at 5,134 followed by Cadillac and HUMMER at 501 units. Across the region, GM sold 30,679 units, an increase of 16 percent over Q1 2006. March 2007 was the company's 41st consecutive month of record sales. This growth was fueled by a series of launches last year.." [more]

Apr 15-Apr 21, 2007

~~~~~~~~ [ Apr 21 ] ~~~~~~~~~

Saudi Banks ‘Remain Sound’ Despite Poor Q1 Profits, Says S&P [Apr 21]
"The credit-rating agency Standard & Poor’s announced yesterday that the decline in first-quarter profits of Saudi banks would not affect the firm’s high credit ratings for the sector. 'The basics of Saudi banks remain sound,' the agency’s rating analysts said. They expressed surprise at the negative response of small-scale shareholders at Saudi bourse toward first-quarter bank results. Standard & Poor’s said it was expecting a decline in bank profits.." [more]

Public Attacks on Saudi Religious Police Increase [Apr 21]
"Saudi Arabia, one of the world’s most conservative societies, has seen an increase in attacks by members of the public against its religious police, a newspaper reported on Saturday. Al-Watan daily recorded 21 violent incidents during 2006 where Saudis had physically attacked some of the 5,000 members of the police officially known as the Organisation for the Promotion of Morals and Prevention of Vice. It did not give a figure for previous years.." [more]

Growing Violence in Schools a Cause for Concern, Says Study [Apr 21]
"Violence in schools is a growing problem across the Kingdom and news about pupils attacking teachers feature prominently in the local media.. ..A recent study conducted by two students under the supervision of Khadija Kaj Itani, an assistant professor at Effat College, showed that aggressive behavior is present at both intermediate and secondary schools, regardless of whether the schools are government-run, private or international. The survey also showed that international schools tend to be the most violent, followed by government schools and then private schools. Victims include fellow 
pupils, schoolteachers, administration personnel, security guards and tea boys.." [more]

Saudi Arabia: Docufilm to Depict King Abdulaziz's Journey to Riyadh [Apr 21]
"The Secretary General of the King Abdulaziz Foundation, Dr. Fahd bin Abdullah al Samari has stated that an unnamed private company would document King Abdulaziz's journey from Kuwait until the conquest of Riyadh through a docufilm that combines the past and the present. Al Samari pointed out that the journey on camel-back would set off from Kuwait and would pass through the same sites that King Abdulaziz once passed.. ..Al Samari also confirmed that the Foundation prepared for a huge project to document the oil story in Saudi Arabia, indicating that the foundation had agreed with 
Saudi Aramco on the project but that it was stopped by the company.." [more]

Saudi Stock Market Falls Further [Apr 21]
"Arab stock markets showed mixed performance last week, reflecting investors’ different responses to first-quarter earnings and political developments, financial analysts said yesterday. The Saudi stock market fell further last week. The Tadawul All Share Index (TASI) declined 3.89 percent to close at 7,486.85 points, down from 7,789.76 points previous week. The TASI plummeted further on Saturday when it lost 5.65 percent and closed at 7,349.69 points.." [more]

~~~~~~~~ [ Apr 20 ] ~~~~~~~~~

Israel: Saudi Plan Not Enough [Apr 20]
"Israel ‘s foreign minister cautiously welcomed an Arab League peace plan on Thursday but said it was no substitute for direct negotiations between Israel and the Palestinians. The Saudi plan — introduced in 2002 and revived during last month‘s Arab summit in Riyadh — envisages full Arab recognition of Israel in return for an Israeli withdrawal from territories captured in the 1967 Middle East War. It also calls for Palestinian statehood. 'The Palestinian issue should and will move forward on the bilateral track," Foreign Minister Tzipi Livni told visiting U.S. Defense Secretary Robert Gates, according to a Foreign Ministry statement. "The Arab League can support the process by showing flexibility that will make it easier for the Palestinians'.." [more]

Gates Says U.S. Will Sell Advanced Bombs To Saudi Arabia [Apr 20]
"Visiting U.S. Secretary of Defense Robert Gates on Thursday told his Israeli hosts that the Bush administration will go forward with the sale of smart bombs to Saudi Arabia, despite Jerusalem's protests. Israel fears Saudi's possession of the weapons will erode its qualitative military edge in the region, and has argued that if the current regime in Riyadh is overthrown - not an uncommon occurrence in the Middle East - the highly-accurate Joint Direct Attack Munition (JDAM) bombs could reach the hands of extremists.." [more]

Abdullah and Prodi to Start Bilateral Talks [Apr 20]
"Saudi Arabia and Italy will review the situation in the region as well as economic issues of joint interest during the talks due to be held tomorrow between King Abdullah Bin Abdul Aziz and Italian President Romano Prodi.. ..Italian ambassador to Saudi Arabia Eugenio d'Auria said the visit aims at boosting the Saudi-Italian relations and reviewing the situation in the region following the Arab Summit held in Riyadh last month.." [more]

Opec Set to Trim April Oil Output [Apr 20]
"Opec, excluding Iraq and Angola, is set to trim oil output in April due to lower sales from Iran, which sold more than previously thought in March, a consultant said yesterday. Opec’s 10 members subject to output limits are expected to pump 26.9mn barrels per day, down from an upwardly revised 27.05mn bpd in March, said Conrad Gerber of  Petrologistics, which tracks tanker shipments. The estimate indicates Opec’s adherence to agreed supply curbs began to wane in March as global oil prices rallied.. ..Despite the expected supply drop in April, the estimate indicates output is still higher than Opec’s target of 25.8mn bpd for the 10 countries that took effect on February 1.." [more]

National Dialogue Chief Says No Boundaries in Forums [Apr 20]
"King Abdul Aziz Center for National Dialogue Secretary-General Faisal Bin Muammar said there are “no boundaries” in the discussions raised in the national forums, adding the amount of freedom granted to participants who represent different sectors and social segments of the Saudi community has been 'unprecedented'.. ..In an interview with Arab News, Muammar said that in addition to the unlimited amount of freedom in discussions, for the past several years discussions have been aired live on Saudi Arabian Television for viewers in the nation to watch.." [more]

Sustaining Oil Supply Entails Fair Pricing [Apr 20]
"The message came from the top and was crystal clear. It’s a two-way traffic. Let us be assured of “fair pricing” and we would ensure enough crude. When Custodian of the Two Holy Mosques King Abdullah rose to make his annual address before Saudi Shoura last Saturday, energy markets eagerly awaited what the King had to say. His words carried immense weight and ramifications for the industry and in fact the entire global economy. And keeping with his reputation, the King did not mince words. The mathematics was pure and simple! Riyadh, the global gas station, was ready and capable of standing up to the challenge of meeting the galloping energy requirements of the world and keeping the growing global economies well oiled.." [more]

~~~~~~~~ [ Apr 19 ] ~~~~~~~~~

Saudis Arrest 8 in Frenchmen's Deaths [Apr 19]
"Saudi security officials have arrested eight Saudi men suspected of involvement in the February killing of four French nationals, an Interior Ministry statement said Wednesday. The French, three men and one teenage boy, lived in Saudi Arabia and were reported to have lost their way while on a road leading to the holy city of Medina on the day of the shooting. 'The eight suspects were proven to be directly involved with the killers and to have cooperated with them,' the Saudi statement said. They were arrested in Medina, it added, but did not give the date of the arrests.. ..Since the Frenchmen's murders, police have said they have arrested several suspects linked to the case. It was unclear how many suspects in all are now in detention.." [more]

Saudi Telecom Q1 Earnings Drop 20.5%  [Apr 19]
"A senior official at Saudi Telecom (STC), the largest Arab telecommunications company by market value, announced that the company's net profit fell 20.5 percent to $725.6 million in the first quarter of 2007, compared to $912 million a year earlier.. ..the company's operating revenues fell 2.3 percent to $2.22 billion in the first three months of 2007. It is worth noting that Saudi Telecom lost its monopoly on mobile phone services in Saudi Arabia when Etihad Etisalat (Mobily) started operations in 2005.." [more]

LPGA, Saudi Group Are Building Bridges [Apr 19]
"Representatives of the Ladies Professional Golf Association and the Friends of Saudi Arabia came together Tuesday at the Ginn Reunion Resort in a sign of solidarity to discuss cultural relationships through sports diplomacy. On the heels of last week's LPGA tournament at the resort, the forum featured experts in the worlds of women's golf and Saudi-American culture. The event was the second discussion forum presented by Friends of Saudi Arabia, a good-will organization formed after the Sept. 11, 2001, terrorist attacks to improve communication between Americans and Saudis.." [more]

Gates Tries to Ease Israeli Concerns Over Planned Saudi Arms Deal [Apr 19]
"..Gates also said his 24-hour trip to Israel did not include any discussions on taking military action against Iran. He reiterated his belief that diplomacy is the best course of action for halting Iran’s nuclear program. Israeli officials have objected to U.S. plans to sell arms to Saudi Arabia and other moderate Gulf states, fearing it would damage Israel’s deterrent capabilities in the Middle East.. ..Speaking to reporters in Tel Aviv before his departure, Gates said he had urged Israeli leaders to look at the deal in terms of the "overall strategic environment" and stressed that Israel’s neighbors have other alternatives for purchasing arms.." [more]

Sunni-Shiite Relations in Saudi Arabia Improve [Apr 19]
"At a time when relations between Sunnis and Shiites are becoming more complicated in neighbouring Iraq, the relationship between the two sects is improving in Saudi Arabia. As an indications of this improvement, Shaikh Hassan Al Saffar, a senior Saudi Shiite leader, made a visit to Onaiza in the Qasim region, considered a stronghold of fundamentalist Sunnis in Saudi Arabia.. ..He said the visit reflects the awareness of the people to the political situation in the region, adding that the domestic conflicts and lack of harmony among people in countries like Iraq and Lebanon made these countries live in turmoil.." [more]

KSA Seeks $32b to Develop Riyadh [Apr 19]
"Saudi Arabia will launch 120 billion riyals ($32 billion) of development projects in the area around the capital city, Riyadh, Saudi King Abdullah said.. ..The plan, which will involve both public and private investment, includes 1,800 projects in areas including health, education, water and electricity in the Riyadh region, Asharq al-Awsat daily reported. Saudi Arabia is spending an oil windfall on development projects.." [more]

Saudi Experts Will Operate on Year-Old Siamese Twins [Apr 19]
"Surgery to separate 13-month-old Cameroonian Siamese twins will be performed at the Riyadh-based King Abdul Aziz Medical City of the Saudi Arabian National Guard on Saturday. Preliminary tests for the 18-hour operation have been completed, said Dr Abdullah Al Rabee'ah, a Saudi pediatric surgeon and an expert in Siamese operations.. ..The surgeon noted that the babies, both females, have completed 13 months and were in Saudi Arabia for the operation at the expense of King Abdullah Bin Abdul Aziz. So far 12 Siamese babies of various nationalities have been successfully separated in Saudi Arabia.." [more]

~~~~~~~~ [ Apr 18 ] ~~~~~~~~~

Arab League to Name Israel Contact Group [Apr 18]
"Arab foreign ministers met at the Arab League on Wednesday to name the countries that will make contact with Israel to explain an Arab peace plan offering normal relations in return for land seized in 1967. The Arab League committee of 13 countries will set up three or four working groups to tour the world and promote the peace plan, which Arab governments tried to relaunch at a summit meeting in the Saudi capital Riyadh last month, diplomats said. In Jerusalem Israeli Prime Minister Ehud Olmert said that in addition to talks through the Arab League working group the United States may organise a regional summit which could include delegates from Saudi Arabia.." [more]

Gates, Abdallah Hold Wide-Ranging Talks [Apr 18]
"US Secretary of Defense Robert Gates yesterday held wide-ranging talks, with a particular emphasis on Middle East issues, in Amman with Jordan’s King Abdallah, who urged US “support” for the so-called Arab Peace Initiative that was relaunched by the Arab summit conference in Riyadh at the end of March, an official statement said. 'The king underscored the importance of extending support to the Arab plan which reflects the Arabs’ real desire in achieving peace with the Israelis and ending decades of the Arab-Israeli conflict,'.." [more]

Saudi FM in Sudan for Talks on Darfur [Apr 18]
" Saudi Arabian Foreign Minister Saud al-Faisal arrived in Khartoum Tuesday, a day after Sudan accepted the second phase of a UN plan to bolster the African Union force in the troubled Darfur region. Saud is due to meet Sudanese President Omar al-Beshir later Tuesday, an official told AFP.. ..Saudi’s King Abdullah had taken the initiative during an Arab summit in Riyadh in March, to bring together Beshir, UN chief Ban Ki-moon and Alpha Oumar Konare, chairman of the African Commission, to examine ways to achieve peace in Darfur. At least 200,000 people have been killed in Darfur and more than two million driven from their homes, according to the United Nations.." [more]

Saudi Writes Off $15bn Iraq Debt [Apr 18]
"Saudi Arabia has decided to write off 80% of the more than $15 billion it is owed by Iraq, the Washington Post reported on Wednesday. As part of its plan to help Iraq rebuild, the Bush administration has been pressing Iraq's creditors to follow Washington's lead and write off debt it is owed by Baghdad. A senior Saudi official, who was not named, told the Post that his country would write off 80% of Iraq's debt. The official estimated Iraq's debt to his country at $15 billion to $18 billion.. ..So far, 52 countries have cancelled 80% to 100% of Iraq's debt.." [more]

45% of Saudi Children Suffer Physical and Psychological Abuse [Apr 18]
"About 45 per cent of Saudi children suffer from some kind of abuse, according to a recent official study.. ..The study, conducted by the Anti-crime Centre at the Saudi Ministry of Interior, noted that primary school children are the ones mostly subject to psychological abuse, followed by those in secondary schools and then intermediate school students.. ..The study said that orphans were most likely to be abused, adding that 70 per cent of orphans in Saudi Arabia have faced at least one kind of abuse. As many as 58 per cent of children of divorced couples are also victims of abuse.." [more]

KSA Leverages the Power of Technology [Apr 18]
"Saudi Arabia’s changing economy is dragging its enterprises into a new competitive environment; GITEX Times’ Eliot Beer looks at how enterprises within KSA are leveraging the power of IT to make the most of the business opportunities within the Kingdom.. ..The Saudi Arabian government has made great strides in modernising key aspects of the country’s economy, with a view to encouraging competition - and also to protect its citizens from some of the new threats that come with the new economy.." [more]

~~~~~~~~ [ Apr 17 ] ~~~~~~~~~

Anti-Terror Protocol Endorsed [Apr 17]
"The Council of Ministers yesterday emphasized the government’s resolve to fight corruption, extend hands of friendship to all countries and promote peace and tolerance.. ..The Cabinet endorsed the protocol for security cooperation between governments of countries neighboring Iraq in order to combat terror, intrusion and organized crime. Under the accord, Iraq’s neighbors will not allow their territories to be used as platforms for planning, organizing and executing terrorist operations or for instigating or promoting such crimes. All signatories will enact regulations, set up monitoring systems and tighten security on their borders as well as at land, air and sea entry points to prevent intrusion and smuggling.." [more]

Bangladeshi Former PM Agrees to Go in Exile in Saudi Arabia [Apr 17]
"Bangladesh's immediate past Prime Minister Khaleda Zia, who handed power to an interim administration in last October, has finally agreed to go in exile to Saudi Arabia under tremendous pressure from the caretaker government and on condition that her two sons will also be allowed to join her.. ..After failing to persuade Khaleda Zia to go in exile, the top officials of joint forces arrested her second son Arafat Rahman on Monday, compelling her to yield to the pressures, the daily said.. ..Khaleda's elder son Tarique Rahman, who exercised maximum power from behind the scene and allegedly did widespread corruption and kept money in foreign countries, was arrested on March 8 on charges of corruption.." [more]

Education System Undergoing Major Overhaul [Apr 17]
"Saudi Arabia has begun a major overhaul of its education system, pumping SR11.8 billion ($3.1 billion) into the project, to ensure overall development of its students by increasing their knowledge as well as their physical, professional, psychological and intellectual capabilities. The King Abdullah Project for the Development of Public Education, which was approved by the Cabinet in February, has allocated SR4.2 billion to improve the educational environment and SR3.58 billion for extra-curricular activities.. ..Education Minister Abdullah Al-Obaid said it would help the Kingdom keep pace with scientific and technological development and meet the requirements of the Education Document presented by the king to the GCC summit as well as the 8th Five-Year Development Plan.." [more]

Saudi Arabia Launches Six New Satellites [Apr 17]
"Saudi Arabia has successfully launched six satellites into orbit according to the Saudi Press agency. The satellites were launched as a part of a program sponsored by the king Abdulaziz City for Sciences and Technology (kacst). Dr Turki bin Saud bin Mohammed al-Saud, the Vice-President of kacst for the research institutes, said the launching of the satellites constitutes an important development and that a Saudi team working at the space research institute at kacst had undertaken the preparation and testing of the satellites and all requited work in this respect. Prince Turki said Saudi Arabia currently has 12 satellites in space and that the latest six were launched using a Russian Ukraine missile from Bikaner base in Kazakhstan.." [more]

Fariz Opens Jordanian-Saudi Economic Forum [Apr 17]
"Deputising for His Majesty King Abdullah, Deputy Prime Minister and Minister of Finance Ziad Fariz on Monday opened the two-day Jordanian Saudi Economic Forum, seeking to boost economic cooperation. During the forum, which hosted over 50 Saudi businessmen as well as several Jordanian businessmen and economists, Fariz said the Saudi market accounts for 21 per cent of the foreign trade volume. Fariz indicated that imports from Saudi Arabia stand at around 26 per cent of the country's total imports while exports to the Saudi markets stand at 9 per cent of the Jordanian exports volume.." [more]

Saudi Women Brave Stares to Carve a Niche [Apr 17]
"In a conservative society like the one in Saudi Arabia it is not usual to find women working as security guards. Despite the recent moves adopted by the Saudi government to provide job opportunities for the increasing number of educated females, a Saudi woman is barred by society perceptions from entering into many jobs.. ..the number of unemployed females is 176,113 or 36 per cent of the total female labour force.. ..A large number of Saudi women are applying for jobs in the security sector, said Khalid Al Mishaan, the director-general of Al Saher Company for security guards. He said his company hires women to work as security guards in the company's different projects in hospitals, women's colleges and banks.." [more]

~~~~~~~~ [ Apr 16 ] ~~~~~~~~~

Saudi Students to Attend International Science Fair in the US  [Apr 16]
"Twelve Saudi high school students have been selected to participate in the International Science and Engineering Fair next month in Albuquerque, New Mexico, Saudi Aramco reported on its website last week. The Saudi delegation will consist of six boys and six girls from across the Kingdom. They were selected on the basis of their achievements at the first Saudi Science Fair, held March 16 in Al-Khobar. Saudi Aramco is coordinating the Kingdom’s participation in the international science fair. Several private companies are sponsoring the trip.." [more]

Saudi Arabia Reports Sudan-UN Pact [Apr 16]
"Sudan has allegedly signed an agreement, brokered earlier in Saudi Arabia, on the deployment of African Union (AU) and UN forces in Darfur, according to Saudi Arabia's official press agency. Monday's report by the Saudi Press Agency (SPA) comes as John Negroponte, the US deputy secretary of state, condemned the Sudan government over Darfur. King Abdullah, the Saudi monarch, "received a telephone call from Sudanese president Omar al-Bashir in which he informed him that the Sudanese government has signed an agreement with the UN and the AU that determines the duties and role of the African and UN forces in the Darfur region", SPA said.." [more]

Olmert Ready for Talks With Arab States [Apr 16]
"Israeli Prime Minister Ehud Olmert and Palestinian President Mahmoud Abbas launched a US-initiated series of meetings yesterday, bypassing some of the most contentious issues of the Middle East conflict. But in an apparent nod towards an alternative track involving the Arab League and a 2002 Saudi-initiated peace plan, Olmert told his cabinet he was "willing to hold a dialogue with any grouping of Arab states about their ideas". Neither Olmert nor Abbas appears to be in a position to make bold moves towards a final peace deal.." [more]

Jordan, Saudi Economic Forum Opens Monday [Apr 16]
"The Jordanian-Saudi Economic Forum, which is organized by the Chambers of Industry and Trade in Jordan and the Saudi Trade and Industry Chambers Council, opens in Amman Monday. During the event, the Jordanian-Saudi Project Development Company, which was established through an initiative by the Joint Business Council, will be launched. The company has JD500 million investment funds active in various fields.." [more]

FDI in Saudi Arabia to Surge by 2010 [Apr 16]
"Saudi Arabia is expected to see a big foreign direct investment (FDI) surge by 2010, driven by the opening up of key sectors to outside investment, such as telecommunications, power, mining, petrochemicals, infrastructure and the economic cities, a GCC special report by World Business said.. ..“As more overseas money flows into the region and the benefits of economic integration are felt, the key question will be whether the GCC boom can be sustained without being fuelled by oil and gas alone.." [more]

Saudi Arabia to Host Real Estate Conference in May [Apr 16]
"The Chairman of the National Real Estate Committee at the Saudi Council of Chambers of Commerce and Industry (SCCI) announced that Saudi Arabia will host a two day event, the Saudi International Real Estate Conference in Riyadh next month, Arab News reported. He pointed out that the real estate sector has become the Kingdom's second largest economic sector after oil, with an estimated volume of between $213 billion and 320 billion and ongoing projects worth more than $53 billion. He added that the sector is expected to further expand in the next few years.." [more]

Terrorists Likely Killed Officer [Apr 16]
"A high-ranking police officer, whose decapitated body was found buried on Saturday afternoon at his rest house in Al-Qusaiah, was identified as Col. Nasser Al-Othmani from Al-Qasim police, sources said. The officer’s head was found severed from the rest of his body. Terror analysts say the murder resembles that of Lt. Col. Mubarak Al-Sawat, who was killed by terrorists in June 2005. It is thought that Al-Othmani has been targeted in similar circumstances. However, Interior Ministry officials have not yet confirmed the dead officer’s identity. Interior Ministry spokesman Gen. Mansour Al-Turki told Arab News that investigations were still continuing to ascertain a motive and the people behind the 
crime.." [more]

Prince’s Words Spread Hope Across Kingdom [Apr 16]
"“The segregation of men and women is not correct,” Interior Minister Prince Naif said recently as he urged Saudis to abandon the practice. His words of wisdom may open the doors to a new era of equality and economic prosperity for the Kingdom. Reformers are hailing his announcement and express optimism that his words effectively repudiate segregation and discrimination throughout our society as well as our economy.. ..It is worth noting Prince Naif made his remarks in Riyadh, which has been a bastion of resistance to the notion of integration.." [more]

~~~~~~~~ [ Apr 15 ] ~~~~~~~~~

Iran Crisis Need to be Contained [Apr 15]
"Iran's nuclear programme has added one more crisis to the region that needs to be contained, along with the sectarian conflicts in Iraq and Lebanon, King Abdullah said yesterday. In his annual address to the unelected Consultative Council, the king pledged to continue the fight against terrorism until the militants either "come to their senses or are uprooted from Saudi society." Without naming Iran, Abdullah said Saudi diplomacy had been careful to deal with the "nuclear issue in a peaceful, rational and objective manner that seeks to avoid tense rhetoric and aims at guaranteeing that the Gulf and the Middle East are free of weapons of mass destruction.." [more]

Study Shows 12% of Saudi Workforce Jobless [Apr 15]
"A recent study has revealed that 470,000 Saudis, or 12 per cent of the Kingdom's workforce, are without jobs. The unemployment rate in the Kingdom has been continuously increasing, although there have been conflicting reports, including a 2003 study that estimated jobless Saudis to represent 30 per cent of the population.. ..In a related development, the undersecretary of the Ministry of Labour, Dr Abdul Wahed Al Humaid, reaffirmed that six million job opportunities were available for Saudis. He indicated that a new employment programme would be launched late this month through joint efforts between the ministry and the human development fund.." [more]

Controversy Over Women Issues [Apr 15]
"Nothing provokes controversy in Saudi Arabia more than issues related to women. Historical arguments relating to women’s education, work, driving and international scholarships continue. These things are expected to happen in a conservative society. However, the Kingdom has transformed itself into a village as a result of the information revolution, and the development and modernization of communication means. The issue of women’s sports is something that has recently been discussed in the Kingdom. A news item stated that Prince Muhammad ibn Fahd University had to cancel a women’s football tournament that it had organized for students.. ..The event was cancelled — according to Alarabiya.net — after a group from the Ministry for Islamic Affairs, Endowment, Call and Guidance visited the university.." [more]

Apr 8-Apr 14, 2007

~~~~~~~~~ [ Apr 14 ] ~~~~~~~~~

China, Saudi Arabia Pledge to Help Cut Global Imbalances [Apr 14]
"China and Saudi Arabia pledged Saturday to help ease global trade and financial imbalances that include the huge Chinese trade surplus with the United States. The two countries agreed with the US, Japan and the 13 European nations using the euro that all had 'a shared responsibility' to reduce the imbalances without triggering a global economic crisis. Sustained imbalances could lead to protectionism, they warned.. ..Saudi Arabia was included in the pledge because of its critical role as the world's largest oil exporter.." [more]

Saudi King Says He Wants to Boost Kingdom's Oil Production [Apr 14]
"Saudi Arabia wants to increase its oil production so it can meet domestic and international demand while ensuring "fair" world prices, King Abdullah said. Now pumping just over 11 million barrels a day, the kingdom is the world's largest oil producer and the biggest supplier of petroleum to the United States. The king did not say Saturday how much Saudi Arabia might increase production, but it has repeatedly said it was prepared to do so. Last May, Oil Minister Ali al-Naimi spoke of raising output to 12.5 million barrels a day by 2009.." [more]

Falling Bank Profits Pull Saudi Stocks Down [Apr 14]
"The Saudi stock market performed strongly at the start of last week in the wake of a prolonged drop that lasted three weeks, but retreated most of the week apparently under the pressure of shrinking profits of leading banks in the first quarter of the year. The Tadawul All-Share Index (TASI) crashed the psychological level of 8,000 points upward on Saturday but closed week at 7,789.76 points — about 1.61 percent lower than previous week’s close at 7,666.62 points. TASI is currently 1.8 percent lower than what it was at the year’s start.." [more]

~~~~~~~~~ [ Apr 13 ] ~~~~~~~~~

A New Saudi Approach [Apr 13]
"..Throughout the 1990s, Riyadh played the role of stabiliser in the Arab world through the Syrian-Egyptian-Saudi tripartite axis. The axis slowed down the haste of some Arab countries towards normalising relations with Israel.. ..In the summer of last year, this quiet, noiseless diplomacy had to change. The Saudis started to play a more aggressive role in the region, expressing their displeasure clearly and loudly with the unfolding events in Iraq, Lebanon and other parts of the Middle East.." [more]

Gates To Visit Israel Over Saudi Arms Deal [Apr 13]
"U.S. Secretary of Defense Robert Gates will visit Israel next week in an effort to gain support for the sale of advanced American-made weapons to Saudi Arabia, a nation still technically at war with the Jewish state. During the two day stop, which will be the first visit by a U.S. defense secretary in over eight years, Gates will meet with Prime Minister Ehud Olmert, Defense Minister Amir Peretz and Foreign Minister Tzipi Livni. The sides will reportedly discuss U.S. military aid to Israel and regional threats to both nations, though the talks are expected to center on a recently frozen U.S.-Saudi arms deal.. ..But the U.S. defense establishment is said to be determined to push through the sale in an 
effort to offset the growing regional influence of Iran, and is looking for a compromise that will satisfy America's allies in Israel.." [more]

Saudi Arabia and Russia Sign $100 Million Oil Pipeline Deal [Apr 13]
"Saudi Arabia and Russia have signed a $100 million deal for laying an oil pipeline in the world's biggest sand desert, Rub Al Khali (Empty Quarter).. ..The project will be fully implemented by the Russian partner, but workers from other countries would also be employed. Work on the proposed Sheyba-Abkayk oil pipeline, whose length exceeds 200 km (124 miles), will start in June and is scheduled to be completed in 18 months. It is the first ever contract by a Russian company and will be a breakthrough for Russian business in a totally new market, which would provide access to other markets in the Middle East." [more]

Saudi Arabia Gets Dh198m as Gulf War Damages [Apr 13]
"Saudi Arabia has received $54 million (about Dh198 million) from the United Nations in compensation for environmental damages it incurred as a result of the second Gulf War. Speaking at a press conference yesterday, Prince Turki Bin Nasser Bin Abdul Aziz, chairman of the Presidency of Metrology and Environment Protection (PMAP), said the amount was used to save seacoasts and in other environment programmes.. ..Prince Turki urged all companies and factories to preserve the environment. He stressed that the Saudi law penalised those who cause damage to the environment.." [more]

Standard & Poor's Launches Gulf Indices [Apr 13]
"Standard & Poor's has developed indices to track Gulf Arab stocks that are open to international investors, aiming to tap growing interest in the world's top oil exporting region, the index provider said yesterday. The S&P GCC Composite index will track 151 companies with a combined value of $110 billion, in five of the six Gulf states, S&P said in a statement. The Saudi market, the largest Arab bourse, is closed to investors from outside the Gulf region. Other Gulf Arab countries are looking to attract more foreign institutional investment.." [more]

Risk of Oil Crunch as OPEC Squeezes Tightening Market [Apr 13]
"The world faces the growing risk of an oil crunch this summer as OPEC supply falls to the lowest level in two years and stocks held by wealthy nations tumbled at the fastest rate in a decade. The International Energy Agency said the oil-exporting cartel had taken 1.2m barrels a day off the markets since last September in a move to support prices through the unusually mild winter, but had now pushed the pendulum too far the other way. Inventories held by the OECD club of rich states have fallen by 1.1m barrels a day over the first quarter.." [more]

~~~~~~~~~ [ Apr 12 ] ~~~~~~~~~

China Backs Arab Peace Plan, Says Special Envoy [Apr 12]
"China’s Special Envoy Sun Bigan, who completed a three-day visit to the Kingdom yesterday, said his country wholeheartedly welcomes the decision taken at the 19th Arab League Summit in Riyadh to reactivate the Middle East Peace Plan proposed by Custodian of the Two Holy Mosques King Abdullah in 2002. Sun, who held talks with King Abdullah and Foreign Minister Prince Saud Al-Faisal, was briefing reporters on the first leg of his tour to the region. He is due to visit Israel, Palestine and will also hold talks with European Union officials in Brussels on the issue.." [more]

Approval Given for Setting Up of 15 New Colleges [Apr 12]
"Fifteen new colleges, including two medical colleges in Riyadh and Al-Kharj and an institute of tourism and a nanotechnology center in Jeddah, will be established soon. Custodian of the Two Holy Mosques King Abdullah has approved the proposals made by the Higher Education Council in this respect.. ..the king has also approved a proposal to bring the colleges of teachers and girls under the purview of universities at academic, administrative and financial levels. These colleges were till now under the Higher Education Ministry.." [more]

Saudi Kayan IPO Could Damage Market [Apr 12]
"Saudi Kayan Petrochemical Co. secured approval from the Saudi stock market regulator on Wednesday to sell $1.8 billion of shares this month in what will be the second-largest Gulf Arab initial public offering. Saudi Kayan, which is 35% owned by state-controlled Saudi Basic Industries Corp. (SABIC), has approval to offer 675 million shares at 10 riyals each ($2.67) between April 28 and May 7.. ..'In its current state, the market does not need an IPO, especially of this size,' said Abdulhamid al-Amri, a member of the Saudi Economic Association, an independent economic research body. Saudi Arabia's stock market plunged 52.5% last year, making it the worst performer among 81 measured by U.S. stock market research company Birinyi Associates.." [more]

Saudi Extends Losses on Banks’ Woes [Apr 12]
"The Saudi bourse fell for a fourth consecutive day yesterday as investors sold banking stocks after a spate of weak earnings reports in the sector. The index fell 0.49% to 7,789.76 points. It is still up 1.6% this week after surging 5% on Saturday, its biggest one-day gain in nearly five months. 'The banking sector remains tricky and we are following banks very closely,' said Rami Sidani of Dubai-based Shuaa Capital. 'The sector is still suffering in the aftermath of the stock market crash'.." [more]

Shura Calls for Upgrade of Universities [Apr 12]
"The Saudi Shura (Consultative) Council has called for an upgrade of the standards of Saudi universities, the expansion of distance-learning, particularly education for girls and granting universities more financial flexibility. In December 2006, the performance of Saudi universities came under attack by a number of columnists and writers in the local press following the release of a global rating of world universities. The ranking has put Saudi universities at the bottom of the list.. ..The Shura Council decided that the ministry of higher education has to expand distance learning programmes at universities and higher education institutions.." [more]

IMF Casts Doubt on GCC Currency Union {Apr 12]
"The International Monetary Fund (IMF) yesterday casts doubt on the establishment of the GCC Monetary Union by 2010 saying, 'important preconditions remain to be fulfiled'.. ..Following Oman's announcement of its decision not to join the GCC monetary union at the scheduled date of 2010, it is reported that the six GCC monetary authorities are considering possible alternatives, including closer monetary policy coordination, during the transition to a full monetary union, it said.." [more]

Outlook for Middle East Remains Favorable [Apr 12]
"Middle Eastern oil producers, despite sound economies, are saddled with high unemployment rates and must find new sources of wealth to meet a growing demand for jobs, the IMF said yesterday. The International Monetary Fund in a report on global economic prospects nonetheless said the outlook for the Middle East as a whole remained “favorable,” with growth in the region expected to come to 5.5 percent this year and next after 5.7 percent in 2006.. ..But the IMF contended that oil producers are still heavily dependent on the petroleum sector at a time when “rapid population growth has contributed to some of the highest unemployment levels in the world.".." [more]

~~~~~~~~~ [ Apr 11 ] ~~~~~~~~~

U.S.-Saudi Rift? Saudi Actions Say Yes, Saudi Prince Says No [Apr 11]
"One of the most powerful countries in the Middle East, Saudi Arabia has been a longtime ally of the United States. But in recent weeks, the country, which shares its northern border with Iraq and holds one-quarter of the world's oil, has shunned America. In March, Saudi Arabia's King Abdullah bin Abd al-Aziz publicly attacked the U.S. military presence in Iraq, characterizing American troops there as an 'illegitimate foreign occupation.' On 'Good Morning America,' Saudi Arabian's foreign minister, Prince Saud al-Faisal, asserted his country was not attacking America or siding with Iraq. 'It's not attacking, and it's a pity that the media concentrated on this particular issue,'.. ,,Faisal also shot down the rumor that Saudi Arabia had canceled a recent White House dinner. 'That is absolutely not true,' he said. 'There was a visit planned, but the timing of it was not appropriate, and that was the reason for delaying it. It's not canceled, it's delayed'.." [more]

Congress Center of Anti-Saudi Hostility, says Turki [Apr 11]
"Prince Turki Al-Faisal, former Saudi ambassador to the United States, accused the US Congress of being “the center of hostility” in America toward Saudi Arabia. 'The reasons for that are many, the first of which is the Zionist lobby in the United States,' Prince Turki said at a symposium entitled 'The Role of Diplomacy in Political Crises,' organized by the Saudi Association for Media and Communications here yesterday. He said that the lobby was powerful and had a direct impact on the decisions taken by members of Congress.. ..Prince Turki believes that overcoming traditional diplomatic efforts and having direct contact with the people of any nation, especially the United States, is the key to success in diplomacy.." [more]

Saudi Arabia To Be Included in September Study [Apr 11]
"Saudi Arabia will be included in the Global Com-petitiveness Report due for September, World Economic Forum officials have said. The kingdom will also figure in the next Arab World Competitiveness Report, they said here on the sidelines of the WEF Arab World Competit-iveness Roundtable. Because of its huge size, a large-scale survey is required to cover the entire business community in Saudi Arabia.. ..Saudi Arabia has drafted experts to do the job. The kingdom’s officials have assured they will come back to us with a proper feedback soon,” the WEF officials said.." [more]

Media Seminar Blasts Official Silence in Times of Crisis [Apr 11]
"The Saudi media should not be held responsible for printing information when government officials refuse to speak to journalists at times of crises, said speakers at a symposium organized by the Saudi Association for Media and Communication. 'Why should the Saudi media be held responsible for printing information when government bodies refuse to comment on issues'.. ..Abdullah Al-Tuwairgi, a member of the Shoura Council, accused many government departments of not doing their public duty by revealing information to the press at times of crisis.." [more]

French-Saudi Meeting on Economic Cities Set [Apr 11]
"A Saudi-French meeting on the development of architecture and city mapping will be held at the Jeddah Chamber of Commerce and Industry (JCCI) on April 24, amid the Kingdom's thrust to establish six economic cities costing over SR300 billion. The French Consulate, the French Agency for International Business Development, the Saudi Architects Association and the French Business Delegation has organized the meeting.. ..The Kingdom is eager to take advantage of international experience in order to ensure that the cities are of a high quality. The cities are being developed with an aim of developing alternative means of revenue for the Kingdom and thus decreasing the Kingdom's dependency on oil.," [more]

Riyadh Forum to Address Asia’s Rising Energy Needs [Apr 11]
" Saudi Arabia will host the next roundtable conference of Asian oil and energy ministers next month, an informed source at the Ministry of Petroleum and Mineral Resources said yesterday. The one-day forum will focus on the future of energy in Asia. Delegates from China, India, Japan, Iran, Iraq, South Korea, Oman, Kuwait, the UAE, the Philippines, Bahrain, Thailand, Malaysia, Pakistan, Indonesia and Brunei, as well as the Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) will attend event, the source said.. ..The conference is hosted by the Kingdom, along with Japan and the International Energy Forum, to promote dialogue between oil producing and exporting countries and discuss issues affecting market and environment to boost mutual confidence.." [more]

Women's Empowerment Forum Brings American and Saudi Arabian Women Together [Apr 11]
"The Universal Express Friendship Invitational Women's Empowement Forum, hosted by Friends of Saudi Arabia (FSA) and the Ladies Professional Golf Association (LPGA),will bring American and Saudi women together to discuss topics affecting women internationally on Tuesday, April 17, 2007, at the Ginn Reunion Resort in Orlando. Constituents of the Women's Empowerment forum, including, keynote speaker, Ambassador Wendy Chamberlin, president of the Middle East Institute and previous UN High Commissioner; California politician and first Saudi woman to run for office in the United States, Ferial Masry; and Pam Swensen of the Executive Women Golfers Association, will discuss issues
revolving around Women in Islam, Women in the West, gender stereotypes, women's leadership, culture and diversity.." [more]

Saudi Film Gets to Rome Festival Final [Apr 11]
"The Higher Committee for the Rome Film Festival has chosen the Saudi film “Zilal Al-Samt” (“The Shadows of Silence”) among 15 films vying in the final competition for the festival’s top prizes, SPA reported Tuesday. The film, the brainchild of Saudi producer Abdullah Al-Muheisin, will be shown there on April 16. It is the only Arabic film in the finals. The film will compete against several films from Italy, and one film each from Iran, England, China, the United States, Australia, Serbia, France, Canada, Russia, Spain and Vietnam.. ..A seminar will be held after the film in which Al-Muheisin will discuss the difficult conditions during the “several long years” under which the film was produced.." [more]

Women Work Force Is Likely to Triple by 2009, Says Minister [Apr 11]
"The eighth five-year development plan (2005-2009) aims to improve the situation of Saudi women by providing them with more business and job opportunities, said Economy and Planning Minister Khaled Al-Gosaibi. Gosaibi expects that by the end of the plan period, the percentage of women in the Saudi work force will increase from a mere 5.4 percent to 14.2 percent.. ..The plan, which was approved by the Cabinet in November 2005, places greater emphasis on the potential role of women in the economy and the need to create more employment opportunities for them. It also identifies ways to achieve 
such female participation by upgrading the capabilities of Saudi women, and removing obstacles that constrain their increased participation in economic and development activities.." [more]

~~~~~~~~~ [ Apr 10 ] ~~~~~~~~~

Wave of Saudi Youths Challenge Kingdom's Conservative Sway [Apr 10]
"In Saudi Arabia, the young are findings more ways around the conservative regulation of public life. From dating to listening to music, they are testing the strict hold of religion on a kingdom ruled by the Koran and the same family for decades. Indeed, with more than 70 percent of its citizens under 30, the oil-rich country is being forced to find more room for freedoms than outsiders typically expect from this monarchy. While the young people aren't likely to lead a revolution on the scale that America saw in the 1960s, the urge for greater independence is coming under the rule of reform-minded King Abdullah, who many say is giving some license for Saudis seeking change.." [more]

Iraqi Officials to Hold Talks With Riyadh Soon [Apr 10]
"Saudi Arabia and Iraq will cooperate in security issues as senior Iraqi officials will arrive in Riyadh soon to discuss this matter, Saudi interior minister said in remarks published yesterday.. ..Prince Nayef was quoted earlier this week as saying that the Iraqi authorities promised to cooperate with the kingdom in handing over any of Al Qaida suspects involved in terror attacks in Saudi Arabia. But he believed that the lack of security in Iraq and the inability of the concerned authorities to reach the suspects are the reasons that no suspects were yet handed over to the kingdom.," [more]

Media Urged to Join Anti-Terror Fight [Apr 10]
"The Council of Ministers yesterday urged the media and cultural agencies to play a greater role in the Kingdom’s ongoing campaign to root out terrorism and terrorist ideology.. ..'The media and cultural agencies must do more in confronting the phenomenon of terrorism, by rooting out terrorist ideology and addressing social and international factors that promote terrorism'.. ..The Cabinet also underscored the cohesion and unity displayed by Saudi society in confronting terrorism and trying to eradicate the phenomenon from the country.." [more]

Kuwait Set to Ban Saudi Imports Over Bird Flu Scare [Apr 10]
"The trade minister of Kuwait is expected to ban poultry imports from the Kingdom of Saudi Arabia following growing fears in the GCC over the persistence of the bird flu virus among the region's poultry, according to media reports. The KSA was hit with bird flu in March, causing demand for poultry to fall by 30 per cent in some provinces.." [more]

Arab Economies Suffer Huge Losses Due to Money Laundering [Apr 10]
"Financial crime including money laundering is resulting in major economic losses for the Gulf countries and the Arab world, according to a top official. Arab banks are in continuous need of advanced technology and solutions to acquire the necessary tools to better control all operations and activities and hence combat this serious international crime. "Recent studies have concluded that $5 billion worth of laundered money can result in losses worth up to $11.26 billion in gross domestic product.." [more]

Gulf Power Grid Network Ready by 2010 [Apr 10]
"A power grid project connecting the six Gulf Cooperation Council states will be ready by 2010, said the undersecretary of Saudi Arabia's Ministry of Water and Electricity, who is overseeing the project. The second phase of the project connecting Oman and the UAE was completed last year and it is ready for operation.. ..Work has started on the next phase of the project extending from Kuwait to Doha via Saudi Arabia, Dr Saleh Al Awaji. The multi-billion dollar project is aimed at reducing the cost of power generation in the Gulf.." [more]

Mesfaar Marriage Travel Solution for Women [Apr 10]
"Women students aspiring to go abroad on scholarships as part of the King Abdullah Scholarship Program were told last month that they would be unable to leave the Kingdom without a legal companion in the form of a husband, brother, or father — something that has caused an increase in a form of marriage dubbed the 'mesfaar marriage' (the travel marriage). Thirteen students have so far announced their intentions to get married solely for the purpose of being able to travel abroad and qualify for the scholarship program. The students say their family circumstances make it difficult for their brothers and fathers to accompany them abroad for long periods of time, sometimes three or four years.." [more]

~~~~~~~~~ [ Apr 9 ] ~~~~~~~~~

The New Silk Road  [Apr 9]
"When Chinese President Hu Jintao visited the oil giant Saudi Aramco last year, he didn't need a translator. Plenty of Chinese-speaking Saudis were on hand. A few years earlier, Saudi Aramco had sent dozens of employees to study in Beijing. After all, China, not the United States, represents the future growth for Saudi oil exports. Meanwhile, the Saudis are sponsoring students to study in India, China, Malaysia, Singapore and South Korea.. ..The Saudi students represent one small part of the growing trade and business corridor between the Middle East and Asia. Dubbed the "new Silk Road," trade and investment between the regions has quadrupled in the past decade and will continue to rise dramatically through 2020.. ..This new Silk Road is not only boosting economies (the India deal is expected to create 100,000 jobs) but is changing the geo-economic and geopolitical landscape of the East, with serious ramifications for U.S. policy.." [more]

Saudi Arabia Vows Crackdown on Radical Clerics  [Apr 9]
"Saudi Arabia’s top security official has vowed to tackle extremist clerics, saying that authorities will be keeping a close watch. Radical clerics in the kingdom and abroad have issued edicts that encouraged jihad or religious attacks against the Saudi government and Western residents.. ..Prince Nayef also urged the official religious establishment to avoid the spread of extremist views. He said the lack of positive action from clerics will prompt a 'deficiency'.." [more]

Segregation of Sexes Is Not Right — Naif  [Apr 9]
"Interior Minister Prince Naif yesterday urged the Saudi community not to endorse the culture of segregation between men and women.. ..Speaking about Saudi women and their role in society, the minister said it “was necessary” that people realized the important role played by women and the achievements they have made. 'Women have their capabilities and they have a role to play which was given to them by the Creator...Women are our mothers, our sisters, and our wives,' said Naif, urging Saudis not to further endorse the culture of segregation that exists in Saudi society. 'I hope this would be reduced'.." [more]

What a Difference a Year Makes in Saudi Arabia  [Apr 9]
"What do Microsoft’s Bill Gates and Cisco’s John Chambers have in common? Agreed, they’re both not short of a few Riyals. However, on a more serious note, they have both paid a visit to Saudi Arabia during the last year, and have pledged significant investment to continue building up operations in the Kingdom. This level of commitment from A-brand vendors highlights the growing importance of the Saudi Arabian market, not just in the context of the Middle East, but also on the global ICT stage.." [more]

Let's Get to Know the Saudis  [Apr 9]
"The U.S.-Saudi Arabian relationship has long been important, sensitive and opaque. Over the last few months, it has also been tested by a newly assertive Saudi Arabia. A simple deal has driven U.S.-Saudi relations for decades: The Saudis provide access to affordable oil; the United States provides security for the Saudi royal family. Yet tensions intrude upon this marriage of convenience.. ..At a time when America's standing in the Middle East is shaken, it is not surprising that the Saudis are defining their interests as they see them, not as we do. We should use this occasion to better understand Saudi concerns, and to move toward a relationship that is deeper and more sustainable than the simple 
deal that has defined U.S.-Saudi relations all these years.." [more]

250 Projects Underway in Economic Cities  [Apr 9]
"A top official in charge of the Kingdom’s economic cities confirmed that nearly 250 work programs are now under development here, the Arabic daily newspaper Al-Watan reported Sunday. In a statement, Fahd Bin Abdul Mohsin Al-Rasheed, the deputy governor of the Saudi Arabia General Investment Authority (SAGIA) in charge of economic cities, said that a new project management office has been established to make sure that the plans currently under development are carried out. A work plan has been laid out by the Authority through the year 2020, he said. The new office will have the responsibility and resources to attract the best human resources, both Saudi and international, for the economic cities.." [more]

Chinese Special Envoy Due in Riyadh to Discuss ME Peace  [Apr 9]
"China’s special envoy Sun Bigan will be in the Kingdom on a three-day visit beginning today as part of regional tour and is said to meet Custodian of the Two Holy Mosques King Abdullah and other high-ranking officials at the Saudi Foreign Ministry. 'The purpose of his visit to the region is to hold talks with heads of state on the current issues in the Middle East,' Pan Liang, spokesman from the Chinese Embassy, told Arab News yesterday. 'The current situation in the Middle East and the latest developments in the region will be the focus of Sun’s talks with the Saudi king and Foreign Ministry officials'.." [more]

Kingdom’s Current Account Surplus to Reach SR245 Billion  [Apr 9]
"Saudi Arabia’s current account surplus is expected to reach SR245 billion ($65.3 billion) or 19.2 percent the of gross domestic product (GDP) this year. According to a SABB’s latest report about Saudi Arabia prepared by SABB Chief Economist Dr. John Sfakianakis, Saudi Arabia’s current account surplus was 10 percent of the world’s surplus in 2006 and was among the top five global surplus holders. The SABB report said current account surplus would decline 46.1 percent due to decrease in oil exports, increase in imports and service and income transfer deficits.." [more]

Jeddah Show Affirms Booming Real Estate  [Apr 9]
"Real estate investments in the Kingdom have been witnessing a healthy revival in the past five years, which is mainly attributed to the return of capital as well as the soaring oil prices and increase in oil revenues. The recently introduced regulatory framework covering investment laws for GCC nationals also made freehold investment in the Kingdom highly attractive. Professionals in the Saudi real estate market affirm that the capital invested in this sector runs into billions of riyals and will likely go up in the light of phenomenal growth and development the sector is witnessing.." [more]

~~~~~~~~~ [ Apr 8 ] ~~~~~~~~~

Lebanon Opposition Divided Over Saudi Arabia's Role [Apr 8]
"Despite a call by Parliament Speaker Nabih Berri for a Saudi-brokered settlement to the Lebanese Crisis, a Hezbollah-affiliated columnist said Friday Riyadh opposes giving the opposition veto powers in a new Lebanese government.Columnist Yassir al-Hariri, a Shiite Muslim who is affiliated with Hezbollah 's deputy leader Sheik Naim Qassem, wrote that 'Saudi Arabia does not want to give a one-third guarantee (of cabinet seats) to the opposition and is buying time in favor of majority forces while awaiting clear regional and international indications as to whether the region is heading either towards a military operation against Iran, Syria and Hezbollah or a comprehensive settlement'.. ..Contents of the article attributed to unnamed opposition sources, sharply contradicted with Berri's call for a Saudi-brokered settlement to the Lebanese crisis.." [more]

Saudi Shiites Fear Fallout From Iraq Sectarian Strife [Apr 8]
"..Saudi Arabia, home to Mecca and Medina, Islam's holiest shrines, had been easing restrictions on Shiites gradually since 2004, when, emboldened by the U.S.-led ouster of Saddam Hussein, Shiites petitioned for equal rights in politics, religion and the workplace. The Saudi government agreed to allow Shiites in the Eastern Province to open husseiniyas and to mark their religious festivals publicly. Now, however, leaders of the kingdom's Shiite minority are fearful of losing their hard-won religious freedoms as sectarian violence sweeps Iraq and worries grow that Sunni-Shiite warfare will spill throughout the Middle East.." [more]

Saudi Index Jumps to Close Above 8,000 [Apr 8]
"Saudi Arabia’s bourse leapt more than 5% yesterday, its biggest one-day gain in nearly five months, as investors sought bargains after a correction and anticipated healthy first-quarter profit growth.. ..All traded stocks on the Riyadh bourse rose, with more than 40 firms, most in the agricultural and services sectors, surging 9% or more. The index jumped 5.16% to 8,061.97 points, its sharpest single-day rise since November 12. Saudi Arabia’s index had fallen more than 14% after hitting a 2007 high on March 10, when the index ended a five-week rally that had added more than 30% to its market capitalisation.." [more]

Restrictions Hit Saudi Tourism Promotion [Apr 8]
"The promotion of domestic tourism in Saudi Arabia is still hampered by restrictions, according to the head of a leading travel group in the Kingdom. 'Restrictions still remain in promoting local tourism. They have not yet activated the tourist visa. Even for those inside the Kingdom, it is still difficult for families to visit the tourist spots, because the infrastructure has not yet been developed,' said Nasser Al Tayyar, chairman of the Al Tayyar Group, which is based in Riyadh. 'Also, the cost of accommodation in or around the tourist areas is still high compared to other tourist destinations. All these restrictions are killing the tourist trade. We also need tourist literature in English if we want to target the expatriates and other tourists from outside the Kingdom,' he said.." [more]

Pranab to Begin Visit to Saudi Arabia on Monday [Apr 8]
"External Affairs Minister Pranab Mukherjee is set to begin a three-day visit to Saudi Arabia from Monday, keeping up New Delhi's growing tempo of engagement with West Asia.. ..Mr. Mukherjee's trip is also being seen as a precursor to a possible visit by Prime Minister Manmohan Singh to Saudi Arabia later this year. The Saudi Government has recently raised its profile on the international stage, by helping to form a Palestinian Unity Government and increasing the level of Riyadh's engagement with Tehran.." [more]

83,000 Homeless Children Roam Saudi Streets [Apr 8]
"Around 83,000 homeless children are roaming the streets of Saudi Arabia, according to a recently released study. The children are believed to have been brought from neighbouring countries to work as camel jockeys and later were used for selling low-priced goods, according to Dr Abdullah Bin Abdul Aziz Al Yousuf, associate professor of sociology at the Riyadh-based Imam Mohammad Bin Saud Islamic University.. ..Contrary to what is reported in the daily press, the study noted that 69 per cent of street children in Riyadh are Saudis while 56.6 per cent of them are females. Around 88 per cent mothers of begging children are illiterate while nine per cent have only primary education.." [more]

Militants Receive Foreign Help: Naif [Apr 8]
" Interior Minister Prince Naif has said that militants in Saudi Arabia receive foreign assistance and urged Islamic scholars, intellectuals and the general public to play their roles in the ongoing campaign to root out terrorism from the country. 'These people are receiving support, especially from abroad in addition to support from inside, in terms of finance and religious rulings,' the Saudi Press Agency quoted the minister as saying. Prince Naif urged Islamic scholars, intellectuals and the media to launch a concerted campaign against militants by unveiling their crimes against humanity.." [more]

Ministry Eyes Law to Promote Professionalism [Apr 8]
"The Labor Ministry is planning to enact a new law restricting practice of specialized professions to qualified persons. It will study 43 professions in the first phase, including engineering, medical and financial professions. The move is aimed at reducing professional mistakes. Market analysts said the new law was planned as a result of Saudi Arabia’s accession to the World Trade Organization (WTO), which demands from the Kingdom to comply with international market requirements.. ..The new law demands establishment of training institutes approved by the Labor Ministry.." [more]

Full-Fledged Dental College to Be Set Up [Apr 8]
" Custodian of the Two Holy Mosques King Abdullah approved the establishment of a full-fledged dental college to be set up under the umbrella of King Saud ibn Abdul Aziz University of Health Science, which functions under the King Abdul Aziz Medical City (KAAMC) in Riyadh. Announcing the new development, Prince Miteb ibn Abdullah, assistant deputy commander of the National Guard for military affairs, said the proposed college will be a model in the region which would include a state-of-the-art curriculum, advanced teaching methods and modern methods of training.." [more]

Apr 1-Apr 7, 2007

~~~~~~~~~ [ Apr 7  ] ~~~~~~~~~

No Final Decision Taken on Arms Sales to Gulf [Apr 7]
"Respond-ing to reports that objections from Israel have caused the United States to delay a major arms sale package to Saudi Arabia and other Gulf States, State Depart-ment spokesman Sean McCormack on Thurs-day said no final decisions have been made on the sale. 'We are working with Saudi Arabia, states in the Gulf on their particular defensive needs, given the strategic challenges in the Gulf'.. ..Clearly the region is behind the qualitative military advantage, he said.“We are committed to Israel’s security,” McCormack said. 'We are also committed to our historical relationships, good, strong relationships with other states in the region, including Saudi Arabia'.." [more]

Gas Crunch Likely as Mideast Races to Meet Local Needs [Apr 7]
"Flush with cash from record oil revenues, Middle East crude producers have spent billions on economic development and now find themselves short of another energy source needed for growth - gas.. ..regional demand growth of up to 10 per cent per year is eating into export potential. Widening supply deficits are forcing governments to emphasise meeting domestic needs.." [more]

Aramco-Dow Project Costs Surge to $22bn [Apr 7]
"Saudi Arabian Oil Co and Dow Chemical Co (Dow) are adamant they will go ahead with building a large-scale refinery and petrochemicals complex in eastern Saudi Arabia, company officials said this week, despite industry estimates that costs have more than doubled to $22bn, according to Dow Jones Newswires. A memorandum of understanding was due to be signed at the start of this year, but neither company would be drawn on when this will now happen. Aramco plans to float a 30% stake in the Ras Tanura complex in an initial public offering later this year.. ..The project, to come on stream in the second quarter of 2012, will integrate Aramco’s existing refinery at Ras Tanura with a new petrochemicals complex on the oil-rich kingdom’s Gulf coast. Industry estimates put the cost for the complex at $10bn when it was first mulled over by Aramco and at $15bn last July when Aramco announced that it had selected Dow to enter into exclusive negotiations on developing the project. However, industry sources in and outside Saudi Arabia now say building the complex may cost as much as $22bn.." [more]

Abdullah Housing Project to Benefit Palestinian Widows [Apr 7]
"Palestinian women, including widows, will receive 100 housing units under the King Abdullah Charitable Housing Project, which was launched in the West Bank town of Hebron on Thursday.. ..The new housing units will be distributed among Palestinian widows and poor women, he said. “A number of small-scale commercial projects will be established to give these women means to earn their livelihood,” the UN official said.. ..The Saudi Relief Committee will also finance small-scale projects worth $6.3 million for the benefit of these women.." [more]

Saudi Stocks Continue Downward Trend [Apr 7]
"Saudi shares suffered for the third week in a row due to a plunge of blue chips. The decline led by the banking sector and the Saudi Telecom Co. The Tadawul All-Share Index (TASI) of the Saudi stock exchange shed 2.83 percent last week closing at 7,666.62 points, down from 7,889.74 points from the previous week. The TASI, which lost 13 percent over the past three weeks, is currently 3.36 percent lower that the year’s start.." [more]

~~~~~~~~~ [ Apr 6  ] ~~~~~~~~~

Al Qaida Suspect Killed in Saudi [Apr 6]
"Saudi Arabi said it has killed a suspect linked to Al Qaida who was involved in the killing of four Frenchmen, the official news agency SPA reported on Friday. It said the suspect, Waleed Bin Mutliq Al Radadi, was killed when police stormed a residential building in the city of Medina, one of Islam's holiest sites. Four French nationals were killed by gunmen on February 26 in the Arab country during a desert trip.. ..Radadi was number six on the 15 most-wanted list issued by Saudi Arabia in 2005.." [more]

We Must Take Destiny in our Hands [Apr 6]
"Prince Turki Al Faisal is one of the highly respected figures in Saudi Arabia and the rest of the Arab world. A former diplomat, he is currently, chairman of King Faisal Centre for Research and Islamic Studies based in Riyadh. He is the nephew of Saudi monarch, King Abdullah Bin Abdul Aziz, a charismatic popular Saudi leader and the son of late King Faisal, whose is still regarded as a great Arab leader decades after his death. Prince Turki, 62, a sharp, courteous and gentle figure, spoke to Gulf News in an exclusive interview in his office at the Centre.." [more]

BAE Denies Bribery on Saudi Deal [Apr 6]
"Britain's biggest defence manufacturer BAE Systems confirmed to the British attorney general that it had provided "support services" to Saudi officials in communication 18 months ago, an account made public under freedom of information laws showed yesterday. Though the account did not specify what the 'support services' were, BAE denied allegations of bribery being investigated by Britain's anti-corruption watchdog, claiming that the services were part of 'contractual arrangements'.. ..It was alleged that BAE had provided a slush fund to encourage business with the company.." [more]

Pelosi Raises Issue of Women Politicians in Saudi Arabia [Apr 6]
"US House Speaker Nancy Pelosi yesterday visited Saudi Arabia's unelected advisory council, the closest thing in the kingdom to a legislature, where she tried out her counterpart's chair - a privilege no Saudi woman can have because women cannot become legislators.. ..Pelosi later sidestepped a question on how she felt about the absence of women Saudi female Shura members, saying: "I am very pleased that after 200 plus years in the US we finally have a speaker. It took us a long time." Asked if she brought up the issue at yesterday's meeting with the council members, she said: 'The issue has been brought up in our discussions with the Saudis on this trip'.." [more]

Shoura Raises Visa Issue [Apr 6]
"US House of Representatives Speaker Nancy Pelosi, a California Democrat, paid a visit to the Shoura Council yesterday where leaders of the two political bodies pledged to exchange information and conduct more bilateral visits. Shoura members also broached the subject of the difficulties in Saudis obtaining visas to visit or study in the United States, a process that in the best situation usually takes four or five months.. ..Speaking to The Associated Press, Shoura Council member Ihsan Buhulaiga expressed hope that Pelosi would take into consideration the concerns of Saudi students and visitors to America. 'We told her there should be some movement on the visa issue because while we understand the security needs of the US, the situation is unacceptable,' he said.." [more]

Jeddah to Host Banking, Investment Conference [Apr 6]
"Next week’s Saudi International Banking and Investment Conference 2007 in Jeddah will feature 36 speakers, all experts in their specialized fields, according to the organizers. The two-day conference from April 9 will be formally inaugurated with the support of Makkah Governor Prince Abdul Majeed at the Jeddah Hilton Exhibition & Conference Hall at 8 p.m. on Sunday (April 8). The National Commercial Bank (NCB)will host the opening event.. ..The conference sessions will cover the emerging investment-friendly market and changes that are taking place in the banking, insurance, capital market, and real estate finance and development sectors.." [more]

~~~~~~~~~ [ Apr 5  ] ~~~~~~~~~

House Speaker Pelosi Visits Saudi Arabia  [Apr 5]
"House Speaker Nancy Pelosi said Thursday that she raised the issue of Saudi Arabia's lack of female politicians with Saudi government officials on the last stop of her Mideast tour. Pelosi, the first woman House speaker, said she had not discussed King Abdullah's recent criticism of the U.S. occupation of Iraq, focusing instead on praise for the king's Mideast peace initiative, and efforts to quell conflicts in Somalia and Darfur. She met with the king Wednesday and with several members of the Shura Council.." [more]

Israel Blocks US-Saudi Arms Deal [Apr 5]
"Israel has stalled an American plan to sell advanced weaponry, including satellite-guided arms, to Saudi Arabia, the New York Times reported Thursday. The newspaper said on its website that Israeli officials, including former defense minister Shaul Mofaz, have strongly lobbied Washington in recent months to block parts of a planned arms package for the Saudis and unspecified others in the Middle East that could be worth five billion to 10 billion dollars.. ..'The Israeli complaints have introduced a new uncertainty into the (US) administration's plan to beef up Persian Gulf militaries as a bulwark against Iran and as a demonstration that, no matter what happens in Iraq, Washington remains committed to the Sunni Arab governments around the region,' the Times said.." [more]

BAE Confirms Support Services Deals with Saudi Officials [Apr 5]
"BAE Systems confirmed that 'support services' were paid for and provided to senior Saudi Arabian officials as part of the al-Yamamah arms deal, the Financial Times reported, citing an official account released last night. In a letter from BAE's solicitors to the Serious Fraud Office in November 2005, the company confirmed that payments had been made for the provision of 'support services' to Saudi officials, although it did not say what these services were, and it told the SFO the allegations were unfounded, the paper reported.. ..The Times reported that Saudi Arabia will wait for Chancellor of the Exchequer Gordon Brown to become prime minister before signing a 20 bln stg deal to buy Eurofighter Typhoon jets from BAE.." [more]

Rakisa Postpones Saudi Economic City IPO [Apr 5]
"The Chairman of Rakisa Holding Co., the developer of Saudi Arabia's $8 billion Prince Abdul Aziz bin Mousaed Economic City, announced that the company has delayed an initial public offering (IPO) until May due to a Gulf stock market slump.. ..Rakisa is leading the consortium developing the project north of Riyadh that will include a new airport as well as industrial and residential areas. Rakisa is also planning to invest $1 billion in building a cement factory inside the city.." [more]

Gulf Single Currency Deadline in Doubt [Apr 5]
"The meeting of the GCC central bank governors in Saudi Arabia that came to an abrupt end late on Tuesday, without arriving at any clear decision on the 2010 deadline to achieve monetary union, has deepened the doubts about GCC states' ability to meet the various fiscal convergence criteria within the deadline. 'Although the governors' meeting called on the member states to expedite measures to meet the target deadline, it stopped short of reaffirming the feasibility of the 2010 deadline, especially in the context of Oman clarifying its inability to stick to the original schedule and Qatar disagreeing with the criteria for common inflation targets'.." [more]

~~~~~~~~~ [ Apr 4  ] ~~~~~~~~~

League Chief Snubs Israel [Apr 4]
"Arab League chief Amr Moussa yesterday rejected an Israeli invitation to participate in a regional summit to re-activate the peace process, describing it as 'not serious'. 'The letter wasn’t serious and offered nothing new,' the secretary general said during a press conference in Cairo.. ..Moussa added that the invitation came in the form of a letter from Israeli Prime Minister Ehud Olmert to participate in a meeting of Israelis, Palestinians and 'moderate' Arab nations.He said he rejected the offer because the Israelis wanted to modify the Arab peace initiative and were describing the return of Palestinian refugees as a 'red line'.." [more]

Detained Men Wanted to Form Political Party [Apr 4]
"Saudi reform activists arrested in February on suspicion of funding terrorism were considering forming a political grouping in the kingdom, a prominent reformer said yesterday. 'Some of the men ... were interacting and discussing an idea revolving around the possibility of creating a political forum [party],' Matruk Al Faleh said in a statement. 'The arrests seem to abort the very idea itself,' said the politics professor, who was jailed in 2005 over his calls for political reform.." [more]

Saudi Signs $1.9bn Rail Contract [Apr 4]
"..today Saudi Arabia is celebrating the signing of a SR7.1 billion contract to build a 1,765km railway that will link industrial complexes and cities in the Northern, Central and Eastern Provinces of the Kingdom.. ..Contracts were signed yesterday worth SR7.1 billion to build a north-south railroad project covering a distance of about 1,765 km to transport raw materials from the Saudi Arabian interior to the Gulf coast. The transport infrastructure project is part of a massive investment in downstream oil and gas projects that will include a SR13 billion fertiliser plant and a SR22.5 billion aluminium smelter. Both will transport their produce by rail to the new shipping terminal under construction at Ras Al-Zour on Saudi Arabia's East coast.." [more]

Foreign Investments in Saudi Arabia Increase [Apr 4]
"The number of licensed foreign investment projects in Saudi Arabia now stands at 3,272 with a capital of 275 billion Saudi riyals, according to a study.. ..Foreign investments in Saudi Arabia increased significantly between 2001 to 2005, said the study, which evaluated the economy's performance during the first five years of the century. The study reaffirmed that the performance of the national economy had improved the state budget during the past few years as the total surplus had jumped fivefold from only 22.7 billion riyals in 2000 to 107.1 billion riyal in 2004 with an average annual growth of 47.3 per cent.." [more]

Oil Dives More Than $1 as Tensions Ease [Apr 4]
"Crude oil prices plunged more than $1 a barrel yesterday as tensions eased in the standoff between Britain and Iran over captive British military personnel. Prices had risen steadily since 15 British sailors and marines were detained March 23 by Iran for allegedly entering Iranian waters.. ..Still, oil analyst Victor Shum of Purvin & Gerz in Singapore warned of potential market volatility. 'There's no clear indication one way or the other how it's going to be resolved,' Shum said. 'There could be price swings in either direction depending on how this situation develops.' The fear that Iran could disrupt the oil trade is causing traders to add a risk premium, especially as they see less of a cushion after the Opec production cut.." [more]

Kingdom’s Economic Outlook Bright Despite Stock Correction [Apr 4]
"Saudi Arabia’s economy is set to grow at a robust pace despite the deceleration it will witness this year. According to a SABB’s latest report about Saudi Arabia prepared by SABB Chief Economist Dr. John Sfakianakis, the Kingdom’s nominal GDP is expected to decline by 2.2 percent.. ..“The worst the economy has witnessed in terms of macro-economic aftershocks are abating but it is of vital importance to recognize the effects of the stock market decline on the consumer in areas such as household indebtedness and spending patterns'.." [more]

Saudi Telecom Eyes 2 Major Buyouts Abroad [Apr 4]
"Saudi Telecom Co. (STC) can raise up to $15 billion in debt to fund one or two large acquisitions either in Africa or Asia in its bid to enter foreign markets, a senior STC official said late on Sunday. 'We are thinking big and looking for an operator with a foothold on several markets, 15-20 million users,' the official said after a shareholders general meeting in Riyadh. 'We have huge cash flow and zero leverage,' he said on condition of anonymity. 'We can easily raise between $10 billion and $15 billion in debt for an acquisition that really fulfils our ambitions.' He said that the company might opt for one or two acquisitions.." [more]

~~~~~~~~~ [ Apr 3  ] ~~~~~~~~~

Worker Freedom: Saudi Arabia Gets High Rating in Heritage Index [Apr 3]
"Saudi Arabia has been ranked sixth in labor freedom with a 92.9 percent rating among 157 countries in the Economic Freedom Index issued by the Washington-based Heritage Foundation. Deputy Labor Minister Dr. Abdul Wahid Al-Humaid said the report is an affirmation of labor freedom in the country. According to Al-Jazirah Arabic daily, only eight countries received above 90 percent in the Heritage Index. The United States was placed seventh with 92.1 percent, just below Saudi Arabia, the paper pointed out. The other top countries in the top eight were: Georgia, Singapore, Uganda, Hong Kong, Australia and Thailand.. ..Saudi Arabia is a free economy, which does not put any restrictions on individual business activities or any private sector initiative, the paper said.." [more]

Saudi Reformists Call for Change [Apr 3]
"Reformists in Saudi Arabia have sent a petition to King Abudullah asking him to set up a constitutional monarchy based on Islam. The 99 name petition was sent to King Abdullah, and 15 members of the ruling Saud family and calls for the introduction of a parliament elected by both men and women.. ..Mohammad Bin Hudeijan Al Harbi, who authored the letter, said he thought the response would be positive. He said: 'We believe that King Abdullah is the most prominent advocate of reform in Saudi Arabia'.." [more]

Olmert's Call Draws Skeptical Response [Apr 3]
"The Israeli prime minister's call for a regional conference with Arab leaders drew a sceptical response yesterday from Palestinian officials and some diplomats who said it was a diversionary tactic.. ..The diplomats played down the chances of a regional conference taking place any time soon because Saudi Arabia has already made it clear to the United States that it would not be prepared to take part without a commitment from the Jewish state to accept a peace plan adopted at an Arab summit last week.." [more]

Philippine President Welcomes US$153 Million Saudi Hotel Investment [Apr 3]
"The Philippine president hailed a deal by Saudi Prince Alwaleed bin Talal to invest US$153 million (€114 million) in an upscale Manila hotel complex, saying Tuesday more Arab investors should follow suit.. ..Newspapers reported Ayala Land will own 60 percent of the hotel complex and KHI the rest. It is expected to be completed within three years, and will include 300-room Fairmont Hotel, 30-suite Raffles Hotel and 189 Raffles-branded private residences.."  [more]

US, Saudi Students Bridge Cultures in Jordan [Apr 3]
"A group of 24 female students from Harvard University in the United States and Dar al-Hekma College in Saudi Arabia acted as a 'cultural bridge' over the past week by teaming up to build homes in the poverty-ridden southern Jordan Valley area of Ghor al-Safi, the US embassy said in a statement Tuesday. The community housing project, sponsored by Habitat for Humanity, was the first-ever initiative to bring together women students from the US and Saudi Arabia specifically for a community service-based international exchange programme.. ..The event was arranged by the Office of the Senior Advisor to the US Secretary of State for Women's Empowerment, the embassy said. The students raised money from private donors to cover all expenses, it added.." [more]

Saudi Arabia, Dubai Lead Gulf Stock Tumble [Apr 3]
"Most Gulf Arab indices dropped yesterday, with markets in Saudi Arabia, Dubai, Abu Dhabi and Qatar falling to milestone lows. Banking stocks, including Samba Financial Group in Saudi Arabia, Dubai Islamic Bank, and First Gulf Bank in Abu Dhabi, led declines.. ..Saudi Arabia’s market closed lower for the fifth time in six trading days, ending at its lowest since February 12. The index dropped 2.54% to 7,613.97 points, the Gulf’s steepest decliner. Samba shed 3.25%, among the top declines by the 10 largest firms. 'The index had risen steeply and some big players started taking profits,” said Rami Sidani, senior associate for asset management at Shuaa Capital. “This triggered panic among retail investors which should be short-lived'.." [more]


US Obsessed With 9/11 Terror Attacks [Apr 3]
"The US remains "obsessed" with the terrorist attacks on 9/11 and is unlikely to allow Arab investment into sensitive sectors such as airports and ports for years, says Prince Al Waleed Bin Talal, the billionaire Saudi investor. Concerns in Washington over national security last year forced Dubai Ports World to divest the US operations acquired as part of its takeover of UK ports operator P&O, raising fears of protectionism in Middle East investors. However, Prince Al Waleed, whose Riyadh-based Kingdom Holding owns big stakes in US companies including Citigroup and News Corporation, said: 'The US is still obsessed by 9/11 and sensitivities over security'.." [more]

New Directive Gives Women Hope of More Reforms [Apr 3]
"“I felt optimistic when I read the news. It made me feel that effective reformations are actually happening,” said Hatoon Ajwad Al-Fassi, associate professor of history at King Saud University. She was responding to a directive issued by Interior Minister Prince Naif granting Saudi women the right to obtain duplicates of their children’s birth registers as well as documents related to themselves and their husbands from the Civil Affairs offices.. ..According to Al-Fassi, this decision benefits divorced women first and then women whose husbands have left them but not removed their names from the family card and who have refused to help them in completing official procedures.." [more]

Streamline Procedures for Visa Issuance, Say Western Tourists [Apr 3]
"Cultural understanding between the Kingdom and North America could get a big boost if the visa issuance procedure is streamlined and bottlenecks on visits to tourist spots are removed, said members of a group of 11 American and Canadian men and women currently visiting the Kingdom. The group expressed satisfaction over the arrangements and said the tour changed their perceptions about Islam and their impressions about the Kingdom. They pointed out that even though the Supreme Commission for Tourism has been doing its best to promote Saudi Arabia as a tourist destination, the main difficulty lies in getting visas.." [more]

~~~~~~~~~ [ Apr 2  ] ~~~~~~~~~

Saudi Relations With U.S Cooling [Apr 2]
"Recently there has been a shift in Saudi King Abdullah's attitude, behavior, and rhetoric towards the U.S. Based on this, some analysts are reporting that their alliance is crumbling -- but is it? In a complex region such as the Middle East, at a time when stability or the lack thereof is dependent on the actions of so many players, perhaps it is too early to make any rash judgments. It could well take a year or more to ascertain whether the Saudi relationship with the U.S. has or is actually changing or if it is anything more than an attempt by the Saudi monarchy to regain credibility with their population and their Arab League counterparts at a crucial time for Sunni Arab unification.." [more]

Saudi Official Says Arabs Expect Israel to Withdraw [Apr 2]
"Israel should withdraw from Arab territory and allow the creation of a Palestinian state before Arabs recognize it, a Saudi official said Monday, a day after Israel's prime minister invited Arab leaders to discuss their ideas for peace with him.. ..The Saudi official told The Associated Press that "before any meeting could be considered," Israel should accept the 2002 Arab peace initiative that would recognize Israel in exchange for withdrawal from captured territory and a just solution for the Palestinian refugees. He spoke on condition of anonymity because of the sensitivity of the issue.." [more]

Saudi Spending to Top $116bn [Apr 2]
"Saudi government spending could increase 11.5 per cent to $116 billion this year, says a report. Economic growth in Saudi Arabia, the largest GCC economy, could accelerate this year on the back of the projected rise in government spending, Riyadh Bank said in a research report. The bank expects gross domestic product to grow 4.3pc in 2007 compared to 4.2pc in 2006.." [more]

Saudis to Develop Convention Centre [Apr 2]
"Saudi Arabia has decided to construct 30 luxury villas to serve as lodging for leaders and foreign dignitaries who are to gather in Riyadh for future meetings, a high-ranking Saudi source has said. Analysts see this as an indication of the country's satisfaction over the outcome of the recent Arab Summit held in Riyadh.. ..The project, at the King Abdul Aziz International Conference Centre in Riyadh, will also include a 14-storey hotel, and is expected to be finished by the end of 2008. The chief of Saudi Royal Protocol, Mohammad Al Tubaishi, said the new project would raise the standards at the centre to international level.." [more]

Olmert Calls for Peace Conference With Arabs [Apr 2]
"Israeli Prime Minister Ehud Olmert yesterday invited Arab leaders to a regional peace conference, saying that he would look there for an exchange of views about solving the Mideast conflict.. ..While generally welcoming the peace initiative endorsed by Arab leaders at a summit last week in Saudi Arabia, Israel has called several key components problematic and has been noncommittal about how to proceed.." [more]

Saudis Lead List of Arab Billionaires: Forbes Arabia [Apr 2]
"Forbes recently announced the 2007 list of the world’s richest people, which includes 30 billionaires from the Arab world with a collective net worth approaching $125.3 billion. The world’s total number of billionaires totaled 946 with a collective net worth of $3.5 trillion, a significant increase from the 2006 figures of 793 billionaires with a collective net worth of $2.6 trillion. Although the Arab world’s richest list preserved its usual flavor, with Saudi Arabia offering 13 out of the 30 total billionaires, and Prince Alwaleed bin Talal topping the Saudi rankings with a net worth exceeding $20.3 billion, there were also some big surprises this year which witnessed a few newcomers, a few returns, some departures and a general trading of places.." [more]

Nonoil Private Sector Fuels Kingdom’s Growth [Apr 2]
"Saudi Arabia’s economy shows signs of vitality this year as the nonoil private sector continues to grow at a more robust pace than the oil sector — a promising path to economic diversification. According to a Riyad Bank’s first quarter 2007 Saudi Economic Review report, the Kingdom’s GDP grew 12.8 percent in current prices in 2006, down from 23.7 percent growth in 2005. The drop in nominal growth is attributed to two factors in the Saudi oil sector. First, Saudi oil production dropped to 9.12 million barrels per day in 2006 compared to 9.5 million bpd in 2005. Secondly, oil prices rose by 21 percent compared to 39 percent in 2005. The nonoil private sector grew 6.3 percent in 2006 compared to 6.6 percent in 2005, while the oil sector grew at a much slower pace of 17 percent in 2006 compared to 43 percent in 2005.." [more]

~~~~~~~~~ [ Apr 1  ] ~~~~~~~~~

Saudi King Told Ahmadinejad Not To Underestimate U.S. Military [Apr 1]
"Saudi Arabia's King Abdullah told Iranian President Mahmoud Ahmadinejad during their talks in Riyadh on March 4 that he should not underestimate the U.S. military threat to Iran, according to Newsweek. The magazine quoted Foreign Minister Saud Al-Faisal as saying in an interview that the king said Tehran should take the threat of a possible U.S. military strike on Iran over its nuclear enrichment program seriously.." [more]

Saudi Arabia Bans Over 100 Firms From Employing Foreigners [Apr 1]
"Saudi Arabia has banned 107 companies from recruiting foreign workers after they failed to employ a minimum required number of Saudi nationals. The companies facing the ban have 100 or more foreign employees and one per cent or less Saudi workforce, the Labour Ministry said. The statement said twelve of the 107 companies that have been banned from recruiting foreign workers had no Saudi employee and only eight of the companies reached one per cent. The law, approved by the cabinet three years ago, requires companies with 20 or more employees to recruit minimum of 30 per cent Saudis.." [more]

Nervous Times for Diplomacy and Business in the Gulf [Apr 1]
"With the death toll rising in Iraq and the US Navy assembling a mighty force in the Gulf this week, these are tense times for business in the region. However, the rise in government spending in the Gulf States should keep economies on course for economic growth whatever the geopolitical outlook. Economists have commented on many occasions that the exceptional five year upward rise in oil prices has left Gulf oil producers flush with cash that they could use to support their economies through any geopolitical crisis period. However, as regional stock markets have demonstrated recently there are limits to what government support can achieve. For the Gulf stock markets have all crashed with government spending on an upward track.." [more]

Riyadh Grants Citizenship to Sons of Women Married to Non-Saudis [Apr 1]
"Saudi authorities started granting citizenship to sons of Saudi women married to non-Saudis, on condition they are born in the kingdom and have reached adulthood, members of the Shura Council announced yesterday. "This is a great gain and a good thing," Mohammad Al Zulfa, member of Shura Council, told Gulf News. A Saudi press report published in Riyadh yesterday announced the beginning of granting citizenship to thousands of sons of Saudi women married to non-Saudi men if they are born in the country and have reached adulthood.." [more]

Government Spending to Boost Saudi Arabia GDP [Apr 1]
"Economic growth in Saudi Arabia, the largest Gulf Arab economy, could accelerate this year on the back of a projected rise in government spending, Riyadh Bank said in a research report. The kingdom's fifth largest bank by market value expects gross domestic product to grow 4.3 per cent in 2007 compared to 4.2 per cent in 2006. "Government budget spending has been on a roll ... Our forecast for 2007 is $116 billion, up around 11.5 per cent from the previous year," the bank said in the report received yesterday.." [more]

Kingdom and Six Arab States Sign UN Protocol [Apr 1]
"Saudi Arabia, along with other countries, signed on Friday night the Convention on the Rights of Persons with Disabilities and the Optional Protocol opened for signature by states and regional integration organizations at a solemn ceremony at the UN General Assembly hall in New York on Friday. Six Arab states including Algeria, Morocco, Tunisia, Sudan, Syria and Yemen were among more than 80 countries that took part in the signature ceremony.. ..The UN Convention on the Rights of Persons with Disabilities, which was adopted in New York, is the first human rights treaty of the 21st Century, and the UN hopes it will mark a significant improvement in the treatment of disabled people.." [more]

Kibaki Urges Saudis to Invest in Kenya [Apr 1]
"Kenyan President Mwai Kibaki has invited Saudi businessmen to invest in his country and take advantage of the development of the infrastructure and tourism sector in Kenya. The president explored with Saudi businessmen ways to promote bilateral trade between Kenya and Saudi Arabia after attending the two-day 19th Arab Summit which concluded on Thursday. He was accompanied by Kenyan foreign minister and senior officials.. ..The president mentioned some of the incentives given to foreign investors who invest in Kenya such as guarantee against expropriation, repatriation of capital and profit, 100 percent ownership, and permission to carry forward the loss. In addition, he said, additional incentives are given such as immediate input, and a 10-year tax holiday.." [more]

SR3b Housing Project Announced in Riyadh [Apr 1]
"A SR3 billion housing project called Durrat Arriyadh was unveiled at a press conference here Saturday. Built over an area of 3.2 million square meters and expected to be completed by the end of 2008, Durrat Arriyadh is aimed at changing the concept of housing construction, offering more green areas for residents in the desert country, said Engr. Hamza Al-Attas, Director of the Durrat Arriyadh Real Estate Development Company, Ltd, a subsidiary of Dallah Al-Baraka, the sole owners of the project.. ..Durrat Arriyadh, the first of its kind residential project in the Kingdom, is seen addressing the growing demand for housing units in the Saudi capital, whose population is increasing at a rate of 4 percent annually.." [more]

Analysts Expect Increased Gasoline Supplies Will Ease Prices [Apr 1]
"When looking at summer gasoline prices, we like to use the June contract. Historically, a barrel of June gasoline trades 1.31 times higher than the price of crude. Therefore, knowing the barrel price of June crude can help us gauge whether gasoline prices are higher or lower than historical norms. In early February, it was apparent that RBOB (unfinished gasoline) was trading cheap to crude, but since then, the contract has shown strength and gained on the crude contract.. ..Regardless, with refineries now exiting the maintenance season and expectations for crude runs to improve, we may see gasoline prices show weakness on anticipation more product will soon be available.." [more]

[Links were active the day they were posted here.  Some links may expire over time.]