Jan 27 - Feb 2, 2008

~~~~~~~~ [ Feb 2] ~~~~~~~~~

Bomb Hits Residence of Saudi Ambassador to Chad's Residence, Killing 2  [Feb 2]
"A bomb hit the residence of the Saudi ambassador to Chad on Saturday, killing the wife and daughter of an embassy staffer taking shelter from the fighting between the government and rebel forces, according to a foreign ministry statement. The statement carried by the official Saudi press agency quoted an unnamed official as saying that all members of the Saudi mission to Chad had gathered with their families at the ambassador's home as they waited to be evacuated because of the violence.. ..The nationality of those killed was not immediately known.." [more]

Lebanese Druze Leader to Meet Saudi King [Feb 2]
"Lebanese Druze leader Walid Jumblatt will discuss the country's deepening political crisis with King Abdullah of Saudi Arabia this week, Lebanon's information minister said on Saturday. Jumblatt, a prominent lawmaker from the anti-Syrian parliamentary majority and leader of the Progressive Socialist Party, arrived in the oil-rich kingdom late on Friday for a three-day visit, Lebanese Information Minister Ghazi al-Aridi told AFP. Jumblatt is expected to meet the Saudi monarch on Sunday for talks on the 'latest developments in Lebanon,'.." [more]

Saudi Air Force to Participate in Military Exercise in US [Feb 2]
"In line with the approval of Crown Prince Sultan bin Abdulaziz, the Deputy Premier, Minister of Defense and Aviation and Inspector General, the participation of the Royal Saudi Air force in the exercise of the Red Flag-3, 2008, due to take place at Niles base in the United States, the Royal Saudi Air Force Planes which will participate in the Exercise arrived on Friday at the Base. The planes were received by commander of the group of the Royal Saudi Air Force for the mission of the Red Flag-3, 2008.. ..Highlighting the efficiency and capability of the Saudi pilots, al-Assiri said this participations is the third participation for the Royal Saudi Air Force in the exercises of the Red Flag.." [more]

Middle East Sets Focus on Asia [Feb 2]
"..Shifting geographical priorities are combining with the weak US dollar to persuade cash-rich Middle Eastern investors to refocus their portfolios on Asia, including established markets such as Japan, the giant Chinese market and emerging markets such as Vietnam.. ..Energy-hungry Asian countries are desperate to root themselves in the oil-rich Gulf, which will probably produce the world's last barrel of oil. Meanwhile, Gulf states have looked on askance at the rising tide of rhetoric from some Western nations regarding the apparent lack of transparency of sovereign wealth funds.." [more]

No Need to Change Oil Output – Al-Naimi [Feb 2]
"Saudi Oil Minister Ali Al-Naimi said he saw no need to change OPEC's output ceiling during its ministerial meeting Friday, as crude prices tumbled on fears of an economic slowdown.. Most members of OPEC, which pumps 40 percent of world oil, said Thursday that they wished to see official daily output kept at 29.67 million oil barrels. A freeze would be a snub to the United States, the world's biggest energy consumer, after President George W. Bush recently urged OPEC to hike output to help bring down high oil prices that stunt economic growth and fuel inflation.." [more]

Naif Surprised by Inaction on Int’l Anti-Terror Center [Feb 2]
"Minister of Interior Prince Naif Bin Abdul Aziz on Thursday expressed surprise over world inaction on a Saudi proposal for setting up an international center to combat terrorism under the umbrella of the United Nations. The proposal had received worldwide welcome when it was first presented by King Abdullah, the Custodian of the Two Holy Mosques, at the International Anti-Terrorism Conference hosted in Riyadh in 2005. Prince Naif said the fight against terrorism should not focus on terrorist operations but rather on the roots of the scourge. If the roots of terrorism were not dried up, the problem would continue to persist.." [more]

Chairman of Saudi Arabian Parliament to Visit Azerbaijan [Feb 2]
"..the chairman of the Saudi Arabian Parliament will visit Azerbaijan by invitation of Azerbaijani Milli Medjlis speaker Oqtay Asadov. The visitor from Saudi Arabia will take part in jubilee arrangements on the creation of the Azerbaijan Democratic Republic as well as the 90th anniversary of Azerbaijani parliament to be marked in May of 2008. Sheikh Salekh will hold a number of meetings with Azerbaijani officials, including with President Ilham Aliyev, and discuss issues of development and deepening of bilateral relations between the two countries.." [more]

~~~~~~~~ [ Feb 1] ~~~~~~~~~

Saudi Women Face Systematic Discrimination -- UN Report [Feb 1]
"Women in Saudi Arabia are victims of systematic and pervasive discrimination across all aspects of social life, a United Nations report said on Friday. The UN Committee on the Elimination of Discrimination against Women urged the Saudi government to take concrete steps to enforce gender equality and end violence against women.. ..Saudia Arabia is governed by Wahabism, a strict interpretation of Islam that -- in the name of Sharia law -- imposes almost complete separation of the sexes. As such, it is illegal for a woman to be in the company of a man who is not in her immediate family. Women suffer from domestic violence, poor healthcare provision and high levels of illiteracy, the committee said in its report.They are also shackled by the obligation to have a male "tutor" or guardian to accompany them for many daily tasks, it found.." [more]

Saudi Arabia Insists It Will Not Depeg Riyal [Feb 1]
"Hamad Al Sayyari, the governor of the Saudi Arabian Monetary Agency (SAMA), has reiterated the Kingdom's current policy of pegging the riyal with the dollar. He said the slowdown in the US economy will not have much effect on Saudi Arabia. Al Sayyari said there was no change in the Saudi currency exchange rate. 'There is no change in the current policy of the riyal exchange rate,' he said while addressing a forum on financing small and medium-scale enterprises in Riyadh.. ..Asked about what the Saudi authorities will do in case the US Federal Reserve again cuts interest rates by 50 points, Al Sayyari noted that if this happens it will immediately be studied and a decision will be taken.." [more]

Saudi Mortgage Law Nearly Ready [Feb 1]
"Saudi Arabia's advisory Shura Council is examining draft proposals for a long-awaited mortgage law and mortgage financing regulations that will allow more Saudis to own property, the finance ministry said. 'The issuing of mortgage financing regulations, which have been drafted by committee... and are currently being reviewed by the Shura Council... will help establish the whole regulatory framework for the financing of this sector,'.. ..The mortgage law is expected to allow much wider access to property ownership, in a country where only one out of five Saudis owns a home.." [more]

Internet Disruption May Last 10 Days [Feb 1]
"Disruption to communications in Saudi Arabia and throughout the Middle East and South Asia continues due to a cut in two submarine cables in the Mediterranean Sea. Both the FLAG and SEA-ME-WE 4 undersea cables have been cut, off the coast of Egypt near Alexandria.. ..Several Saudi businessmen reported that yesterday afternoon, when placing telephone calls to Europe, their efforts were met again and again with the recorded message 'all lines in this route are busy.' In the coming week, communication across the region will be challenging. It is expected that the problem will grow as companies return to business in Saudi Arabia on Saturday and try to use online services.." [more]

Women-Only Hospitals [Feb 1]
"..Sheikh Abdul Aziz Al-Asheikh, the grand mufti of Saudi Arabia, recently proposed the establishment of women-only hospitals during a symposium in Riyadh entitled 'Applying religion in medical issues.' Describing intermingling of sexes at hospitals as a “disaster” that infringes upon the modesty of Muslim societies, the mufti said medical professionals should only treat patients of the same gender except in time of emergencies.. ..The idea of having single-gender hospitals has attracted mixed reactions from women. Some women feel such hospitals would be convenient, while others are against them.." [more]

Oil Scene: All Options Are Open at OPEC Talks [Feb 1]
"The 147th (extraordinary) OPEC ministerial moot in Vienna today is taking place amid contradictory push and pulls and in a sensitive environment. OPEC ministerials are often under microscope, and this time too it is no different. The world is awaiting the outcome. With President Bush, Samuel Bodman, the IEA, all in chorus for the cartel to open its taps, it’s definitely a tough call. Only a couple of days back the US Energy Secretary Samuel Bodman made it clear that the US would be able to make do if OPEC declined to boost oil production. If OPEC nations fail to raise production, “then that’s what they decide and we’ll move forward,” Bodman said. Clearly OPEC doesn’t want high oil prices to kill the world economy since that would cut crude demand. But if production is increased and the economy stalls anyway, oil prices could collapse — a dicey situation indeed.." [more]

Work Out Change From Within — Brundtland to Saudi Women [Feb 1]
"Former Prime Minister of Norway Gro Harlem Brundtland, who is also the Special Envoy on Climate Change for the United Nations Secretary-General, visited Saudi Arabia last week to speak at the Global Competitiveness Forum. Brundtland spoke to Arab News about the condition of Saudi women.. ..Brundtland is aware of the happenings in the Middle East and the talk of reform in Saudi Arabia. In terms of democracy and bettering women’s conditions in developed countries, the UN can play an important role in opinion making, she said. However, she strongly believes that change should come from within. 'There is no one outside that can force change on Saudi Arabia. The change should come from Saudis themselves,' she said, adding that young Saudis could start change by asking difficult questions.." [more]

~~~~~~~~ [ Jan 31] ~~~~~~~~~

OPEC Favors Holding Output Amid US Pressure for Hike [Jan 31]
"OPEC ministers might debate whether pumping more oil would help revive the world economy when they meet here even though ministers favored no change, the cartel's chief said on Thursday. US President George W. Bush recently called on the Organization of Petroleum Exporting Countries to increase output at its production meeting in the Austrian capital due Friday, to help reduce high oil prices which he claims are weighing on an already weak economy.. ..On Wednesday, OPEC kingpin Saudi Arabia, the world's biggest crude producer, voiced satisfaction at the present levels of crude supply and demand, while other key members said they did not believe there was a need to change output. 'The fundamentals are sound,' Saudi Oil Minister Ali al-Nuaimi had told reporters.." [more]

Saudi Women See a Brighter Road on Rights [Jan 31]
"Buoyed by recent advances in women's rights, advocates for the right of women to drive in Saudi Arabia -- the only country in the world that prohibits female drivers -- say they believe the ban will be lifted this year.. ..Since taking the throne in 2005, Abdullah has championed women's right to work and often takes official trips overseas with delegations of female journalists and academics. The king has said that he does not oppose allowing women to drive but that society needs to accept the idea first.. ..In November, the foreign minister, Prince Saud al-Faisal, told Britain's Channel 4 news that there was no Saudi law prohibiting women from driving.." [more]

Saudi Wage Boost to Cost $16bn [Jan 31]
"Increases in public sector wages, pensions and welfare benefits announced by Saudi Arabia this week will cost the government 60 billion riyals ($16bn), the finance minister said yesterday. Ibrahim Al Assaf said that wages and pensions for public sector employees would be increased by five per cent per year for the next three years. These increases will take immediate effect starting January, he said. The original announcement had said the increases would take place over the next three years without giving details. Saudi Arabia also raised social insurance benefits by ten percent over a three-year period.." [more]

Saudi Investment Rules Attract Foreign Backers [Jan 31]
"Saudi Arabia's investment climate draws international intrest, particularly after its accession to the World Trade Organization (WTO) two years ago.. ..With the booming economy and increased cash flow, the Saudi purchasing power is stronger than ever, he said. 'The high purchasing power in any market means that such a market is strong and healthy. Therefore, it offers any corporate entity the opportunity to avail of the enormous investment potential as consumer needs normally grow in line with the growth of the purchasing power. This positive feature of the Saudi market places it among our most promising global markets,'.." [more]

Emal to Set up $5 Billion Smelter in Saudi Arabia [Jan 31]
"Emal International, a joint venture between Abu Dhabi’s Mubadala Development Company and Dubai Aluminium Company (Dubal), will set up an aluminium smelter complex in Saudi Arabia at cost of $5 billion. The plant’s production capacity will be 700,000 tonnes of raw aluminum in the first phase. The companies have signed an agreement Emaar Economic City to set up the project in the latter’s King Abdullah Economic City (KAEC) development, according to a joint statement. The agreement has the approval of the Saudi Arabian General Investment Authority (Sagia).." [more]

Petrochemicals Boost Saudi Stock Index [Jan 31]
"Saudi Arabia’s Tadawul all share index closed higher for a second consecutive day, helped by gains in Saudi Kayan Petrochemicals Co and Saudi Basic Industries Corp (SABIC). The benchmark, which gained more than 40 percent last year, closed up 1.36 percent at 9,675.02 points. But it is down almost 18 percent since Jan. 15. Kayan gained 6.93 percent and SABIC 0.61 percent.." [more]

~~~~~~~~ [ Jan 30] ~~~~~~~~~

Saudi Probe Put Al-Qaeda Info at Risk [Jan 30]
"Vital information on Al-Qaeda would have been lost if an investigation into alleged corruption by BAE Systems during an arms deal with Saudi Arabia was pursued, Britain’s head of overseas intelligence warned ministers, according to a report released Tuesday. An annual report by the UK’s Intelligence and Security Committee revealed ministers were told the inquiry could have had damaging repercussions on the fight against terrorism, and that British lives would be put at risk if Saudi Arabia ended intelligence-sharing.. ..According to the report MI6 had raised objected to the investigation before the SFO decided to drop the case. Its head, John Scarlett told the committee 'There were threats made to the existence of the cooperation (and) there was reason to take those threats seriously.'.." [more]

Saudi Claims Inflation Will Stabilize at 4% This Year [Jan 30]
"Saudi Arabia's central bank governor said on Wednesday he expected inflation in the world's largest oil exporter to "stabilise" this year at last year's 4.1%.. ..Average inflation in Saudi Arabia, which pegs its riyal to the US dollar, hit a 16-year high of 6.5% in December, partly driven by a rise in global commodity prices and the declining US currency. Al-Sayyari said the kingdom would revise its reverse repurchase rate, which it uses to track US Federal Reserve policy moves, depending on economic conditions. The governor's prediction contrasts with that of investment bank Merrill Lynch, which on Sunday warned that inflation in the kingdom could average 6% this year, up from an average of 4% in 2007.." [more]

HK Offers Saudis 1-Month Free Visa to Woo Investment [Jan 30]
"Starting from next Monday, all Saudi citizens will have the opportunity to receive a one-month free visa to Hong Kong in a move aimed to encourage locals and businessmen to visit the Asian business hub, Chief Executive of Hong Kong Special Administrative Region Donald Tsang said yesterday. Tsang, who arrived on Monday in the Kingdom on his first visit to the country, met Custodian of the Two Holy Mosques King Abdullah in Riyadh. Accompanied by dozens of top executives representing the finest of Hong Kong's business enterprises, his mission was to boost bilateral cooperation and seek joint business ventures in the Kingdom.." [more]

OPEC Won't Raise Quota, May Consider Cut [Jan 30]
" OPEC won't raise output quotas at a meeting this week and may need to cut production in the months ahead because of slowing world economic growth and rising oil inventories, Qatar's energy minister said. `'The world has sufficient supply, even oversupplied in some places,'.. ..The 13-nation group, dominated by its largest producer, Saudi Arabia, will discuss output targets on Feb. 1, then again in Vienna on March 5. An economic slowdown risks further curbing demand for OPEC oil, which declines anyway during the second quarter as the end of winter in the Northern Hemisphere reduces heating needs.." [more]

Saudi Arabia Kills 158,000 Chickens After Detecting Bird Flu Virus [Jan 30]
"Saudi Arabia said it had killed some 158,000 chickens after the deadly H5N1 bird flu strain was found at an infected farm. The birds were killed in Kharaj province, south of the capital, Riyadh, according to a statement by the Agriculture Ministry. About 475 workers were tested, but no human infections were found. The ministry also said more than 4.5 million fowl have been killed in provinces around the capital, but it did not specify when the killing took place. Bird flu resurfaced in November in Kharaj province, in another blow to Saudi Arabia's $10 billion poultry industry.." [more]

Aramco Ranked No. 1 in the Muslim World [Jan 30]
"Saudi Aramco, the world’s top oil producer, is once again the largest business enterprise in the Muslim world, according to business strategy e-magazine Dinar Standard. Its DS100, a ranking of the Top 100 businesses in the 57 member countries of the Organization of the Islamic Conference (OIC), is published annually.. ..The ranking showcases the continuing growth of the Muslim world economies with $1.08 trillion in total revenues and a healthy 14.6 percent in revenue growth compared to the previous year. Due to rising oil prices, which are hovering around $90 a barrel currently, the 20 integrated oil and gas companies on the list continued their dominance representing 65 percent of the total DS100 company revenues.." [more]

Recruitment of Foreign Manpower Jumps 35% [Jan 30]
"The number of visas issued by the Labor Ministry for the recruitment of skilled foreign workers increased by 34.57 percent last year compared to visas issued in 2006, Labor Minister Dr. Ghazi Al-Gosaibi said. Gosaibi attributed the increase in recruitment visas to growing development and industrial projects across the Kingdom.. ..The tremendous increase in recruitment visas comes in response to the growing demand for skilled foreign manpower to carry out new industrial, educational and real estate projects in various parts of the country and implement the recently launched mega-economic cities in Rabigh, Hail, Madinah and Jizan. The increase was also a response to the complaints of foreign investors that they had no skilled workers to carry out their projects in the Kingdom.." [more]

GE Unveils Multibillion Growth Strategies in the Kingdom [Jan 30]
"General Electric Company (GE), the $173 billion diversified technology giant, will support Saudi Arabian Airlines’ ambitious plan to launch overhaul services of engines, which will finally lead to the building of a new state-of-the-art facility at the Jeddah-based King Abdul Aziz Airport within the next 18 months, Jeffrey R. Immelt, GE’s board chairman & chief executive officer, said here yesterday during a press conference. Under the agreement, valued at about $1.4 billion, GE will supply materials to the Kingdom’s national carrier for 14 years from the start of the new overhaul facility. Immelt said 'the new state-of-the-art facility would serve the Kingdom, the Middle East and Africa regions, where our cumulative revenue has gone up by 45 percent to $8 billion in 2006.'.." [more]

~~~~~~~~ [ Jan 29] ~~~~~~~~~

Saudi to Step Up Welfare Payments [Jan 29]
"Saudi Arabia will raise wages, welfare payments and subsidies to counter rising inflation. Resentment over the cost of the living led the king's advisers to summon the central bank governor and finance minister next month to discuss the peg, which has forced the central bank to slash rates by 150 basis points since September.. ..The cabinet also agreed to raise social insurance benefits by 10 per cent and subsidise half the cost of shipping and some administrative expenses including those for driving licences and passports.. ..Unable to raise interest rates, many of Saudi Arabia's neighbours are also 
resorting to subsidies and price controls to cushion their populations from rising prices.." [more]

UAE Waits for Saudi Signal on Revaluation [Jan 29]
"King Fahd of Saudi Arabia is to convene a meeting of the Shura council on February 10 to hear presentations from senior officials about the revaluation of the riyal and future of the dollar-peg. It is highly likely that the UAE and the three other dollar-linked GCC states will follow any Saudi move, if it happens. What hastened the consideration of the dollar-peg and revaluation - apart from mounting inflation - was probably the surprise interest rate cut by the US Federal Reserve last week which weakened the dollar again, and through the dollar-peg all the Gulf currencies. The idiocy of having the interest rates of the booming GCC economies set at a wholly inappropriate level by the slowing US economy is clear once again for all to see.." [more]

Saudi Plans Airport Cities Near Major Airports [Jan 29]
"Saudi Arabia plans to develop 'airport cities' around the kingdom's three major airports under private sector participation schemes.. ..Abdullah M N Rehaimi, president of Saudi Arabia’s General Authority of Civil Aviation (GACA), and Lars Thunell, executive vice president and CEO of IFC, a member of the World Bank Group, today signed an advisory agreement to help mobilise private investment for sustainable, commercially oriented developments around the airports. The projects will help the airports make better use of the assets within their boundaries, improving operations and creating jobs while 
helping GACA achieve financial sustainability.. ..'IFC is helping Saudi Arabia to diversify its economy by increasing private sector participation and by developing its airports into economic hubs for the country.'.." [more]

Birds Culled in Saudi as New Bird Flu Case Found [Jan 29]
"Saudi authorities have culled nearly 160,000 birds after a new case of the deadly strain of bird flu was found on a farm outside Riyadh.. ..Authorities killed thousands of birds in al-Kharj and other sites near Riyadh in November, as inspection teams combed farms and markets around the city of about 4 million people. In March, Saudi Arabia said the deadly H5N1 strain of bird flu had been discovered in peacocks, turkeys, ostriches and parrots at a house in the east of the kingdom and that an unspecified number of birds in the area had been culled. The Saudi government says it has large stocks of Tamiflu anti-flu tablets in case the virus spreads to humans.." [more]

Reformists Denounce Rights Abuses in Saudi [Jan 29]
"Saudi reformists are to send a new petition to King Abdullah calling for the release of fellow activists and an end to the harassment of bloggers and journalists, one of them said. The petition also demands the promulgation of a law "guaranteeing people's rights and freedom... on the basis of Islamic tenets," said Mohammed bin Hudeijan al-Harbi, one of 12 Islamist reformists who drafted the document. The petition, which complains that the scope of freedom and 'peaceful expression' in the ultra-conservative kingdom has narrowed over the past year, is timed to mark one year since nine reformists were 
arrested.." [more]

Institute Takes Saudi Arms Deal to the American People [Jan 29]
" In its ongoing opposition to the proposed $20 billion arms deal with Saudi Arabia, the Institute on Religion and Public Policy has launched a new online petition demanding that Congress halt the deal. The petition can be found at www.religionandpolicy.org. 'While news reports and analysts remain skeptical that Congress will block the deal, we have faith that the American people will voice their inherent opposition to a deal that threatens American security, destabilizes the region, and arms a country that is ideologically and practically opposed to all America values,' commented Institute on Religion and Public Policy President Joseph K. Grieboski. The petition, addressed to the leaders of the Senate and House and available at www.religionandpolicy.org, 'respectfully demand[s you remember the words President Bush has forgotten and vote NO on authorizing the $20 billion arms sale to Saudi Arabia… We've made this mistake before - let's not make it again.'.." [more]

Saudi Arabian Bank Profits Fall 14.5% [Jan 29]
"Profits of Saudi banks declined by 14.5 per cent in 2007. Eleven banks realised net profits of 30.21 billion Saudi riyals compared to 35.34 billion Saudi riyals in the previous year. The profits of banks in 2006 increased by 31.2 per cent over 2005. Four banks - Al Jazira, the Saudi Investment Bank, Al Saudi Al Hollandi and Al Bilad reported a decline of more than 50 per cent in profits in 2007.. ..The profits of the ten banks listed on the Saudi stock exchange have declined by 16.8 per cent in 2007. The profits of these banks amounted to 24.1 billion Saudi riyals compared to 29 billion Saudi riyals in 2006. Riyad Bank is the only Saudi bank that reported an increase in its profits in 2007.." [more]

Kingdom Encourages Use of High-Tech on Climate Change [Jan 29]
"Saudi Arabia has been encouraging greater usage of high-tech solutions to deal with climate change, Prince Abdul Aziz bin Salman, assistant minister of petroleum and mineral resources for petroleum affairs, said. 'These solutions include the advanced technology for separation and storage of Carbon dioxide, especially after fossil-fuel proved to be the first option that will dominate the world market during the 21st century,'.. ..'Although the Kingdom will not need the technology of separation and storage of carbon dioxide for the enhanced extraction of the oil in the upcoming years, but it will make many researches and upgrade this technology to have its fair share in confronting the climate change,' he said. 'The oil industry in the GCC states are in need of building partnership with research institutions in order to find solutions in the field of geological storage and increase oil production as well as to reduce the cost of separating carbon dioxide from immovable resources,'.." [more]

GCC Should Not Drop Dollar Peg [Jan 29]
"Gulf Arab nations should hold back from dropping their dollar pegs or revaluing their currencies because supply constraints rather than more expensive imports are driving inflation, HSBC Holdings Plc Middle East CEO said. 'Most of the inflationary pressures are not because of the dollar peg, but because of supply constraints ... a lack of raw materials and workers,' Chief Executive Officer Youssef Nasr told Reuters yesterday on the sidelines of an infrastructure conference in Dubai.. ..Any revaluation might undermine investor confidence in the region, Nasr said.." [more]

~~~~~~~~ [ Jan 28] ~~~~~~~~~

Hamas Leader Meshaal in Saudi, Discusses Gaza [Jan 28]
"Hamas leader Khaled Meshaal met Saudi officials in Riyadh on Monday as part of a Saudi bid to mediate the return of Gaza, under Israeli blockade, to Palestinian Authority control, Saudi and Palestinian officials said. The Syria-based leader of Hamas, a Palestinian Islamist group which controls the Gaza Strip, held talks with Saudi Foreign Minister Saud al-Faisal after arriving in Riyadh on Sunday night, a Saudi source said. Arab efforts are under way to return control of the border crossing between Gaza and Egypt to the Fatah group of Palestinian Authority leader Mahmoud Abbas.. ..There has been no mention of Meshaal's trip in the Saudi state media and it was not clear if he would meet King Abdullah.." [more]

U.N. Rights Expert Will Examine Violence Against Women in Saudi Arabia [Jan 28]
"..Yakin Erturk, the U.N. special investigator for violence against women, will visit the kingdom from Feb. 4-13 and meet with government and civil society representatives in Riyadh, Jeddah and Damam, according to a statement by the Office of the U.N. High Commissioner for Human Rights.. ..Earlier this month, Saudi officials told the U.N. Committee on the Elimination of Discrimination against Women that the kingdom would likely lift the ban on women driving in the near future and was taking measures to address the issue of domestic violence. A report last year by New York-based Human Rights Watch found many female foreign workers in Saudi Arabia are physically abused by their employers.." [more]

Saudi to Debate Riyal-Dollar Peg [Jan 28]
"Saudi Arabia's finance minister and central bank governor will appear before a council to discuss the riyal's peg to the US dollar and a surge in inflation, a council member said yesterday. Inflation in Saudi, which pegs its riyal to the dollar, rose to a 16-year high of 6.5 per cent in December, partly driven by a rise in global commodity prices and the declining US currency.. ..'The finance minister and the central bank governor were invited to debate these issues, discuss this dollar peg debate, its repercussion and what the government plans to do about it,' Zulfa said. The 120-member Shura can review draft legislation and make recommendations, which are not binding on the government. Saudi Arabia has been trying to offset the effect of higher prices on its 25 million people through measures such as subsidies on imported rice and baby milk, introduced last month by order of the king.." [more]

US Roadmap Monitor Meets Israeli FM [Jan 28]
"Israeli Foreign Minister Tzipi Livni on Monday met a former US general appointed by US President George W. Bush to monitor compliance with the Middle East peace blueprint known as the roadmap. During the talks with Lieutenant General William Fraser, Livni reiterated Israel's position that the Palestinians must crack down on militants in order to implement any peace deal, her ministry said in a statement. 'The implementation of the roadmap is crucial for the success of the process... because the road to the creation of a Palestinian state runs through guaranteeing Israel's security,' Livni was quoted as telling Fraser. Bush earlier this month appointed Fraser to monitor the implementation of the first stage of the 2003 internationally-drafted blueprint, which calls for Palestinians to end violence and for Israelis to freeze settlement construction in occupied Palestinian land.." [more]

PetroRabigh Opens Trading With a Bang [Jan 28]
"Rabigh Refining and Petrochemical Co. (PetroRabigh) shares began trading Sunday with a major bang, making up almost half of the day's trading volume even as the stock closed almost 150 percent higher from its initial public offering (IPO) price. At closing bell, PetroRabigh was at SR52.25 per share on a turnover of 228,520,778 shares or 49.9 percent of the 457,547,779 total shares traded for the day. The Tadawul All Share Index (TASI) gained 356.58 points to 9,789.07 points on a total value turnover of SR19.689 billion and with 103 of the 110 shares traded posting gains. PetroRabigh, a joint venture between Saudi Aramco and Japan's Sumitomo Chemicals with a 37.5 percent interest each, sold the remaining 25 percent or about 19 million shares to Saudi nationals this month at an IPO price of SR21 per share.." [more]

Women’s Rights Body in Pipeline [Jan 28]
"Women’s rights activists in the Kingdom are eagerly anticipating the establishment of Ansar Al-Marah — the first civil society dedicated to supporting women’s rights in Saudi Arabia. Suliman Al-Salman, founder of Ansar Al-Marah, told Arab News that the society aims to create institutional and individual change that would improve the lives of women in the Kingdom.. ..Regarding the criticism of some people who may feel that the society aims to Westernize Saudi Arabia, Al-Salman said, 'Helping women to get their rights, which are ignored or suppressed by law or customs doesn’t conflict with Islam, which does not prevent women from utilizing their own money, driving or choosing their own husbands.'.." [more]

US University Explores Possible Links [Jan 28]
" high-level team from the University of Colorado is in the Kingdom to explore the possibilities of collaborating, and developing joint programs, with Saudi universities. Invited by Zuhair Hamed Fayez, an alumni of the university and president of Zuhair Fayez Partnership, the Jeddah-based architectural and IT consultants, the team is led by Dr. M. Roy Wilson, chancellor of the university’s campus in Denver.. ..One area in which Dr. Wilson is particularly interested in establishing collaboration is medicine. Colorado University at Denver is currently building a multibillion-dollar dedicated medical campus on a former military base in nearby Aurora. When finished, it will be one of the largest and most prestigious education, patient care and research centers in the US.." [more]

GCC Officials Discuss Nuclear Energy Plans [Jan 28]
"Delegates from the GCC countries began discussions on the use of nuclear technology for peaceful purposes at a regional meeting in Doha yesterday. The participants said they would issue recommendations tomorrow at the end of their meeting.. ..in Doha last month. A “historic” decision to establish a committee to study the feasibility of the use of nuclear energy for peaceful purposes was also taken at the meeting. Al-Ali told the delegates: 'There is a huge responsibility on your shoulders as the decisions you take here would be the first step towards building such a vital and strategic project. I am sure you are going to live up to the responsibility.' He said the International Atomic Energy Agency (IAEA) has endorsed the feasibility of the project to produce electricity and desalinated water.." [more]

Peak water in Saudi Arabia [Jan 28]
"..Peak water may have taken place in Saudi Arabia already more than 10 years ago. According to recent news from Reuters (2008) the Saudi government has decided to stop all subsidies to agriculture. It means abandoning a policy that had obtained self sufficiency in food production and that had allowed Saudi Arabia to be a major food exporter in the past. According to Reuters, 'The kingdom aims to rely entirely on imports by 2016'. The desert is going to win back the land it had ceded to agriculture.. ..It seems that the depletion of the aquifers has left Saudi Arabia with few options other than transforming oil into food. Selling oil and using the profits for importing food is the only possibility in the short term. In the future, however, it may be possible to replace aquifers with water from desalination.." [more]

~~~~~~~~ [ Jan 27] ~~~~~~~~~

Saudi Council to Quiz Finance Minister, Central Banker on Peg [Jan 27]
"Saudi Arabia's finance minister and central bank governor will appear before a council that advises the king to discuss the riyal's peg to the U.S. dollar and a surge in inflation, a newspaper reported on Sunday. Inflation in the world's biggest oil exporter, which pegs its riyal currency to the dollar, surged to a 16-year peak of 6.5 percent in December, partly driven by a rise in global commodity prices and a weak U.S. currency. The Shura Council, whose members are appointed by King Abdullah, will hold a meeting next month with Finance Minister Ibrahim al-Assaf and Hamad Saud al-Sayyari, the governor of the Saudi Arabian Monetary Agency.. ..'The session will raise key financial and economic issues, mainly the debate over de-pegging the riyal currency from the U.S. dollar and the rise in inflation rates,'.." [more]

Kingdom to Take Delivery of Eurofighters Next Year [Jan 27]
"Saudi Arabia will receive 72 Eurofighter Typhoon aircraft next year, said Deputy Minister of Defense and Aviation for Military Affairs Prince Khaled ibn Sultan. The Eurofighter Typhoon is a twin-engine multipurpose canard-delta strike fighter aircraft. The aircraft is used by the German Luftwaffe, the Italian Air Force, the Spanish Air Force and the UK’s Royal Air Force. It is built in Britain, Germany, Italy and Spain by a consortium involving BAE (BAE Systems), EADS (The European Aeronautic Defence and Space Company) and Finmeccanica. The 4.43 billion pound ($8.86 billion) agreement was signed by the government of Saudi Arabia and Britain on Sept. 11 last year.." [more]

Israeli PM and Palestinian President to Discuss Border Crisis [Jan 27]
"Israeli prime minister and Palestinian president are expected to meet on Sunday and discuss the border crisis. Meanwhile, both Hamas and Fatah have accepted invitations to hold separate talks with the Egyptian government to discuss the Gaza border, which has been breached to allow blockaded Palestinians into Egypt. The border, which was initially breached by Hamas fighters, remained open for the fifth day on Sunday, though Egyptian security forces blocked Gazans from driving beyond the border town of Rafah.." [more]

Trend Micro Hosts IT Security Event for Growing Jeddah [Jan 27]
"New technology from Trend Micro, a leader in network antivirus and Internet content security software and services. Saudi Paramount Computer Systems and Trend Micro will extend their expertise to end-users in the Kingdom with an exclusive security update and solutions event on Monday, 28th January, at the Le Meridian hotel, Jeddah.. ..Security experts from Trend Micro will present the latest security solutions and product information for enterprises and SMBs.." [more]

BMG Saudi Index Starts the Week Up by 1 Percent [Jan 27]
"The BMG Saudi Index switched its performance; rising in yesterday’s trading session by 1 percent to 509.78 points after the fourth quarter of 2007 rebalance took place. The market turnover, however, decreased to SR6.9 billion ($ 1.8 billion), down by 1.4 percent from SR7 billion ($1.9 billion) in Wednesday’s trading. The rebalance of the BMG Saudi Index introduced 3 new sectors; the Banking sector, the Electricity sector, and the Telecommunications sector. Only the Insurance sector ended the first trading session of this week on a negative note, declining by 5.4 percent, while the Electricity sector stood still. The best performer was the Services sector, rising by 2.6 percent, whereas the Telecommunications sector advanced by 1.8 percent.." [more]

Saudi Hawks Lure Aerobatics Fans With Spectacular Al Ain Show [Jan 27]
"The Saudi Hawks team today wowed thousands of spectators at the Al Ain International Aerobatics Championships – which is being held under the patronage of HH General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Formed. In a routine which incorporates 24 different formations, the Saudi Hawks are the only team to have ever lifted consecutive gold awards in Al Ain, with their 2004 and 2005 triumphs gaining the team 
worldwide popularity.." [more]

Jan 20 - Jan 26, 2008

~~~~~~~~ [ Jan 26] ~~~~~~~~~

As U.S. Thirsts for Oil, OPEC Might Tighten Spigot [Jan 26]
"Talk about lousy timing. President Bush and his energy secretary, Samuel Bodman, separately traveled through the Middle East earlier this month asking Saudi Arabia and other big oil exporters to boost output -- just in time for the supply-demand backdrop to change. Indicators are now pointing to an upturn in global oil supplies, and forecasters are saying demand won't be as strong as they previously thought, as the global economy slows. upshot: When the Organization of Petroleum Exporting Countries meets Friday in Vienna, the group probably won't heed the administration's loud call for a 
production boost. Quite to the contrary, some players within OPEC are talking now about the potential need to cut production, if not at this gathering, then perhaps at the club's regular session in March.." [more]

Gulf's Superfunds Outperform Market [Jan 26]
"The year 2007 was far from perfect for regional bourses with many fund managers taking it on the chin as volatility hit them repeatedly. But the last few months swept away much of the loss and all the funds in the Zawya Mutual Funds Monitor were back in the black by the end of the year.. ..Four of HSBC Saudi Arabia's funds were among the ten best performing funds in 2007. The bank's Amanah GCC Equity Fund did nearly twice as well as its benchmark, with returns of 83.57 per cent, compared to the Shuaa GCC benchmark of 43.41 per cent. HSBC Saudi Arabia fund managers also took second spot with Amanah Saudi Industrial Companies Fund, which did extremely well on the back of high energy prices, netting a return of 81.23 per cent, although it was only marginally better than its Saudi industrial benchmark.."[more]

Abdullah, Siniora Discuss Crucial Issues [Jan 26]
"..King Abdullah yesterday held talks with Lebanese Prime Minister Fouad Siniora at his Janadriya ranch outside Riyadh, the Saudi Press Agency said. "The talks focused on the present crisis in Lebanon and Arab League's efforts to solve it," the agency said.." [more]

Saudi Tightens Grip on Internet Use [Jan 26]
"The Kingdom of Saudi Arabia has begun implementing new laws for controlling the use of technology for terrorism, fraud, pornography, defamation, violating religious values and disregarding public etiquette. The new information technology law contains 16 articles, and provides a maximum penalty of 10 years and a SR5 million fine for persons found guilty of running web sites in support of terrorist organisations. A maximum penalty of three years and a SR500,000 fine will be handed to anyone found guilty of financial or data fraud, or found guilty of attacking the private life of another subject.. ..The new law comes into effect as Saudi Arabia faces the world's attention for its treatment of Saudi blogger Ahmad Fouad Al-Farhan. Al-Farhan was arrested for violating “non-security regulations", and is believed to be the first online critic to be arrested in the kingdom.." [more]

IEA Urges Opec to Raise Production [Jan 26]
"Opec should pump more oil to replenish inventories and ease high prices, while state-owned oil companies must keep up the pace of investment in new capacity, the head of the International Energy Agency said. Oil stockpiles are still "very tight," IEA executive director Nobuo Tanaka said in an interview on Friday in Davos, Switzerland, where he is attending the World Economic Forum. 'The price level is quite high, so we want Opec to see the current situation and get the market signals right. But we cannot order them to produce more.'.. ..In its annual World Energy Outlook in November, the IEA said a supply crunch in the period to 2015 cannot be ruled out. The best way to tackle climate change is to improve energy efficiency.." [more]


KAUST Partners with Munich University [Jan 26]
"The King Abdullah University of Science and Technology (KAUST) has partnered with Munich University for scientific research on applied engineering, nanotechnology and solar energy. Dr. Nazmi Al-Nasseri, KAUST acting vice chancellor, said the cooperation between the two universities will also involve the establishment of research centers and construction of laboratory facilities in KAUST, and the sharing of expertise and the exchange of teaching staff.. ..Munich University is one of the world's leading universities in the field of applied engineering research.." [more]

Saudi Arabia’s First Girls’ Soccer Match [Jan 26]
"The first soccer match between female teams has taken place in Saudi Arabia's Eastern Province, the Al-Watan newspaper said. No men were allowed in the stadium, and the referee and her linesman, as well as the fans, were also female. The Prince Mohammad Bin Fahd University team defeated their guests, the Al-Yamamah College.. ..Saudi Arabia's male national soccer team is one of Asia's most successful teams, currently ranking 57 in the FIFA ratings and has taken part in the last four World Cups. It is unclear if a female Saudi national soccer team is in the offing and whether they would participate in international competitions.." [more]

Much-Awaited Railway Project on Track [Jan 26]
"The winner of the contract for the much-awaited land-bridge project to link the Kingdom’s east with its west will be announced in April, Transport Minister Dr. Jabara Al-Seraisry said yesterday. The total cost of the project is estimated at $5 billion. 'Four consortia have been qualified to carry out the project. They will present their offers in the second half of next month and the winner of the contract will be announced in April,' he said.. ..The land-bridge project involves construction of 950 km of new railway tracks between Riyadh and Jeddah and another 115-km line between Dammam and Jubail. It is the cornerstone of a massive multibillion-riyal railway expansion project and will be the first rail link between the Red Sea and the Gulf.." [more]

~~~~~~~~ [ Jan 25] ~~~~~~~~~

Beyond Literacy in the Arab World [Jan 25]
"Education in the Arab world is a mixture of good and bad news. On one hand, literacy continues to improve across the region, with some countries progressing more than others. On the other hand, the Arab world continues to lag behind most of the world and is producing citizens ill-equipped to participate in the rapidly evolving global market. As a result, structural unemployment is a major dilemma. Educational reform is urgently needed.. ..Arab graduates find themselves at an increasing disadvantage as they seek entry into their respective labour markets, where their skills are often mismatched with the needs of the marketplace. For example, in Saudi Arabia, approximately 5.5 million foreign workers play an essential role in the Saudi economy – particularly in the service and oil sectors. Yet despite the government's aggressive policy to encourage the employment of Saudi nationals, the official (and persistent) unemployment rate of Saudi males is 13 percent, and many independent experts believe that the rate may be as high as 25 percent.." [more]

India and Saudi Arabia Sign New Bilateral Air Services Agreement [Jan 25]
"India and Saudi Arabia have signed a new bilateral air services agreement on 23 January, 2008, allowing for more passenger flights between the two countries and removes all restrictions on cargo services. The agreement also allows for more designated airlines from the two sides, and enhances the existing traffic entitlement of 8,500 seats per week to 20,000 seats per week with immediate effect. Saudi Arabia's airlines can now serve to Bangalore, Calicut and Lucknow, and India's airlines will be able to operate to Madina.." [more]

Religious Police to Learn Diplomatic Skills [Jan 25]
"Members of the Commission for the Promotion of Virtue and Prevention of Vice will be trained on how to deal with diplomats and foreign non-Muslims in Saudi Arabia. The training course will be organised by the Riyadh-based Institute of Diplomatic Studies, an affiliate to the Foreign Ministry.. ..The religious body is often criticised by international human rights organisations. The new training programme aims at enlightening the commission members on how to deal with diplomats and non Muslims working or coming to visit Saudi Arabia. Last week, Saudi Arabia decided to establish ‘community police’ stations in the kingdom. The move was regarded by some people as a step for containing the wide role of the religious police.." [more]

The Economies of the Middle East [Jan 25]
"On February 24, 2003, in the Islamic Financial Forum in Dubai, Brad Bourland, chief economist for the Saudi American Bank (SAMBA), breached the embarrassed silence that invariably enshrouds speakers in Middle Eastern get-togethers. He reminded the assembled that despite the decades-long fortuity of opulent oil revenues, the nations of the region - excluding Turkey and Israel - failed to reform their economies, let alone prosper. Structural weaknesses, imperceptible growth, crippling unemployment and deteriorating government financing confined Arab states to the role of oil-addicted minions. At $540 
billion, said Bourland, quoted by Middle East Online, the combined gross domestic product of all the Arab countries is smaller than Mexico's.. ..Not surprisingly, most of the members of the Arab Gulf Cooperation Council have joined the World Trade Organization a while back. But their citizens are unlikely to enjoy the benefits at least until 2010 due to obstruction by the club's all-powerful and tentacular business families.." [more]

Oil Prices Shoot Above 90 Dollars [Jan 25]
"The price of oil jumped back above 90 dollars on Friday, helped by a recovery in global stock markets on the back of plans to prevent the US economy falling into recession, traders said. New York's main contract, light sweet crude for delivery in March, gained 54 cents to 90.44 dollars per barrel. Brent North Sea crude for March rose 78 cents to 89.85 dollars. 'Crude futures were firmer, extending last night's rally,' said Sucden analyst Andrey Kryuchenkov. 'Oil prices are continuing to follow gains on the broader market and especially on equity markets,' he added.. ..Elsewhere the oil market was looking ahead to next Friday's meeting of the OPEC oil-producing cartel in Vienna. Analysts expect the Organisation of Petroleum Exporting Countries to resist calls from oil consumers to increase output to help to bring down prices further. Analysts are even suggesting that OPEC may soon decide to cut output because its members are unhappy about earnings being reduced by oil price drops.." [more]

Experiences of Saudis Studying Abroad [Jan 25]
"Our country is currently undergoing an encouraging educational boom. Instead of building more private and public colleges, universities and institutions for young men and women, there’s a trend to send students abroad to study in different Western, Eastern and Arab countries. We hope that these students will come home with valuable and useful degrees and qualifications that will help in the advancement of the country and boosting its economy. They should be prepared academically and psychologically in advance to live through this beneficial yet difficult experience. What matters in the experience isn’t just only academic success, but also maturity and personal development by which the young man or woman lives an independent lifestyle and thinks seriously about handling residence issues, finances, friendships and how to survive. However, one shouldn’t deprive himself or herself of the joy of getting to know the good in other cultures instead of what is destructive physically or emotionally.." [more]

~~~~~~~~ [ Jan 24] ~~~~~~~~~

Saudi Activist Still Held Without Charge a Year After His Arrest [Jan 24]
"A prominent Saudi political activist and academic remains in solitary confinement 'without charge and without access to counsel' a year after he was arrested, his lawyer said Wednesday. Saud Mokhtar al-Hashemi, 45, was among 10 men arrested last February and accused of illegally collecting funds and sending fighters to Iraq. His lawyer and supporters say the detentions were a government attempt to silence demands for democratic reform in Saudi Arabia.. ..Hashemi was working to form a civic rights group, the National Reformist Grouping. He was arrested the day a petition by some of the men involved in the group was made public. The petition called for an elected advisory council to help rule the country, curbs on Interior Ministry powers and a more equal distribution of the country's land and wealth.." [more]

Saudi Sees FX Change Only After Sharp Dollar Drop [Jan 24]
"Saudi Arabia said on Thursday it would take a 'precipitous' decline in the dollar for it to change the value of its riyal against the U.S. currency, which has been fixed since 1986. The dollar has fallen 16.2 percent against a basket of major currencies from two years ago, dragging the Saudi riyal lower against the currencies of Europe and many Asian countries from which Saudi Arabia imports. The largest Arab economy does not intend to change its currency policy, Mohammed al-Jasser, vice governor of Saudi Arabia's central bank, told Reuters in Davos, Switzerland. Asked if a 30 percent decline in the dollar's value would prompt Saudi Arabia to shift its currency policy, he said: 'If there are changes in (the composition of) exports and imports, and the simultaneous precipitous decline in the dollar, of course that's a change in circumstances.' This is the first time a Saudi official has said publicly that there could be circumstances under which it would consider changing the riyal's exchange rate.." [more]

Democracy Essential for the Middle East says Rice [Jan 24]
"Democracy is essential for political and economic development in the Middle East, said Condolezza Rice, US Secretary of State told delegates at the World Economic Forum in Davos. 'The emphasis on democracy in the Middle East is controversial and some argue that is has made the situation worse, but I ask worse than what?'.. ..She linked economic development to democracy, pointing out that 'some states are growing economically through a kind of ‘authoritarian’ capitalism. But it is an open question whether this is sustainable for a government to respect people’s talents but not their rights'.. ..As she 
laid out this list of principles for American foreign policy, she recognised that it would be controversial in many areas of the world. She insisted that it was important for the USA to stick to its principles and put them into action.." [more]

Saudi Plans First Sovereign Wealth Fund [Jan 24]
"Saudi Arabia, the world's biggest oil producer, plans to start its first sovereign wealth fund with about $6bn, channeling surplus cash from crude-oil revenue into foreign companies, reported Bloomberg. The Saudi monetary authority, known as SAMA, is the nation's central bank and manages the kingdom's currency reserves. The Public Investment Fund provides loans to ventures that will develop the Saudi economy.." [more]

Together Let’s Keep the World Going, Says Walter Mead [Jan 24]
"Walter Russell Mead, Henry A. Kissinger Senior Fellow in US Foreign Policy at the Council on Foreign Relations, said that the war on Iraq is a lesson that is going to make a historic change in both the East and the West. 'Working with Arabs, trusting them and building relationships with them is the key to protecting their lives. God makes good come out of evil. Maybe the long-term consequences of this terrible war are going to be better than we expected,'.. ..'I’ve wanted to visit Saudi Arabia since 9/11. As a member of the largest think tank on foreign relations in the US, I feel that my education and knowledge isn’t complete without visiting the Kingdom,' said Mead. 'People now understand the US in a new way. Our strategies are not having the results we wanted. But I don’t think our learning process or policy reform has finished. Americans want a better relationship with the Middle East.'.." [more]

Mining Expo in Jeddah Eyes Investors [Jan 24]
"The first international exhibition for mineral exploration and applications opened at the Jeddah International Convention Center on Tuesday night, with Jeddah Gov. Mishaal ibn Majed describing MENA-EX 2008 as 'the gateway for potential investors.' Around 190 companies from 16 countries are taking part in the four-day exhibition, some of them with their latest mining and geological equipment.. .. 'our objective is to place Saudi Arabia in the forefront of the mining sector and develop it as the biggest mining market in the world.' It is also the Kingdom’s strategy to diversify its investments into non-oil mineral resources and provide its youth with employment opportunities in alternative sectors. The 40-year exploration by various organizations and companies operating in the Kingdom has led to the discovery of about 2,500 metallic minerals. Currently, Maaden is operating four gold mines.." [more]

Saudi Arabian Airlines Planning to Go Public [Jan 24]
"Khaled Almulhim, director general of Saudi Arabian Airlines, announced yesterday that the aviation sector of the airline could be privatized within two years. 'We have already started privatization of the airline with the catering sector,' the Saudia chief said, adding that the airline would sell 30 to 40 percent of its shares in its strategic units.. ..'The next strategic unit slated for privatization is cargo,' the Saudia chief said. It will be followed by privatization of the ground service unit and maintenance unit. 'The civil aviation service, which is the core activity of the airline, will be the last to be privatized,' he added. He said the participation of strategic partners in the new companies would strengthen the airline, adding that the selling process would be carried out in a transparent manner.." [more]

~~~~~~~~ [ Jan 23] ~~~~~~~~~

Saudi Arabia Executes Three Myanmar Men for Burglary [Jan 23]
"Saudi Arabia took the unusual step on Wednesday of executing three men for burgling a home and robbing its owner at knifepoint. The three men from Myanmar were put to death in Makkah for stealing gold jewellery from the house of a woman who they had tied up to prevent her calling for help and threatened with knives.. ..Saudi Arabia usually carries out executions by public beheading for murder, rape, drug smuggling and increasingly armed robbery.." [more]

Saudi Economic Reform to Accelerate in 2008 [Jan 23]
"King Abdullah's instruction that government departments step up their performance by simplifying procedures and maintaining regular contact with those who receive their services is a strong indication that economic reform is to be accelerated. The King has been a central figure in the country's modernisation process by encouraging the efforts of the Saudi Arabian General Investment Authority (SAGIA) to stimulate domestic and foreign investment, streamlining privatisation moves and acceding to the World Trade Organisation.. ..At the same time the Kingdom is gradually opening up sectors for 
investors including telecommunications, airlines and insurance and is continuing to support the main engines of economic growth by encouraging local and foreign private sectors to contribute to development of Saudi Arabia's new economic cities.." [more]

Gulf, Asian States to Fight Labour Abuse [Jan 23]
"Gulf Arab states heavily dependent on an Asian labour force agreed yesterday with labour-sending Asian countries to join forces against the exploitation of expatriate workers from Asia. Gulf Co-operation Council (GCC) labour ministers and counterparts from Asia are to propose an action plan to protect the welfare of Asian workers, according to their Abu Dhabi Declaration. The ministers have recommended the drawing up within three months of the plan aimed at “preventing illegal recruitment practices” both at the country of origin and in host countries.." [more]

US Diplomat Backs Plan for PA Control of Border [Jan 23]
"A senior US diplomat said yesterday the US backed the idea of letting President Mahmoud Abbas’s Palestinian Authority control main border crossings in Hamas-run Gaza to help ease local hardship. Israel has tightened restrictions on the movement of people and goods through the passages since Hamas violently took over the territory from Abbas’s forces in June. Gazans often describe the area, home to 1.5mn people, as a prison.. ..'Fayyad came up with this idea. We think it’s a good concept,' Jake Walles, the US consul general in Jerusalem, said about the proposal, which would mainly effect the main commercial crossing between Israel and Gaza at Karni, and the Rafah border station with Egypt.." [more]

Saudi Shares Dive as Fed cuts Rate [Jan 23]
"The Saudi stock market, by far the largest in the Arab world, dropped sharply at the end of trading Tuesday, shedding almost the maximum permissible 10 percent on economic concerns and profit-taking. The Tadawul All-Shares Index shed 9.7 percent to finish below the 10,000-point psychological barrier on 9,338.54 points. The maximum allowed drop in a single day is 10 percent. The TASI which closed last year up 40.6 percent, has so far dropped about 21 percent from its highest close this year of 11,895.47 points on Jan. 12. The decline was led by market leaders, petrochemicals giant SABIC, the banking and telecom sectors, all of which dropped close to the maximum 10 percent. It is the worst single-day loss in the market in almost two years.." [more]

Students Welcome Decision on Unions [Jan 23]
"The Shoura Council has passed a new University Law that allows the formation of student unions at Saudi universities. The unions will have a representative on the university council, the law said. The members of the unions will be elected by secret ballot and can serve for more than one term. Financing will be from the university budget, donations, gifts and revenue from their activities. University students and teachers have welcomed the decision to form student unions and said it would improve educational standard and create a healthy environment on campuses.." [more]

~~~~~~~~ [ Jan 22] ~~~~~~~~~

Singapore, Saudi Arabia Sign MOU to Improve Youth Exchange [Jan 22]
"People-to-people exchange between Singapore and Saudi Arabia has been given a boost with the signing of a memorandum of understanding (MOU) between the charities of both countries on Tuesday. It is expected to pave the way for an exchange of ideas that will eventually develop an entrepreneurial spirit among disadvantaged youth.. ..The programme aims to provide youth entrepreneurs with seed business loans and a mentoring programme with successful entrepreneurs. Both Hesham A Tashkandi, who heads The Centennial Fund, and Raymond Huang of the Heartware Network are also keen for youth exchange programmes. Youth Business Singapore plans to raise S$500,000 to fund its annual expenditure, including S$400,000 in business loans. It is also planning to set up a dedicated one-stop Youth Business Hub in Singapore.." [more]

Kingdom Slams Gaza Blockade [Jan 22]
"Saudi Arabia yesterday denounced the Israeli atrocities against the Palestinians in Gaza and West Bank and urged the Quartet to shoulder its responsibility toward protecting the human rights of Palestinians. The so-called Quartet is made up of the four main sponsors of the Middle East peace process — the European Union, Russia, the United Nations and the United States. In a statement after the weekly Cabinet meeting, chaired by Custodian of the Two Holy Mosques King Abdullah, the Kingdom said it would intensify humanitarian aid for the Palestinians in order to meet their requirements.. ..'The Council of Ministers has been following with deep concern Israeli violations and its policy of imposing the worst forms of collective punishment in Gaza and West Bank,'.." [more]

Saudi Arabia Remains China's Top Crude Supplier [Jan 22]
"Saudi Arabia consolidated its place as China's top crude oil supplier in 2007 after its exports growth outpaced that of nearest rival Angola, data from the General Administration of Customs showed Tuesday. The Middle Eastern kingdom is now likely to pull further ahead, as it chases a target of exporting 1 million barrels of crude a day to China by the end of the decade. That would equal more than half of Angola's current total exports to international customers.. ..Saudi Arabia supplied 26.33 million metric tons of crude to China last year, equivalent to around 528,000 barrels a day, the customs 
data showed. Annual growth in imports from the world's largest crude producer of 10.3% was achieved despite a 3.2% fall in volumes sent to China in December.." [more]

Pakistan, Saudi Arabia Commence Joint Naval Exercises [Jan 22]
"Seven Royal Saudi Naval Forces ships Tuesday reached the Pakistani southern port city of Karachi to participate in the joint naval exercises with Pakistan's navy, codenamed "Naseem al Bahr." The exercise, ninth in the series of Naseem al Bahr manuevers and commenced from Tuesday afternoon, will involve participation of state of the art sea and air platforms besides Special Forces.. ..Highlighting salient features of the exercise, Commander Pakistan Fleet said that during Naseem al Bhar-XI the units will be actively involved in exercise under multi threat environments along with host of other 
operations related to counter terrorism, convoy protection, anti-air, anti-submarine, mine counter measure and intelligence based operations.." [more]

Stock Markets Tumble in Oil-Rich Gulf States [Jan 22]
"Stock markets in the energy-rich Gulf Arab states nosedived on Tuesday amid a slide in international stock markets on fears of an economic recession in the United States. The seven markets in the six-nation Gulf Cooperation Council (GCC) states, which made a remarkable recovery last year, lost most of their gains on a nervous trading day. The slide was led by the Saudi stock market, the largest in the Arab world, that shed more than nine percent during trading and dropped below the 10,000-point psychological barrier. Trading in the market was to close at 12:30 GMT. 'The drop in international markets is certainly the main reason for the sharp slide in Gulf stock markets, mainly the Saudi market,'.." [more]

Alwaleed Grants $3m for Housing Project in Sudan [Jan 22]
"Kingdom Foundation (KF), under the chairmanship of Prince Alwaleed bin Talal, donated $3,193,000 to Sudan’s Darfur region for building a complete village that will serve 500 families, complete with water station, clinic, school, police precinct, electric generator, mosque and mill. The contribution was in response to an earlier invitation from President Omar Hasan Bashir of Sudan to Alwaleed to attend the Arab Conference for Humanitarian Support to Darfur that was held in Khartoum on Oct. 21-30, 2007. The invitation was handed to Alwaleed by Sudanese Ambassador to Saudi Arabia Mohamed Amin Alkarib during a meeting with the prince at his office in Riyadh.." [more]

JEF 2008 to Focus on Education [Jan 22]
"The ninth Jeddah Economic Forum (JEF) will focus on involving students in academic and economic interaction, leading educators said. Effat College, in cooperation with Duke University, designed the programs that will be discussed at JEF 2008, as Haifa Jamalallail, dean of Effat College, and Jane Sommers-Kelly, managing director at Duke University, said at a press conference held at the college yesterday.. ..Duke University has been a partner of Effat College for several years now. “Duke is delighted to continue its partnership with Effat College. Our role is to largely focus on designing the schedule of the forum so that the impact of the forum would be as great as possible,” Sommers-Kelly said. 'We listened to the programs proposed by our partners and decided which of them will be most effective programs, different and interactive.'.." [more]

~~~~~~~~ [ Jan 21] ~~~~~~~~~

No Stopping Reforms: King [Jan 21]
"King Abdullah said yesterday that Saudi Arabia would continue proceeding with economic reforms, adding that they would have a positive impact on the economy and the well-being of Saudis. “The Kingdom has undergone several reforms and we will continue with these economic reforms,” King Abdullah said in a speech, which was read out on his behalf by Riyadh Governor Prince Salman at the opening of the 2nd Global Competitiveness Forum here last night. King Abdullah referred to the Kingdom’s judicial reforms, adding that he had allocated SR7 billion to upgrade judicial facilities. The reforms in the education system will cost more than SR11 billion, he added.." [more]

Saudi Disputes Latest US Insurgency Figures [Jan 21]
"Despite the US army's statements that Saudi Arabia and Syria are cooperating in the prevention of militant infiltration into Iraq, Saudi Interior Ministry spokesman Brigadier General Mansur al Turki stated that concerning the decrease in figures of Saudi infiltrators into Iraq that, "[the information] is inaccurate and this area necessitates further research and investigation." Brigadier al Turki added that infiltration did not take place directly from within Saudi Arabia into Iraqi territory, "because Iraq is an open country and it is linked to other neighboring countries through its geographical borders, not just Saudi Arabia," he said. In his statement to Asharq Al-Awsat, he stressed that, "Saudis may be recruited through these [neighboring] states," and added "the issue of increasing or decreasing figures is not a matter that the Saudi Interior Ministry should be questioned about; rather, the source that made these statements should be questioned in whichever relevant country.".." [more]

The Economist Ranks KSA 7th in Higher Education [Jan 21]
"British magazine The Economist has placed Saudi Arabia ahead of France, Russia, Italy, Spain, Malaysia and many other countries in the field of higher education and scientific research, reported the Saudi Press Agency (SPA), Sunday. A recent issue of the global magazine placed the Kingdom on seventh place, SPA said. The Economist report said several factors helped in enabling the Kingdom to occupy this position. These include the number of universities considered among the top 500 in the world. The amount spent on each student in the field of higher education, the percentage of allocations for higher education in the general budget, the total number of external students, and the number of business administration institutes were among the other criteria for making the Kingdom occupy top position.." [more]

Saudi Women Can Now Stay in Hotels Alone [Jan 21]
"Women in Saudi Arabia can now stay in a hotel or a furnished apartment without a male guardian, according to a government decision that comes as the country faces increasing criticism for its severe restrictions on women. The daily Al-Watan, which is deemed close to the Saudi government, reported Monday that the ministry issued a circular to hotels asking them to accept lone women — as long as their information is sent to a local police station. The decision was adopted after a study conducted by the Interior Ministry, the Supreme Commission of Tourism and the religious police authority known as the Commission for the Propagation of Virtue and the Prevention of Vice.." [more]

Russian Railways Wins $800 Million Saudi Project Tender [Jan 21]
"Russian Railways announced on Monday it had won an $800 million tender to build a 520-km (323-mile) rail line in Saudi Arabia. 'The company received an official letter of invitation to talks today from the Saudi Finance Ministry for a contract worth around $800 million,' the Russian railroad monopoly's press service said. The Russian company will build a line from Al Zabirah to the King Khalid international airport (Riyadh) in central Saudi Arabia, which will make up over one fifth of the North-South rail line in the Mideast state, which will have a total route of 2,400 km (1,500 miles).." [more]

Saudi Network Deal Worth $935m [Jan 21]
"Nokia Siemens Networks has won a $935 million turnkey contract with Zain of Saudi Arabia to roll out a greenfield mobile network in the Kingdom. NSN will supply a 2G and 3G mobile network, including core and radio networks, operations and business support systems and applications. The contract includes HSDPA and HSUPA based on the most modern base station design. The deal includes managed services for five years from a dedicated local network operations centre.." [more]

Opec Dismisses US Call to Boost Oil Production [Jan 21]
"Opec dismissed further calls to boost oil output from top consumer the US, saying the global market is well supplied and the producer group has little control over oil prices near $90 a barrel. US Energy Secretary Sam Bodman on Saturday urged top exporter Saudi Arabia and Opec to raise supply on a visit to the kingdom. His appeal came just days after President George W Bush asked the group for more oil on a separate visit to Riyadh, and less than two weeks before Opec’s next meeting on February 1. “I don’t think there is a need to increase because the market is well supplied,” Qatar’s Deputy Premier and Energy Minister HE Abdullah bin Hamad al-Attiyah told reporters on the sidelines of a conference in Abu Dhabi yesterday.." [more]

Saudi Stocks in Steep Drop [Jan 21]
"Saudi stocks fell sharply Sunday on profit taking, spurred mostly by Saudi Basic Industries Corp. (SABIC) missing fourth quarter earnings forecasts and ending a run of record profits that began in 2006. The Tadawul All Share Index (TASI) ended down 7.45 percent or 861.58 points to 10,697.88 points at the closing bell, its biggest one day loss since April 6 last year when it fell 521.47 points. Turnover was pegged at SR15.333 billion with 387.823 million shares changing hands from 109 symbols traded, with 107 of losing ground. "SABIC's below forecast earnings partly have to do with the drop in the Tadawul," John Sfakianakis, chief economist at SABB, said in a telephone interview with Saudi Gazette.." [more]

Military Solution Is No Solution, Says Hess [Jan 21]
"The increasing complexity of interaction between countries and cultures brought about by globalization will inevitably affect Saudi Arabia. It will require innovative diplomatic solutions to survive in a world where military intervention against states is proving decreasingly effective and the balance of power in the energy sector has the potential to shift away from the Middle East toward Central Asia. Such was the message delivered in an intensely focused and detailed lecture at Dar Al-Hekma College in Jeddah last evening by Andrew Hess, professor of international relations and director of the Southwest Asia and Islamic Civilization Program at the Fletcher School of Diplomacy at Tufts University, USA.." [more]

~~~~~~~~ [ Jan 20] ~~~~~~~~~

Senior Saudi Prince Offers Israel Peace Vision [Jan 20]
"A senior Saudi royal has offered Israel a vision of broad cooperation with the Arab world and people-to-people contacts if it signs a peace treaty and withdraws from all occupied Arab territories.. ..Prince Turki al-Faisal, a former ambassador to the United States and Britain and adviser to King Abdullah, said Israel and the Arabs could cooperate in many areas including water, agriculture, science and education. Asked what message he wanted to send to the Israeli public, he said: 'The Arab world, by the Arab peace initiative, has crossed the Rubicon from hostility towards Israel to peace with Israel 
and has extended the hand of peace to Israel, and we await the Israelis picking up our hand and joining us in what inevitably will be beneficial for Israel and for the Arab world.'.." [more]

MM Lee Says Saudi Arabia Needs to Pay Attention to Human Capital [Jan 20]
"Saudi Arabia must pay attention to human capital if it wants to be among the top ten globally competitive investment destinations by 2010, Singapore's Minister Mentor Lee Kuan Yew said during a visit to the kingdom's National Competitive Center in Riyadh.. ..The key challenges facing the kingdom includes the economy's dependency on oil, the risk of rising unemployment as a fast-growing young population enters into the labour market, and low labour productivity. The keys to addressing these challenges include providing a good educational system, high-quality transport and communications 
infrastructure, and a pro-business environment with minimal bureaucracy.." [more]

The Construction Site Called Saudi Arabia [Jan 20]
"..The project is Saudi Arabia’s boldest bet yet that this oil-rich kingdom can transform itself into an industrial powerhouse. The plant is part of a $500 billion investment program to build new cities, create millions of jobs and diversify the economy away from petroleum exports over the next two decades.. ..In Saudi Arabia, Riyadh looks like a boom town: sprawling over 40 miles, it is teeming with shopping malls, electronics stores and luxury boutiques. But while times are good today, many Saudis realize that their country is locked in a race against time to create industries that produce more than just oil in order to keep a young and growing population employed. The kingdom, which has a population of 24.5 million, including nearly 7 million foreigners, has what one analyst called a “human time bomb.” About 40 percent of Saudis are under 15, and because the country has one of the world’s highest birth rates, the population is expected to reach nearly 40 million by 2025.." [more]

Bodman Urges OPEC to Raise Output Amid High Demand [Jan 20]
"US Energy Secretary Samuel Bodman said yesterday that oil-producing countries, including Saudi Arabia, the top supplier, should increase their output to meet the rising energy demand. 'I think it is possible for an increase in supply over a period of time because there is adequate reserve in the Kingdom,' he told newsmen, adding that such a move would gradually ease the problem. 'In my judgment, the new energy reality means the world must develop safe, reliable ,clean, affordable and diverse energy supplies,' he said, stressing that the world needs a more diverse group of energy suppliers and a more diverse network of energy supply routes.." [more]

Saudi, Syria Cut Number of Fighters Getting Into Iraq: US [Jan 20]
"Syria and Saudi Arabia have reduced the flow of foreign insurgents crossing their borders to fight in Iraq, a US military spokesman said on Sunday. "Syria and Saudi Arabia have taken a number of steps to reduce the flow of foreign fighters into Iraq," US military spokesman Rear Admiral Gregory Smith told a press conference in Baghdad. 'In early 2007, 110 foreigners were coming into Iraq from Syria every month. That is now reduced to 40 to 50.'.. ..The United States has in the past accused Arab countries neighbouring Iraq of failing to do enough to stem the flow of foreign fighters sneaking into the country, especially from Syria.." [more]

Chinese Minister Arrives Today [Jan 20]
"Chinese Minister of Defense Cao Gangchuan arrives here Sunday two-day official visit at the invitation of Crown Prince Sultan Bin Abdul Aziz, Deputy Premier, Minister of Defense and Aviation and Inspector General. Cao and Crown Prince Sultan will hold talks on ways of boosting mutual cooperation between the two countries. In a telephone interview with Okaz, the Chinese Ambassador to the Kingdom said that the Saudi-Chinese bilateral relations are witnessing continued growth in various political, economic, cultural and military areas.." [more]

Saudi Women Respond to UN Questions on Rights [Jan 20]
"Saudi businesswomen on Saturday spoke up in defense of Islam but blamed the society for the country's questionable record on gender-equality.. ..Reacting to the questions raised by the 23-member UN committee of experts - most of them women - on Saudi norms that give men the right to twice the inheritance women are allowed, and make women obliged to have a 'Mehram' (male guardian) accompany them for many of life's daily tasks, Dr. Amira Kashgari, an outspoken voice for Saudi women's rights, told Saudi Gazette: 'Islam gave woman her rights 1,400 years ago but now we don't have these right just because of the society.'.. ..According to minutes of the meeting, one of the CEDAW experts asked the Saudi delegation: 'What is the legal basis in Saudi society that justifies this guardian system? ... Is it necessary to maintain this system in the 21st century?'.." [more]

King OKs SR430m Cancer Center [Jan 20]
"An advanced cancer treatment center will be established at King Faisal Specialist Hospital & Research Center in Riyadh at a cost of SR430 million.. ..Al-Qasabi said the new center would be designed to match world-class medical facilities. Every year about 8,000 cases of cancerous tumor are reported in the Kingdom, he said. He estimated that the number of cancer patients in the Kingdom would increase dramatically by 2020. 'This demands advanced diagnosis and treatment,'.." [more]

Qatif Girl’s Lawyer Gets His License Back [Jan 20]
"A disciplinary committee at the Justice Ministry in Riyadh yesterday returned the law license of the Saudi lawyer who represented the “Qatif Girl,” the 20-year-old woman who was kidnapped and raped by seven men last year. Lawyer and human rights activist Abdul Rahman Al-Lahem was returned his license, which was confiscated on Nov. 14 prior to a hearing at Qatif General Court, said Al-Lahem’s lawyer Khaled Al-Mutairi.. ..Al-Mutairi said that since the state prosecutor has not activated the case yet, the charges have become “reserved,” which does not mean that the charges have been dropped 
altogether. 'Legally the prosecutor has the right to file the same lawsuit again and schedule another hearing,'.." [more]

Jan 13 - Jan 19, 2008

~~~~~~~~ [ Jan 19] ~~~~~~~~~

Bush Fails to Persuade Arab Allies [Jan 19]
"Even as smiling members of the Saudi royal family feted President Bush and his entourage this week, presenting the lame-duck leader with an ornamental sword, Saudi Arabia's most prominent English-language daily stabbed him with a pen over his aggressive Iran policy. 'Whatever threat Iran may constitute, now or in the future, must be addressed peaceably and through negotiations,' said an unsigned editorial in Tuesday's Arab News. 'In his confrontational remarks about Iran, [Bush] offers no carrot, no inducement, no compromise -- only the big U.S. stick,' it said. 'This is not diplomacy in search of peace. It is madness in search of war.'.." [more]

9/11 Lawsuit Against Saudis Argued Anew [Jan 19]
"After years of legal maneuvering, a huge lawsuit against the government of Saudi Arabia and key members of its royal family was put to a crucial test yesterday as lawyers for victims of the Sept. 11, 2001, attacks urged a federal appeals court to reinstate the government of Saudi Arabia as a defendant. The Cozen O'Connor law firm of Philadelphia was the first to file suit against the government of Saudi Arabia in 2003, alleging that the desert kingdom bears responsibility for the attacks because it permitted Islamic charities under its control to bankroll Osama bin Laden and his global terror movement.." [more]

UN Committee Questions Saudi on Women’s Rights [Jan 19]
"Saudi officials have been questioned by the UN on the country’s record on gender-equality, according to an account of the UN meeting published in Geneva yesterday. At its opening session on Thursday the 23-member committee of experts — most of them women — that monitors implementation of the UN treaty to combat discrimination against women quizzed the Saudi delegation on the condition of women in the kingdom.. ..Adopted by the UN General Assembly in 1979, the Convention on the Elimination of All Forms of Discrimination against Women, has been ratified by 185 states which must regularly report on how they are implementing its provisions. Members of the committee asked the Saudi delegation why Saudi women do not have the right to 
drive.." [more]

Saudi SABIC Q4 Profit Rises, Below All Forecasts [Jan 19]
"Saudi Basic Industries Corp. 2010.SE (SABIC) made a fourth-quarter profit of 6.87 billion riyals ($1.83 billion), up 12.3 percent from the year-earlier period, missing all analysts' forecasts. Analysts' forecasts for SABIC's fourth-quarter profit ranged from 8.38 billion riyals to 9.1 billion riyals in a Reuters net profit survey last month. SABIC, the world's largest chemicals company by market value, reported a net profit of 6.12 billion riyals in the fourth quarter of 2006.." [more]

Over US$1 Trillion Committed to Developing the Region’s Leisure Landscape [Jan 19]
" staggering US$1.006 trillion (US$1006 billion) has been committed to Leisure projects across the region. Development of the ‘Leisure Landscape’ is a critical part of a total travel and tourism investment of $3.63 trillion encompassing hotels, leisure projects, aviation developments, cruise lines, tourism promotion and supporting infrastructure, across the Middle East, according to the latest findings of a major region wide research programme unveiled today. The Middle East Leisure Landscape 2020 is the latest report from a groundbreaking research study by the think tank Fast Future and Global Futures and Foresight (GFF) on the Future of Travel and Tourism in the Middle East. The study covers 13 Middle Eastern countries for the period to 2020.." [more]

~~~~~~~~ [ Jan 18] ~~~~~~~~~

President Bush Questions Saudi Ability to Raise Oil Supply [Jul 18]
"In an ABC Nightline interview, President Bush recently said of Saudi Arabia, 'If they don't have a lot of additional oil to put on the market, it is hard to ask somebody to do something they may not be able to do.' According to TheOilDrum.com, this statement seems to indicate that George W. Bush, like many others, is skeptical of Saudi oil production claims. Forecasts of future world oil production by official organization like the IEA and the EIA assume OPEC can increase production by any desired amount; if OPEC's capability is limited, official production forecasts are optimistic because they are based on false assumptions.. ..If George Bush were the only one making statements about oil production problems, one might attribute his statement to a misunderstanding, or a slip of the tongue. We find, however, that the Wall Street Journal quoted Alan Greenspan on December 15, 2007, as saying that global oil supply peaked earlier and lower than previously contemplated.." [more]

Saudi Arabia and Syria Spar Over Lebanon [Jan 18]
"Arab League mediation on the presidential vote deadlock continued on Thursday even as Saudi Arabia and Syria got embroiled in a new row over Lebanon.. ..The meeting took place hours after Syria hit back at Saudi Arabia for criticising its role in Lebanon, saying Damascus could not force its Lebanese allies to accept a solution to the country's crisis.. ..'Reaching consensus in Lebanon is a joint Arab responsibility,' he said. 'Saudi Arabia plays a big role in Lebanon. It has allies who boast about their alliance with Saudi Arabia,'.. ..The comments came as an apparent response to Saudi Foreign Minister Prince Saud Al Faisal's earlier call to Damascus to use its influence with its allies in the Lebanese opposition to carry out the Arab League plan to deal with the Lebanese crisis.." [more]

Saudi Arms Corruption Denied [Jan 18]
"Claims British civil servants had 'connived' in corrupt arms deals with Saudi Arabia for more than 30 years have been denied by Defence Secretary Des Browne. But recently-discovered documents in the National Archives show Ministry of Defence officials made clear in 1976 the Saudis expected "appropriately discreet arrangements" to be made for payments. The then head of defence sales at the MoD, Lester Suffield, said that although they were described as 'technical consultancy' fees, they were designed to 'sway' decisions on the award of arms contracts.. ..Asked whether, since the 1970s, British civil servants have been 'aware of, connived at, and have facilitated defence exports to Saudi Arabia tainted with corruption', he reiterated the MoD's assertion that such claims were 'totally unfounded'.." [more]

Japan's Mizuho Corporate Bank Considers Establishing Base in Saudi Arabia [Jan 18]
"Mizuho Corporate Bank is considering setting up a local unit in Riyadh, Saudi Arabia to target the growing wealth in the region due to surging crude oil prices, the Sankei Shimbun reported in its Friday morning edition. The institutional banking unit of Mizuho Financial Group Inc. (8411.TO) could set up an office in Saudi Arabia as early as this year, provided approval can be obtained from the Saudi authorities, the report said. This would mark the first time that a major Japanese bank has set up a unit in Saudi Arabia.." [more]

Arabian American Development Company's ALAK Joint Venture Receives Commercial License [Jan 18]
"Arabian American Development Co. today announced that the Company's joint venture, Al-Masane Al-Kobra Mining Company (ALAK), has received its official Commercial License dated January 15, 2008 from the Saudi Arabian Ministry of Commerce. The license formalizes the establishment of the joint stock company and allows it to conduct business in the Kingdom. ALAK has scheduled a meeting of the Board of Directors for January 26, 2008 in Jeddah, Saudi Arabia.. ..Arabian American owns and operates a petrochemical facility employing about 150 people located in southeast Texas just north of Beaumont, specializing in high purity petrochemical solvents and other solvent type manufacturing. Arabian American also has a mining project in the Al-Masane area of Saudi Arabia which is under development and is expected to produce economic quantities of zinc, copper, gold, and silver when it is put into production. There are about 20 employees at the mine site.." [more]

Saudi Ambassador Participates in New Delhi Symposium 2 [Jan 18]
"The Ambassador pointed out that a just and comprehensive peace in the region can only be achieved through full Israeli withdrawal from the occupied Palestinian and Arab territories in addition to the establishment of an independent Palestinian state with full sovereignty over the Palestinian territories as well as finding a just solution to the problem of Palestinian refugees.. ..The Symposium was attended by Indian Minister of State for External Affairs E. Ahmed and a number of Arab ambassadors accredited to New Delhi.." [more]

Saudi Higher Education Reforms Raise Questions [Jan 18]
"..Under the leadership of reform-minded King Abdullah, the country has begun a massive overhaul of its higher education system. The Higher Education Ministry has opened more than 100 new universities and colleges in the past four years, funded by a $15 billion budget.. ..But critics both inside and outside the kingdom are skeptical that these new universities, even with Western faculty and Western-designed curricula, will be able to flourish in the restrictive Saudi environment.. .. 'If you want to build a Western-style university in Saudi Arabia, you have to remember that these institutions prospered because of the freedom of those societies. You have to be comfortable asking questions.' Even the special status accorded to KAUST by King Abdullah's sponsorship may not be enough to protect it from adversarial forces in Saudi society.." [more]

Saudi Markets Have Right Ingredients for Growth [Jan 18]
"The Saudi Arabian securities market is expected to witness a positive momentum throughout 2008, according to UAE-based investment bank Shuaa Capital. Shuaa said in its report on the Saudi equity markets, titled Vision 2008, that the gains are likely to be driven by a stronger earnings growth and a benign economic environment, supported by burgeoning optimism in the market at a time of lower interest rates and accumulating liquidity. The report forecast nominal gross domestic product (GDP) will grow at about 16 per cent to reach $435 billion (Dh1.59 trillion), with real growth of about 7.3 per cent. The Saudi equity market managed to record a convincing recovery in 2007 culminating in a 41 per cent gain for the benchmark Tadawul All Share Index.." [more]

SR654m to Be Disbursed to Fight Cold [Jan 18]
"Custodian of the Two Holy Mosques King Abdullah ordered aid worth SR654 million to be distributed among social security beneficiaries to help them live through the extreme cold weather in the Kingdom, Minister of Social Affairs Abdul Mohsen Al-Akkas said yesterday. The royal order specified that the aid, in addition to the regular handouts, was to buy winter clothes to help people overcome the severe cold.. ..Since the beginning of this month, the ministry disbursed SR815 million in social security benefits, he added. At least 10 people and hundreds of animals have died as a result of unprecedented cold weather in different parts of the Kingdom.." [more]

~~~~~~~~ [ Jan 17] ~~~~~~~~~

UN Watch Challenges Saudi Arabian Testimony to UN Women’s Rights Panel [Jan 17]
"UN Watch expressed disappointment that Saudi Arabia today used its first appearance before a UN expert panel on women’s rights to mask the pervasive discrimination against women in the desert kingdom. 'Instead of sending massive delegations to the UN to pretend that Saudi women are not treated like chattel, Riyadh should focus on reforming the kind of discriminatory laws that sentence women rape victims to 90 lashes, and double if they appeal,' said Hillel Neuer, executive director of the Geneva-based monitoring group. As a newly elected member of the 47-nation UN Human Rights Council, said Neuer, 'it is high time for Saudi Arabia to live up to its solemn undertakings under international law to respect women’s equality.'.." [more]

Lee Visits Saudi Arabia From Jan 17-23 [Jan 17]
"Minister Mentor Lee Kuan Yew is visiting Saudi Arabia – namely, the cities of Jeddah and Riyadh – from 17 to 23 January. In Jeddah, MM Lee will meet senior government officials and be briefed on the King Abdullah Economic City. In Riyadh, Mr Lee will be speaking at the Global Competitiveness Forum, which is organised by the Saudi Arabian General Investment Authority. He will also meet members of the Saudi royal family, senior officials and leading businessmen.." [more]

Syria-Saudi Row Erupts Over Role in Lebanon [Jan 17]
"Syria hit back at Saudi Arabia yesterday for criticising its role in Lebanon, saying it could not force its Lebanese allies to accept a solution to the political crisis there. “Dealing with Syria as if it was still in Lebanon or as if its allies are a tool represents an insult to a large proportion of the Lebanese,” Information Minister Mohsen Bilal told reporters. 'Reaching consensus in Lebanon is a joint Arab responsibility. Saudi Arabia plays a big role in Lebanon. It has allies who boast about their alliance with Saudi Arabia,'.." [more]

Women Work Force Key to Kingdom’s Advancement [Jan 17]
"The lack of employed women in the Saudi labor force creates an imbalance in which only thirty percent of the population provide financial support to the great majority, said chairman Saleh Al-Turki of the Jeddah Chamber of Commerce and Industry (JCCI) yesterday. 'Even in a country like South Africa, women’s participation in the job market is higher than any other country in the Middle East,' he said. 'In order to achieve competitiveness of economy, we need a highly qualified labor force to increase productivity and therefore increase the general income of the country,' Al-Turki said during a presentation at the JCCI on the importance of working women in Islamic history. He noted that to be able to achieve economic competitiveness, employment should be based on qualifications and not on gender.." [more]

Lower Inflation: Saudi Arabia [Jan 17]
"Saudi economists have stated inflation is set to lessen in the second half of this year despite continued price increases for rent and essential food products. Economists in the kingdom have said they believe a reduction in global inflationary pressures and domestic supply bottlenecks will ease the problem in the latter half of 2008. Record levels of price increases have caused concern among the government and public alike. Inflation reached 4.4% by the end of 2007, up from 2.2% the previous year. Some larger cities have endured levels as high as 6%.. ..according to the ministry of commerce and industry, prices of food products - a prime indicator of inflation, particularly for middle income families - could go up by a further 20% to 30% this year due to a worldwide shortage.." [more]

Lotus Engineering To Help Saudi Arabia Rev Up Its Nascent Auto Industry [Jan 17]
"All eyes may have been on the Motor City this week, but Lotus Engineering has turned its firepower in another direction: toward Saudi Arabia. Lotus Engineering on Wednesday announced that it has entered into a joint cooperation program with the King Abdulaziz City for Science and Technology (KACST) "with the intention to promote the establishment of an ecologically driven automotive technology capability in the Kingdom of Saudi Arabia." In other words, Saudi Arabia apparently has ambitious plans to develop a Middle Eastern version of Detroit.." [more]

~~~~~~~~ [ Jan 16] ~~~~~~~~~

U.S. Lawmakers Try to Stop Boeing Sale to Saudis [Jan 16]
" U.S. lawmakers announced legislation on Tuesday to block a planned sale of Boeing Co bomb-guidance kits to Saudi Arabia and said they would urge the chairman of a key House panel to allow a vote. Calling the Bush administration's plans to sell the sophisticated weaponry to Saudi Arabia 'folly,' Democratic Representatives Anthony Weiner and Robert Wexler said Riyadh had been more of an enemy than an ally in the war on terror. They have 51 co-sponsors in the 431-member House for their resolution to block the $123 million transaction. But they acknowledged they faced an uphill battle, because the chairman of the House Foreign Affairs Committee, Rep. Tom Lantos, has said he has no plans to schedule such a resolution for a vote, bottling it up in the committee.." [more]

Saudi Arabia, US Reiterate Support for Arab Peace Plan in Lebanon [Jan 16]
"Saudi Arabia and the United States have reiterated their support for the Arab League peace plan for Lebanon and called for electing the candidate with the national consensus. Saudi Foreign Minister Prince Saud Al-Faisal and his US counterpart Condoleezza Rice condemned, in a joint press conference Tuesday, the blast which occurred in Beirut and targeted a US embassy vehicle driving along the northern seaside highway out of Beirut. He said that the incident will have no effect on the Arab peace plan for Lebanon. For her part, Rice underlined the common denominators between the Saudi and US visions for peace in the area. She called for 'letting the Lebanese elect their president because the situation in Lebanon requires a president to be there.'.." [more]

Saudi Dec Inflation Hits 6.5 Pct as Rate Cuts Loom [Jan 16]
"Saudi inflation hit 6.5 percent in December, its highest level in at least 12 years, leaving the world's top oil-exporter with negative interest rates as its central bank faces the prospect of matching more U.S. rate cuts. Inflation in the largest Arab economy, which has been rising since May, accelerated from 6 percent year-on-year in November when rents surged more than 15 percent, data provided by the Central Department of Statistics showed on Wednesday. The cost of living index was 110.2 points on Dec. 31 compared with 103.5 points a year earlier, an official at the Ministry of Economy and Planning 
said, declining to be identified. He would not give details. The central bank is constrained in the fight against inflation by the riyal currency's peg to the dollar, which forces it to track U.S. monetary policy at a time when the U.S. Federal Reserve is cutting interest rates.." [more]

Saudi Landbridge Contract to be Awarded by March 2008 [Jan 16]
"The Saudi Railways Organization (SRO) is expected to award the estimated US $5 billion BOT contract for the Landbridge project within the next two months according to one of the bidding consortia. Bids for the project are currently under evaluation. Four bidders that were pre-qualified to participate in the tender for the Saudi Landbridge Project have submitted their bids.. ..It will have the capability to move large quantities of cargo over long distances at competitive rates and will offer safe and comfortable overland passenger transport. The Landbridge will connect the port cities of Jeddah, Dammam and Jubail and will pass through the capital city Riyadh, serving its dry port.." [more]

Oil Output Hike Only If Justified – Naimi [Jan 16]
"Saudi Arabia will increase crude output if such a rise is justified, Oil Minister Ali Al-Naimi said Tuesday, a day after visiting US President George W. Bush said on arrival here that high oil prices were hurting the US economy. 'We will raise production when the market justifies it, this is our policy," Al-Naimi said at a press conference. "OPEC in its forthcoming meeting will of course look at all the available data such as the projected demand, the supply available and particularly the world inventory levels and decide accordingly,' Naimi said. OPEC is due to meet in February under pressure to calm prices after shrugging off calls to increase output at its last meeting in December.." [more]

Kingdom Represents 65% of GCC Pharmaceutical Market [Jan 16]
"Saudi represents 65 percent of the $2.7 billion GCC pharmaceutical market, Pharma World Holdings — the first 3PL provider within the GCC — said yesterday. Of the $1.7 billion Saudi market, therapeutic classes make up 80 percent, with systematic hormones making up $291 million, Alimentary T & metabolism represent $260 million, respiratory system comprises $162 million, G.U. system & sex hormones make up $145 million, nervous system covers $128 million, cardio system makes up $121 million and musculo-skeletal system constitutes $111 million, Pharma World said in a statement.." [more]

~~~~~~~~ [ Jan 15] ~~~~~~~~~

President Bush Presents Major Arms Sale To Saudi Arabia [Jan 15]
"US President George Bush, on his first visit to Saudi Arabia, presented a major arms sale Monday to the Saudi monarch as part of the US strategy to bolster the defenses of oil-producing Gulf nations against threats from Iran. Bush's talks with Saudi King Abdullah at his palace in Riyadh over dinner, were continuing until late on Monday, and are expected to cover peace between Israelis and Palestinians, democracy in the Middle East and rising crude oil prices. Saudi Arabia accounts for almost one-third of OPEC's total output.. ..Saudi Arabia and other Gulf states with majority Sunni Muslim populations, have deep concerns about growing military ambitions of neighboring Shiite Iran and its apparent designs to establish itself as a major power in the Middle East.." [more]

Bush Pushes Saudis for Help With Rising Oil Prices [Jan 15]
"President Bush used his visit to Saudi Arabia on Tuesday to push for increased oil production to help the U.S. economy by forcing fuel costs down. Oil prices have peaked at $100 a barrel and are hovering just below triple digits, adding to fears that historically high fuel prices could help push the U.S. economy into recession.. ..King Abdullah huddled with Bush on Monday night, and the two leaders were to meet again Tuesday. 'We've got a lot of things to talk about, but I want to assure you it's in the spirit of friendship,' Bush said. The president also was expected to attend a "Roundtable with Saudi Entrepreneurs" hosted at the U.S. Embassy.." [more]

This Is Not the Time for Provocation: Saud [Jan 15]
"Saudi Arabia yesterday expressed its reservations about what it termed 'provocative' statements by US President George W. Bush on Iran during his current Gulf tour. 'I am talking about Saudi Arabia’s point of view. This is not the time for any provocation in the region,' said Foreign Minister Prince Saud Al-Faisal while replying to a question about statements made by Bush in various Gulf countries regarding Iran. Bush, who arrived in the Kingdom yesterday after visiting a number of Gulf countries, described Iran as a global threat. Prince Saud said: 'We hope that Iran will comply with the demands of the International Atomic Energy Agency (IAEA). These are our wishes but things are not in our hands.'.." [more]

Saudi Prince Alwaleed Confirms Added Citigroup Investment [Jan 15]
"Saudi Prince Alwaleed Bin Talal, a longtime Citigroup Inc. (C) shareholder, confirmed his participation in Citigroup's $12.5 billion private placement and public offering of preferred shares. The size of Prince Alwaleed's investment is in line with maintaining direct and indirect interest below the 4.9% ownership threshold, according to a release from his private office. This is the second time Prince Alwaleed has contributed capital to strengthen Citigroup's balance sheet, after pumping $590 illion into what was then known as Citicorp in 1991. Currently, Kingdom Holding, which is 95%-owned by Prince Alwaleed, owns a 3.6% stake in Citigroup.." [more]

Naimi Says OPEC Will Raise Output When Required [Jan 15]
"Saudi Oil Minister Ali al-Naimi said OPEC will take crude-oil stockpiles in consuming countries into account when making its next output decision and will raise production if required. The Organization of Petroleum Exporting Countries 'will raise production when the market justifies it'.. ..Saudi Arabia has held back about 2 million barrels a day of oil that could be supplied to the market if needed, Naimi said. Crude oil futures traded near $94 a barrel as analysts forecast that crude inventories rose in the U.S. for the first time in nine weeks. Oil has fallen about 6 percent from its record of $100.09 a barrel on Jan. 3.." [more]

Apostolic Vicar to Saudi Arabia on Religious Freedom [Jan 15]
"On Monday Pope Benedict XVI received a first delegation in private audience here at the Vatican. Among them Bishop Paul Hinder, Apostolic Vicar to the Gulf Nations including the Kingdom of Saudi Arabia. Bishop Hinder spoke about the challenges facing the Church in the region and the historic 2007 meeting between Pope Benedict XVI and of King Abdallah: 'I think King Abdullah’s visit to the Pope was a very very strong sign also, for the country itself, it was reported in national press, which wouldn’t have happened without agreement from top levels that the general public could be shown pictures of the Pope with the cross. These are signs which show a certain will, or intention to greater 'opening'. Now of course we, especially Europeans, we have a tendency to expect fruits immediately, I don’t think that’s the right way to approach the Arabian world and especially not Saudi Arabia, where we have to do with a very complex situation where it takes time and patience. There might be two steps forward and in certain situations there might also be a step backwards.." [more]

Return to Reason, Mr. President [Jan 15]
"..it is important that America portrays itself as the country that it really is — one that lives up to its Jeffersonian and Lincolnian principles. As for the Palestinians, set them free and prevail upon your friends and the Israeli lobby that Israel has no choice but to withdraw from the West Bank and Gaza — not to indulge the Palestinians but to save itself .  The solution to the Palestine problem will go a long way to bring peace. The world is changing; America is changing. The Palestinians want freedom and they should get it. America can play a great role. We in the Gulf want to progress and, here too, a US role is important — not by intolerable military assault but by economic and diplomatic means. Mr. Bush, the time has come for you and America to play a historic role in letting down the curtain so a new act can follow, that can bring peace and prosperity for all.." [more]

~~~~~~~~ [ Jan 14] ~~~~~~~~~

Bush Arrives in Saudi Arabia [Jan 14]
"US President George W. Bush arrived in Saudi Arabia on Monday on the latest leg of a regional tour aimed at fostering Middle East peace and isolating Iran. Bush, on his first visit to Saudi Arabia as president, was greeted on arrival by King Abdullah. The two leaders embraced before their national anthems were played and then reviewed the troops. The president aims to rally support from the regional powerhouse for his campaign to isolate archfoe Iran and for his target of an Israeli-Palestinian peace deal by the January 2009 end of his term in office. During a visit of less than 48 hours, Bush and
Abdullah were to dine and then hold talks at the Riyadh palace which also serves as the king's personal residence.." ]more]

Bush Seen Facing Difficult Talks During Riyadh Visit [Jan 14]
"Saudi King Abdullah hosts US President George W Bush at his ranch outside Riyadh today, but despite the intimacy of the setting the two allies face “difficult talks” on Iran and the Middle East conflict, analysts and diplomats say. Saudi officials have expressed alarm at the mounting war of words between Washington and Tehran and pointedly called for restraint on both sides when a naval confrontation at the entrance to the Gulf sparked a new flare-up earlier this month. The king is also set to rebuff Bush’s call – issued in Israel on the first leg of his week-long Middle East tour – for Arab nations to 'reach out' to the Jewish state.. ..Foreign Minister Prince Saud al-Faisal set the tone on Wednesday when he said that the kingdom wants to maintain peaceful ties with Iran, despite the new tensions between Washington and Tehran.." [more]

France's Sarkozy Offers Saudi Arabia Nuclear Help [Jan 14]
"French President Nicolas Sarkozy has offered Saudi Arabia help in developing peaceful nuclear energy at the start of a Gulf tour he hopes will secure billions of dollars in contracts for French firms.. ..Sarkozy, who has already signed civilian nuclear deals with Arab oil producers Algeria and Libya, has made no secret of his view that all states have a right to atomic power. 'I have often said that the Muslim world does not have less right than the rest of the world to use civilian nuclear power to meet its energy needs in full conformity with the obligations that derive from international law,'.. ..The Gulf Cooperation Council -- a loose economic and political alliance of six Gulf Arab states including the UAE -- said last year it was studying a joint nuclear energy programme and has been in touch with the U.N. atomic energy watchdog about cooperating over such a scheme.." [more]

Pursuing Happiness Behind the Veil [Jan 14]
"To be the American wife of a Saudi is to forsake familiar freedoms — or enjoy them secretly — in exchange for a secure, family-centered life.. ..For American women married to Saudi men, such is life in this exotic, repressive and often beguiling society where tribal customs and religious fervor rub against oil wealth and the tinted-glass skyscrapers that rise Oz-like in the blurry desert heat. This is not a land of the 1st Amendment and voting rights.. ..Many American women, including those who converted before they arrived, have embraced the Koran; for others, the adoption of Islam is a pantomime act, the disguise of a second self to hold them over until they peel off their head scarves and travel to the U.S. for summer vacations. For both kinds of women, it is a life of sacrifices and measured victories.." [more]

OPEC Would Raise Oil Supply if Needed [Jan 14]
"OPEC will raise oil output if needed at meetings on Feb. 1 and March 5, but supply is enough for now and speculation is the biggest factor driving prices, OPEC's secretary-general said on Monday. The Organization of the Petroleum Exporting Countries has blamed reasons beyond its control, such as speculation and political tension, for a surge in oil prices that hit $100 a barrel for the first time earlier this month. 'We are sure there is enough supply in the market,' OPEC Secretary-General Abdullah al-Badri said in an interview at the group's Vienna headquarters. 'The ministers would not be hesitant to increase production if the market is in need of more oil,' he said, adding none of the OPEC member states would like to see a slowdown in the world economy.." [more]

Saudi Arabia, EU Near Accord to Curb Fake Products [Jan 14]
"Saudi Arabia and the European Union are holding talks on protecting their products in both markets. 'The talks are in the final stages,' Dimitrios Michas, Greek counsellor for economic and commercial affairs in Jeddah was quoted as saying by Arab News during the latter’s stay at the Greek island as a guest. He said the agreement would protect several important Saudi and European products in both markets. 'After this accord, we’ll not allow the circulation of fake Madinah dates in European markets.'.. ..The move to sign the new accord comes at a time when GCC and EU officials are putting final touches on a long-awaited free trade agreement, which is expected to boost trade between the two. At present GCC countries import products worth 47.4 billion euros from Europe, accounting for one third of the total imports. The GCC represents EU’s fifth largest trading partner.." [more]

246 Saudis Slipped Into Iraq in 2 Years [Jan 14]
" Data seized by US forces in Iraq reveal that 246 of 600 foreign militants smuggled into the country for so-called jihadist operation over the past two years were from Saudi Arabia, the Arabic daily Al-Hayat reported. The militants were reportedly smuggled across the Syrian border to join insurgents in Iraq fighting to establish the so-called 'Islamic state of Iraq.' The report said most of the volunteers were recruited from their home countries through contacts in mosques and universities or at the workplace. Some were reportedly recruited in Makkah during the Haj or via the Internet. The paper attributed the
information to forms confiscated by the US army some time ago during military raids on militant sites in Iraq. The forms contained the full names of the recruits, telephone numbers of their relatives and friends who enlisted them, names of the persons in Syria who received them on arrival, and the names of those who helped smuggle them into Iraq.." [more]

Saudi to Keep Crude Sales to Asia Full for Feb [Jan 14]
"Top oil exporter Saudi Arabia will supply full contracted volumes of crude to Asia for February, steady to January levels as expected, three lifters said on Monday. 'We got no cut on our February Saudi grade liftings. We got the volume we nominated,' a lifter said, adding that there would be no additional volumes. Three lifters said they had yet to receive an official notification of full volumes.." [more]

Imminent Accession of Yemen as Seventh State in GCC [Jan 14]
"Secretary-General of the Gulf Cooperation Council (GCC) Abdul-Rahman al-Attiyah pointed to the imminent accession of Yemen as a seventh state in GCC. The Saudi al-Jazeera daily quoted al-Attiyah as saying that the Saudi King Abdullah bin Abdul-Azizi's initiative to the GCC leaders to accept Yemen's accession in the Gulf council was approved by all the leaders.." [more]

~~~~~~~~ [ Jan 13] ~~~~~~~~~

How The Arab Press Sees Bush Trip [Jan 13]
"The President of the United States arrives in the Middle East saying he's trying to make peace one more time. At home, in a week of big political news, the story fights for airtime. But in the Middle East, on the growing galaxy of state and independent television channels, it was 'all Bush, all the time.' And, depending what you were watching, you could have been forgiven for wondering if what you were seeing was the same event. If beauty is in the eye of the beholder, so is news.. ..Hisham Melhem works in the new growing world Arab media. 'The media landscape has changed radically in a revolutionary way,' he said. 'Today we have more than 250 satellite television stations, we have 19 new radio stations in the last few years. We have a different media reality that is taking shape in the Arab world, and the powers-that-be cannot ignore it'.." [more]

Sarkozy Begins Gulf Tour in Saudi Arabia [Jan 13]
"French President Nicolas Sarkozy flew in to Saudi Arabia on Sunday at the launch of a three-nation Gulf Arab tour, ready to share France's expertise in nuclear technology. He landed in Saudi Arabia as US President George W. Bush tours the region to rally support for his policy of isolating Iran over its controversial nuclear activities. Sarkozy is on his first trip to the region since taking office in May and will visit three energy-rich Gulf states.. ..Sarkozy described Saudi Arabia as a key ally of France and a 'pole of moderation and stability' in a troubled region. The aim of the visit to 'is to give a new dimension to our strategic partnership with Saudi Arabia,'.." [more]

Bush to Unveil $20bn Saudi Arms Deal [Jan 13]
"The Bush administration is set to announce a $20 billion advanced weaponry deal with Saudi Arabia and other Gulf states on Monday in an attempt to win support from the region for further sanctions against Iran. The weapons deal, which was first announced in July 2007, was postponed over opposition from the US Congress, but the administration is expected to notify Congress on Monday of its intent to conclude the deal as the US president lands in Riyadh as part of his regional tour.. ..The deals are designed to support US allies in the Middle East as a counterweight to regional power Iran, with the Bush administration stating last year that the common goal of the military aid packages and arms sales was to strengthen pro-Western countries as Iran seeks to extend its power in the region.." [more]

NUS President to Leave Post and Lead New Saudi University [Jan 13]
"Professor Shih Choon Fong has been chosen to lead a new research university in Saudi Arabia. The President of the National University of Singapore will leave NUS at the end of 2008. Professor Tan Chorh Chuan has been named as his successor. By 1 December 2008, 62-year-old Professor Shih will assume his duties as the Founding President of King Abdullah University of Science and Technology (KAUST). He was picked by the Chairman of the university's Board of Trustees, Mr Ali Ibrahim Al-Naimi, after an extensive international search among top academic research leaders. KAUST is touted as a 'world-class, graduate-level scientific research university', which is still under development in Saudi Arabia.." [more]

Israel to Get Smarter US-Made Bombs Than Saudis [Jan 13]
"The United States has agreed in principle to provide Israel with better 'smart bombs' than those it plans to sell Saudi Arabia under a regional defence package, senior Israeli security sources said on Sunday.. ..The plan has angered Israel's backers in Washington, who say the JDAMs, which give satellite guidance for bombs, may one day be used against the Jewish state .. ..Israeli Prime Minister Ehud Olmert's government dropped its objections to the proposed Saudi deal in July after securing U.S. military aid grants worth $30 billion over the next decade. Two Israeli security sources said the United States further mollified the Olmert government with an 'understanding in principle' that future JDAM sales to Israel would include advanced technologies not on offer to Saudi Arabia.." [more]

No Saudi Launchpad for Attack [Jan 13]
"A leading Saudi newspaper yesterday ruled out any attempt by the US to use the kingdom as a launchpad for a possible war on Iran over Tehran’s disputed nuclear programme. Two days before a visit to Saudi Arabia by US President George W Bush, the daily Al Riyadh said: 'We refuse to be used to launch wars or tensions with Iran.' 'This issue can be solved through diplomatic means and through dialogue,' said the paper.. ..'If the president wants to obtain the solidarity of all the Arabs... he must focus, rationally, on the most important issue which is the question of peace,' Al Riyadh said.." [more]

Mass Boycott Starts [Jan 13]
"Saudi citizens began Saturday a five-day campaign to boycott all local dairy products in a bid to stop spiraling prices of dairy products in the Kingdom. 'Let them rot' was the name of the campaign, which gained momentum through SMS messages, emails and websites requesting citizens to join the boycott for five days - the shelf life period of a dairy product. The campaign hit many stores that reported a drop in dairy sales.. ..The row began when many of the dairy factories in Saudi Arabia decided to increase prices by as much as 20 percent. The move drew the wrath of Saudi citizens across the country.. 
..The Saudi market is one of the best consumer markets in the world as far as dairy products are concerned. Latest statistics show that Saudi Arabia consumes 892 million liters of milk, flavored milk, and laban annually.." [more]

NCB Seeks Review of Riyal Peg to Dollar [Jan 13]
"Saudi Arabia needs to gradually change the riyal currency’s peg to the weak US dollar to protect the value of its reserves, most of which are invested in the United States, state-owned National Commercial Bank (NCB) said. The Kingdom’s central bank — Saudi Arabian Monetary Agency — has repeatedly ruled out changing the riyal’s exchange rate to the dollar.. ..The dollar peg forces the Saudi central bank to track US monetary policy at a time when the Federal Reserve is cutting interest rates and inflation in the Kingdom was at its highest in at least 12 years in October. The US dollar fell more than 10 percent 
against the euro last year and more than 6 percent against the yen, driving up the cost of Saudi imports from those countries and fuelling inflation.." [more]

Divorce in Saudi Society Symposium Planned in Riyadh [Jan 13]
"The divorce rate in Saudi Arabia has reached more than 30 percent of the total number of marriages in the year, the Ministry of Social Affairs announced yesterday. In a move aimed at focusing on the alarming number of divorces in Saudi Arabia, the ministry, upon receiving directives from Minister of Social Affairs Abdul Muhsin Al-Akkas, will sponsor the first symposium to discuss the problem at national level. Entitled 'Divorce in Saudi Society,' the symposium will be held at the Prince Salman Social Center in Riyadh. A panel of sociologists, psychologists, and religious scholars will discuss the topic, particularly its effects on society as well as its psychological and religious aspects.." [more]

Jan 6 - Jan 12, 2008

~~~~~~~~ [ Jan 12] ~~~~~~~~~

Bush Urged to Free Saudis Held at Gitmo [Jan 12]
"Saudi Arabia’s National Society for Human Rights (NSHR) has called for US President George W. Bush’s intervention for the release of remaining Saudi detainees in Guantanamo and Saudi student Humaidan Al-Turki. The call comes on the occasion of the US president’s landmark visit to Saudi Arabia. In a letter submitted to the US Embassy in Riyadh, the NSHR said the release would contribute to strengthening relations between the two countries. 'The issues of Guantanamo and Humaidan Al-Turki have left a negative impression on the American administration and had a negative impact on the six-decade-long relations between peoples of the two friendly countries,'.." [more]

Saudi Releases Activist Ahead of Bush Visit [Jan 12]
"Saudi Arabia has released a reform activist just days before a visit by U.S. President George W. Bush. Mohammed al-Bijadi was detained by state security police in the northern town of Buraida on Wednesday, the latest of a series of measures against government critics in the absolute monarchy dominated by the Saudi royal family.. ..Bush arrives in Riyadh on Monday as part of a Middle East tour. Washington rarely makes public criticism of Saudi Arabia, the world's biggest oil exporter which relies on U.S. military support in the Gulf, over its political and human rights record. But Bush spoke out against a Saudi court verdict condemning a gang rape victim to 200 lashes in a case that provoked international outcry in November.." [more]

Mideast Stock Markets to Get Additional Momentum [Jan 12]
"Middle East stock markets kept their upward trend last week and financial analysts said yesterday they expected regional bourses to receive an additional momentum from US President George W. Bush’s current tour of the region. 'I believe Arab stock markets stand to gain from Bush’s trip, particularly if it succeeds to bring about a breakthrough in the decades-old Arab-Israeli conflict,'.. ..The Tadawul All-Share Index (TASI) climbed 6.9 percent last week, closing at 11,643.18 points from 10,892.64 points previous week. 'Positive economic indicators fueled by soaring oil prices are at the heart of the surge in investors’ confidence,' the Riyadh-based Bakheet Investment Group (BIG) said in its weekly report.." [more]

Saudi Arabia Should Revalue its Currency [Jan 12]
"Saudi Arabia should revalue its currency because imported inflation owing to riyal's peg to the weakening dollar is hurting the Saudi middle-class, an economist said. Saeed Al Shaikh, chief economist at National Commercial Bank, said a currency revaluation should be on top of the agenda to contain inflation in the country. He said 'the time has come for us to reconsider the continued pegging' of the Saudi riyal with the US dollar and called for a gradual ending of the peg. 'The impact of inflation has expanded to include the middle class,'.." [more]

Citi May Get Cash From Saudi Prince [Jan 12]
"Prince Alwaleed bin Talal, the Citigroup shareholder that came to the bank's rescue during the credit crisis of the early 1990s, might do so again now, the Wall Street Journal reported on its Web site Friday, citing people familiar with the matter. The billionaire from Saudi Arabia, along with China Development Bank, is expected to invest about $2 billion in Citigroup Inc., one person said, according to the Journal. The Journal also said, however, there is a chance the deal could fall apart. The cash-strapped Citigroup, hurt by the mortgage crisis that boiled up last year, has already gotten $7.5 billion from the Abu Dhabi Investment Authority. On Nov. 26, the ADIA bought a 4.9 percent stake in Citi, becoming its largest shareholder. Alwaleed may take back that title if he makes another investment in Citi, though the report said his total stake is likely to remain below 5 percent to avoid regulatory scrutiny.." [more]

America's Freedom Agenda is Still Valid [Jan 12]
".. highlights the need for continued emphasis on human rights and promotion of democracy. Indeed, growing cynicism in this regard is a dangerous trend, because this is the one issue that still appeals to the people of the Middle East and can help immensely in the Western powers' battle to win hearts and minds in our region. Washington's 'freedom agenda' is not the cause of its current travails in the Middle East. The problem has been a lack of consistency in promoting the agenda, failure to develop broader international support, and the behavior of the US itself, which has presented it as a martial plan, rather than a Marshall Plan. Whatever the cause of these shortcomings, the lesson that US and European policymakers should draw is that the objective -- facilitating democratization and modernization -- remains valid, despite the need for a change in tactics. Abandoning the freedom agenda would reaffirm the still-popular notion that all the US really cares about in the Middle East is oil and Israeli security, at the expense of everything else including regional development and the well-being of Arab and Muslim peoples.." [more]

~~~~~~~~ [ Jan 11] ~~~~~~~~~

Saudi-German Trade Stronger [Jan 11]
"The volume of Saudi-German investment in the Kingdom is estimated at at SR4.1 billion in 115 projects, the Jeddah Chamber of Commerce and Industry (JCCI) said. 'This shows the success of the Kingdom's steps to attract foreign investments with a target of SR620 billion over the next few years,' Saleh Turki, chairman of JCCI, said following a meeting with Consul General of Germany Dr. Michael Zickerick at the chamber headquarters here yesterday. The mutual trade between the two countries rose by 15 percent in 2006.." [more]

Saudis Boycott Products to Fight Price Rise [Jan 11]
"A boycott campaign has popped up. This time it’s not targeting American or Danish products for political or religious motives, but rather to face the current rising prices of basic products. Since the beginning of 2007, there has been an unprecedented hike in food prices in the Kingdom. Inflation was 2.5 percent last year. Economists predict 4.1 percent in 2008. A group of activists have called to boycott consumer goods whose prices have risen sharply. An SMS has been distributed recently calling for a boycott of milk products, for example, whose prices have noticeably increased.." [more]

Saudi Arabia Covered With Snow in Coldest Winter for 20 Years [Jan 11]
"Northern parts of Saudi Arabia are covered with snow with schools, mosques and administrative bodies paralyzed, local media reported Friday. The oil-rich kingdom is being hit with subzero temperatures and snow storms with freezing winds of up to 50 km/h (30mp/h). Some regions have been experiencing problems with water supplies as pipes have frozen, and livestock has died from the cold. The Saudi Gazette reported late in December that the winter was expected to last 89 days, with temperatures reaching below zero. National media said the winter is the coldest in the country for 20 years.." [more]

Saudis Search for Inflation Scapegoat [Jan 11]
"George W. Bush is widely blamed in the Arab world for creating political crises. But in the Gulf the US president is at risk of also taking the heat for the spike in inflation as ordinary people focus their grievances on the impact of a weak dollar.. ..Although Middle Eastern governments like to blame domestic troubles on outside factors, Riyadh is seeking to deflect perceptions that the dollar is behind inflationary pressures.. ..'If the Saudis allow this issue to be externalised then they would have to bow to pressure for devaluation or de-pegging,' says one analyst who asked not to be named. 'But the peg is a political issue and the authorities are not willing to do it when the dollar is at its weakest. It could drive it further down and it wouldn't be well received in the US.'.." [more]

Jeddah Hosting Knowledge-Based Economy Forum [Jan 11]
"More than 700 experts on knowledge-based economy from 60 countries will participate in the first annual conference organized by the Arabian Knowledge Economy Association (AKEA), in association with Al-Aghar Group think tank and the Jeddah Chamber of Commerce and Industry. The two-day forum under the theme 'Towards a Knowledge Economy' will start tomorrow.. ..The conference is the sign of the increasing awareness of the role the knowledge economy could play in the Saudi and Arab economies, he added. The founding of the King Abdullah University of Science and Technology in Rabigh is a major step taken by the Kingdom toward a knowledge-based economy.." [more]

BMG Saudi Index Bounces Back, Turnover Jumps by 59.3 Percent [Jan 11]
"The BMG Saudi Index reversed its performance, ending the week with an upward trend of 9.7 percent, closing on Wednesday at 656.7 points. The total weekly turnover experienced a very strong jump, up by 59.3 percent to register SR28 billion ($7.5 billion) over the week’s trading, versus the previous week’s SR17.6 billion ($4.7 billion). The average P/E ratio for 2006 earnings was 31.7 times, whereas the price to book ratio was 6.53 times. Most of the sectors in the index gained.. ..The best performer was Saudi Kayan Petrochemicals which registered the highest positive percentage change over the week at 11.9 percent with a value of SR10.04 billion traded on 363.5 million shares, to finally close at SR28.25 per share. SABIC was the third best performer among the BMG Saudi Index stocks.." [more]

~~~~~~~~ [ Jan 10] ~~~~~~~~~

Bush Sees Middle East Peace Treaty Within Year [Jan 10]
"US President George W. Bush told Palestinians on Thursday that he believed a peace treaty between Palestinians and Israelis would be signed before he leaves office in 2009. 'I believe.. .. there will be a signed peace treaty by the time I leave office.' Bush said on his first visit to Ramallah, adding, 'I am confident that with proper help the state of Palestine will emerge.' Bush said he is ready to provide political and economic backing but that Palestinian and Israeli leaders must 'come together to make hard choices'.." [more]

Saudi King, Bush to Discuss Case of Arrested Student [Jan 10]
"The case of a Saudi student jailed in the US since 2004 will be among the issues to be discussed between the Saudi King, the Crown Prince and US President George W. Bush during his visit to Saudi Arabia next week. 'The custodian of the two Holy Mosques [King Abdullah] and Crown Prince Sultan Bin Abdul Aziz will discuss a number of issues that concern Saudi Arabia, including the Middle East peace process, bilateral relations and the case of Saudi student Homaidan Al Turki, who is under arrest in the US,' Prince Bander Bin Sultan Bin Abdul Aziz, the secretary general of the Saudi National Security Council, said.." [more]

Saudi FM Urges Restraint by US and Iran [Jan 10]
"Saudi Arabia's foreign minister urged the United States and Iran on Wednesday to show restraint after this weekend's naval confrontation in the Persian Gulf and warned of the grave consequences of such incidents. Prince Saud al-Faisal's remarks at a news conference with Canadian Foreign Minister Maxime Bernier came after the Pentagon reported that several Iranian boats had approached U.S. warships in the gulf Sunday. 'We are in continuous dangers from any escalation and self restraint is imperative from all the players in the region,' Saud told reporters. The confrontation, which ended without any shots fired.. ..Saud said that 'such incidents might have very dangerous consequences for the world economy and oil prices'.." [more]

Saudi Not Set to Sell More for Feb Despite $100 Oil [Jan 10]
"Saudi Arabia is unlikely to offer extra crude for February to Asian buyers, even after oil hit $100 last week, as most refiners have little need and ability to process additional heavy sour crude, refining sources said. The kingdom raised term exports to Asia by a tenth for November to full contracted volumes after it convinced other OPEC members to boost daily output by 500,000 barrels from Nov.1, in response to a jump in prices past $80 a barrel for the first time in September. OPEC's largest exporter has kept supplying at full volumes since November and could offer more in an attempt to cool down prices after U.S. crude surged above $100 and held above $90 as the country has the largest spare output capacity. But refiners said they did not need much more Arab Light, Medium and Heavy grades that Saudi Aramco could offer because they can get higher-quality grades from alternative sources such as West Africa, albeit at higher prices.." [more]

Critics of Saudi Academy Say Textbooks Promote Intolerance [Jan 10]
"Some textbooks used by an Islamic school in Fairfax County contain language intolerant of Jews and other groups as well as passages that could be construed as advocating violence, according to two reviews of the materials.. ..Commission member Nina Shea said the panel is concerned that Saudi Arabia is using its educational system, and connections to schools worldwide, to export intolerant and militant religious teachings. The school's board of directors is headed by the Saudi ambassador, and Shea has called the school an extension of the Saudi Embassy.. ..Parents of academy students said that they do not think their children are learning intolerance and that many religious schools sometimes teach material intolerant of nonbelievers. Constitutional lawyers say there is no legal restraint against teaching intolerance in nongovernmental schools.." [more]

Mass. College of Pharmacy Wins Saudi Grant [Jan 10]
"Massachusetts College of Pharmacy and Health Sciences (MCPHS) has landed $450,000 from a Middle Eastern university, according to the school. MCPHS received the grant from King Saud University in Saudi Arabia to help KSU's College of Pharmacy develop a clinical practice faculty, implement a doctor of pharmacy curriculum, create post-graduate residency and fellowship programs, and conduct research. MCPHS president Charles F. Monahan and KSU rector Abdullah A. Al-Othman signed the agreement this week at a ceremony at the university in Riyadh.." [more]

U.S. Levies Sanctions on Arab Channel [Jan 10]
"The Bush administration Wednesday imposed financial sanctions on a satellite television operation in Syria that has outraged U.S. officials with broadcasts of attacks on Americans troops and calls to violence. The administration also imposed sanctions on the Iraqi businessman who owns the station, along with a top general in Iran's Revolutionary Guard and two men accused of directing terrorist attacks.. ..The station became an irritant to U.S.-Saudi relations because the Saudi-controlled Arabsat satellite operator was carrying its signal, despite entreaties from American officials. Saudi officials believed it represented a point of view that they had to tolerate, U.S. officials said.." [more]

Saudi Detains Activist Ahead of Bush Visit [Jan 10]
"Saudi Arabia has detained another reform activist, a colleague said on Thursday, in the latest of a series of measures against government critics ahead of a visit by U.S. President George W. Bush. Mohammed al-Bijadi was detained by state security police in the northern town of Buraida on Wednesday, Matruk al-Faleh told Reuters. Bijadi was previously held for three months over his role in two protests by women over the indefinite detention of their husbands, Faleh said. Critics say the authorities have exploited their battle with militants to crackdown on democracy campaigners, who face a revolving door of arrest, release and re-arrest.." [more]

Japan’s JGC to Expand in Kingdom [Jan 10]
"Japan’s biggest engineering firm, JGC Corp., has announced plans to accelerate expansion in the Middle East, setting up a unit in Saudi Arabia this spring to oversee petroleum, natural gas and other petrochemical projects in the region. 'Our purpose of establishing this new company is to contribute to further economic growth of the Kingdom and to strengthen the relationship between the Kingdom and Japan,' Masahiro Aika, managing director of JGC Arabia Ltd., Saudi Arabia, said yesterday. He added that JDG would be the world’s first major engineering company to have the capacity to handle all phases of plant construction in Saudi Arabia.. ..'By setting up a local unit, the firm hopes to find more business opportunities, mainly medium-sized projects worth $500 million,'.." [more]

~~~~~~~~ [ Jan 9] ~~~~~~~~~

Bush Launches Key Mid-East Tour [Jan 9]
"US President George W Bush has arrived in Israel on a landmark visit to the region to try to advance peace talks between the Israelis and Palestinians. Mr Bush received a red carpet welcome at Tel Aviv airport, where he was greeted by the entire Israeli cabinet. He said he saw a 'new opportunity for peace here in the holy land' as he began his first visit as president.. ..But his visit was not welcomed by Hamas, the militant group cut off by Israel and the West after winning Palestinian elections. 'Bush has come to the region only to give political, moral and material support to the Israeli occupation and also to widen the internal Palestinian rift,' Sami Abu-Zhuri, a senior Hamas official, told the BBC. 'Bush is not welcome because he is one of the most prominent reasons for the suffering of the Palestinian people'.." [more]

Sarkozy Visit to Boost Ties With Kingdom [Jan 9]
"French President Nicolas Sarkozy’s visit to Riyadh next week is expected to highlight the political, economic, strategic and cultural ties between France and Saudi Arabia. The Kingdom will be the president’s first stop on his Gulf tour, which will also take him to Qatar and the United Arab Emirates. According to French Ambassador Bertrand Besancenot, Sarkozy will arrive on Sunday afternoon and will hold discussions later in the evening with Custodian of the Two Holy Mosques King Abdullah. The king will host a dinner in the French president’s honor.." [more]

Nokia Wins Massive Saudi Deal [Jan 9]
"Nokia Siemens Networks has won an order worth $935 million from Kuwait telecom operator Zain. Reuters is reporting that the mobile phone manufacturer is to build second- and third-generation mobile networks in Saudi Arabia. Nokia Siemens said it would be the sole supplier for the core network, but other vendors could bid to deliver radio network technology. The deal also includes a managed services contract for five years.." [more]

OPEC's Ability to Tame $100 Oil Limited [Jan 9]
"OPEC's ability to tame oil prices that hit a record high above $100 a barrel last week is curbed by limited unused production capacity, officials from the exporter group and analysts say. The Organization of the Petroleum Exporting Countries says it holds around 3 million barrels per day of production in reserve. Since many members have expressed unease with record prices, that begs the question: why are they not raising output?.. ..While OPEC says it could boost output by an additional 3 million bpd -- enough to flood the 86 million bpd world market -- other analysts say that figure is too high.The U.S. government's Energy Information Administration pegged the group's reserve much lower at 1.6 million bpd in its monthly outlook on Tuesday.." [more]

Premarital AIDS and Hepatitis Tests Become Mandatory [Jan 9]
"Engaged Saudi couples who are about to marry will have to undergo extra premarital medical tests beginning this new Hijra year. AIDS and Hepatitis B and C will join the other mandatory medical tests that are already required in order to continue issuing marriage certificates. 'This is a decision that we have been working on and decided to implement starting this Hijra year 1429,' Dr. Ibrahim Al-Omar, director general of Labs and Blood Banks at the Ministry of Health, told Arab News. Premarital medical tests were previously done to test genetic compatibility including blood genetic diseases that are spread in Saudi Arabia, such as thalassemia, due to consanguineous marriages that are common in Saudi society.." [more]

Tunisian, American and Iraqi Scholars Honoured [Jan 9]
"Two US Professors, a German, an Iraqi and a Tunisian have been announced as winners of King Faisal International Prize (KFIP) in medicine, science and Arabic literature respectively.. ..This year's KFIP in medicine was shared by Professor Donald Dean Trunkey, from United States and his countryman Professor Basil Arthur Pruitt, for their outstanding work in the field of trauma management.. ..The award honours work done by international bodies, national NGOs and individuals in separate categories.." [more]

~~~~~~~~ [ Jan 8] ~~~~~~~~~

Leaders Prepare for Key Bush Tour [Jan 8]
"Israeli and Palestinian leaders are meeting in Jerusalem to try to ease problems in the Mid-East peace process ahead of the US president's key tour. Palestinian leader Mahmoud Abbas and Israeli PM Ehud Olmert had vowed at a US summit last year to try to achieve a two-state solution by the end of 2008. But conflict over Israeli settlements and security have soured the process. George W Bush hopes to kick-start it when he arrives on Wednesday for his first visit to the region as president.." [more]

King Asks Govt Agencies to Simplify Procedures [Jan 8]
"Custodian of the Two Holy Mosques King Abdullah yesterday instructed all government departments to implement qualitative changes in their performance and simplify procedures.. ..King Abdullah also told policy planners that the priority of the Kingdom’s financial and economic policies was to achieve economic growth. 'The policies should improve the citizens’ standard of living and increase their purchasing power,' he said.. ..The meeting referred to the link between public spending and salaries as well as that between price hikes in Saudi markets and the world economic situation.." [more]

This Day in History, Ibd Saud Names Country Saudi Arabia [Jan 8]
"On this day in 1926 Abdul Aziz ibn Saud became the king of Hejaz, whose name he changed to Saudi Arabia. He was the country’s first king. Ibn Saud was born into the Saud family who turned to wahabism. The Saud family supported the wahabists since the 18th century.." [more]

Saudi to End Self-Sufficiency in Wheat [Jan 8]
"Saudi Arabia plans to end its self-sufficiency in wheat supplies and import all of its 2.5 million tonnes-per-year of needs within eight years in a bid to save water, government officials said. The government will start this year reducing purchases of wheat from local farmers by 12.5 percent per year, officials from the agriculture and finance ministries said on Tuesday. 'The reason is water resources,' said one official, who did not want to be identified. Local farmers will be banned from exporting wheat until 2016.." [more]

Saudi Telecom Gets $450m Term Loan [Jan 8]
"Saudi Arabia's state-controlled Saudi Telecom Co obtained a $450 million loan from the country's Al Rajhi Banking and Investment Corp to help finance its purchase of a stake in a Malaysian mobile-phone firm. Saudi Telecom had in June agreed to buy 25 per cent of Malaysia's biggest mobile operator Maxis Communications and 51 per cent of its Indonesian unit for $3 billion, from Binariang GSM Sdn Bhd, Maxis' biggest shareholder. Saudi Telecom will use the 10-year ringgit-denominated term loan to subscribe to half of a $900-million Islamic bond issued by Binariang.." [more]

West Finds Ways Into Saudi Growth Story [Jan 8]
"As foreign interest in the Saudi stock market reaches unprecedented levels, international investment houses are looking to develop products designed to provide western institutional investors with new means of gaining access to the booming Gulf’s largest bourse. The kingdom’s financial services sector has gone through a dramatic transformation in the past couple of years as it has been liberalised and opened up to foreign institutions. But direct investment in the Tadawul All-share index is restricted to Saudi residents and citizens of the other five Gulf Co-operation Council (GCC) states. Recently, however, licensed investment houses have begun testing products that will go some way to meeting demand from western investors.." [more]

~~~~~~~~ [ Jan 7] ~~~~~~~~~

Abbas Rejects Saudi Initiative for Reconciliation With Hamas [Jan 7]
"Palestinian Authority Chairman Mahmoud ‘Abbas has rejected a Saudi initiative for talks with the rival Hamas faction, a source in Ramallah revealed on condition of anonymity. Drawn up in coordination with Hamas, the six-point initiative was presented to ‘Abbas by the Saudi monarch, ‘Abdallah Bin ‘Abd Al-‘Aziz, during their talks in Riyadh on Sunday. According to the source, the Damascus-based Hamas leader, Khalid Mash’al, was involved in drafting the initiative when he visited the kingdom early last month. The initiative, which seeks to restore unity between Gaza and the West Bank, calls for rebuilding the security forces, sacking the Faya’d government, forming a new Hamas-led unity cabinet, implementing the Saudi-sponsored Mecca deal, ending media incitement, and honoring the outcome of the 2006 elections. Almost a year ago, the Saudi king mediated a deal between Hamas and Fatah that led to a short-lived unity government that was later fired by ’Abbas after the Islamic group’s takeover of Gaza last June.." [more]

Saudi Crown Prince Hopes Bickering Politicians Would Be Wise [Jan 7]
"Saudi Crown Prince Sultan Bin Abdulaziz has expressed hope that bickering Lebanese politicians would have enough "wisdom" to solve their country's lingering crisis.. ..'We hope for wisdom, understanding and success in appointing a head of state' for Lebanon, he said. His remarks came as Arab foreign ministers meeting in Cairo agreed on a three-point plan, namely the election of a head of state, forming a government of national unity and the adoption of a new electoral law to solve Lebanon's crisis which worsened after President Emile Lahoud's term expired in November with bickering camps unable to choose a successor.." [more]

U.S. Well-Served by Saudis [Jan 7]
"Of the six Arab nations President Bush is visiting this week, four are monarchies.. ..if the U.S. is to have any Arab friends at all, we cannot spurn the support of monarchies. By far the most powerful royal family is the al-Saud, the rulers of Saudi Arabia.. ..The alternative to Saudi Arabia's royal family today is not some Arabic-speaking version of the Swedish parliament, but a Sunni version of Iran's Shi'ite theocracy. America's 60-year friendship with the Saudi government needs to be nurtured, not censured. Without Saudi Arabia as an ally, the world's oil supplies would be less secure, and peace between Israel and Palestine is improbable.." [more]

Market Determines Oil Prices: Naimi [Jan 7]
"Minister of Petroleum and Mineral Resources Ali Al-Naimi said yesterday that the rise in oil prices to a record high had been determined by market forces. 'The market fixes the price of oil,' Naimi told reporters at an energy conference in Riyadh when asked to comment on oil’s surge to a record above $100 last week. Naimi declined further comment on the price or what the Organization of the Petroleum Exporting Countries would decide at its next meeting on Feb. 1 in Vienna. US crude hit a record of $100.09 a barrel on Thursday. High energy costs have caused concern among some members of OPEC about the potential impact on the global economy. But ministers say there is little they can do to tame the price, which is driven by political tension and speculators and not supply and demand fundamentals.." [more]

Saudi Arabia: Internet Users Spent Over US$ 3.28 Billion in B2C E-Commerce During 2007 [Jan 7]
"Saudi Arabia's Internet users spent over US$ 3.28 billion in B2C e-commerce during 2007. A new Arab Advisors Group major survey of Internet users in Saudi Arabia reveals substantial adoption of e-commerce in the affluent and booming economy. 48.36% of Internet users in Saudi Arabia reported purchasing products and services online and through their mobile handsets over the past 12 months. Based on the survey findings, the Arab Advisors Group estimates e-commerce users in Saudi Arabia to exceed 3.5 million consumers representing 14.26% of the population.." [more]

Saudi Arabia to Offer $25 mln Loan to Assist Education in NW China [Jan 7]
"Saudi Arabia on Monday agreed to provide a loan of 25 million U.S. dollars to assist an education project in Tianshui City, northwest China's Gansu province. The loan was offered by the Saudi Fund for Development (SFD), a fund chaired by Saudi Arabia's Minister of Finance. A loan contract was signed in Beijing on Monday between the Chinese Vice Minister of Finance Li Yong and the Director-General of the SFD Yousef I. Al-Bassam. According to the contract, the SFD will offer the loan at an annual interest rate of 3 percent with a term of 20 years, including a five-year grace period. The fund will be used to build classrooms, laboratories, libraries, gymnasiums and student apartments for three schools in Tianshui.." [more]

Power Grid to Link Four GCC States [Jan 7]
"Four GCC countries — Saudi Arabia, Qatar, Bahrain and Kuwait — will be linked in a power grid this year in the first phase of a major project aimed at connecting the six-member GCC states in an electricity network.. ..Upon completion of Phase I and the reduction of generation capacity, the total cost savings rate of return after four years of operations would be $2.5 billion. The total cost saving rate of return after three years of operations is projected at $3.35 billion. The GCC countries gave the go-ahead for the power grid project in late 2004 after the project was declared technically feasible.." [more]

~~~~~~~~ [ Jan 6] ~~~~~~~~~

Bush Lauds Abdullah’s Push for Peace, Reforms [Jan 6]
"US President George W. Bush, who is visiting the Kingdom next week, has expressed his personal appreciation and admiration for the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz, for his role in supporting the Middle East peace process. 'I personally appreciate the Custodian of the Two Holy Mosques because he is a person whom, whenever he speaks, everyone listens,' Bush said in a statement during a meeting at the White House with an Arab press delegation.. ..'King Abdullah is head of a state having a distinguished geographical location in the world. In addition, he is executing 
praise-worthy reforms.' 'The Kingdom of Saudi Arabia has been playing a laudable role in serving the holy sites.' Bush also praised Saudi Arabia's participation in the Annapolis conference.." [more]

Faisal Prize for Abdullah [Jan 6]
"King Abdullah has been named winner of this year’s King Faisal International Prize for Service to Islam, Crown Prince Sultan announced yesterday following a meeting of the prize’s jury, chaired by him. So far 35 Saudi and international personalities and organizations have won the King Faisal Prize for Service to Islam. Saudi Arabia topped the list with 10 winners. followed by Egypt (four), Kuwait, the UAE, Pakistan and Malaysia (two each). Other winners were from Sudan, Lebanon, India, Senegal, Nigeria, Niger, South Africa, Indonesia, Bosnia, France and the former Republic of Tataristan (one each).." [more]

Foreign Affairs Minister to Visit Saudi Arabia [Jan 6]
"Foreign Affairs Minister Maxime Bernier will leave this Wednesday for his first visit to the Middle East. Bernier will visit the West Bank and Israel, but his trip will also take him to Saudi Arabia and India. In a release, Bernier says he is taking a clear message to the Middle East that Canada supports efforts that will 'lead to a peaceful and comprehensive resolution to the Palestinian-Israeli conflict.' Bernier says that includes the creation of a Palestinian state that exists in peace and security with Israel.." [more]

Motorola Wins $150 Million Contract from Saudi's Number-Two Mobile Operator [Jan 6]
"Etihad Etisalat Co., Saudi Arabia's second mobile operator, has awarded a $150-million contract to Motorola Inc. to help the company expand its GSM network in the kingdom. "The network expansion that was put in place for the northwest and southwest regions last year has already helped Etihad Etisalat to increase its subscriber base capacity," the operator's chief executive Khalid Al Kaf said in a statement. Etihad Etisalat, known as Mobily, competes with Saudi Telecom in the kingdom's mobile sector.." [more]

Family Member Given Access to Detained Blogger [Jan 6]
"Authorities yesterday allowed a family member to meet detained Saudi blogger Fouad Al-Farhan in prison, Arab News has learned. Al-Farhan’s father-in-law met him for one hour inside at Jeddah’s Dahban Prison where the Saudi blogger has been held for the past 27 days. 'His spirits are high,” said one of his blogger friends. “He hasn’t been told of the charges (against him). He said he’s interrogated for 15 minutes every day.' Until yesterday, Al-Farhan’s family had been denied access to the 32-year-old Jeddah-based owner of a small IT business who runs a web journal that discusses Saudi social and political issues.." [more]

Blue-Chip Firms Push Saudi Stocks Up [Jan 6]
"Expectations of strong fourth-quarter results will continue to drive up UAE bourses, market experts said, even as the Saudi Arabian index closed 4.8 per cent higher Saturday. This was the Tadawul All-Share Index’s strongest rise since December 11, according to Reuters data, and it was driven by gains in all blue-chips that are expected to post high earnings for the fourth quarter of 2007. The index closed at 11,416.49 points on the back of a SR15.75 billion (Dh15.7bn) turnover, the highest since December 12. Saudi Basic Industries Corporation closed 4.5 per cent higher and Al Rajhi Bank rose by the maximum 10 per cent.." [more]

Bloggers Protest with Silence Today [Jan 6]
"Bloggers in the Kingdom and around the world will be spending most of Sunday in silence to protest against the arrested Saudi blogger Fouad Al-Farhan. On Sunday bloggers will not write on their blogs, instead they will post a banner demanding release of Al-Farhan. 'The idea to have a day of silence on the global level was made by Esra Shafie, a Bahraini blogger based in Europe,' said Ahmed Al-Omran, a blogger known as Saudi Jeans and a good friend of Farhan. 'We are trying to spread the word to as many people as we can,' said Omran. Omran has also begun an online petition to free Farhan which has more than 424 people sending an email letter to Foreign Minister Prince Saud Al-Faisal, Adel Al-Jubair, Saudi Ambassador to the US , Nicholas Burns, US Undersecretary of State for Political Affairs, and Ford Fraker, US Ambassador to Saudi Arabia.." [more]

Dec 30, 2007 -Jan 5, 2008

~~~~~~~~ [ Jan 5] ~~~~~~~~~

Bush to Discuss Mideast Security Plan With Allies to Counter Iran [Jan 5]
"U.S. President George W. Bush will work with Mideast allies to develop a security plan to counter Iran during his upcoming visit to the region, according to an interview with leading Arab newspapers published Saturday. Bush did not provide details about the plan, but Arab diplomats told The Associated Press that they expect the U.S. president to offer closer military cooperation with moderate allies in the Persian Gulf, Egypt and Jordan. The plan is aimed at deterring Iran from threatening security in the region after a potential troop reduction in Iraq.. ..Bush said Iran remained a threat because it continued to develop missiles that could deliver nuclear weapons and had resisted international demands to suspend uranium enrichment, a process that can produce fuel for a reactor or fissile material for a bomb.." [more]

Bush Tells Israel to Dismantle Outposts [Jan 5]
"US President George W. Bush yesterday called on Israel to dismantle rogue settlements on occupied Palestinian land. In the Gaza Strip, two Hamas fighters were killed in a shootout with Israeli troops. Ahead of his visit to the region next week, Bush said in an interview with Israel’s Yediot Ahronot daily that the Israeli government had promised Washington to get rid of unauthorized settlements in the occupied West Bank. 'We expect them to honor their commitments,' the president said.. ..Rogue outposts are Israeli settlements established in the West Bank without government permission. The international community considers all Israeli settlements on occupied Palestinian land as illegal. The issue of Israeli settlements is one of the most divisive issues of the Middle East conflict and has been the leading source of discord since the two sides revived peace talks after a nearly seven-year hiatus in late November.." [more]

Saudi Arabia to Include Human Rights in National Curriculum [Jan 5]
"Saudi Arabia took its first step today towards including 'human rights' curriculum within its education curricula after The National Society for Human Rights (NSHR) invited representatives from 16 high educational institutions to discuss the subject in a workshop. The one-day workshop will emphasize on four proposals on how to incorporate the teaching of human rights at schools and colleges. .. ..During the past years, the organization was busy preparing its infrastructure, such as a specialized library in Riyadh and a comprehensive data center. 'This infrastructure is essential to create a beneficial 
atmosphere for teaching human rights,'.." [more]

Prince Saud Alfaisal Arrives in Cairo [Jan 5]
"Prince Saud Alfaisal, the Foreign Minister, arrived in Cairo today to lead the Saudi delegation to the meeting of the extraordinary session of the Arab League Council at the level of Arab foreign ministers. The meeting was called for by Saudi Arabia and Egypt and will begin here on Sunday.." [more]

Rights Group Urges Saudi Arabia to Free Blogger [Jan 5]
"A US-based rights group has urged Saudi Arabia to release a blogger detained for his writings. Blogger Fouad Al Farhan was arrested for writing articles about political prisoners in the kingdom. He is being held over security-related issues.. ..'Arbitrarily detaining a writer and holding him for weeks without saying why violates the most basic norms for free expression,' the group said.." [more]

Yemen Seeks to Establish Two Free Economic Zones with KSA [Jun 5]
"Yemen seeks to establish two free economic zones with Saudi Arabia, the official news agency Saba said quoting a report from state-run 26sep.net. The Director General of the Industrial Zones Department in the Industry and Trade Ministry Saleh Al-Sanabani said said that Yemen and Saudi Arabia are discussing setting up two free economic zones in the border areas between the two countries, one of them in Al-Wadia'h area of Hadramout province and the other in Al-Tawal area. Economic free zones are key facilitators of foreign direct investment.." [more]

Saudi Food Prices Seen Up 30% in '08 [Jan 5]
"Prices of food products in Saudi Arabia may rise by up to 30 percent in 2008 due mainly to a drop in global supplies and the weakness in the U.S. dollar, local newspapers quoted on Saturday a Trade and Industry Ministry report as saying. The ministry has urged Saudi importers and wholesalers to pile up 'enough stocks' of food products.. .. Inflation in Saudi Arabia surged last year, hitting 5.35 percent in December, its highest level since at least 2005. Food products make up the largest component in the weighting of the cost of living index.." [more]

Study Finds Safety Poor on KSA Sites [Jan 5]
"A new report has claimed a lack of safety standards in Saudi Arabia's construction industry. Husain Al Omani, a project manager for Ali A Tamani Company, has released his study, ‘Improving Safety Performance at Construction Sites in Saudi Arabia'. Al Omani is a safety expert whose job is to visit construction sites to check that workers are being looked after on site.. ..Among his findings were that some 25% of contractors did not give new workers orientation; 25% did not provide personal protective equipment; 25% did not provide first aid kits on site; and 38% had no trained safety personnel. His survey also compared accident figures in the UK with those in Saudi Arabia. In the UK in 2005, there were 3,760 injuries to workers and 28 deaths. In the same year in Saudi there were 102,259 injuries and 493 deaths. Al Omani said there were laws in Saudi Arabia to protect workers but some contractors, mainly the smaller ones, were flouting them.." [more]

Petro Rabigh IPO Opens Today
"Petro Rabigh, a joint venture between Saudi Aramco and Sumitomo Chemical of Japan, stated yesterday that its eagerly awaited SR4.599 billion initial public offering (IPO) would open for subscription today. This landmark IPO, which is open to Saudi individuals and institutional investors, will close on Jan. 12. The offering consists of 219 million shares, representing 25 percent of the company’s share capital after the IPO. Based on the institutional book-building process, the share price has been determined at SR21, representing SR10 par value and SR11 premium. The minimum subscription is 10 shares and the maximum is 1 million shares.." [more]

~~~~~~~~ [ Jan 4] ~~~~~~~~~

Bush to Visit Saudi Arabia in Mid-January [Jan 4]
"A Saudi official confirmed on Wednesday that US President George W. Bush is expected for his first visit to the kingdom in mid-January, and hoped he would pressure Israel to halt colonies in Palestinian territories. The Saudi diplomat said Bush will visit the kingdom on January 14 as part of his Middle East tour and that the king will urge the American president to push Israel to allow the establishment of a Palestinian state.. ..Saudi King Abdullah Bin Abdul Aziz will also ask Bush to pressure Israel for "the establishment of the Palestinian state along side the state of Israel," the diplomat said. Bush's nine-day trip to the Mideast starts on January 8.." [more]

Saudi Arabia’s Promised Reforms [Jan 4]
..Defenders of the existing Saudi system argue that change in this traditional society must come slowly. Many Saudis are clearly eager for more and faster change. A Gallup poll conducted last year showed that a majority want more freedoms for women. King Abdullah has demonstrated a laudable desire for reform. He must understand that cruelty, sex discrimination and censorship cannot be part of a modern legal system or a country that wants to participate in the modern world. When President Bush visits Saudi Arabia this month, he should remind the king of that.." [more]

Saudi Exports Reach Record High in 2007 [Jan 4]
"Saudi Arabia’s Central Department of Statistics has announced that the Kingdom’s total exports of goods and services in 2007 have reached $240.2 billion (SR900.8 billion), an increase of 6.7 percent over the previous year’s figure. Non-oil exports of goods have grown by an impressive 24.9 percent to $28.5 billion (SR106.8 billion). Further, preliminary statistics issued by the Saudi Arabian Monetary Agency (SAMA) estimate the Kingdom’s trade balance in 2007 has reached a record surplus of $148.2 billion (SR555.6 billion). ." [more]

Saudi Aramco Delays Production Start From Khursaniyah [Jan 4]
"Saudi Aramco, the world's largest state- owned oil company, delayed the start of production from its 500,000 barrel-a-day Khursaniyah oil-field project and said it will meet market demand with existing spare capacity. 'Saudi Aramco stands ready to meet market demands with ample spare capacity, including 1 million barrels of Arab Light crude,' the company said in an e-mailed statement today. Khursaniyah will commence 'upon completion of commissioning activities,' Saudi Aramco said. The company didn't say when production would start, after it missed a December deadline. The project, which will produce and process 500,000 barrels a day of Arabian Light crude and 300 million square cubic feet a day of natural gas, is part of Saudi Arabia plans to increase its output capacity to 12.5 million barrels a day by 2009 to help meet demand for oil.." [more]

Opec Under Pressure to Act in Face of $100 Oil [Jan 4]
"The oil producing group, Opec will face enormous pressure to help calm the febrile crude market at its next meeting in February after prices struck the symbolic $100 level, analysts said yesterday. It (the $100 record) will be a psychological trigger for consumer countries,” said global head of commodities at investment bank Societe Generale Frederic Lasserre. 'We will see governments putting pressure on Opec, saying ‘we need you to do something for us’. In the end though, they (governments) probably share the view that adding a few barrels will not change the market.' The 13-member Organisation of Petroleum Exporting Countries shrugged off demands at its last meeting in December, despite a public plea from US Energy Secretary Samuel Bodman for an output increase.." [more]

Kingdom Inflation to Lessen in Second Half [Jan 4]
"Inflation rate in Saudi Arabia is expected to ease in the second half of this year, Kingdom-based economists forecast. Inflation in the Kingdom more than doubled from 2.2 percent in 2006 to a year-end rate of 4.4 percent in 2007 and even reached 6 percent in some cities last year. 'I expect inflation toward the end of 2008 to subside with the first half of 2008 experiencing rates above 5 percent. But inflation should decrease on a year-on-year basis to no more than 4 percent and therefore leading to a decline in prices,' Dr. John Sfakianakis, chief economist of Saudi British Bank (SABB), told Arab News..' [more]

GCC, EU Expected to Sign FTA Soon [Jan 4]
"The Gulf Cooperation Council (GCC) is expected to sign a free trade agreement (FTA) with the European Union (EU) in a few weeks, a senior Italian visiting official said here yesterday. Ugo Intini, deputy foreign minister of Italy, said though he was not sure about the exact date of signing of the FTA, he was convinced that the agreement would be in place in a month time. At the end of his five-day official visit to Bahrain, he said in a press conference that he met with the EU top official supervising the EU-GCC FTA process and assured that things were on the right track. Being a strong supporter of this treaty, he said, Italy has been pushing hard over the years to sign the FTA first and give final touches later.." [more]

~~~~~~~~ [ Jan 3] ~~~~~~~~~

Abbas to Saudi Ahead of Bush Trip [Jan 3]
"Palestinian president Mahmud Abbas will visit Saudi Arabia on Saturday for talks on the situation in the Palestinian territories ahead of US President George W. Bush's trip to the region, the Palestinian ambassador in Riyadh said on Thursday. Abbas will also brief King Abdullah and other Saudi officials on the status of talks with Israel, 'which have not yielded results because of Israel's ongoing settlement policy and procrastination,' Jamal al-Shobaki told AFP. He said the discussions will cover Bush's trip to the Middle East next week, when the US president will visit Israel and the Palestinian territories in a bid to give a push to peace talks which were relaunched at an international conference in Annapolis in November. Bush's tour will include a stop in Saudi Arabia.." [more]

Abdullah, Hamad Discuss Crucial Issues [Jan 3]
"Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with King Hamad of Bahrain on major regional and international developments, most importantly on the situations in Palestine, Iraq and Lebanon, the Saudi Press Agency said.'The two leaders also reviewed joint work within the framework of the Gulf Cooperation Council and major GCC achievements, including the Gulf Common Market, which became a reality on Jan. 1, 2008,' SPA said. King Abdullah and King Hamad also explored prospects of expanding cooperation between the two GCC neighbors.." [more]

Riyadh Seeks Freedom for Guantanamo Inmates [Jan 3]
"Saudi Arabia will continue its efforts to bring home the 13 remaining Saudis still at the US detention camp in Guantanamo, the Saudi Interior minister said.. ..Earlier this week, ten Saudis returned home from the US detention camp. Prince Naif Bin Abdul Aziz, the Saudi interior minister was quoted this week as saying that his country will continue its efforts to bring home the remaining Saudis in the camp. Meanwhile, the Saudi interior ministry is expected to start investigations into 56 other Saudis already freed from Guantanamo. The 56 represent the last four groups to have been handed over to the Kingdom.." [more]

Jafza Int’l Signs MoU on Development of Dh29.5bn Rakisa Economic City [Jan 3]
"Jafza International, the global free zone operations arm of Economic Zones World today signed an MoU with Saudi Arabia’s Rakisa Holding for the development and management of Rakisa Economic City in Hail, Saudi Arabia. The Rakisa Economic City, a SR 30 billion (about AED 29.5 billion) project, spread over 15,600 hectares, is envisaged to be the second largest economic zone in the Kingdom of Saudi Arabia, incorporating an international airport, dry port, railway station, agricultural industries and services, an entertainment area, mining centre, business centre, Knowledge Area, and residential complexes.." [more]

Saudi Arabia Picks EADS for Three Air Tankers [Jan 3]
"Saudi Arabia has awarded a contract to buy three refuelling tanker planes to EADS (EAD.PA: Quote, Profile, Research), the European aerospace group said on Thursday. The Multi-Role Tanker Transport (MRTT) aircraft are adapted from A330 passsenger jets built by EADS subsidiary Airbus. There was embarrassment last year when France prematurely announced a deal to sell two of the same planes to Saudi Arabia, then retracted the statement saying talks were continuing.." [more]

KSA's 2nd Global Competitiveness Forum Draws Support [Jan 3]
"Leading Saudi and international organizations have signed up to support the 2nd Global Competitiveness Forum (GCF 2008), one of the most prestigious and high profile business events organized by the Saudi Arabian General Investment Authority (SAGIA). Following the success of the first forum held in Riyadh in 2006, many companies have shown their commitment to support GCF 2008, which will be held in Riyadh under the auspices of Custodian of the Two Holy Mosques King Abdullah on Jan. 20-22. Under the theme "Competitiveness as an Engine for Economic Growth", GCF 2008 is devoted to address some of the primary international issues with a special focus on improving investment opportunities in the wake of recent world events.." [more]

SEC to Invite Tenders For $2bn Power Plant in Q1 [Jan 3]
"Saudi Electricity Co, the country’s largest power producer, will invite companies in the first quarter to bid for the contract to build and run a 1,200MW power plant to help meet rising demand, the company’s financial consultant said yesterday. SEC will ask companies to submit initial bids for the estimated $2bn independent power project, or IPP, in February, which will be followed by the release of final tender documents later in the quarter, according to the financial adviser, Citigroup. 'The full tender timetable has not as yet been finalised'.." [more]

Oil Hits Record $100 a Barrel [Jan 3]
"Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles in consumer countries, and a weak dollar triggered a flood of speculative buying, dealers said. Oil's climb to the psychological triple-digit price sent Wall Street tumbling and darkened an already gloomy economic outlook in the United States, battered by a housing crisis.'Oil hitting $100 a barrel has sparked some concerns about the consumer and inflation,'.. ..Crude oil prices jumped 58 percent in 2007, the biggest annual gain this decade, driven by rising demand in China and other developing countries, tight stockpile levels and increased economic turmoil.." [more]

SABIC, Riyad Bank Lift Saudi Index [Jan 3]
"Saudi Basic Industries Corp. and Riyad Bank lifted Saudi Arabia’s main index to close higher a day after it posted its sharpest single-day decline since June 16. SABIC gained 2.22 percent. Riyad Bank rose 3.83 percent. The Tadawul All-Share Index (TASI) climbed 0.46 percent to 10,892.64 points. It has risen almost 41 percent last year.." [more]

~~~~~~~~ [ Jan 2] ~~~~~~~~~

Campaign For Release of Saudi Blogger [Jan 2]
"Saudi officials revealed on Tuesday that they had detained leading blogger Fouad al-Farhan.. ..He has now become the first Saudi blogger to be arrested. The Saudi authorities have not disclosed why he is being held, other than to say that he is being questioned for 'violating non-security regulations'.. ..it looks as if his detention results from his open support for a group of reformists who were arrested last year and are being held without charge or trial. The authorities have linked them to terrorism, but their supporters are convinced they are being punished for their political activity.." [more]

Saudi Women in Push for 2008 Driving Breakthrough [Jan 2]
"Saudi women activists Wednesday began a fresh effort to get a ban on women drivers lifted in 2008, handing in a new petition to King Abdullah urging him to quash the restriction. Signatories of the petition 'hope that 2008 will be the year in which Saudi women obtain their natural right to drive a car,' according to the document. Campaigner Fawzia al-Oyouni told AFP the petition is part of a continuing effort to quash the ban in the oil-rich but ultraconservative kingdom, where women are forced to cover from head to toe in public. The petition follows a similar one sent to the king last September signed by more than 1,100 Saudis. 'We hope to send a new petition each time we manage to get 1000 new signatures,'.." [more]

Barbados and Kingdom of Saudi Arabia Establish Formal Diplomatic Relations [Jan 2]
"Barbados and the Kingdom of Saudi Arabia marked a major milestone in the development of their relations and foreign policy with the signing of a Joint Communiqué establishing formal diplomatic relations between the two countries.. ..Ambassador Hackett said that the establishment of diplomatic relations between Saudi Arabia and Barbados opened up great prospects for deeper cooperation between the two countries at both the bilateral and multilateral levels. He added that Barbados foresees active collaboration with Saudi Arabia in areas such as sustainable tourism development, tourism training and education, and environmental sustainability, including gas and solar energy.." [more]

Al-Qadi Asks US to Remove Him From Blacklist [Jan 2]
" Saudi businessman Yassin Abdullah Al-Qadi yesterday reiterated that he had never supported any terrorist organization and urged the United States to remove his name from its blacklist of people financing terrorism. 'I request the US government, in view of its strong ties with Saudi Arabia, to remove my name from the list of persons whose accounts are frozen,' said Al-Qadi in a statement issued yesterday. The statement came after a Geneva court exonerated Al-Qadi of all charges against him. The US and the United Nations froze Al-Qadi’s assets in the wake of Sept. 11 attacks after the FBI distributed a list of 39 individuals and groups suspected of financing terrorist organizations.." [more]

Dutch Business Group Set to Visit Kingdom [Jan 2]
"A 31-member business group representing 24 major companies in the upstream oil and gas industry in the Netherlands will visit the Kingdom on Jan. 25-29 to explore investment opportunities. The delegation is led by IRO (Association of Dutch Suppliers in the Oil Gas Industry) which represents some 300 companies in the oil and gas supply industry such as engineering, field development, pipeline installation, maintenance and material and equipment supply/manufacturing, onshore as well as offshore projects. Jurgen Bertelink, first secretary, economic and cultural affairs, in the Royal Netherlands Embassy said some of the participating companies will be visiting the market for the first time and have a range of objectives, including market research to identify suitable representatives for their products and services. The Saudi Arabian General Investment Authority (SAGIA) said in its latest report that the Netherlands has 35 enterprises in the Kingdom ranging from industrial to services, aside from other 20 Dutch companies that have investment here.." [more]

~~~~~~~~ [ Jan 1] ~~~~~~~~~

Challenges Ahead for GCC Common Market [Jan 1]
"The Gulf Cooperation Council (GCC) common market, which was launched on Tuesday, faces a number of challenges, according to economists. The monetary policies in the GCC states, mounting inflation rates and laws and regulations related to investment will be among the main challenges for the common market. Strategies should be worked out to surmount these hurdles, they said. Saudi economic experts, however, expressed confidence that the six GCC countries will work through their respective agencies and in collaboration with the GCC General Secretariat to remove these obstacles.." [more]

GCC Common Market Becomes a Reality [Jan 1]
"The six-member Gulf Cooperation Council (GCC) with a combined economy of $715 billion makes history today with the launch of a common market, which is expected to draw more foreign investment to the region. GCC Secretary-General Abdul Rahman Al-Attiyah described the launch of the Gulf Common Market on Jan. 1 as “historic”, adding that it would ensure 'economic equality' among GCC citizens. The GCC, which was formed in 1981, groups Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates. The decision to launch the common market was taken by the group’s leaders at their last summit, which was held in Doha on Dec. 3 and 4. They also announced plans to achieve a currency union by 2010.." [more]

Saudi's GACA Launches Initial Phase of KAIA Development Project [Jan 1]
"The President of Saudi Arabia's General Authority of Civil Aviation (GACA) announced that the initial phase of the new King Abdul Aziz International Airport (KAIA) Development Project was launched by the authority, Khaleej Times reported. He also added that the initial phase of the development will be implemented over five years and is led by GACA in cooperation with Dar Al-Handasah. The project is being developed from the Airport Master Plan, which will be implemented over the next 28 years, representing investment of several billions of riyals and opportunities for the private sector across all areas of consultancy, construction, operation and management.." [more]

~~~~~~~~ [ Dec 31] ~~~~~~~~~

Fear Grows for Canadian Facing Execution [Dec 31]
"Concern is growing over the fate of Mohamed Kohail, the 22-year-old Canadian facing a possible death sentence in Saudi Arabia over allegations he was involved in the killing of a young man in a schoolyard brawl a year ago. Particularly alarming are reports that Mr. Kohail's trial has been under way for at least three months while the court has systematically barred Mr. Kohail's legal counsel, his father and representatives of the Canadian embassy from attending. 'There seems to be a lack of clarity and transparency in the case,'.. ..'One of the basic principles of a fair trial is that it should be open and 
public,' said Alex Neve, secretary-general of Amnesty International Canada. 'And trials in Saudi Arabia are rarely fair.'.. ..A spokesman for the Foreign Affairs Department would not confirm reports that Canadian consular officials have been excluded from the trial. He said only that embassy officials continue to monitor the case closely and are in touch with the family of the accused.." [more]

Sarkozy to Visit [Dec 31]
"French President Nicholas Sarkozy is scheduled to make an official visit to Saudi Arabia in mid-January in response to an invitation from King Abdullah, the Custodian of the Two Holy Mosques, made during his recent visit to Paris. US President George W. Bush is also scheduled to pay a visit to Saudi Arabia as part of his tour of the region next week.." [more]

Imam Sends Death Threats to Official [Dec 31]
"The Kingdom’s Cassation Court (appeals court) will hear the case of a Saudi imam who was jailed by a court in Hail. The imam allegedly threatened to kill the head of the branch of the Ministry of Islamic Affairs in Hail. The head had suspended the imam from his duties for using anti-Western slogans in his sermons.. ..The Cassation Court will either uphold the Hail court’s ruling or ask for a retrial.. ..Prince Naif held a meeting with imams and khateebs from all over the country and sought their support in fighting the ideology that had been used to recruit Saudi youth to Al-Qaeda. Asked if he felt there had been any progress since that meeting, the minister said: 'No, not at the level I would have hoped for.'.." [more]

Saudi Economic Growth Expected to Continue [Dec 31]
"Saudi economists are optimistic about the kingdom's economic growth being robust in 2008. According to government figures, the economy grew 4.3 per cent in 2006. The economist predicted that most consumer products will see price rises between 10 to 15 per cent in the coming year. Real estate prices are likely to see a 20 to 25 per cent increase in 2008. In the second half of 2007, the rents of leased properties jumped by 35 to 40 per cent, according to unofficial reports. 'Rising oil prices, availability of liquidity and the government's social and economic reforms are positive indicators of the Saudi economic growth,'.." [more]

Saudi Stocks Fall by 1.83 Percent [Dec 31]
"As the year 2007 is drawing to a close, the Saudi stock market fell 1.83 percent yesterday but is still higher by 41.77 percent so far this year after falling over 52 percent in 2006. The Tadawul All-Share Index (TASI) was down 210.03 points at 11,246.85 yesterday after rising slightly on Saturday. On recent TASI’s surge, technical analyst Bassam Al-Obaid said this is the third time the index was trying to cross the 11,700 barrier, adding that last year it had failed to cross it twice in August and September. 'If the market crosses this barrier before the beginning of 2008, the next target will be 13,500,' he said. Obaid expressed his optimism about the market. 'All indicators support the market’s upward trend,'.." [more]

Women to Get ID Cards Soon [Dec 31]
"The new national identity card for Saudi females will be issued soon, said the Assistant Deputy Minister of Interior for Civil Status Affairs Nasser Al-Hanaya. The new IDs are fitted with smart chips and serve as passports for their holders to travel to a number of Gulf countries. Al-Hanaya said his department will be training female staff to issue the new IDs.." [more]

~~~~~~~~ [ Dec 30] ~~~~~~~~~

League FMs to Meet on Settlements [Dec 30]
"Arab foreign ministers will hold an emergency meeting soon to discuss Israeli-Palestinian peace negotiations and Israeli settlement policy, Arab League Secretary General Amr Moussa said yesterday. 'The international momentum does not seem to be affecting the Israeli position and maybe will not, so we will meet to decide what is to be done,' Moussa told a news conference. 'It is now clear that the settlements issue will destroy any hope of peace and will break the course of Annapolis.' Israeli officials have said Israel would allow construction within built up areas of existing Jewish settlements in the occupied West Bank, but would not expand beyond those areas — a position that could widen the rift in US-backed peace talks launched in Annapolis.." [more]

Terror Suspects Set to go on Trial [Dec 30]
"Shariah court trials are set to begin for terrorist suspects detained for a string of bombings in the Saudi capital in 2003 and 2004. A Ministry of Justice source said nothing prevents the suspects from hiring defense lawyers. Included among the detainees to be tried are 72 suspected members of the terrorist cell led by Abdul Aziz Al-Muqrin who masterminded the kidnapping and beheading of American engineer Paul Johnson in June 2004. Al-Muqrin, who became leader of Al-Qaeda in the Arabian Peninsula in March 2004 - succeeding Khaled Al-Haj - was killed by security forces shortly afterwards, along with three other terrorists.. ..The trials would not be held within the buildings of the general court, the source said, adding that the Ministry of Justice will determine the trial locations. He said the presiding judges would decide whether the trials would be public.." [more]

Gulf Dollar Peg Likelier to Stay After Bin Laden Remarks [Dec 30]
"Gulf Arab oil producers may be less likely to drop their currency pegs to the weak U.S. dollar after Al Qaeda leader Osama bin Laden criticised dollar pegs as "unjust and arbitrary", economists said on Sunday. The Saudi-born militant leader urged Muslims in a video recording on Saturday to support militants so they can 'preserve your oil and wealth and protect your money that is slipping between your fingers due to the unjust and arbitrary dollar pegs.'.. ..'Comments like this will make their commitment to the peg even stronger and it will be even harder for them to move away from the dollar,' said Marios Maratheftis, regional head of research at Standard Chartered Bank. 'They don't want this to become more of a political topic than it already is.'.." [more]

Kingdom OKs $533m Home Finance Firm [Dec 30]
" Saudi Arabia has approved the launch of Saudi Home Loans Co. (SHLC) to tap into a market where four out of five Saudis do not own a home, state news agency SPA said yesterday. The Trade and Industry Ministry approved the launch of SHLC which will provide loans compliant with Islamic law, SPA said. The firm will have a capital of 2 billion riyals ($533 million). Each of Arab National Bank and private housing finance firm Kingdom Installment Co. hold 40 percent in SHLC, according to Arab National Bank. Property developer Dar Al-Arkan holds a 15 percent stake in SHLC and the International Finance Corporation (IFC) has the remaining 5 percent. Only 22 percent of Saudis own their houses.." [more]

Merrill Lynch Gets Saudi License [Dec 30]
"Saudi Commerce and Industry Minister Dr Hashim Yamani approved the establishment of a number of new joint stock companies including the Riyadh-based Merrill Lynch Saudi Arabia. According to an official statement carried by the Saudi Press Agency, Merrill Lynch Saudi Arabia, with a capital of SR50 million, will provide stock management and financial consultancy services. Merrill Lynch, which is licensed for 99 years, will have a four-member board of directors appointed by the general assembly for three years. 'As an exemption to the law, the founders have appointed its first board of directors for five years,' it said.." [more]

Saudi Mobile Firm Plans IPO to Fund Expansion [Dec 30]
"Itsalat International (i2), the largest mobile phone distribution company in the Middle East and Africa with operations in as many as 23 countries, plans to come out with an initial public offering towards the end of 2008, one of the company's biggest stakeholders said recently. 'We propose to get i2 listed on the Saudi Tadawul Exchange. Saudi Arabia's Capital Markets Authority will decide on how much of the company could be sold through the IPO,'.." [more]

Hot Oil, Weak Dollar Bolster Opec in ’07 [Dec 30]
"Very soon we will be celebrating the New Year 2008 putting behind us 2007 not before highlighting the main business events of this year. Although it is hard to prioritize these events, the oil prices missed to hit the much anticipated target of $100 by a few cents which is the main event of the year. This event has resulted in all oil producing countries pocketing millions some even billions in matter of just one or a few days? Last year we saw how the Organization of Petroleum Exporting Countries (OPEC) virtually apologized to its world customers for its inability to use its influence to bring down the oil prices which also doubled in less than 10 months from the $50 a barrel level. It was a genuine gesture from the oil producing countries after realizing the reality of the market speculators.." [more]

KAAU, Oracle to Sign MoU [Dec 30]
"King Abdul Aziz University (KAAU) and Oracle International will sign a memorandum of cooperation at the rector's office here on Monday. Under the agreement, Oracle will establish an academy called Oracle Academy, which will help introduce Oracle's database technology on Unix and thereby enhance the university's in-house services.. ..Oracle will benefit from KAAU's expertise in the IT field.." [more]

New Year Will Present its Share of Economic Challenges [Dec 30]
"Gulf Cooperation Council (GCC) states must address key economic issues in 2008. The challenges entail making steady progress on regional economic integration projects, concluding free trade deal with European Union, resolving the unemployment problem in several countries and strengthening economic reforms. One challenge is to speed up the pace of regional economic integration.. ..The third challenge deals with generating a sufficient number of jobs for locals.. ..Saudi authorities are under pressure to create 160,000 jobs annually. The authorities have banned expatriates from working in more than 30 categories.. ..Nevertheless, the decision makers must be careful with the policy of replacing expatriates, which can force business owners relocate their enterprises to other regional places.." [more]

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