Nov 25 -Dec 1, 2007

~~~~~~~~ [ Dec 1] ~~~~~~~~~

Saudis on High Terror Alert Before Hajj [Dec 1]
"Saudi Arabia's announcement of its largest anti-terror sweep ever was timed ahead of the Muslim Hajj as a warning to those who might be plotting attacks during the pilgrimage, a security official said Thursday. The official, speaking on condition of anonymity because he was not authorized to talk to the media, said the arrests of more than 200 al-Qaida-linked militants was 'a warning' to those who seek to abuse the December event to 'disturb' the pilgrims and to 'damage the image of a forgiving Islam.' The kingdom said Wednesday it had arrested 208 suspected terrorists in six cells.. ..The announcement came less than three weeks before the Hajj, when more than 2 million Muslim pilgrims travel to Saudi Arabia each year.." [more]

Saudi Unsure if Oil Output is to be Raised [Dec 1]
"World oil consumption is set to rise over winter, but it is unclear if OPEC needs to raise output to meet the demand, top world oil exporter Saudi Arabia’s oil minister said on Saturday. Asked whether he expected demand to increase during the winter period, Ali Al Naimi said: 'That is what it normally does, every winter the fourth quarter is always higher than the third quarter.'.. ..But Naimi said he did not know if this means OPEC ministers will agree to raise output when they meet in the UAE on Wednesday. He said, 'That we don't know yet, we have to look at the information.'.." [more]

Saudi Shares Rally in November [Dec 1]
"Saudi shares made strong gains in November on the back of abundant liquidity, as stock markets in other energy-rich Gulf states eased on profit-taking and speculation. The Saudi Tadawul All-Shares Index, which surged 10% in October, rose by 9.8% in November, to close the month on 9,464.40 points.. ..Traders attributed the recovery in the Saudi bourse, the largest in the Arab world, to abundant liquidity.. ..Kuwaiti economist Ali al-Nimesh said trading in the Saudi and other Gulf markets was mostly speculative with the aim of compensating last year’s huge losses.." [more]

National Security Meet Starts Today [Dec 1]
"Crown Prince Sultan will open a conference on technological developments in national security efforts. The four-day conference, titled “Information Technology and National Security,” is being organized by the Presidency of General Intelligence, which is headed by Prince Muqrin. In a statement issued on the eve of the conference, Prince Muqrin said this event would be a historical first in the annals of the Saudi intelligence since the event coincides with the 50th anniversary of the establishment of the Presidency of General Intelligence. A number of experts, researchers, academics and persons concerned with information technology and national security from across the world are slated to participate in the conference.." [more]

No Torture of Detainees – Prince Naif [Dec 1]
"Minister of Interior Prince Naif Bin Abdul Aziz refuted allegations that arrested terrorist suspects are tortured to extract confessions from them. He said this ministry, on the contrary, uses modern scientific methods of interrogation to reach facts. Prince Naif made the statements over the telephone in response to questions posed by Saudi Gazette/Okaz in the wake of last Wednesday's announcement of 208 suspects arrested in a month-long security sweep across the country.. ..Torture is prohibited under Saudi law and international human rights law. In October 1997, Saudi Arabia became a state 
party to the UN Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment, and the convention's provisions became part of Saudi domestic legislation.." [more]

~~~~~~~~ [ Nov 30] ~~~~~~~~~

GCC to Focus on Security, Energy and Foreign Labour [Nov 30]
"Gulf security, energy policies and foreign labour will top the agenda of the talks among the six Gulf leaders at the Summit opening here on Sunday, analysts said. The two-day meeting that will take place on December 3 and 4 will be preceded by ministerial consultations on Sunday that will put the final touches to the programme of the discussions. King Abdullah Bin Abdul Aziz of Saudi Arabia, who boycotted a GCC summit in Qatar in 2002 due a row between the two countries over Al Jazeera's controversial news coverage of Saudi affairs, is now expected to take part in the summit.." [more]

Oil Falls Below $90, Opec Meeting Back in Focus [Nov 30]
"Oil fell to a one-month low below $90 a barrel on Friday as attention returned to next week's Organization of the Petroleum Exporting Countries (Opec) meeting. US crude fell $1.11 to $89.90 a barrel by 1026 GMT, off lows of $89.52, a level not seen since October 31. Brent crude was $1.26 down at $88.96 a barrel. 'Now that we have broken $90, the momentum is starting to go to the downside. Technically, $90 is a really key support level,' said Olivier Jakob of Petromatrix. 'There is room for the downside now. This is more of a structural correction,' he added.." [more]

German Women Lawmakers Write to Saudi King Over Rape Victim [Nov 30]
"Thirty-five German women lawmakers published an open letter to Saudi Arabia's King Abdullah on Friday to protest at the sentencing of a Saudi gang rape victim to six months in jail and 200 lashes. 'We call on King Abdullah to intervene to ensure that the verdict is withdrawn,' the cross-party group of lawmakers said in a statement. German Research Minister Annette Schavan of the conservative Christian Democratic Union was among the signatories.." [more]

Arab Monetary Fund Urges Gulf to Drop Pegs [Nov 30]
"The Arab Monetary Fund has called on Gulf Arab states to drop their pegs to the tumbling U.S. dollar, saying revaluations would not solve the problem of soaring inflation, a Dubai newspaper reported on Friday. Hassem Al-Mannai, chairman of the Arab Monetary Fund, had advised Gulf countries to switch to a managed float or peg their currencies to a basket, including the euro, sterling and yen, Emarat al-Youm reported. The newspaper gave no direct quotation for this. The fund, sponsored by 22 Arab states, is based in Abu Dhabi, capital of the United Arab Emirates.." [more]

216,000 Birds Culled After New Flu Outbreak [Nov 30]
"Saudi Arabia on Thursday moved to destroy 216,000 birds following the discovery of a new outbreak of bird flu, taking the total number of birds culled to nearly four million. 'All necessary measures were taken to cull all birds' in the farm in the Al Kharj region, 80km south of Riyadh, the Saudi Agriculture Ministry said .. ..The ministry said 14 outbreaks of bird flu have been detected since November 12, including the latest among 216,000 birds.." [more]

Fourth Saudi Underground Storage Open [Nov 30]
"Saudi Arabia has opened its fourth underground oil-storage terminal to enable the kingdom to deliver oil products in emergency situations. The facility, inaugurated on November 26, is in the west of the country in Medina, close to the Yanbu refinery on the Red Sea. It is part of the Saudi Strategic Storage Programme.. ..The underground caves can store gasoline, jet fuel and diesel, Saudi Aramco said, without disclosing the size of the facility.." [more]

Kingdom Seeks French Role in 3 Growth Sectors [Nov 30]
"Amr Abdullah Al-Dabbagh, governor of the Saudi Arabian General Investment Authority (SAGIA), has said they are focusing on a marketing strategy based on three strategic sectors: energy, transportation and knowledge-based industries (KBIs) and invited France to participate in them. In an interview on the occasion of the French Technology Exhibition 2007 which concluded recently, the SAGIA Governor said “ we have identified $300 billions worth of investment opportunities, and in transportation and KBIs $100 billions are awaiting investment opportunities in each of those sectors. So we are speaking about a total investment of around $500 billions until 2020.." [more]

~~~~~~~~ [ Nov 29] ~~~~~~~~~

Olmert Warns of End of Israel [Nov 29]
"Olmert has said failure to negotiate a two-state solution with the Palestinians would spell the end of the State of Israel. He warned of a 'South African-style struggle' which Israel would lose if a Palestinian state was not established. Mr Olmert was returning from the Annapolis conference in the US where he and Palestinian leader Mahmoud Abbas pledged to launch formal peace talks.. ..'If the day comes when the two-state solution collapses, and we face a South African-style struggle for equal voting rights, then, as soon as that happens, the State of Israel is finished,'.. ..According to the agreement, the Israeli and Palestinian leaders will meet every other week and teams of negotiators led by a joint steering committee will meet on 12 December.." [more]

Saudi Oil Plants Targeted in Missile Plot [Nov 29]
"Saudi Arabian security forces have arrested about 200 suspected terrorists who were said to be plotting to disrupt the kingdom's oil industry. Saudi authorities said there had been 'pre-emptive' raids on members of extremist cells countrywide. About half of those seized were said to have fought in Iraq. Officials said there were plans to attack oil industry targets and preparations were being made to smuggle missiles into the country.. ..The most serious threat appeared to involve plans to import eight rockets. It was said to have been led by an expert in such attacks who had slipped into the country. Eighteen people were arrested in connection with this alleged plot. Another 22 were part of a group that plotted to assassinate clerics and security forces.." [more]

Saudis Played Key Role Behind the Scenes [Nov 29]
"Much of the spotlight at and credit for Annapolis has gone, quite rightly, to George W. Bush. The first U.S. president to promise a Palestinian state, he has adopted a high-risk strategy.. ..But there has been another remarkable development, mostly behind the scenes. It's the pivotal role being played by Saudi Arabia. The summit simply would not have taken place in the credible manner it did without the Saudis. King Abdullah helped convince Bush that Palestine is one of the main sources of Muslim radicalism, and the best way to wage war on terrorism is to make peace between the Israelis and the 
Palestinians. He also had heavy input into the Annapolis agenda. And he delivered a united Arab front, including Syria. He even got the backing of Israel's Ehud Olmert, principally because of their mutual fear of Iran, a concern shared by Bush.." [more]

Charges Dropped in Case Against Saudi Religious Police [Nov 29]
"A Saudi court has dropped charges against two members of the religious police who had been charged with the death of a man in their custody, local press reported Thursday. Al-Watan newspaper reported that the judge presiding over the case said Wednesday that there was not sufficient evidence against the two religious police members to convict them. The two religious police members were accused of killing Salman al-Aridi after arresting him in May because he allegedly had consumed alcohol.. ..Wednesday's decision was the second in recent months in connection with the powerful force, long resented for intimidating people as it enforces Saudi Arabia's strict version of Islam. In the first case, a Saudi court dropped charges against three members of the religious police and a regular police officer in connection with the death of a man, also in custody, shortly after his arrest in June.." [more]

Saudis See Potential for Influence in Sharif [Nov 29]
"Saudi Arabia blindsided the Bush administration in rapidly returning former Prime Minister Nawaz Sharif to Pakistan Sunday -- a reflection of how regional powers are subtly jockeying for influence in Pakistan as its leadership looks shaky. Saudi Arabia's actions 'surprised' the White House and State Department, said a U.S. official, as Washington hadn't expected Mr. Sharif's return ahead of National Assembly elections scheduled for Jan. 8 in Pakistan. The move came just days after Pakistani President Pervez Musharraf flew to Riyadh to plead with Saudi officials -- including King Abdullah -- not to allow Mr. Sharif's return.. ..U.S. and Pakistani officials said they viewed Saudi Arabia's action as a clear sign that the Middle East power is beginning to position itself for political influence inside Pakistan at a time when Mr. Musharraf's power is ebbing and there are real threats to his continued role in power.." [more]

Saudi Suffering Huge Shortage of Engineers [Nov 29]
"Saudi Arabia is suffering a massive shortage of qualified engineers needed to execute the numerous mega projects the government has planned for the kingdom, the head of a leading university has warned. Abdullah Al-Othman, rector of the Riyadh-based King Saud University (KSU), said on Wednesday the Saudi market is in need for 240,000 engineers but that there are only 110,000 currently employed in the kingdom, of which Saudis make up only 20%.. ..KSU has wrapped up agreements with several world class universities, including the universities in Michigan, California, and Singapore, to upgrade its engineering courses, but wider measures need to be taken if the kingdom is to solve the problem.." [more]

Saudi-US Gathering in Abha Billed a Big Success [Nov 29]
"A Saudi-American gathering tackling educational and economic issues ended in Abha yesterday.. ..Officials explained to the gathering how to get a US visa and the procedures that Saudis need to follow to study in the United States. The deputy of the board of directors the Abha chamber, Muhammad Abdul Aziz Al-Amir, said that many businessmen from the are are willing to invest in US companies. He also said that many students from the region hoped to pursue their education in America. The American delegates said they were surprised with the huge number of people gathered at the event, especially that many women showed up. According to Al-Amir, people of different social and educational backgrounds came to the gathering. On the second day, more than 4,000 people attended.." [more]

Naimi Sees Mismatch in Oil Prices [Nov 29]
"The world oil market is well supplied and fundamentals do not support high prices, Minister of Petroleum and Mineral Resources Ali Al-Naimi said yesterday as OPEC announced a massive investment package over the next five years to boost production. 'There is no relationship between the fundamentals today and the price of oil. There is a mismatch,'.. ..Asked whether Saudi Arabia, the world’s biggest oil exporter, will push for an increase in crude production at OPEC’s meeting next Wednesday, he said the group needed to see data first. 'You are trying to get a premature answer. We need to meet first, we need to look at the data and then decide accordingly,' he said.." [more]

Saudi Stocks Recover After Falling Over 2% [Nov 29]
"The Saudi Stock market recovered yesterday after making its sharpest one-day fall in 11 weeks on Tuesday. The Tadawul All-Share Index (TASI) increased 96.53 points to close at 9,464.40. The index plunged over 2 percent on Tuesday. The market was in a positive mood as shares of only nine companies were down while shares of 77 companies increased. The stock market turnover was at SR7.79 billion.." [more]

~~~~~~~~ [ Nov 28] ~~~~~~~~~

Saudis Back New Peace Drive, Shun Israel Call for Ties [Nov 28]
"Saudi Arabia backed Tuesday's launch here of a new Middle East peace drive, but shunned Israel's call for the Arab world to normalize ties with it even before a deal with the Palestinians. 'We have come to support the launching of serious and continuing talks between the Palestinians and the Israelis that will address all the core and final status issues,' Saudi Foreign Minister Prince Saud al-Faisal said in a statement to the peace conference in Annapolis, Maryland.. ..Saudi Arabia, a principal patron of the Palestinians and an influential voice in the Muslim world, demanded Israel take concrete step towards ending the occupation of the Palestinian territories and making peace.. ..After reluctantly yielding to US pressure to attend the conference, the Saudis offered a cold shoulder to Israeli Prime Minister Ehud Olmert's call for the Arab world to normalize ties with the Jewish state even before a peace deal is clinched. 'Normalization happens after there is peace,'.." [more]

Saud Distances Government From Rape Ruling [Nov 28]
"A senior Saudi official has sought to distance his government from a court's decision to sentence a woman who was gang-raped to 200 lashes. 'Unfortunately, these things happen. Bad judgments occur in legal systems,' Saudi Foreign Minister Prince Saud Al Faisal told reporters while in Washington to attend a Middle East peace conference in Maryland. The case has drawn international attention and stirred criticism from human rights groups and US officials.. ..Faisal said the judgement was being used to vilify the Saudi government even though it was not responsible because the courts are independent.." [more]

Saudi Riyal Hits 21-Year High [Nov 28]
"The Saudi Arabian riyal hit a 21-year high and the Qatar riyal a five-year high after a Dubai-based magazine said the United Arab Emirates could allow the dirham to appreciate 3 to 5 percent as early as Sunday. Bids on the dollar-pegged Saudi riyal were as high as 3.6900 per dollar, the strongest since 1986, and bids on the Qatar riyal hit 3.6250 per dollar, the highest since November 2002.." [more]

Saudi Unlikely to Depeg From Dollar [Nov 28]
"Two events next month could trigger more pressure on the Saudi riyal: The postpone of the planned introduction of a GCC single currency and the US Fed cut of the interest rates by another 25 basis points; however, ending the Saudi Riyal peg to the dollar is unlikely, said a leading economist at a major Saudi investment firm. Brad Bourland, chief economist and researcher at Jadwa Investment, said that the costs of altering the peg greatly outweigh the benefits for the moment particularly as imported inflation is an insignificant part of the current inflation story in Saudi Arabia.." [more]

Chinese Firms Win $443mn Saudi Port Deal [Nov 28]
"Two Chinese companies have won contracts to construct the massive third terminal at Jeddah Islamic Port (JIP), Saudi Arabia’s oldest and largest port. Saudi Trade and Export Development Company (Tusdeer) signed a deal on Monday with China Harbour Engineering Company (CHEC) to build the ‘Red Sea Gate’ terminal over 22 months, beginning in January 2008. The new terminal will be built based on designs made by the British engineering consultancy Halcrow and is scheduled to begin operating fully in the fourth quarter of 2009. Designed to handle 1.5 million containers annually, it will increase the port’s overall capacity by 45%.." [more]

Saudi Based Developer Dar Al Arkan in $8.1bn IPO [Nov 28]
"Saudi based property developer Dar Al Arkan will float in December in an initial public offering thought to be worth $8.1 billion. A spokesman for the IPO lead company said the shares would be offered at 56 Saudi Riyals each and open only to Saudi investors. The offer, which will see 59.45 million shares (11.01 per cent of the company) sold, begins on Saturday, December 1.." [more]

HRC: Kingdom to Change Sponsorship Law Soon [Nov 28]
"Saudi authorities are currently looking into ways of changing the Kingdom’s sponsorship law, which would see private companies being given sponsorship rights in place of individual citizens, said Saudi Arabia’s governmental Human Rights Commission (HRC).. ..Al-Sudairi said he supports the change in law, which would bring an end to the existence of sponsors. 'I support it. I think it would be better and easier for laborers and for the country,' he said. The top HRC official said that the Ministry of Labor, in an attempt to create awareness among foreign workers of their responsibilities, duties and labor rights, has already begun issuing pamphlets to foreign workers arriving in the Kingdom.." [more]

Overseas Investments of Arabs Reach $1.7 Trillion [Nov 28]
"The Arab region’s overseas investments reached $1.7 trillion and the sovereign wealth funds are set to rise to $20 trillion by 2020, an expert told energy sector meeting yesterday.. ..'The sustainable returns on investments of sovereign funds will essentially enhance the GDP which will directly usher in a new era of prosperity and development. These assets can be used to mobilize more resources which can help to reduce the poverty in any economy.'.." [more]

We’ve the Same Dreams as Women Everywhere [Nov 28]
"Women driving, the hijab, education, Islam and other cultural and religious matters were part of an animated discussion between a group of 25 American educators and Saudi women yesterday at Effat College. 'We want the world to know that we’re not terrorists,” said Maha Juffali, director and supervising trustee of Help Center, a philanthropic non-profit organization dedicated to the welfare of children with mental disabilities. “Women are the same everywhere. We have the same dreams and aspirations for the future.' Saudi Aramco hosted the group of teachers, specialists and directors from various educational institutions in the US.. ..they stated their interest in knowing more about Saudi Arabia to uncover the reality behind many misconceptions and learn about women’s role in Saudi society.." [more]

~~~~~~~~ [ Nov 27] ~~~~~~~~~

Saudis Hold Key Role in Today's Gathering on Mideast [Nov 27]
"..the Bush administration that is courting Abdullah's support for an international initiative, to be launched today in Annapolis, Md., that US officials hope will reopen the chances for a comprehensive peace. The United States badly needs the help of Saudi Arabia and other Arab allies to bolster the weak, fledgling government in Iraq and to counter the rising threat of Iran, a Shi'ite Muslim neighbor that US officials believe is trying to build a nuclear weapon. Many analysts see the new regional context as the real reason behind the Bush administration's change of heart about involving itself in the struggle to solve the Israeli-Palestinian conflict.." [more]

What the Saudis Want From Annapolis [Nov 27]
"Foreign Minister Saud Al-Faisal tells TIME magazine that he is optimistic about this week’s Middle East peace conference in Annapolis because of what he calls US determination “to see this through.” Continuous US mediation in post-conference negotiations, including pressure on Israel, he says, “can turn things around” and lead to a comprehensive settlement before US President George W. Bush’s term expires in 13 months. But, speaking in Paris to Time correspondent Scott MacLeod just hours before his scheduled arrival in the US, Prince Saud warned Israelis that they would have no peace until Israel withdrew from Arab territories captured in the 1967 war. Saud, who will be the highest ranking Saudi to ever attend a peace conference with the Jewish state.." [more]

Oil Falls More Than $3 on Increased Saudi Arabian Production [Nov 27]
"Crude oil fell more than $3 a barrel in New York after Saudi Arabia's oil minister, Ali al-Naimi, said the country has increased production to the highest this year. Saudi Arabia, the biggest producer in the Organization of Petroleum Exporting Countries, is pumping 9 million barrels a day, al-Naimi said in Singapore today. Prices also fell on speculation that slower economic growth in the U.S. and Europe will cut fuel consumption.." [more]

Saudi FM Says Rape Victim Sentence Under Review [Nov 27]
"Saudi Arabia's foreign minister said the kingdom's judiciary was reviewing a sentence of six months in jail and 200 lashes handed down to a gang rape victim, official media said on Tuesday. 'There is currently a review process being carried out into the ruling by the judicial system,' the SPA news agency quoted Prince Saud al-Faisal as telling reporters from the US-hosted Middle East peace conference. The sentence against the 19-year-old girl in the ultra-conservative Muslim state has attracted widespread international condemnation, including from human rights groups and the White House. 'What is aggravating in this matter is that individual acts like these are used to attack the Saudi people and its government," [more]

Iran Raps Saudi Over Annapolis [Nov 27]
"Iranian President Mahmoud Ahmadinejad chided Saudi Arabia for taking part in a US-hosted Middle East peace meeting, after Arab participation in the event left Tehran isolated, media reported yesterday. Ahmadinejad bluntly told Saudi King Abdullah in a telephone conversation that he wished the kingdom was not attending the conference alongside Israeli and Palestinian leaders starting today in Annapolis outside Washington.. ..'Arab countries should be watchful in the face of the plots and deception of the Zionist enemy,' he added. Iran – which has made non-recognition of Israel one of its main ideological themes – has been left isolated by the attendance at the meeting of its chief regional ally Syria as well as Saudi Arabia.." [more]

SembMarine to Set Up Shipyard in Saudi Arabia [Nov 27]
"SembCorp Marine has set up a joint venture to start a shipyard in Saudi Arabia. This will be its first investment in the Middle East. SembMarine will invest US$6.6 million for a 60 percent stake in the venture to build, own and operate a floating dock for shipbuilding and ship repair. The remaining stake will be held by its Saudi Arabian partner.. ..It will be fully operational by 2009. Besides Singapore, SembMarine has yards in Indonesia, China, Brazil, the US and India.." [more]

Saudi Authorities Finalise Haj Plans [Nov 27]
"Various authorities in Saudi Arabia began their final round of meetings to put finishing touches to this year's plans for the Haj season. This year the pilgrimage season will end on December 23.. ..More than 60,000 security men would take part in maintaining security this year, Major General Mansour Al Turki, Saudi interior ministry security spokesman, told Gulf News. He said the Saudi government is concerned about the security and safety of the pilgrims, and wants to ensure that they perform their ritual in peace and return to their respective countries safely.." [more]

UK Schools Seek Saudi Students [Nov 27]
"A group representing 42 UK universities is touring Gulf Cooperation Council countries to promote UK higher education. EDUKEX 2007 began its tour of the region on Nov. 17 in Abu Dhabi before moving on to Dubai and is currently in Saudi Arabia. EDUKEX 2007 will take place in Jeddah for three days beginning at 4 p.m. today on the British Council premises in the Farsi Center. 'The exhibition is being held in Saudi Arabia for the second time,' said William Patey, British ambassador to the Kingdom. 'In the UK there are already around 10,000 students from the region studying at British universities, and we are hoping as a result of this exhibition to encourage more students to join our institutes. The 
attendance is noticeable.'.." [more]

More Bird Flu Cases at Saudi Poultry Farm [Nov 27]
"More cases of a deadly strain of bird flu have been found at a poultry farm in Saudi Arabia just weeks before the Muslims flock to Mecca for the annual haj pilgrimage, the Ministry of Agriculture said on Monday. A statement published on the official Saudi Press Agency said all birds at the farm at Al Kharj, 150 km south of Riyadh, were culled on Thursday after the H5N1 strain was found there. It gave no more details.." [more]

~~~~~~~~ [ Nov 26] ~~~~~~~~~

Arab Stand Unchanged [Nov 26]
"The Arab League’s participation in the upcoming US- hosted Middle East peace conference does not signal a change in the Arab position nor does it mean that normalization with Israel is unconditional, League chief Amr Moussa said yesterday. Speaking to the press at Cairo’s international airport before departing for the US at the head of a League delegation, Moussa said there would be no normalization of relations with Israel 'unless it’s in the context of comprehensive peace'.. ..Arab leaders agreed in March to relaunch the 2002 Arab initiative, designed by Saudi Arabia, which promises normalization with Israel and Arab recognition of the Jewish state in return for a full Israeli pullout from the Palestinian territories occupied in 1967, including Jerusalem, and a withdrawal from the Golan Heights in Syria and some territories in southern Lebanon.." [more]

Iran Rebukes Saudi Arabia Over Mideast Conference [Nov 26]
"Iranian President Mahmoud Ahmadinejad has chided Saudi Arabia for taking part in a US-hosted Middle East peace meeting, after Arab participation in the event left Tehran isolated, media reported on Monday. Ahmadinejad bluntly told Saudi King Abdullah in a telephone conversation that he wished the kingdom was not attending the conference alongside Israeli and Palestinian leaders starting on Tuesday in Annapolis, Maryland. 'I wish the name of Saudi Arabia was not among those attending the Annapolis conference,' Ahmadinejad told the king late Sunday, according to state news agency IRNA. 'Arab 
countries should be watchful in the face of the plots and deception of the Zionist enemy,' he added.." [more]

Saudi Rape Victim Having Affair [Nov 26]
"Saudi justice officials say a woman who was sentenced to prison and flogging after she was gang-raped has now confessed to an extramarital affair.. ..The justice ministry statement rejected 'foreign interference' in the case. It insisted the ruling was legal and that the woman had 'confessed to doing what God has forbidden'. The statement carried by the official press agency late on Saturday said the sentence would be carried out in accordance with Saudi law.. ..Several governments and human rights groups have condemned her sentence and urged it to be lifted. Canada described it as 'barbaric'. The US, a major Saudi ally, declined to condemn to sentence, but did call it 'astonishing'.." [more]

Huckabee: America Enslaved to Saudi Oil [Nov 26]
"Consumers are financing both sides in the war on terror because of the actions of U.S. ally Saudi Arabia, Republican presidential hopeful Mike Huckabee said Sunday. The former Arkansas governor made the comments following what he suggested was a muted response by the Bush administration to a Saudi court's sentence of six months in jail and 200 lashes for a woman who was gang raped. 'The United States has been far too involved in sort of looking the other way, not only at the atrocities of human rights and violation of women,' Huckabee said on CNN's 'Late Edition.' 'Every time we put our credit card in the gas pump, we're paying so that the Saudis get rich — filthy, obscenely rich, and that money then ends up going to funding madrassas,' schools 'that train the terrorists,' said Huckabee. 'America has allowed itself to become enslaved to Saudi oil. It's absurd. It's embarrassing.'.." [more]

China's Chalco to Pay 1.2 bln usd for 40 Percect of Saudi Aluminum Smelter [Nov 26]
" China's top aluminum producer, will spend 1.2 bln usd to take a 40 pct stake in an aluminum smelter joint venture in Saudi Arabia with Malaysia's MMC Corp and Saudi Binladin Group, China's Ministry of Commerce said. The venture will export some products to China.. ..Construction of the plant, located in Jazan, Saudi Arabia, is slated to start next year, the ministry said. The smelter will be built in three phases.." [more]

1,500 Extremists Released by Saudi [Nov 26]
"Saudi Arabia has released 1,500 reformed extremists who had been detained on charges of embracing and spreading takfeer, an ideology branding other Muslims as apostates in order to legitimize violence against them. The 1,500 were among 3,200 militants with whom a government-appointed 'counseling committee' met around 5,000 times as part of their rehabilitation.. ..'After several graded sessions with the committee, and having been convinced of their misguided vision, they renounced their erroneous ideologies, including the concept of driving out all infidels from the Arabian Peninsula,'.. ..The paper 
did not clarify if the remaining 1,700 militants had refused to renounce the ideology of takfeer.." [more]

Suicide Cases on the Rise Among Expats [Nov 26]
"Suicide cases in Saudi Arabia are on the increase. The Health Ministry reported recently that at least 266 people, including expatriates, took their own lives in 2006. During the same period, 295 were murdered.. ..Expatriates accounted for 77 percent of suicides last year with Indians (203) taking 43 percent, followed by Bangladeshis (155), Pakistanis (141), Yemenis (102) and Egyptians (97). 'Of the total deaths last year, 957 or 50.1 percent were not natural and suicides represented 27 percent of such deaths,' the report said, adding that the reasons for 93 deaths were not known. The ministry pointed out that 79 percent of people (212) who committed suicide were men.." [more]

Saudi Stocks Keep Upward Momentum [Nov 26]
"The Saudi stock market continued to rise on the second day of trading this week. The Tadawul All-Share Index (TASI) closed 16.54 points higher at 9,649.93. The index is higher by 21.64 percent so far this week after falling over 52 percent last year. As the stocks showed upward trend, analyst Fahd Al-Salman said the total value of stocks that were transacted on Saturday was very high. 'This again reflects the strength of the Saudi stock market and its determination to make further gains,' he said and added that he expected a considerable rise in the Saudi stock index in the coming days.." [more]

Abdullah Calls for Understanding Among Faiths [Nov 25]
"Custodian of the Two Holy Mosques King Abdullah yesterday called upon the followers of different faiths to uphold their shared values to promote world peace and understanding. 'If different communities and cultures would turn to their great principles (taught by their religions) then they would find many things that bring them closer, keep them away from conflicts and improve their human qualities,' the king said. King Abdullah made this comment while receiving Chief Executive of World Economic Forum Klaus Schwab and Middle East Director Sherif El-Diwany. He also stressed that corporate as well as individual activities should be based on moral values that create perfect human beings.." [more]

~~~~~~~~ [ Nov 25] ~~~~~~~~~

King Abdullah II Heads to Saudi Arabia [Nov 25]
"His Majesty King Abdullah II headed to Saudi Arabia on a few-hour visit to meet with the Saudi Monarch King Abdullah Ben Abdul Aziz. The two leaders will discuss the current exerted efforts to achieve a unified Arab stand before the Annapolis peace meeting which will be held next Tuesday. The two leaders will also discuss bilateral cooperation and means of further enhancing them in the various fields. The visit comes within the framework of the King's coordination with the Arab leaders ahead of Annapolis peace meeting.." [more]

Kingdom to Restructure Intelligence Operations [Nov 25]
"Saudi Arabia’s intelligence operations are set to undergo restructuring to cope with international information challenges, head of the Saudi Intelligence Prince Muqrin said yesterday at a press conference held to announce an upcoming national security conference. Under the new system he said, 'Saudi Intelligence will compete with international intelligence agencies ... This requires that we restructure our work to cope with global information and knowledge.' The prince announced details of the international symposium, which will take place on Dec. 1-4.. ..'Our research has shown that the 
world in the new millennium is moving toward space security,' he said, adding that it was important for Saudi Arabia to be a 'participant' rather than a 'consumer' in information technology relating to national security.." [more]

Aramco Splashes $1.49bn to Revamp Distribution [Nov 25]
"Oil giant Saudi Aramco said on Saturday it has signed 5.6 billion Saudi riyals ($1.49 billion) worth of contracts with local fuel transportation companies to enhance its distribution network in Saudi Arabia. The 10-year contracts for fuel transportation will cover the delivery of Saudi Aramco refined fuel to and from 37 distribution centres across the kingdom, including the company’s distribution centres at all major Saudi airports.. ..Saudi Aramco has a complete monopoly over fuel distributions in the Kingdom as it owns and operates the kingdom’s nationwide petroleum product distribution network. Saudi Aramco’s executive manager for distribution Ahmad Al-Seidi said in a statement that his company aims to provide more opportunities for local transportation companies with the new contracts.." [more]

GCC States Urged to Sue Tobacco Companies [Nov 25]
"A senior Gulf Cooperation Council health official has urged the member states to follow the example of Saudi Arabia in suing tobacco companies. Dr Tawfiq Khoja, Director General of the executive bureau of the Gulf Cooperation Council (GCC) Council of Health Ministers underlined that the GCC health ministers reject the twisted practices followed by tobacco companies to market and promote their products such as the holding of exhibitions and taking part in sports competitions.. ..In March the Saudi Health Ministry announced that the high court in Riyadh accepted reviewing of a lawsuit filed by the ministry against representatives of 14 tobacco-producing companies in the kingdom. The ministry is demanding 10 billion riyals (about Dh9.9 billion) in compensation, saying that the ministry has spent a billion riyals in treating smoking-related diseases.." [more]

10 Percent of 5.6 Million Tourists in Dubai are Saudis [Nov 25]
"As high as 10 per cent of the total number of 5, 600, 000 tourists who visited Dubai last year were Saudis, the Tourism and Marketing Department in Dubai has estimated. The number of Saudi tourists who visited Dubai last year was 600, 000, said the executive manager for operations at Dubai Shopping Festival, Ibrahim Salih in Riyadh on Saturday, according to the Saudi Press Agency. He lauded the strong relations that link peoples of the Kingdom of Saudi Arabia and the UAE.." [more]

Kingdom’s 4th Strategic Oil Storage Facility Set [Nov 25]
" Saudi Arabia’s fourth strategic petroleum storage facility is now ready in Madinah. Prince Abdul Aziz ibn Majed, governor of the region, will open the facility tomorrow on behalf of Crown Prince Sultan, chairman of the Saudi Strategic Storage Program (SSSP). The Madinah storage site was formally handed over to Saudi Aramco in February this year. As many as four million metric tons of rock have been removed to establish the facility whose underground tunnel has a length of 30 kms. Some 130,000 steel bars, 600,000 metric meters of reinforced concrete, 70,000 tons of iron, 150 kms of pipes, 3,000 kms of electric cables and 177 kms of optical fiber cables have been used to build the facility.." [more]

Alfaisal Academy Forges Alliance With Canadian Institute to Train Teachers [Nov 25]
"Alfaisal International Academy here has signed a strategic alliance with GlobalVillage of Canada to train Saudi and non-Saudi teachers for handling English language and science courses in government and international schools as well as for private tutoring. The new measure by the academy, a member of the Arabian Education and Training Group (AETG), comes on the backdrop of some major initiatives launched by the Kingdom that would see Alfaisal University up and running in Riyadh by next year and King Abdullah University for Science and Technology in 2009. The thrust of the educational reforms is also on bringing about a qualitative change in the teaching methods and paying greater attention to English language in the school curriculum.." [more]

Nov 18 -Nov 24, 2007

~~~~~~~~ [ Nov 24] ~~~~~~~~~

US Welcomes Saudi Summit Pledge [Nov 24]
"US officials have welcomed the decision by Saudi Arabia to attend next week's Middle East peace conference at Annapolis in the US. 'This is a signal that they believe this will be a serious and substantive meeting,' the US state department said. Speaking at an Arab League meeting in Cairo, the Saudi foreign minister said he would go but ruled out a 'theatrical show' with Israeli officials.. ..Prince Saud confirmed his attendance but admitted there had been opposition. 'I'm not hiding any secret about the Saudi position. We were reluctant until today. And if not for the Arab consensus we felt today, we would not have decided to go,' he said.." [more]

Saudi, Jordan Kings to Meet Ahead of US Conference [Nov 24]
"The kings of Saudi Arabia and Jordan will meet in Riyadh on Sunday, two days before a Middle East peace conference in the United States which their countries will attend, official media said Saturday cited by AFP. Jordan's King Abdullah II will visit Riyadh for talks with King Abdullah of Saudi Arabia on "regional and international issues of common concern," in addition to ties between their two countries.. ..It did not give details, but the planned meeting precedes the conference aimed at reviving stalled Israeli-Palestinian peace negotiations which will be held in Annapolis, Maryland on Tuesday.." [more]

Saudi Cuts Key Deposit Rate as Markets Test Dollar Peg [Nov 24]
"Saudi Arabia cut some borrowing costs on Saturday to relieve pressure on its dollar-pegged currency that has mounted on growing bets Riyadh will allow the riyal to appreciate, bankers said. The Saudi Arabian Monetary Agency (SAMA), the central bank of the world's largest oil exporter, reduced the reverse repurchase rate by 50 basis points to 4.25 percent, three bankers in Saudi Arabia and the United Arab Emirates said.. ..'They are doing this to calm down the market and prevent speculation on the local currency,' said John Sfakianakis, chief economist at SABB, HSBC's Saudi affiliate. 'Investors will find it less attractive to hold deposits in riyal,' he said. The Saudi riyal hit a 21-year high on Thursday of 3.70 and investors are betting on an appreciation of as much as 3.2 percent appreciation in the riyal in a year.." [more]

Saudi Financial System in an Era of Change [Nov 24]
"..the woes in international financial markets might induce more Saudi investors to repatriate funds to safer havens in terms of returns and the Saudi banks continue to report increase in their deposits. As such, their ability to fund Saudi or regional projects on a co-financing basis, will not be affected by the global credit crunch. What could affect them is a perceptible and sharp recession in the US that will lead to lower demand for Saudi oil and petrochemical exports, leading to domestic tightening of credit allocation to non-prime borrowers.." [more]

Seasonal Workers Descend in Droves [Nov 24]
"The Haj is known to be the world’s largest annual gathering, where millions of Muslims come to fulfill their religious obligation. But the Haj brings another kind of pilgrim, too: the seasonal worker.. ..City officials estimate that at least 25,000 additional jobs are created during the Haj season, many of them as guides and drivers for the Tawafa organizations, the licensed Haj guilds. Other jobs include street vendors and municipal cleaners.." [more]

7 Million People Covered in Drive Against Measles [Nov 24]
"A senior Health Ministry official announced yesterday that 7.1 million people in the age group of nine months to 18 years were covered by the massive vaccination drive against measles that ended on Wednesday.. ..In accordance with the comprehensive national plan set out by the GCC Health Ministers Council in conjunction with the World Health Organization (WHO), the ministry is determined to wipe out measles from the Kingdom by 2010, according to Mishkas. Mishkhas said that measles was eradicated in the Americas in 2000 and that Europe and the Eastern Mediterranean have set 2010 as the time limit for eradication. The Western Pacific has fixed a 2012 target.." [more]

~~~~~~~~ [ Nov 23] ~~~~~~~~~

Saudis to Attend Mideast Conference [Nov 23]
"Saudi Arabia's foreign minister said today he would attend a conference to restart talks on ending the Palestinian-Israeli conflict. Prince Saud al-Faisal made the announcement at a news conference which followed an Arab League meeting in Cairo. Asked if Saudi Arabia would attend the Annapolis talks on a ministerial level, Prince Faisal said: 'As long as there is an Arab consensus to attend, and at the ministerial level, then the kingdom will follow the attendance and the Arab consensus in this context.' Saudi Arabia and Israel have no diplomatic ties, but an Israeli government spokeswoman welcomed the participation of Prince Faisal.. ..The influential Saudis add credibility to any future deal among Palestinians, and Israeli Prime Minister Ehud Olmert will be able to say a deal holds out the prospect of wider peace with the Arab world.." [more]

Sovereignty of All Countries Must Be Respected: Sultan [Nov 23]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, was awarded yesterday an honorary doctorate at the prestigious Moscow State University of International Relations University in appreciation of his efforts to promote international cooperation and security.. ..Reiterating the Saudi policy of nonintervention in the affairs of other countries, the prince said: 'The Kingdom has adopted its foreign policy based on the sovereignty of all countries and nonintervention in the internal affairs of other countries.' After receiving the doctorate, Prince Sultan underscored the close cooperation between the Kingdom of Saudi Arabia and the Russian Federation.." [more]

Riyadh to Compensate Poultry Firm Owners [Nov 23]
"Saudi Arabia announced that it would compensate owners of poultry farms whose birds were culled on suspicions of catching the deadly bird flu virus. 'In line with the directives of the Council of Ministers, the government will pay 80 per cent of the losses [incurred] by owners of poultry farms,' Minister of agriculture Fahd Balghunaim said in statements yesterday. The authorities said more than 3 million birds have been culled so far to contain the spread of the H5NI virus.. ..He noted that the disease is still confined to limited areas as the kingdom has more than 341 poultry farms, with only 108 located 
in the Riyadh region.." [more]

Saudi Arabia's Tadawul Gains 1,360 Points in Four Weeks [Nov 23]
"The Saudi stock market has gained around 1,360 points or 17 per cent in the last four weeks. The Tadawul All Share Index started this week with a slight drop shedding about 130 points or 1.4 per cent. The index, however, recovered to close at 9,518.87 points on Wednesday, the last trading day of the week. It ended up 2.7 per cent from last week. Trading value reached 49.8 billion Saudi riyals, up from last week's 45.3 billion riyals.. ..The Tadawul index has seen a steady rise of 22 per cent since October 6 backed by the positive performance of listed companies.." [more]

Saudi Rape Victim to Appeal Verdict [Nov 23]
"A Saudi woman sentenced to six months in jail and 200 lashes despite being gang-raped has vowed to challenge the ruling in a case that has received wide publicity, embarrassing the Saudi government. The case 'sums up the major problems that the Saudi judiciary faces,' said the young woman’s lawyer, Abdurrahman al-Lahem.. ..After the rape in October 2006, she was sentenced to 90 lashes for having been in a car with a man who is not a relative. The Higher Judicial Council granted a retrial but, on November 14, a court toughened her sentence to six months in jail and 200 lashes. The judges decided to punish the woman further for “'her attempt to aggravate and influence the judiciary through the media,'.." [more]

Lashing Saudi Rape Victim an Outrage: Clinton [Nov 22]
"Hillary Clinton, the Democratic presidential front-runner, yesterday called on George W. Bush, the U.S. President, to express disapproval at the sentence of 200 lashes and six months in prison meted out to a Saudi rape victim. 'This is an outrage,' she said in a statement, condemning the Bush administration for declining to call for a reversal of the sentence on the grounds it was an internal matter for its Saudi ally. 'I urge President Bush to call on King Abdullah to cancel the ruling and drop all charges against this woman. As president, I will once again make human rights an American priority around the world.'.." [more]

Blair Meets Saudi King [Nov 22]
"Saudi King Abdullah has met with Middle East peace envoy Tony Blair, the state news agency SPA said, amid a flurry of diplomatic activity ahead of an international conference in the United States.. ..Blair flew into Saudi Arabia from Egypt, where he discussed with Egyptian President Hosni Mubarak 'ways of reviving the peace process ahead of the international conference' next week.. ..US officials say the meeting will launch the first full-fledged Israeli-Palestinian peace negotiations since former president Bill Clinton tried to broker a final settlement near the end of his presidency in 2000. Arab foreign ministers are due to meet in Cairo to decide on their participation in Annapolis. Despite its close ties with Washington, oil-rich Saudi Arabia has declined to confirm its attendance at the meeting unless the core issues of the Arab-Israeli conflict are addressed.." [more]

Russia Can Play Vital ME Role: Sultan [Nov 22]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, arrived here yesterday at the start of a landmark visit and stated that Russia can play a vital role in bringing about a just and comprehensive Middle East peace settlement.. ..He said cooperation between Saudi Arabia and Russia, being the world’s largest oil producers, would have a great impact in stabilizing the world oil market. 'Achieving world oil market stability is a joint responsibility of producers and consumers,'.. ..The three-day royal visit reflects growing relations between Riyadh and Moscow. According to diplomatic sources, the visit will strengthen Saudi-Russian military cooperation. Sultan is accompanied by a high-level delegation.." [more]

Nationality Plays Strong Role in Who Gets Freed From Guantánamo [Nov 22]
"In May 2006, the U.S. military delivered the news that Ali Muhammed Nasir Mohammed was desperate to hear: He was heading home from the prison at Guantánamo on the next plane to Saudi Arabia. There was just one problem. Mohammed is from Yemen. When he explained the mistake, the plane left without him. He remained in his cell for 18 months. Mohammed's case highlights the powerful role of nationality in determining who is released from Guantánamo. Saudi Arabia, a wealthy, influential U.S. ally, has seen more than 100 of roughly 130 citizens return home from Guantánamo, including dozens a military review panel found were security threats. But Yemen, a poor country that lacks close ties to Washington, has had only 13 of about 110 citizens repatriated, including the body of one who committed suicide.." [more]

~~~~~~~~ [ Nov 22] ~~~~~~~~~

Lashing Saudi Rape Victim an Outrage: Clinton [Nov 22]
"Hillary Clinton, the Democratic presidential front-runner, yesterday called on George W. Bush, the U.S. President, to express disapproval at the sentence of 200 lashes and six months in prison meted out to a Saudi rape victim. 'This is an outrage,' she said in a statement, condemning the Bush administration for declining to call for a reversal of the sentence on the grounds it was an internal matter for its Saudi ally. 'I urge President Bush to call on King Abdullah to cancel the ruling and drop all charges against this woman. As president, I will once again make human rights an American priority around the world.'.." [more]

Blair Meets Saudi King [Nov 22]
"Saudi King Abdullah has met with Middle East peace envoy Tony Blair, the state news agency SPA said, amid a flurry of diplomatic activity ahead of an international conference in the United States.. ..Blair flew into Saudi Arabia from Egypt, where he discussed with Egyptian President Hosni Mubarak 'ways of reviving the peace process ahead of the international conference' next week.. ..US officials say the meeting will launch the first full-fledged Israeli-Palestinian peace negotiations since former president Bill Clinton tried to broker a final settlement near the end of his presidency in 2000. Arab foreign ministers are due to meet in Cairo to decide on their participation in Annapolis. Despite its close ties with Washington, oil-rich Saudi Arabia has declined to confirm its attendance at the meeting unless the core issues of the Arab-Israeli conflict are addressed.." [more]

Russia Can Play Vital ME Role: Sultan [Nov 22]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, arrived here yesterday at the start of a landmark visit and stated that Russia can play a vital role in bringing about a just and comprehensive Middle East peace settlement.. ..He said cooperation between Saudi Arabia and Russia, being the world’s largest oil producers, would have a great impact in stabilizing the world oil market. 'Achieving world oil market stability is a joint responsibility of producers and consumers,'.. ..The three-day royal visit reflects growing relations between Riyadh and Moscow. According to diplomatic sources, the visit will strengthen Saudi-Russian military cooperation. Sultan is accompanied by a high-level delegation.." [more]

Nationality Plays Strong Role in Who Gets Freed From Guantánamo [Nov 22]
"In May 2006, the U.S. military delivered the news that Ali Muhammed Nasir Mohammed was desperate to hear: He was heading home from the prison at Guantánamo on the next plane to Saudi Arabia. There was just one problem. Mohammed is from Yemen. When he explained the mistake, the plane left without him. He remained in his cell for 18 months. Mohammed's case highlights the powerful role of nationality in determining who is released from Guantánamo. Saudi Arabia, a wealthy, influential U.S. ally, has seen more than 100 of roughly 130 citizens return home from Guantánamo, including dozens a military review panel found were security threats. But Yemen, a poor country that lacks close ties to Washington, has had only 13 of about 110 citizens repatriated, including the body of one who committed suicide.." [more]

Jihad and the Saudi Petrodollar II [Nov 22]
"BBC Middle East analyst Roger Hardy investigates Wahhabism, Saudi Arabia's austere brand of Islam, which is accused by its critics of funding religious extremism. In the second of his two-part series, he meets top US investigators who have had the frustrating task of finding out where Saudi cash ended up.. ..In 2004, at a joint press conference in Washington, the US and Saudi governments announced the closure of five branches of a prominent Saudi charity, al-Haramain. Eventually 10 branches - stretching from the Netherlands to Indonesia - were designated "financiers of terrorism" and shut down.. ..The Saudi ambassador to Washington, Adel Jubeir, told me the kingdom was not responsible for the overseas branches of its charities.." [more]

Bahrain May Opt for Saudi Riyal in GCC Shift [Nov 22]
"Oman could keep its rial pegged to the tumbling US dollar and Bahrain may choose to fix its dinar to the Saudi Arabian currency if their Gulf neighbours decide to abandon dollar pegs, Citigroup said yesterday. Expectations that Gulf countries will reform fixed exchange rates has mounted in the past week after the UAE central bank governor said he could track a basket of currencies in concert with Gulf neighbours to help contain inflation. The Saudi Arabian riyal hit a 21-year high this week after a source familiar with Saudi policy said that Riyadh could consider a revaluation to keep plans for monetary union with five other Gulf states alive. The source said Bahrain, Qatar, the UAE and Saudi Arabia - but not Oman - could shift together to a common fixed exchange rate against the dollar to 'facilitate monetary union'.." [more]

Saudi Demand for Expat Workers Soars [Nov 22]
"Saudi Arabia's Ministry of Labour has said that it has issued 878,737 working visas in the first nine months of 2007 showing a 57% increase from a year earlier, the Saudi Press Agency reported on Wednesday. The ministry, which uses the Islamic calendar, said that number of visas issued in the month of Ramadan (which started on Sept.12) for this year was 90,619 visas, signaling a 104% increase over the same month a year earlier. The ministry said that 50% of the working visas issued in Ramadan were for engineering professions. Services professions came next with 25% present and all other professions shared the remaining 25%.." [more]

Al Shaer Wins Big Contract to Expand Saudi Airport [Nov 22]
"Saudi Arabia has awarded Al Shaer Engineering a five-year contract worth 256 million Saudi riyals to expand the King Abdul Aziz Airport. The project seeks to raise the airport's capacity to 30 million passengers a year in the first phase. Al Shaer will also construct facilities to allow big jets such as the A380 superjumbo to land and dock at the airport. The latest contract is part of a 112 billion riyal overhaul of the airport, which includes doubling the capacity of the Haj terminal from 4.5 million to 9.2 million passengers by 2025.." [more]

Oil Could Fall to $75 if Opec Boosts Production [Nov 23]
"Oil could tumble as low as $75 a barrel if Opec decides to raise output at next month’s meeting and if the winter season is mild, former Saudi oil minister Ahmed Zaki Yamani said yesterday. But he warned that prices could surge as high as $200 if the US attacked Iran. 'If there are no disasters, then next year’s prices could fall to around $75 per barrel after the winter,'.. ..Oil rallied to a lifetime peak of $99.29 a barrel earlier yesterday. Yamani said prices could ease if Opec agrees to increase production further at its meeting in Abu Dhabi on December 5. The group has already pledged to raised output by 500,000 bpd from November 1.." [more]

~~~~~~~~ [ Nov 21] ~~~~~~~~~

Bush Phones Saudi King Ahead of Mideast Meet [Nov 21]
"US President George W. Bush telephoned Saudi King Abdullah to discuss the Middle East on Tuesday, the state SPA news agency reported, as Washington began issuing invitations for a key peace conference. The two leaders discussed relations between the close allies, as well as 'regional and international developments, chiefly events in the Middle East,'.. ..Despite its close ties with Washington, oil-rich Saudi Arabia has declined to confirm its attendance at the meeting unless the core issues of the Middle East conflict are addressed. Arab foreign ministers are due to meet in Cairo on Thursday to decide on their participation at the US-sponsored conference.." [more]

Saudi Crown Prince to Discuss Iran's Nuclear Program in Visit to Russia [Nov 21]
"Saudi Crown Prince Sultan began an official visit to Russia Wednesday to discuss regional issues with Russian President Vladimir Putin on Middle East issues, including Iran's nuclear program. The royal court, in a statement, said the three-day visit, by invitation from President Putin, was as part of the kingdom's policy 'to maintain contacts with world leaders in the interest of the people of Saudi Arabia and the Arab and Islamic nations issues.' Aside from issues related to Iraq, Lebanon and the Middle East peace process, Saudi diplomatic sources said Prince Sultan will discuss the six Gulf Arab nations offer to Tehran to set up a consortium to provide Iran with enriched uranium to help resolve its conflict with the West over its nuclear program.." [more]

Musharraf Lands in Saudi Arabia [Nov 21]
"In his first trip out of the country since declaring emergency rule, Pakistani President Pervez Musharraf arrived in Saudi Arabia on Tuesday to discuss the future of one of his main political rivals, former Prime Minister Nawaz Sharif, who lives in exile there. Saudi Arabia, one of Pakistan's closest allies, has indicated Sharif should be allowed to return to his homeland to take part in parliamentary elections, Pakistani officials and Western diplomats said.. ..Musharraf would be trying to dissuade the Saudis from releasing Sharif. "'rom the Saudi point of view, Benazir Bhutto is here, but Sharif is not allowed," Iqbal said. "By having him in Saudi Arabia, they become involved in party politics here, and they don't like that'.." [more]

Saudi Rape Victim Crushed by Ordeal [Nov 21]
"The husband of a Saudi rape victim sentenced to 200 lashes and six months in prison said his wife is "a crushed human being," and blamed one judge with a personal vendetta -- and not the Saudi judicial system -- for treating her as a criminal.. ..The case, which has sparked media scrutiny of the Saudi legal system, has drawn a strong reaction from Washington where State Department spokesman Sean McCormack said U.S. officials had "expressed astonishment" at the sentence, though not directly to Saudi officials. Human Rights Watch said it has called on Saudi Arabia's King Abdullah 'to immediately void the verdict and drop all charges against the rape victim and to order the court to end its harassment of her lawyer.'.." [more]

Qatif Case Verdicts Get Ministry’s Backing [Nov 21]
"The Ministry of Justice made its first public statement regarding the second verdict in the so-called “Qatif Girl” rape trial, justifying the decision to punish the victims with lashes and jail time on the basis of 'some proved charges.' The statement, which was released through the official Saudi Press Agency, said the ministry 'welcomes objective criticism that benefits the general good, away from emotional responses.'.. ..The decision to increase the punishments came after the woman’s lawyer, Abdul Rahman Al-Lahem, requested that the courts review the sentences issued to the rapists.." [more]

Shoura Calls for Quick Steps to Contain Bird Flu [Nov 21]
"The Shoura Council has urged the health and agriculture ministries to take quick measures to eradicate bird flu in the Kingdom and keep the public updated about the deadly virus. During a meeting in Riyadh, many Shoura members called upon the ministers of health and agriculture to explain to the public the reason for the bird flu outbreak in the Riyadh region.. ..Officials said this week 220,000 birds have been culled so far, as teams combed other areas near the capital, which has a population of around four million. Health Ministry spokesman Dr. Khaled Al-Mirghalani said it has large stocks of Tamiflu anti-flu tablets in case the virus spreads to humans.." [more]

Jeddah Motor Show Set [Nov 21]
"The Saudi International Motor Show (SIMS), Saudi Arabia’s 29th international event for motor vehicles, motorcycles, auto parts, accessories and garage equipment, is set at the Jeddah International Exhibition & Convention Center from Nov. 25-30.. ..Driven by the volume of new car sales — over 270,000 vehicles are imported annually — and its preowned car sector continuing to grow, the Kingdom is the largest market in the Middle East for auto parts, accessories, service and garage equipment.." [more]

Indian Trade Team Clinches Huge Deals in Saudi Arabia [Nov 21]
" A group of 40 Indian industry managers, currently visiting Saudi Arabia with the support of the Indo-Arab Chamber of Commerce & Industry (IACCI), has signed multimillion-riyal trade, technology and investment deals, said Sushil Jiwarajka, IACCI chief, in a business conference on Monday night. The occasion also saw the launching of India Business Forum (IBF), an organization set up by the local Indian business leaders under the umbrella of the Indian embassy.. ..Established in 1980, IACCI has a mandate to provide a dynamic link for the promotion of commercial relations between India and Saudi 
Arabia on the one hand and between India and the Arab world on the other.." [more]

Cisco Plans to Invest $268 Million in Saudi Arabia [Nov 21]
"Cisco plans to invest $268 million in Saudi Arabia over the next five years and has set up an initiative to develop and recruit local network consulting engineers (NCE). In information made available to Khaleej Times here, the company said Jordan would act as a hub and cater to trainees across the Gulf Cooperation Council states the Levant and North Africa. It explained that the initiative to develop NCEs is part of a bid in emerging countries to employ and train 96 recruits in fiscal year 2008 and 200 by fiscal year 2009 at the professional and associate levels. Selected students will be put through a rigorous programme that combines theory, industry exposure and hands-on experience at regional Cisco technology academies.." [more]

~~~~~~~~ [ Nov 20] ~~~~~~~~~

US Saudi Arms Package Faces Fight in Congress [Nov 20]
"Lawmakers are striking a note of alarm over reported US plans to sell sophisticated satellite guided bombs to Saudi Arabia, as part of a 20 billion dollar arms sale. A coalition of 188 members of the House of Representatives warned that if the technology fell into the "wrong hands" it could harm US forces in the Middle East and threaten Israel. 'Any sale of JDAM (Joint Direct Attack Munition) technology to Saudi Arabia must come with guarantees backed by strict conditions notified to Congress followed by regular reporting,' the lawmakers said in a letter to President George W. Bush. They also called for tight congressional oversight of the sale, and intense US consultations with key US ally Israel.. ..Saudi Arabia remains in a formal state of war with Israel -- the preeminent democracy in the Middle East," the members of congress wrote in the letter. 'Additionally, Saudi groups continue to export Wahabi extremist ideology throughout the world -- an anti-American ideology we face on battlefields of the Global War on Terror.'.." [more]

Saudis To Sign Russia Arms Deal [Nov 20]
"Saudi Arabia’s crown prince is to travel to Russia tomorrow for talks that could pave the way for Riyadh to buy Russian weapons for the first time, a Russian diplomat said yesterday. Prince Sultan bin Abdulaziz, who is also defence minister, was invited to Moscow by President Vladimir Putin after the Russian leader visited Saudi Arabia in February, the diplomat said. The diplomat, who declined to be named, said he expected a 'framework agreement for military co-operation,' which would allow Russian weapons to be sold to Saudi Arabia, to be signed during Prince Sultan’s three-day visit. An official 
Saudi source confirmed the prince’s upcoming trip. Riyadh, a close US ally in the Middle East, has traditionally used Western defence systems, but is seeking to diversify its sources of weaponry.." [more]

Aramco Gas Pipeline Fire Toll Rises to 41 [Nov 20]
"The death toll in the Saudi Aramco gas pipeline fire rose to 41 after four new bodies were found on Tuesday. The death toll is expected to reach 48, according to informed sources. The giant state-owned oil company, Saudi Aramco, said in statement on Sunday that the fire erupted on a gas pipeline 30km from Al Hawiya gas plant in the eastern province of the Kingdom during routine maintenance carried out by one of its contractors. The bodies of victims were charred beyond recognition. Authorities have moved 37 bodies to Safwa hospital in Dammam, in the eastern part of the Kingdom, for DNA tests to identify the victims.." [more]

Enhanced Strategic Partnership With the Kingdom of Saudi Arabia [Nov 20]
"Under the auspices of the Royal Court, the United Nations World Food Programme has been discussing this week with the authorities of the Kingdom of Saudi Arabia ways to further strengthen their humanitarian partnership to help feed the hungry poor around the world.. ..The World Food Programme is a leading United Nations Agency in humanitarian action.. ..'A strategic partnership between the two in the area of humanitarian assistance is a natural alliance which would benefit millions of the world's most vulnerable and needy people', said WFP Deputy Executive Director John M. Powell who is leading the delegation's official visit to the Kingdom.. ..Since 2006, the Kingdom of Saudi Arabia has contributed over US$40 million in support of WFP's humanitarian efforts worldwide.." [more]

Saudi Authorities Trying to Arrange Meeting Between Musharraf and Former Prime Minister [Nov 20]
"Pakistani President Pervez Musharraf has left for a visit to Saudi Arabia. Officials there tell The Associated Press that authorities are trying to arrange a visit between Musharraf and Nawaz Sharif -- the prime minister he toppled in 1999. Sharif was sent back to Saudi Arabia last month when he tried to return home from exile, even though the Supreme Court ruled he could not be kept out. There is no immediate indication Musharraf intends to visit Sharif, who told a Pakistani newspaper that no meeting was planned. Musharraf frequently visits Saudi Arabia, which is a close ally.." [more]

Singapore Strengthening its Business Ties With Saudi Arabia [Nov 20]
"A business delegation from Saudi Arabia is in Singapore to drum up investments in the kingdom. Saudi Arabia is seeking to build its non-oil sectors, such as infrastructure, mining, water desalination, power generation and high technology projects. Speaking at the second Saudi-Singapore Business Council forum on Tuesday, Minister of State for Trade and Industry Lee Yi Shyan said there are many opportunities in Saudi Arabia that Singapore can tap upon. He noted that there were various new initiatives by the Saudi Arabia General Investment Authority (SAGIA).. ..Last year, trade between Singapore and Saudi Arabia rose by 2.2 per cent to S$15.9 billion.." [more]

Malta, Saudi Arabia to Collaborate on Diplomatic Studies [Nov 20]
" Memorandum of Understanding and Cooperation has been signed between the Mediterranean Academy of Diplomatic Studies of the University of Malta and the Institute of Diplomatic Studies of the Ministry of Foreign Affairs of Saudi Arabia. The Foreign Ministry said the aims of the MoU are to establish and strengthen cooperation in the areas of information, research activities and training programmes and exchange documents, studies and expertise between the two parties.. ..Both parties also agreed to exchange invitations to specialists to attend workshops, symposia and conferences, expertise in areas related to library organisation, education and administration of educational institutions, exchange lecturers and students with the aim to upgrade their professional qualifications and promote meeting and discussions on issues of mutual interest with the participation of ministers, officials, diplomats, students and faculty members.." [more]

KSA Heads Relief Efforts for Dhaka [Nov 20]
"Saudi Arabia led relief efforts for Bangladesh's cyclone victims on Monday, pledging $100 million in aid as US ships powered to the disaster zone with dozens of helicopters for evacuations. King Abdullah also ordered the dispatch of food, medical and other relief assistance to the victims in the disaster-prone South Asian Muslim nation, according to a statement from the royal court. The Jeddah-based Organization of the Islamic Conference has called on governments and civil bodies in its 57 member states to send urgent assistance to impoverished Bangladesh, battered by a colossal storm Thursday night that swept entire villages away. Soldiers and relief workers were racing to get aid to millions left homeless by the cyclone, as officials said the death toll had topped 3,100 and was certain to keep rising. According to the Red Cross, the final toll could be anywhere between 5,000 and 10,000.." [more]

Bird Flu Arrives in the Heart of Riyadh [Nov 20]
"A poultry market in the Aziziyah district of Riyadh was cordoned off after inspectors identified four cases of bird flu there yesterday during a random inspection. An emergency team, assigned by the Ministry of Agriculture to control the deadly virus, cordoned the market off. The team comprises officials from the police, the municipality, the ministries of health and agriculture and the National Commission for Wildlife Conservation and Development (NCWD). 'There are 85 poultry shops in this market and each will have a minimum of 1,000 birds. The team plans to cull the birds and disinfect the whole area to stop the virus from spreading,.. .. the authorities have so far culled 222,000 birds in Al-Kharj, Durma, Muzamiyah and Al-Hayati.." [more]

~~~~~~~~ [ Nov 19] ~~~~~~~~~

Pakistan's Musharraf to Visit Riyadh on Tuesday [Nov 19]
"Pakistani President Gen. Pervez Musharraf is to visit Saudi Arabia on Tuesday and meet with Saudi King Abdullah.. ..Musharraf and Abdullah would discuss bilateral relations and means of boosting ties between their nations in 'several domains, as well as regional and international issues of common interest,'.. ..The agency said Musharraf will also visit the holy city of Mecca for a minor Hajj pilgrimage. It did not give further details. Musharraf frequently visits Saudi Arabia for talks with the kingdom's ruler. Both nations are U.S. allies. Riyadh said Musharraf will brief Abdullah on the latest situation in Pakistan.." [more]

Iran Considers Saudi Plan to End Nuclear Impasse [Nov 19]
"President Mahmoud Ahmadinejad has for the first time signalled that Iran may be interested in a facesaving way out of the international crisis triggered by its suspected nuclear weapons programme. The President said in Riyadh yesterday that he would discuss Saudi proposals for a consortium for uranium enrichment in a neutral third country such as Switzerland, which represents US interests in Tehran. The Iranian leadership had rejected similar Russian proposals. Mr Ahmadinejad did not reject the Saudi plan out of hand, telling Dow Jones newswires: 'We will be talking with our [Arab] friends about the scheme endorsed by the six-nation Gulf Cooperation Council. He did not comment further.." [more]

Oil Prices Hold Onto Earlier Gains on News of Fire at Saudi Plant [Nov 19]
"Oil prices held onto earlier gains, underpinned by news of a fire at one of Saudi Aramco's facilities this weekend, and by calls from some OPEC members for oil to be denominated in a basket of currencies other than the dollar. Chief OPEC hawks Iran and Venezuela said at this weekend's OPEC summit in Riyadh that cartel members need to consider pricing oil in other currencies in order to safeguard their oil revenues. Although dollar weakness was not mentioned directly in the summit's final communique, the cartel has reportedly agreed to form a committee to study the issue.." [more]

Kingdom Explores Investment Prospects in Asian Oil Refineries [Nov 19]
"Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi said here yesterday that the Kingdom was scouting for investment opportunities in oil refineries in Asia within the framework of the Riyadh Declaration to maintain oil supplies.. ..The Kingdom was planning to double its own oil refining capacity from the current level of 3.2 mbpd to six million barrels per day (bpd) within the next five years, 'but we would also be interested in investing abroad. Already, we have set up or are establishing joint ventures in refineries in various Asian countries like China, Japan, South Korea and the Philippines.' Though he did not mention India by name when he spoke about their interest in expanding these areas of cooperation, both countries are considering a proposal to set up an oil refinery in India as part of a joint initiative to boost their bilateral relations in the energy sector.." [more]

Saudi Arabia Gives 100 mln usd to Cyclone-hit Bangladesh [Nov 19]
"Oil-rich Saudi Arabia said it is giving Bangladesh 100 mln usd in emergency aid to help victims of a devastating cyclone which left thousands dead. King Abdullah also ordered the dispatch of food, medical and other relief assistance to the victims, according to a statement from the royal court. Soldiers and relief workers were racing to get aid to millions left homeless by the cyclone in Bangladesh, where officials said the death toll had topped 3,100 and was certain to keep rising.. ..The Jeddah-based Organisation of the Islamic Conference has called on governments and civil bodies in its 57 member states to send urgent assistance to Bangladesh.." [more]

Profits of Saudi Listed Firms Jump to SR23.26 Billion [Nov 19]
"The profits of the Saudi listed companies jumped to SR23.26 billion in the third quarter as compared to SR20.77 billion in the same period last year. The rise is skewed by the figures of Kingdom Holding Co., whose profits were not included in last year’s figures. For the nine months, the total profit increased by 8 percent to SR64.06 billion as compared to SR59.50 billion in the first nine months of 2006. That is an improvement over the first and second quarter of the year and is an indication of a recovery in the corporate performance, according to a Quarterly Corporate Update 3 by Al-Rajhi Financial Services Co.." [more]

Rape Victim’s Lawyer Refuses to Give In [Nov 19]
"The lawyer representing a Saudi rape victim in Qatif has criticized the second ruling issued by the Kingdom’s Higher Court of Justice doubling the woman’s punishment to 200 lashes and six months in jail, saying that the ruling 'sums up the major problems that the Saudi judiciary faces.'.. ..'Basic Islamic law states that an appeal shall not harm the person appealing,' said Al-Lahem, adding that lodging an appeal is the right of anyone accused of a crime and something crucial for a just trial. 'Once this rule is ignored, then people who appeal verdicts are only left terrorized. From now on people will be apprehensive to appeal fearing they might be punished or have their sentences doubled. That’s exactly what’s happened to the rape victim, who only wanted justice,.." [more]

Gulf States Ban Saudi Poultry [Nov 19]
"A recent decision by several Gulf countries to ban the import of poultry products from Saudi Arabia may cause huge losses to Saudi farmers and exporters, said Riza Al-Naghmoush, a poultry farmer in the Eastern Province. Kuwait and United Arab Emirates said they have imposed the ban following bird flu reports in the Kingdom. According to a source at the Bahrain Chamber of Commerce and Industry, Manama is expected to follow suit.. ..Saudi Arabia annually exports 10,000 tons of poultry products to the UAE and Yemen. Meanwhile, Sultan Al-Fohaid, director of customs at the Al-Khafji border, said on 
Saturday that his office had not registered any trucks carrying Saudi poultry being refused entry into Kuwait.." [more]

OPEC Pledges to Harness Clean Oil [Nov 19]
"The 13 leaders of the Organization of Petroleum Exporting Countries (OPEC) unanimously declared here yesterday that they would continue to support the importance of technology to enable the use of 'clean oil', notably carbon capture and storage, to help fight global warming. 'We insist on the importance of clean technologies for the protection of the world’s environment and insist on the importance of developing technologies that can help combat the problem of global warming, such as carbon sequestration,' a statement from the Riyadh final communiqué read by OPEC Secretary-General Abdullah Al-Badri. Al-Badri said that OPEC countries would continue to work with other governments, international organizations and business communities on investments in the field.." [more]

~~~~~~~~ [ Nov 18] ~~~~~~~~~

Saudi Gas Pipeline Fire Kills 28 [Nov 18]
"An explosion and fire killed 28 people working on a natural gas pipeline in eastern Saudi Arabia, the Saudi national oil company said Sunday. It said the cause of the fire was an accident during maintenance work and it did not expect a disruption in gas supplies. 'The fire broke out while contract workers were linking a new pipe' to the pipeline late Saturday, Aramco said. 'The company is taking all necessary measures to guarantee the continuation of the normal gas output.' It said 28 workers, including five Aramco employees, had died in the fire, which was put out early Sunday.." [more]

Iran Nuclear Compromise Not Discussed in Riyadh: Saudi [Nov 18]
" Iran has not discussed a Saudi-backed plan proposed by Arab states in the Gulf to create an international consortium to enrich uranium in a neutral country outside the Middle East, Saudi Arabia's foreign minister said Sunday. 'They haven't discussed it. As a matter of fact, they refused it,' Saudi Foreign Minister Prince Saud al-Faisal told AFP. The plan was proposed by Iran's Arab neighbours in the Gulf at the beginning of November, but was swiftly turned down by Tehran. Iranian President Mahmoud Ahmadinejad was in Riyadh for a two-day summit of leaders.." [more]

Saudis Start Deploying Special Security Force [Nov 18]
"The first trained members of a security force dedicated to the protection of Saudi oil installations have started deploying, as the government pursues its counter-terrorism campaign despite a marked improvement in security.. ..According to General Mansour Al Turki, a spokesman for the Interior Ministry, 9,000 members of the force are now either deployed or trained and another 8,000 will be added every year, to reach full strength. The new force is now working with other existing forces, including the military and the national guard, but will gradually replace these as its numbers increase.." [more]

Saudi Arabia Mulls Revaluation [Nov 18]
"Saudi Arabia could consider revaluing the riyal with other Gulf oil producers, but has no plans to drop its peg to the sliding dollar to track a currency basket, a source familiar with Saudi currency policy said. Any revaluation by the world's biggest oil exporter would be 'very small' and designed to keep plans for Gulf monetary union alive, the source said, communicating the Saudi response to growing market expectations of a Gulf exchange-rate shift. 'Saudi Arabia will definitely not shift to a basket of currencies,' the source said.." [more]

Saudi Arabian Economy Will Probably Grow 5% in '07 [Nov 18]
"During the Regional Economic Forum for the Middle East and North Africa that took place in Saudi Arabia recently, a Saudi economist stated that the Kingdom's economy is forecast to grow by 5 percent, with the private sector projected to grow by about 8 percent in 2007, Arab News reported. The economist attributed the high inflation rate in the Kingdom, which reached 4.4 percent at the end of August of this year.. ..He also said that unemployment rate which stood at 8 percent in 2000 increased to 12 percent in 2006.." [more]

The Global Competitiveness Forum 2008 to Convene in Riyadh [Nov 18]
"Riyadh is set to grasp the global business realm's attention when hosting the Global Competitiveness Forum (GCF) 2008, a premier conference in the international business calendar, between 20 and 22 January 2008.. ..Themed 'Competitiveness as an Engine for Economic Growth' the two-day forum will bring together some 50 international businesses, corporate and political leaders who will debate and address a range of issues challenging the global and local economic landscape.. ..Mr. Amr Al Dabbagh, Governor of SAGIA said that the GCF play host to a wide array of leading speakers from the worlds of commerce, politics and academia who will address some of the primary international issues to help set reform priorities in the wake of recent world events.." [more]

Saudi Bourse in Biggest One-Day Decline in Two Weeks [Nov 18]
"Saudi Arabia's bourse, which has risen almost 20% since hitting a two-month low on Oct. 7, recorded its biggest one-day decline in more than two weeks yesterday as investors sold stocks that have rallied this month. The benchmark of the Arab world's largest stock market fell 0.57% to 9,212.32 points, its sharpest single day drop since Oct. 30. Saudi Basic Industries Corp (SABIC), the world's biggest chemicals firm by market value, slipped 2.08% after gaining more than 13% this month to its closing price last week.." [more]

Petromin Sold to Dabbagh-Hinduja Alliance for $200m [Nov 18]
"The Dabbagh Group of Saudi Arabia, in partnership with Hinduja, a major Indian conglomerate, bought Petromin — a joint venture between Saudi Aramco and Mobil Investments — for $200 million (SR750 million), a senior official of Petromin told Arab News on Friday. The Petromin takeover by Dabbagh Group and Gulf Oil International, a subsidiary of Hinduja, represents a significant trend in the oil sector that not only underlines growing investment in the Saudi downstream oil industry but also inflow of capital from India into the Kingdom’s energy sector. Petromin, the largest manufacturer of lubricants in the Kingdom, exports to over 20 countries. Prior to the takeover, it was a joint venture between Saudi Aramco (71 percent) and Mobil Investments (29 percent).." [more]

Business Talks With West [Nov 18]
"Some six American companies specializing in the commercial and industrial fields have met with Saudi businessmen and women at the Jeddah Chamber of Commerce and Industries (JCCI) recently. The American delegation, headed by the Director of the International Trade Office for the Development of Economic Relations in Virginia Mark Meyerk, aimed to open investment and joint venture opportunities with the Saudi owners and entrepreneurs.. ..'The Saudi businessmen and representatives of the American companies underscored the need to support trade and economic relations between the two countries, pointing out that the economic cooperation between Saudi Arabia and the US are growing rapidly in the light of the availability of direct and rapid transportation,'.." [more]

Nov 11 -Nov 17, 2007

~~~~~~~~ [ Nov 17] ~~~~~~~~~

Saudi Minister Discourages Citing Dollar [Nov 17]
"..Oil is priced in dollars on the world market, and its depreciation has concerned oil producers because it has contributed to rising crude prices and has eroded the value of their dollar reserves. Cartel officials have resisted pressure to increase oil production to ease prices. 'The reality is that we have this problem. I think we should draft the declaration to reflect our concerns,' Iranian Foreign Minister Manouchehr Mottaki said during a pre-summit meeting here with fellow ministers from the Organization of Petroleum Exporting Countries. But Saud al-Faisal, foreign minister of U.S. ally Saudi Arabia, came out against the proposal with unusually frank comments. 'In my feeling, the mere mention that the OPEC countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries,' he said. 'We all should be worried if any action that we take will lead us to do some injury to our returns on our product.." [more]

Saudi Arabia Works the Vast Desert To Pump Out More High-Quality Oil [Nov 17]
"..Next year, Saudi Aramco, the state oil company, plans to boost production by 250,000 barrels a day, one step in an effort to expand the kingdom's oil-production capacity to 12.5 million barrels a day from the 11.3 million barrels.. ..The expansion plan is a reminder of just how vast Saudi oil reserves are and how little exploration is needed to maintain output. Last year, according to Saudi Aramco's annual report, the state-owned oil firm drilled just 13 exploration wells. In the United States, oil companies drilled 4,005 exploration wells.." [more]

Saudi Arabia in Focus as Oil Moves to the Top of the Agenda [Nov 17]
"..as the G20 ministerial gets underway in a sunny corner of the Western Cape. The heat of their collective gaze will be on Saudi Arabia's finance minister, Ibrahim Abdulaziz Al-Assaf, who is representing the world's biggest oil producer. After all, the Arab Kingdom is seen as wielding enough power in OPEC, the cartel of oil producers, to bring about some change. And, to make matters just a touch more interesting, OPEC is at the same time having its summit in the Saudi capital, Riyadh.." [more]

Saudi Arabia May Order 24 Eurofighter Jets [Nov 17]
"Saudi Arabia could order 24 Eurofighter Typhoon combat jets from BAE Systems for about 1.5 billion pounds ($3.06 billion), the Middle East Economic Digest (MEED) reported on Friday. Saudi Arabia and Britain announced in September a 4.43 billion pound deal for 72 of the Eurofighters. 'The kingdom is set to decommission a number of aircraft and is thinking about a possible order for 24 more Eurofighters,' MEED quoted an adviser to the Saudi government, that it did not identify, as saying. 'There is a need for new aircraft given the situation in the region, particularly the issue of Iran,'.." [more]

Thousands of Chickens Die in Saudi [Nov 17]
"Around 90,000 chickens died at two farms in Saudi Arabia following a bird flu outbreak, Agriculture Minister Fahd Balghnaim was quoted as saying yesterday. Balghnaim did not confirm that bird flu was the cause of death. But the deaths occurred one day after his ministry announced that 50,000 birds were culled at a poultry farm in Al Kharj, 80km south of Riyadh, after the deadly H5N1 strain of bird flu was detected there. The minister said around 50,000 chickens died in a farm in Al Mazahmiyah, about 80km west of the capital, and another 40,000 died at a nearby farm.. ..Saudi Arabia banned all live poultry imports after bird flu was last detected in the kingdom in March. In April, neighbouring Kuwait culled 1.7mn birds after the strain was found. There are no reports of the disease spreading to humans in either country.." [more]

~~~~~~~~ [ Nov 16] ~~~~~~~~~

Saudi Envoy asks Canada to do More for Mideast Peace [Nov 16]
"Saudi Arabia's ambassador yesterday called on Canada to take an active role in resolving persistent problems in the Middle East -- notably the Israeli-Palestinian conflict -- that are fuelling terrorism and instability.. ..Abdulaziz Al-Sowayegh noted that Canada has great credibility in the region. Because of its history of peacekeeping, its lack of colonial history and its support for developing nations, 'everyone really looks at Canada with respect and admiration,'.. ..He said the most important thing Canada could do is support the implementation of United Nations resolutions on the Arab-Israeli conflict, including demands for Israeli's withdrawal to its 1967 borders.." [more]

Output Hike May Not Cool Prices: Opec [Nov 16]
"Oil prices would probably not fall even if Opec raises production when it meets in Dec-ember, since the market is being supported by factors other than supply, the oil minister of Algeria said on Thursday.. ..Oil ministers have made clear they will not discuss output policy at the heads of state summit now under way in Riyadh, adding that they believe factors beyond Opec's control - such as speculation and geopolitical anxiety - are driving prices.. ..Opec officials at a summit of the producer group said there was no easy way to crack down on speculators whom they blame for sending oil prices to a record high near $100 a barrel.." [more]

Kingdom Ready to Invest in CO2-Reducing Technology [Nov 16]
"Minister of Petroleum and Mineral Resources Ali Al-Naimi joined other delegates at the OPEC Ministerial Council meeting yesterday in calling for greater efforts to reduce CO2 emissions and invest in new technology to curb environmental pollution. Al-Naimi was chairing a session on climate change on the second day of the Ministerial Council meeting ahead of the two-day OPEC summit that opens tomorrow.. ..On environmental pollution, the minister said: 'Since fossil fuels are going to be around for some time, we need to develop technology to reduce carbon emissions. We are all called upon to address the climate-change concern and find a balance that is a possible, comprehensive and cost-effective solution.. ..Saudi Arabia is willing to participate in any such project.'.." [more]

Rape Victim's Harsh Sentence Shocks Saudis [Nov 16]
"A Saudi court has more than doubled the number of lashes that a female rape victim was sentenced to last year after her lawyer appealed against the original sentence. The decision, which many lawyers found shocking even by Saudi standards of justice, has provoked a rare public debate about the treatment of women. The victim's lawyer, Abdul Rahman al-Lahem, a human rights activist, drew the court's ire because of his strong public criticism of the handling of the case. He has called his client's conviction unjust and said the sentences of the seven men who raped her were too lenient.. ..Mr Lahem's licence to practice law has been suspended and he is facing a hearing before a Ministry of Justice disciplinary committee on December 5 in Riyadh for appearing regularly on television and talking about the case. Judges of the Qatif General Court have accused him of trying to tarnish the court's image by talking to the media.." [more]

GCC Urged to Revalue Currencies [Nov 16]
"A revaluation of the GCC currencies is needed now and the region should begin preparations to shift their currencies away from the dollar peg to a basket of currencies with which the Gulf trades, a report released recently by Standard Chartered Bank revealed. The report titled 'Thought Leadership', emphasized that this shift in currency policy is needed not only to reflect the present vulnerable state of the dollar.. ..The report also looked in detail the Gulf’s condition in terms of the three Ds, i.e., diversification, demographics and the dollar.." [more]

JEF 2008 to Boost Kingdom’s Industrial, Service Awareness [Nov 16]
"Some 35 political leaders, economists and heads of multinationals companies from 22 countries have expressed their desire to participate as speakers in the 2008 Jeddah Economic Forum to be held on Feb. 23-26, Sami Bahrawi, president of the forum, said. They are expected to present 24 working papers as well.. ..The two sessions on the first day would discuss 'Kingdom’s New Development Vision' and 'the Economic Cities,' and the second day’s meetings would focus on 'the Energy' and 'Government — Private Cooperation'. The last day’s sessions are set for “From Boom to Affluence” and 'Industry and Technology,' Bahrawi said.." [more]

US Image in Middle East [Nov 16]
"Most Americans think that our role as a world power began with World War II, the “good war,” and then continued with the similarly noble Cold War. We like to think that the United States acts in the world exclusively in the name of ideals such as freedom and democracy. So it may come as a bit of a shock to learn that the United States has had an uninterrupted military presence in the Middle East for 65 years, dating to 1942. Most Americans would also bristle at the idea that this presence, from the arrival of GIs in North Africa onward, has essentially become a continuation of nearly a century and a half of European military adventures in the region.." [more]

~~~~~~~~ [ Nov 15] ~~~~~~~~~

Kingdom, Yemen Urge Diplomatic Solution to Iran Standoff [Nov 15]
"Saudi Arabia and Yemen yesterday called for a diplomatic solution to the nuclear standoff between Iran and the West. They also urged Tehran to comply with UN Security Council Resolutions 1696, 1737 and 1747 and cooperate with the International Atomic Energy Agency. In a final communiqué issued by the Saudi-Yemeni Coordination Council, the two countries emphasized that Israel must join the nuclear nonproliferation treaty and give international inspectors access to its nuclear facilities in order to keep the region free of weapons of mass destruction.." [more]

Saudi Culls 50,000 Birds After Bird Flu Found [Nov 15]
"Saudi Arabia has culled 50,000 birds at a poultry farm near the capital of Riyadh, which were found to have a deadly strain of bird flu, Saudi media reported on Thursday.An agriculture ministry statement carried by newspapers said the birds were culled at the farm in al-Kharj, 150 km (94 miles) south of Riyadh, after 1,500 birds died earlier this week. The statement said it was not clear how the birds had become infected with the H5N1 virus. It gave no more details.." [more]

Iran's Oil Minister in Saudi Arabia [Nov 15]
"Iran's oil minister and his entourage have landed in the Saudi capital, Riyadh, ahead of OPEC's third summit, beginning on November 16. The Iranian Minister of Economic Affairs & Finance, Davood Danesh-Jafari, is also set to participate in third OPEC summit. Oil ministers and economy experts of 12 OPEC member states are due to exchange views on the future of oil and energy at the summit. Iran will also put on display its technological capabilities in gas and oil industries.." [more]

Inflation Is a Source of Worry: Sayari [Nov 15]
"Saudi Arabia’s central bank chief said domestic housing, and global food and commodity prices were fueling Saudi inflation rather than the dollar’s decline, the Financial Times reported yesterday. 'The high global food prices, commodity prices and domestic housing costs; these are the major sources of inflation,' the FT quoted Saudi Arabian Monetary Agency (SAMA) Gov. Hamad Al-Sayari as saying. 'The weakness of the dollar has a role but it’s not the main cause,' he said. Inflation in Saudi Arabia rose to 4.89 percent in September, its highest in at least a decade.. ..SAMA manages the Kingdom’s foreign assets, which were worth $258 billion at the end of September.." [more]

OPEC Aid to Offset Price Impact [Nov 15]
"The Organization of Petroleum Exporting Countries (OPEC) has announced that it will help developing and least developed countries (LDCs) offset part of the impact of the rise in oil prices by funding their socioeconomic projects.. ..He mentioned that OPEC member states would be investing up to $150 billion on 120 projects to produce 19 million bpd by 2015. As for its role in alleviating the pain of developing countries, he said OPEC would assist them in their economic development programs, especially in the fields of education, housing and health care.." [more]

Jihad and the Saudi Petrodollar [Nov 15]
"two months investigating Wahhabism, Saudi Arabia's austere brand of Islam. In the first of a two-part series, to be broadcast on the BBC World Service, he looks at the fierce debate over whether Wahhabism and Saudi petrodollars have fomented extremism.. ..Over the last two months I've talked to officials of the Saudi government and Saudi charities who argue the campaign against them is unjust. I've heard some of the world's leading experts, gathered in a small town in the Dutch countryside, attempt to define Wahhabism - and Salafism, the bigger family of conservative Sunni Islam of which it's part.." [more]

Opec Won't Budge on Crude Production [Nov 15]
"Leaders of the 12 Opec countries are preparing an official statement that will reject calls for the oil producers' group to raise production and help ease record crude prices. There has been intense speculation at this week's Opec summit in Saudi Arabia that the organisation would ignore pleas from major oil consuming nations to open the taps. And it was confirmed today that Opec officials are working on an official statement that will end any last hopes in the US and Europe that the group could bring relief from the $90-plus oil price.." [more]

Saudi’s Biggest Travel Firm Plans IPO to Grow [Nov 15]
"Al-Tayyar Travel Group, Saudi Arabia’s biggest privately owned travel firm, said it aims to raise about 550mn riyals ($146.7mn) in an initial public offering before April to help finance acquisitions. The firm plans to sell 30% of its shares as it seeks to tap Saudi demand for foreign travel, and the international market for Muslim pilgrimages to Mecca and Medina from as far apart as the US and Australia, the company President Nasser al-Tayyar told reporters in Dubai yesterday.. ..“We are negotiating with a few companies in Australia to buy travel agencies,” he said on the sidelines of the Dubai air show, declining to be more specific.." [more]

Kingdom Set to Hold Two Major Gold Exhibitions [Nov 15]
"With an estimated $7.2 billion gold and jewelry sales per year, Saudi Arabia has emerged as one of the most attractive destinations for exhibitions in this highly specialized segment of the economy, an organizer of one of the biggest shows said yesterday.. ..Talking about the start of marketing of upcoming two international gold and jewelry exhibitions in Saudi Arabia in February next year, he said that Saudi market alone consumes 70 percent of the total diamond consumption in the region. The second gold and jewelry exhibition would be held at Prince Sultan Grand Hall at Al- Faisaliyah Hotel in Riyadh on Feb. 20-23, 2008. The third gold and jewelry exhibition will be held at Jeddah Hilton Hotel on Feb. 26-29, 2008.." [more]

~~~~~~~~ [ Nov 14] ~~~~~~~~~

GCC Ministers Aim to Forge Unified Policy on Foreign Workers [Nov 14]
"The GCC Labour and Social Affairs ministers began their 24th session to forge a unified strategy to limit the foreign workforce in GCC countries. The meeting aims to formulate a unified position to limit the flow of foreign workers into Gulf states in view of the rising number of expatriate workers. During the meeting, Abdul Rahman Hamad Al Atiyyah, Secretary-General of the Gulf Cooperation Council (GCC), said that it was high time that the GCC countries forged a unified strategy to limit the influx of foreign workers and created more job opportunities for their nationals.." [more]

US Trade Mission Eyeing Manufacturing Ventures [Nov 14]
"A US trade delegation from the state of Virginia, which held a meeting at the Jeddah Chamber of Commerce and Industry yesterday, is keen on finding partners for joint ventures. “Some of its members are also considering the prospects of joint ventures in manufacturing facilities,” Mark C. Myrick, head of the delegation and international trade manager at Richmond-based Virginia Economic Development Partnership, told Arab News on the sidelines of the team’s meeting with local businessmen.. ..Asked about Virginia’s imports from the Kingdom, Myrick said: 'Virginia gets its share from the overall $21 
billion imports from Saudi Arabia, 98 percent of them oil.'.." [more]

Saudi King Okays New Centre for Islamic Studies [Nov 14]
"King Abdullah Bin Abdul Aziz has approved the establishment of a centre for Contemporary Islamic Studies and Civilisations Dialogue at Imam Mohammad Bin Saud Islamic University, the Saudi Press Agency reported. Dr Suliman Bin Abdullah Aba Al Khail, the University's rector, said the centre aims at 'projecting the greatness of Islam in handling problems and shedding light on Islamic systems and rights in Islam.' Apart from this, the centre looks into youth problems and women's issues and their rights in Islam, besides explaining the Islamic stand on terrorism and contemporary issues.." [more]

Worker Rights Society Denied Permission [Nov 14]
"Proposals by a group of concerned Saudis to launch an organization to protect the rights of workers and tackle unemployment in the Kingdom have been declined by the Ministry of Labor. Anees Al-Ansari, founder and president of the Saudi Society of Labor, received a telephone call last week from the labor minister’s office informing him that the organization had been denied permission, as there are already other bodies that play a similar role.. ..Al-Ansari said that members would ask the ministry to reconsider its decision. 'If we’re refused permission again, then we’ll go to the Court of Grievances to follow up on our right to establish the society. We can be asked to modify our goals but we can’t be 
totally rejected,' she said.." [more]

What Do Closer Turkish-Saudi Relations Mean These Days? [Nov 14]
"..the critical visits to Turkey by Saudi King Abdullah, Israeli President Shimon Peres and Palestinian President Mahmoud Abbas: Over the past few weeks, whether in its immediate region or further afield, Turkey has witnessed a series of developments in the Turkish-Islamic world. These developments have all occurred one right after the other and it appears that they will keep on coming.It would be quite naive to interpret the above events as being independent of one another. The greatest naivety, though, would be to view Turkey as outside of any of these developments.. ..there are diplomatic relations and regional cooperation seen between Turkey and Saudi Arabia which lie outside of what we have been accustomed to in recent years.." [more]

Saudi Arabia Seeks Positive Role in Tackling Climate Change [Nov 14]
"Saudi Arabia insisted yesterday that it wanted to play a positive role in tackling global warming but this should be done with new technology, not 'discriminatory' taxes against oil and petroleum.. ..Saudi Arabia and the wider Opec cartel had agreed that safeguarding the environment's future was one of the three top priorities, alongside reliability of oil supply and global prosperity, he added. But the way forward was not higher taxes or financial help for alternative energy sources such as coal, he insisted. 'We do not like policies that discriminate against petroleum or fossil fuels in general.'.." [more]

Alberta Oil Too Costly: Saudi Official [Nov 14]
"Canada is one of the world's costliest oil producers and requires high prices to remain viable, Saudi Arabia's oil minister said in Riyadh on Tuesday, suggesting Saudi Arabia is a better value for investors. Commenting in Arabic, Ali Al-Naimi noted that the 'sands of oil' in northern Alberta need prices to be at least $40 to $60 US a barrel to develop the massive reserves, which are pegged as second only to Saudi Arabia's.. ..In Calgary, Greg Stringham of the Canadian Association of Petroleum Producers agreed the oilsands are costly to develop. 'It's not a big secret that the Canadian oilsands are more costly to develop than Saudi's," he said. "But it is also clear that Canadian production is something 
that the world is taking interest in.' Al-Naimi meanwhile suggested high prices benefit both producing and consuming nations by making high-cost energy sources economically viable.." [more]

Saudi NAS Air Plans IPO to Value it at $2 bln [Nov 14]
"Saudi Arabia's National Air Services said on Wednesday it plans to sell 30 percent of its shares in an initial public offering valuing the firm at about $2 billion next year to help finance aircraft purchases. 'We are eyeing by mid-2008 to launch an IPO listed on the Tadawul,' company President Taher Agueel told reporters at an air show in Dubai. 'Initial valuation of the company is $2 billion.'.. ..NAS operates a luxury airline called Al Khayala, low-cost carrier NASair, and a private aviation service that rents and offers part ownerships of jets in the Gulf Arab region. The company confirmed a $1.3 billion order for 20 single-aisle A320 aircraft at the Dubai air show this week. NAS said it also plans to borrow to finance aircraft purchases over over $4 billion in the next five years to increase its fleet to 167 by 2012.." [more]

Record Number of Chinese Muslims to Make Mecca Pilgrimage [Nov 14]
"A record 10,700 Chinese Muslims are expected to make a pilgrimage to Mecca, Saudi Arabia, the Islamic Association of China (IAC) said here on Wednesday. It is the first time the figure has topped the 10,000 mark. Between Nov. 15 and Dec. 7, Chinese Muslims will travel via 33 non-stop charter flights to the Islamic holy site and return between Dec. 25 to Jan. 16, according to IAC Vice Chairman Yang Zhipo.. ..To prevent possible accidents, China's Regulations on Religious Affairs, which was promulgated in 2004, stipulates that all outbound pilgrimage activities of Chinese Muslims should be organized by the national Islamic association, referring to the IAC. China has more than 20 million Muslims.." [more]

~~~~~~~~ [ Nov 13] ~~~~~~~~~

Moderation Helped Us Win Friends [Nov 13]
"Custodian of the Two Holy Mosques King Abdullah yesterday voiced his optimism that peace and justice could be established in the world if nations returned to God and upheld their shared values. 'Returning to God the Almighty is the way for nations to escape from the calamities of disputes and conflicts,'.. ..He said the moderate policies adopted by the Kingdom had not only won the confidence of friendly countries but also resulted in boosting relations with them. King Abdullah emphasized that the growing problems of wars and conflicts could be tackled through a spirit of justice. The king hoped that his foreign tour, which took him to Britain, Switzerland, Italy, Germany, Turkey and Egypt would contribute to achieving a just and comprehensive peace settlement in the Middle East, protecting the rights of all parties.." [more]

Fears About Oil Supplies Groundless: Saudi [Nov 13]
"The oil minister of OPEC kingpin Saudi Arabia said on Tuesday that fears about a shortage of crude supplies were groundless and there was no reason for them to push prices to current record levels.. ..'The prices today have really no relation with the fundamentals,' he said. 'I believe OPEC in general and Saudi Arabia in particular have demonstrated their ability to respond very quickly to any disruption,' Nuaimi added. 'So I don't foresee the tightness (in the market) that pessimists are talking about.' Nuaimi said there was 'no room' for pessimism and 'no reason for it to push the prices to where they are today.' World oil prices held above 94 dollars per barrel in Asia on Tuesday in steady trade ahead of the weekend summit of the oil cartel.." [more]

Musharraf to Visit Saudi [Nov 13]
"Pakistan President Pervez Musharraf is expected to travel to Saudi Arabia shortly for "important discussions" with King Abdullah, a media report said here on Tuesday. Musharraf had planned to go for a two-day visit on Monday but it was deferred.. ..Musharraf and the Saudi king are expected to discuss issues related to Sharif and his 'future arrangement', the report said. Sharif is currently living in a palace in Jeddah as a state guest of the Saudi royal family and King Abdullah has met him while Foreign Minister Prince Saud al Faisal has been interacting with him on a regular basis. The Saudis are of 
the view that Sharif and his brother Shahbaz Sharif, who is also in exile, should not 'suffer politically at home and they must get a level playing field in the affairs of Pakistan'.." [more]

Saudi Arabia: Religious Tourism Set for 20% Annual Growth [Nov 13]
"Saudi Arabia’s religious tourism market is expected to grow by about 20% annually over the next decade and hotels in Makkah and Madinah are forecasting strong occupancy rates this year, according to The Rezidor Hotel Group, one of the world’s fastest growing hotel companies, which plans to open three new properties in the holy cities by 2010. 'The Kingdom’s geographical, economic and social attributes have a lot to offer to tourists, particularly Muslim travellers who visit the country for Hajj,' said Mohamed Benamar, District Director Saudi Arabia of The Rezidor Hotel Group. 'Saudi Arabia is one of 
our major growth markets and religious tourism will be our main focus.." [more]

Saudis Ask Musharraf to Release Hameed Gul [Nov 13]
"Saudi Arabia has quietly asked the Pakistani authorities to immediately release the ailing Lt General Hameed Gul who is incarcerated in Adiala jail along with his son Abdullah, as the retired general is considered an old friend of the Kingdom and King Abdullah is one of his admirers. It would be the first time that the Saudis or any foreign government has made a request for release of a retired Army general who has been put in the jail for opposing the policies of General Musharraf. Saudi ambassador to Pakistan, Ali Awadh Asseri, has conveyed a message to the Pakistani authorities that the old friend of the Kingdom should be released as he is widely respected for his services to the cause of Islam during the Afghan Jihad.. ..The Saudi ambassador is said to have contacted Uzma Gul, his daughter and expressed his deep sorrow over the ordeal. He is said to have told Uzma that the Saudi government was taking up the issue of his release.." [more]

Treatment of Saudi Detainees in Iraq Heavily Criticised [Nov 13]
" Saudi human rights official has criticised the treatment meted out to to Saudi detainees by authorities in Iraq. He said that Saudis in Iraq's jails are treated badly compared to other nationalities. 'Even the verdicts issued against them are harsher compared to the crimes they have committed,'.. ..'For instance a Saudi who illegally enters Iraqi territories may receive a jail term of 15 years,' he added. At the same time, Al Qah'tani praised the Americans dealings with the dossiers of Saudi detainees. He noted that representatives from NHRS were unable to have access to Saudi detainees in Iraq due to tight security.." [more]

Saudi Equity Market Poised for Boom [Nov 13]
"The Saudi Arabian equity market, the most active initial public offering (IPO) market and largest stock market by capitalisation in the Middle East, is set to double over the next two years, according to Brad Bourland, chief economist at Jadwa Investment.. ..'Currently, there are 100 companies listed on the Tadawul index and I would expect that number to double within the coming two years. Being held in Saudi Arabia, this summit is creating a healthy environment for IPO partners and bankers to do business together for the benefit of the stock market and the wider Saudi economy.'.." [more]

Rights Body in Study of Saudi Price Rise Impact [Nov 13]
"A government-sponsored Saudi human rights body is studying the impact of rising prices on poor people in the latest sign of pressure on authorities to tackle inflation at decade highs. The Saudi central bank is hamstrung in its efforts to curb prices by an exchange rate pegged to the dollar, which forces it to track US monetary policy. Inflation hit a 10-year high in September of 4.89%.. ..The National Human Rights Authority held a meeting on Sunday with representatives from five ministries, including the labour and economy ministries, a spokesman for the authority said. 'There were discussions but no 
conclusions,'.." [more]

IDB to Give $16m for Moro Uplift [Nov 13]
"The Islamic Development Bank (IDB) has decided to give $16 million to the Moro National Liberation Front (MNLF) for poverty alleviation and reconstruction of infrastructure in the southern Mindanao region. According to the Organization of the Islamic Conference (OIC), $4.2 million of the allocation is ready for immediate delivery. The announcement was made at the end of a three way meeting between the Philippines government, the MNLF and the OIC.. ..The meeting’s agenda consisted of one main item — to review the implementation of the 1996 final peace agreement between the Philippine government and MNLF and assess the progress made and obstacles to its implementation.." [more]

~~~~~~~~ [ Nov 12] ~~~~~~~~~

Saudi Monarch Woos Turkey's Islamists [Nov 12]
"When King Abdullah bin Abdul Aziz visited Turkey in August last year, it was 40 years since a Saudi monarch had last visited. When the 83-year-old monarch arrived in Ankara on Saturday with an entourage of 11 planes for his second visit in a year, it was an extraordinary overture. But it was comprehensible. Middle East politics have assumed an unprecedented level of criticality. The Saudis feel the need to Riyadh is signaling Turkey's strategic role. A historical paradox must be noted: Saudi Arabia was the cradle of the "Arab revolt" that sounded the death knell of the Ottoman Empire. It now solicits Turkey's regional role. Turkey, too, is ready to return to the Muslim world after nearly a century's absence.." [more]

Kingdom, Egypt Urge Serious ME Talks [Nov 12]
"Custodian of the Two Holy Mosques King Abdullah returned to Riyadh yesterday at the conclusion of a successful six-nation tour, which saw the signing of several vital accords with Britain, Italy, Germany and Turkey and a historic meeting with Pope Benedict XVI. The king held two rounds of talks with Egyptian President Hosni Mubarak in Cairo. The talks, according to presidential spokesman Suleiman Awad, focused on the Middle East peace conference called by US President George W. Bush as well as the situation in Iraq and Lebanon. Saudi Arabia and Egypt are hopeful that the peace conference, which is scheduled to be held in Annapolis, Maryland later this month will bring about a just and lasting peace, closing the file on the Palestinian-Israeli conflict, ending the occupation and restoring the rights of Palestinians.." [more]

Saudi Keeps Dec Oil Supply Steady to Asia, Europe [Nov 12]
"Saudi Arabia, the world's top oil exporter, will keep supplies of term crude to Asian and European refiners for December steady at November levels in an expected move as prices hover near $100 a barrel. Traders are now watching if the oil kingdom would offer more crude from January after Saudi oil minister al-Naimi said on Sunday that OPEC would discuss an increase in output at an upcoming meeting. He did not make clear whether he was referring to the OPEC heads of state meeting in Riyadh later this week or its next policy meeting on Dec. 5.. ..Full shipments in November and December to Asia could equate to as much as a 350,000 barrels per day (bpd) increase in Saudi exports from October levels. This would be more than half of OPEC's pledge of a 500,000-bpd increase in its supplies from this month, which Naimi had persuaded his peers to accept at their last meeting in September.." [more]

Saudi Arabian Airlines Chooses the Airbus a320 for Fleet Renewal [Nov 12]
"Saudi Arabian Airlines, Saudi Arabia’s national airline, has signed a Memorandum of Understanding (MoU) for 22 Airbus A320 aircrafts as part of the fleet modernization plans. The agreement allows Saudia to increase the order by eight further A320s. The agreement marks a period of rapid expansion of the aviation market in the region with Saudia experiencing unprecedented demand for air travel. The order is particularly significant as it marks the first time Saudi Arabian Airlines have placed an order with Airbus in some two decades.." [more]

Cisco Tops List for $3bn Saudi Fixed Line [Nov 12]
"US networking firm Cisco Systems has topped a list of companies competing for building the infrastructure of a new private fixed-line phone network in Saudi Arabia, the chief executive for the US-Saudi joint venture said in a statement on Saturday. CEO Zohair Azhar said the partnership of Saudi Optical Communication Co. (OCC) and US telecom titan Verizon Communications is allocating 11.25 billion Saudi riyals ($3 billion) for developing the infrastructure and services of its fixed-line network. Cisco will be competing with Nokia, Ericsson, Alcatel and other companies in constructing the advanced fiber-optics network that area planned to link 21 Saudi cities in its first seven years of operation.." [more]

Aramco, Sumitomo to Expand $10 bln Rabigh Project [Nov 12]
"Saudi Aramco and Japan's Sumitomo Chemicals are in talks to expand their $10 billion joint venture, Rabigh Refining and Petrochemical Co (PetroRabigh), the venture's chief executive said. The two firms are in 'serious discussions' to expand the petrochemical complex, which is expected to start commercial operations in the fourth quarter of 2008.. ..Sumitomo and state-owned Aramco, the world's largest oil company by output, agreed in 2005 to develop the petrochemical complex through a 50-50 joint venture that would upgrade a refinery at Rabigh on the Red Sea coast. In January, they will sell a 25 percent stake in an intiial public offering.." [more]

Women Empowerment Tops GCC Social Affairs Agenda [Nov 12]
" Support for women to be more socially active and participate more in social development programs in the six Gulf Cooperation Council (GCC) states, as well as initiatives to establish a unified Gulf data center for the disabled and a discussion of ways to better protect children against violence are among the topics to be discussed at the GCC labor and social affairs ministers’ meeting tomorrow.. ..Regarding Arab accords on the protection of children and women against domestic violence, the minister said the meeting would discuss a special report on domestic violence in Gulf countries, its social impact and problems. Another report on ways to further support women in social development in the six Gulf countries will also be discussed by the ministers, Al-Akkas said.." [more]

Saudi Arabia to See $8b IPOs Next Year [Nov 12]
"Some 40 firms will sell shares to the public in Saudi Arabia in 2008, in offerings worth up to $8 billion, or twice this year's total, the investment banking arm of state-owned National Commercial Bank (NCB) said yesterday. 'We may see 30 to 40 companies,' Hasan Al Jabri, head of investment at NCB Capital, told a conference in Riyadh.. ..'The 40 companies who have announced that they would like to go for an IPO next year are talking about less than $8 billion.' Jabri said there had been about 25 initial public offerings in Saudi Arabia in 2007, which raised a total of around $4 billion.." [more]

Saudi Stocks Fall Slightly [Nov 12]
"The Saudi stock index dropped slightly yesterday after rising to nearly one-year high on Saturday. The Tadawul All-Share Index (TASI) fell 4.31 points to 9,074.34 after reaching 9,078.65 points on Saturday, its highest close since Nov. 1, 2006.In the banking sector, the only gainer yesterday was Banque Saudi Fransi as its shares increased 1.29 percent to SR78.. ..Shares of 57 companies were in the red while 32 companies were in positive territory yesterday. Over SR9.26 billion worth of shares changed hands yesterday.." [more]

~~~~~~~~ [ Nov 11] ~~~~~~~~~

King Seals Turkish Partnership, meets Mubarak [Nov 11]
"King Abdullah, Custodian of the Two Holy Mosques, held talks here Saturday afternoon with Egyptian President Hosni Mubarak on the Palestinian issue, the Turkish-Iraqi problem over Kurdish militants and the Iranian nuclear controversy among other regional matters.. ..A Saudi-Turkish joint communiqué issued at the end of the visit - the first during the King's current tour - said the two sides would step up cooperation on regional issues, exchange high-level visits regularly, and coordinate in political, cultural, security and legal matters, especially regarding combating terrorism and crime. The two countries 
agreed to enhance bilateral trade and business, open branches of banks in each country, and encourage bilateral investments.." [more]

GCC to Focus on Security at Summit [Nov 11]
"Leaders of the six Gulf Co-operation Council (GCC) member states are to hold their annual summit in Qatar on December 3-4, the bloc’s chief said yesterday. The heads of state will focus on “Gulf security” at their meeting in Doha, HE Abdulrahman al-Attiyah said. This year’s summit 'is important given the regional situation, chiefly the continuing deterioration of the situation in Iraq and the escalation between Iran and the West over its nuclear programme,'.. ..foreign ministers from Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates would hold a preparatory meeting for the summit in Doha tomorrow.." [more]

Money Supply in Saudi Tops 19pct [Nov 11]
"Growth in Saudi money supply, an indicator of future inflation, accelerated to 19.4 per cent in September, up slightly from the month earlier, paced by investments in time and savings deposits. M3, the broadest measure of money circulating in the Saudi economy, rose to 744.13 billion riyals ($198.4bn) at the end of September, compared with 623.46bn a year earlier, the Saudi Arabian Monetary Agency said. M3 grew 18.8pc in August and 21.5pc in July, the fastest annual increase since November 2004. Saudi inflation climbed to its highest in at least a decade, 4.89pc, in September.." [more]

Saudi Investors Urged to Tap Philippine Prospects [Nov 11]
"Pointing out that some major Saudi businessmen, including Prince Alwaleed ibn Talal, have invested in the Philippines, a senior Philippine diplomat has called on prospective Saudi investors to explore trade and investment opportunities in the Philippines, including Mindanao, in the south. Addressing the 2nd Integrated Mindanao Economic Forum (IMEF) at the Philippine Embassy in the Diplomatic Quarter on Friday, Nestor N. Padalhin, deputy chief of mission and consul general, said on behalf of Ambassador Antonio P. Villamor ? who is in Jeddah to attend the OIC-mediated peace talks between the Philippine 
government and the MNLF ? that Prince Waleed bin Talal's multimillion investment in the Philippines in hotel sector is a good indication and would encourage more Saudi to invest in the country.." [more]

Saudi Index Posts Fresh 1-yr Closing Peak on STC [Nov 11]
"Saudi Arabia’s main index hit a fresh one-year closing high yesterday as Saudi Telecom Co offset declines in banking stocks that had rallied this month. The index of the Arab world’s largest stock market rose 0.22% to 9,078.65 points, extending gains for the sixth time in seven trading days that have taken it to its highest close since November 1, 2006. Saudi Telecom rose 1.4% to 72.25 riyals ($19.27), compared with price targets of 76.35 riyals and 88.50 riyals from SICO investment bank and National Bank of Kuwait, respectively. Saudi Basic Industries Corp (Sabic) also added 0.8%. Shares of the world’s largest chemicals firm by market value have surged about 50% this year.." [more]

SR2bn Landmark Project Planned in Jeddah [Nov 11]
"A 'world-class' real estate property is being planned in central Jeddah, which is described as a SR2 billion landmark project. “The project includes offices, residential apartments, a five-star hotel and high-end retail,” Dr. Mohamed A. Kashgari, CEO retail division, Savola Group, said in his announcement on the sidelines of a contract signing ceremony at the Jeddah Hilton yesterday.. ..The project has been planned as an integrated mixed use development including offices up to 123,000 sq m, residential apartments of 77,000 sq m, a five-star hotel of 30,000 sq m and high-end retail of about 36,000 sq 
m. There will be parking for 4,000 cars.." [more]

Saudi Bans Poultry Imports From Canada [Nov 11]
"The Saudi agriculture ministry has imposed a temporary ban on the import of live chicken and chicken products from Canada due to reports of bird flu there. The Saudi press agency said the ban follows reports from World Organization for Animal Health that confirmed reports of bird flu in the Regina province of Canada.. ..The Saudi Arabian decision comes close on the heels of a ban by Ukraine on Canadian poultry imports.." [more]

Group Demands Probe on Filipina Maid's Death in Riyadh [Nov 11]
"Overseas Filipino workers group in the Middle East are demanding an independent investigation into the death of a Filipino domestic worker in Riyadh. The Kapatiran sa Gitnang Silangan told the Philippine Embassy in Saudi Arabia that they doubt a report that Anita Carvajal Morales committed suicide inside a Riyadh police station.. ..The body has been brought to the National Bureau of Investigation for autopsy.." [more]

Experts Call for Solving Jeddah’s African Problem [Nov 11]
"Experts say that huge numbers of illegal Africans living in the southern parts of Jeddah is a problem that, if left unattended, could lead to massive demographic changes in Jeddah within 50 years, Al-Watan newspaper reported. 'The authorities need to act quick and do something,' said Ihsan Tayeb, a social scientist. 'The authorities need to benefit from the large number of illegals in the southern parts of Jeddah by changing their social status and giving them a priority in jobs that Saudis are reluctant to do,' he added. Authorities have failed to effectively deport illegal Africans simply because identifying their country of origin has been an impossible task.." [more]

Nov 4 -Nov 10, 2007

~~~~~~~~ [ Nov 10] ~~~~~~~~~

Saud Approves Rules for Curbing Chemical Weapons [Nov 10]
"Foreign Minister Prince Saud Al-Faisal has approved an executive bylaw for the implementation of an international convention prohibiting the development, production, stockpiling and use of chemical weapons and their destruction. The issuance of a national law and an executive bylaw implementing the convention reflects Saudi Arabia’s resolve to eradicate weapons of mass destruction. The new bylaw will be applied 90 days after its publication in the official Um Al-Qura gazette.The chemical weapons law, which was passed by the Cabinet in 2005, prevents the development, production, possession, 
preservation, storage and transportation of chemical weapons. It also dictates that all chemical facilities must be accessible to inspectors.." [more]

Saudi Showcase Opens OPEC To The World [Nov 10]
"With oil prices bent on hitting US$100 a barrel as soon as next week, and energy consumers around the world increasingly fretting about where the next oil supplies will come from, cloistered Saudi Arabia, the world's largest oil producer, is taking an unusual step: borrowing a page from marketing-savvy Western organizations and putting on a charm offensive on a grand scale. The occasion is the Third OPEC Summit, hosted by the Kingdom's oil minister, Ali Al-Naimi, in Riyadh next week.. ..'This meeting looks like it's a showcase,' said Bob Skinner, a former director of the Oxford Institute for Energy Studies and an expert on the global oil industry who now works in Calgary. 'It's to be commended. The King probably wants to say, 'We are not a bunch of jihadis, Al-Qaeda apologists. We are open.' And in a way they are sending a signal to Al-Qaeda and those in Saudi Arabia who would want to close Saudi Arabia to the outside world.." [more]

Egypt-Saudi Start Talks on Palestine [Nov 10]
"Egyptian President Hosni Mubarak hosts Saudi Arabia's King Abdullah to discuss regional affairs ahead of Israeli-Palestinian talks in Maryland this month. The Mubarak-Abdullah summit will focus on Iraq, the results of King Abdullah's recent European tour, and the upcoming Annapolis conference regarding the Israeli-Palestinian issue in Maryland later this month, the Kuwait news agency KUNA reported Saturday. Mubarak told an Egyptian news agency he hoped the Annapolis conference would meet the expectations of all parties involved to achieve a lasting peace.." [more]

14 Saudis Return Home From Guantanamo [Nov 10]
" Saudi authorities received a group of 14 Saudis Saturday from the U.S. military prison at Guantanamo Bay, Cuba, the state-run-news agency reported. This latest transfer of detainees brings the number of Saudi nationals remaining in Guantanamo to 22, the Saudi Press Agency said. It quoted Interior Minister Prince Nayef bin Abdul Aziz as saying that those returned will be referred to Saudi courts. There were no details given about what charges the men may face in court and up until now no one released into Saudi custody has yet been tried, said officials. U.S. authorities' last transfer of Saudis from Guantanamo was in September when 16 prisoners were returned.." [more]

Opec Exports to Hit Record $658bn [Nov 10]
"Opec member nations are expected to rake in a record $658bn this year from their oil exports and then see their business grow by $104bn next year, the US government’s top enm Exporting Countries are flush with cash from rising global oil demand and high crude prices, which for US oil has nearly doubled from its low at the beginning of the year to a record $98.62 hit this week. High prices will lift Opec’s net oil export revenues by $53bn, or 9%, for 2007, compared with last year, based on new estimates from the US Energy Information Administration. The oil producer group is set to ship a record $762bn in oil 
during 2008, 16% more than this year.." [more]

SABIC, Banking Stocks Take TASI Above 9,000 [Nov 10]
"Saudi stocks kept up their strong performance for the third week in a row last week, apparently propelled by rising crude prices and third quarter corporate profits. The Tadawul All-Share Index (TASI) climbed 5.07 percent last week, closing at 9,058.59 points from 8,621.45 points the previous week. The Riyadh-based Bakheet Investment Group (BIG) said in its weekly report that the index broke the 9,000 points hurdle as the highest record for the past 12 months, gaining 18 percent since Oct. 6. So far the index is 14.2 percent higher than year’s start.." [more]

~~~~~~~~ [ Nov 9] ~~~~~~~~~

Anti-corruption Group Wins Hearing on Suit Challenging End of BAE-Saudi Probe [Nov 9]
"Britain's High Court on Friday ordered a full judicial review of the government's decision to stop an investigation into alleged corruption by BAE Systems in an arms deal with Saudi Arabia. Lawyers for the Campaign Against Arms Trade argued that the decision to stop the inquiry was unlawful under the Organization for Economic Cooperation and Development's anti-bribery convention. Then Prime Minister Tony Blair had taken responsibility for the decision, saying the investigation threatened national security interests. Lord Justice Alan Moses, sitting with Justice Stephen Irwin, said 'matters of concern and public importance' had been raised and the challenge 'cries out for a hearing.'.." [more]

China Seeks 30 Percent Increase in Saudi Oil Imports [Nov 9]
"China has asked for a 30 percent increase in crude oil imports from Saudi Arabia for 2008 and also aims to raise imports from Iran, partly to feed two new refineries amid steady demand growth, trading sources said on Friday. Sinopec Corp, Asia's top refiner, wants to increase Saudi crude imports to 600,000 barrels per day for next year, up from this year's 460,000 bpd, a trading source close to the supply talks told Reuters. The supply pact, pending Saudi confirmation, would foster closer energy ties between Beijing and Riyadh, while maintaining the kingdom as China's top oil supplier. China is keen to secure more long-term fuel supplies while the Saudis are building a refinery in China and looking to invest in a second one.." [more]

Saudi King Urges Iran to Avoid Escalating Tensions With West [Nov 9]
"Saudi Arabia's King Abdullah urged Iran to avoid escalation in its standoff with the West over its nuclear program as Israel's deputy prime minister called for the resignation of the head of the UN nuclear watchdog. King Abdullah called for a solution that would allow Tehran to use atomic energy for peaceful purposes.. ..'The world fears that Iran's nuclear program will lead to developing nuclear weapons. Iran has announced its nuclear program is intended for peaceful use,' the king said in an interview with German newspaper Frankfurter Allgemeine, carried by the official Saudi news agen-cy SPA. 'If this is the case, then we don't see any justification for escalation, confrontation and challenge, which only makes issues more complicated.'.." [more]

Saudi King Abdullah to Receive State Medal in Ankara Visit [Nov 9]
"King Abdullah of Saudi Arabia will begin a visit to Turkey today as part of a four-nation Europe tour that has already taken him to Britain, Italy and Germany.. ..The Saudi king will be the eighth foreign leader presented with the State Medal of Honor in Turkey. The award is given to foreign statesmen who have built cooperation between their countries and Turkey as well as to former Turkish chiefs of general staff and presidents. The late Azerbaijani President Haydar Aliyev was the first foreign leader awarded a state medal, in 1997. Other recipients include late the Bosnia-Herzegovinian President Alija 
Izetbegovic, Egyptian President Hosni Mubarak, the late Croatian President Franjo Tudjman, former President of Georgia Eduard Shevardnadze and former US President Bill Clinton.." [more]

Saudi Arabia: Release Peaceful Reformers [Nov 9]
"King Abdullah should immediately pardon two leading reformers sentenced by a Saudi court on Wednesday for encouraging a peaceful demonstration, Human Rights Watch said today. Judge Ibrahim Husni of the Partial Court in Buraida, north of Riyadh, sentenced Professor Abdullah al-Hamid and his brother ‘Isa al-Hamid to four and six months in prison, respectively.. ..'This verdict against the al-Hamid brothers shows that the Saudi government’s talk of human rights reform is just that – talk,' said Sarah Leah Whitson, Middle East director at Human Rights Watch. The incident, which led to the two men’s 
prosecution, occurred on July 16, when several women whose husbands and relatives had remained in Saudi intelligence prisons for over two years without charge, trial or access to legal counsel staged a peaceful demonstration in front of intelligence offices in Buraida to demand the release or trial of their relatives.." [more]

Saudi Regulator Bans 82 Websites [Nov 9]
"The Saudi Capital Market Authority (CMA) yesterday decided to block 82 websites accused of giving advice on Saudi shares without obtaining a licence from the authority. In the past the authority had banned these websites, but this is the first time that action has been taken against so many. This indicates that the CMA is closely monitoring parties involved in matters related to the Saudi stock market.. ..It did not disclose the names of parties whose websites were blocked. Some writers, under different names, use websites to offer paid consultations and analysis of the situation on the shares of companies enlisted in the Saudi stock market.." [more]

Jadwa Becomes First Saudi Firm to Take Part in Aramco Venture [Nov 9]
"Saudi Arabia's Jadwa Investment has become the first domestic company to participate in a joint venture with state oil giant Saudi Aramco, an industry source said yesterday. ExxonMobil sold Jadwa its 30 per cent stake in the Saudi Aramco Lubricating Oil Refining Company (Luberef) earlier this week, the companies said in a statement. They did not detail the investment, but one industry source said the deal was worth about $500 million.. ..Domestic investors will have another opportunity to buy into Aramco's refining business in January when Aramco and Japan's Sumitomo Chemical plan to sell a 25 
per cent stake in their $9.8 billion joint refining and petrochemical venture PetroRabigh.." [more]

Saudi-US Cooperation to Boost Cancer Awareness [Nov 9}
"The first batch of Saudis will be leaving for the United States within the next few months as part of the US-Middle East Partnership for Breast Cancer Awareness and Research, signed between the US and Saudi Arabia last month.. ..'The basic plan is to begin within a couple of months with exchanges of visits. In addition, Saudi men and women will be given training opportunities,' Al-Amro said. The US-Middle East Partnership for Breast Cancer Awareness and Research is the first joint cooperation program between the US and Saudi Arabia in the fight against cancer. US First Lady Laura Bush witnessed the signing of the agreement during her visit to the Kingdom last month.." [more]

Enel to Launch Energy Projects in the Kingdom [Nov 9]
"A major Italian company Enel has announced to launch a series of energy projects in the Kingdom following the signing of an MOU with Saudi Arabian General Investment Authority (SAGIA).. ..'This accord is an important opportunity for Enel and Italy to strengthen cooperation with the Kingdom, which plays a key role in global energy sector,' said Conti, adding that Enel is proud to participate in various projects in Saudi Arabia. 'The MOU offers us an opportunity to apply the most advanced innovations in the generation, transport and distribution of electricity on a large scale,' Conti said.." [more]

~~~~~~~~ [ Nov 8] ~~~~~~~~~

Merkel Backs King’s Peace Initiatives [Nov 8]
"Custodian of the Two Holy Mosques King Abdullah yesterday began a landmark state visit to Germany where Chancellor Angela Merkel offered her country’s full support to the king’s peace initiatives to resolve global conflicts. 'We know that you have dedicated your efforts to settle conflicts through peaceful means. We’ll cooperate with you in this area to solve all problems peacefully. This applies not only to your region but the whole world,' Merkel told the king.. ..Merkel’s spokesman said that apart from bilateral issues and trade relations, the two leaders would discuss the Middle East conflict ahead of the peace conference called by US President George W. Bush later this month. The standoff over Iran’s nuclear enrichment program, the crisis in Pakistan and the situation in Afghanistan were other possible themes.." [more]

Popular Capitalism Takes Root in Saudi IPO Boom [Nov 8]
"Popular capitalism is taking root in the Arabian Gulf with the boom in stock market flotation's, led by record offerings in Saudi Arabia, according to financial industry observers. The most active initial public offering (IPO) market and largest economy in the Middle East - comes under the spotlight next week at the 2nd Saudi IPO Summit from 10-14 November 2007 at the Four Seasons Hotel, Riyadh, under the patronage of Prince Salman Ibn Abdul Aziz Al Saud, Governor of Riyadh. 'Increasingly Saudi Arabian companies are going public to raise capital and benefit from the confidence of local investors,'.." [more]

GCC Mulls Defense Boost [Nov 8]
"Gulf Arab defense ministers met in Saudi Arabia yesterday to discuss joint defense against 'emerging regional powers', which diplomats said was an apparent reference to Iran. We are here to discuss developing defense in the Gulf countries.. .. in the light of changing sources of threat, the rise of the terrorism danger and emerging regional powers,' Deputy Saudi Defense Minister Prince Abdulrahman bin Abdulaziz told a meeting of the Gulf Co-operation Council.." [more]

Positive Impact of Rising Oil Prices on Saudi Stocks [Nov 8]
"Positive corporate earnings news, record high oil prices and improved investor sentiment sent Saudi stocks soaring yesterday. The Tadawul All-Share Index (TASI), which crossed the 9,000-barrier on Tuesday, continued to surge to close 52.50 points higher at 9,058.59. The index is 14.18 percent, or 1,125.30 points higher so far this year after falling over 52 percent last year. Saad Al-Salimi, a stock market observer, said the current behavior of the Saudi stock market reflected the keenness of Saudi investors to hold the market index from sliding down to 7,000 points.." [more]

Dutch and Filipino Groups Visit Kingdom [Nov 8]
"Dutch and Philippine delegations are visiting the Jeddah Chamber of Commerce and Industry to promote opportunities for trade and technical cooperation between the countries. The Dutch delegation included a group of 12 specialists in the fields of water and sanitation networks aimed at promoting opportunities for technical and commercial cooperation.. ..the Philippine delegation also reviewed the economic relations between the two countries and ways of developing them. Mustafa said the Philippine delegation has introduced a number of investment opportunities, particularly in commercial food 
products, spices, fish and pharmaceutical products.." [more]

Clerics Ban Koranic Ringtones [Nov 8]
"A Saudi-based Muslim clerics’ organisation has banned the use of Koranic verses as mobile phone ringtones after a six-day meeting in the holy city of Mecca, a statement said today. 'It is forbidden to use verses of the Koran as mobile telephone ringtones because any such use would damage the Koran by their abrupt interruption of the psalm verses or by sounding in inappropriate places,' said the fatwa, or religious edict, issued by the Islamic Jurisprudence Council. Around 70 Muslim clerics attended the meeting in Mecca.." [more]

Q & A With Afnan al Shuaiby [Nov 8]
"Dr. Afnan Abdullah Mansour al Shuaiby is the first woman to occupy the post of Secretary-General of the Arab-British Chamber of Commerce since it was established in 1975. Dr. Afnan, from Saudi Arabia, embarked on her position in London last July coming from Washington where she was an adviser to the chairman of the US-Saudi Arabian Business Council since 1998. Well-experienced in the business world, Dr. Afnan al Shuaiby had also joined the Abu Dhabi Investment Agency in Washington in 1996 as an adviser. Asharq Al-Awsat interviewed Afnan al Shuaiby at the Chamber's headquarters in central London. The interview proceeded as follows:.." [more]

Saudi Inflation in Sep Hits Highest in a Decade [Nov 8]
"Saudi inflation climbed to its highest in at least a decade in September, raising pressure on the world’s biggest oil-exporter to heed growing discontent over prices without straining its currency peg to the dollar. Rent and food costs pushed inflation in Saudi Arabia to 4.89% at the end of September, compared with 4.42% in August, Central Department of Statistics data showed yesterday. 'There is a marked shift in Saudi Arabia, which had gone through a period of very low or no inflation,' said Monica Malik, senior economist at Cairo-based EFG-Hermes 'It’s an area that they are concerned about,'.." [more]

MTV Of Arabia [Nov 8]
"And they’re getting it. MTV Arabia, a free satellite channel from Viacom, debuts Nov. 17 in the Middle East. The flagship program is called 'Hip Hop Na,' or 'My Hip Hop.' Hip-hop is a growing underground sensation in cities like Cairo, Dubai and Beirut, where the rap is often in Arabic. The network will broadcast music videos, original programs and versions of shows such as 'Cribs' and 'Pimp My Ride' to about a dozen nations, including Bahrain, Egypt, Saudi Arabia, Syria and Yemen.. ..While MTV has launched customized channels around the world, MTV Arabia presents special challenges with a region that shares a language but has varied cultural sensitivities.." [more]

~~~~~~~~ [ Nov 7] ~~~~~~~~~

Saudi King Abdullah to Visit Germany, Meet Merkel for Talks [Nov 7]
"Saudi Arabia's King Abdullah was to arrive Wednesday in Germany, where he was expected to hold talks with Chancellor Angela Merkel on developments in the Middle East.. ..Merkel is to receive Abdullah with military honors at the chancellery Wednesday, then hold talks with him that her spokesman, Ulrich Wilhelm, has said are to focus on developments in the Middle East. No news conference is planned. Merkel met Abdullah in Riyadh during a tour of the region in February. On Wednesday evening, the king also is to meet German President Horst Koehler.." [more]

Saudi Idea Ignores Iran's Rights [Nov 7]
"An Iranian MP says Saudi Arabia's proposal for setting up a uranium enrichment consortium outside Middle East disregards Iran's rights. 'This proposal - which aims to put an end to uranium enrichment in Iran - disregards Iran's rights,' said member of the Majlis National Security and Foreign Policy Commission, Elham Amin-Zadeh, Kuwait's Al-Watan paper reported Wednesday. 'This proposal is along the lines of similar suggestions previously put forward by Iran's neighbors,' she added.." [more]

Arab World Needs to Create 90m Jobs in Next Two Decades [Nov 7]
"The Arab world needs to address the issue of unemployment and how to create jobs for their citizens, according to Sultan bin Saeed Al Mansouri, UAE Minister of Governmental Sector Development.. ..He said: 'Addressing the issue of unemployment is a common responsibility and all government and private sector bodies should join forces with educational and training institutes to attain the optimum standard of efficiency and competence to tackle it.' Al Mansouri said the Arab World needed to create more than 90 million jobs in the next two decades and regretted the absence of any practical measures to tackle the problem.." [more]

Saudi Arabia to Purchase Russian Helicopters [Nov 7]
"Saudi Arabia plans to acquire a bulk consignment of Russian helicopters. On the whole the armed forces of the country will be supplied with 150 aircrafts including Mi35M and multi-role Mi17. The total cost of the deal will approximately amount to $2.2 billion. Besides, Saudi Arabia is going to purchase spare parts and weapons as well as to sign an education services agreement implying staff training.." [more]

Saudi Arabia Faces More Commodity Price Rises [Nov 7]
"Consumer goods in Saudi Arabia will continue to grow costlier due to the high price of oil and the riyal's peg to a weakening dollar, Fahd Al Hammadi, a member of the Riyadh Chamber of Commerce and Industry and chairman of the chamber's committee for development of small- and medium-scale enterprises, said yesterday. 'I expect [the] increase in prices of consumer products in the Kingdom to reach around 20 per cent during the first quarter of next year due to the global demand,'.. ..Al Hammadi said traders were exploiting the situation and not utilizing their stocks properly.." [more]

UK Land Investment Offer in Kingdom [Nov 7]
"UK Land Investment International, a major British retail land investment company, has appointed Fathi Taleb Real Estate Est. as its local marketing agent in a contract that was signed in Jeddah last week.. ..Muhammad Fathi Taleb. 'The land will give you a return over time but has the tangibility of a physical asset, unlike typical stocks and shares,' he added. He explained that the new investment route requires some patience and a five to seven year period to maximize returns. The nature of the investment, yet-to-be-developed-land, is located in areas that are extremely likely to be developed in the near future. 'This is likely because the land is not far from developed urban areas, is within easy distance of London and located in the southeast of the UK. There is a very high promise of substantial returns,'.." [more]

Saudi Inflation Highest in a Decade [Nov 7]
"Annual inflation in Saudi Arabia accelerated in September to 4.8%, the highest level in at least a decade, due to strong rent and food prices, Central Department of Statistics data showed on Tuesday. September marked the fifth month running that the annual inflation rate had risen in the world's largest oil exporter as rent prices jumped 11% and food 7.2%. 'It was expected to see inflation rising in September since we had the Ramadan factor,' said John Sfakianakis, chief economist Saudi Arabia's SABB bank.. ..Inflation is accelerating across the Gulf as governments invest more of their windfall oil revenue in tourism projects and infrastructure.." [more]

Nigeria: Hajj 2007 - Fake Saudi Currency in Circulation [Nov 7]
"As preparations for the 2007 Hajj gather momentum, intending pilgrims have been alerted to the circulation of fake Saudi currency (riyals) in the country. The Niger State director of the National Orientation Agency, Alh. Danladi Abdulhameed, warned intending pilgrims to desist from patronising conmen who were peddling fake Saudi currency. Abdulhameed advised would-be pilgrims to liaise with the pilgrims welfare board for the exchange of their naira to riyals.." [more]

Petchem Shares Lift Saudi Benchmark [Nov 7]
"Petrochemical stocks lifted Saudi Arabia’s bourse above 9,000 points for the first time in more than a year yesterday as high oil prices and an interest rate cut boosted the appeal of stocks in the kingdom.. ..Saudi Basic Industries Corp (Sabic) added 0.81%, having gained more than 46% this year. Saudi Kayan Petrochemicals Co jumped 9.38%. 'Investors are very positive about Sabic’s fourth-quarter results,' says Hesham Abou-Jamee, head of asset management at Bakheet Financial Advisors. High oil prices increase the likelihood of a rise in petrochemical prices, he added. The Saudi central bank last week left its benchmark repurchase rate, which banks use to set lending rates, unchanged at 5.5% after the US reduced its benchmark rate by 25 basis points.." [more]

~~~~~~~~ [ Nov 6] ~~~~~~~~~

Saudi King Has Historic Audience With Pope [Nov 6]
"King Abdullah of Saudi Arabia had a historic audience on Tuesday with Pope Benedict XVI on the first official visit to the Holy See by a monarch from the ultra-conservative Muslim kingdom.. ..The Holy See does not have diplomatic ties with Saudi Arabia, which is home to Islam's holiest shrines in Mecca and Medina and applies a rigorous doctrine of Sunni Islam known as Wahhabism. Foreign Minister Saud al-Faisal came to Rome in September to pave the way for the meeting, which had been expected to focus on the rights of Christians in Saudi Arabia and Islamic-Christian relations in general. Abdullah's visit comes as relations between the Vatican and the Muslim world have eased since the crisis provoked in September 2006 when Benedict appeared to link Islam with violence in a speech at Regensburg University, Germany.." [more]

Philippine Court Allows Detained Muslim Leader to Fly to Saudi Arabia [Nov 6]
"A Philippine court allowed the detained founder of a Muslim rebel group Tuesday to travel to Saudi Arabia to review a peace pact he signed with the government. Nur Misuari — leader of the Muslim rebel Moro National Liberation Front who is under house arrest — was allowed to fly to Jeddah for the Nov. 10-12 talks being mediated by the Organization of the Islamic Conference. Misuari signed a historic 1996 peace accord with the government but was arrested in 2001 after his followers launched a deadly attack.. ..The MNLF dropped its demand for independence in favor of limited autonomy when it signed the pact, which put five predominantly Muslim provinces and a city in the south into an autonomous region. Misuari became the first governor of that autonomous region.." [more]

Saudi Aramco Offering to Finance Joint Venture [Nov 6]
"Saudi Aramco, the world's largest oil company by output, will sell shares to the public for the first time when its joint venture refinery with Sumitomo Chemical Co. offers a 25 per cent stake to investors. The 50-50 joint venture will sell 219 million shares of PetroRabigh Jan. 5-12, the kingdom's Capital Market Authority said yesterday in a statement posted on the Saudi Stock Exchange's website. The price will be determined via book building, the statement said. Demand for the offering, which will only be open to Saudi nationals, "will be phenomenal," Shadi Zubeidi, head of investment banking advisory at Saudi-Swiss Securities, said.." [more]

Saudi Curriculum to be Made Available Online [Nov 6]
"Saudi Arabian Education Minister Dr. Abdullah al Obeid has affirmed that there is no hidden agenda in the kingdom’s educational curriculum, as some have maintained. He also confirmed that all textbooks taught in Saudi Arabia are expected to be uploaded and available on the ministry’s website soon. This move aims at making the educational curriculums accessible to all students, teachers and researchers. Following the launch of the Saudi Ministry of Education’s web portal last Sunday, November 4 in Riyadh, Dr. al Obeid stated that all critics who had been spreading misleading lies about the Saudi curriculum will be able to visit the website for themselves to find out the truth.." [more]

Saudi Stocks Stay Unchanged [Nov 6]
"After surging first two days of trading this month, the Saudi stock market closed almost unchanged yesterday. The Tadawul All-Share Index (TASI) closed at 8,868.58 points. In the banking sector, shares of Samba Financial Group jumped by 5.48 percent to SR139.50 and SABB by 4.76 percent to SR121. Shares of Saudi Hollandi Bank, Bank AlJazira and Arab national Bank declined yesterday. Saudi Electricity Co. (SEC) shares plunged 5.66 percent to SR12.50.. ..Faisal Al-Othman, financial analyst and member of the Saudi Economic Society, said the Saudi stock market has presently reached a turning point in its history with the general index hovering around 9,000 points.." [more]

Saudi Arabia Awards $535m Water Contract to ICODC [Nov 6]
"The Saudi Arabian Minister of Commerce and Industry signed a $535 million contract with Industrial Cities Development and Operation Company Ltd. (ICDOC) in Saudi Arabia for the management of water services in three industrial cities, Arab News reported. The minister stated that the 30-year contract is considered unique as it provides comprehensive water services, while meeting all the environmental and water needs of the industrial cities through ROT (rehabilitate, operate and transfer) contracts. He indicated that signing the deal comes in line with the ministry's strategy to privatize water services within the industrial cities to become integrated entities.." [more]

Saudi Arabia and Bahrain in Cross-Border Travel Pact [Nov 6]
"Saudi Arabia and Bahrain have agreed to allow their citizens to travel to the other country using their national identity cards. A joint statement to this effect was signed in Riyadh on Sunday evening by Saudi Interior Minister Prince Naif Bin Abdul Aziz and his Bahraini counterpart Lieutenant General Shaikh Rashid Bin Abdullah Al Khalifa. Earlier citizens had to present their passports to travel to the other country. Saudi Arabia has signed similar agreements with Oman and the UAE. Agreements with Qatar and Kuwait are expected to be signed soon, according to Prince Naif.." [more]

Offers for Fencing Iraq Border Under Study, Says Naif [Nov 6]
"Saudi Arabia is currently studying offers from 14 local and international companies, which are interested in constructing the wall the Kingdom plans to build along its border with Iraq. 'We are now in the process of evaluating the proposals and the implementation will begin soon,' Prince Naif told reporters on Sunday evening. Saudi Arabia announced last year that a wall would be built along its border with Iraq as a security measure to hinder the movement of people in both directions.." [more]

Oil Sets New Record Above $96 [Nov 6]
"Oil leapt more than $2 a barrel to a new record high of $96.44 on Tuesday, as a weak dollar and tight fuel stocks prompted buying by speculators. Investors, wary of global equity markets where the full impact of the credit crunch has yet to become clear, see oil as a good bet, especially given tight fuel supplies in the run up to the northern hemisphere winter. US crude rose $2.23 to $96.21 a barrel by 8:46 a.m. EST, putting it on course to test the $100 mark.. ..Oil's surge from below $70 in mid-August has been stoked by a weak dollar and speculative inflows into oil and other commodities - and extended by evidence of dwindling supply.." [more]

~~~~~~~~ [ Nov 5] ~~~~~~~~~

Abdullah Arrives in Italy Today [Nov 5]
"King Abdullah Bin Abdul Aziz, Custodian of the Two Holy Mosques, is scheduled to begin an official visit to Italy today. This will be the second leg of his second European tour which he started with his visit to Britain. He will pay visits to Germany and Turkey as well.. ..King Abdullah will meet with Italian President Giorgio Napolitano at the Cozoprotalieh Palace. Following a reception, they will hold official talks during which they will review all the bilateral relations dossiers and the means to boost Saudi-Italian relations in all the fields including the political, economic and commercial fields in addition to discussing the latest developments in the Middle East. The Saudi official delegation will participate in the talks.. ..Tomorrow, King Abdullah will meet with Pope Benedict XVI at the Vatican. This meeting is significant as it is the first time a Saudi king will meet with the Pope of the Vatican.." [more]

Move to Cut US Visa Wait Period [Nov 5]
"Foreign Ministry officials from Saudi Arabia and the United States are negotiating a maximum waiting period for Saudi businessmen applying for American visas, according to the director of the Saudi-US Business Office. Speaking on the sidelines of a Saudi-US meeting held at the Riyadh Chambers of Commerce and Industry, the director, Saud Al-Suwaileh, said if the new measure was adopted, it would slash the waiting time from 90 days to one month. Granting multiple visas valid for five years as opposed to the current two-year visa is another facility which would enhance the flow of mutual investments. Arabic language daily Al-Riyadh quoted Al-Suwaileh as saying that the difficulties encountered by Saudi businessmen in obtaining visas to the US to invest or sign business partnership agreements with American firms has been a major hurdle to joint investments.." [more]

Business Comment: UK is Tied to Saudi Arabia [Nov 5]
"The media coverage of last week's visit by the Saudi king was dominated by protests about his country's human rights record. But much of the serious talking at the meetings between Saudi and British officials was about trade and economic issues. Moreover, as well as the sense of our security interests being intertwined, the belief that economic interests are so important has dictated that we maintain a close and friendly relationship with Saudi in particular, but also with the whole of the Arab Middle East. Yet just how important is this region economically, and how important is our relationship with it?.." [more]

Saudi Aramco Backs Arab Thought Foundation's Fikr 6 Conference [Nov 5]
"Saudi Aramco announced it will be a partner and sponsor of the Arab Thought Foundation Conference (Fikr 6) set to take place in the Kingdom of Bahrain, under the patronage of His Majesty King Hamad bin Isa Al Khalifa, in December.. ..Event's executive director and Arab Production Company chairman Hamad Al Ammari says Saudi Aramco has a global reputation for high and distinct efficiency not only in the oil sector, but is also considered one of the leading establishments in the domain of local and global development as well.. ..The event is being hosted for the sixth year, by the Arab Thought Foundation a 
non-profit organisation, whose aim is to promote the unique culture and values of the Arab people.." [more]

GCC Ministers Discuss Security Ties [Nov 5]
"Interior ministers of the Gulf Co-operation Council states met here yesterday. Saudi Interior Minister Prince Naif bin Abdulaziz, who chaired the meeting, stressed the importance of the gathering in bolstering security co-operation among GCC members. The meeting would focus on safeguarding Gulf internal security and fighting terrorism, illegal drugs, money laundering, piracy and smuggling, Prince Naif said.. ..GCC members should exert more efforts to upgrade security co-operation given the fact that the Gulf region would be affected by any looming regional tensions.." [more]

Saudi Arabia Donates 60,000 Tons of Rice to Bangladesh [Nov 5]
"Bangladesh said on Monday it had received 60,000 tonnes of rice donated by Saudi Arabia for distribution among people affected by recent floods. The rice will be distributed among 2.1 million flood-affected families beginning from Tuesday," Foreign Secretary Touhid Hossain told reporters after hosting a visiting Saudi Arabian official. The rice is part of a $50 million donation promised earlier by Saudi Arabia, he said. Saudi Arabia also sent five cargo planes loaded with foodstuffs, blankets, tents, medicines and milk powder in August.." [more]

Saudi Arabia's SABIC Withdraws From Mauritanian Iron Ore Project [Nov 5]
"Saudi Basic Industries Corp said it has decided not to proceed with plans to join a 1.5 bln usd iron ore project in Mauritania. SABIC and Qatar Steel signed an agreement in July to acquire a 49.9 pct stake in the Guelb el Aouj project for 375 mln usd. In a statement, SABIC said it is withdrawing from the joint venture because it believes 'it cannot achieve the return on investment as per its expectations on this project'.." [more]

US Business Group Seeks Collaboration With Saudis [Nov 5]
"A 15-member trade delegation from the United States explored the possibilities of cooperation in trade, distribution, manufacturing and joint ventures with Saudi businessmen in a meeting held yesterday at the Riyadh Equestrian Club. The delegation's visit is under the auspices of the US-Saudi Arabian Business Council. Most members, representing small- and medium-size companies from Pennsylvania, New Jersey and New Hampshire, are here for the first time. 'We are optimistic that the business volume between the three US states and Saudi Arabia will further increase. Our optimism is based on the fact that the Saudi economy is booming,'.. ..Saudi Arabia is the US largest trading partner in the Near East and North Africa and it is the 17th worldwide.." [more]

Banks With Islamic Services Seen Rising 50% Globally by 2009 [Nov 5]
"The number of banks offering Islamic products will increase by 50% around the world by 2009 because of high public demand, the head of a newly-licensed Shariah-compliant investment bank in Bahrain said yesterday. Some might say Islamic banking is a fashion, but it will continue to grow as people feel more comfortable with it, Mark Hanson, chief executive of Global Banking Corp, said on the sidelines of a financial conference in Dubai. Over the next two years, we will see an increase of 50% in banks providing Islamic services globally and Islamic loans are part of that. In Saudi Arabia, for example, there is more pressure from shareholders to see Shariah-compliant products.. ..The Islamic finance industry, worth about $500bn in assets, has been growing at about 10% a year for the last decade, according to ratings company Standard & Poor's.." [more]

~~~~~~~~ [ Nov 4] ~~~~~~~~~

King in Italy Starting Monday [Nov 4]
"The Arab Peace Initiative, need for inter-religious dialogue and regional crises will top the agenda of talks during Custodian of the Two Holy Mosques King Abdullah's visit to Italy.. ..The two sides will also sign a number of agreements in areas including combating terrorism and organized crime, avoidance of double taxation, renewal of defense cooperation and a comprehensive training program for both Saudi technical graduates and medical professionals.." [more]

Housing Credit in Saudi Arabia Likely to Surge to SR46b by 2010 [Nov 4]
"The total size of outstanding housing credit in Saudi Arabia is likely to rise from SR4 billion in 2007 to about SR46 billion by the end of the decade, according to an estimate.. .According to the official statistics, mortgage housing finance in Saudi Arabia is a mere two per cent of GDP as opposed to 17 per cent in Malaysia, 50 per cent in the United States and 72 per cent in the United Kingdom.." [more]

Emir Opens Islam Council [Nov 4]
"Scholars of the Ummah Al-Islamiah must find new solutions to the modern problems facing the Muslim world, said Makkah Emir Prince Khaled Al-Faisal at the opening of the Islamic Fiqh Council. Prince Khaled urged the experts in attendance to face the group "which has strayed away from Islam" - meaning terrorists - "and fight their perversion against Islam." The scholars should stand united to defend Islam and give legal solutions under Islamic code that bring justice to the oppressed and the oppressors, he said.." [more]

Gordon Brown in an Interview with Asharq Al Awsat [Nov 4]
"The Saudis have done more than many to get us to where we are today regarding peace.." [more]

Q & A with British Ambassador to Saudi Arabia, William Patey [Nov 4]
"The visit by the Custodian of the Two Holy Mosques is pivotal in many aspects. What about the economic aspects and the prominent issues involved in it? Can you reveal some of the negotiations and discussions, or agreements that are going to be signed?.." [more]

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