News - November 2008

November 30-December 6, 2008

~~~~~~~~ [ Dec 6]~~~~~~~~~

Three Million Pilgrims to Converge on Mount Arafat on Sunday [Dec 6]
"Marking the climax of this year's annual pilgrimage of Haj, about three million pilgrims are expected to converge on Mount Arafat on Sunday, seeking the mercy of God. Chanting 'Labbaik Allahumma Labbaik (Here I am answering Your call, O God),' hundreds of thousands of pilgrims moved into the valley of Mina on Saturday at the start of Haj. An integrated security team of 100,000 personnel 
drawn from all the branches of the Ministry of Interior have been deployed across the holy sites to ensure safety and security of the pilgrims.. ..The Director of Department of Haj and Umrah Security at Haj Security Forces Major General Mansour Al Turki said that the number of pilgrims came for Haj from various parts of the world accounts for more than 1.7 million. The Adviser to the Minister of Haj and the Ministry's spokesman said that the ministry granted more than 199,000 permits to pilgrims inside the Kingdom through 236 companies and institutions working in the service of pilgrims at home. It is expected that more than 500,000 residents from Makkah will join them in performing Haj.." [more]

Saudi Stocks Trim Their Losses [Dec 6]
"The Saudi stock market last week trimmed its losses incurred over the past weeks mainly in response to remarks by Custodian of the Two Holy Mosques King Abdullah that the Saudi economy was still “strong” and that there was nothing to worry about. The Tadawul All-Share Index (TASI) gained 5.21 percent last week, closing at 4,654.88 points. The TASI is currently 57.83 percent lower than the year’s start. The rise in index was led by the petrochemical and banking sectors. In an interview with the Kuwaiti newspaper Al-Seyassah last week, King Abdullah allayed the fears of the Saudi people in particular and of Gulf citizens in general that they would be affected by the current global economic crisis. Investors are anxiously waiting for the yearly financial statements of banks and financial services and of petrochemical companies to assess the actual effect of the global financial crisis on them, the Riyadh-based Bakheet Investment Group (BIG) said in its weekly report.." [more]

Saudi to Revamp Aviation Sector [Dec 6]
"Saudi Arabia is planning a massive overhaul of its aviation sector besides restructuring the regulator, accelerating work on a $20 billion airport project in Jeddah, and creating up to 20 new charter airlines, said a report. The General Authority of Civil Aviation is to be broken up, creating five business units, the Meed reported, quoting an official of the authority. The authority appears to have backed away from a plan to issue initial public offerings for airports, which are currently heavily loss-making.." [more]

OPEC Head Predicts Output Cuts [Dec 6]
"The head of OPEC says financial markets should brace for a "surprise" decision on oil output cuts by the cartel during its summit later this month. Chakib Khelil, who is also Algeria's energy minister, has told The Associated Press that 'a consensus has formed for a significant reduction of production levels' by the 14-member Organization of Petroleum Exporting Countries. OPEC members are to announce their decision during a summit in Oran, Algeria, on Dec. 17. Markets are expecting an output reduction but Khelil suggested in an interview Saturday that it could be deeper than expected. Khelil said the best way to boost oil rates is to "surprise" markets. Oil prices settled at four-year lows Friday at $40.81 per barrel.." [more]

IAEA, GCC Hold Talks on Utilising Nuke Energy [Dec 6]
"Officials of the Gulf Cooperation Council countries met with the International Atomic Energy Agency to discuss prospects of utilising nuclear energy in the region for peaceful purposes, a report said. The two sides discussed the feasibility of GCC countries -- Kuwait, Saudi Arabia, the United Arab Emirates, Bahrain, Qatar and Oman -- acquiring nuclear technologies for non-military utilisation, a diplomatic source told Kuwait News Agency on Friday. The meeting, the sixth at this level between the two sides, was held in line with a resolution of the latest GCC summit, stipulating the possibilities of introducing nuclear technologies in the region. The three-day talks, held at the IAEA headquarters in Vienna, were constructive and dealt with various technical aspects of the project, the sources said. In February last, the GCC and the IAEA had agreed to cooperate and install basic equipment for the nuclear energy project.." [more]

~~~~~~~~ [ Dec 5]~~~~~~~~~

Saudi Forces Ready to Ensure Security During Haj [Dec 5]
"Saudi security forces are well prepared to ensure a peaceful and secure Haj, Saudi Arabia's Interior Minister Prince Naif Bin Abdul Aziz said. 'Our security forces are fully prepared for any eventualities and we hope the holiness of the Islamic ritual of Haj would be respected and nobody would try to undermine security,' he said. Prince Naif, who is also chairman of the Supreme Haj Committee, 
was addressing a press conference here last night at the end of his annual inspection tour of the holy sites prior to the annual pilgrimage of Haj that begins tomorrow.. ..Replying to a question about possible security threats during Haj, Prince Naif said: 'So far, we don't have any information (about threats) but we have taken all precautions to face anything, whatever the size may be. We hope 
nothing that clouds the Haj will take place.'.." [more]

Saudi Price Rise Surprises Asia [Dec 5]
"Saudi Arabia's unexpected increase in its official crude oil selling price (OSP) differentials to Asia next month could keep refiners away from the spot market or force deeper discounts for rival grades as runs are kept low on weak demand. Dealers, who had expected the world's biggest exporter to deepen discounts to record levels for many of its crude grades, responded to the overnight OSP news with a mixture of surprise and dismay, saying it would hurt margins.. ..'I don't understand why the Saudis lifted all prices to Asian users. Most refineries are having or considering run cuts, demand is sluggish, the spot market is trading in discount,' said a term lifter.." [more]

Saudi Arabia Hopes for a Safer Haj After Renovations [Dec 5]
"Over 2mn Muslim pilgrims arrive in the holy city of Makkah this week for the Haj pilgrimage amid a vast security operation to avert any militant attacks or deadly stampedes. The Hajis, one of the world’s biggest displays of mass religious devotion and duty for able-bodied Muslims. The climax of the pilgrimage would be on Sunday when worshippers spend the day gathered on and around Mount Arafat, about 15km east of Makkah. The Eid al-Adha begins on Monday when pilgrims begin three days of casting stones at walls in a symbolic renunciation of the devil. Saudi authorities have made renovations over the past year to ease the flow of pilgrims inside the Grand Mosque and the disaster-prone Jamarat Bridge. In January 2006, 362 people were crushed to death there, the worst Haj tragedy in 16 years.." [more]

SR60m Spent on Road Works for Haj [Dec 5]
"Transport Minister Jabara Al-Seraisry said SR60 million was spent for road repair, electrification and car parks in Makkah and the holy sites for this year’s Haj. 'The heavy traffic on the Makkah-Jeddah expressway will ease with the reconstruction of the old Makkah-Jeddah highway,' Al-Seraisry said yesterday at a press conference after an inspection tour of work sites in Mina. The 40-km-long first phase of the road, which is scheduled to be commissioned in 2010, will have four lanes in each direction, the Saudi Press Agency reported yesterday quoting the minister. The Civil Defense Directorate in Makkah, meanwhile, issued a warning to pilgrims against setting up makeshift camps in pedestrian tunnels because this might hinder the movement of pilgrims and become likely flashpoints for accidents.." [more]

Pakistan Likely to Get $2bn Saudi, UAE Loan [Dec 5]
"Saudi Arabia and the United Arab Emirates plan to offer loans totaling nearly $2 billion to Pakistan to help the beleaguered South Asian country escape its ongoing financial crisis, a former IMF official said. Mohsin Khan, the former International Monetary Fund director for the Middle East and South Asia, told a small group of experts in Washington about the amounts Pakistan can expect to receive from other donors, including those from the Kingdom as well as UAE. Khan, who was intimately involved in the negotiations of the $7.6 billion IMF bailout package for Pakistan just before he retired this week, said that the IMF program has paved the way for other funds to be mobilized toward Pakistan.He said he expects to see $1 billion from the UAE and anywhere from $500 million to $1 billion from Saudi Arabia for Pakistan’s recovery program.." [more]

Saudi Arabia Donates Egypt Two Ferries [Dec 5]
"Saudi Arabia donated two passenger ferries to Egypt on Friday during a visit by Egyptian President Hosni Mubarak, two years after an Egyptian-owned passenger ferry caught fire and sank off the Red Sea. Saudi state television showed Mubarak and King Abdullah at a ceremony in the Red Sea port of Jeddah where Saudi Arabia transferred ownership of the two new ferries to the Egyptian government. The gifts, costing $900 million each, according to al-Riyadh daily, come two years after an Egyptian-owned Red Sea ferry sank killing more than 1,000 passengers and causing controversy in Egypt over lax safety controls. The new ships will run the same route as the doomed Egyptian ferry, between Dhuba in Saudi Arabia and Safaga in Egypt.." [more]

~~~~~~~~ [ Dec 4]~~~~~~~~~

Abdullah Wins First Lech Walesa Prize [Dec 4]
"King Abdullah, Custodian of the Two Holy Mosques, is to receive the very first Lech Walesa Prize to recognize his charity and humanitarian work, the prize’s organizers announced Wednesday. A letter from Walesa to King Abdullah received by AFP Wednesday asks him to accept the award for his contribution towards 'interfaith dialogue, tolerance, peace and international cooperation,' as well as for his charity work.. ..Besides Walesa, his prize committee includes former anti-communist Czech dissident and ex-president Vaclav Havel, French Foreign Minister Bernard Kouchner and former Polish foreign minister Wladyslaw Bartoszewski.." [more]

100,000 Security Personnel for Hajj Pilgrimage [Dec 4]
"Saudi Arabia deployed some 100,000 security personnel to keep order as Muslim pilgrims flooded into the holy city of Mecca in preparation for the annual hajj, beginning on Saturday. Nearly 3 million pilgrims from around the world are expected to perform the hajj in Mecca and its nearby holy sites this year, according to Saudi authorities. Every year sees a massive security deployment for the pilgrimage — mainly to manage traffic of the crowds, prevent frictions and ensure safety.. ..Last year, Saudi police arrested 28 militants who were allegedly planning to attack sites around the holy cities of Mecca and Medina during the hajj. Interior Ministry spokesman Brig. Gen. Mansour al-Turki told The Associated Press there were no fears of any attacks this year. He said the security deployment was similar to last year's of 90,000.." [more]

Saudi Rental Prices Predicted to Fall as Building Permits Grow 213% [Dec 4]
"The number of both public and private residential and commercial buildings permits issued for the first quarter of 2009 in Saudi Arabia rose by 213.6%. The Saudi Arabian Monetary Agency (Sama) has predicted a decline in residential rental prices owing to the expansion in residential construction by both the public and private sectors. The report also expected construction costs to drop due to 
the noticeable decline in the price of building materials such as iron and cement. Currently, Saudi Arabia is witnessing a decline in inflation pressure indexes. This has forced property owners to lower rents as of next year's first quarter. The Saudi government previously announced its endeavour to curb inflation which has been one of the most difficult economic challenges.. ..Lately, Saudi Arabia has been witnessing successive increases in rental prices which exacerbated inflation rates. This in turn put a challenge for financial departments in the government that admitted that it was difficult to curb inflation rates because of global economic growth.." [more]

UK, Saudi Universities in Pact on Nanotechnology [Dec 4]
"A UK university has entered into a research collaboration with a Saudi Arabian institution. The University of Leeds has signed a research agreement with an organization in Saudi Arabia to investigate nanoscience. Working to develop collaborations with the King Saud University, the academic institution will create joint PhD projects with the King Abdullah Institute of Nanotechnology. The two organizations will also carry out research into how the science can be applied in sectors such as medicine, chemical manufacturing and electronics.. ..the new programs are expected to begin within two months and academic staff from Saudi Arabia will soon arrive in the city.." [more]

Oil May Fall Below $25 Next Year [Dec 4]
"Crude oil may dip below $25 a barrel next year if the recession that’s slashing fuel demand around the world spreads to China, Merrill Lynch & Co. said.. ..'A temporary drop below $25 a barrel is possible if the global recession extends to China and significant non-OPEC cuts are required,' Blanch said. 'In the short-run, global oil demand growth will likely take a further beating as banks continue to cut credit to consumers and corporations.' Crude hasn’t fallen below $25 a barrel on the New York Mercantile Exchange since November 2002. Global oil demand has slumped as the U.S., Europe and Japan face simultaneous recessions for the first time since World War II.." [more]

GCC Petrochemical Giants Set for Acquisitions [Dec 4]
"GCC petrochemical giants will be scouting for possibilities for acquisitions in China and India amidst the financial crisis, industry insiders at the third annual Gulf Petrochemicals and Chemicals Association (GPCA) conference said here yesterday. Industry leaders said though they saw strong decline in demands globally, they did not foresee layoffs in the establishments within the GCC. 'China and India remain at the top of our wish list of investments. Many of the GCC petrochemical giants are looking for possibilities of acquisitions in these two countries. This includes the Saudis.. ..Low costs of acquisitions during the troubled times would help GCC firms that have built strong cash reserves over the years.." [more]

~~~~~~~~ [ Dec 3]~~~~~~~~~

KSA, US Sign Technology Deal [Dec 3]
"Saudi and US officials have signed a science and technology cooperation agreement that includes nuclear energy technology. Assistant Secretary of State for Oceans, Environment, and Science Claudia McMurray says the agreement will allow greater agency-to-agency cooperation in a range of scientific and technological fields. The agreement was signed Tuesday. Prince Turki Bin Saud, vice president of the King Abdul Aziz City for Science and Technology, says those fields include nuclear energy. There were no other details available on the nuclear issue. The agreement formalises a decades-long, low-key relationship between the two countries.." [more]

Foreign Ministry Issues 1.75 Million Pilgrim Visas [Dec 3]
"Saudi missions abroad have issued more than 1.75 million visas for those who want to perform Haj this year, said Mohammed Al-Salloum, undersecretary at the Foreign Ministry for consular affairs. 'Saudi embassies and consulates in different countries completed the issuance of Haj visas on Monday evening,' Al-Salloum told the Saudi Press Agency. As many as 1,582,217 pilgrims have already arrived in the Kingdom from different parts of the world.. ..More than 2.5 million, including some 750,000 Saudis and expatriate workers from within the Kingdom, are expected to perform Haj this year. Saudi authorities have warned that only those domestic pilgrims who carry Haj permits would be allowed to enter the holy sites.." [more]

Saudi SABIC Cuts European Output [Dec 3]
"Chemical giant Saudi Basic Industries Corp 2010.SE (SABIC) has cut output at its European plants as global demand falls with the slowing economy, SABIC's chief executive said on Wednesday. 'We have reduced (production) in Europe,' Chief Executive Mohamed al-Mady told Reuters on the sidelines of a petrochemical conference in Dubai. Mady declined to give details on how much SABIC had cut output or for which products. The firm produces petrochemicals, plastics, fertilisers and steel.. ..SABIC posted its first quarterly decline in profits in more than two years in the third quarter and has said that it expected the slowing economy to hit fourth-quarter results. SABIC continued to run plants in Saudi Arabia at full capacity.." [more]

Saudi Money Supply Accelerates to 20.2% [Dec 3]
"Annual growth in Saudi Arabia's money supply accelerated to 20.2 per cent in October from 19.4 per cent in September, central bank data showed yesterday, after the kingdom boosted liquidity to keep the economy growing. M3, the broadest measure of money circulating in the economy, rose to 901.09 billion riyals (Dh883.15 billion) by end-October compared with 749.78 billion riyals a year earlier.. ..September money supply growth was the lowest since April. Annual growth in money supply was 21.8 per cent in August.'It was expected,' said John Sfakianakis, chief economist at HSBC's Saudi affiliate. 'They [Sama] injected cash and cut both the repo rate and reserve requirements since the banks had credit capacity limitations. Sama's primary concern now is growth.'.." [more]

Shuaa Capital Hosts Conference in London to Attract Investors to Saudi Arabia [Dec 3]
"Shuaa Capital, a leading regional financial services firm, is promoting investment opportunities in Saudi Arabia at a conference in London. The company said yesterday the Saudi Capital Market Authority has granted a brokerage licence to its subsidiary, Shuaa Capital Saudi Arabia. 'Saudi Arabia offers investors, at this time of unprecedented financial turmoil, one of the few emerging economies with a real and exciting opportunity for growth,'.. ..Following receipt of the brokerage licence, Shuaa Capital Saudi Arabia will be authorised to commence offering its international clients access to companies listed on the Saudi stock exchange, Tadawul.." [more]

Saudi Stock Index Dives 4.33% [Dec 3]
"After surging 1.22 percent on Monday, the Saudi stock market dropped sharply yesterday with all sectors in negative territory. Other Gulf stock markets also closed lower yesterday after the confirmation by the National Bureau of Economic Research (NBER) the US economy has been in recession since December 2007. The Tadawul All-Share Index (TASI) plunged 4.33 percent or 207.50 points to 4,588.26 as the Eid Al-Adha holiday approached. The TASI, which had started trading with a loss of six percent, was dragged down by the leading petrochemicals and banking sectors.. ..Saudi Arabia’s market has been impacted the worst with the market cap erosion to GDP ratio standing at 68.2 percent. The market cap to GDP ratio of Saudi Arabia stood at 133.1 percent at the end of 2007, nearly in line with world markets despite higher growth expected in the region.." [more]

~~~~~~~~ [ Dec 2]~~~~~~~~~

Saudi Crown Prince Meets With Students in US [Dec 2]
"Crown Prince Sultan, who is in New York for medical tests, has met with a group of Saudi students in the United States and offered each a gift of $10,000, the Saudi Press Agency reported Tuesday. Apparently to dispel any rumors about the prince's health, the government-run Saudi TV channel showed a smiling Sultan walking to a podium and waving his hand in what appeared to be a hotel 
conference hall Monday night. Rumors of Sultan's poor health surfaced following his Nov. 23 departure to New York for medical tests. Government media did not give details on the nature of the tests. But the prince, who is heir to the throne and also the kingdom's defense minister, underwent surgery in May 2004 to remove an intestinal cyst.. ..The prince, who is in his 80s, is King Abdullah's half brother and one of the most powerful figures in the kingdom. He was appointed defense minister in 1962 and closed several multibillion deals to establish the modern Saudi armed forces.." [more]

Japan, India Cool on Saudi $75 Oil Target [Dec 2]
"Big Asian oil consumers India and Japan gave a cool response on Tuesday to Saudi Arabia's suggestion that $75 a barrel was a 'fair' price for oil, saying cheaper crude was preferable during the worst economic crisis in generations. While stopping far short of suggesting a new price target for OPEC, Saudi Arabia's king and its oil minister said at the weekend that $75 oil would encourage new oil production from marginal, higher-cost sources, a move that analysts say is necessary to help prevent a possible shortage in years ahead. While that is half the $147 a barrel record high hit in July, few in Asia were ready to embrace a higher medium-term equilibrium as they enjoyed $50 oil for the first time in over three years.. ..With investors worldwide spooked by the prospect of recession and Japan seemingly on course for its longest-ever economic contraction, a higher oil price would make things even tougher.." [more]

Saudi Index Falls Over US Economy Concerns [Dec 2]
"Concern over the health of the US economy dragged down the Saudi benchmark index on Tuesday with declines also affecting blue chips. Riyad Bank was down 6.5 percent, Samba Financial Group shed 5.47 percent and mining firm Maaden fell 6.4 percent. The index was down 3 percent to 4,651.77 points. Investors took their cues from international markets in the absence of proper communication from the government on the health of the saudi economy, said Abdulhamid al-Amri, a member of the semi-official Saudi Economic Association think tank.. ..Other Gulf markets close lower, tracking global bourses hit by renewed concerns about a deep global recession, with bank and real estate stocks among the biggest losers on regional bourses.." [more]

Al-Gosaibi Rules Out Minimum Wage [Dec 2]
" Labor Minister Ghazi Al-Gosaibi yesterday made a series of comments pertaining to Saudi unemployment, including the rejection of the idea of a minimum wage standard and an announcement of the implementation of a new system for employing Saudis. He said the ministry is aware that many companies are flaunting rules pertaining to Saudization, the national policy that requires companies 
to reserve a portion of jobs for Saudi citizens. 'There are thousands of major companies that are not abiding by the Saudization requirements and we are going to be serious now about this issue,'.. ..Al-Gosaibi rejected the idea of a minimum wage, claiming that experts have said that setting a minimum wage leads to more unemployment.." [more]

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

Saudi Arabia: Official Source Deplores Palestinian Statement on Hajj Visas [Dec 1]
"An official source at the Ministry of Foreign Affairs said here today Saudi Arabia deplores false statements issued by a member of the Palestinian Legislative Council as regards Palestinians in Gaza not getting visas for the Kingdom to perform Hajj. The source said Saudi Arabia views all Palestinians on equal footing. "The Kingdom has given thousands of Palestinians from all occupied territories including the Gaza Strip, visas for the Kingdom to perform Hajj, which were delivered to the Palestinian Authority. Moreover, Saudi Arabia has increased the visa quota for Palestinians, taking into account the circumstances of their humanitarian conditions.. ..'In the light of this, the Kingdom of Saudi Arabia has no option but to condemn the purpose of these false statements; as altering facts will be neither in the interests of the Palestinian people nor in the facilitation of the performance of their religious rites, '.." [more]

Somali President Says Tanker to be Freed Without Ransom [Dec 1]
"Somali President Abdullahi Yusuf Ahmed said in an interview published on Monday that a Saudi oil tanker seized by Somali pirates will be freed soon without a ransom. 'It is not true that the hijackers have demanded a ransom of millions of dollars to release it,' he said told the Saudi newspaper Okaz. 'We are confident that efforts made by tribal leaders and government officials will result soon in 
releasing the ship without any ransom,'.. ..Somalia has been plagued by relentless fighting involving a myriad of clans, Islamist groups, as well as Ethiopian troops and Somali government forces.." [more]

Saudi Will Be Hit By Oil Price Fall in 2009 [Dec 1]
"A sharp fall in oil prices and tight credit conditions will hit Saudi Arabia's economy in the first half of 2009 as the world's top oil exporter grapples with the global financial crisis' fallout, a SABB bank survey showed. The fourth-quarter survey of 623 executives found that only 14 percent did not expect the global financial crisis to affect the Saudi economy.. ..17 percent expected the oil-based economy to be affected by the crisis and 58 percent said there might be an impact.. ..'Overall, the business environment will remain strong during the first half of 2009, but clouds are forming in terms of lower growth expectations,' said the bank, which began the survey in February. The SABB business confidence index fell 3.8 percent to 96.4, its first drop below 100, a sign that 'firms are bracing for an anticipated slowdown in growth and business over the next two quarters'.." [more]

Oil Falls to Near $52 as OPEC Doesn't Cut Output [Dec 1]
"Oil prices fell to near $52 a barrel Monday, a drop of over 4 percent from Friday, after OPEC decided not to cut production at an informal meeting in Cairo on Saturday.. ..Saudi Oil Minister Ali Naimi said Saturday that the Organization of Petroleum Exporting Countries will 'do what needs to be done" to shore up falling oil prices when the group meets Dec. 17 in Algeria, but for now it was "too early.'.. ..Naimi's comments came after Saudi King Abdullah told the Kuwaiti newspaper Al-Seyassah in an interview published Saturday that oil should be priced at $75 a barrel. 'They need to cut a lot to get the price to $75,' said Victor Shum, an energy analyst with consultancy Purvin & Gertz in Singapore. 'Demand is disappearing underneath them fast.' Iranian Oil Minister Gholam Hossein Nozari was quoted as saying Sunday that the market was oversupplied by around 2 million barrels per day and that production should be cut by that amount. OPEC, which accounts for about 40 percent of global supply, reduced output quotas in October by 1.5 million barrels a day.." [more]

The World Descends on Medina [Dec 1]
"The old man wobbles as he stands up out of his wheelchair before the reach of his son steadies him. Carefully, he helps his father adjust the ihram – the two pieces of white sheet men are obliged to wear when performing either the hajj itself or the smaller pilgrimage called umrah – which covers his torso. Having seen to his father he moved on to his mother who is also wheelchair-bound, helping her to drink some water and pinning her hijab into place. A peek into his suitcase shows it is full of adult nappies for one of his parents or perhaps both. If ever there was a moment which encapsulated the hajj, it was this.. ..There are so many differences between the millions of people who have made their way to Saudi Arabia at this auspicious time, but the reason we're all here is exactly the same: to perform our hajj rites for the sake of God.." [more]

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

Egypt Favors Quiet Diplomacy With Saudis [Nov 30]
"Egypt's foreign ministry spokesman says his government favors quiet diplomacy in the case of two Egyptian doctors sentenced to prison and lashes in Saudi Arabia. But Hossam Zaki says Egypt won't abandon the case. The doctors were convicted earlier this month of illegally trading pharmaceuticals in Saudi Arabia. One was also found guilty of having affairs with his female patients.. ..Last week, Egypt's foreign minister said the "media fuss" over the doctors could have serious consequences.." [more]

Arafat Day on Dec. 7 [Nov 30]
"Saudi Arabia’s Supreme Judicial Council announced yesterday that Sunday, Dec. 7, would be the Day of Arafat and Monday, Dec. 8, Eid Al-Adha. According to a statement carried by SPA, Saturday, Nov. 29, was Dul Hijjah 1 and that there were 30 days in Dul Qaada 'because the council did not receive any report of moon sighting.'.."  [more]

Opec Defers Output Cut to December Meeting [Nov 30]
"Opec yesterday deferred a decision on a new oil supply cut amid signs that Saudi Arabia and its Gulf allies are demanding tighter adherence to restraints put in place over the past two months. Gulf producers want to see strict compliance with recent output curbs of 2mn bpd before considering further reductions when the Organisation of the Petroleum Exporting Countries meets in Algeria on 
December 17. 'Compliance I think is OK,' said Kuwaiti Oil Minister Mohammad al-Olaim. 'But the market conditions require us to be 100% compliant.' Delegates said that ministers discussed how much more they needed to cut in December. Most, including Gulf producers led by Saudi Arabia, saw a requirement to slice another 1mn to 1.5mn bpd. But for that to happen, delegates said, Riyadh wants proof that all fellow members are meeting their part of existing curbs.." [more]

Abdullah, Sarkozy Discuss Financial Crisis [Nov 30]
"King Abdullah, Custodian of the Two Holy Mosques, and the visiting French President Nicolas Sarkozy on Saturday discussed the global financial crisis and efforts exerted to curb its negative impact on the world economy. President Sarkozy is also the chairman of the current session of the European Union. King Abdullah and President Sarkozy reviewed the outcome of the recent G20 summit in Washington. They also discussed the importance of consolidating the joint international efforts to preserve security and safety of navigation in the gulf of Aden.. ..The talks also dealt with the regional developments, particularly the Palestinian issue and the need to reach a just and comprehensive solution that guarantees the right of the Palestinian people in self-determination and establishment of their own independent state on their national soil in accordance with the resolutions of the international legitimacy and the Arab peace initiative.." [more]

King Says Fair Price for Oil $75 a Barrel [Nov 30]
"Custodian of the Two Holy Mosques King Abdullah said the Kingdom’s economy was in excellent condition and that it had only suffered from the panic that gripped the world following the economic meltdown elsewhere. In an interview with the Kuwaiti newspaper Al-Seyassah yesterday, King Abdullah said Saudi Arabia wanted the price of oil to stabilize. 'In our view, $75 per barrel would be a fair price. Our budgets are not based on the earlier high price but on a lower one. What comes in excess goes to surplus reserves and sovereign wealth.' The oil price that reached an all-time record of $147 per barrel in July fell to one-third of that figure following the economic crisis. King Abdullah admitted that the oil price fall may have slowed down some trade activities 'because of those who stop spending because of fear.' He, however, said the crisis acted as a catalyst to bring Gulf Cooperation Council (GCC) countries closer.." [more]

Saudi Readies Largest E-Health System [Nov 30]
"The largest electronic health system in Saudi Arabia has gone fully operational following a series of successful tests, said the Arabian Company for Trade and Industrial System (Alcantara). Alcantara is an exclusive agent for Nexus AG of Germany and the Swedish enterprise resource planning applications company IFS. The Nexus system is applied in a number of other hospitals in Saudi Arabia and more than 600 hospitals in Europe, US and other parts of the world.." [more]

Kingdom Joins Hand in Fight Against AIDS [Nov 30]
"The Kingdom will join the member nations of the World Health Organization (WHO) to observe World AIDS Day tomorrow. World AIDS Day is being celebrated this year under the theme of leadership, with the global campaign slogan “Leaders! Keep The Promise — Stop AIDS” and the regional slogan “Women! Take The Lead.” The contribution of women leaders has been considerable. Alongside men, women have undertaken innovative and effective action in the fight against the disease. The Saudi Ministry of Health has instructed all of its health centers across the Kingdom to observe the day.. ..Health Minister Dr. Hamad Al-Manie is slated to issue a statement tonight to the nation on the significance of the global event.." [more]

From Saudi Arabia to Pakistan: Muslims Condemn Mumbai Terror [Nov 30]
"As the world comes to grip with the death and destruction that has taken place in Mumbai over the last few days. Muslims from around the globe have united to denounce the violence as un-Islamic.. ..Saudi Arabia along with all the Gulf States joined the chorus making it clear that these attacks have nothing to do with the practice of Islam. Adnan Khalil Basha, secretary-general of the International Islamic Relief Organization in Saudi Arabia expressed sympathy with the victims and called the terror an affront to islam. The Saudis are currently cracking down on extremist activity and banning and confiscating all books in support of extremism from bookshops and libraries.." [more]

November 23-November 29, 2008

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

Saudi King Denies US Seeking Funds [Nov 29]
"Saudi Arabia's King Abdullah Bin Abdul Aziz denied the US is seeking billions from the Gulf Co-operation Council (GCC), including Saudi Arabia, as part of its efforts to overcome the financial crisis. He stressed that Saudi Arabia and other Gulf states did not and will not give any amount of money to the US for that purpose. 'All major countries in the world have been affected by the economic meltdown amounting to trillions and therefore, they are not in need of mere billions from the Gulf,' he said.. ..He said that the economy of Saudi Arabia is in an excellent position and that Saudi sovereign wealth funds are safe in the global economic crisis. He said that the kingdom's budget was not affected by the global financial crisis. The budget was prepared on the assumption that the price for oil is $75 per barrel.." [more]

Saudi Index Soars After King's Comments on Economy [Nov 29]
"The Saudi stock market has soared 9.51 percent after the king described the economy as stable in the face of the global market meltdown. The Tadawul All-Share Index (TASI) closed Saturday at 4,845.1 points. The rise was led by the banking and petrochemical sectors. Last week, the TASI suffered a sharp drop, reaching a five-year low of 4,200 points, mainly because investors were alarmed by the sharp declines in crude oil prices. Saturday's rise came after a widely publicized interview with Saudi King Abdullah in which he described the Saudi economy as being 'in great shape.' The king also said the national budget has not been affected by the world financial crisis.." [more]

Opec Refuses Oil Production Cuts [Nov 29]
"Opec energy ministers have decided to leave oil production quotas unchanged after talks in the Egyptian capital following falls in the price of oil. Opec President Chakib Khelil said any such decision would be made at a meeting in Algeria next month. The price of a barrel of oil has tumbled to below $55 after peaking at a record $147 in mid-July. Opec members have lost billions of dollars as demand has dropped in the face of the global economic downturn. Opec member Venezuela favours a cut in output of a million barrels a day to try to boost prices. But several Opec ministers had already dampened expectations that a cut in production would be announced this weekend.." [more]

Riyadh Seeks Fair Oil Price [Nov 29]
"Saudi Arabia yesterday identified $75 (Dh275.25) a barrel as a fair price for oil, the first time in years the world's leading crude exporter has cited a price target. 'We see the fair price of oil as $75 per barrel,' Saudi Arabia's King Abdullah Bin Abdul Aziz was quoted as saying in an interview published by Kuwaiti newspaper Al Seyassah. The Saudi oil minister also identified $75 a barrel as a fair price for oil, the first time in years the kingdom has cited a price target. Ali Al Naimi said in Cairo before a meeting of Opec ministers that oil prices needed to return to $75 to keep the more expensive new projects at the margins of world supply on track.. ..The Saudi comments are likely to come as a relief to major oil consumer countries hoping Opec will not seek to push crude prices back towards $100 barrel during a recession.." [more]

Abdullah, Sarkozy Call for Efforts to Protect Shipping [Nov 29]
"Custodian of the Two Holy Mosques King Abdullah and French President Nicolas Sarkozy yesterday called for international efforts to protect shipping in the Gulf of Aden. The two leaders also discussed the global financial crisis and Middle East peace, during a brief visit by Sarkozy to Saudi Arabia, the Saudi Press Agency reported. King Abdullah and Sarkozy underscored 'the need to reinforce international efforts to preserve shipping security in the Gulf of Aden,' SPA said. Their call comes a day before the expiry of a $25-million ransom which Somali pirates are demanding for the Saudi supertanker Sirius Star seized two weeks ago. Sarkozy arrived in Jeddah yesterday for a brief visit to the Kingdom after addressing a UN aid conference in Qatar, where he said EU assistance to poorer countries — pledged at $61 billion this year — would not be sacrificed.." [more]

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

Eleven of 12 Saudi Hostages Rescued From Mumbai Hotels [Nov 28]
"Eleven Saudi nationals, including three diplomats, taken hostage in Mumbai's Taj and Trident-Oberoi Hotels, have been safely evacuated while one man is still missing. The diplomats rescued on Thursday have been shifted to the Saudi Consulate in Mumbai while eight others, one of them a young boy, will be flown back to the country today, a Saudi Gazette report said. 'We are still looking for a Saudi citizen who has telephoned us (from the Trident) and asked for help,' Saudi charge d'affaires Muhammad Barri told the newspaper from New Delhi. Foreign Minister Prince Saud Al-Faisal has instructed the the country's missions in India to assist Saudi nationals seeking refuge. Meanwhile, Saudi Arabia has denounced the terrorist attacks in India's financial hub and expressed its condolences to the Indian government and people." [more]

Research Needed Into Causes of Terrorism – Naif [Nov 28]
"Prince Naif Bin Abdul Aziz, Minister of Interior, spoke Wednesday at the Islamic University in Madina on terrorism-related subject, foremost among them the problem of deviant thought, critics of the Salafist approach, misguided use of the Internet, rehabilitation of detained deviants and the role of senior scholars. The Interior Minister, addressing university students and staff in a dialogue session, said he had asked the Imam Mohammed Bin Saud and the King Saud universities in Riyadh to conduct research into why 'such people slide into involvement in such acts and how the issue can be successfully dealt with.' He said the creation of a national strategic plan and a national research center to confront deviant thought was a subject worthy of attention.. ..As to the research center, Prince Naif said that King Abdullah had proposed an international research center to combat terrorism to some 54 nations. 'We hope,' he said, 'to see this proposal realized in the near future.'.." [more]

OPEC's Divisions Manifest as Oil Prices Plummet [Nov 28]
"For the third time in as many months, OPEC's ability to stem plummeting crude prices amid a global economic meltdown will be tested during a meeting Saturday. But the outcome of the meeting, called to assess the impact of earlier production cuts, likely hinges on a key issue with which the Organization of Petroleum Exporting Countries has had a checkered past: unity. 'There is total 
confusion" among OPEC's 13 members'.. ..'These people ... really have no business model. They basically thrive when oil prices go up, and now they are crying uncle when prices go down.' And prices have fallen hard. Demand for crude has evaporated amid a global financial avalanche that threatens to cut deeply into the budgets of OPEC member states. Just four months removed from $147 per-barrel crude, U.S. benchmark West Texas Intermediate crude for January delivery traded at about $53 per barrel Friday.." [more]

Saudi Arabia Removes Extremist Literature [Nov 28]
"In the latest drive to combat terrorism and extremism, the Saudi Arabian authorities have started removing offensive books from all school libraries. The Ministry of Education, keen to protect the younger generation from deviant ideology, issued orders banning a number of controversial books containing extremist ideas. They include two controversial books - The lies about Sayyid Qutb and The Jihad in the way of God. Several leading Saudi academics and thinkers hailed the ministry's decision, describing this as manifestation of their firm determination to remove all sources of ideological and religious extremism, to protect youths, easily lured into terror networks.. ..Apart from withdrawing extremist literature from libraries, the authorities have also taken measures to combat the extremists' drive to recruit youths from schools," he said and cautioned against the influence of school teachers who may be indoctrinating pupils by teaching topics unrelated to the school of syllabus.." [more]

Islamic Courts in Somalia: We Are Not Courting Saudi Arabia [Nov 28]
"Asharq Al-Awsat- Sheikh Abdul Raheem Isa Ado, the spokesman for the Islamic Courts’ forces in Somalia has stated that the Courts have issued warnings to the pirates responsible for the hijacking of the Saudi Sirius Star oil tanker on November 17 at the port city of Haradheere, Puntland. The Courts demanded that the pirates end the operation, release the oil tanker and ensure that the crew is returned to safety. In this exclusive interview, Abdul Raheem spoke to Asharq Al-Awsat by phone from the Somali capital, Mogadishu. The interview proceeded as follows.." [more]

Forum Suggests Measures to Protect Divorced Women [Nov 28]
"More than 100 women, officials and legal experts discussed women’s and children’s rights in divorce in Saudi Arabia on Tuesday at a Dammam forum and issued more than 70 legal, social and cultural recommendations.. ..The divorce rate has increased in the Kingdom, reaching 60 percent in 2007, prompting the need for an institutional system to safeguard women’s rights in divorce.. ..'The goal here is not to prosecute men — this is not a women’s demonstration for their pain,' said women’s rights activist Thurayya Al-Arayyedh. 'This is a step toward a fair system for all sides in a divorce — men, women and children.' Wafa Al-Tuwaijri of the King Abdulaziz Center for National Dialogue said it is also important to deal with the causes of divorce, as they are the same causes for abuse of family members after a divorce.." [more]

Saudi-Swedish Ties Set For a Major Boost [Nov 28]
"Trade Minister Dr. Ewa Bjorling, who arrives today for a three-day visit in Jeddah, hopes to further strengthen bilateral ties between Sweden and Kingdom with high-profile meetings. 'The visit underscores Sweden’s stepped-up efforts in further strengthening the existing bilateral ties between Sweden and Saudi Arabia specially in trade. Sweden’s export volume to the Kingdom so far this year is up 32 percent from the same period last year,' Swedish Ambassador Jan Thesleff told Arab News.. ..They signed a protocol on Mutual Investment Protection Agreement after many years of negotiations. Bjorling will be discussing with Saudi officials ways to further develop and improve bilateral trade between the two countries which touched SR7 billion last year, investment in Saudi Arabia by Swedish businessmen and in Sweden by Saudi investors and the establishment in the Kingdom of Swedish manufacturing firms. Accompanying her will be Per-Erik Sandlund, director of Swedish Invest in Sweden Agency (ISA). The ambassador noted that two major Nordic manufacturers are keen to establish market presence in Saudi Arabia.." [more]

Obama and the Arabs [Nov 28]
"In the Arab world, some of the excitement generated by Barack Obama’s election victory has now worn off. The appointment of Rahm Emanuel as White House chief of staff and the likely appointment of Hilary Clinton as Secretary of State – both known for their pro-Israeli leanings – has served to dampen expectations of a radical change of policy. Nevertheless, there is a sense that some change is unavoidable and must come. In Washington, the neo-conservatives, who had shaped President George W Bush’s Middle East policies, are out of power and on the defensive. The new team will have much to do clearing up the wreckage caused by these ideologues, and restoring America’s battered authority and reputation.. ..The expectation in the region is that Obama’s team will be more open to dialogue, and more even-handed than its predecessor. But the real concern is that it will attempt to bring piecemeal solutions to Middle East’s conflicts, rather than grasping that they are all inter-linked and will need a global settlement.." [more]

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

Saudi Supertanker Sirius Star Located Off Coast of Somalia [Nov 27]
"Satellite pictures have emerged showing the supertanker, which is almost a third of a kilometre in length, floating about five miles offshore in the Gulf of Aden.. ..The ship, whose hostaged crew includes two Britons, has been in limbo since it was seized on November 15. The pirates are demanding a ransom of almost £10million. It is the most prized asset ever seized by the pirates. It contains a cargo of 2 million barrels of oil, which it was carrying from Saudi Arabia to the US, worth an estimated £68million.. ..a pirate on board the Sirius Star told the BBC that they had not been contacted by the supertanker's owner. The pirate, who called himself Daybad, said: 'We captured the ship for ransom, of course, but we don't have anybody reliable to talk to directly about it.' He added that they regarded the ship's crew as 'prisoners of war'.." [more]

Riyadh Gets Tough on Human Trafficking [Nov 27]
"In an effort to stem the ever increasing numbers of human trafficking cases, Saudi Arabia has finalised a draft law which will allow the culprits to be severely punished. On Monday the Shura Council unanimously approved a draft law allowing up to 15 years imprisonment and a maximum fine of one million Saudi riyals (about Dh980,000) or both, for those convicted of the crime.. ..'In some cases of human trafficking, the culprits will be sentenced to a maximum of five years in jail and a fine of 200,000 riyals or both. In other cases, the jail term and fine will be up to two years and 100,000 riyals or both,'.." [more]

Women Deployed at Makkah Checkpoints [Nov 27]
"All the 10 checkpoints leading to Makkah now have women working as inspectors to check if female Haj pilgrims are legal residents and have the Haj permit without which they will not be allowed to enter the holy city. In all, 40 women inspectors have been deployed at the checkpoints at all the routes connecting the holy sites.. ..The move was because many women stay illegally in the Kingdom with their spouses or work illegally as maid servants, the Mayor said. Those found without legal permits will be dealt with according to the regulations.." [more]

Acquisition of Foreign Assets by GCC Exceeds $900bn [Nov 27]
"The cumulative acquisition of foreign assets by the Gulf Cooperation Council (GCC) exceeded $900 billion in the five years ended June 2008. Traditionally, the US has been the destination for the bulk of GCC capital. According to Samba Financial Group report — Tracking GCC Foreign Investments: How the Strategies are Changing with Markets in Turmoil — interest in the US market has remained strong in recent years, accounting for almost half the foreign assets accumulated during the past five years. The share of GCC capital flows destined to countries other than the US over the past five years — some $450 billion — has found its way into a variety of asset types in other parts of the world. Favored areas have been Europe, the Middle East and North Africa and East Asia. GCC foreign asset accumulation in 2008 is likely to reach around $390 billion.." [more]

Greece Discusses Investment [Nov 27]
"A meeting of Saudi businessmen organized by the Embassy of Greece here on Tuesday night celebrated the strong bilateral economic ties and discussed the vast investment opportunities existing in both countries.. ..'Greece is the gateway to southeast Europe that has a regional market with a population of 140 million,' Michas said, adding that the country provides access to the emerging and high growth markets of southeast Europe and eastern Mediterranean region. 'The country’s investment climate is positive with lots of attractive incentives for overseas businessmen. The country also has a high GDP growth,' he added. Over 4,000 Greek companies have invested 50 billion euros in southeast Europe. 'With its conducive business environment, Greece has tremendous scope to attract overseas investors,'.." [more]

Oil Under $45 Would Be Concerning to GCC [Nov 27]
"A drop in oil below $45 a barrel would be 'concerning' for the richest GCC countries on fears of shrinking economic growth and cutbacks in infrastructure spending, a leading commodities analyst said on Thursday. Hussein Allidina, head of commodities research for investment bank Morgan Stanley told Arabian Business on Thursday: 'I think the UAE and Saudi (Arabia) can cope in a $45 to $50 oil environment but if it falls below that it may get concerning. They would have to have cut back on expenditure.'.. ..Speculation has been rife in recent weeks about how GDP growth of big oil producing GCC countries will be affected if oil prices continue to plummet. Gulf countries are heavily reliant on oil as the main driver of the economy and have budgeted infrastructure spending on roads and big real estate projects on oil prices staying above a certain level. Last week, US bank Citigroup said that Gulf Arab countries could witness an abrupt decline in external surpluses next year if oil prices averaged $50 a barrel or below.." [more]

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

Shiites Move to Have Cordial Ties With Sunnis [Nov 26]
"Eleven Shiite activists and cultural figures have issued an online statement seeking rapprochement with the major Sunni section of the Muslim Ummah across the world, especially in the GCC States. They also expressed their readiness to abandon several religious principles that promote sectarianism and friction within Muslim society.. ..In the statement, carried by the Arabic website of Ukhdud from the southern Saudi region of Najran, the Shiite figures said that, 'being members of the new generation of the Shiite sect of Ithna Ashariya (Twelvers), we agreed to reject several religious principles that stand in the way of promoting tolerance and love with our brothers in Islam.' 'We are issuing this statement to pronounce our ideology, understandings and goals for liberating the Shiite Islam from hegemonic trends and put an end to all those factors that hamper good relations with our brothers in religion, nation, and humanity,'.." [more]

Tadawul Falls Even as Other Gulf Stocks Rise [Nov 26]
"Most Gulf stock markets closed higher on Tuesday, buoyed by a global rally on the back of stimulus packages and rescue plans, but profit-taking took them off their maximums for the day.. ..The Saudi Tadawul All-Shares Index (TASI), the only Gulf market to rise on Monday, closed down 0.86 percent at 4,490.46 points after rising by 3.15 percent in initial trades. The TASI was pulled down by a drop in most sectors, with the leading petrochemicals sector shedding 2.4 percent after rising in early trades. Market leader SABIC dropped 2.2 percent, while the banking sector rose by just 0.26 percent. The TASI is down 59.3 percent on the year.." [more]

Mega Tourism Projects Planned on Red Sea Coast [Nov 26]
"Prince Sultan bin Salman, secretary-general of the General Commission for Tourism and Antiquities (GCTA), announced his organization’s plan to establish three mega tourism projects on the Red Sea coast. 'We’ll present these projects to higher authorities for approval,' he said. Prince Sultan’s statement follows the approval of a strategic tourism development plan by the Council of Ministers, which aims to boost the Kingdom’s growing tourism sector by making use of its Red Sea coast. According to GCTA officials, plans have been prepared to establish new tourism projects worth 
SR150 billion along the Red Sea.. ..The plan is in line with the government strategy to increase the tourism industry’s share in the Kingdom’s gross domestic product from six to 16 percent by 2020.." [more]

Age of Adulthood Raised to 18 [Nov 26]
"The Shoura Council has passed legislation raising the age of adulthood from 15 to 18 amid strong opposition from the council’s president and some members.. ..The age of adulthood has been a topic of debate among Islamic scholars for a long time.. ..a former judge who specialized in Islamic legislation, said it was 'contradictory' for the Saudi government departments to adopt two ages of adulthood. Al-Qasim was referring to practices such as that of the traffic authorities to deny driving licenses to anyone under 18, while the Passport Department requires the consent of parents prior to allowing young Saudi men under 21 to travel abroad. He also pointed out that the Ministry of Municipal and Rural Affairs does not grant land to those under 18 unless they are orphans or disabled. The former judge called for considering the actual age, not just biological signs, as the end of childhood and the beginning of adulthood, especially since there are no clear-cut Shariah rules on the issue.." [more]

Turkey, Saudi Arabia Sign Economic Protocol [Nov 26]
"Turkey and Saudi Arabia signed on Wednesday an economic protocol in the Turkish capital of Ankara. Turkey's Finance Minister Kemal Unakitan and Saudi Arabia's Minister of Transport Jubarah Suraysri put their signatures under a protocol of the ninth meeting of the joint economic committee between the two countries. 'The protocol reaffirms commitment to achieve huge goals,' Unakitan said during the signature ceremony. Unakitan said that Saudi Arabian authorities should accept letters of guarantee granted by Turkish banks to Turkish contractors conducting business in Saudi Arabia. Solving this problem would boost the cooperation of the two countries.." [more]

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

Call for Gulf-Iran Security Agreement [Nov 25]
"A top Saudi official has called for a comprehensive security pact between the Gulf Cooperation Council (GCC) states and Iran. 'The Gulf region should be free from a catastrophic conflict and arms race at the expense of huge prospects for development and progress,' said Prince Talal Bin Abdul Aziz, President of the Arab Gulf Programme for United Nations Development Organisations (AGFUND).. ..Prince Talal called for initiating negotiations between the GCC states and Iran to reach an elaborate security agreement not only restricted to non-aggression, but that also builds mutual trust.. ..He reemphasised that the current situation in the Gulf region is not beneficial. He said that the aggravation of the security situation is the outcome of mutual suspicion and doubt. Prince Talal said Iran's threats have caused the GCC states to doubt its intentions, especially with reference to its nuclear programme.." [more]

Pirates Yet to Set Ransom for Saudi Supertanker [Nov 25]
"Somali pirates holding a Saudi supertanker loaded with crude oil say the ship owner has not contacted them and that they have not yet set a ransom.. ..Somali pirates seized the Sirius Star on Nov. 15 in their most audacious hijacking to date. The vessel is carrying 2 million barrels of crude oil worth about $100 million.. ..Shipping officials from around the world have called for a military blockade along Somalia's coast to intercept pirate vessels heading out to sea. The head of the International Association of Independent Tanker Owners, representing most of the world fleet, said Monday that stronger naval action — including aerial support — was necessary to battle rampant piracy in the Gulf of Aden near Somalia. But NATO, which has four warships off the coast of Somalia, rejected a blockade.." [more]

Turkey Says Trade Volume With Saudi Arabia to Hit $15 bln in Five Years [Nov 25]
"Turkish Finance Minister Kemal Unakitan said Tuesday that Turkey has set up a five-year objective to increase its trade volume with Saudi Arabia to 15 billion U.S. dollars, the semi-official Anatolia news agency reported. 'The trade volume between the two countries was around 4.6 billion dollars in the first nine months of 2008, with a 69 percent rise over the same period of 2007,' Unakitan was quoted assaying during a meeting of a joint economic committee between Turkey and Saudi Arabia. Unakitan said the year-end bilateral trade volume would be around 5 billion dollars and expressed determination to raise the figure to 15 billion in five years. 'It is important to boost cooperation and increase trade between our two countries,'.. ..'The opening the Istanbul-Mecca railway in the near future would definitely improve trade relations between Turkey and Saudi Arabia,'.." [more]

Over 100 Foreign Firms Want to Invest in Saudi Real Estate [Nov 25]
"More than 100 foreign companies have expressed interest in investing in the Kingdom's real estate business, said Blair Hagkull, managing director of Jones Lang LaSalle for Middle East and North Africa, at the formal launch of its offices in Riyadh and Jeddah yesterday. 'A large clientele of investors from Malaysia, Asia, China, Singapore and North America is interested in the Kingdom's real estate business since Saudi Arabia is the fastest growing market in the world,'.. ..He indicated that one of the main drivers of both the economy and the real estate market is the size and rapid growth in population. 'Saudi Arabia has been the world's fastest growing large country in terms of population over the past 10 years. As a result, Saudi Arabia has a very young demographic profile with around 45 percent of the population currently aged below 20 years. This young age profile and the rapid rate of urbanization (growth of the major cities) have been the major demographic factors driving the real estate market.'.." [more]

Saudi Shares Surge as Other Gulf Marts Fall [Nov 25]
"The Saudi stock market surged on Monday but other markets in the Gulf fell.. ..The Saudi Tadawul All-Shares Index (TASI) gained 6.2 percent to close at 4,529.19 points, following two days of massive losses, on reports that some funds run by government institutions began buying shares. The market also reacted to a decision on Sunday to cut the repo rate by one percentage point to three percent and to reduce mandatory reserves that banks must hold from 10 percent to seven percent, thus freeing extra cash for lending. The TASI, which remains down 59 percent on the year, was solidly spurred by the leading banking and petrochemicals sectors, which rose 7.1 percent and 7.6 percent, respectively. Many blue chips on the market made strong gains. Market leader SABIC rose 8.4 percent.." [more]

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

Abdullah Meets With Blair in Jeddah [Nov 24]
"Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with Tony Blair, former British prime minister and special envoy of the Quartet to the Middle East. 'King Abdullah and Blair discussed the latest developments in the Palestinian issue and the stalled Middle East peace process,' the Saudi Press Agency said. King Abdullah arrived here on Saturday night from the Moroccan city of Casablanca and was received at the airport by Crown Prince Sultan, senior princes and high-ranking officials.." [more]

Difficult Road Ahead for Middle East Peace [Nov 24]
"..Palestinian President Mahmoud Abbas said yesterday that any promise of peace agreements are false. 'So far we have not reached agreement on a single question - every issue remains up for discussion,' Abbas told the PLO Central Council on Sunday.. ..President-elect Obama might bring more credibility to the on-going peace initiatives, but it is very likely that he will be met with insurmountable challenges such as a divided Palestinian government, the rise of ultra-orthodox colonist violence and extremist Palestinian groups. Despite the challenges, Obama recently telephoned President Abbas to pledge his commitment to pushing forward with the negotiations which many analysts view as a good sign that an Israeli-Palestinian peace process will be a top priority for the new US President.." [more]

Saudi Businesswomen to Buy into King Abdullah Economic City [Nov 24]
"Some 75 Saudi businesswomen gathered Sunday at the Aziza Mansour Limited Company for Property, the first all-women investment company in Saudi Arabia, to discuss plans to buy into the King Abdullah Economic City in Thwal.“We organized this meeting to persuade businesswomen to take the risk and own a project there,” said Aziza Mansour, the company owner. According to Mansour, about eight towers had been finished in the economic city as well as the university itself. She said the businesswomen were there with the intention of owning one of the apartments in the towers near the beach at a special discount.. ..Saudi women can move freely in this city where it has special security procedures. Life in this city will be like Europe’s where the women will live without any restrictions,” Said Mansour. The participation of women in the economic city will help a lot in attracting foreign investment.." [more]

Cabinet Panel Studying Law to Combat Terror [Nov 24]
"The Experts Committee in the Council of Ministers is currently studying a draft law to punish those involved in terrorism and other criminal activities that undermine the country’s security. An informed source said other government agencies have already completed studies of the law entitled 'Punishment for terrorist acts, state-security crimes and organized crimes.' The source said the law would be approved soon. The discussion on the draft law comes at a time when a security court in Riyadh is looking into the files of 991 suspects who were involved in terrorist operations across the Kingdom since May 2003. The source emphasized the need for such a law after the Kingdom’s judicial authorities issued different verdicts against people involved in crimes that undermine state security.." [more]

Flowserve Signs Long-Term Strategic Agreement with Oil and Gas Giant Saudi Aramco [Nov 24]
"Flowserve one of the world's leading providers of flow control products and services for the global infrastructure markets including oil and gas, power, chemical water and general industries, today announced it has signed a 10-year strategic supplier agreement with Saudi Aramco, one of the world's largest oil producing companies. The supply agreement includes Flowserve's entire range of flow control products (pumps, valves and seals) and value-added services for use in Saudi Aramco's existing and planned facilities.. ..Flowserve has also supported Saudi Aramco's mechanical seal requirements through its QRC joint venture with S & A Abahsain Co. Ltd, located in Al Khobar, since 1989. The mechanical seal QRC has recently doubled its capacity, and is now being expanded to further optimize customer response.." [more]

As Taboos Ease, Saudi Girl Group Dares to Rock [Nov 24]
"They cannot perform in public. They cannot pose for album cover photographs. Even their jam sessions are secret, for fear of offending the religious authorities in this ultraconservative kingdom. But the members of Saudi Arabia’s first all-girl rock band, the Accolade, are clearly not afraid of taboos. The band’s first single, “Pinocchio,” has become an underground hit here, with hundreds of young Saudis downloading the song from the group’s Web site. Now, the pioneering foursome, all of them college students, want to start playing regular gigs — inside private compounds, of course — and recording an album.. ..In a country where women are not allowed to drive and rarely appear in public without their faces covered, the band is very different. The prospect of female rockers clutching guitars and belting out angry lyrics about a failed relationship — the theme of 'Pinocchio' — would once have been unimaginable here.." [more]

SR3bn Firm to Manage Overseas Farm Projects [Nov 24]
"An SR3 billion public holding company will be established with the participation of private investors to carry out overseas agricultural projects, Agriculture Minister Fahd Balghunaim announced yesterday. Speaking to reporters after opening Saudi Agriculture 2008 exhibition in Riyadh, he said the new company was awaiting Cabinet approval to start its activities.. ..The new company will focus on crops that either cannot be grown in the Kingdom such as rice and sugar, or need plenty of water supplies such as wheat, barley and animal fodder, the minister said. The government said in May it would swiftly provide land for stockpiling basic staples and would increase global investments to ensure long-term food security.." [more]

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

Saudi Crown Prince Off to US for Medical Tests [Nov 23]
"The official Saudi news agency says Crown Prince Sultan has left for the United States to undergo medical tests. The Saudi Press Agency, quoting a royal court statement, says the 84-year-old prince flew from Jiddah to the U.S. on Sunday. It did not provide further details on the tests. Sultan, who is also the kingdom's defense minister, underwent surgery in May 2004 to remove a cyst from his intestines. Sultan is King Abdullah's half brother and one of the most powerful figures in the kingdom. He was appointed defense minister in 1962 and closed multibillion deals to establish the modern Saudi armed forces. He was appointed crown prince in 2005.." [more]

Somali Pirates Move Saudi Tanker as Islamists Warn of Attacks [Nov 23]
"Somali pirates who hijacked a Saudi Arabian supertanker moved the vessel from its location at the port city of Harardhere, after Islamist militias threatened to attack them and rescue the ship, a tribal elder said. The Islamic Courts Union warned the pirates to leave Harardhere, Ali Elmi, a local elder in the town, said in a phone interview today. The tanker was taken out to sea and its destination isn’t clear, he said. Al-Shabaab, a separate Islamist group, also said it would attack the pirates if they don’t free the ship.. ..Al-Shabaab told the pirates holding the Saudi tanker to release it or face armed conflict, Sheikh Abdulaahi Osman, a commander of the group in Harardhere, said by phone today. 'Saudi is a Muslim country and it is very big crime to hold Muslim property,' Osman said. 'I warned again and again those who hold the ship must free it unconditionally or armed conflict should be the solution. If they don’t free the ship, we will rescue it by force.'.." [more]

Saudi Arabia Cuts Interest Rate, Reserve Limits [Nov 23]
"Saudi Arabia’s central bank cut its key interest rate and reduced the level of reserves commercial banks are required to hold, to encourage more lending to companies struggling to find credit. The bank cut the repo rate by 1 percentage point to 3 percent and the reserve requirement to 7 percent from 10 percent, according to its Web site. The measures are aimed at 'ensuring that adequate system liquidity is available to meet steady domestic demand,' it said. The rate cut is Saudi Arabia’s second in a month, and follows similar steps across the Persian Gulf to avert a liquidity crisis as foreign investors pull money out of the region and banks curtailed lending to each other. Saudi companies that previously borrowed abroad are now relying on local banks, which may struggle to maintain lending.." [more]

Ouhoud Al Fahad: First Saudi Female Anchor Debunks Media Stereotypes [Nov 23]
"A school marm she is not. In fact, Ouhoud Al Fahad, the one-time teacher is a strikingly attractive, coquettish, smart, articulate and ambitious brunette who lights up TV screens as a news anchor on a leading Arab satellite channel. Her combative arguments countering a fellow Saudi Islamist on an Al Jazeera talk show of all venues triggered admiration and a job offer to work at the pan-Arab LBC Sat TV station based in Lebanon where she has been writing, reading and reporting the news since 2006.. ..Al Fahad's boss at LBC Sat later told her she had floored the host and his guest and that he admired how she had handled the situation. 'I love my country and I'm able to see what's right and wrong and can criticize to correct mistakes,' she said. 'I appreciate that people are being educated abroad and that Saudi society has changed.'.." [more]

Obama Urged to Back Arab Plan [Nov 23]
"Palestinian President Mahmoud Abbas yesterday urged US President-elect Barack Obama to back an Arab League proposal for comprehensive peace with Israel in return for it quitting all occupied Arab lands. 'We call on President Obama to begin immediately dealing with the peace process based on the relevant UN resolutions and based on the Arab peace initiative,' Abbas said in a speech opening an economic conference in Nablus. 'Instead of living in an island of peace with only Jordan and Egypt, Israel can live in a sea of peace with the Arab world.' Broached in 2002, the Arab League proposal offered Israel normal ties with all Arab states if it quit the West Bank, Gaza Strip, East Jerusalem and Golan Heights — lands captured in a 1967 Middle East war. Egypt and Jordan are currently alone in the 22-member League in having full peace accords with Israel.." [more]

GCC States May Cut Oil Production by 5% in ’09 [Nov 23]
"The impact of the global financial turmoil on the commodity market may force GCC countries to cut oil production by an average 5% in 2009, according to a review by Global Investment House (GIH). GIH has forecast the average oil price to be in the range of $70 to $76.8 per barrel next year. The expected average price for 2009 will be 23.8% lower than those registered in 2008, it said. Based on the current world economic situation, slowdown in large scale manufacturing activities, falling crude oil prices and production cuts will make 2009 a challenging year for the regional economies,” GIH said. The economic crisis has not only shaken the equity markets but also made a significant impact on commodity markets.." [more]

Severe Penalties Mulled to Curb Workplace Harassment [Nov 23]
"Saudi Arabia is planning to impose tougher punishments to prevent harassment of women in work places. A new law calling for a maximum fine of SR100,000 and three years jail will be passed soon by the Shoura Council. A special committee of the 150-member council is discussing the draft law and will present it to the full assembly after Eid Al-Adha. The bill set a minimum fine of SR20,000 and six months in jail for the offense, said Mazen Balilah, the Shoura member who proposed the law. Balilah said the head of the company or organization would be questioned if there were any negligence on his part in preventing harassment in his organization. According to Article One, the accuser should produce evidence to support the charges and the accused will have the right to defend himself by all means.." [more]

Venezuela Calls for Million-Barrel OPEC Cut This Year [Nov 23]
"-- Venezuela will call on the Organization of Petroleum Exporting Countries to reduce oil output by 1 million barrels before year-end, Energy and Oil Minister Rafael Ramirez said. The country, which pumps about 11 percent of the oil produced by the exporters’ cartel, also wants to ensure that all members are complying with the production cut of 1.5 million barrels a day that they agreed to Oct. 24, Ramirez said today in Caracas. Venezuela will propose the additional reduction at a Nov. 29 meeting in Cairo that OPEC scheduled as oil prices declined. It is smaller than the 1.5 million barrels that Abu Dhabi said would be needed to keep oil prices high enough to support oilfield investment.." [more]

November 16-November 22, 2008

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

Somali Islamists Condemn Pirates Behind Seizure of Saudi Tanker [Nov 22]
"Somali Islamists will take action against pirates responsible for the “major crime” of seizing an oil-laden Saudi supertanker. The Sirius Star, which belongs to Saudi Arabia’s state- owned shipping line, Vela International Marine Ltd., is anchored near the town of Harardhere, which is controlled 
by the Islamists.. ..'Hijacking a Muslim ship is a major crime,' Sheikh Abdi Rihin Isse Adow, a spokesman for the Islamists’ militia, said in a telephone interview from an undisclosed location. 'We strongly oppose piracy actions in our waters.' He didn’t specify what action would be taken.. ..The pirates will confront any attempt at military action to free the vessel, Agence France-Presse said, citing Abdiyare Moalim, one of the groups holding the Sirius Star. At least 10 armed men joined the pirates holding the ship, a local resident in Harardhere told AFP. Harardhere is in Somalia’s semi-autonomous northern Puntland region.." [more]

Saudi Shares Plunge 5.4 Percent [Nov 22]
"Saudi shares plunged by 5.42 per cent on Saturday in the first day of weekly trading, led by a sharp slide in the heavily weighted banking and petrochemical sectors. The Tadawul All-Shares Index (TASI) was at 4,615.87 points less than an hour after opening. The slide in the largest Arab bourse, which is the only stock market to operate on Saturday, was led by a 6.08 per cent drop in banks and a 5.87 per cent decline in petrochemicals.. ..TASI ended last week's trading down 11 per cent. It has shed almost 20 per cent in the past two weeks and is 56 per cent lower than last year's close.." [more]

Heroin Addiction Gains Ground in Arab World [Nov 22]
"There are more than half a million heroin addicts in the Arab world, says Prince Turki Bin Talal Bin Abdul Aziz, chairman of the Board of Trustees, Mentor Arabia. 'This figure does not include those addicted to other drugs,' he said, quoting a latest United Nations report on the problem. Prince Turki is championing a de-addiction drive among Arab youth. 'It is unfortunate that we did not have the exact figure of drug addicts in the Arab world. The poor level of awareness is another challenge,'.. ..Prince Turki has been honoured by the Mentor Foundation for his role in establishing its Arab branch Mentor Arabia.. ..Prince Turki said Mentor Arabia, which was founded nearly one and a half years ago, has initiated several plans and programmes in many Arab countries, including Kuwait and Lebanon. 'The organisation will kick start its first five-year plan this year,' he announced. Prince Turki said family problems drive Saudi Arabian youth towards drugs.." [more]

OPEC Supply Cut Reverses Crude’s Course [Nov 22]
"Crude oil rose for the first time in six days Friday as OPEC members cut production and governments stepped up efforts to revive economic growth. The Organization of the Petroleum Exporting Counties will trim supplies by 3.8 percent this month as members implement an October agreement, according to consultant PetroLogistics. The group will meet next week to discuss further reductions. Crude oil for January delivery rose 51 cents to settle at $49.93 a barrel on the New York Mercantile Exchange, the first increase in six days. The contract dropped $7.67, or 13 percent this week. Prices have dropped 66 percent since reaching an intraday record of $147.27 a barrel on July 11. Gasoline for December delivery climbed 5.73 cents to settle at $1.0643 a gallon.." [more]

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

Saudi Arabia to Join NATO Naval Mission [Nov 21]
"Saudi Arabia said it will join a fleet of NATO warships on an anti-piracy mission, as hijackers bolstered defenses around an oil-laden Saudi tanker captured off the East African coast. 'The kingdom will contribute ``naval assets to help in pursuing piracy in the region, and this is the only way this can be dealt with,'' Saudi Foreign Minister Prince Saud al-Faisal told reporters in Oslo today after meeting with his Norwegian counterpart, Jonas Gahr Stoere. ``Negotiations and ransoms only encourage piracy and are not a solution. Al-Faisal didn't provide details of the Saudi contribution to 
the forces in the Gulf of Aden.. ..The seizure of the oil tanker may push Western navies to step up their actions against hijackers, who find potential targets with Global Positioning System navigational aids and satellite phones and use captured fishing trawlers to launch attacks out at sea.." [more]

Saudi Arabia to Build a Mosque in Moscow [Nov 21]
"King of Saudi Arabia has initiated construction of a mosque and Islamic cultural center in Moscow. 'If Russian authorities allocate a parcel of land, then Saudi Arabia will finance the building,' Head of Foreign Department at the Russian Muftis Council Rushan Abbyasov told Interfax-Religion. He went on to say that, the question of building a mosque was discussed in the Moscow meeting of the Chair of the Russian Muftis Council Ravil Gainutdin, with the Saudi Ambassador Ali Hassan Jafar. The interviewee of the agency explained that Saudi Arabia practiced charitable mosque building in various countries, such mosques were built in Washington, Rome and London. According to Abbyasov, once the Moscow mosque is built, it will be transferred under canonical administration of Spiritual Directorate of the Muslims of European Russia.." [more]

Cisco Could Be Helping Saudi Officials Spy on Citizens [Nov 21]
"The issue of whether technology companies help oppressive governments censor or spy on their citizens has floated under the radar for some time. Now comes an investigation into whether Cisco Systems Inc. (CSCO) is helping officials in Saudi Arabia implement Big Brother-like surveillance 
systems. BusinessWeek writer Peter Burrows has spent a lot of time researching and writing about Internet censorship in Saudi Arabia. As part of that research, he found that Cisco could be aiding censors with the deployment of a 250,000-camera system. But Cisco has never 'been caught in 
the act,' Burrows writes. “The closest thing to proof was a PowerPoint presentation crated by a mid-level staffer that suggested Cisco knew the Chinese government intended to use its technology against the Falun Gong, which led to a Congressional hearing on the topic.. ..The question of how America and other democracies might be contributing to oppression and censorship through technology is not a popular one.." [more]

Energy Industry Headed for a Bigger Crisis, it Seems [Nov 21]
"Oil markets are facing a major slump — for a number of reasons — and continue to stream further down. As I write these lines, prices are already in the vicinity of $50 a barrel. Rather than seeking a ceiling, crude markets now appear looking for a floor — somewhere — at respectable levels. What a transition indeed. And indeed this transformation is not without ramifications, of considerable magnitude, one can easily deduce. Crude markets have entered a phase where, due to low prices, the incentive to invest in the industry is getting less and less. And if the trend continues, as some are arguing today, another round of price spiral may not be far off. The emerging scenario may not only be disastrous for the industry, but indeed for the overall global energy balance too — a real cause of concern indeed. We need to wake up to the consequences now — and not later.. ..Demand for oil and crude prices may be falling with the economic slowdown, but that could well lead to a supply-side crunch in the next year or so, and that will push oil prices higher again. And that is the big challenge. The industry needs to be prepared for tomorrow, even in these uncertain times.." [more]

Crude Oil Rises on Reported OPEC Supply Cut [Nov 21]
"Crude oil rose for the first time in six days as OPEC members cut production and governments step up efforts to revive economic growth. The Organization of Petroleum Exporting Counties will trim supplies by 3.8 percent this month as members implement an October agreement, according to consultant PetroLogistics Ltd. The group will meet next week to discuss further reductions. The Bank of Japan said today it will consider pumping more money into the financial system.. ..Thirteen OPEC members, due to meet in Cairo eight days from now, are set to supply 30.98 million barrels a day this month compared with 32.2 million a day in October.." [more]

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

Somali Pirates Demand $US25m Ransom for Saudi Tanker [Nov 20]
"The pirates who hijacked the fully laden Saudi oil supertanker Sirius Star have demanded $US 25 million ($39.3million) in ransom and have set a 10-day deadline. Details of the ransom, revealed by one of the pirates last night, came after the owners of the hijacked supertanker opened negotiations and amid international anger over piracy off the coast of Somalia grew. The International Maritime Bureau yesterday described the situation as "out of control", and shipping groups said the sinking of a pirate 'mother ship' on Wednesday would not curtail piracy.. ..Saudi Arabia's Foreign Minister, Prince Saud al-Faisal, said countries avoided negotiating with terrorists or hijackers but the final decision rested with the owners of the ship. 'I know that the owners of the tanker, they are negotiating on the issue,' the prince said in Rome. The company that operates the Sirius Star has remained tight-lipped about a ransom, citing the safety of the crew.." [more]

Saudi Prince Increasing Stake in Citigroup [Nov 20]
"Saudi Prince Alwaleed bin Talal says he plans to increase his stake in Citigroup to 5 percent. Prince Alwaleed, who currently holds less than a 4 percent stake, has been buying shares of Citi believing they are undervalued and that the New York-based bank has been taking necessary steps to 
improve its operations amid the ongoing credit crisis. Prince Alwaleed also provides full support for Citi's chief executive, Vikram Pandit.. ..Earlier this week it said it plans to cut an additional 53,000 jobs on top of 22,000 cuts previously announced. Shares of Citi hit a 15-year low Wednesday.." [more]

Anti-Piracy Study to Protect Saudi Ships [Nov 20]
"A Border Guards official has said that a security study is being carried out on Saudi oil tankers and commercial ships working in international waters. The study comes amid continued concern over the Sirius Star oil tanker hijacked by Somali pirates and currently anchored off the Somali coast. The official said the main priority was to secure the safe release of the Sirius Star and its crew, and that while there were no immediate plans for a military-style rescue operation he refused to rule it out as an option for the future. A Transport and Marine Services Committee member said a prolonged hijacking of the tanker could affect the price of goods in the Kingdom. Yousuf Al-Turki said that ships crossing the area where the tanker was hijacked may be forced to contact the Coast Guard in countries near the location for protection, a move which would 'cause a large rise in transport expenses for importers, and, of course, be reflected in the price of commodities entering the country’s markets'.." [more]

$3.5Bn Saudi Gold Buy [Nov 20]
"HCS Worldwide sources suggest that unprecedented buying of gold by Saudi Arabian investors is evidence of the growing deterioration of faith in the value of the US dollar. A report in a leading golf newspaper, citing local resources, said that investors saw the price of gold as particularly attractive. One of the HCS Worldwide sources suggested that the large volume of purchases could fuel speculation about large transactions that have been taking place at well above the price being quoted on the COMEX futures market. Anecdotal evidence suggests that gold is fetching close to $1000 on internet auction site, Ebay.." [more]

Half a Century of Oil Price Volatility [Nov 20]
"OPEC meets in Cairo on Nov. 29 in an attempt to stem a collapse in oil that has knocked two thirds off the price in just four months. Oil ministers face an uphill task trying to tame a commodity that has seen a roller-coaster ride from about $2 a barrel in the 1960s to a peak above $147 in July to a low of almost $50 this month. Suppliers of about 40 percent of the world's oil, the 12 members of the Organization of the Petroleum Exporting Countries meet regularly to discuss the market and sometimes adjust supplies by a few million barrels per day (bpd). Following is a chronology of 
major events in the oil market since OPEC was founded almost 50 years ago.." [more]

Women’s Sections Open in Factories [Nov 20]
"The Ministry of Labor has permitted 40 factories and companies in the Eastern Province to open women’s sections in which Saudi women can be employed. The companies include meat factories, marine companies and general contracting firms. Muhammad Al-Hamdan, Director of the Labor Office in the province, said the companies had appointed more than 1,500 Saudi women with salaries of up to SR3,000 and contracts meeting Saudi labor system regulations. Al-Hamdan said the office had appealed to all companies in need of labor to open women’s sections and that they had shown a positive response.." [more]

Exclusive China Market Planned for Riyadh [Nov 20]
"A SR300 million China Mart is soon to be established in Riyadh to display Chinese products ranging from furniture to ceramics. The market will be the first of a number of projects to be implemented by the newly established “Chinese Competition Spirit” company — a Saudi-Chinese joint venture established by Saudi businessman Sheikh Abdul Aziz Al-Kridis and his Chinese counterpart Wei Shiming. Chinese Ambassador to the Kingdom Yang Honglin described the project as a reflection of the economic importance of Saudi Arabia, which is China’s largest trade partner in West Asia. He expects the volume of trade between Riyadh and Beijing to rise to more than $40 billion by the end of the current year.. ..Shiming, CEO of the company, said the company is looking forward to executing a number of projects in the Kingdom including an office tower and a residential city in Riyadh.." [more]

Nomination Of Saudi Female Ambassador To World Peace [Nov 20]
"Al-Joharah bint Khalid bin Ahmed Al-Sudairy, the Wife of Saudi Charge D'affaires to Egypt Ambassador Ahmed bin Mohammed Al-Sudairy, has been nominated by the Federal Union for Peace in the Middle East for the post of ambassador of world peace. Saudi Press Agency (SPA) reported Thursday that A-Joharah will serve as a representative of the Union in all the international community to promote a culture of peace in the world. In a letter of nomination, the Union expressed its appreciation of the activity of Al-Joharah in support of civil society organisations for the most needy classes. The inauguration ceremony will be held at the United Nations Headquarters in Stockholm in December.." [more]

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

After Hijacking, Saudi Foreign Minister Says Nation Will Join Anti-Piracy Efforts [Nov 19]
"Saudi Arabia's foreign minister on Tuesday condemned the hijacking of a Saudi supertanker carrying $100 million in crude oil, calling piracy 'a disease that has to be eradicated.'.. .. Saudi Foreign Minister Saud al-Faisal said his country would join international efforts to battle piracy, which has surged to levels unseen in modern times. 'This outrageous act by the pirates, I think, will only reinforce the resolve of the countries of the Red Sea and internationally to fight piracy,' Saud said during a visit to Athens.. ..Last month, the U.N. Security Council unanimously approved resolutions calling on nations to send naval ships and military aircraft to Somalia's coastline and allowing foreign powers to enter Somali waters to fight piracy. 'This is an initiative in which we are going to join, and so are many other countries of the Red Sea,' Saud said without elaborating.." [more]

Saudi Consumer Goods Prices to Fall 30pc [Nov 19]
"Prices of consumer goods including foodstuffs in the kingdom are expected to fall by 30 per cent in about three months as a result of a worldwide recession and the fall in oil prices. Yousuf Al Qafari, CEO of Abdullah Al Othaim Markets Company, has been reported as saying by the Arabic daily Al Riyadh that he expected prices of all commodities, including rice, would go down by 30 per cent. He said in an analysis that prices of goods imported from Europe, Australia and other parts of the world would decline because of rising exchange rate of the US dollar. The currencies of Saudi Arabia and other Gulf Cooperation Council (GCC) countries, except Kuwait, are pegged to the US dollar. 'We'll see substantial reductions in prices within the next three months,' Al Qafari said and attributed the fall in prices to a reduction in the cost of transportation and insurance as a result of a decline in oil prices.." [more]

Saudi Arabia Retail Food Sector Annual Update 2008 [Nov 19]
"Saudi Arabia is a $7 billion import market for food and agricultural products. Saudi imports of consumer-oriented products are growing approximately five percent annually and are now estimated at $3.5 billion. In 2007, U.S. agricultural exports increased 63 percent over a year earlier to about $727 million. U.S. exports of consumer-oriented food products to Saudi Arabia reached a record $171 million in 2007, an increase of 11 percent from 2006.. ..In December 2005, Saudi Arabia became a member of the WTO; it agreed to ease trade restrictions and improve trade and investment opportunities in an effort to diversify its economy. Saudi Arabia is a member of the Gulf Cooperation Council (GCC), which also includes Kuwait, Qatar, Bahrain, the United Arab Emirates and Oman. Membership confers special trade and investment privileges to member countries. Processed food products manufactured in any of these countries can be exported to other GCC countries duty-free. In January 2003, the GCC formally instituted its Customs Union.." [more]

Saudi Owners Talking to Pirates [Nov 19]
"The owners of a Saudi Arabian oil tanker hijacked by Somali pirates are negotiating a possible ransom, the Saudi foreign minister has said. The Sirius Star is the biggest tanker ever hijacked, carrying a cargo of two million barrels of Saudi oil - worth more than $100m (£67m). Saudi's Prince Saud al-Faisal did not confirm whether a ransom was likely to be agreed, but said talks had begun. Meanwhile, the Indian navy says it has sunk a suspected pirate 'mother ship'.. ..Asked whether a ransom was being negotiated, the Saudi foreign minister said the decision rested with the owners of the tanker. 'We do not like to negotiate with either terrorists or hijackers. But the owners of the tanker, they are the final arbiters of what happens there,' Prince Saud al-Faisal said.." [more]

King to Host Meet on Islam in Non-Muslim World on Dec. 1 [Nov 19]
"The ninth Makkah Conference, entitled 'Introducing Islam to non-Islamic countries – Reality and Aspirations' is scheduled to begin in Makkah on Dec 1. The three-day conference, to be hosted by King Abdullah.. ..Dr. Ahamd Bin Nafi Al-Murai, head of the Conference Academic Committee, said that participants in the conference would tackle misconceptions about Islam and depict the true image of the Islamic principles of tolerance and moderation, and also explain the relationship of the Islamic religion with other religions, SPA said on Tuesday. Al-Murai praised the Kingdom’s efforts to explain the genuine principles of Islam in the Interfaith Dialogue initiated by King Abdullah.. ..The conference will be the ninth since the late King Abdul Aziz first held the Makkah Conference in 1923 to discuss the situation of Islamic minorities in the world.." [more]

World’s Biggest BMW Service Center Opens in Kingdom [Nov 19]
"BMW Group has unveiled the world’s biggest and most technologically-advanced BMW service facility in Jeddah on Tuesday. Mohamed Yousuf Naghi Motors, the exclusive importer of BMW, MINI and Rolls-Royce in Saudi Arabia, invested SR150 million to put up the state-of-the-art service facility as a further demonstration of its strong commitment to its customers in the Kingdom and BMW Group. The official customer launch and start of operation is scheduled for Saturday. The biggest standalone service center covers a total area of 40,500 square meters (the equivalent size of five football pitches), and houses a hi-tech workshop - including 66 mechanical work bays - a body shop with 22 work bays and paint shop with 16 work bays and the latest paint mix system and technology, a national parts distribution centre and an extensive training centre with the latest online and practical exercise equipment.." [more]

TASI Plunges Below 5,000-Point Mark [Nov 19]
"The Saudi stock market fell again yesterday after making slight increases in the past two days. The Tadawul All-Share Index (TASI) dived 3.93 percent to 4,969.96 points, its first close below the 5,000-point mark in 55 months. The market was again pulled down by the leading petrochemicals and banking sectors, which dropped 7.71 percent and 3.47 percent, respectively. Market leader Saudi Basic Industries Corp. (SABIC) plummeted 9.8 percent to close at SR50.50. SABIC has lost almost half of its value in the past three weeks. The TASI is now 54.98 percent down on the year. Out of 125 stocks traded, 110 companies were in the red, while only 11 companies showed positive performance. The value of traded shares reached SR4.34 billion yesterday.." [more]

Saudi Prince Wants Faster Political, Economic Reform [Nov 19]
"..King Abdullah has tried to open the once-closed desert country up since the Sept. 11, 2001, attacks increased Western criticism of the Islamic state, where the royal family rules in alliance with puritanical clerics.. ..Prince Talal bin Abdul-Aziz, a son of the kingdom's founder, led an abortive attempt to transform the country into a democratic state in the 1960s. In recent years he has expressed support for the reforms enacted by the king, his half-brother. 'There are some measures that are moving at a slow pace and they must be speeded up,'.. ..'(The king) has made good efforts with regards to the social issues that relate to medicine, education and services. There are some accomplishments but more of these efforts are needed to to complete the picture.'.. ..Prince Talal, father of billionaire businessman Prince Alwaleed, said the king's "calm" approach had won over some royals.." [more]

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

Somali Official Vows to Rescue Hijacked Supertanker [Nov 18]
"A Somali official vowed to rescue a Saudi oil supertanker seized in a bold hijacking by pirates, saying he will 'use force if necessary.' Abdullkadir Musa is the deputy sea port minister in northern Somalia's Puntland region, which is a hotspot for piracy. He says that if the ship anchors anywhere near Eyl — where the U.S. says it's heading — then his forces will rescue it. The owners of the ship, which was hijacked over the weekend, grappled with how to respond Tuesday, as naval forces patrolling the region said they would not intervene to stop or free the captured vessel.. ..Admiral Michael Mullen, the U.S.' top military officer in the region said he was "stunned" by the reach of the Somali pirates.. ..NATO said Tuesday it had no immediate plans to intercept the hijacked Saudi supertanker.." [more]

Egypt Takes Doctors' Issue to UN Agency [Nov 18]
"An Egyptian rights group has lodged a complaint at the UN against Saudi Arabia over the extreme punishment meted out to two Egyptian doctors for allegedly getting the wife of a Saudi prince addicted to morphine during the course of medical treatment, the group's officials said on Monday. 'The families of the two doctors have authorised us to file the complaint against the Saudi authorities for insisting on enforcing the penalty against them though it does not comply with the Sharia or the law,'.. ..Last month, a Saudi Islamic court sentenced Egyptian doctors Raouf Al Arabi and Shawki Abd Rabuh to 15 years in prison and 1,500 lashes each for inducing a drug addiction in a Saudi prince's wife while she was under their treatment. The court also convicted them of dealing in addictive drugs. The verdict drew angry reactions from human rights groups and the media in Egypt, who accused Saudi authorities of unfairly targeting Egyptians workers.." [more]

Saudi May Delay Oil Expansion Projects as Prices Fall [Nov 18]
"Saudi Arabia, the world’s largest oil exporter, is reviewing its oil expansion projects and may delay some plans to boost output as prices fall, said an official from the country’s state-owned oil company. 'We’re currently reviewing our investment plan and the schedules for our projects,' Hasan al-Zahrani, general manager of project management at Saudi Arabian Oil Co (Saudi Aramco), said yesterday. 'Once the review is complete we’ll decide what projects we need to defer, or speed up.' Oil companies such as Aramco are reviewing projects and delaying project tenders to take advantage of falling prices for equipment and raw materials such as steel and cement to reduce overall cost as the world financial crisis is slowing global demand, in turn subduing prices. At the same time, multibillion-dollar developments to drill for oil and gas to stem natural depletion and boost output are being threatened by a slump in oil revenues for producers as crude prices have fallen about 62% in four months.." [more]

Global Oil, Gas Conference Opens [Nov 18]
"Prince Muhammad Bin Fahd Bin Abdul Aziz, Emir of Eastern Province, inaugurated here Monday the Saudi Arabia International Oil & Gas Exhibition and Conference (SAOGE 2008) at Dhahran International Exhibitions Company (DIEC). The Emir said the exhibition and conference highlight the important role of the Kingdom in the global oil and gas industry. Over 180 local, regional and international exhibitors from 30 countries are participating in the three-day exhibition, while 40 international speakers will present over 60 papers that discuss and address the various aspects of the petroleum business. Attending the events are government officials from the Gulf region and executives and managers of oil and gas companies in the Mideast, Europe, Asia and North America.. ..The participating companies are from Saudi Arabia, led by Saudi Aramco and SABIC affiliates, GCC countries, Europe, USA, the Mideast and Asia. The biggest national delegation is from China with about 30 Chinese companies engaged in oil exploration.." [more]

Rice Traders Freeze New Imports [Nov 18]
"Rice traders and importers in the Kingdom have decided to freeze all new imports of rice in attempts to bring down prices of the produce from exporting countries. With some higher quality brands of rice reaching prices of up to SR4,000 per ton, traders hope to stabilize the price at the same level as last month when global prices registered a significant fall. The move intends to test the waters and make Indian exporters reconsider prices to the Kingdom, one of the major rice importers.. ..According to the latest Ministry of Commerce report, the Kingdom imports 2 percent of total Indian rice produce, an estimated 4 million tons. The Ministry of Finance has started paying rice traders in the Kingdom subsidies which the government hopes will help lower rice prices for consumers.." [more]

Companies to Run GACA Investment Units [Nov 18]
"As part of moves to privatize the Kingdom’s civil aviation sector, the Council of Ministers yesterday gave the green light to the General Authority of Civil Aviation (GACA) to establish companies for running its investment units. 'The GACA will be licensed to set up the companies, either with full ownership or with the participation of private investors,' said a statement carried by the Saudi Press Agency after the weekly Cabinet meeting in Riyadh. The Cabinet decision comes ahead of the signing of contracts in Riyadh today with international companies for the commercial operations of Jeddah, Riyadh and Dammam airports. German company Fraport won the contracts to manage King Abdulaziz International Airport in Jeddah and King Khaled International Airport in Riyadh, while Shanghai International Airport Company won the contract for Dammam’s King Fahd International Airport.." [more]

New Saudi Recruitment Rules Announced [Nov 18]
"Saudi Arabia’s National Commission for Recruitment (NCR) said it would allow the entry of workers from Indonesia and the Philippines on a new consolidated contract beginning on January 1. The NCR, a subsidiary of the Riyadh-based Council of Saudi Chambers of Commerce and Industry, postponed the date of the implementation of the new contract regulations because it had noticed some labor supply agents in Indonesia resorting to swindling and forgery of documents related to worker recruitment.. ..According to the new provisions, the workers should be of good health and should undergo training, and will get higher wages and more time off.." [more]

Yemen, Saudi Arabia Discuss Youth Cooperation [Nov 18]
"Prime Minister Ali Mujawar and deputy President of Saudi Youth Welfare prince Nawaf bin Faisal bin Fahd bin Abdul-Aziz discussed Tuesday cooperation relations between the two countries in field of sports and youth. In the meeting, Mujawar affirmed depth and unique mutual relations between Yemen and Kingdom of Saudi Arabia, highlighting great support provided by kingdom.. ..For his part, the Saudi official affirmed readiness of the Saudi government to provide all forms of support and cooperation to help Yemen succeed in hosting Gulf Football Champion Ship 20 early of 2011, saying that any Saudi support to sport and development fields in Yemen is duty towards brotherly and dear country. He indicated keenness of the two country's leaderships on improving unique mutual relations between the kingdom and Yemen, noting that the memo of understanding to be signed today for carrying out youth and sport projects would contribute to these unique relations.." [more]

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

Pirates Capture Saudi Oil Tanker [Nov 17]
"Pirates have taken control of a Saudi-owned oil tanker in the Indian Ocean off the Kenyan coast, the US Navy says. The tanker was seized 450 nautical miles south-east of the port of Mombasa, a US Navy spokesman said. Twenty five crew are said to be on board, including members from Croatia, the UK, the Philippines, Poland and Saudi Arabia. A BBC correspondent in Mombasa reports that this is the third tanker to have been hijacked by Somali pirates. It is also the largest vessel so far to come under attack by pirates in the area, the US Navy told the BBC. The location is unusual and the capture marks a fundamental shift in tactics, the navy added.. ..Figures from the International Maritime Bureau show that attacks in the area - the Gulf of Aden and the Indian Ocean off the African coast - have made up one-third of all piracy incidents worldwide in 2008.." [more]

Saudi $400 bln Plan Seen Providing No New Money [Nov 17]
"Saudi Arabian markets rose after the kingdom's ruler unveiled a $400 billion development and investment programme on Saturday, but officials and banking sources played down the plan, saying it is not new money. The Saudi bourse, the Arab world's largest, was higher on Sunday and Monday after King Abdullah told leaders of the Group of 20 nations in a speech on Saturday that he expects 'investment by the public and the state-controlled oil sector to exceed $400 billion over the next five years'.. ..But a government source said nearly all the funds have already been budgeted over the past three to four years.. ..'The king wanted to re-assure global markets that the crisis will not stop us from pushing forward with our development plans.'.." [more]

Gulf Countries Becoming New Power Brokers [Nov 17]
"The economies in the Gulf are not immune to the global financial crisis, but they are emerging as the new 'power brokers' of world finance due to their massive and growing fortunes, a top official of McKinsey and Company said on Sunday. Local leaders, however, need to be more flexible and 
adaptive, and the region has to broaden its economic base to maintain its global competitive edge.. ..The wealth of the Gulf region is founded on its oil reserves and it could be further propelled by the diversification of its economy for long-term success. 'The growing power of Gulf states has become a central factor in the geo-political and economic landscape,'.." [more]

Saudi Bank Credit Growth Poised for Slowdown Amid Global Crisis [Nov 17]
"Credit growth in Saudi Arabia, which tripled in the last year, was likely to slow down, a top central banker said yesterday, as private investors rethink borrowing plans during the global financial crisis. Still, Saudi Arabia’s non-oil private sector would grow in 2009, on par with this year, as the kingdom pushes ahead with major expansion plans, Mohamed al-Jasser, vice governor of the Saudi Arabian Monetary Agency, said. Credit growth of 37% in the first nine months of the year compared to just 12 or 13% in the prior-year period.. ..While growth of the oil sector could decline as Opec slashes output, the non-oil private sector would expand 6% this year and “hover close to that” in 2009, Jasser said. The world’s top oil exporter has been investing windfall revenues from six years of high oil prices into diversifying its economy. Oil prices have lost more than half their value since hitting a peak above $147 a barrel in July.." [more]

No More Cash for IMF [Nov 17]
"Saudi Arabia has no plans to contribute extra funds to the International Monetary Fund (IMF) or any other institution, Finance Minister Ibrahim Al-Assaf said Saturday. 'There is no specific emergency fund for the IMF or any other institution,' Al-Assaf said in an interview on the sidelines of the Group of 20 summit. British Prime Minister Gordon Brown said earlier this month during a visit to the Kingdom, the world’s largest oil exporter, that Saudi Arabia should contribute more to the IMF to bolster funds to help emerging markets ward off the worst effects of the global financial crisis. Al-Assaf said Brown had suggested during his visit that Gulf countries and China, which hold large foreign exchange reserves, should all contribute more. 'This is his opinion. This is not our opinion. We are not going to pay more or less than others. We have been playing our role responsibly and we will continue to play our role, but we are not going to finance the institutions just because we have large reserves,'.." [more]

Saudi-US Trade Set for a Boost [Nov 17]
"The leader of the visiting US trade team is hopeful that bilateral trade between the Kingdom and the United States will greatly improve under the leadership of Barack Obama who is to become the country’s president on Jan. 20. 'We hope that there will be enhanced trade activities between the 
two countries under the new administration led by Obama,' Mark C.Myrick, leader of the trade team from the State of Virginia.. ..Myrick who is leading a 20 member team from 13 Virginian companies, was speaking at the luncheon hosted in his honor by the US-Saudi Arabian Business Council at the Equestrian Club yesterday.." [more]

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

Saudi King: $400 Billion Investment in Oil Sector [Nov 16]
"Saudi King Abdullah says he expects a government investment program in oil and other sectors to total more than $400 billion over the next five years. The king says the spending is targeted at helping shore up the region's economy in the face of the global financial crisis. He spoke about the investment Saturday during the emergency economic summit in Washington, where he was among leaders from nearly two dozen countries.. ..Abdullah pledged in his remarks to work with other nations to 'ensure the recovery and growth of the global economy.' He also warned that the Middle East was not immune to the effects of the crisis.." [more]

Barack Obama Links Israel Peace Plan to 1967 Borders Deal [Nov 16]
"Barack Obama is to pursue an ambitious peace plan in the Middle East involving the recognition of Israel by the Arab world in exchange for its withdrawal to pre-1967 borders, according to sources close to America’s president-elect. Obama intends to throw his support behind a 2002 Saudi peace initiative endorsed by the Arab League and backed by Tzipi Livni, the Israeli foreign minister and leader of the ruling Kadima party. The proposal gives Israel an effective veto on the return of Arab refugees expelled in 1948 while requiring it to restore the Golan Heights to Syria and allow the Palestinians to establish a state capital in east Jerusalem. On a visit to the Middle East last July, the president-elect said privately it would be 'crazy' for Israel to refuse a deal that could 'give them peace with the Muslim world', according to a senior Obama adviser.." [more]

Russia's Navy Repels Pirate Attack on Saudi Ship [Nov 16]
"Russia's navy says one of its frigates has repelled a pirate attack on a Saudi ship in the Gulf of Aden. The navy says the guided-missile frigate was guarding three cargo ships when it received a distress signal from the Saudi ship Rabih on Saturday. Russian navy spokesman Capt. Igor Dygalo says today the frigate sailed immediately toward the Rabih, which had been approached by several speedboats with pirates on board. He says the frigate sent up a helicopter and the attack was repelled. Somalia, which has had no functioning government since 1991, is the world's top piracy hotspot.." [more]

Bahrain, Saudi to Study Bigger Oil Pipeline [Nov 16]
"Bahrain and neighbour Saudi Arabia will look into expanding an oil pipeline connecting the two countries, a senior Bahraini official said in remarks published on Sunday. The countries plan to expand the oil pipeline capacity to 350,000 barrels per day (bpd) from 235,000 bpd, Bahrain Petroleum Company (Bapco) Chief Executive Abdulkarim al-Sayed told local newspaper Al Watan. The project was likely to cost between $300 million and $350 million, Sayed said. The company contracted to study the proposal will advise on the project and prepare a preliminary engineering report on the route of the pipeline and its size.. ..The expansion depends on obtaining increased supplies from Saudi Arabia through the pipeline.." [more]

Obama Aide Apologizes to US-Arabs [Nov 16]
"President-elect Barack Obama's White House chief-of-staff Rahm Emanuel has apologised to the US-Arab community for remarks made by his father. Benjamin Emanuel told an Israeli newspaper that his son, who is Jewish, would 'obviously influence the president to be pro-Israel'. He also referred to Arabs in a way which a leading Arab-American group called an 'unacceptable smear'. A spokesman for Rahm Emanuel said he had called the group to apologise. Mr Emanuel also offered to meet members of the American-Arab Anti-Discrimination Committee.. ..Some Middle East commentators have voiced concern about the appointment of Mr Emanuel, who has a pro-Israel record. However, the congressman himself dismissed the idea and said that Mr Obama did not need his influence to 'orientate his policy toward Israel'.." [more]

Saudi Stocks Drop to Lowest Since March ’04 [Nov 16]
"Saudi stocks fell sharply yesterday, ending at their lowest level since March 2004, with blue-chips Saudi Basic Industries Corp (Sabic) and al-Rajhi Bank closing almost limit down. The all-share index lost 7.4% to end at 5,079 points, its lowest closing level since late March 2004, according to data from the bourse website. Investor fears over the health of the global economy were stoked by data that showed the eurozone was entering a recession, said Abdulhamid al-Amri a member of the Saudi Economic Association think tank.. ..Gulf markets have lost at least 25% of their value this year as the downturn in global markets discourages investors.." [more]

King Pumps SR2b More Into Student Accounts [Nov 16]
" A whopping SR2 billion will be deposited into the accounts of over 40,000 Saudi students on government scholarship overseas throughout the course of their study following King Abdullah’s order to increase their stipends by 50 percent on Thursday. The King’s order came after his meeting with Saudi students in the US, said Ali Al-Attiya, Supervisor General of administrative and financial affairs at the Ministry of Higher Education Saturday. Effective immediately, the King’s order comes to help students cope with the rising cost of living.. ..With the 50 percent raise of the basic amount, Saudi students in the US will receive a monthly stipend of $1,875 each plus health insurance, paid tuitions, and one round-trip ticket once a year to the Kingdom. The stipend increased from $1,230 to $1,349 in 2006.." [more]

Saudi Radio Hosts Talk Show on Education [Nov 16]
"Saudi Radio hosted yesterday members of the US Embassy’s Education Advising Office to speak on topics and programs to be discussed during International Education Week 2008, which begins tomorrow. Karen Bauer, education adviser, and Hannah Draper, vice consul for education, were 
invited on the show to discuss the resources and services they provide. They also provided listeners with details of scheduled events for the week. The week, a joint initiative of the US departments of State and Education, is part of the US efforts to promote programs that prepare Americans for a global environment and attract future leaders from abroad to study in the US. This initiative encourages the participation of individuals and institutions interested in international exchange activities, including schools and colleges, embassies, nongovernmental organizations, businesses and community groups. An information session is to be held at the US Embassy as part of the week to provide prospective students wishing to enroll and pursue undergraduate and graduate degrees in the US with information on how to apply.." [more]

November 9-November 15, 2008

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

Religious Freedom is for Ummah to Decide [Nov 15]
"Saudi Foreign Minister Saud Al-Faisal said Friday that religious freedom in the Kingdom, the land of the Two Holy Mosques, is a decision for the Ummah (Muslim world) to make. 'The Kingdom is the cradle of Islam and a country where millions of Muslims come every year to perform the Haj and the King is the Custodian of the Two Holy Mosques. Thus the Kingdom is responsible for (reflecting) the desire and will of the Ummah worldwide,' Prince Saud said at a press conference here Thursday night with UN Secretary General Ban Ki-moon. The foreign minister was replying to a question on whether, by initiating the world interfaith conference which concluded Thursday at the United Nations General Assembly meant that Saudi Arabia would tolerate the practicing of other religions within its borders.." [more]

Lebanese Majority Leader Defends Saudi Role in Lebanon [Nov 15]
"Lebanese majority leader Saad Hariri said that it was 'intolerant' for some Lebanese leaders to criticize Saudi Arabia's support for Lebanon, local Naharnet website reported Saturday. 'Saudi Arabia has been supporting Lebanon's sovereignty and constitutional institutions,' Hariri said in response to criticism against the oil-rich Gulf Arab state made by Suleiman Franjieh, Christian opposition head of al-Marada party. Saudi Arabia has long been supporting both financially and politically the ruling coalition in Lebanon. Saad Hariri, head of the parliamentary majority bloc in Lebanon, has both Lebanese and Saudi citizenships.. ..Franjieh also said he supports Iran's role in the region, warning that 'if Saudi Arabia pumps money into the forthcoming elections (of Lebanon), this would lead Iran and all our friends to contribute money.'.." [more]

Saudi Stocks Plunge in Week's First Trading Day [Nov 15]
" Saudi share prices fell by nearly three per cent on Saturday, the first trading day of the week. The Tadawul All-Shares Index (TASI) dropped 2.87 per cent to 5,327.81 points, with the key petrochemicals sector down by 2.87 percent and market leader SABIC losing 2.9 per cent of its value.. ..The TASI had finished the week's trading on Wednesday down almost 10 per cent and is 48.6 per cent lower on the year. It fell 25.8 per cent in October.." [more]

Saudi Rights Body Wants Sponsorship System Abolished [Nov 15]
"The Saudi National Human Rights Society renewed its call for abolishing the kingdom's faulty sponsorship system after blaming it for many of the human rights and labour law violations. It also sought the intervention of the Ministry of Labour and the civil aviation authorities to put an end to 
the plight of some 400 workers at the baggage handling section of King Abdul Aziz International Airport in Jeddah. The society made this request after an inspection of the airport premises by its senior officials last Monday.. ..Dr Al Shareef also drew attention to the absence of frequent consular visits by the concerned embassies to the airport to take stock of the situation and try and address the workers' grievances.." [more]

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

Israel's President Praises Saudi King [Nov 14]
"Israel's president had rare praise for Saudi Arabia's king at a UN interfaith conference, saying his initiative to end the Arab-Israeli conflict inspired hope that all countries in the Middle East could live in peace. Speaking to hundreds of influential people in the General Assembly chamber, where Israel has often been attacked and villified by its Arab neighbours, Israel's Shimon Peres appealed to King Abdullah Bin Abdul Aziz of Saudi Arabia to maintain his leadership in the Arab world during the difficult process of achieving a peace settlement.. ..When Peres took the floor, he told delegates that building a new future in the Middle East 'seems more feasible today in light of the Saudi proposal which evolved into an Arab peace initiative'.. ..Then, looking directly at King Abdullah, the Israeli president interrupted his prepared speech. 'Your Majesty, the king of Saudi Arabia,' Peres said. 'I was listening to your message. I wish that your voice will become the prevailing voice of the whole region, of all people. It's right. It's needed. It's promising.'.." [more]

A Grand Internet Vision for Saudi Economic City [Nov 14]
"You can't accuse the people behind King Abdullah Economic City, the vast metropolis rising out of the desolate sands of western Saudi Arabia, of thinking small. Once completed by 2020, the estimated $26 billion project will include a seaport and industrial park that will be among the largest in the world, a huge sports stadium, a university, and a shopping mallnot to mention 260,000 apartments, 56,000 luxury villas, and 120 hotels. And tying it all together will be the best Internet set-up money can buy.. ..For starters, there's the basic Internet bandwidth. Every home and business in the city will get links of least 100 megabits-per-second, on par with world-leading rates available in Japan. But many will have access to up to one gigabit-per-second—roughly 1,000 times faster than the average connection in the U.S. Customers will be able to choose from various plans, up to this maximum. More interesting is what those high-speed connections will carry.." [more]

Egypt Draws Up Saudi Companies Blacklist [Nov 14]
"Egypt has drawn up a blacklist of 26 firms in Saudi Arabia that allegedly abuse its workers, of whom nearly a million work in the conservative Gulf kingdom, press reports said on Friday. The reports come a day after Cairo barred doctors from taking up jobs in Saudi Arabia after an Egyptian medic was sentenced to 1,500 lashes and 15 years in jail for allegedly turning a Saudi princess into a drug addict. 'The manpower and immigration ministry has a blacklist of 26 businesses and private companies in Saudi Arabia with which doing business is absolutely forbidden,' the independent Al-Masri al-Yom newspaper reported. It said the listed companies are accused of 'deliberately mistreating Egyptians,' and added that more firms may be added later.. ..Egypt was angered by the Saudi decision to whip and jail Dr Rauf Amin, 53, for giving an unidentified princess morphine to ease her pain following a riding accident, which allegedly turned her into an addict.." [more]

OPEC Poised for Another Deep Cut to Halt Oil Slide [Nov 14]
"Swelling fuel stocks and a more than $90 drop in the oil price has driven OPEC to call another round of urgent talks that could agree a deep supply cut to try to shore up the market. Since early September, the Organization of the Petroleum Exporting Countries has already agreed to reduce supply by a total of two million barrels per day (bpd). It could announce a further cut of 1.5 million bpd at talks in Cairo at the end of the month, an OPEC delegate said on Friday. 'OPEC needs to cut more rather than less -- probably in the range of 1.5 million,' the delegate told Reuters. 'Demand is going down every day along with the price and we don't want a big stock-build.'.. ..Many OPEC countries use an allocation system, which sets supply levels weeks in advance, but they still have the option of using operational tolerance to add or subtract 10 percent of total volume.Calling a meeting two weeks earlier than one already set for Dec. 17 in Algeria need not make a difference to how quickly supplies are tightened ahead of early next year when a seasonal drop in demand is expected. But frequent meetings can send a signal to the market that OPEC is determined to act as it did after the Asian economic crisis drove prices below $10 a barrel in 1998.." [more]

Saudi Aramco Highlights Its Major Role In World's Economy At GCC Europe EXPO [Nov 14]
" Saudi Aramco participated in the 2008 GCC Europe Expo that took place on November 12 and 13, as part of an exclusive opportunity to highlight its major role in the world’s economy. The event was first of its kind and aimed to facilitate bilateral trade and investment, and forge potentially thousands of new commercial relationships between EU and GCC businesses.. ..Executive Director of Saudi Aramco Affairs, Khaled Al-Buraik, addressed a gala dinner hosted by Saudi Aramco and attended by dignitaries from the GCC, Europe and the UK. Buraik’s speech stressed the importance of strategic alliances or relationships as a means of surviving and thriving in challenging times, and highlighted Saudi Aramco’s 75 years of achievement as a reliable supplier of energy. Buraik said, 'For 75 years, Saudi Aramco has built a reputation on Energy for Generations, including our demonstrated commitment to our European customers. And as we embark on our next 75 years as a corporation, we remain committed to Europe’s access to the stable energy supplies'.." [more]

41% of GCC Expats Would Not Recommend Region [Nov 14]
"The tax-free working environment of the Gulf region is no longer the big draw for expatriates that it used to be, according to the results of an Arabian Business poll. Readers responded in their hundreds after we asked expats currently living in the GCC whether they would still recommend the region to their friends and family as an place to live and work.. ..But factors such as soaring rental costs, especially within the UAE, seem to be making people think twice about making the region their new home. According to our poll, more than 40 percent of respondents would urged their friends and family to stay away while another 32 percent would only recommend the Gulf if they person proposing to come was earning a big salary. The results come as expats living in the UAE are hit by restrictions on credit facilities, problems with ID cards and a crackdown on sharing rental accommodation.." [more]

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

Egypt Bars Doctors From Saudi Over Flogging [Nov 13]
"Egypt on Thursday barred doctors from taking up jobs in Saudi Arabia after an Egyptian medic was sentenced to 1,500 lashes and 15 years in jail for allegedly turning a Saudi princess into a drug addict. Manpower and Immigration Minister Aisha Abdel Hadi has 'stopped issuing work permits to Egyptian doctors in Saudi Arabia until the end of the crisis,' the independent Al-Masry al-Youm newspaper reported. The decision came after talks between the Egyptian consulate and the Saudi Arabian authorities reached a dead-end, the newspaper quoted an unnamed official as saying. No permits will be issued until further notice, it said, but added that Egyptian doctors already in Saudi Arabia can continue working because they have contractual obligations. Doctor Rauf Amin, 53, was sentenced for giving the unidentified princess morphine to ease her pain following a riding accident, which allegedly turned her into an addict. The penalty against Amin, who is being whipped at the rate of 10-15 lashes a week during his prison term, has sparked protests in Egypt.." [more]

U.S. High Court Gets 9/11 Appeal [Nov 13]
"Thousands of victims of the 9/11 attacks appealed to the Supreme Court yesterday, asking it to overturn a lower court decision barring lawsuits against Saudi Arabia for supporting acts of terrorism. The petition contended that U.S. intelligence agencies had unearthed ample evidence of the Saudi Arabia government's providing tens of millions of dollars to Islamist charities that in turn funded Osama bin Laden and his al-Qaeda organization. U.S. government officials had repeatedly warned Saudi officials in the 1990s that government-backed charities were providing money and logistical support to bin Laden, but they failed to do anything about it.. ..The appeal was filed by the Philadelphia law firm of Cozen O'Connor, which is representing dozens of U.S. insurers that paid $5 billion in property damage and other claims stemming from the attacks on the World Trade Center. It seeks to overturn a finding by the U.S. Court of Appeals for the Second Circuit in Manhattan in August that U.S law bars lawsuits against Saudi Arabia for allegedly financing terrorism.." [more]

Women Put Up Spirited Fight in Riyadh Chamber Elections [Nov 13]
"For the first time in the 50-year history of the Riyadh Chamber of Commerce and Industry, women candidates are putting up a tough challenge to their male counterparts in the election to the chamber's 12-member board of directors. There was a heavy turnout for voting at the chamber headquarters on the first day of polling yesterday. Counting of votes will be held today immediately after the polling process ends, in which most of the 41,000 members of the chamber are expected to take part.. ..There are 37 candidates in the fray, including three women. The female candidates are Amal Badr Al Deen, Basma Sa'ad Al Deen and Huda Al Jeraisi. This is for the first time women are contesting the elections to the chamber board since its formation half a century ago. Earlier, women were elected to the board of directors of the chambers in Jeddah and Dammam.." [more]

Difficult to Predict Future US Position on Arab Issues [Nov 13]
"An Arab expert on American issues says it is too early to predict the policies of the US President-elect Barack Obama toward the major issues in the Middle East. 'Obama is a political novice and he does not have experience in tackling ... foreign affairs. Therefore, it is very difficult for us to make predictions about his policies toward major Arab issues, such as Iraq, Palestine, Iran, democracy in the Arab countries and the like,' Alaa Bayumi made these remarks in his recently released book entitled Barack Obama and Arabs, published by the Doha-based Peninsula Studies Centre.. ..According to Alaa Bayumi, the Iraq file would most likely be the first among Washington's policy priorities in the Middle East and it would be followed by Iran's nuclear dossier.. ..At the same time, he says, Obama would embark upon an active diplomatic initiative with many countries in 
the Arab and Muslim world.." [more]

Terrorism Foe of Every Faith: Saudi King [Nov 13]
"World leaders called yesterday for religious tolerance at a UN conference sponsored by Saudi Arabia. The meeting at UN headquarters in New York, gathering 80 countries including some 20 heads of state, was billed as a chance to heal religious and cultural divisions sometimes referred to as the 'clash of civilisations.' Saudi King Abdullah called for 'peace and harmony,' describing terrorism as the enemy 'of every religion and every civilisation.' Throughout history, Abdullah told the forum, conflicts over religious and cultural issues had led to intolerance, 'causing devastating wars and bloodshed.' 'Human beings were created as equals and partners on this planet,' he said. 'Either they live together in peace and harmony or they will inevitably be consumed by the flames of misunderstanding, malice and hatred.'.. ..White House spokeswoman Dana Perino said Bush 'welcomes the opportunity to have this event, and he believes that the king of Saudi Arabia has recognised that they have a long way to go and that he is trying to take some steps to get there.'.." [more]

OPEC States to Meet Nov. 29 in Cairo, says Iran [Nov 13]
"OPEC members will meet in Cairo on Nov. 29 for 'consultation' on the oil market, a senior Iranian oil official told Reuters on Thursday, after oil prices continued their slide. OPEC countries are calling for action to halt oil's slide to around $56 a barrel as they face reduced revenues and a struggle to finance domestic programmes. Oil prices have tumbled from a record level of more than $147 in July. Iran had previously said OPEC could meet before a gathering scheduled for December in Algeria, with some suggesting the meeting could be on Nov. 28 in the Egyptian capital.'It is not an extraordinary OPEC meeting, it is a consultation meeting to discuss market developments'.. ..OPEC President Chakib Khelil said on Wednesday OPEC may cut output again if oil prices fell further and added non-Arab oil producers could be invited to the Organisation of Arab Petroleum Exporting Countries (OAPEC) meeting. OAPEC, which includes Arab states who are also members of OPEC but not non-Arabs like Iran or Venezuela, was due to meet on Nov. 29 in Cairo.." [more]

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

Saudi King to Address Interfaith Dialogue [Nov 12]
"King Abdullah Bin Abdul Aziz of Saudi Arabia will address delegates to the United Nations Interfaith Dialogue Conference in New York on Wednesday to globally promote the importance of religious tolerance.. ..While many hailed the conference, critics say it is a mere public relations stunt for the Kingdom to improve its image after 9/11 exposed the danger of radical Islam to the world. UN General Assembly President Miguel d'Escoto Brockmann has sent invitations to 192 member countries and observers to attend the conference, which it called a 'useful preparatory step' toward an interfaith and intercultural meeting to be held in 2010. King Abdullah will address the session following the UN Secretary-General's keynote speech.." [more]

Egypt Presses Saudi Arabia for Release of Accused Doctors [Nov 12]
"Egyptian human rights groups and professional unions are pressing for the release of two Egyptian doctors convicted by Saudi authorities of causing a Saudi patient to become addicted to morphine. Last month a Saudi Islamic court sentenced Egyptian doctors Rauof Al Arabi and Shawki Abd Rabuh to 15 years in prison and 1,500 lashes each for causing the wife of a Saudi prince to get addicted to the painkiller morphine during medical treatment. The sentencing has drawn angry reaction from Egypt's human rights advocates and media.. ..Egyptian newspapers on Tuesday quoted Egypt's Consul-General Mohammad Al Aashiri in the Saudi city of Jeddah as saying he has lodged a plea with the Saudi authorities to suspend the enforcement of the punishment against the two doctors until a request for their retrial is judged.. ..More than one million Egyptians are believed to be working in Saudi Arabia. Both countries have good political and economic ties. But the penalty has drawn criticism in the Egyptian media.." [more]

Saudi Still to Decide on IMF Funds Offer at G20 Summit [Nov 12]
" Saudi Arabia will join calls for greater oversight of financial markets at a summit in Washington this weekend but has yet to decide whether it will offer the International Monetary Fund money to deal with the credit crisis. A senior government official who declined to be named said Saudi Arabia would join European and developing nations demanding more scrutiny of the financial system. But he declined to say if the kingdom would hand a cheque over to the IMF at the G20 meeting.. ..Saudi Arabia is the IMF's largest Arab shareholder and the only Arab state in the Group of 20, which outgoing U.S. President George W. Bush has called to a summit in Washington on Saturday. The world's largest oil exporter has not publicly said if it will agree to emergency funding for the IMF to help developing economies get over a global credit crunch, and domestic pressures mean Saudi Arabia is likely to impose certain conditions on any funds it offers.." [more]

Saudi Youth Among Global Changemakers [Nov 12]
"Sixty young activists between the ages of 16 and 19 — including an 18-year-old Saudi student — have been selected to participate in the British Council’s Global Changemakers project. The youths, who are from 40 countries including Afghanistan and Burma, will represent the voice of their generation when they meet at the Guildford Forum near London from Jan. 18 to 24 to discuss the challenges that their communities face regarding issues such as climate change, education, intercultural conflict and the devastating impact of poverty.. ..Representing Saudi Arabia is Joud Kashgari, a political science and economics student at the American University in Cairo (AUC). Kashgari is involved with the Model United Nations Environmental Program, which helps raise awareness about environmental issues and launch environment-friendly projects around the Cairo area and the AUC campus. He is also attached to Student Action for Refugees, which helps teach mostly Cairo-based refugees English and Arabic.." [more]

Tourism Industry Urged to Employ Saudi Women [Nov 12]
"Prince Sultan bin Salman, secretary general of the General Commission for Tourism and Antiquities (GCTA), has called on local travel and tourism organizations to offer employment to Saudi men and women alike, since the hospitality sector has been opened by the government for women employment. Prince Sultan made this call at the opening ceremony of the new ‘Novotel Riyadh Al-Anoud Hotel’ here Monday night.. ..Prince Sultan said, 'We don’t differentiate between Saudi men and women, when it comes to providing employment.' 'In fact, a number of Saudi girls have been sent to different foreign institutions to be trained in hotel industry,' said the prince, while referring to the growing number of Saudi women working in travel and tourism sector. He also pledged to provide all support to women seeking career in this sector. Also, a new program organized by the Arab Tourism Organization in cooperation with the American University of Beirut aims to develop human resources in the Kingdom’s tourism and hotel sector.." [more]

Saudi Arabia Announces a $5m Donation to the UN Refugee Agency [Nov 12]
"The UN Refugee Agency welcomes a $5m donation by the Kingdom of Saudi Arabia in support of its operations for Iraqi refugees in Syria and Jordan. The donation comes as a response to UNHCR's humanitarian appeal issued this year to fund the agency's programs assisting Iraqi refugees.. ..There are more than 4 million uprooted Iraqis. More than 2.2 million of them are displaced inside the country and another 2 million Iraqis who fled the country - the majority of them to Syria and Jordan. UNHCR has been calling for increased support for these two countries. In 2008, UNHCR appealed for $261m for its operations on behalf of the millions uprooted by the conflict in Iraq. Most of the refugees outside Iraq are in Syria and Jordan and are living in urban areas such as Damascus and Amman. Many of them are running out of money and finding it increasingly difficult to survive amid a dramatic increase in food prices across the region.." [more]

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

Dialogue Among Civilizations [Nov 11]
"World leaders have started arriving in New York for the landmark UN General Assembly meeting on the Culture of Peace, which will emphasize the need to respect all cultures and reject the exploitation of religious faiths to kill innocent people. Custodian of the Two Holy Mosques King Abdullah, who initiated the interfaith dialogue by organizing a major conference in July in the Spanish capital Madrid, will address the UN meeting tomorrow.. ..Saudi officials highlighted the importance of the UN conference and said it would promote peaceful coexistence and condemn extremism. 'This hits at the extremists, who we say are wrong in terms of Islam,' said Mohammed Al-Zulfa, a member of the Shoura. He described King Abdullah as an advocate of interfaith dialogue. 'Our king has a good vision of world peace.'.." [more]

Shoura Rejects Proposal to Ease Saudi Marriages to Foreigners [Nov 11]
"The Shoura Council yesterday rejected a recommendation to simplify regulations governing Saudis marrying non-Saudis. However, a council session, chaired by its new Vice President Bandar Al-Hajjar, approved other recommendations submitted by Talal Al-Bakri, chairman of the council’s Committee for Social, Family and Youth Affairs. Hajjar rejected the proposal as the council’s 108 members were equally split over a need to simplify the regulations. Opponents of the proposal said changes would only exacerbate the problem of spinsterhood in the Kingdom. 'Such recommendations would greatly increase the number of Saudis marrying foreigners while we are fully aware of the complications that such marriages create,'.." [more]

Saudi Government Sues Tobacco Importers [Nov 11]
"The Saudi health minister says his government has filed a $34 billion lawsuit against importers of cigarettes from international tobacco companies, including U.S. firms. Minister Hamad al-Manie tells The Associated Press the government wants compensation for the cost of treating illnesses caused by smoking. He says it is also part of an effort to stem smoking in the kingdom. Al-Manie on Tuesday put the health and economic costs of smoking-related illnesses at the equivalent of about $1.3 billion a year.. ..He says only one of the 13 agents being sued attended.." [more]

Rio May Delay $11 Billion Saudi Aluminum Project [Nov 11]
"Rio Tinto Group, the world's second- biggest aluminum producer, is reviewing plans to build a smelter in Saudi Arabia and may delay the project by as much as a year. '``We're taking a step back to see how to optimize the project,'' Dick Evans, chief executive officer of Rio's Alcan unit, said in an interview at a conference in Dubai today. Rio and its partner, state-owned mining company Ma'aden, may find ``significant savings'' in the $11 billion budget, he said. The world's largest producers of aluminum, iron ore and steel are cutting output and reviewing investment plans as the global economy slows and commodity prices decline. United Co. Rusal, the world's largest aluminum smelter, said last month that 75 percent of companies making the metal in China, Europe and the U.S. were unprofitable after the price plunged. Costs for the Saudi project climbed from an initial estimate of $7 billion as raw-material and energy prices increased.." [more]

Female Students Upset at Breach of Their Privacy [Nov 11]
"Students at the new female dormitory of King Saud University in Riyadh have voiced their resentment at what they describe as an “invasion of privacy” by university supervisors. Women students returning to their lodgings from lectures reportedly find that university wardens have unlocked their rooms and gone through their personal belongings, and claim that supervisors 'treat them like teenagers' and confiscate their personal effects to deliberately upset them.. ..Students have raised their grievances with the recently created Students Rights Group, a body that follows up student complaints and provides legal consultation. Dr. Fahd Al-Misnid, Dean of Students Affairs at King Saud University, confirmed that the wardens inspected students’ belongings in their presence and supported their right to raise the issue with the Students Rights Group.." [more]

Singapore Relaxes Visa Rules for Saudis [Nov 11]
"Singapore government has introduced a new visa regime for Saudis by cutting the visa processing time from 14 days to five working days now, said Jason Ong, Area Director for Middle East and North Africa, Singapore Tourism Board (STB). Ong was speaking to Saudi Gazette after addressing a press conference here on Monday to announce the launch of Riyadh-Singapore flight, a new route that Singapore Airlines will introduce from Dec. 14. 'We are relaxing our visa regime for Saudis. We will issue multiple entry visa to Singapore for all Saudis with a minimum period of one-year,'.. ..Among other measures taken to simplify the issuance of Singapore visa to Saudis a number of visa processing outlets have also been opened in the Kingdom, he said. Saudis can also apply for Singapore visa online. There is no need for personal interviews or fingerprinting.." [more]

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

U.N. Peace Dialogue Said Success for Saudi Leaders [Nov 10]
"World leaders' talks this week at the United Nations on a Saudi push for world peace and religious dialogue were hailed by some as a triumph for Saudi Arabia, but critics dismissed the meeting as a public relations exercise.. ..The Saudi clerics have shown scant support for the initiatives and 
three prominent figures declined to comment on them to Reuters. The Grand Mufti, who represents the state's official views on religious affairs, did not attend the gathering in Spain which was attended by U.S. Jewish rabbis. Wahhabism generally shuns contact with 'infidels', and for many of them that includes Shi'ites.. ..However, liberals in Saudi Arabia praise the king's initiative as an attempt to change that reality. They say such high-profile events pressure the conservatives at home who created the ideological environment that feeds Islamist militancy. Al Qaeda militants launched a violent campaign to destabilise Saudi Arabia in 2003.." [more]

Saudi Confirms Oil Supply Cuts [Nov 10]
"Top oil exporter Saudi Arabia provided the most visible evidence yet of adhering to OPEC's deal to curb output by telling refiners in Asia that it would cut December supplies by 5 percent.. ..State oil firm Saudi Aramco informed at least five customers over the weekend that they would receive about 5 percent less than their contracted allocations next month, the first cut-back in 14 months, industry sources with the refiners told Reuters. The kingdom ships about half its exports to Asia and a 5 percent cut to the region would equate to about a 175,000 barrels per day (bpd) reduction, or more than a third of the total 466,000 bpd it is expected to cut under last month's OPEC agreement. The Saudi cut was largely in line with expectations, traders said, suggesting it will do little to spur additional crude demand in Asia in a bearish spot market.." [more]

Transparency Key to Financial Sector, says Saud [Nov 10]
"..Delivering the keynote address at the international conference on 'The Impact of Information and Integrated Statistical Systems on Socio-Economical Development' Shaikh Saud said, 'The financial crisis that has affected many countries across the world reflects the interconnected nature of the global financial system. There is now greater need for clear and accurate economic information and transparency in order to help tackle this crisis'. The three-day conference is being conducted by the Ras Al Khaimah Econ-omic Development Department in association with the College of Business and Economics (CBE) of the UAE University.. ..Shaikh Saud said the coherence and stability of companies and other entities in the public and private sectors will be closely linked to their access and use of critical information systems.." [more]

No End to Dependence on Expatriate Labour: Saudi [Nov 10]
"Saudi Arabia wants to create a white-collar workforce of Saudis in services and professions but does not foresee ending its dependence upon cheap foreign labour, a government official said yesterday. Deputy Labour Minister Abdulwahed Al-Humaid said between 8 and 9mn of Saudi Arabia’s population of over 25mn were temporary foreign residents who have effectively become part of the economic fabric of the nation. 'Our goal is not to employ Saudis in any employment but to give them the right job, to give them skills. Our goal is to train Saudis in jobs where they add value to the economy,'.. ..The labour ministry is trying to force businesses to employ more Saudis in a process known as 'Saudisation', three decades after the world’s biggest oil exporter invited Asian labour en masse to develop the country during the 1970s oil boom. Having been a pioneer in use of migrant labour, Saudi Arabia has many experts and policymakers who rue the day they handed over overnight construction of a modern nation to outsiders because of the culture of dependence it has produced.." [more]

Canadian Embassy Contradicts Press Reports on Kohail Case [Nov 10]
"The Canadian Embassy in Riyadh issued a statement saying that 'no official ruling has yet been rendered' in the case of 23-year-old Mohammed Kohail, who is appealing a death sentence in the case of a January 2007 Jeddah schoolyard brawl that ended with the death of Munzer Al-Haraki, 19, who succumbed to a ruptured bladder due to the beatings. The statement comes after several Canadian newspapers claimed a Saudi court has rejected the appeal.. ..Andrea Meyer, spokesperson for the Canadian Embassy, told Arab News by e-mail yesterday that officials in Ottawa continue to press for some kind of clemency for Kohail, a Palestinian-born Canadian citizen who previously lived with his family in Montreal. 'Canadian Foreign Minister Lawrence Cannon has been briefed on the case and has directed his officials to meet with the Saudi charge d’affaires in Ottawa and raise the issue again,'.." [more]

Accord Signed for 3rd Phase of Yanbu Port [Nov 10]
"President Khaled Boubshait yesterday signed an agreement with Huta-Hegerfeld Company to implement the third phase of developing King Fahd Industrial Port, a project that consists of building more wharfs, adding more oil storage capacity and further deepening piers in order to promote the 
port’s handling capacity. The project is expected to last for 15 months. The project will make Yanbu a large deep-water port that will become the Kingdom’s first to handle the largest oil tankers. Another project, valued at SR50 million, will see the construction of a new administrative building for the port. Boubshait said the SPA was keen to finish the floating dock project as well. 'Work will commence on the project very soon,'.." [more]

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

King Abdullah in US for Interfaith Meeting [Nov 9]
"Custodian of the Two Holy Mosques King Abdullah, who arrived here Friday night, held talks on phone with US President-elect Barack Obama and emphasized the historic and deep-rooted relations between the two countries. 'The two leaders exchanged friendly talks,' the Saudi Press Agency said. It was the first direct contact between King Abdullah and Obama since the latter was elected president of the United States in the historic Nov. 4 polls. Earlier, King Abdullah and Crown Prince Sultan had sent congratulatory messages to Obama on his landmark election victory. King Abdullah said Saudi Arabia was looking forward to working together with the United States in order to achieve peace and justice as well as to reinforce security and stability in the Middle East and other parts of the world.. ..Traveling from the Moroccan city of Casablanca, King Abdullah arrived in New York to attend a special session of the UN General Assembly on interfaith dialogue on Nov. 12..." [more]

Moscow to Host Mid-East Meeting [Nov 9]
"The Quartet of Middle East mediators say they will hold a conference in Moscow early next year to push forward the Israeli-Palestinian peace process. The statement follows a meeting of Quartet envoys from the US, the UN, the EU and Russia in Egypt. They were briefed by Palestinian and Israeli leaders on the progress of their bilateral talks. Quartet envoy Tony Blair urged US President-elect Barack Obama to make the Middle East an urgent priority.. ..UN Secretary General Ban Ki-moon summarised the briefing the Quartet had received from Israeli Foreign Minister Tzipi Livni and Palestinian Authority President Mahmoud Abbas. He said the two sides had reached agreement that there would be no peace deal until all issues between them were settled. They also agreed on the need for negotiations to continue to reach a comprehensive two-state solution as outlined one year ago at a US-sponsored conference in Annapolis, Maryland.." [more]

Saudi Aramco on Track for 12 mbpd Capacity [Nov 9]
"State-owned Saudi Aramco, the world's top oil exporter, is on track to boost capacity to 12 million barrels per day by mid-2009, the company's new Chief Executive Khalid al-Falih told al-Arabiya television on Sunday. 'In the second half of 2009 Saudi Aramco will reach 12 million bpd of crude 
oil,'.. ..On Friday, ConocoPhillips and Aramco said they halted bidding on the construction of the 400,000 barrel per day joint-venture Yanbu refinery in Saudi Arabia, citing uncertainties in financial markets.. ..Turmoil in credit markets and tumbling oil prices have prompted energy firms around the world to reconsider expensive projects or cut back on spending to preserve liquidity.." [more]

Saudi Shares Fall on US-Iran Concerns [Nov 9]
"Saudi Arabian shares fell, led by Saudi Basic Industries Corp, after US President-elect Barack Obama said Iran’s potential development of a nuclear weapon was unacceptable. Saudi Basic Industries, the Middle East’s biggest publicly traded company, tumbled to a four-year low in Riyadh trading. Samba Financial Group retreated and Zamil Industrial Investment Co lost for the first time in six days. The Tadawul All Share Index snapped a three-day gain, falling 5.8% to 5,732.03 in Riyadh. It has retreated 48% this year. The Tadawul is the only Arab exchange monitored by Bloomberg that’s open on Saturdays. 'Obama’s speech about Iran wasn’t good,' Abdulla al-Aqil, a trader at Samba Financial Group, said in telephone interview in Riyadh yesterday. 'It didn’t give comfort to investors.' Iran’s efforts to develop a nuclear weapon were unacceptable, and an international effort should prevent this from happening, Obama told reporters in Chicago on Friday. He also called on Iran to stop supporting terrorism.." [more]

Saudis Must Rationalize Spending [Nov 9]
"Anticipating a fall in crude oil revenues due to declining consumer demand in the wake of the global financial crisis, a prominent Saudi banking expert underlined the need for rationalisation of government spending in the immediate future.. ..Saudi Arabia's budget for 2008 estimated the Kingdom's oil revenues would reach 298 billion riyals in 2009 if export prices of crude oil per barrel remain above $50. Al Shaikh predicts that oil prices will fall further next year as the current economic crisis spills over to more countries in Eur-ope and the developing countries and as far as Japan. 'In light of the fall in crude oil revenues, Saudi Arabia, the largest producer and exporter of crude oil in the world, should rationalise its current spending and restrict its capital expenditure,'.. ..This will be sufficient to continue with its investment projects even though financing by the private sector has fallen.." [more]

Lawyers to Sue Saudis Abandoning Kids Abroad [Nov 9]
"The Society for the Care of Saudi Families Abroad has assigned lawyers to take up cases against Saudi fathers who refuse to recognize offsprings they have fathered abroad, a situation which leaves around 2,000 children unable to obtain official Saudi identification documents. The society is working with the Ministry of Interior to penalize fathers who have not come forward or have refused to recognize their children, and a list of their names will be given to province governorates to help complete procedures for giving their children official identification documents.. ..Abdullah Al-Hamoud, president of the society, said that 700 Saudi families with some 2,000 children in 10 different countries need cooperation of the fathers to officially establish identities and obtain nationality.." [more]

GM Sales in Kingdom Surge 8% in 9 Months [Nov 9]
"Sales of General Motors (GM) vehicles in Saudi Arabia in the first nine months of this year roared up 8 percent over the same period of 2007, the company announced recently. With total year-to-date sales of 62,706 units, the Kingdom accounts for well over half of all GM sales in the Middle East. GMC continues to go from strength to strength in Saudi Arabia, with year-on-year sales in the first three quarters of 2008 up by 31 percent to 20,706 units. This growth has been mainly attributed to continuing popularity of the Yukon and Yukon XL full-size SUVs - with sales of over 16,000 units they make up the majority of GMC sales - as well as the impact of the Acadia luxury Crossover SUV, which registered over 2,000 sales.Chevrolet accounted for two thirds of GM volume in the Kingdom.." [more]

Saudi-Swedish Business Council Formed [Nov 9]
"Bilateral trade exchanges between Saudi Arabia and Sweden have reached approximately SR4 billions ($1.06 billion), latest statistics showed. The ties would be further strengthened with first visit of Stockholm Governor Gustav Unckel and his team who were invited by Prince Salman Bin Abdul Aziz, Emir of Riyadh, to discuss the recent bilateral ties between the two states. After visiting Riyadh, Unckel with his entourage, visited the JCCI on Tuesday night.. ..'I think the best fruit of such a visit is the establishment of the Business Council to support the commercial exchanges between the Kingdom and Sweden. The Council will also enhance the Kingdom’s market by importing the latest Swedish technologies in many different fields including industrial, agricultural, food production and construction.' 'I agree with my Saudi partners that the Saudi-Swedish bilateral trade exchange is still weak and small. We need to enlarge our exports to Saudi Arabia in all sectors like petrochemicals, some electronic products, wood industry and steel' Unckel added.." [more]

November 2-November 8, 2008

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

King Leaves for the US  [Nov 8]
"King Abdullah, Custodian of the Two Holy Mosques, left Casablanca Friday for the United States to participate in the interfaith and intercultural dialogue summit at the UN headquarters in New York. The Monarch is also scheduled to participate in the G-20 economic summit in Washington, Nov. 15.." [more]

Al-Naimi Stresses Need to Focus on Cleaner Energy [Nov 8]
"Saudi Arabia has affirmed its commitment to the principles laid down by the UN convention on climatic change and support to the technological research and development in the field of cleaner energy and better environment. Petroleum and Mineral Resources Minister Ali Al-Naimi stressed the need to focus on cleaner and more efficient use of fossil fuels while concurrently developing alternatives in a two-day conference on climatic change in Beijing yesterday. 'The most pragmatic strategy for the better protection of the environment is to concentrate on cleaner and more efficient use of fossil fuels on which we will continue to depend, while concurrently developing alternatives,'.. ..Al-Naimi also warned against undue haste in abandoning the hydrocarbons as a source of energy while looking for solutions for climatic change. 'The calls for moving away from fossil fuels as a means of addressing potential climate change do not represent a practical solution to the global warming issue,'.." [more]

Rice Says Mid-East Deal Unlikely [Nov 8]
"US Secretary of State Condoleezza Rice has appeared to concede that a Middle East peace deal will not be reached by the end of the year. Ms Rice, on her 22nd visit to the region, said however that there was a 'firm foundation' for an agreement between the Israelis and Palestinians. She will meet leaders from both sides before moving on to Jordan and Egypt.. ..Ms Rice will wrap up her four-day visit to the region in the Egyptian resort of Sharm el-Sheikh, where she will attend a meeting of the Middle East Quartet - the mediation group made up of the US, Russia, the European Union and the United Nations. The talks that began in Annapolis, in November 2007, have produced few tangible results and are expected to be placed on hold for at least several months during the US transition from Bush to Obama administrations.." [more]

OPEC Says Oran Meeting Must Verify Output Cuts [Nov 8]
"OPEC's next meeting must confirm that members have made all the oil output reductions they promised before taking any more action on output levels to prop up sagging prices, OPEC President Chakib Khelil said on Saturday. 'We will discuss another cut, whatever happens, but will there be 
a consensus? I cannot tell you today,' Khelil said.. ..'If everyone has applied (the cuts) and everything in terms of prices stays at the levels we have today, it's of course clear that we will probably go towards a decision to reduce,' he said, adding that if the cuts had not all been implemented it would be difficult to decide further action. Taking further action at a time when previous cuts had not all been implemented would send a bad signal to the markets, which reacted to 'the reality on the ground' rather than mere words, he said.." [more]

Saudi King, President of Israel Will Meet [Nov 8]
"Israeli President Shimon Peres plans to join Saudi King Abdullah at a U.N. interfaith conference this month, Peres' office said Wednesday. It would be an unprecedented public meeting between the heads of state of the longtime adversaries. Peres, a Nobel Peace Prize laureate, has spoken favorably of a Saudi-sponsored plan that calls for a comprehensive peace between Israel and the Arab world. A spokeswoman confirmed that Peres will attend next week's gathering in New York, though it was unclear whether Peres and Abdullah would meet separately or discuss the peace plan. President Bush, Arab leaders and the Italian prime minister are expected to attend. 'President Peres and King Abdullah will take part in a special assembly that will be entirely dedicated to the bringing together of religions and will make remarks from the same stage together with presidents, prime ministers and kings,'.." [more]

Marriott Hotels Committed to Development in GCC [Nov 8]
"The newly appointed vice president for sales and intermediaries at Marriott hotels, Julius Robinson, stopped over in Jeddah recently as part of a ‘meet the properties’ inspection of the Middle East. 'I wanted to come out and meet our travel agents and wholesale customers to understand what 
we could do to make business with us easier for them,' he said. 'Our goal is for us to be the easiest hotel group to do business with. I feel it’s important for me to be here in person to meet them.'.. ..'I was very surprised with the level of commerce and how it is growing in the region,' he said. 'The Kingdom is very strong; there is clearly an opportunity for us to grow.' He added that his impression of Jeddah was that the economics of the Kingdom were very strong and that business here was particularly outward looking.." [more]

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

Abdullah to Test Washington's Foreign Policy [Nov 7]
"Wary about the direction of US policy in the region, Saudi Arabia's King Abdullah will have a chance to put out feelers to president-elect Barack Obama during a visit to the United States next week. The Saudi monarch and his delegation will attend a two-day United Nations session in New York on an 'interfaith dialogue' he launched this year and then attend a summit of world leaders in Washington on the global financial crisis. 'They will do their best to sound out what the president is going to be like.. ..Obama's election pitch featured a promise to end US dependence on Middle East oil within 10 years, open dialogue with Iran and a draw down of the US presence in Iraq. Those all have the potential to deeply trouble the Saudi leadership, which has relied on an oil-for-security US alliance since the 1940s that has survived regional upheavals and kept the Saud family in power against often tall odds.." [more]

Conoco, Aramco Delay Saudi Refinery [Nov 7]
"ConocoPhillips and Saudi Aramco said Thursday they will delay a proposed oil refinery in Saudi Arabia, widely believed to cost more than $10 billion, in the latest sign that economic uncertainty is leading energy producers to move cautiously. The companies said they will push back the 
construction bids, originally due in December, by six months to allow engineering and construction costs to drop, as they are expected to do in a cooling world-wide economy. The global oil industry has experienced a number of project delays in recent weeks, stretching from the Canadian oil sands to the Middle East and Asia. While fossil-fuel demand is dropping, these delays could exacerbate an anticipated supply crunch when demand recovers. Saudi Aramco, the world's most powerful oil company, also said it was "reassessing all projects" in light of softening demand.." [more]

Saudi Ambassador Denies Inviting Israel to Inter-Faith Meet [Nov 7]
"A Saudi diplomat denied in remarks published on Friday that Riyadh had invited Israel to a UN inter-faith meeting in New York next week, saying the invitation had come from the United Nations. 'The president of the UN General Assembly addressed invitations to all UN member states,' Saudi Arabia's ambassador to Lebanon, Abdul Aziz Khoja, was quoted as saying in Saudi and Lebanese newspapers. The November 13 conference is being held at the initiative of Saudi Arabia, which has no relations with Israel. Both Saudi King Abdullah and Israeli President Shimon Peres are due to attend.. ..Saudi Arabia is the author of an Arab blueprint offering Israel peace in return for withdrawal from occupied Arab lands but refuses to have ties or contacts with Israel in the absence of a Middle East peace settlement.." [more]

Malloy Bound for Saudi Arabia [Nov 7]
"Mayor Dannel Malloy is flying to Saudi Arabia today for a week in the desert nation with a delegation of American mayors. The trip is sponsored, organized and planned by the Saudi Arabia Embassy in Washington, D.C., according to Arielle Reich, the mayor's executive aide. The trip will 'provide the mayor the opportunity to learn about the economy of Saudi Arabia, its culture, its people and its government,' Reich said. Malloy is one of seven chief executives who will be part of the U.S. Conference of Mayors delegation.. ..Malloy said he was approached by the mayors' group about the trip and soon thereafter requested an invitation. The tour, which will include visits with the Saudi Chamber of Commerce, offers a chance to make connections in a country that has 'substantial investments in a number of financial institutions in our area,'.." [more]

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

Saudi King Seeks Sense of Obama Policy on U.S. Trip [Nov 6]
"Wary about the direction of U.S. policy in the region, Saudi Arabia's King Abdullah will have a chance to put out feelers to president-elect Barack Obama during a visit to the United States next week. The Saudi monarch and his delegation will attend a two-day United Nations session in New York on an "interfaith dialogue" he launched this year and then attend a summit of world leaders in Washington on the global financial crisis. 'They will do their best to sound out what the president is going to be like, but these sorts of things always take time,'.. ..Obama's election pitch featured a promise to end U.S. dependence on Middle East oil within 10 years, open dialogue with Iran and a draw down of the U.S. presence in Iraq. Those all have the potential to deeply trouble the Saudi leadership, which has relied on an oil-for-security U.S. alliance since the 1940s that has survived regional upheavals and kept the Saud family in power against often tall odds. A message of congratulation from the 85-year-old king to Obama, 47, betrayed what was on the Saudi leadership's mind. 'On this occasion we praise the strength of the firm historical bonds between the two friendly nations and hope for the peace and justice and strengthening of security and stability in the Middle East region,'.." [more]

Saudi Aramco to Raise Output [Nov 6]
"With maintenance work on its oilfields almost complete and new wells operational, Saudi Aramco has said it intends to increase crude oil output by 32 per cent. Khalid Abdullah Al Braik, CEO of Saudi Aramco, said at Adipec that the company is due to raise its oil production up to 12.5 million barrels per day (bpd) soon. The current production is around 8.5 million bpd and 3.11 billion barrels annually.. ..Oilfield development projects were not affected by the international financial crisis or the declining prices of oil, he added. Replying to a question about the company's stance on the falling global demand for crude oil, Al Braik said Aramco's expansion projects are linked to an expected increase in international demand for crude.." [more]

Thailand Hopes Soccer Can Mend Saudi Ties [Nov 6]
"Thailand's national soccer squad left for Saudi Arabia on Thursday and Bangkok is hoping this signals a thaw in its ties with Riyadh, angered by the unresolved killing of diplomats in the Thai capital and stolen royal gems. Thailand, coached by former England midfielder Peter Reid, is due to play the Saudis in a friendly match on Saturday, and a lot is being read into the invitation from Riyadh, which downgraded its diplomatic links with Bangkok in 1989. 'The Saudis have invited us for a warm-up match and we hope this friendship could be expanded into other areas,'.. ..Riyadh recalled its ambassador after four Saudi Arabian embassy employees, including two diplomats, were gunned down in Bangkok in 1989. Days later a Thai worker in the Arab state stole jewellery worth $20 million from the Saudi royal family.. ..Saudi Arabia is still Bangkok's top crude oil supplier but only about 10,000 Thais work there these days, compared with a peak of 300,000.." [more]

Abdullah Greets Obama [Nov 6]
"Custodian of the Two Holy Mosques King Abdullah and Crown Prince Sultan yesterday congratulated US President-elect Barack Obama on his historic election victory, wishing him every success. 'On behalf of the people and government of Saudi Arabia and myself, I extend hearty congratulations to you and wish you every success,' the king said in a message to Obama. King Abdullah reaffirmed the deep-rooted and historic relations between Saudi Arabia and the United States and the two countries’ efforts to achieve peace and justice as well as to reinforce security and stability in the Middle East and other parts of the world. 'We look forward to further strengthening our bilateral relations in all areas,'.." [more]

Low Oil Price Major Risk to GCC Growth [Nov 6]
"The global financial turmoil is impacting GCC economies on three critical fronts, says a key economic research report issued by Gulf Finance House (GFH). Lower crude oil prices, the drying up of foreign capital flows and declining demand for the region’s energy-intensive industrial and building materials will likely put a damper on the fast pace of economic growth seen in the region in recent years. However, continued robust government spending will help stave off the more severe effects of the global financial crisis and as long as Brent crude oil prices remain above the $60 per barrel mark.. ..Hany Genena, senior economist at GFH, said the projected fall in oil export revenues suggests that GCC economies will join the fourth and last group of countries (mainly commodity exporters) impacted by the global economic slowdown in 2009, the first three being the US, the G-7 and net commodity importers.." [more]

Saudi Activists Start Hunger Strike to Highlight Detentions [Nov 6]
"Saudi Arabian human rights campaigners began a two-day hunger strike as they seek a more transparent judicial system and try to raise public awareness about 11 political activists who have been detained without trial. Sixty-eight activists are participating in the protest, which began today 
after the government didn't respond to letters asking for greater rights for the detainees and an improvement in prison conditions, Mohammad Fahd al-Qahtani, a college professor and one of 13 campaigners who organized the strike, said in a telephone interview in Riyadh.. ..Saudi Arabia 
often conducts trials in secret and detainees are routinely denied access to lawyers, according to an Amnesty International report on Oct. 14. The government announced in October 2007 that it intended to reform the judicial system by establishing a supreme court and commercial and labor courts. The rights activists started groups on the social networking Web site Facebook.com and on Google.com to help raise awareness about their protest and the detainees. Some of the 11 being held, including Suliman Ibrahim al-Reshoudi, a human-rights advocate and former judge, and Mousa Mohammed al-Qarni, a former university professor, have been in jail since February 2007.." [move]

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

Israel's Peres to Attend Meeting With Saudi King [Nov 5]
"Israeli President Shimon Peres will be joining Saudi Arabia's King Abdullah at a U.N. interfaith conference this month. The two countries do not have diplomatic relations and their heads of state have not met publicly. Peres has endorsed a peace initiative drafted by the Saudi king. A Peres 
spokeswoman said Wednesday it was not clear whether the two would meet to directly discuss the plan. The Saudi proposal would have Israel withdraw from all land it captured in the 1967 Mideast war. In exchange, the Arab world would recognize the Jewish state. Israel is not willing to give up all the captured land but has expressed interest in the plan as a basis for talks. The conference in New York is the second in a series of interfaith dialogues Abdullah has promoted.." [more]

Saudi National Guardsmen Train in Qld [Nov 5]
"A Queensland company has begun training members of the Saudi Arabia National Guard (SANG) as helicopter pilots after landing a $100 million, five-year deal. Not only are they getting experience in the air - they're also learning to surf. Becker Helicopter Services, based at the Sunshine Coast airport at Maroochydore, took in its first six trainees this week. A 14-month course will include basic flight training through to advanced military pilot training in such areas as flying with night-vision goggles. SANG is tasked with protecting the Saudi royal family and internal security but is also an active military force.. ..Between 35 and 40 pilots would train each year.." [more]

Saudi King Removes Governor Following Complaints on Discrimination [Nov 5]
"Saudi Arabia's King Abdullah has removed the prince of a remote governorate that has seen violent clashes between police and minority Shi'ites complaining of discrimination, state media said on Wednesday. 'In response to the Interior Minister's report that Prince Mishaal, governor of Najran, wants to be removed from his post a decree has been issued relieving him,' the royal decree said.. ..In May, the Interior Ministry detained a vocal Ismaili leader who had suggested in a letter to the king that there could be more social unrest in Najran if action was not taken. 'The king has answered our calls for change and this is just the beginning. Najran has been celebrating since last night, firing guns in air and dancing in streets,' said Mohammed al-Askar, a leading Ismaili activist.." [more]

Illiterates Cannot Apply for Jobs in Saudi Arabia [Nov 5]
"Saudi Arabia has banned illiterate foreigners from taking up jobs in the country following a study on the crime scene in the country.Saudi Minister for Interior Prince Naif Bin Abdulaziz has approved a proposal by his ministry not to bring anyone, who does not read and write, for jobs in that Gulf nation. The move comes after an interior ministry research found that uneducated foreign workers topped the list of criminals in the country. Saudi missions abroad have been directed to make this a precondition for recruitment before issuing job visas.." [more]

Live Blog: US Election Reaction in the Arab World [Nov 5]
"Gulf News correspondents from around the Arab world will be filing updates and reaction to the US election in a live blog.. ..Saudi youths – Naif Al Shamri, Abdullah Al Masud and Fahd Al Mutairi, who are students at the faculty of administrative and political sciences at the US University of Princeton - said they see victory of Obama as the victory of the people of the United States. 'It is evident that the American society rose above race and made history by electing a black citizen of African origin to be at the helm of affairs for the first time. However, his victory is not going to make any basic change in Washington's policy towards the Middle East,' they said while attributing this to the mindset of US policy makers, which was always leaning towards Israel. Abdullah Al Abdali, who is a Saudi analyst specializing in US affairs, hoped that Obama's new administration would be able to make drastic changes in its foreign policy concerning the Middle East. 'The policies of Democrat presidents were more balanced and just than that of the Republicans,' he said while citing the examples of former Democrat presidents: John Kenney, Jimmi Carter, and Bill Clinton.." [more]

US Private Enterprise Seeks Saudi Support [Nov 5]
"The United States is looking to Saudi Arabia to support the growth and stability of American private enterprise by sending more companies to partner with their Saudi counterpart, according to the US-Saudi Arabian Business Council. 'The US economy is now very bad, and because the American market is very weak, we are looking forward to introduce more than 300 US companies every year to the Kingdom in coming years,' said David Callahan, Vice President for Business Development of the US-Saudi Arabian Business Council. US-Saudi Arabian Business Council is based both in USA and Saudi Arabia. The US office is in Virginia, USA and in the Kingdom in Riyadh.. ..'Despite economic downturn in the American economy, Saudi Arabia will remain a key business partner of the United States, and there is no drop in interest by American companies in seeking business opportunities in the Kingdom or elsewhere,' Callahan told Saudi Gazette. Peter O’Neil, head of the Pennsylvania Trade Mission, said the state will encourage more business companies to seek business ventures in Saudi Arabia. 'There are about 12,000 companies in Pennsylvania, but very few of them have business tie-ups with Saudis. We plan to introduce 60 to 70 of our companies to seek business relations with their Saudi counterparts,' O’Neil said.." [more]

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

Who Will Muslim Americans in Saudi Arabia Vote For? [Nov 4]
" With the US presidential election taking place today, American Muslims in Saudi Arabia, the US and around the globe are still reluctant to publicly endorse a candidate. One of the main reasons analysts say is in part that many Muslim Americans feel that they are being ignored on both sides of the presidential ticket. 'I have never heard either Democratic nominee Barack Obama or Republican hopeful John McCain come out publicly to speak about the needs of Muslim American voters,' said Tammy 'Mariam' Umar, an American Muslim from Minnesota living in Jeddah. 'It would be nice to have the candidates at least meet with the Muslim community leaders in the US or go on an international news network such as CNN or BBC to speak about issues such as Middle East foreign policy and the like but instead we have received the "cold shoulder" making us feel as if our vote simply doesn't matter,'.." [more]

Oil Rises Above $64 After Saudi Cuts Supplies [Nov 4]
"Oil rose above $64 on Tuesday, after industry sources said Saudi Arabia had already made substantial cuts in supplies and helped the market recoup earlier losses. Saudi Arabia, the world's biggest oil exporter, has reduced exports by around 900,000 barrels per day from a peak in August.. ..'Saudi Arabia cutting supplies could be supportive,' said Christopher Bellew at Bache Commodities, 'But it could also be bearish, pointing to reduced demand from customers.' Earlier, the market had fallen more than a dollar, pressured partly by expectations that oil refiners will have to cut output because of weak demand for fuel. All markets were awaiting the outcome of the U.S. presidential election. Saudi Arabia's supply cut eases doubts about whether the world's top exporter would comply quickly with a 1.5 million barrel per day output cut agreed by the Organization of the Petroleum Exporting Countries in Vienna last month. Other OPEC members have also cut back.." [more]

Cabinet Pledges Full Support for Women’s Rights [Nov 4]
"The Council of Ministers yesterday emphasized the government’s resolve to protect the rights of women and prevent violence against them. 'Royal decrees have been issued to protect the rights of women at judicial institutions and tackle delays in this respect,'.. ..'The meeting emphasized that the 
rules and regulations to protect the rights of individuals must be followed,' said Culture and Information Minister Iyad Madani. 'No measures should be taken in violation of those rights and freedoms except within the framework of Shariah laws,' the Saudi Press Agency said, quoting the Cabinet. Abdul Ilah Saaty of the Jeddah Community College welcomed the government’s decision to improve the condition of Saudi women. 'Our women have suffered for decades because their legitimate rights were not protected.'.." [more]

Poverty Stalks Stateless Sons, Daughters of Saudi Men [Nov 4]
"There are more than 1,000 young men and women abroad who have been abandoned by their Saudi fathers and are leading a miserable life. 'They are living in the native places of their mothers in the Arab and East Asian countries without having the nationality of either their father or mother,' said Abdullah Al Hamoud, chairman of Awasser, a Saudi charitable society that looks after Saudis abroad.. ..Referring to the meagre fund of the society, he noted that Awasser gets 1 million Saudi riyals annually from the Ministry of Social Affairs in addition to Zakat, and donations from philanthropists. 'The ministry should increase its contribution to the society to at least 10 million riyals in order to support the society so that it can play a greater role in supporting these poor families, for which the society actually needs more than 50 million riyals,'.. ..Al Saleh noted that Syria tops in the number of illegal marriages between Saudis and non-Saudis.." [more]

Kingdom Inflation Declines to 10.35% [Nov 4]
"Inflation in Saudi Arabia eased to 10.35 percent in September from 10.9 percent in August, official data showed on Monday, in another sign that price pressures had peaked and that economic growth was likely to cool. The slowdown in price rises comes as Saudi Arabia and other Gulf Arab countries implement emergency moves to stave off an economic crisis. The Saudi central bank last week slashed its benchmark repurchase rate by 100 basis points to 4 percent. The cost of living index of the largest Arab economy was 118.3 points on Sept. 30 compared with 107.20 points a year earlier.. ..Although it has been enjoying windfall revenue as the world’s largest oil exporter, Saudi Arabia has a huge income gap and most people have suffered because of the rising cost of living. Seeking to dispel concerns, central bank governor Hamad Al-Sayyari has said he expects growth to continue to climb.." [more]

IAEA Lauds GCC Policies on Nuclear Technology [Nov 4]
"The Gulf Cooperation Council (GCC) countries are 'good examples' of the healthy trend of increasing appreciation that the benefits of nuclear energy for sustainable socioeconomic development can only be realized in an environment of safety, security and nonproliferation. Peter Salema, director for Asia and the Pacific at the International Atomic Energy Agency (IAEA) in Vienna, made the comment while addressing the inaugural session of an international symposium on the peaceful uses of nuclear technology in GCC countries here yesterday. 'We commend the GCC countries for their policy decisions and undertakings in pursuit of peaceful uses of nuclear technology in line with all IAEA and international standards and obligations,'.. ..'The IAEA predicts a 50 percent increase in global energy consumption by 2030. About 70 percent of that increase is expected to come from developing countries; the use of electricity is expected to double globally and triple in developing countries. For many countries, nuclear power is a way to ensure secure energy supplies,'.. " [more]

Australia Seeks Free Trade Deal With GCC [Nov 4]
"Australian Minister for Trade Simon Crean, who is currently visiting Saudi Arabia, has reaffirmed the need to initiate talks for a free trade agreement between the six-nation Gulf Cooperation Council (GCC) and Australia. Claiming that trade was the 'multiplier of global economic activity,' Crean said Australia must use the G-20 meeting later this month to push the cause of free trade as a way of warding off the worst effects of the financial crisis. 'Crean’s visit is mainly intended to give a push to the proposed free trade agreement,' said Roy Clougstoun, a spokesman of the Australian Embassy, here yesterday. This is the first formal visit to Saudi Arabia by a minister in Prime Minister Kevin Rudd’s government. Clougstoun said that Crean held wide-ranging talks with senior Saudi officials including Riyadh Governor Prince Salman, Minister of Commerce and Industry Abdullah Alireza and SAGIA Gov. Amr Al-Dabbagh.." [more]

Pakistan to Ask Saudi Arabia to Defer Oil Payments [Nov 4]
"Pakistan's president will try to persuade Saudi Arabia to allow his cash-strapped, militancy-wracked nation to defer payments for oil when he visits the kingdom Tuesday, a spokesman said. Pakistan needs billions in outside assistance to avoid defaulting on its international loans. The South Asian nation is seeking help from the U.S., Saudi Arabia and other allies to avoid turning to the International Monetary Fund, a politically unpopular move that analysts say is unavoidable regardless. High inflation, a sinking currency and a violent Islamist insurgency also are hampering progress in the impoverished nation of 170 million. The young civilian government hopes that Pakistan's frontline role in the U.S.-led war on terror will spur the international community to prevent its economic downfall. President Asif Ali Zardari was due to arrive in the oil-rich Arab nation later Tuesday.." [more]

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Saudi Arabia Claims it Foiled Terror Attack Against US [Nov 3]
"The official said the 2003 plot, which was first reported in the Al-Watan newspaper, was one of 160 foiled terror plots the kingdom announced last month that it had managed to disrupt. It was unclear why Saudi authorities never publicly revealed the alleged 2003 plot previously and why it first surfaced in the newspaper. The official told the Associated Press that the 2003 plot involved militants who planned to hijack a plane and blow it up over a densely populated US city. The militants planned to arrive in the US illicitly via a third country - such as Canada or Mexico - so they could avoid applying for a US visa. The official said the militants were preparing to execute the alleged plot when it was halted, but did not provide more details about the alleged plot.." [more]

UAE to Challenge Saudi for Economic Leadership of Gulf [Nov 3]
"The UAE is expected to challenge Saudi Arabia for economic leadership of the Gulf region in five years, according to a survey of 50 senior investment strategists. Saudi is expected to be the most influential state in the Gulf over the coming year, followed by the UAE and Qatar. 'But in five years our respondents believe that Saudi and the UAE will be in equal first place, as the investments now being made into service industries in the UAE mature into market influence,' said Abdul Hamid Attallah, a partner in KPMG’s Egypt member firm. However, while the UAE will remain the hottest destination for Gulf investment for the coming year, it will be knocked into second place by India in five years, according to the survey by KPMG International. China will be the third favourite investment location, followed closely by QWatar, while more firms plan to invest in the US and Saudi Arabia.." [more]

WFP Executive Director to Visit Kingdom of Saudi Arabia [Nov 3]
"The Executive Director of the United Nations World Food Programme (WFP), Ms. Josette Sheeran travels to the Kingdom of Saudi Arabia to meet King Abdullah Bin Abdulaziz Al Saud, the Custodian of the Two Holy Mosques. The visit will be an opportunity for Ms Sheeran to thank His Royal Highness for the $500m donation from the Kingdom of Saudi Arabia which helped WFP to meet growing needs among the world's hungry caused by high food prices. 'The Kingdom of Saudi Arabia has shown itself to be a true campion for the world's poorest and most vulnerable people,' Sheeran said ahead of her visit, adding that the Saudi donation was vital in providing WFP with funds to assist millions of people affected by the impact of high food prices and turmoil on financial markets.." [more]

Brown Promises to Work Closely With Kingdom [Nov 3]
"British Prime Minister Gordon Brown called on the world’s powerful nations to initiate reforms of international policy-making institutions, while assuring greater say for Saudi Arabia and other Gulf states in any future new world economic order. Brown also pledged to work closely with the Gulf states and emerging economies like China and India to address the global crisis.. ..Addressing the Saudi-British Joint Business Council meeting at the Riyadh InterContinental Hotel here yesterday, he said: 'It is a pleasure and an honor for me to be here in Saudi Arabia for the second time this year to renew my friendship with King Abdullah, who is leading the world in search for peace and interfaith dialogue on the global level.' Brown, who wrapped up his two-day official visit to Saudi Arabia, added: 'Saudi Arabia will be at the table during the G-20 meeting in Washington and you have a crucial role to play and your voice must be heard.'.." [more]

Letter From America [Nov 3]
" For the last few days I have been seeing the American political process firsthand as part of a delegation of women from the Middle East organized by American University and the US State Department. We started by meeting with President George W. Bush, but since that time, we have been traveling across the country in the time running up to election day. What we have seen is truly an inspiration and an eye-opener about the potential for participatory democracy in our part of the world. In the Arab world, limited elections, however, hardly give one a taste of the incredible power of democracy as it is practiced in the United States.. ..If there is great power in the United States, it does not come from the military or Wall Street but from hundreds of millions of people living in freedom empowered with a voice and, as importantly, the information to let their will be known. We may have a way to go to attain this level of participation, but if the people of the Middle East truly want to embrace such empowerment, it will require education, tolerance of differing viewpoints and a willingness to make the compromises that can allow us — as a people — to move forward together toward a bright future.." [more]

Experts See Great Potential in Saudi Water and Power [Nov 3]
"Saudi Arabia’s water and power sector holds great potential for development and growth, especially as its population continues to increase. It is in this context that the Kingdom is in the process of evaluating alternative approaches to privatizing the water sector, which is presently heavily subsidized. The 4th Saudi Water & Power Forum (SWPF 2008), which opened at the Jeddah Hilton yesterday, discussed these and other issues at its sessions yesterday.. ..The Kingdom is one of the largest power and water markets in the world where more than $200 billion will be invested over the next 20 years. Led by the MoWE and all key state-sector companies, SWPF 2008 has turned out to be the exhibition and meeting place for domestic and international companies to help meet these enormous investment requirements. 'We have an ongoing national water plan and the World Bank is helping us in executing it,' a MoWE official told participants on the sidelines of the conference. International experience in water and power privatization, the impact of tariff policy on utilities, achieving sustainability through innovation, and fuel and sustainability were among the subjects discussed at the forum.." [more]

~~~~~~~~ [ Nov 2] ~~~~~~~~~

Prince Turki Accuses US Government of Doublespeak [Nov 2]
"Former Saudi Ambassador to Washington Prince Turki Al-Faisal asked American policymakers and their surrogates to cease sending disparaging messages that the Kingdom would be better with a change of regime. Speaking at the National Council on US-Arab Relations’ annual conference 
on Friday, he said Americans should stop saying it was inconsequential whether Osama Bin Laden is captured. He also said he was confused by what he saw as US policy 'doublespeak' on some Middle East issues. Prince Turki condemned Henry Kissinger, former secretary of state under President Richard Nixon, who, during the Republican Party’s National Convention in September, in responding to a question about the US relationship with Saudi Arabia, said: 'Nobody has been willing to face the consequences of overthrowing the system.' 'From one who is considered the elder statesman of America ... (this is) not very statesmanlike. Is Dr. Kissinger calling for the overthrow of the Kingdom? And for what?' asked Prince Turki.." [more]

British PM Expects Saudis to Top Up IMF Bailout Fund [Nov 2]
"British Prime Minister Gordon Brown said Sunday he expected Saudi Arabia to give more money to boost the International Monetary Fund's ability to bail out nations hardest hit by worldwide economic chaos. The IMF has 250 billion pounds (315 billion euros, 400 billion dollars) available to help countries struggling to stay afloat -- but Brown wants to increase this by hundreds of billions of dollars. 'The Saudis will I think contribute like other countries so we can have a bigger fund worldwide,' said Brown, who is on a four-day tour of oil-rich Gulf states to drum up support for his plan.. ..Brown spoke a day after talks with Saudi King Abdullah, who will attend a special Group of 20 summit of leading industrialised and developing nations in Washington on November 15 devoted to the unfolding crisis. Speaking to British and Saudi business leaders Sunday, Brown said it was in the interest of Gulf states to help other nations out to prevent economic 'contagion' spreading.." [more]

Zardari to Embark on Official Visit to Saudi Arabia [Nov 2]
"President Asif Ali Zardari will embark on an official visit to Pakistan's close ally Saudi Arabia on Tuesday to seek the kingdom's support in helping his country overcome its crippling financial crisis. Zardari is expected to seek oil supplies against deferred payments from Saudi Arabia to help 
Pakistan deal with its balance of payments problem. Despite several requests from Pakistan, the kingdom is yet to take a decision on this issue. The two-day visit will be Zardari's first trip to Saudi Arabia since he assumed the post of President in September. He earlier accompanied Prime 
Minster Yousaf Raza Gilani to that country in June. Zardari and Saudi King Abdullah bin Abdul Aziz will also exchange views on bilateral, regional and international Issues.." [more]

Saudi Women, in Their Own Words [Nov 2]
"There’s always a point in the life of women working in the media, where they are asked: What’s a lady like you doing in a field like this? It’s true that the media represents a huge departure from traditionally acceptable women’s occupations. The erratic work hours and pressures, the feeling of always being on the go, the chase for the next big story may all be exhilarating, but the adrenaline rush definitely takes its toll, socially and personally. If this is true of more liberal societies, one can only imagine the degree of challenge faced by Saudi women in the media. Amjad M. Reda’s book is an eye-opener in this respect, tracing the journey of Saudi women in the media --from the first pioneers to the present generation of broadcasters and print journalists. The writer, herself a veteran journalist explains the need for this book in the foreword: “As media practitioners, we admit that the word has a great impact on the mind where it paves the way for global dialogue across cultures or it may lead to culture clashes if it is badly used.." [more]

OPEC Wants Urgent Action From Saudi Arabia [Nov 2}
"The head of the OPEC cartel has said member countries must implement agreed production cuts if they want stable oil prices, Chakib Khelil has said Saudi Arabiamust take the lead as it is the world's biggest oil exporter. Mr Khelil said markets were waiting for OPEC countries to cut output, as agreed in Vienna last month, but said if Saudi Arabia took its time in cutting production, oil prices could be affected. At the Vienna meeting it was decided to cut production by 1.5m barrels a day,or about 5%, in order to halt the slide in oil prices. Qatar's Energy Minister, Abdulla bin Hamad al-Attiyah, hasmeanwhile rejected criticism over the production cuts, saying there was a lot of oil which no-one was buying because of the economic conditions.." [more]

48-Hour Fast Planned in Several Saudi Cities [Nov 2]
"A group of Saudi activists is planning the country's first public hunger strike to draw attention to the detention without charge of a dozen political reformists. The participants, who include lawyers, university students and relatives of the detained, could face arrest for their protest in the kingdom. The 48-hour strike is planned in several Saudi cities on Thursday and Friday of this week. Organisers said they are demanding that the government grant the prisoners fair and public trials or set them free.." [more]

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