News - April 2009

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

Netanyahu May Accept Some Form of Arab Plan [May 1]
"Israeli Prime Minister Binyamin Netanyahu plans to tell US President Barack Obama that Israel will accept 'some form' of the Arab Peace Initiative, the daily Jerusalem Post reported yesterday. The Post quoted sources close to the policy review being undertaken by the new Israeli government, Israel will compromise on the Palestinian issue to obtain more direct and aggressive US assistance on the Iranian front. It is not known if such help includes logistical support for Israeli strikes in the case of a military confrontation with Teheran, the report said. The Arab Peace Initiative was presented by Custodian of the Two Holy Mosques King Abdullah in 2002. It calls for normalizing relations between Arab states and Israel in exchange for a total Israeli withdrawal to the pre-1967 armistice lines and a “just solution” to the Palestinian demand for the return of refugees. If the traditionally hawkish prime minister indeed invokes the Arab Peace Initiative in his May 18 meeting with Obama in Washington, it would mark a major diplomatic concession for a Likud-Israel Beiteinu government.." [more]

Saudi-Expat Dialogue Forum Proposed [May 1]
"Saudis need to establish honest dialogue with the expatriate communities in order to create better understanding and foster harmony in the Kingdom’s social milieu, according to a well known social activist and writer. 'We should not be an island in the sea of society; we should open ourselves by establishing dialogue with our foreign workers,' said Najeeb A.R. Al-Zamil in his keynote address Thursday to the 2009 Toastmasters Division-M District 79 Annual Conference hosted by Saudi Aramco. 'Dialogue with the members of the expatriate communities here in Saudi Arabia is the best way of opening the channel of communication between us and them. Until this moment, I feel that we – us and them – are trapped in this sea of society on isolated islands, islands that have no bridges to connect them. From this very moment, let’s start to lay down the first plan of the connecting a bridge, which is the bridge of dialogues.'.." [more]

Foreign Marriages on the Increase [May 1]
" There has been a sharp increase in the number of marriages involving Saudi women and non-Saudis in recent years in the Kingdom, according to an official report. The Ministry of Justice's report also noted the trend for these marriage ceremonies to be presided over by Qadis, or Sharia judges, and attributed this to the reluctance of parents to conduct such marriages. The report said some 1,635 Saudi women had married foreigners in the last year. At the same time, a total of 2,769 Saudi men married foreign women.." [more]

Tadawul Leads GCC Market Recovery [May 1]
"With a 19 percent gain over its March close, the Saudi Tadawul All-Shares Index led the GCC market recovery after a slump on the global economic slowdown. All seven bourses in the Gulf Cooperation Council (GCC) states rose at the end of April because of fresh liquidity and government stimulus plans, traders said. Total market capitalization rose to $610 billion from $550 billion at the end of March and $600 billion at the end of 2008 – but remain at almost half the end-2007 level of 1.116 trillion dollars. The rise came despite a mixed performance by shares in listed firms in the first quarter of the year.." [more]

Intel to Set Up R&D Center in Kingdom [May 1]
"Intel will help establish a center for nano-manufacturing in the Kingdom of Saudi Arabia, located at the King Abdul Aziz City of Science and Technology (KACST) in Riyadh. Intel researchers will join with technologists and graduate students recruited from the Middle East, Turkey and Africa region (META) to work on processing and fabrication challenges. The Center of Excellence in Nano-Manufacturing (CENA) will focus its research activities on nano-processing and fabrication technologies for MEMS/NEMS, nano-sensors/networks, nano-devices, and synthesis and deposition of nano-structures. KACST is building a clean-room, and the new center will be “equipped with the latest state-of-the-art technologies and tools,” the partners said.  Intel will send a founding group of researchers to CENA, both to conduct research and to guide the graduate students and other researchers drawn from the META region.." [more]

Kingdom’s Non-Oil Sector to Suffer Sharp Slowdown [May 1]
"The growth in Saudi Arabia’s non-oil sector would slow sharply to 2 percent this year, as import demand eases and new credit issuance declines, Samba Financial Group said in its latest monthly report. Howard Handy, chief economist at Riyadh-based Samba, said 'the value of new letters of credit opened in February 40 percent lower than a year earlier.' 'Import demand has also softened appreciably, with the value of new letters of credit opened in February 40 percent lower than a year earlier,' Handy said. Saudi Arabia cut its reverse repurchase rate in April by a quarter of a percentage point to revive bank lending. The rate at which banks can deposit money with the central bank is now 0.5 percent. 'The reduction in the reverse repo rate seems unlikely to stimulate an immediate increase in private sector lending,'.." [more]

Banks in Kingdom Well-Positioned to Weather Downturn [May 1]
"Fitch Ratings says in a special report that Saudi banks are well-positioned to weather a more challenging operating environment, due to their strong fundamentals and government support. 'Given lower expected business volumes in 2009, Saudi banks will be highly reliant on tapping government-related projects and re-pricing their lending to maintain their good performance,' says Philip Smith, Senior Director in Fitch’s Financial Institutions team. 'Loan impairment charges, which are expected to increase as the credit cycle worsens and loans season, will be one of the main risks in 2009.' Nevertheless, Fitch expects Saudi banks to remain profitable in 2009. First-quarter 2009 (Q1’09) results already show a significant improvement on Q4’08, when domestic and international financial markets fell sharply. Additional impairments on financial assets, if markets do not improve, will add pressure on profitability in the upcoming year, but to varying degrees.." [more]

Group Seeks Shift on Organ Donations [May 1]
"For a young accident victim or chronically ill hospital patient, cultural taboos against organ donations can be a death sentence. Now a group of highly motivated and concerned Saudis, led by prominent businessman Abdul Aziz Alturki, has launched discussions on the creation of a society to raise awareness about the issue in Saudi Arabia. Donating organs to the sick or injured people is not considered to be an obligation by many in the Arab world and Saudi Arabia in particular. Yet hundreds, if not thousands, of Saudi men, women and children are forced to endure pain and misery in the absence of healthy organs. 'This is the need of the hour,'.. ..He admitted some religious scholars are reluctant to condone organ transplantation. 'A small fraction of Saudis are OK with only donating their organs among their close relatives. There is a lot of ignorance about the issue, and there ought to be a sustained campaign to increase awareness in our society,' he said. 'A lot of people think organ transplantation is like cutting one hand off and putting it on another. They have little or no idea about this critical issue.'.." [more]

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

Crown Prince in Morocco [Apr 30]
"Crown Prince Sultan arrived in this Moroccan city yesterday to convalesce after an operation in New York, the Royal Court announced. 'The crown prince has completed the necessary medical treatment in New York after a surgical operation that he had undergone earlier,' the Saudi Press Agency said quoting a Royal Court statement. Prince Turki bin Sultan, who is the assistant information minister, said on Tuesday that the crown prince was in 'excellent health' and would return to the Kingdom soon. Prince Sultan was in New York for treatment after undergoing a period of 'prescribed convalescence' in Morocco. He had previously traveled to the United States in November for medical tests.." [more]

Saudi 8-Year-Old Granted Divorce [Apr 30]
"An eight-year-old Saudi girl who was sold into marriage by her father has been given a divorce after an international outcry over the case, Saudi media reported Thursday. The marriage of the girl to a man reportedly in his 50s was annulled Wednesday in out-of-court settlement overseen by a new judge in the city of Onaiza, after the original judge in the case refused to bend to pressure to grant the divorce, several newspapers reported. Riyadh newspaper said the settlement was reached after the intervention in the case by an unidentified 'important personality.' The girl's father had sold her last year to the man in exchange for a dowry. When her mother found out, she petitioned the court for a divorce for the girl. The judge twice rejected her case -- though he stipulated that the marriage could only be consummated after the girl attains puberty. An appeals court sent the case back to the judge suggesting he reconsider, but he ruled again last week against divorce. The case garnered strong criticism from international rights groups and foreign diplomats raised the issue quietly with the Saudi government.." [more]

Saudi Slams US Claim of King Talks With Israel's Peres [Apr 30]
"Saudi Arabia on Thursday denied a US claim that King Abdullah met with Israeli President Shimon Peres late last year and demanded clarifications from Washington. An unnamed Saudi official, quoted by the state-run SPA news agency, said that the claim made by US Under Secretary for Political Affairs William Burns is 'completely false and fabricated.' The US State Department must 'deny the claim and provide clarification for the reasons behind such fabrication that does not serve the relations between the two friendly countries.' The official said that the allegations were carried by some media which quoted Burns as saying that King Abdullah spoke with Peres on the sidelines of an inter-faith dialogue conference hosted in November by the United Nations.." [more]

Young Saudi Men Go Wild Over Notorious Blue Pill [Apr 30]
"The kingdom has been gripped with a craze for erectile-dysfunction medications by young men - an occurrence which has many worried. A large number of married Saudi youths are flocking to pharmacies to take hold of Viagra - 'the little blue pill' - or any other stimulants that will give them more satisfaction. The catchy words and obscene images that appear on online advertisements of these medications are another factor luring youth into buying packets of these stimulants. According to Saudi doctors, this phenomenon reflects the spread of a negative sexual culture among the younger generation in the Kingdom. '[The] lack of an effective mechanism to monitor and curb these adverts was instrumental in spreading this mania among the youths,' they said.." [more]

KSA Stops Flights From Countries Hit by Swine Flu [Apr 30]
"Flights to the Kingdom from countries affected by the swine flu have been halted, a senior airport official said Wednesday as the World Health Organization raised the global flu alert level to 5, the second highest phase that indicates 'a pandemic is imminent.' Khaled Al-Medhel, Director General of King Khaled International Airport in Riyadh, said the incoming flights have been halted as a precautionary measure. He said flights to King Fahd Airport in Dammam have also been stopped, noting that strenuous efforts are under way for preventive measures to minimize the risk of the deadly virus that has killed 159 people in Mexico and, on Wednesday, a 23-month-old baby in the United States. On Tuesday, the Airlines Operators Committee (AOC), of which 30 international airlines are members, appealed for medical screening of passengers arriving at Saudi airports. Nine countries are known to be affected since the outbreak of the A/H1N1 swine flu was first revealed last week in Mexico.." [more]

Kings of Saudi and Jordan Align Positions on US Role in Palestinian Issue [Apr 30]
"Jordan's King Abdullah II and Saudi King Abdullah bin Abdul Aziz met ahead of Palestinian President Mahmoud Abbas’ planned trip to Saudi Arabia next week and discussed their positions on Middle East peace. According to SPA, the official Saudi news agency, the leaders discussed the “Palestinian issue” ahead of King Abdullah’s trip to Washington in the coming weeks. The meeting follows a gathering of Arab Foreign Ministers in Amman on 10 April, where the officials discussed strategy over the new Israeli government and Arab Peace Plan. Following the meeting King Abdullah stressed his position that Washington must make a serious push for peace in the region. The monarch took an equally hard line when he spoke with a US congressional delegation headed by Senate Minority Leader Mitch McConnell, also on 10 April, stating that the US must swiftly re-launch peace talks aimed at a two state solution. King Abdullah also made clear that the US should firm-up its position on the new Israeli government before the scheduled visit of Israeli Prime Minister Benjamin Netanyahu to Washington next month.." [more]

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

Saudi Crown Prince Heading To Morocco Today After Surgery [Apr 29]
"Saudi Arabia's Crown Prince, Sultan bin Abdul Aziz, is expected to leave New York today after a medical operation there in February, his son said Tuesday in remarks carried by the official Saudi Press Agency. Prince Fahd bin Sultan said his father is in good health and will be heading to Morocco to recuperate for a while and should return to the kingdom in the 'next few weeks,' the Abha-based daily Al Watan reported Wednesday. Last month, Saudi Arabia's ruler King Abdullah appointed Prince Nayef, the powerful minister of interior and a full brother of the crown prince, as the second deputy prime minister. The move clarified the issue of succession in the oil-rich monarchy, which has been ambiguous after the crown prince traveled abroad a few months ago to receive medical care.." [more]

Mecca Project Latest Saudi Credit Squeeze Casualty [Apr 29]
"A Saudi firm said on Wednesday it could not secure $3.3 billion financing for a property project near holy shrines in Mecca, in a fresh sign of the continued impact of the global financial crisis on the kingdom. Jabal Omar Development Co 4250.SE hired private investment bank Jadwa Investment in July to arrange the 12.4 billion riyals financing for its giant real estate project near the Grand Mosque on some of the world's most lucrative land plots.  'Jabal Omar Development Co announces that it has terminated the contract with Jadwa Investment for having not been able to secure financing within the deadlines they have promised,' Jabal Omar said in a statement posted on the Saudi bourse's website. The agreement provided for Jadwa to secure both long-term financing through the issue of a sukuk -- the Islamic alternative to conventional bonds -- and short-term financing.." [more]

Saudi Launches New Largest Desalination Project [Apr 29]
"Saudi Arabia has launched massive developmental projects worth a whopping USD 14.4 billion as part of the oil-rich country's efforts to beat the global economic crisis. The developmental projects unveiled by Saudi King Abdullah bin Abdul Aziz Al in the Eastern Province's newest industrial zone Jubail-II on Wednesday, include the world's largest desalination and power generation plant. 'King Abdullah's continuous interest for development projects across the country and particularly in Jubail has created a new sense of optimism in the business community,' Royal Commission for Jubail and Yanbu chief Prince Saud said. 'The world is going through a crisis but here we have not stopped investment. On the contrary we have increased investment'.." [more]

Faith Fighter Game Goes Offline After OIC Protest [Apr 29]
"The creator of the Faith Fighter online video game depicting religious figures such as the Prophet Muhammad and Prophet Jesus (peace be upon them) fighting each other said yesterday it has withdrawn the game after a Muslim protest. The game is 'incendiary in its content and offensive to Muslims and Christians,' a spokesman for the Jeddah-based Islamophobia Observatory of the Organization of the Islamic Conference said. Italian game publisher Molleindustria said on its website: 'Today after an official statement from the Organization of Islamic Conference we decided to remove the game Faith Fighter from our site.' The Observatory spokesman said the game would serve no other purpose than to incite intolerance. He called on the game’s Internet host to take 'immediate action' by withdrawing it from the web.." [more]

EU Expects Free Trade Pact With Gulf Arabs in 2009 [Apr 29]
"The European Union is confident it can overcome disagreements over exports and sign a free trade deal this year with the Gulf Cooperation Council (GCC), the EU foreign relations commissioner said on Wednesday. The GCC, which groups Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the United Arab Emirates, suspended EU trade talks in December, citing insistence on democracy clauses and European fears over the strength of the Gulf petrochemicals sector. 'I'm confident the FTA agreement will be signed this year,' Benita Ferrero-Waldner told reporters in Omani capital, Muscat, after an annual meeting between the two blocs to discuss the long-awaited free trade agreement. 'The stumbling block is still the export duties the human rights issue is just a matter of agreeing terms,' Ferrero-Waldner said.." [more]

Saudi to Set Up SR20bn Investment Firm [Apr 29]
"Saudi Arabia, the biggest economy in the Middle East, will start operations of a SR20 billion ($5.33bn /Dh19.5bn) investment company in six months.  'A consultancy will start the formation of the company next week,' Mansour Al Maiman, Secretary-General of the Public Investment Fund, said in an interview yesterday at a conference in Riyadh. 'It will target all sectors abroad and at home. We hope it will start work in six months.' Saudi Arabia, the world's largest supplier of oil, approved in July the creation of Saudi Arabian Investment Company, also known as Saudi Sanabel, according to a statement from the Saudi Press Agency. Sanabel will invest in local and foreign financial, commodities, treasury, asset management and real estate markets.." [more]

Saudi Wheat Stocks Cover 6-Month Needs [Apr 29]
"Saudi Arabia has enough wheat stocks to cover six months of domestic needs, a local newspaper quoted the head of the country's wheat import authority as saying. 'We are currently in the harvest season and we have a reserve for a six-month period,' Okaz newspaper cited Waleed Al-Khariji, the head of the Grain Silos and Flour Mills Organisations (GSFMO) as saying. The kingdom is facing pressure to build up strategic stocks of wheat amid expectations of a 30 percent fall in this year's wheat harvest after local producers scaled back production faster than expected. Saudi Arabia needs a minimum of 2.6 million tonnes of wheat per year.." [more]

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

Saudi More Secure After 2003-2006 Wave of Attacks [Apr 28]
"Six years ago, on May 12, 2003, Al-Qaeda opened a new front in its terror campaign by bombing three expatriate housing compounds in the Saudi capital Riyadh, killing 35 people. Today the country is calm again and the streets fairly safe. Domestic and foreign security experts say the government's intense efforts to round up anyone associated with extremist Islamic ideology, and to refocus intelligence gathering from pro-democracy activists to jihadist militants, have borne fruit. The 2003 bombing was the beginning of a series of attacks inside the kingdom that killed scores of foreigners and Saudis, and it jolted the government out of its complacency that Al-Qaeda had only the United States and Europe in its sights. Scores of militants, including key cell leaders, were killed between 2003 and 2006, and many hundreds more were rounded up.. ..The current threat to the country is no more or less than in western Europe or the United States, said a foreign security expert. Al-Qaeda followers who remain in hiding in Saudi Arabia are probably very few, with no ability to mount the kind of spectacular attacks they did in 2003, experts believe.." [more]

Saudi $5 bln State Investment Co to Launch Next Week [Apr 28]
"A new $5.33 billion investment firm owned by the government of Saudi Arabia, the world's largest oil exporter, will start operations next week, a senior Saudi official said on Tuesday. The government announced last year its intention to set up the firm, called Sanabil al-Saudia, with a mandate to invest in equities, bonds, real estate, foreign currencies and commodities in Saudi Arabia and abroad. 'It is expected that Sanabil's advisers will begin work next week,' said Mansour al-Maiman, secretary-general of the Public Investment Fund (PIF), the finance ministry's investment arm. The advisers' function is to take investment decisions, he told an investment conference in Riyadh. Saudi Arabia's state investments abroad have so far been managed by the kingdom's central bank, which gives few details of its investment strategy.." [more]

KSA Free of Swine Flu, Says Minister [Apr 28]
"Saudi Minister of Health Dr. Abdullah Al-Rabeah announced here Monday that the Kingdom has not registered any suspect cases of swine flu that has appeared in Mexico, some US states and other countries. In a press statement, he said the Ministry of Health has bolstered precautionary measures and ensured the availability of drugs. He said the Kingdom also called a meeting of deputy health ministers from six GCC states on May 9 to discuss the flu epidemic. Medical experts from WHO will also be present in the meeting, he said. The Saudi Ministry of Health Undersecretary for Preventive Medicine, Khaled Al-Zahrani, told Okaz/Saudi Gazette Monday that the Kingdom was safe from the Swine Influenza Virus (SIV). Al-Zahrani said the Ministry had taken all necessary preventive measures to stop the disease from entering the Kingdom in accordance with the WHO plan as governments around the world rushed to reduce the impact of a possible flu pandemic that has killed 103 people in Mexico.." [more]

Cabinet Denounces Racism [Apr 28]
"Saudi Arabia yesterday emphasized the significance of the recently concluded UN anti-racism conference in Geneva and voiced its concern over a number of phenomena that are considered the causes and sources of racism across the world. 'The Kingdom gives the utmost importance to the problem of racism and works to prevent racist practices, and in order to do that, it follows the regulations drawn from Shariah that emphasize humanity irrespective of sex, color and race,' the Council of Ministers said.. ..The just-concluded anti-racism conference in Geneva called for concerted efforts and a greater resolve and political will in fighting all forms of racism. The conference’s final document talked of a common aspiration to defy racism in all its manifestations and work to stamp it out wherever it may occur. The Untied States and a few other countries had boycotted the conference.." [more]

Forum to End Chaotic Fatwas: Ikrimah Sabri [Apr 28]
"The 19th conference of the International Islamic Fiqh Academy (IIFA), an offshoot of the Jeddah-based Organization of the Islamic Conference, is an extremely important event and will lead to ending the current chaos of people issuing random and contradictory fatwas (religious rulings) on thorny issues, said Ikrimah Sabri, grand mufti of Al-Quds and imam of the Aqsa Mosque. Sabri, who is also an IIFA member, said, 'We should unify fatwas so that people are not left puzzled on Islamic issues that concern them.' The mufti said he had no objection to ijtihad (the process of deriving rules on contemporary issues from the Qur’an and Sunnah) and described the academic differences among various Islamic schools of thought as 'healthy.'  'Ijtihad and differences among various schools enrich Islamic jurisprudence,' he added. Sabri said a final ruling would be issued on the topic of securitization and whether it is permissible under Shariah or not. 'We will reach a final ruling on this matter at the current session,' he said.." [more]

Need for Moral Orientation of Scholarship Students Stressed [Apr 28]
"Mukhtar Ahmad Al-Maulood, head of the Conciliation Department at the General Court in Makkah, underscored the need for strengthening the religious conviction of Saudi students chosen for scholarships abroad. 'Students should undergo religious orientation programs so that they can live in unfamiliar societies that have conflicting values without compromising their own moral and religious principles,' Al-Maulood told Arab News. The judge said he became convinced of the need to strengthen the religious sentiments of students — particularly of those who go abroad shortly after finishing secondary school — after his visit to Australia last Ramadan.. ..Al-Maulood said a lack of strong religious convictions would make the students easy prey to deviant groups.." [more]

Al-Jasser Sees No Change in Dollar’s Global Role [Apr 28]
"Saudi Arabian Monetary Agency Gov. Muhammed Al-Jasser said yesterday the dollar would not easily surrender its role as the global reserve currency and saw no sign investors were seeking “lifeboats” to flee the unit. 'In relative terms it is not a clear-cut case the dollar alone is in trouble and (that) people should be looking for lifeboats out of the dollar,' Al-Jasser told a conference on US-Saudi relations. 'That is not the case yet,' he said in answer to a question. Al-Jasser said the depth and liquidity of the dollar market would ensure its dominance as the world’s reserve currency, unless something went horribly wrong. 'Unless there were very serious dislocations or policy failures. I don’t see any change,' he said.." [more]

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

Saudi Arabia Considering Voting Rights for Females [Apr 27]
"Saudi Arabia is considering allowing women to vote in municipal elections this year but they would still be barred from running for office, a senior government official was quoted as saying on Sunday. Prince Mansour Bin Muteb, deputy minister for municipal and rural affairs, made the comments after attending a conference of municipal councils in the Eastern Province, Saudi newspapers reported. The meeting's recommendations included one that women should be eligible to vote, the liberal-leaning daily Al Watan said. Officials at the municipal and rural affairs ministry could not immediately be reached for comment.. ..The meeting in the Eastern Province, the first indication that the municipal vote will take place this year, recommended that the government continues to name half the members of the council.." [more]

Al-Qaida Targeting Saudis In India [Apr 27]
" The Middle East Newsline has confirmed Saudi Arabia has warned its nationals of the prospect of an imminent attack by al-Qaida in India. Al-Qaida was believed to have targeted Saudi diplomatic and trade interests in several Indian cities. 'We have detected this threat after [the November 2008 al-Qaida-aligned seaborne strike in] Mumbai,' an official said. 'We assess that al-Qaida believes it would be easier to attack Saudis in India than in the kingdom.'.. ..Saudi nationals in India have also been ordered to avoid appearing in groups. Officials said 350 Saudi university students were enrolled in India. India and Saudi Arabia have been engaged in an intelligence exchange in the effort to prevent al-Qaida attacks. Officials said the exchange intensified in wake of the Mumbai strike, in which nearly 200 people were killed. The Jedda-based Arab News quoted a senior Indian police official as saying that New Dehli intercepted communications between Islamic insurgency groups. The communications reported al-Qaida infiltration of India and plans to attack Saudi interests in Mumbai.." [more]

Saudis Use Soft Touch to Save Former Militants [Apr 27]
"It was seeing the now notorious photographs of American soldiers torturing Iraqis inside Abu Ghraib prison that set Abdullah al-Hammami on the path of jihad. 'I wanted to kill Americans,' he said. But instead he was arrested in Saudi Arabia as he was heading to Iraq in 2005 and spent 44 months in prison. Now he says that what he had wanted to do was wrong. 'We had a corrupted concept about jihad,' Hammami told AFP during an organised visit to the Prince Mohammed bin Nayef Centre for Care and Counselling. Saudi Arabia set up the pioneering rehabilitation facility three years ago for returnees from the US prison at Guantanamo Bay in Cuba and for militants arrested inside the country. Hammami had just come from a class in his 'resort', as his centre unit is called, where Sheikh Ahmed Hamid Jelani, a smiling, pudgy-faced cleric, led a discussion on the principles behind jihad, or Islamic holy war. The care centre is Saudi Arabia?s front line for ensuring that Al-Qaeda does not rear its head again.." [more]

Kingdom Committed to Petroleum Availability [Apr 27]
"Minister of Petroleum and Mineral Resources Ali Bin Ibrahim Al-Naimi reiterated here Sunday Saudi Arabia’s commitment to the availability of petroleum to the global market, especially for developing and emerging countries. Addressing the 3rd Asian Ministerial Energy Roundtable, he said the pledge was backed by concrete plans and actions, and by the commitment of some $70 billion for capital projects. 'Saudi Arabia remains committed to our massive expansion program to raise our production capacity to 12.5 million barrels per day by mid-year. This significant spare production capacity will mitigate any future shortages,' Al-Naimi said.." [more]

Saudi Stimulus Plan to Boost Demand, Output [Apr 27]
"Saudi Arabia has adopted a series of measures to ensure continuity of economic growth, said Finance Minister Ibrahim Al-Assaf. 'The most important among them is an investment program worth $400 billion in the public and oil sectors for the next five years,' he told a meeting of the International Monetary Fund and World Bank. The joint IMF-World Bank development committee was yesterday focusing on the aid to developing countries battered by the global financial crisis that is pushing millions more into poverty. Al-Assaf said Saudi Arabia’s economic stimulus program was aimed at strengthening the capabilities of the economy and increasing the Kingdom’s oil production capacity. 'We have also unveiled this year the largest fiscal budget in the Kingdom’s history, with the aim of increasing local demand and production. We have increased allocation for infrastructure projects by 36 percent compared to last year,' the minister added.." [more]

Intel and King Abdul-Aziz City of Science and Technology [Apr 27]
"Intel and King Abdul-Aziz City of Science and Technology (KACST), Kingdom of Saudi Arabia signed a collaborative research agreement to establish CENA, a world-class Center of Excellence in Nano-manufacturing Applications.. .. Establishing CENA is considered an important step towards growing Saudi Arabia's knowledge-based economy and boosting its competitiveness on both regional and international levels. It also demonstrates the Kingdom's dedication to enhancing graduate education, promoting advanced research and creating an adequate environment for innovation for researchers in the Kingdom and META region.." [more]

April 26-May 2, 2009

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

Gyms for Saudi Women Face Closure [Apr 26]
" Increasingly popular sports clubs and gyms for women in Saudi Arabia face shut-down because the government only licenses men's clubs, according to a Saudi newspaper report. Dozens of privately-established women-only gyms around the country, which strictly separates men and women outside family venues, could be closed because there is no regulatory authority for them, the Arab News said. While the General Presidency for Sport and Youth Welfare has the authority over men's gyms, it has not been allowed to regulate those for women, according to the report. That means that the women's gyms springing up in major cities are unlicensed and illegal, according to the report.. ..Lawyer Abdulaziz al-Qasim told the newspaper that no government department wants to take responsibility for the issue, lest they be attacked by conservative Islamic clerics, many of whom oppose sports activities for women.." [more]

Al-Qaeda Planning to Attack Saudi Arabia from Yemen [Apr 26]
"A British newspaper quoted General Mansoor Al-Turki, the spokesman for the Saudi Ministry of Interior, as speaking about his fears regarding Al-Qaeda. The Financial newspaper wrote that Saudi Arabian officials fear that Al-Qaeda is planning to attack their country from Yemen that they could not do that from inside. Al-Qaeda has changed its name to 'Al-Qaeda in the Arabian Peninsula' to bring together the extremist Saudis those ran away from their country and the armed Yemenis the newspaper reported.. ..The newspaper quoted analysts as saying that Al-Qaeda was reestablished in 2006 when Nasser Al-Wuhaishi, whose name is among the 83 people listed and who is said to be the organization's head, ran away along with other 22 people from prison in Sana'a.." [more]

Saudi King Visits Oil-Producing Area After Unrest [Apr 26]
"Saudi Arabia's King Abdullah visited the oil-producing Eastern Province on Sunday to launch development projects, following sectarian tension there among the kingdom's restive Shi'ite Muslim minority. The visit 'reflected the king's desire to have a first-hand knowledge of citizens' requirements and follow up on the progress of development projects,' newspapers quoted local governor Prince Mohammed bin Fahd as saying.  An official said the monarch would launch projects worth 54 billion riyals ($14.4 billion), mainly in the power generation and petrochemicals industries to create more job opportunities in a region that generates most of the kingdom's revenues.. ..The secession threat, which diplomats say is unprecedented since the 1979 Iranian revolution provoked anti-Saudi protests, followed clashes between the Sunni religious police and Shi'ite pilgrims near the tomb of Prophet Mohammad in the city of Medina, in the western region of the vast desert state. Saudi officials say Shi'ites make up less than 10 percent of the population, although diplomats believe the figure is closer to 15 percent. Most live in the Eastern Province.." [more]

Riyadh to Host GCC Investment Horizons Forum [Apr 26]
"Leading regional and international experts and economists will gather together here on Monday to discuss the ways and mechanism to protect Gulf investments from the fall out of the global financial crisis. The theme of the Third Round of GCC Investment Horizons 2009 Forum, which will kick start at Kingdom Hall of Four Seasons Hotel, is 'The Future of Gulf Investment within the global financial crisis.' Some 14 international experts in addition to senior government officials, prominent business and finance men and women, and academic specialists in the field of investment from the GCC states as well as from abroad will attend the event, according to the organising committee of the event. The participants also included governors of the Gulf central banks.." [more]

Saudi Arabia Looks to Foreign Farmlands to Feed Itself [Apr 26]
" Saudi Arabia is giving up its 30-year old programme of attaining self-sufficiency in wheat production and instead is looking at nearby foreign lands to secure its growing food requirements. The Saudi Grain Silos and Flour Mills Organisation (GSFMO) started importing wheat last September after Riyadh decided to cut wheat production by 12.5 per cent per year. A surge in input costs last year and the lower price paid by the government for locally-produced wheat compared to the international price has pushed local producers to abandon wheat farming faster than the government anticipated. The drop in Saudi wheat production has been rather rapid 30 per cent over the last year forcing Saudi Arabia to seek food security elsewhere.." [more]

OPEC, Asia Ministers Call for Oil-Market Oversight [Apr 26]
"OPEC and 13 Asian countries urged greater oversight of oil and other commodity markets to prevent a surge in prices after the global economy recovers from the worst recession since World War II. Participants in a ministerial energy roundtable in Tokyo sought limits on positions in over-the-counter trades and said “excessive” oil-price movements are 'undesirable,' according to a statement released after today’s meeting. They also called for 'continuous' investments to boost energy supplies. Asia’s biggest oil users met the world’s largest producers to discuss ways to revive spending and ensure stability in energy prices and supplies after the recession ends. Last year, the U.S. Commodity Futures Trading Commission initiated an investigation to determine whether crude prices reached record levels because of manipulation.. ..Saudi Arabia and Kuwait have called off or deferred ventures to find new fields, expand existing wells, and build refineries, according to Japan’s trade ministry. Falling investment 'is of great concern, notably for energy-sector projects adversely affected by oil price volatility and lower demand for oil, when long-range commitments of adequate and timely investment flows are needed to ensure future supply,' al-Naimi said.." [more]

April 19-April 25, 2009

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

King to Patronize Int’l Islamic Conference [Apr 25]
"Under the patronage of King Abdullah, Custodian of the Two Holy Mosques, Saudi Arabia will host the 8th conference of ministers of endowments and Islamic affairs in the Islamic World on May 23-24 in Jeddah. The conference is titled 'intellectual security, role of ministries of Islamic affairs, endowments, call and guidance in its achievements' with the participation of 62 states.. ..The conference would discuss a package of issues including a plan for upgrading mosques, the Islamic discourse between principles and changes, the role of the Islamic call in dealing with internal and external challanges and religions and cultural dialogue.." [more]

Al-Naimi Says Saudi Oil Output Below Target; Stockpiles to Fall [Apr 25]
"Saudi Arabia, OPEC’s biggest oil exporter, is producing less crude than its target and global stockpiles are likely to decline, according to Oil Minister Ali al-Naimi. The country is producing less than 8 million barrels of crude a day, al-Naimi told reporters today in Tokyo, where he is attending a meeting of Asian energy ministers. Stockpiles “will come down eventually,” he said. U.S. stockpiles have climbed to the highest since September 1990 even as Saudi Arabia leads the Organization of Petroleum Exporting Countries’ efforts to implement a 4.2 million barrel a day reduction in oil output from the group’s September levels. The country is producing 7.79 million barrels a day, less than its target of 8.1 million barrels a day. OPEC decided against any further output constraints at a March 15 meeting in Vienna on concern that a fourth cut since September risked increasing energy costs amid the global recession. The group will convene again there on May 28.." [more]

Imports of Saudi Private Sector Drop 40.7% in February [Apr 25]
"Imports of Saudi private sector dropped during February by 40.7 percent, hitting 8.3 billion riyals (about 2.22 billion U.S. dollar) comparing to 14.1 billions in the February 2008. The news came from a report issued by the Saudi Arabian Monetary Agency (SAMA) and published by the Saudi Arabian daily 'Al-Riyadh' on Saturday. It said the report gave indicators of which the most important is the drop of costs of imported goods, which were either due to the drop of prices because of global financial crisis and the availability of large stocks of commodities that have been imported against higher price, or due to the drop of consumer demand that prompted the importers to contract the volume of exports. Saudi imports have made a record of 18.8 billion riyals in June2008, a time that witnessed a major increase in inflation rates.."[more]

Saudi to Launch Largest New Field in June [Apr 25]
"State oil giant Saudi Aramco will launch in June the largest new field in its plan to raise crude capacity to 12.5 million barrels per day (bpd) by the end of this year, al-Hayat newspaper reported on Saturday. 'The Khurais oil project will open as scheduled in June,' al-Hayat newspaper quoted an unidentified source as saying. The $10 billion Khurais project is one of the largest ever single additions to global oil production capacity and the largest integrated oilfield project taken on by Aramco to date.." [more]

Prince Turki Lauds Saudi-US Ties [Apr 25]
"Saudi-US ties have been based on respect and common interests since the era of the late founder King Abdul Aziz Bin Abdulrahman and former US President Franklin D. Roosevelt, said Prince Turki Al-Faisal, President of the King Faisal Center for Research and Islamic Studies.  Delivering a lecture titled 'What we expect from the United States of America – a Saudi view' organized by Cornell University here on Thursday, Prince Turki stressed the depth and strength of bilateral relations between Saudi Arabia and the United States, based on respect and common interests.. ..He also commended the significant role being played by the United States at the international level and its efforts to deal with regional and international issues of common concern to Saudi Arabia and the international community.."  [more]

One Million Jobs to be Created in Makkah [Apr 25]
" An economic study suggests that Makkah province has the potential to create one million jobs over the next 10 years, Al-Madinah daily reported. 'The study outlining the strategic plan for the development of Makkah province provides the road map for the projects that could be undertaken in the province providing employment for one million Saudi youths in 10 years,' Jeddah Mayor Adel Fakieh, who is also the chairman of the Economic Committee of Makkah Province, said in a workshop on the economic situation of the province organized by the mayoralty on Wednesday. The study was undertaken at the directive of Makkah Gov. Prince Khaled Al-Faisal and prepared in collaboration with Saudi Arabian General Investment Authority (SAGIA).." [more]

Gulf OPEC Nations Say World Growth is Priority [Apr 25]
"OPEC Middle East oil producers said on Saturday they wanted oil output policy to help support world economic recovery. A month ahead of the next Organization of the Petroleum Exporting Countries, oil ministers from Saudi Arabia, Kuwait and Qatar showed no sign of veering from the moderate production policy which has helped keep oil prices on a leash not far from $50 a barrel since early March. 'We need to be pragmatic,' Qatari Oil Minister Abdullah al-Attiyah said. 'We will have to see how the economy will recover first.' Leading crude producer Saudi Arabia said $50 oil, a third of the record price hit last summer, was Riyadh's way of helping nurse the economy back to growth. Asked if $50 was supportive for growth, Saudi Oil Minister Ali al-Naimi said: 'Yes, that's our contribution to the world economy.' Naimi and fellow Gulf oil ministers meet their counterparts from Asia consumer nations in Tokyo on Sunday.." [more]

US-Saudi Relations in a World Without Equilibrium [Apr 25]
"On Monday, 27 April, I will be co-chairing a major national policy forum on US-Saudi economic and strategic perspectives on the Middle East and global economic and security system.. ..Ambassador of Saudi Arabia to the United States Adel Al-Jubeir has been called back to the Saudi Kingdom yesterday to advise the King in the meeting with Dennis Ross and other as yet unannounced officials. Other members of the Obama national security team are traveling as well -- to points not announced, but my guess is that we have a large chunk of our national security and diplomatic representatives focused on affairs in the region this weekend and next week. So, big stuff is up. A source in the White House has shared with me that there is a lot underway right now with Saudi Arabia -- and things are 'sensitive.' I have no idea what is sensitive -- but I do know that the US-Saudi relationship lies at the nexus of many key issues in the region -- from the solvency of King Abdullah's Arab Peace Initiative given trends in Israel and Palestine, to potential opportunities with Syria, to dealing with Iran's transnational meddling in the affairs inside other countries in the region, to Iraq's stability, and perhaps most vital at the moment -- to figuring out a stabilization scheme for Pakistan and Afghanistan, where Saudi Arabia has significant influence.." [more]

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

Saudi Prince Asks Obama for Action [Apr 24]
"There is an Arabic saying that a friend is he who tells you the truth, not he who tells you what you want to hear, and Saudi Arabia's Turki bin Faisal Al Saud was more than willing to tell President Barack Obama exactly what was on his mind. At a lecture in front of hundreds of students and faculty Thursday at Cornell University's Statler Hall, he urged the new U.S. president to stop talking the pretty talk and start walking the mighty walk, to use his power to galvanize other nations and bully world leaders into action. 'All the plans in the world about the Middle East have been presented and dissected already. We know what is needed to make peace. We don't want any more plans. We don't want President Obama to say to King Abdullah, 'What do you want me to do?' We want Obama to come and tell us what he wants,' Prince Turki said. 'The leaders in the Middle East, they want to be pushed by this big bear behind their backs to do things, so that they can say to whatever opposition they face in their own governments, 'The big bear made me do it',' he said.." [more]

Asia, Mideast to Debate When, Not If, Oil Should Rise [Apr 24]
"Asian and Middle East energy ministers may agree this weekend that letting oil prices rise eventually in order to stimulate investment is just as vital as keeping crude at $50 for now to aid the ailing world economy. But they may struggle to find common ground over how and when that ascent should start, and what producers should do in the meantime to balance the desire for relatively low prices against the risk of a growing glut of stockpiled crude. Members of OPEC including Saudi Arabia and Kuwait -- both of whom will attend Sunday's biennial meeting of Asian consumers and Gulf exporters -- have made clear they will tolerate $50 a barrel to help pull the world from recession. But they have also said they believe $70-$80 is a more appropriate long-term price. Many analysts also believe that slightly higher prices are necessary to encourage investment in new energy sources, both traditional and alternative, to avoid a repeat of the price shock of the past five years.." [more]

Saudi Women in London Promote KSA Image [Apr 24]
"Saudi women launched here Wednesday an association to promote a fair and accurate image of the Saudi people to Western societies, and to ensure better understanding of their culture. The Saudi Women’s Association (SWA) is a collaborative effort of its members and the continuous support and guidance of Princ ess Fadwa Bint Khalid. The members are a group of educated professional Saudi women from various backgrounds. 'We may differ in our fields of expertise but we are united by the aim of bringing the real image of Saudi women to light,' said Dr. Samira Osailan, the Chairperson. It is wrong to think that Saudi women 'are only shadows and silent,' she said. 'We will be lighting our own way and we’ll recite our own stories, stories of success and achievements.'.." [more]

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

Kosovo Plans Riyadh Embassy [Apr 23]
"Following Saudi Arabia’s recognition of an independent Kosovo this week, Pristina has announced plans to establish full-fledged diplomatic relations with the Kingdom. The diplomatic ties will boost political and commercial exchanges between the two countries. It will also allow Kosovars to travel to the Kingdom on their own passports. Currently Kosovars travel abroad using identity documents issued by the UN mission in Pristina. 'The Saudi recognition will ensure that Saudi embassies and consular missions abroad will accept Kosovo passports and issue visas to Kosovars,' said Bekim Sejdiu, the country’s ambassador to Turkey. Sejdiu, who has been lobbying for Arab support for Kosovo, was speaking to Arab News via telephone from Istanbul. Speaking on behalf of the Kosovo government and people, he expressed gratitude and appreciation for the Saudi recognition. Sejdiu pointed out that Saudi citizens do not require visas to enter Kosovo.." [more]

Saudis Renew Search for Food Security [Apr 23]
"On April 14, Riyadh announced the launch of a $800-million state company to support Saudi private sector investments in agricultural projects abroad. GCC countries' initiatives to safeguard food security by investing in agricultural projects abroad had stalled, illustrated by the Saudi Bin Laden Group's decision to postpone a planned $4.3-billion investment in Indonesian rice production. Last week's announcement by Riyadh represents an attempt to reinvigorate the search for food security in the face of financial difficulties. Cereal cultivation in the Gulf is in terminal decline because of depletion of water resources. At the same time, the population is expected to rise from below 40 million today to nearly 60 million in 2035. The need for food imports, which already meet 60 per cent of total demand, will grow.." [more]

Saudi Tourism Continues to Grow [Apr 23]
"Saudi Arabia's domestic tourism is enjoying remarkable growth in recent years due to increased mobility among its growing population and due to the development of tourism infrastructure. The amount of money spent on domestic tourism during the last year reached 37.5 billion riyals, according to the Saudi Commission for Tourism and Antiquities (SCTA). Domestic tourism added 47 billion riyals (2.7 per cent) to gross domestic product (GDP) during the year. This was against 36.4 billion riyals added to GDP in 2004. The tourism sector made up 6.9 per cent of non-oil GDP last year.." [more]

Saudi Second City Presses on With $45 bln Overhaul [Apr 23]
"Saudi Arabia's second city will push ahead with plans for a $170 billion riyal ($45 billion) overhaul intended to turn Jeddah into a trade and tourist centre to rival other Gulf Arab cities, officials said. The sprawling Red Sea port city of more than 3 million people has been struggling with inadequate infrastructure, pollution, densely populated slum areas, a water supply shortage and the lack of a city-wide sewage system, said Ibrahim Kutubkhanah, Deputy Mayor for Constuction and Projects. Once the diplomatic capital of the world's biggest oil exporter, the city has fallen into neglect and marginalisation over the past two decades. Now it's notorious for potholed streets with drains that occasionally brim over with rancid sewage. The 'Bride of the Red Sea', as locals dub it, has seen its population triple in 20 years -- partly because of the large numbers of pilgrims who head to nearby Mecca and then stay on, often illegally -- while services have failed to keep pace.." [more]

Saudi to Keep Oil Output Steady in May [Apr 23]
"Top oil exporter Saudi Arabia would pump about the same amount of crude in May as in April, industry sources said on Thursday. 'They are not cutting output overall,' one senior oil executive said. 'It is about the same.' Supply has been steady since February at just under 8 million barrels per day (bpd), sources said. State oil firm Aramco has told some refiners in Asia and Europe they would receive lower supplies than in April, with the possible implication the kingdom was reducing exports ahead of an OPEC meeting on May 28. But the supply fall to some was likely to be just fine-tuning previous cuts, sources said. Other customers could get more oil and the changes would have more to do with management of oilfields than anything else, one source said. 'They have made absolutely massive cuts since last summer,'.." [more]

Seized Saudia Jet Released [Apr 23]
"Saudi Arabian Airlines has won the release of a jetliner that was seized in Paris last week in a dispute with a leasing company, said Khaled Al-Mulhim, the airline’s director general. The Boeing 777-200 returned to the Kingdom yesterday morning after being held at Charles de Gaulle airport since Friday under court orders. The seizure followed a financial dispute between Saudia and Saint Nazaire-based Eagle Aviation.  Al-Mulhim said the seizure was 'arbitrary and illegal.' 'We are trying our best to settle the dispute once and for all,' he said, adding that the Saudi judiciary would be the reference for settlement.." [more]

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

Saudi Plan is Death Trap for Israel, Warns Lieberman [Apr 22]
"Israeli Foreign Minister Avigdor Lieberman said in remarks carried by the Israeli media on Wednesday that the US-backed Saudi peace initiative is a death trap for the Jewish state. Introduced in 2001, the Saudi initiative envisions a comprehensive peace deal between Israel and the whole of the Arab Middle East, based on a full Israeli withdrawal to its pre-1967 borders. The plan is vague, but generally defers to the Palestinians on the demand that so-called Arab "refugees" be allowed to flood the Jewish state. Earlier this week, US President Barack Obama stated that he sees the Saudi initiative as the basis for making peace between Israel and its neighbors, and indicated that it will be part of his government's foreign policy.." [more]

Saudi Arabia Lifts Restrictions [Apr 22]
"Saudi Arabia has lifted all restrictions on citizens of other Gulf Cooperation Council (GCC) states engaging in economic activities and independent professions in the Kingdom. This was aimed at accelerating the process of economic integration in coordination with the steps taken to establish the GCC Common Market. This decision was taken by a meeting of the Council of Ministers, chaired by King Abdullah Bin Abdul Aziz on Monday evening, and this was after reviewing the decision of the 28th Supreme Council of GCC leaders held in Doha last year.. ..The Cabinet also agreed to a resolution taken by GCC leaders on continuing work with the current mechanisms of the Customs Union until its remaining requirements are completed.." [more]

Pak Saudi Bilateral Trade Volume Crosses US$ 4 Billion [Apr 22]
"Saudi Arabia is among the 15 export partners of Pakistan with which bilateral trade volume has gone above US$ 4 billion per annum and this would be further increased in future. This was stated by the President Islamabad Chamber of Commerce and Industry, Mian Shaukat Masud during a meeting with Ambassador of Saudi Arabia to Pakistan, Ali Awadh Assari, who paid a farewell visit to ICCI here Wednesday.  Speaking on the occasion, Ali Awadh said that there was a need to devise a short and long term strategies to boost the trade and business relations between the two countries.. ..He said that Pakistan was facing many challenges including extremism and terrorism which can be resolved only through home made strategy adding that best minds and leadership was present here to meet any challenge, he said. Saudi Arabia would continue its diplomatic and financial assistance and efforts to help Pakistan for the development and prosperity of its people.." [more]

Saudi Knowledge City Eyes $271m Q3 IPO [Apr 22]
"Saudi property developer Knowledge Economic City Company (KEC) will launch an initial public offering in the third quarter to raise SR1.02 billion ($271.4 million), a report said. The commerce and industry ministry said on Saturday the firm would sell shares to the public within 30 days. Al-Eqtisadiah newspaper quoted KEC's chief executive Taher Bawazir as saying the IPO would take place in the third quarter. The firm will offer 30 per cent of its 339.3 million shares at 10 riyals each, he added.. ..Knowledge Economic City is among four mega property projects planned by the kingdom to diversify its oil-based economy and create jobs for a rapidly growing native population. The project hopes to spur the creation of knowledge-based industries and would include hotels and shopping centres for the hundreds of thousands of pilgrims who visit Madinah each year.." [more]

Hai’a Warning on Job Interviews for Women [Apr 22]
"The Commission for the Promotion of Virtue and Prevention of Vice, known as the Hai’a, has warned private businesses in Hail against interviewing female job applicants without a male guardian (or Mahram) being physically present. A newly established company in Hail said that all its interviews of female applicants for jobs in debt collection and marketing were done last week in the presence of the male guardians, brothers or fathers of the women, and Hai’a officers. The company did not allow women to enter the premises without a male guardian, said a spokesman of the company.." [more]

Revoke Death Penalty for Minors: NSHR [Apr 22]
"The National Society for Human Rights (NSHR) has called for the cancellation of capital punishment on minors. 'We have called for fixing legal age for punishments issued against suspects who are below 18, especially for capital punishment as they are minors and not responsible for their actions,' said Suhaila Zain Al-Abidine, chairperson of the committee for studies at the society. One of the problems is that under Shariah the state cannot abrogate the rights of victims or their families to demand blood money or death for the crimes of rape or murder.. ..'Minors have no right to spend their money except after reaching the age of 18. In the light of this it is better to fix this age for discretionary punishment. Minors sentenced for capital punishment should be kept in juvenile homes until they reach the legal age in order to carry out the punishment'.." [more]

Bangladesh PM Pushes For More Worker Deployment [Apr 22]
"Custodian of the Two Holy Mosques King Abdullah held wide-ranging talks with Bangladesh Prime Minister Hasina Wajed, who arrived here yesterday on a four-day official visit to the Kingdom. The summit-level talks focused on several crucial issues that included the prospects of deploying more Bangladeshi workers, trade, investment and other issues of mutual concern. 'Prime Minister Hasina, who is currently visiting Riyadh heading a 40-member delegation that includes Cabinet ministers and senior officials, had very fruitful discussions with King Abdullah,'.. ..The talks dealt with cooperation in manpower and business sectors, the spokesman said. The two leaders also shared their views on some regional and international issues. They agreed that there is a need to do more to boost ties in different sectors, including trade and commerce. The visit of the prime minister is also aimed at rallying support for the coalition government in Dhaka led by Hasina’s Awami League party.." [more]

SABIC Suffers Net Loss of SR974m [Apr 22]
"Saudi Basic Industries Corp. (SABIC), one of the world’s top five petrochemical companies, reported a net loss of SR974 million for its first quarter, which ended March 31, against last year’s income of SR6.92 billion during the same period. Announcing the quarterly report, Mohamed Al-Mady, vice chairman and chief executive officer of SABIC, said the net loss for the quarter is after a 'non-cash' charge related to the impairment of goodwill amounting to SR1.181 billion. Al-Mady pointed out that the continued decline in prices for most petrochemical products and metals led to a decline in profitability during the first quarter of 2009 compared to the same period last year.. ..'In spite of the repercussions of the global economic crisis, which negatively affected the performance of global companies and the petrochemical industry, resulting in bankruptcies, significant losses, closure of a large number of plants and staff demobilization, SABIC has maintained the same operational levels,'.." [more]

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

Saudi Marriage Laws May Change Within a Year [Apr 21]
"Saudi laws regarding a minimum age for marriage could be changed within a year, a prominent human rights activist in the conservative Muslim state said on Tuesday. Ibrahim al-Mugaiteeb, founder and president of the Human Rights First Society, recommended the minimum age should be set at 18, as the government reviews marriage of underage girls amid growing international criticism. There is no legal age limit for marriage in Saudi Arabia. It is not uncommon for men in their 40s and 50s to marry girls as young as 10 with the agreement that the husband does not consummate until the girl reaches puberty. 'The fact that leading clerics are addressing this issue makes me feel optimistic that we will soon see a change on this. I believe this could happen within five years, maybe within the next eight months,'.. ..Human Rights Watch were less optimistic. 'I am doubtful that the Saudi authorities will change anything quite so quickly,' Christoph Wilcke, a Saudi issues expert with HRW, said in an emailed statement.." [more]

Sabic Has First Quarterly Loss Since 2001 on Plastics [Apr 21]
"Saudi Basic Industries Corp. posted a surprise quarterly loss, its first since 2001, as global recession hurt demand for plastics and fertilizers at the world’s largest chemicals maker by market value. The first-quarter net loss was 974 million riyals ($259.7 million) after the company booked 1.18 billion riyals in goodwill writedowns, Riyadh-based Sabic said today in a statement. That missed the average estimate of 1.02 billion- riyal profit of three analysts surveyed by Bloomberg. The first simultaneous recession for six decades in the U.S., Japan and Germany forced Sabic to slash polyethylene and polypropylene prices and cut its workforce as demand weakened for plastics used in packaging and car bumpers. Sabic, also the kingdom’s largest steelmaker, reduced its domestic prices last year as construction orders slowed across the Persian Gulf. 'There are lower demand levels across all segments of Sabic’s business because of the global economic situation'.." [more]

OPEC, Asia Energy Ministers to Discuss Reviving Oil Spending [Apr 21]
" Asia’s biggest oil users will meet the world’s largest producers this week in Tokyo to discuss ways to revive spending and ensure energy supplies after the global recession ends. International Energy Agency head Nobuo Tanaka and Saudi Arabian Oil Minister Ali al-Naimi will lead delegates from the Organization of Petroleum Exporting Countries, Japan, China, and India in the talks on oil and gas investments, said a Japanese trade ministry official with direct knowledge of the meeting who spoke on condition of anonymity.. ..'OPEC nations need Asia’s clear commitment to sustainable oil demand growth in the coming years,' Hidetoshi Shioda, a senior energy analyst at Mizuho Securities Co. in Tokyo, said before the meeting. 'Even after the oil bust slashed OPEC’s revenue, Saudi Arabia and other Middle Eastern countries should have enough reserves to spend on drilling.'.." [more]

SAA Warning Over Seized Plane [Apr 21]
"Saudi Arabian Airlines (SAA) said Monday that the seizure of a rented aircraft over a financial dispute with Eagle Aviation would affect the continuation of its flights to France. Saudi Arabian Airlines Boeing 777-200 was seized at Paris’s Charles de Gaulle airport in a legal dispute over a $2 million debt, airport sources in Paris said Saturday. The sources said the airliner was seized Friday after its arrival from Riyadh by bailiffs acting on instructions from the Saint Nazaire commercial tribunal in the west of France. Eagle Aviation, an aircraft leasing firm based in Saint Nazaire, alleges that it is owed $2 million for providing the aircraft. SAA’s top official said that his company would ask for more from Eagle Aviation but did not confirm the amount involved in the dispute.." [more]

Health Care Reform: Ministry Seeks Cleveland Expertise [Apr 21]
"A high-ranking delegation from Cleveland Clinic yesterday started a four-day visit to the Kingdom on an invitation from the Ministry of Health.  “The visit is a continuation of an earlier visit to the Kingdom made by the clinic’s chief executive officer and president, Dr. Delos CosGrove, three weeks ago, during which he met with Minister of Health Dr. Abdullah Al-Rabeeah and discussed potential cooperation between the clinic and the ministry in a number of fields,” said David Strand, the chief operating officer of Cleveland Clinic. He said the current delegation would meet senior officials of the ministry and listen to their points of view on the current status of the health care system in the country.." [more]

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

Mitchell Concludes Brief Saudi Visit [Apr 20]
"US Middle East Special Envoy Geroge Mitchell on Sunday concluded his brief visit to Saudi Arabia. Mitchell met with King Abdullah bin Abdulaziz and Foreign Minister Prince Saud Al-Faisal for talks aimed pursuing peace in the region amid the US actively pushing for Israel to accept on the Israeli-Palestinian two-state solution. As part of his regional tour Mitchell also visited Palestinian territories, Israel, Egypt and Morocco as well as Algeria and Tunisia.." [more]

Musharraf Meets King [Apr 20]
"King Abdullah, Custodian of the Two Holy Mosques, received here Sunday former Pakistani president Pervez Musharraf. The audience was attended by Prince Naif Bin Abdulaziz, Second Deputy Premier and Minister of Interior, a number of other princes and senior officials.  Musharraf, who arrived in Riyadh on his way to perform Umrah (minor pilgrimage) in Makkah, later left for Madina. Talking to newsmen before boarding the plane at Islamabad airport, Musharraf urged Pakistanis, especially the media, to stop looking into the past and instead focus on the many challenges currently haunting Pakistan. At Riyadh Air Base, Musharraf was received by Minister of Transport Jubara Bin Eid Al-Suraiseri and a number of officials.." [more]

US Rejects Netanyahu’s Peace Talks Condition [Apr 20]
"The United States rejected Israeli Prime Minister Benjamin Netanyahu’s demand that the Palestinians recognize Israel as the state of the Jewish people as a condition for renewing peace talks between the two sides, a report said yesterday. The Israeli daily Haaretz quoted the US State Department as saying in a press statement, during special envoy George Mitchell’s visits over the weekend to Ramallah and Cairo, that Netanyahu’s demand is unacceptable to the US and that the Palestinians need not recognize Israel as Jewish state before talks. The State Department added that the US would continue to promote a two-state solution. The demand that the Palestinians recognize Israel as the state of the Jewish people was raised for the first time about 18 months ago in talks between Israel and the US ahead of the Annapolis Conference.." [more]

Bangladesh PM to Seek More Saudi Jobs for Expats [Apr 20]
"Bangladeshi Prime Minister Sheikh Hasina leaves for Saudi Arabia on Monday to push for more jobs for Bangladeshi expatriate workers in the oil-rich country, foreign ministry officials said. Bangladesh, one of the world's poorest countries, depends heavily on remittances from expatriate workers, but amid the global downturn many host countries are facing problems with their own slowing economies. 'More jobs for Bangladeshi expatriate workers will be one of the main agenda of talks with the Saudi government,' Hasan Mahmud, state minister for foreign affairs, told reporters. The number of Bangladeshis working abroad fell 38 percent in January-March due to declining demand in big labour markets, including Saudi Arabia, the United Arab Emirates and Malaysia.." [more]

Saudi Aramco, Sumitomo to Study Rabigh Expansion [Apr 20]
"Saudi Aramco said it had signed memorandum of understanding with Japan's Sumitomo Chemical (4005.T) for a feasibility study on an expansion of their Petro Rabigh 2380.SE refining and petrochemicals complex. In a statement on Monday, Aramco said award of the project management services contract was due in May and start up was expected by the third quarter of 2014.." [more]

Saudi Delays Moneefa Project 6 Mths [Apr 20]
"Top oil exporter Saudi Aramco has delayed the development of its Moneefa offshore oilfield project by at least six months, industry sources close to the project said. 'Aramco will proceed with the project and agreed on a six month delay,' a source familiar with the project plans told Reuters. That would push the start of the kingdom's largest-ever offshore oil project to 2012 from the initial schedule of mid-2011. Aramco put the 900,000 barrels per day Moneefa project under review in November last year to renegotiate contracts to reflect the slide in the cost of materials and construction as the global economy slowed. The scheme had an estimated cost of $9 billion when Aramco put it on hold. 'Aramco has been asking contractors to share the savings.. ..there have been some amendments on the contracts, like the schedule time and revised price items, but Aramco is moving forward,'.." [more]

Saudi Arabia Recognizes Kosovo [Apr 20]
"Saudi Arabia has decided to 'recognize the independence of Kosovo', this country's Foreign Affairs Ministry announced. Saudi Arabia is the second Arab country to make the announcement. A short statement from the ministry on Monday said that the decision came 'bearing in mind religious and cultural ties with the people of Kosovo, and respecting their wish for independence'. The statement added that Riyadh 'hopes this initiative will contribute to security, stability and prosperity of Kosovo and neighboring countries'. Kosovo's ethnic Albanians unilaterally declared independence in February 2008 .." [more]

Gitex 2009 Kicks Off in Riyadh [Apr 20]
"Abdul Rahman Al-Jaafari, governor of the Communications and Information Technology Commission (CITC), inaugurated yesterday 'Gitex Saudi Arabia 2009 — the 8th International Information Technology Exhibition” at the Riyadh Exhibition Center yesterday. Inaugurating the four-day event, the governor said that the Kingdom has become an important market for the telecommunication industry and has attracted both local and foreign investors. He said Gitex Saudi Arabia 2009 is a global event showcasing the Middle East’s Internet and IT development. More than 400 companies from 15 countries are exhibiting their products and services at the show, which is expected to draw over 100,000 visitors. Saudi Arabia accounts for 40 percent of total computer and IT application sales in the Middle East as a whole, worth close to $5 billion.." [more]

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

US Envoy Mitchell Holds Talks With Saudi King [Apr 19]
"US special envoy George Mitchell discussed Middle East peace efforts with Saudi King Abdullah on Sunday, on the latest leg of a regional tour aimed at reigniting the peace process. Mitchell also met with Foreign Minister Prince Saud al-Faisal and Saudi intelligence chief Prince Muqrin bin Abdul Aziz, according to a statement on the official news agency SPA. He arrived in Riyadh in the morning after stops in Israel, the Palestinian territories and Egypt. At each stop Mitchell emphasized US support for a two-state solution to the decades-old Israeli-Palestinian conflict, saying in Cairo on Saturday that Washington would exert 'great energy' toward that goal. 'It has been the policy of the United States for many years that the solution to the Israeli-Palestinian conflict lies in a two-state solution,' he told reporters after meeting Egyptian President Hosni Mubarak. Riyadh has also strongly advocated a two-state solution with its 2002 Arab peace initiative, which offers Israel blanket Arab recognition in exchange for creating a Palestinian state based on an Israeli pullout from occupied land.." [more]

Saudi Arabia Looks Into Minimum Age for Marriage [Apr 19]
"Saudi Arabia is looking into introducing a minimum age for marriage, a justice ministry official was quoted as saying on Sunday, after a court upheld the marriage of an 8-year-old girl to a man 50 years her senior. Al-Madina newspaper quoted Mohamed al-Babtain, the director of marriage officials at the justice ministry, as saying the ministry had started "looking into the legal age of marriage". He did not elaborate. Saudi Arabia has no legal age limit for marriage. Justice ministry officials were not available for comment. The newspaper also quoted prominent cleric Sheikh Mohsen al-Obaikan as saying that girls below the age of 18 should not be allowed to marry. 'Some parents marry off their daughters for personal or material interest or for various allurements with total disregard for the girl's interest,' Obaikan said. Obaikan called for a ban on 'marrying off little girls below the age of 18 to avoid these blights'.." [more]

ALJ President Nominated for Oslo Award [Apr 19]
"Mohammed Jameel, president of Abdul Latif Jameel Company, is among seven business leaders nominated for the Oslo Award, which is annually given to business leaders whose actions and commitments make an outstanding contribution to the promotion of ethical behavior and peace. The seven were nominated by an award giving committee consisting of three Nobel laureates — professor Muhammad Yunus (2006), Wangari Muta Maathai (2004) and professor A. Michael Spence (2001). The prize will be awarded to one of the nominees for the first time on May 14 in the City Hall of Oslo, said a press statement carried by Reuters. “The Oslo Award came as a natural consequence of discussions and deliberations during the Oslo summits on peace through trade in 2007 and 2008,” said Per Saxegaard, who represents the Business for Peace Foundation in Oslo, the award’s initiator.." [more]

UK Trade Mission Visits Kingdom [Apr 19]
"Sixteen companies comprising the latest UK trade mission to Saudi Arabia landed in Dammam on Friday. The mission, led by David Lloyd, senior consultant at the Middle East Association (MEA), sponsored by the British Offset Office and supported by UK Trade & Investment, is the association’s first of 11 visits planned this year. In Riyadh the mission will call on the chamber of commerce, SAGIA (Saudi Arabian General Investment Authority), Maaden, SABIC (Saudi Basic Industries Corp.) and the Saudi Committee for International Trade. In Jeddah calls will include the chamber of commerce, the Khadija bint Khuwailed Center for Businesswomen, the National Commercial Bank and the private sector. 'Increasingly, British exporters of goods and services are coming to see Saudi Arabia as the largest and most prosperous economy in the Middle East. It is now comfortably the largest economy in the Middle East and, under Custodian of the Two Holy Mosques King Abdullah, is modernizing socially, culturally and economically,'.." [more]

Saudi Arabian Ministry of Health Signs MoU with GE Healthcare [Apr 19]
"GE Healthcare, the healthcare business of General ElectricGeneral Electric Company, has signed a Memorandum of Understanding (MoU) with the Saudi Arabian Ministry of Health to train medical professionals from the Ministry. A recent McKinsey & Company study predicts that over the next 20 years, healthcare demand will rise by 240 per cent in the GCC countries. Healthcare infrastructure and the availability of qualified and trained personnel will need to expand considerably to cope with this demand. GE Healthcare has been established in Saudi Arabia for more than 25 years. The MoU agreement highlights GE Healthcare's commitment to Saudi Arabia, one of the largest health markets in the region. The aim is to continue to address current healthcare challenges in the area of training and clinical expertise by delivering GE's innovative services and solutions focused on transforming healthcare delivery via collaborations, partnerships and regional support from the public and private sectors.." [more]

PM Goes to Saudi Arabia [Apr 19]
"Prime Minister Sheikh Hasina's visit to Saudi Arabia will focus on crucial issues that include lifting of restrictions on recruiting Bangladeshi workers there and seeking Saudi support in trying war criminals. Hasina will also talk bilateral trade and investment with the Saudi King Abdullah bin Abdul Aziz Al Saud. She is leaving for the Kingdom tonight with a 35-member delegation that includes Hasina's sister Sheikh Rehana, son Sajeeb Wazed Joy, cousin Sheikh Rekha, Awami League (AL) presidium member Kazi Zafarullah and three ministers and two state ministers. 
Hasina's Saudi visit was postponed twice. During the four-day tour to the kingdom, Hasina will also perform umrah. Party sources said Hasina picked Zafarullah as a member of her entourage because he has close relations with Saudi government high-ups. Hasina will meet King Abdullah on April 21.." [more]

Former President Musharraf Leaves for Saudi Arabia [Apr 19]
"Former President, General (retired) Pervez Musharraf left for Saudi Arabia in a special plane provided by the King of Saudi Arabia, Shah Abdullah bin Abdul Aziz for his performing ‘Umra’. Before boarding the plane, talking to newsmen at the airport, Pervez Musharraf said that the country was in great danger and advised all to shun looking into the past instead urged upon the nation, especially the media to focus on the current myriad challenges haunting Pakistan.." [more]

Saudi Arabia, Dubai Top Yields in Realty Market [Apr 19]
"Average yields in Saudi Arabia's real estate market in the range of seven to 15 per cent are the highest in the GCC followed by Dubai's yields of nine to 14 per cent, new data has shown. Abu Dhabi property comes with a yield ranging between eight and 12 per cent while Qatar is between seven and eight per cent, Colliers International research has revealed. 'The real estate sector in Saudi Arabia is expected to recover the fastest among all other GCC real estate markets due to higher liquidity position than others,' said Ian Albert, Regional Director, Colliers International. 'Saudi Arabia is currently resisting the real estate downturn more than other GCC markets,' said Albert.. ..most markets, except for Saudi Arabia, are suffering from a chronic lack of liquidity.." [more]

April 12-April 18, 2009

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

US Supports Arab Peace Initiative [Apr 18]
"US President Barack Obama’s Middle East envoy, George Mitchell, called yesterday for the Arab Peace Initiative to be part of a planned US drive to create a Palestinian state. The 2002 Arab initiative offers Israel normal ties with all Arab states in return for a full withdrawal from the lands it seized in the 1967 Middle East War, creation of a Palestinian state with Jerusalem as its capital and a “just solution” for Palestinian refugees. 'The US is committed to the establishment of a sovereign independent Palestinian state where the aspirations of the Palestinian people to control their destiny are realized. We want the Arab Peace Initiative to be part of the effort to reach this goal,' Mitchell said after talks with Palestinian President Mahmoud Abbas in the West Bank city of Ramallah.." [more]

King to Open 1st Int’l Media Conference [Apr 18]
"King Abdullah, Custodian of the Two Holy Mosques, will patronize here on May 18-19 the 1st international media conference titled 'Future of news publishing.' The conference is being organized by the Ministry of Culture and Information in coordination with International Afra Organization. Dr. Abdulaziz Al-Khoja, Minister of Culture and Information, said that the King’s patronage of this international conference will be in recognition of media members and their roles in the development of thought and culture, adding that local, Arab and international media will be honored by the King’s inauguration of the conference. Dr. Khoja pointed out that international experts in the press and media industry from all over the world will participate in the conference along with experts and consultants from Afra and personnel of local press and media.." [more]

Saudi Stocks End Higher on Good US News [Apr 18]
"Petrochemicals and investment stocks led Saudi shares to a higher close after better-than-expected earnings by Citigroup Inc and General Electric Co boosted hopes that the US economy was stabilising. The all-share index ended 1.66 per cent higher at 5,466.49 points, its highest since October 26. Market heavyweight Saudi Basic Industries Corp (SABIC) gained 8.92 per cent at 52.50 riyals, its highest close since January 13 as investors geared up for the imminent announcement by the state-controlled firm of its first-quarter earnings. Kingdom Holding Co, one of Citigroup's largest shareholders, rose to 5.10 riyals, which is still about half its listing price.." [more]

Saudi Insurers Seek $69.3m in IPOs [Apr 18]
"Four Saudi insurance firms launched on Saturday initial public offerings to raise a total SAR260m ($69.3m). Axa Cooperative Insurance Co and Wiqaya Takaful Insurance and Re-insurance Co will offer a 40 percent stake, or 8 million shares each. Ace Arabia Cooperative Insurance Co will also offer a 40 percent stake equivalent to 4 million shares, while Al Rajhi Company for Cooperative Insurance will offer 30 percent, or 6 million shares. Shares in the IPOs, which will take subscriptions over the April 18-27 period, have all been priced at 10 riyals each, the stock market regulator said.." [more]

Saudi Arabia to Import 70,000t Wheat [Apr 18]
"Saudi Arabia expects to import 700,000 tonnes of wheat by August, a newspaper has quoted the head of its grains import authority as saying.  "The overall quantity that has been imported so far reached 470,000 tonnes and it is expected that we receive quantities of around 700,000 for the period to the holy month of Ramadan of this year," said Waleed al-Khariji, head of the state-controlled Grains Silos and Flour Mills Organisation (GSFMO), said in comments in al-Hayat. The country of 26 million consumes at least 2.6 million tonnes of wheat annually, Khariji said. Saudi Arabia became a major wheat importer in 2008 after deciding to cut wheat production by 12.5 per cent per year, abandoning a 30-year programme to grow its own that achieved self-sufficiency but depleted its water resources.." [more]

Saudi Cement Q1 Profit Down 12pc [Apr 18]
"Saudi Cement , Saudi Arabia’s second-largest cement producer, said its first-quarter profit fell 12.3 per cent after a government ban on exports.  Saudi Cement made SR152 million ($40.5 million) in the three months to March 31 down from SR173.3 million riyals a year earlier, it said in a statement posted on the bourse's website. 'The decline is due to the ban on exports of cement and its derivatives,' the firm said. Saudi Arabia introduced the ban on cement exports in June to ease supply bottlenecks amid soaring demand across the region. Like other cement firms, Saudi Cement posted an increase in first-quarter earnings compared to the fourth-quarter of 2008.." [more]

Booming Tourism Industry Likely to Boost Employment [Apr 18]
"Travel experts said that the 200 sunny days the Kingdom enjoys everyday will attract a flow of tourists into different parts of the country. The industry just needs more improvement and dedicated work. And it is happening. In 2007 alone, investors put more than SR30 billion into tourism projects in the Kingdom, said the CEO of Fast Future Research during the closing day of the forum of the Saudi Travel and Tourism Investment Market (STTIM)-2009, Thursday, organized by the Saudi Commission for Tourism and Antiquities (SCTA). Future plans for the tourism industry in the Kingdom come with an ambitious employment target to achieve. In 2020, the market should be able to provide 900,000 jobs in the industry, or 40 percent of current government jobs, the CEO said.." [more]

Building Show Ends With Record Turnout and Deals [Apr 18]
"Exhibitors at the Saudi Building and Interiors Exhibition (sbie), which ended on Thursday night after a five-day run, reported several successful deals and a record turnout of visitors. Egypt, Turkey and China, which were among the major participants said their exhibitors had a rewarding experience as they entered into deals or were in the process of reaching partnerships with local businessmen.. ..The US was represented by Department of Commerce, Office of Textiles and Apparel, which is a one-stop-shop for sourcing US technical, industrial, hospitality, contract and medical textiles. Mary Lynn Landgraf, senior international trade specialist, said: 'I was pleasantly surprised with the warmth we received from the Saudi community and the excellent response to our products from some of the major business houses, which will ultimately translate into huge orders.'..' [more]

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

Saudi Arabia: Secret Cameras to Monitor Internet Cafe Users [Apr 17]
"The Saudi authorities have ordered all Internet cafes the country to install hidden cameras to monitor Internet users and catch those who access Al-Qaeda linked jihadist sites, according to the interior ministry. Internet cafes will also be required to identify all their customers. People who do not have a licence will be forbidden to access the Internet via satellite connections. Minors under 18 years of old will not be allowed to use Internet cafes, which will be required to close at midnight. Saudi government concerns over extremism in the conservative kingdom deepened after Al-Qaeda-linked militants launched a campaign to destabilise the kingdom in May 2003, targeting government buildings, energy installations and foreign residential compounds in suicide bomb attacks.." [more]

Scholars Warn of Increasing Threats to Gulf Identity [Apr 17]
"Gulf countries will lose their identity if they fail to improve their local population ratios and to address the tradition-progress paradox, Gulf scholars have warned. 'The drop in the number of indigenous Arabs of the total Arabian Gulf population is a serious threat to our identity in the near future. We have a really difficult situation when we know that the number of Arabs in the total population of Qatar and the UAE does not exceed 17% and that the other Gulf countries host a massive number of foreigners,'.. ..Gulf societies need to uncompromisingly implement decisions taken to reduce the number of foreigners in order to ensure that their cultures and values are not eroded or negatively affected, Al Ghanim said. 'Some Gulf countries have been reluctant to sign international labour conventions because such accords impose equal rights and wages. These countries have pledged to take action to reduce the presence of foreign labour through applying strict immigration laws and putting a residence cap. But there is troubling laxity in the application of the law, which allows foreigners to eventually become Gulf citizens, and this augments the threats to the Gulf identity,' she said.." [more]

Companies and Banks Will Begin Trading Bonds in Saudi Market [Apr 17]
"The Chairman of the Saudi Capital Market Authority, Dr Abdul Rahman Al Tuwaijri, said he expects companies and banks to begin trading bonds (sukook) in the Saudi market as early as this year. In an interview with CNBC Arabiya, Al Tuwaijri said that the authority is technically preparing the capital market to accommodate the trading of sukook and noted that the authority urges companies in general, and banks in particular, to launch bonds for Saudi nationals trading in the market. He also explained that easy access to loans in the past was among the reasons for the delay in launching bonds. Highlighting the importance of transparency, Al Tuwaijri confirmed that all companies are committed to releasing their financial results on time, in addition to the market enjoying very high levels of transparency.." [more]

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

US Calls Saudi Child Nuptials a Clear Human Rights Violation [Aug 16]
"The United States on Thursday called the case of an 8-year-old Saudi girl married to a man 50 years older a 'clear and unacceptable violation of human rights,' in a rare criticism of its oil-producing ally. State Department spokesman Robert Wood said the United States has frequently raised the issue of child marriages with Saudi officials, although he could not say whether this specific case had been raised. A court in the town of Unaiza in Saudi Arabia upheld for the second time last week the marriage of the Saudi girl to a man who is about 50 years her senior on condition he does not have sex with her until she reaches puberty.. ..On Monday, the UN children's agency Unicef also expressed concern over the issue. The agency's chief, Ann Veneman, said consent to marriage could not be free and full when either party was too young to make an informed decision.." [more]

Contractors Tighten Belts for Saudi Refinery Bids [Aug 16]
"Contractors will have made aggressive cuts to cost estimates in bids due later this month to build a new refinery for Saudi Aramco and Total (TOTF.PA), sources at contracting companies said on Thursday. Oil's slump to around $50 a barrel from a peak over $147 last year has forced cost cutting across the industry, and contractors that were turning down work a year ago now find themselves in a fierce competition for what is left, sources said. 'With the current economic situation, there are not many projects,' one contractor planning to bid to build the refinery told Reuters. 'Competition is much more severe. We need to sharpen our pencils.' Top oil exporter Aramco and French energy giant Total have said they want billions of dollars cut from the construction costs for the refinery to reflect the slump in the prices of raw materials since the global economic downturn took hold.. ..The two companies delayed the bidding round for the packages from November to April. Bids for some of the 12 packages on offer were due in on April 20, while the rest were due in by April 27.." [more]

U.S. Professor Becomes First Jew to Win 'Arab Nobel Prize' [Apr 16]
"An American professor has become the first Jew to win the King Faisal International Prize in Medicine, popularly known as the 'Arab Nobel Prize.' Stanford professor Ronald Levy, who heads the university's Oncology department, told Haaretz that as an American Jew married to an Israeli it never crossed his mind that he might win the Saudi-financed competition. 'I didn't think there was much chance, and I forgot about it,' Levy said. 'It's an Arab country, and I didn?t think they are likely to pick a Jew.'.. ..The prize, which included $200,000, a medal, and a certificate in English and Arabic, also came with a dinner with Saudi King Abdullah. Levy told Haaretz he was certain his wife and daughters would not be able to attend the ceremony, as their passports are full of visas from Israel and his wife and one of his daughters were born in Israel. To his surprise, when he went to the Saudi consulate in Los Angeles, the attendants stamped their passports, and no one asked any questions. In spite of their fears before the trip, Levy said his family was treated to royal hospitality during their entire stay in Saudi Arabia.." [more]

Saudi Arabia Donates US$ 5 Million for People Affected by High Food Prices in Sierra Leone [Apr 16]
"The United Nations World Food Programme (WFP) has welcomed a donation of US$5 million from the Government of Saudi Arabia to fight the impact of high food prices.The donated food will be used to assist 286,000 vulnerable people, mostly in urban and peri-urban areas, who have been most affected by the high food prices. The beneficiaries include pregnant and lactating women, malnourished children below five, school children, and other vulnerable groups.. ..WFP named the Custodian of the Two Holy Mosques King Abdullah of Saudi Arabia ‘Champion in the Battle Against Hunger’ in February 2009 during the Annual Meeting of the World Economic Forum in Davos, Switzerland.." [more]

BNP to Launch Saudi Investment Bank Unit [Apr 16]
"French bank BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz) is about to set up an investment banking unit in Saudi Arabia and is considering launching several Islamic investment funds across asset classes, executives said on Thursday. Jacques Tripon, head of Islamic banking at BNP, told the Reuters Islamic Banking and Finance Summit in Bahrain that the new Saudi subsidiary would focus on advisory services and capital markets activities. 'We decided to set up our own subsidiary which will be separate from the commercial banking side. It's in the final stage,' Tripon said. BNP is already active in the kingdom with a commercial banking unit. Rami Falah, head of Islamic Banking Middle East at BNP, said the lender was also considering launching up to two new Islamic investment funds, possibly for commodities or equities, by the end of the year.." [more]

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

Saudi Speeds Up Education Reform, Clerics Resist [Aug 15]
"Accused of promoting the religious radicalism that inspired the Sept. 11 attacks, Saudi Arabia has stepped up efforts to reform its school curriculum, but clerical opposition means change will be slow, analysts say. King Abdullah appointed a new team to lead the education ministry this year in a surprise reshuffle in the conservative Islamic state, where reformers say promises of change when Abdullah took the throne in 2005 have amounted to little.. ..Foreign and Saudi critics said Saudi educational material permitted the killing of non-Muslims and promoted the idea of cleansing Muslim countries from Western cultural influences. Saudi government concerns deepened after al Qaeda-linked militants launched a campaign to destabilise the kingdom in May 2003, targeting government buildings, energy installations and foreign residential compounds in suicide bomb attacks. Youssef said 'national dialogue' discussions presided over by new deputy education minister bin Muammar had helped the government mobilise support for a new approach.." [more]

Saudi Showing Muted Interest in Contributing Funds for Pak [Apr 15]
"America's bid to raise billions of dollars for Pakistan at the donors' meet in Japan appears to have run into rough weather with their key ally Saudi Arabia showing 'muted interest' in helping the cash-strapped PPP-led government which has uneasy ties with Nawaz Sharif, considered close to Riyadh. The Obama Administration's effort to help Pakistan raise four billion to five billion at the Friday conference in Tokyo 'is coming into conflict with Saudi Arabia, which is showing only muted interest' in supporting Pakistan President Asif Ali Zardari, the Wall Street Journal reported. 'The big outstanding question about the conference is Saudi Arabia,' a senior official involved in the aid discussions was quoted as saying, adding that 'they are closely aligned with Sharif,' who spent several years in exile in the kingdom.." [more]

Saudi Firm in $400 Million Farm n Africa [Aug 15]
"Saudi private firm Al Rajhi for International Investment plans to spend at least $400 million by 2011 to produce wheat and maize in Egypt and Sudan, a newspaper reported on Wednesday. The firm has started farming 42,000-hectares of farmland in Egypt this year and expects the first harvest towards the end of May, al-Jazirah quoted chief executive Khaled al-Melahi as saying. It has started planting 52,500-hectares of farmland in Sudan with sorghum to pave the way for future cultivation, he said. Saudi Arabia has urged companies to invest in farm projects abroad after deciding last year to reduce wheat production by 12.5 percent per year, abandoning a 30-year-old programme to achieve self-sufficiency that had depleted the desert kingdom's scarce water supplies.." [more]

Malaysia, Saudi Arabia Are Top Global Takaful Markets [Aug 15]
"Saudi Arabia and Malaysia are the top two Takaful markets worldwide, with contributions totalling US$1.7 billion and US$797 million respectively in 2007, Ernst & Young's World Takaful Report 2009 has revealed. It said global Takaful contributions rose to US$3.4 billion in 2007 compared to US$2.5 billion in 2006. Unveiled at the Annual World Takaful Conference 2009, the report said Takaful, or syariah-compliant cooperative insurance, had been expanding by tapping into large Muslim markets globally. However, it noted that there were still significant untapped markets in Asia and the Middle East and the North Africa region. 'The Gulf Cooperation Council (GCC), Malaysia and Sudan are the top three markets for Takaful while the Indian sub-continent, Indonesia, Egypt and Turkey remain the least penetrated Muslim markets,' the report said.." [more]

Tanzanian President Arrives in Riyadh [Aug 15]
"Tanzanian President Jakaya Mrisho Kikwete arrived here yesterday for talks with Custodian of the Two Holy Mosques King Abdullah and top Saudi officials. The president was received on arrival at the Riyadh Base Airport, King Abdullah, Second Deputy Premier and Minister of Interior Prince Naif, Acting Riyadh Gov. Prince Sattam and other senior officials.." [more]

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

Saudi Arabia to Regulate Girls' Marriages [Apr 14]
"Saudi Arabia plans to regulate the marriages of young girls, its justice minister was quoted as saying on Tuesday, after a court refused to nullify the marriage of an 8-year-old to a man 50 years her senior. The justice ministry aims 'to put an end to arbitrariness by parents and guardians in marrying off minor girls,' Justice Minister Mohamed al-Issa told al-Watan newspaper, partially owned by members of the royal family.. ..The minister's comments suggested the practice of marrying off young girls would not be abolished. The regulations will seek to 'preserve the rights, fending off blights to end the negative aspects of underage girls' marriage,' he said. A court in the Saudi town of Unaiza upheld for the second time last week the marriage of the Saudi girl to a man who is about 50 years her senior, on condition he does not have sex with her until she reaches puberty. The minister added that any new regulations would be made under the provision that the requirements of universal laws were not binding to religious commandments. Officials at the ministry could not be reached for comment.." [more]

Tensions in Saudi Shi'ite Town Over Secession Call [Apr 14]
"The street graffiti is so brazenly political in Saudi Arabia's Eastern Province that it hardly seems like Saudi Arabia at all. 'Down with the government,' 'Death to the traitors' read the messages on the walls of Awwamiya, a small town in the eastern region on the Gulf coast where most of the conservative Sunni state's Shi'ite minority lives. The fear of landing in jail would normally curb such talk, but right now the mood in the Shi'ite region is more enflamed that normal. Hundreds of Shi'ites have staged protests in recent weeks as police searched in vain for firebrand preacher Nimr al-Nimr, who breached a taboo to suggest in a sermon that Shi'ites could one day seek their own separate state.. ..'Graffiti like this underscores the fact that moderate Shi'ites are losing influence on public opinion,' said Nasrallah al-Faraj, a Shi'ite from Awwamiya who is among hundreds who have signed a petition asking police to stop their search for Nimr. 'Nimr was only expressing what the majority here feels'.." [more]

Saudi Central Bank Cuts Reverse Repo Rate [Apr 14]
"Saudi Arabia's central bank has cut the overnight reverse repo rate by a quarter percentage point as inflation in the Arab world's largest economy continues to inch down. The Saudi Arabian Monetary Agency said Tuesday that it has lowered the overnight reverse repo rate from 0.75 percent to 0.50 percent. It cited the drop in inflation as well as ample liquidity in the banking sector. The OPEC powerhouse's inflation rate has fallen for five consecutive months, hitting 6 percent in March - its lowest rate in over a year. Inflation stood at 9.6 percent in March 2008.  The kingdom has been better able to offset the global economic meltdown's impact due to cash surpluses accrued from oil's rally in the first half of 2008.." [more]

SR3b Bid For Food Security [Apr 14]
"The Cabinet on Monday approved establishing a SR3 billion agricultural investments company that will partner the Saudi private sector in the quest to achieve food security in the Kingdom. The move is in response to an appeal by King Abdullah, Custodian of the Two Holy Mosques, to ease the burden of high cost of living on citizen and expatriate, said Ibrahim Bin Abdul Aziz Al-Assaf, Minister of Finance and GIF Chairman.  To be called Saudi Company for Agricultural Investment and Animal Production (SCAIAP), the new joint-stock company will be fully owned by the General Investment Fund (GIF). SCAIAP will invest in establishing agriculture and livestock production companies in partnership with Saudi businesses experienced in the sector.."  [more]

Kingdom Bans Illegal Decoder Boxes [Apr 14]
"The Saudi Ministry of Culture and Information (MoCI) in collaboration with the Ministry of Commerce and the Ministry of Finance is implementing a nation-wide ban on illegal Pay TV decoder boxes. The move marks a major milestone in the Kingdom’s intellectual property rights protection efforts. The Ministry of Finance has issued directives to Saudi Customs to further study implementation strategies compatible with the program and has announced a ban on illegal decoders. In a similar move, the Ministry of Commerce has sent directives to the ministry labs in Saudi Customs as well to prohibit the import of illegal decoders through the country’s ports of entry. MoCI Undersecretary Abdul Rahman Al Hazzaa said: “We are working hard to establish the KSA as a leader in piracy reduction among GCC countries and are currently aiming to become one of the stricter implementers of anti-piracy measures in the region.." [more]

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

Saudi's Annual Inflation Slows to 6% [Apr 13]
"Saudi Arabia's annual inflation rate slowed to six percent in March from 6.9 percent in February, the Central Department of Statistics said on Monday. Saudi Arabia's cost of living index rose to 121 points by Mar 31 compared with 114.2 points a year earlier, the authority said on its website. Inflation in the world's top oil exporter reached its slowest rate in at least 15 months in February.." [more]

Nuclear Industry Taking Shape in the Gulf [Apr 13]
"Oil and Gas rich Arab and Gulf nations have started thinking about life, once the petroleum boom is over. Leading world oil producers like Saudi Arabia, Kuwait and even gas rich Qatar are firming up proposals to set up nuclear power plants to meet future energy needs. They are queuing up behind UAE which took the lead by pledging $10 million towards an International Atomic Energy Authority administered low-enriched uranium fuel bank to ensure a nuclear fuel supply. A new industry is swiftly taking shape around what is expected to be the Arab world's first independent civil nuclear power programme, an engineering, safety and risk management consultancy has said.." [more]

Abdullah, Abbas Discuss M-E Peace Efforts [Apr 13]
"King Abdullah, Custodian of the Two Holy Mosques, and Palestinian President Mahmoud Abbas on Sunday discussed Middle East peace efforts hours after Israeli Prime Minister Benjamin Netanyahu told Abbas he was willing to hold talks with the Palestinians. Palestinian embassy spokesman Mahir Karaki said Abbas also updated King Abdullah on reconciliation talks between rival factions Fatah and Hamas. 'President Abbas briefed the King about the latest developments regarding peace prospects, including the Arab peace initiative which all Arabs have agreed on,' he said. 'This initiative is still valid and stands as the basis of negotiations for peace with Israel,' Karaki said. 'But the Israeli side has turned their back on the two-state vision.'.. ..Abbas’s visit, together with Prime Minister Salam Fayyad and chief Palestinian peace negotiator Saeb Erakat, followed a meeting of Arab foreign ministers Saturday in Amman to voice support for a two-state solution.." [more]

More Opportunities in Desal Projects [Apr 13]
"Saudi Arabia’s tourism sector offers a lot of opportunities for companies and contractors specializing in desalination and water treatment projects, said Fawaz Al-Malki, chairman of AES Arabia Ltd. Tourism projects including resorts, hotels, and recreational cities require no less than 50,000 cubic square meters of desalinated water annually, he said. 'This represents about 14 percent of private sector desalination projects,” he said. Such projects also demand treatment of some 350,000 cubic meters of sewage water annually'.. ..'The new development projects announced by the Saudi government in the higher education sector including the opening of new universities as well as the mega economic cities offer a lot of opportunities for desalination and water treatment projects,'.." [more]

Saudi Arabia Bans Meat Imports From Ethiopia [Apr 13]
"Saudi Arabia has banned the import of meat from Ethiopia, the Fortune newspaper reported, citing the Saudi embassy in Ethiopia. The imports were banned because of health concerns, the Addis Ababa-based newspaper said, citing unidentified people with knowledge of the ban.  Saudi Arabia is the biggest buyer of Ethiopian meat, accounting for about 40 percent of shipments.."  [more]

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

Saudi Judge Upholds Man's Marriage to 8-Year-Old [Apr 12]
"A Saudi mother is expected to appeal a judge's ruling after he once again refused to let her 8-year-old daughter divorce a 47-year-old man, a relative said. Sheikh Habib Al-Habib made the ruling Saturday in the Saudi city of Onaiza. Late last year, he rejected a petition to annul the marriage. The case, which has drawn criticism from local and international rights groups, came to light in December when Al-Habib declined to annul the marriage on a legal technicality. His dismissal of the mother's petition sparked outrage and made headlines around the world.. ..Zuhair al-Harithi, a spokesman for the Saudi Human Rights Commission, a government-run group, told CNN that his organization was fighting child marriages. 'Child marriages violate international agreements that have been signed by Saudi Arabia and should not be allowed,' al-Harithi said. Child marriage is not unusual, said Christoph Wilcke, a Saudi Arabian researcher for the international group Human Rights Watch, after the initial verdict.." [more]

Saudi to Roll Out All Purpose National ID Cards [Apr 12]
"The Saudi government is looking to roll out an all purpose electronic identity card that will hold wide ranging information on each citizen, including their health records, driving licence and passport details, it was revealed on Sunday. The plan has been drawn up by the Ministry of the Interior as part of beefed up security measures for the kingdom’s residents, according to unnamed sources commenting in an interview with Saudi daily the Saudi Gazette. It follows Saturday’s roll out by the Civil Status Department in Riyadh of its new central national ID card, which holds each resident's information on one card that can be read through smart card reading machines at state-run facilities.." [more]

Saudi Shares Jump 3.2% Fueled By Bank Earnings [Apr 12]
"Saudi Arabia’s Tadawul All Share Index jumped 3.2 percent to 5,200.17 points on Saturday - the first trading day of the week - the highest level since Jan. 7. The index has gained 9.3 percent this year after losing more than half its value in 2008 as oil prices dropped. The market rally was led by banks after Al-Rajhi Bank - the Gulf’s largest lender by market value - posted a gain in quarterly profit, as speculation grew that the worst of the credit crisis is over and government measures will help revive the global economy.. ..Banks in the Kingdom have moved away from relying on income related to stock market activities since a 2006 bourse crash.." [more]

Lukoil Finds 2 Gas Fields in Kingdom [Apr 12]
"- Lukoil has opened twofields in Saudi Arabia, Lukoil President Vagit Alekperov told journalists on Thursday. 'We have discovered two gas condensate fields at our block,' he said. The two fields have C1 + C2 reserves of 70 million tons of condensate and 300 billion cubic meters of gas, he said. The reserves indicate the fields could be profitable, he said. The company will need another two and a half years to carry out a full appraisal, he said. 'After that, we’ll start developing the project,' he said. Alekperov also said he recently met with the Saudi Arabian oil minister during a visit to Russia. 'We hope that this project will be successful,' he said. In 2004, Alekperov and the Saudi Oil Minister Ali Al-Naimi signed a contract for the exploration and development of gas fields and gas concentrate in an area known as Bloc A. The term of the agreement is 40 years.." [more]

April 5-April 11, 2009

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

Security Beefed up at Saudi Consulate in Mumbai [Apr 11]
" The federal intelligence agencies on Thursday put the Mumbai police on a high state of alert informing them that militants of Al-Qaeda were planning to attack the Saudi Arabian consulate in Mumbai and that there is high possibility of Saudi aircraft being hijacked from Indian airports. A senior police official, speaking on condition of anonymity, told Arab News yesterday that the alert were sounded after the interception of communications between militant organizations saying that some Al-Qaeda militants have infiltrated into the country and were likely to carry out terrorist acts against the Saudi interests in Mumbai.. ..The intelligence department and the city cops in plainclothes were patrolling the areas where the Saudi consulate and the Saudi Arabian Airline offices are located.."  [more]

Saudi Prince's Invention Creates a Flutter in Geneva [Apr 11]
"The invention of a Saudi prince has grabbed the attention of the world. Prince Nayef Bin Mamdouh Bin Abdul Aziz was recently honoured with the grand prize of the International Federation for Inventors (IFIA) for his entry at the 27th Geneva International Exhibition of Inventions, a rescue and relief helicopter complete with a massive firefighting unit.. ..Prince Nayef explained how his invention worked. The main feature of the rescue craft is a water tank with the capacity to hold a shocking 33,000 litres of water, which is one fourth the size of the aircraft. The capacity of the tank may be increased depending on the size of the helicopter. In addition, there is also provision to accommodate 18 fire fighters who can secure themselves to the craft and descend to a safe distance to combat fires in inaccessible terrain or high altitudes.." [more]

Arab Foreign Ministers to Meet in Amman Today [Apr 11]
"Seven Arab foreign ministers and the Arab League Secretary-General Amr Moussa are to meet in Amman today to discuss the future Arab strategy for peace negotiations with Israel, officials said yesterday. The meeting has added significance as it falls just ahead of a planned trip to Washington by Jordan’s King Abdallah, who is expected to relay the Arab vision on the peace process with Israel to the US President Barack Obama. The foreign ministers of Jordan, Saudi Arabia, Egypt, Qatar and Syria will be among those meeting in the Jordanian capital, according to reliable sources in Amman. The regular Arab summit conference, which last convened in Doha at the end of March, will attempt to muster support for the Arab peace initiative in the wake of the arrival of the extreme right-wing coalition government in Israel led by Benjamin Netanyahu.." [more]

Tadawul Crosses 5,000-Point Mark [Apr 11]
"Saudi shares reflected strong performance last week for the fourth week in a row, partly buoyed by the slowly rising oil prices and a strong wave of speculation on small caps, particularly insurance stocks. The Tadawul All-Share Index (TASI) climbed 6.82 percent to 5,039.03 points last week. SABB Takaful was the top gainer last week as its shares jumped 60 percent to SR108, followed by Allied Cooperative Insurance Group by 39.91 percent to SR79.75, Tawuniya by 29.31 percent to SR37.50, Trade Union Cooperative Insurance Co. by 29.29 percent to SR21.85 and Al-Ahlia Insurance Co. by 28.28 percent to SR44. TASI is currently 4.9 percent higher than the year’s start.." [more]

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

Hardliners Want Saudi Woman Minister Sacked [Apr 10]
"A group of hardliners has initiated a campaign to have Saudi Arabia's first woman minister, Norah Al Fayez sacked. Unsettled about the kingdom's new call for reform, the group approached Shaikh Saleh Al Laheedan, a member of the Senior Scholars' Commission which is the highest religious body in Saudi Arabia and former chairman of the Supreme Judiciary Council to exercise his influence to have Deputy Education Minister Fayez removed from her post.. ..they tried to impress on Shaikh Laheedan the necessity of reviewing the changes made in the supervision of the girls' education department and bring it back under the control of Islamic scholars and shaikhs. The same group recently urged Information Minister Abdul Aziz Khoja to ban women from appearing on TV, newspapers or magazines. Sheikh Laheedan assured the group that their concerns would be addressed.." [more]

Dialogue Between Two Kingdoms [Apr 10]
"There were increasing Saudi calls on Wednesday to benefit from the distinguished relationship between the Kingdom of Saudi Arabia and the United Kingdom to push forward some dossiers that have not been completed until now and that would be conducive to fostering economic, trade, and investment relations between the two countries. The recommendations adopted by the fourth meeting of the Saudi-British club, 'The Dialogue of the Two Kingdoms', stressed the necessity of following up economic developments in the two countries and promoting formulas to push them forward economically, especially in the domains of investments and trade, particularly in view of the current crisis and economic conditions. Participants at the sessions asked the foreign ministers of the two countries to intervene as a matter of urgency in order to extend the validity of business visas and provide for multiple reentries for more than five years.." [more]

IEA Cuts Oil Demand Forecast to Lowest in Five Years [Apr 10]
" The International Energy Agency expects global oil demand to decline by 2.4 million barrels a day this year, about the same amount that Iraq produces, as the economic slump reduces consumption to the lowest since 2004. The adviser to 28 nations cut its 2009 forecast for an eighth consecutive month, slashing last month’s estimate by 1 million barrels a day, or 1.2 percent, to 83.4 million barrels a day.. ..The 11 OPEC nations bound by production quotas pumped 25.57 million barrels of crude oil a day last month, the IEA said, compared with their official Jan. 1 limit of 24.845 million a day. That implies the group has collectively completed 83 percent of its promised reduction, the IEA said. Saudi Arabia’s compliance was highest, at 108 percent, while Iran and Angola were lowest at 44 percent and 45 percent respectively, according to IEA calculations.." [more]

Begging Among Saudis Up By 4% in a Year [Apr 10]
"Authorities have said that Saudis constitute 19 percent of all beggars in the Kingdom, a rise on the previous year of 4 percent.  The annual report released by the Ministry of Social Affairs says that the number of Saudi beggars of both sexes comes to 5,206 compared to 4,952 the previous year, while the number of beggars of non-Saudi nationality fell by two percent from last year’s figure of 30,008 to 21,136. Of the 5,206 Saudi beggars 1,393 were male and 3,814 female. The highest number of female Saudi beggars were registered in Bureidah with 1,546, followed by Riyadh with 1,009, Abha with 344, Dammam with 335, and Tabuk with 158.." [more]

Grenoble Graduate School of Business to Deliver Programs in Saudi Arabia [Apr 10]
"Further to a new collaboration between Grenoble Graduate School of Business (GGSB) and the College of Business Administration (CBA) in Jeddah, those who wish to can follow the French Business School’s programs in Saudi Arabia. From September 2009, GGSB’s Master in International Business and Doctorate in Business Administration will be offered on the CBA campus. Conducted entirely in English, the programs will be taught by GGSB faculty who will fly in to Jeddah. CBA will provide campus facilities and administrative support to faculty and students. This is the first agreement to be signed between a French Business School and a Saudi Business School.. ..At the present time teaching is not done in mixed groups of male and female in Saudi Arabia but the objective is to have mixed classes for GGSB programs. This will be possible due to the initiatives of King Abdallah to introduce this for Postgraduate students as from September 2009.." [more]

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

Saudi Says New Israeli Govt Policies Dangerous [Apr 9]
" Saudi Arabia on Wednesday slammed the policies of Israel's new right-wing government as dangerous and an obstacle to Middle East peace efforts, and said only international pressure can change them. 'It is now clear that Israel, which has until now frustrated all peace efforts, whose new government has declared dangerous policies, cannot be expected to automatically change its stand,' Foreign Minister Prince Saud al-Faisal told reporters. 'This requires a solid and firm international action, especially on the part of the United States, to prompt Israel to change its policies which contravene international legality and the requirements of peace.' At a joint news conference with visiting British Foreign Secretary David Miliband, he said Arab states still backed the Saudi-crafted Arab Peace Initiative, and that it would remain on offer as long as Israel shows interest in reaching a peace deal.." [more]

Rising Poverty Generates Heat in Shura Council [Apr 9]
"Members of Saudi Arabia's Shura Council voiced alarm over the rising number of people living below the poverty line in the country despite the best efforts of the government to fight poverty. Based on the recently published annual report of the Ministry of Social Affairs, the Shura Council came to the conclusion that nearly 22 per cent of the population is poor. The report brings into sharp perspective a national strategy to fight poverty which was implemented in 2006. The strategy was drafted by experts following a directive by King Abdullah Bin Abdul Aziz in 2002, in his capacity as the Crown Prince, after he had visited a Riyadh slum.. ..According to the latest report of the Ministry of Social Affairs, there are three million Saudis living below the poverty line in the country.." [more]

Sultan Receives Clinton [Apr 9]
"Crown Prince Sultan, Deputy Premier, Defense and Aviation Minister and Inspector General, receives former US president Bill Clinton at his residence in New York, Tuesday night. Clinton congratulated the Crown Prince on his successful surgery and discharge from hospital. The Crown Prince also received a message from US Defense Secretary Robert Gates congratulating him similarly and wishing him safe recovery and constant fine health.." [more]

Saudi, British Youths Painting the Future [Apr 9]
"The number of Saudi students studying in British universities has increased by 700 percent from the year 2000 to reach 15,000 at present. Prince Saud Al-Faisal, Foreign Minister, noted this significant increase to illustrate the remarkable development in Saudi-UK bilateral ties in the cultural and educational fields. 'The real guarantee of the durability of relations between the two Kingdoms is the active participation of the two countries’ youth who are painting the future by their confident steps and mutual openness,' Prince Saud said in his speech opening the Two Kingdoms’ Dialogue here Wednesday. 'In this context, I look forward to the inauguration of the Youth Training Program today and I hope that this program will contribute to preparing Saudi and British youth for future cooperation where the private sector is a base,'.. ..During the forum, British young people are to outline their views to key decision-makers from Saudi Arabia and the UK, including Foreign Secretary David Miliband. Six young Britons aged between 18 and 24 and young people from Saudi Arabia will make recommendations on building trust and understanding between the two nations, and call on both governments to empower young people to take a lead.." [more]

Al-Qaeda Losing Ground: Al-Turki [Apr 9]
"The 11-member terror cell dismantled recently was made up of 'veteran' radicals, said an Interior Ministry official, adding the arrests showed that Al-Qaeda was finding it increasingly difficult to recruit fresh blood. 'The group’s ability to delude and recruit young members in the Kingdom is diminishing and Al-Qaeda is losing ground,' said Interior Ministry spokesman Maj. Gen. Mansour Al-Turki. Al-Turki added that the average age of the terror suspects is 36, which is considerably higher than of those held earlier.. ..The source also said the suspects might have links to Abdulrahman Al-Aufi, one of the 85 most-wanted terror suspects who turned himself in to Saudi authorities in February and confessed that the group Al-Qaeda in the Arabian Peninsula was setting up its operation headquarters in Yemen. Al-Aufi added that members of Al-Qaeda in the Arabian Peninsula are deployed in Saudi Arabia to identify targets in the Kingdom before returning to Yemen to plan the attacks.." [more]

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

11 Militants Tied to Al Qaeda Held, Saudis Say [Apr 8]
"Saudi Arabia said Tuesday that it had arrested 11 militants linked to Al Qaeda, seizing arms and breaking up a cell that planned to carry out attacks and kidnappings. Police arrested members of the group in several areas, including a region near the border with Yemen, Saudi news reports quoted the Interior Ministry as saying. State television showed video of security forces digging out bags containing assault rifles and other weapons hidden in a mountainous area. Group members, all Saudis, planned attacks on security forces, Saudi-owned Al Arabiya television said. Al Qaeda's wing in Yemen, widely seen as a militant stronghold, said in January that it would become active across the Arabian peninsula in a move to revive Al Qaeda in Saudi Arabia, the world's top oil exporter.." [more]

U.N. Climate Talks Threaten Our Survival: Saudi Arabia [Apr 8]
"United Nations climate talks threaten Saudi Arabia's economic survival and the kingdom wants support for any shift from fossil fuels to other energy sources such as solar power, its lead climate negotiator said. Contrasting interests of different countries are challenging faltering climate talks, meant to forge by December a new global deal in Copenhagen to curb man-made climate change.  Small island states say their survival is threatened by rising seas. But Saudi Arabia, the world's biggest oil exporter, says it could suffer from any pact which curbs oil demand by penalizing carbon emissions. 'It's a matter of survival for us, also. So we are among the most vulnerable countries, economically,' Mohammad Al Sabban told Reuters on the fringes of talks which end on Wednesday, after the latest in a series of meetings meant to thrash out a deal to replace or extend the Kyoto Protocol after 2012. 'Saudi Arabia has not done that much yet to diversify.'.." [more]

Rolls-Royce Wins $900 Mln Contract [Apr 8]
"Rolls-Royce, the maker of aircraft engines, said Wednesday that it has won a contract with Saudi Arabian Airlines worth as much as 900 million dollars.. ..The group, which makes engines for different means of transport, including planes and cars, said the Saudi carrier had selected its Trent engine to power up to 12 Airbus aircraft. 'Trent engines, selected by the airline for the first time, will power up to 12 Airbus A330 aircraft, with deliveries beginning in 2010,' Rolls said, adding that the deal includes a long-term service agreement. Of the 12 Airbus A330 planes, eight are firm orders with a further option to purchase four more. 'The Trent 700 Enhanced Performance (engine) features reduced fuel burn and emission levels,' Rolls added. Saudi Arabian Airlines currently operates a fleet of 14 Boeing 747 jets which are all powered by Rolls-Royce engines.." [more]

Saudi Arabia Not to Establish Diplomatic Relations With Armenia [Apr 8]
"Saudi Arabia will not establish diplomatic relations with Armenia, until the territorial integrity of Azerbaijan to be restored and its interests to resolve the Nagorno-Karabakh conflict to be provided, new appointed Saudi Arabian Ambassador Fahd bin Ali al-Duseri said at a meeting with Azerbaijani Foreign Minister Elmar Mammadyarov. Saudi Arabia treats to the problems of Azerbaijan with great sensitivity and is always ready to assist to resolve those problems, ambassador said presenting a copy of credentials on his appointment to Foreign Minister of Azerbaijan.. ..Azerbaijani Foreign Minister thanked the Saudi Arabia leadership for its position on the Armenian-Azerbaijani conflict.." [more]

Religious Police Chief Apologizes to Saudi Man [Apr 8]
"A man who claims he was beaten by the religious police on suspicion he was with a woman who was not his wife said Tuesday that the religious police chief has apologized to him, a rare gesture by a member of a force often seen as above the law. Mohammed Al Kahtani said Abdul-Aziz bin Humain, the new head of the commission that runs the police, 'warmly' received him at his office Monday and told him the two commission agents involved the March 17 incident are under investigation. Bin Humain also informed Al Kahtani that Ahmed Al Jardan, the commission's spokesman, has been fired after sending a statement on Sunday to the Al-Riyadh newspaper, which first reported the incident, claiming that Al Kahtani had hugged his wife and kissed her uncovered face in a car in a Riyadh mall's parking lot.. ..An official at the Commission for the Promotion of Virtue and the Prevention of Vice refused to comment on any aspect of the case. But Al-Riyadh newspaper on Tuesday published another statement from al-Jardan in which he apologized for jumping to conclusions before the investigation was over.." [more]

Muslim Congressman Seeks to Build Saudi-US Bridges [Apr 8]
"Keith Ellison, a US Muslim Congressman currently visiting the Kingdom, has spoken of the situation of Muslims in the US, President Obama’s view of the Muslim World, and US policy on the Palestinian-Israeli conflict. Congressman Ellison, speaking in an interview to Okaz, said his presence in the Kingdom was part of a 'bridge building visit' to promote reciprocal trust in all spheres. Ellison and his delegation have met counterparts during their stay and discussed ways of boosting socioeconomic relations. 'Streamlining cooperation would help strengthen understanding between the Saudi and American societies,'.. .. Ellison said that President Obama had made known his determination to establish strong ties with the Islamic World based on mutual respect, as well as reiterating that the US was not in a state of war with Islam.." [more]

NSHR Calls for National Human Rights Strategy [Apr 8]
"The National Society for Human Rights (NSHR) is dealing with a large number of domestic cases as well as cases involving Saudi citizens abroad, said Hussein Al-Sharif, general supervisor of the NSHR in Makkah province. He also called for a national strategy to develop a human rights culture in the Kingdom.. ..He called for a wide-ranging national strategy to develop a culture of human rights and asked a number of government bodies to be included in the strategy, such as the Ministry of Information and Culture, the Ministry of Interior, the Ministry of Education, the Ministry of Islamic Affairs, the Presidency of Youth Welfare, the Commission for the Promotion of Virtue and Prevention of Vice, and others.." [more]

Railway to Link GCC Countries [Apr 8]
"Finance Minister Ibrahim Al-Assaf yesterday announced plans to establish a new railway system linking the Gulf Cooperation Council (GCC) states of Saudi Arabia, Qatar, Bahrain, Kuwait, Oman and the United Arab Emriates. 'GCC leaders have given preliminary approval for the project. The final decision will depend on its feasibility,' Al-Assaf said after signing contracts worth SR2.39 billion to implement the remaining phases of the North-South Railway project. He said state-owned Public Investment Fund (PIF) had so far signed contracts worth more than SR12 billion for new railway projects including the North-South Railway that connects the mineral-rich Jalamid belt with smelters in Ras Al-Zour near the eastern industrial city of Jubail. French defense group Thales and construction giant Saudi Binladin Group were awarded an SR1.7 billion ($453 million) contract to build signaling, ticketing, communications and security systems for the 2,400-km long North-South Railway.." [more]

~~~~~~~~ [ Apr 7]~~~~~~~~~

Former FBI Chief Defends Flow of Money to Saudi Ambassador [Apr 7]
"Former FBI Director Louis J. Freeh says $2 billion that flowed from a British arms manufacturer to U.S. bank accounts controlled by Prince Bandar bin Sultan, then Saudi ambassador to the U.S., was not a bribe, but was instead part of a complex barter involving the exchange of Saudi oil for British fighter jets.. ..Freeh said that a 1985 treaty between Britain and Saudi Arabia allowed the trade of oil for weapons. BAE signed an $86-billion contract with the Saudis under the provisions of the treaty, and the funds that flowed between Britain and the Bandar-controlled bank accounts in the U.S. may have come from the sale of Saudi oil under the terms of the contract. As part of the deal, BAE also supplied an Airbus 340 plane, which for years has been used by Bandar. U.S. government officials said the investigation was being conducted under the Foreign Corrupt Practices Act, which has jurisdiction over business executives making bribes but not the government officials receiving them. As a result, someone like Bandar would not be the target of the Department's investigation, but his role helping to manage the Riggs Bank accounts has made him central to the inquiry.." [more]

Pakistan to Seek Oil Facility From Saudi Arabia [Apr 7]
"Pakistan is to seek oil facility from Saudi Arabia for 100,000 barrels per day on deferred payment of two year during the meeting of Friends of Pakistan due in Tokyo on April 16, said Advisor to Prime Minister on Finance Shaukat Tarin. Tarin, who visited Saudi Arabia on March 7 and held vital meetings with authorities concerned dispelled the impression that the visit could not succeed saying that that Saudi Arabia has advised Pakistan to bring the issue of oil facility at the forum of Friends of Pakistan. 'The kingdom has indicated that Saudi Arabia would consider the demand seeking oil facility once it is placed in FoPs meeting,' Tarin said. He said that during the meetings with Saudi authorities, Islamabad asked for increasing the import of Pakistani labour force so that Pakistan would have maximum remittances from Kingdom. 'We also invited Saudi Arabia to come forward and invest in Pakistan’s agriculture sector and import agriculture products from their own agriculture farms in Pakistan to ensure their food security.'.." [more]

Thales Signs Saudi Rail Contract [Apr 7]
"French defence firm Thales and construction giant Saudi Binladin Group are to sign a $533m contract to build Saudi Arabia's North-South Railway. The two companies will build signalling and security systems for the main 1,800km section of the $2.8bn railway. The railway will link bauxite and phosphorus mines in the north with planned Gulf coast processing and export facilities at Ras al-Zour. Another 600km section, which includes a passenger line, will be awarded later. That line will link Riyadh with al-Zubairah in the north. The North-South Railway scheme is one of three multi-billion dollar rail projects the government is developing.." [more]

KSA Taps Reserves to Boost Economy [Apr 7]
"Saudi Arabia is pumping money from its huge $400-billion stockpile of reserves into the economy to keep up growth, economists and bankers here said. A decline in net reserves over the last three months suggests that the world’s biggest oil exporter is using the money to keep up liquidity in Saudi banks and possibly shore up government investment spending too.. ..But the government could also be using the reserves to fund its budget because of a slowdown in oil receipts due to lower crude prices over the past four months, according to Gamble. 'I assume the oil revenues are less than the government is spending,' he said. Government spending on major infrastructure, education and health sector projects – projected at some $400 billion over the next five years– is crucial in driving the economy.." [more]

Khaled Wants Ban on Young People Lifted [Apr 7]
"Prince Khaled Al-Faisal, Emir of Makkah, has spoken of the frustrations felt by youth and the lack of facilities made available to them. Speaking to government officials, sheikhs, rural community leaders and the public at an open meeting in Khurma, Prince Khaled criticized the banning of young people from entering shopping malls and public parks, describing it as 'an undesirable state of affairs in major cities that has recently also spread to rural towns and villages.' 'Young people must be given their right to entertainment, shopping and everything they need,' the Emir said, requesting officials in Khurma to find a solution to the problem and that young people be made welcome everywhere. 'Where are they to go if everywhere is banned for them? The issue must be studied and a radical solution must be found,'.." [more]

BAE Move to Help Expand Aviation Industry [Apr 7]
"BAE Systems has announced plans to transfer world-class aviation technology to Saudi Arabia. The move will eventually help to expand the local aviation industry and provide more work for Saudi engineering firms and aviation companies. 'The BAE Systems is committed to transferring more aviation technology, and to provide more work for local engineering firms in order to increase the capabilities and size of the domestic aviation industry,' said Peter Wilson, managing director of BAE Systems in Saudi Arabia. Wilson was speaking at a presentation at the engineering college of Alfaisal University. The presentation was attended by Ashraff Khairi, college dean, and students.." [more]

~~~~~~~~ [ Apr 6]~~~~~~~~~

Saudi Arabia's Succession Remains a Delicate Matter [Apr 6]
"Barack Obama took time out from his hectic schedule at the G20 summit in London to hold a brief bilateral meeting with King Abdullah of Saudi Arabia.. ..Whether there was any discussion of the highly delicate matter of Abdullah's eventual heir is not known.  The 86-year-old Abdullah rarely travels abroad, and when he does he makes sure there is someone left at home to mind the world's biggest oil exporter. So shortly before leaving Riyadh for the Arab summit in Qatar and then the G20 in London, it was announced that his half-brother, Prince Nayef – no stripling at 75 – was to be appointed as the second deputy prime minister. Both the title and circumstances need decoding: in the Saudi system, the king, always referred to as 'the custodian of the two holy mosques', is prime minister and the crown prince the first deputy prime minister. So the second deputy is likely to be the next crown prince and heir apparent.." [more]

200 Mosques in Saudi Face the Wrong Direction [Apr 6]
"Around 200 mosques in Islam's holiest city, Makkah, point the wrong way for prayers, a Saudi Arabian newspaper reported on Sunday. According to the Arab News paper, the mosques were reportedly not built exactly based on the qibla, the official alignment with the holy Ka'aba shrine at the centre of the holy city's Al Haram mosque. People looking down from new skyscrapers in Makkah found the niches in many older mosques were not pointing directly towards the Ka'aba, and some worshippers are said to be anxious about the validity of their prayers.." [more]

North-South Railway to be Ready for Freight Movement by 2010 [Apr 6]
"The North-South Railway linking the Kingdom’s northern mineral belt with Riyadh and the industrial city of Jubail will be ready by next year for the freight movement, an informed source said. It will be another two years before passengers can use the railway.  Prince Abdulaziz bin Musaed Economic City in Hail will be linked with the new railway system as well as with railways in other Gulf countries, Jordan and Syria.. ..The 2,400-km North-South Railway is given priority due to its importance to industrial development. Sponsored by the Public Investment Fund, this rail line is integral to planned phosphate and bauxite mining projects in the north of the country that will link up with processing and smelters on the Gulf coast.." [more]

Nanoscience Forum Opens in Riyadh [Apr 6]
"A high-profile nanotechnology conference was opened in Riyadh yesterday by acting Minister of Higher Education Mutlab Al-Nafeesa. The event is organized by the King Abdullah Institute of Nanotechnology (KAIN), an affiliate of the King Saud University.  Al-Nafeesa commended Custodian of the Two Holy Mosques King Abdullah for his support to set up nanotechnology research centers. The king has approved three nanotechnology research centers in the Kingdom, including one at King Abdulaziz University in Jeddah. Al-Nafeesa said the event would shed light on nanotechnology, which would boost the Kingdom’s efforts to achieve sustained progress, diversify resources and create more jobs for Saudis. The conference will be addressed by experts from many countries. Prominent scientists from the Kingdom and other Arab countries are also participating.." [more]

~~~~~~~~ [ Apr 5]~~~~~~~~~

Strong Financial Stimulus Needed [Apr 5]
"..King Abdullah has called upon G-20 member countries to adopt strong and coordinated measures to achieve economic recovery. In an article entitled 'Optimism and Determination' published by Britain’s First Magazine, King Abdullah urged countries hit by the global crisis to carry out drastic financial reforms in order to boost economic growth. King Abdullah, who led the Kingdom’s delegation to the summit, said Saudi Arabia would continue to adopt policies aimed at ensuring economic growth, creating more jobs and fulfilling its commitments to playing a constructive role in world economy. 'Saudi Arabia will continue to provide assistance to developing countries directly and indirectly. It will also play its role to stabilize oil markets,'.." [more]

High-Level US Trade Team to Visit Kingdom [Apr 5]
"Congressman Keith Ellison is traveling with the Minnesota Trade Office and eleven Minnesota companies on a trade mission to Saudi Arabia. The delegation is scheduled to arrive in the Kingdom today on a four-day mission. Ellison made history by being the first Muslim to serve in the US Congress and the first African-American to represent Minnesota when, in November, 2006, he was elected from here to the US House of Representatives. Saudi Arabia has increasingly become a significant export market for American businesses. Minnesota companies exported more than $66 million in manufactured goods to Saudi Arabia in 2008, an increase of 32 percent from 2007. 'Today’s economy demands we look for every market available to our companies. I am proud to join this trade mission to expand business opportunities,'.." [more]

Prince Turki Says Arab Disunity Benefiting Tehran [Apr 5]
"Prince Turki Al Faisal, chairman of the King Faisal Centre for Research and Islamic Studies in Riyadh, said that disunity and differences of opinion among the Arabs are the major factors behind the growing clout of Iran in the region. 'Iran is emerging stronger at the expense of Arab interests," he warned while describing "Iran as a paper tiger with claws of steel'. Prince Turki made these remarks during a dialogue meet at the Strategic Studies Centre of the Jordan University in Amman on Saturday.. ..Prince Turki Al Faisal, who is Saudi Arabia's former ambassador to the United States and Britain, accused Washington of presenting Iraq to Iran on a platter.." [more]

Saudi King Drawn Into Cinema Row [Apr 5]
"A group of hardline Islamists from the western city of Jeddah sent a petition to King Abdullah Bin Abdul Aziz asking him to intervene and stop the screening of films in the region. The petition, signed by hundreds of prominent figures, drew attention to the growing trend of films being screened in Jeddah and other regions in Makkah province. 'This would spoil the purity of souls,' they claimed.. ..The move by hardliners coincides with the emergence of many promising film producers and talented actors and actresses in various parts of the kingdom. Cinema is still banned in the country despite the recent screening of some films, especially the popular feature film Menahi in major cities. This movie met stiff opposition from some quarters, and was even forced to cancel its screening in the southern region of Jizan. In Jeddah more than five films have been shown during the last few months.." [more]

Saudi Stock Market Shares Drop 14% in March [Apr 5]
"The Saudi stock market, the largest in the Arab world, continued its downward trend in March with the value of shares traded dropping 14.44 per cent to 87.41 billion riyals (Dh85.61 billion) from 102.16 billion riyals the previous month. According to the Tadawul statistical report released at the weekend, the Tadawul All-Share Index (TASI) plunged over 55 per cent in the first quarter of this year compared with the same quarter the previous year.. ..According to the report, TASI closed at 4,703.75, down 4,288.78 points or 47.69 per cent at the end of the first quarter compared to the same period the previous year. The index closed at 4,802.99 at the end of 2008.." [more]

Mar 29-April 4, 2009

~~~~~~~~ [ Apr 4]~~~~~~~~~

King Abdullah Back in Riyadh [Apr 4]
"King Abdullah, Custodian of the Two Holy Mosques, arrived in Riyadh Friday evening from London after having led the delegation of Kingdom of Saudi Arabia to the 21st Arab ordinary summit and 2nd Arab-South America summit in Doha, Qatar, and the Kingdom’s delegation to the G20 economic summit in London. At Riyadh Airbase, the Monarch was received by Prince Fahd Bin Muhammad Bin Abdul Aziz, Prince Bandar Bin Muhammad Bin Abdulrahman, Prince Fahd Bin Mashari Bin Juluwe, Prince Badr Bin Abdul Aziz, Deputy Commander of the National Guard, Prince Naif Bin Abdul Aziz, Second Deputy Premier and Minister of Interior, Prince Sattam Bin Abdul Aziz, Acting Governor of Riyadh Region, other princes, chairman of the Shoura Council, ministers, senior civil and military officials and a group of citizens.." [more]

Saudi Arabia's Foreign Assets Fall Amid Global Econ Woe-SAMA [Apr 4]
"Saudi Arabia's foreign assets declined for the third straight month in February after almost a decade of steady growth driven by rising oil prices, official data showed. Foreign assets controlled by the Saudi Arabian Monetary Agency, or SAMA, declined almost 2% to 1.585 trillion Saudi riyals ($422.67 billion) in February, compared to a month earlier. The kingdom has shed more than $20 billion in foreign assets since November 2008, according to a report posted on SAMA's Web site. The boom in oil prices since 2002 has filled the kingdom's coffers and made it one of the largest holders of U.S. Treasuries and other securities. But as the global economic downturn cramps its development plans and strains the financial system in Saudi, the government has increased its support of the local economy putting strain on its finances. Saudi Arabia injected 31.4 billion Saudi riyals ($8.37 billion) in the fourth-quarter of 2008 to support its financial system through a variety of measures including direct deposits into local banks.." [more]

Kingdom's Recovery Program Largest in G-20: Al-Assaf [Apr 4]
"Saudi Arabia has embarked on a massive economic recovery program worth $400 billion, which the International Monetary Fund considers as the largest in G-20 countries, Finance Minister Ibrahim Al-Assaf said on Thursday. 'The Kingdom of Saudi Arabia has adopted an investment and development program for the government and monetary sectors, valued at $400 billion, for five years,' the Saudi Press Agency quoted the minister as saying. 'The IMF conducted a study on policies adopted by G-20 member countries, which showed that the Kingdom’s investment program for infrastructure and other projects is the largest in the group,' Al-Assaf told reporters after the G-20 summit in London. He said Saudi Arabia has allocated 10 percent of the gross domestic product (GDP) to finance the program in three years.." [more]

3 Virtue Commission Members Sacked [Apr 4]
"The new president of the Commission for the Promotion of Virtue and Prevention of Vice, Abdul Aziz Al-Humain has fired three of his officials for violating regulations, Al-Madinah Arabic daily reported yesterday quoting informed sources. 'An official source at the commission's office in Riyadh confirmed the report,” the paper said, adding that the decision was taken by Al-Humain. 'It’s one of the major decisions taken by the new president after assuming office,' the paper pointed out. The source disclosed that the commission was likely to fire more officials in the coming days, especially those working in the field, for violating regulations.." [more]

Saudi Arabia Will Play Part in Recovery [Apr 4]
"As the world’s leaders met in London to seek ideas and funds in order to prevent a systemic collapse of the global economy, many eyes have turned to Saudi Arabia as an obvious source of cash. The Kingdom’s contribution to rescuing the global financial system has been far from negligible. It is investing more than $70 billion to bring its oil production capacity to 12.5 million barrels a day by the end of this year. More than 40 percent of the new total capacity will remain unused so that global consumers can tap into it at a later stage. Saudi Arabia’s current control of production capacity makes Tehran and Moscow, to name but two, completely dependent on its adjustments. Saudi Arabia has used its status as the world’s swing producer benignly. Its leaders have understood for decades that their interests are intertwined with the prosperity of the world economy and that excessive prices and the accompanying volatility are counter to the Kingdom’s long-term interests.." [more]

New Saudi-Japanese Firm Set Up [Apr 4]
"Tharawat Development Company (TDC) has signed an agreement with Kubota Japanese Company (KJC) to establish Kubota Saudi Arabia Company, LLC. The agreement, worth an estimated SR225 million, was signed by Subhi Mohammed Al-Hashim, vice chairman and deputy member of TDC, and Takeshi Torwiki, general manager of iron industries in KJC, Osaka. Kubota Saudi Arabia Company will function to melt and cast heat-resistant alloys, crack pipelines, and steam in ethylene cracking units that are used in the petrochemical factories. The company will be located in Dammam where the Saudi Industrial Property Authority has provided a 25,000 sq. meter plot of land in the second industrial area of the city for the new company to begin implementation and production by mid-2010.." [more]

~~~~~~~~ [ Apr 3]~~~~~~~~~

Obama and the King: a Right Royal Bow Row [Apr 3]
"Conservative American commentators have accused Barack Obama of 'grovelling' to an Arab monarch at the G20 summit in London. A photo and video footage of the US President bowing to Saudi Arabian King Abdullah at yesterday's G20 meet-and-greet has been doing the rounds on the internet today.. ..etiquette expert Gloria Starr, who has met the King's wife and hosted two of their daughters in her finishing schools, told smh.com.au there was nothing wrong with Mr Obama's display of deference. "I think it was a sign of respect and in no way diminishes the ranking of the President or indicates the greater strength of the one being bowed to," Ms Starr said. 'I bowed, wore the attire, ate the figs as a sign of respect when I was in Saudi. I applaud the President for showing this courtesy.'.." [more]

Saudi Arabia Buys Sidewinder Missiles [Apr 3]
" The Royal Saudi Arabian Air Force has contracted Raytheon for the company to deliver AIM-9X Sidewinder missiles. U.S. company Raytheon was awarded the contract after an agreement between Saudi Arabian authorities and the U.S. government. Under the deal, Raytheon will deliver an undisclosed number of tactical and training AIM-9X Sidewinder infrared-guided missiles to the Royal Saudi Air Force. Officials say the air-to-air missiles will go to support Royal Saudi Air Force's fleet of F-15 fighter aircraft. 'The AIM-9X will provide our Saudi Arabian allies with unparalleled capability, a small logistical footprint and ease of integration onto its existing fighter aircraft,'.." [more]

Saudis May Shore Up Mideast Sour Demand [Apr 3]
"Asia's oil refiners will turn to the Middle East crude market with renewed enthusiasm in the coming week, with spot valuations likely to cool amid expectations that supply will loosen up. With Middle East members of the Organization of Petroleum Exporting Countries expected to go easy on their recent aggressive output cutbacks, "sour" or high-sulfur crude may start becoming more competitive. This would encourage Asian importers to commit to sour crude after a period of relatively high prices prompted a handful of refiners to ship home rival 'sweet' crude from elsewhere. 'It all depends on the Saudis,'.. ..State oil giant Saudi Arabian Oil Co. is widely expected to raise OSPs for lighter crude but crucially, its key Arabian Medium grade will be marked down - by a significant 50 cents a barrel, one customer predicted. During the week, Saudi Aramco, as the company is known, will also finalize its May term supply allocations.." [more]

KSA Studying Options of Supporting IMF – Al-Assaf [Apr 3]
"Saudi Finance Minister Ibrahim Al-Assaf said the Kingdom is still studying its options of supporting the IMF and is presently not contributing to the additional $500 billion in additional funding for the IMF agreed at the G20 summit. There have recently been reports that Saudi Arabia would contribute $90 billion, but Al-Assaf said this figure was unfounded.. ..Al-Assaf described the summit as a success. He was upbeat on Saudi Arabia’s ability to withstand the global financial crisis and said that there had been international recognition of the efforts that Saudi Arabia has made to head off the effects of the international financial crisis. Saudi Arabia has been less hurt than many other economies by the global financial meltdown because it began its systems of checks and balances on the financial sector a long time ago.." [more]

~~~~~~~~ [ Apr 2]~~~~~~~~~

Sultan Makes Full Recovery [Apr 2]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, left hospital on Tuesday evening after achieving complete recovery following a successful surgical operation that was performed on him on Feb. 23, a Royal Court announcement said yesterday.. ..In a recent statement, Second Deputy Premier and Minister of Interior Prince Naif said Prince Sultan’s health was satisfactory. 'I would like to assure you that the crown prince’s health is very good. God willing, after the medical vacation he will return to the Kingdom in full health,' the Saudi Press Agency quoted him as telling reporters in Beirut.." [more]

Thousands of Jobs For Women Planned [Apr 2]
"The Jeddah Chamber of Commerce and Industry (JCCI) yesterday launched a scheme aimed at employing thousands of women in 700 industrial establishments in the city. 'The move comes as part of the JCCI’s efforts to invest in woman power for the all-around national development,' participants in a meeting held at the head office of the JCCI observed yesterday. JCCI set up an action team comprising Ulfat Qabbani, a member of the board of directors of JCCI, Sameer Murad, chairman of the Industrial Committee of JCCI, Saud Tayyar and Fouzi Al-Nahdi, to supervise the speedy implementation of the scheme. 'More than 25 factories have come forward in the initial stage of the scheme. A total of 56 industries will offer jobs for women,'.." [more]

A Rising But Enigmatic Prince [Apr 2]
"Amid the swirl of rumour, news of real shifts occasionally wafts out, as it did on March 27th, when King Abdullah appointed his half-brother, Prince Nayef, as his second deputy prime minister. The title does not sound very grand, considering the 75-year-old prince’s service as the powerful interior minister for a cool 34 years. But the 84-year-old king happens also to be Saudi Arabia’s prime minister. His first deputy and anointed successor, Crown Prince Sultan, has been abroad for months, convalescing from cancer. In the past, second deputy prime ministers have been considered second in line to the throne. King Abdullah had left the post vacant since assuming the throne in 2005.. ..The creation by King Abdullah two years ago of a family council representing all of Abdul Aziz’s sons, which was charged with approving future heirs to the throne after Crown Prince Sultan, was widely seen as a manoeuvre to bypass the Sudairis’ overweening influence. But his elevation of Prince Nayef appears now to consolidate their power.." [more]

Obama Backs Saudi Peace Initiative [Apr 2]
"US President Barack Obama reiterated his support for the Saudi Mideast peace initiative in a meeting with King Abdullah on Thursday night, the White House said in a statement. The February 2002 initiative calls for a full Israeli withdrawal from all territories taken in the Six Day War, including east Jerusalem, and a 'just settlement' to the Palestinian refugee crisis in exchange for normalizing ties with the Arab world. The leaders 'reaffirmed the long-standing, strong relationship between the two countries,' continued the statement after the two met on the sidelines of the G20 summit in London. 'They discussed international cooperation regarding the global economy, regional political and security issues, and cooperation against terrorism,'.." [more]

Saudi Content With $50 Oil to Help World Economy [Apr 2]
"Saudi Arabia and other core Gulf OPEC producers will not seek to push oil prices beyond $50 a barrel in the short-term, to help nurse the global economy out of recession. If oil, now near $50, does not drop, Saudi Arabia appears unlikely to seek another output cut at OPEC's meeting in May even though prices are a long way short of Riyadh's stated $75 price target.  'For OPEC, the penny has dropped on the economy -- it is still fragile and may not have hit bottom yet,' said Bill Farren-Price, energy analyst at Medley Global Advisors. 'Their longer-term price ambitions around $75 a barrel have to be deferred for the time being. There appears to be a coordinated message from Gulf producers that $50 is good for now.' Saudi Arabia, a member of the G20 leading world economies, is keen to be seen helping and not hindering measures to shore up the global economy.." [more]

~~~~~~~~ [ Apr 1]~~~~~~~~~

Saudi Government Cracks Down on Shiite Dissidents [Apr 1]
"A cleric's threat of secession has brought a swift government crackdown in this poor, radical Shiite town in Saudi Arabia's increasingly restive religious minority heartland atop the Sunni kingdom's main oil reserves. Cleric Sheik Nimr al-Nimr threatened to break away if Saudi authorities don't treat Shiites better. Followers of the sect make up 10 percent of the kingdom's population of 22.6 million and they have long complained of discrimination, saying they are barred from key positions in the military and government and are not given an equal share of the country's wealth.. ..Since that incendiary sermon, more than 35 people have been arrested in a government crackdown and al-Nimr has gone into hiding. Police have set up checkpoints on the roads leading into Awwamiya, one of the Shiite area's poorest towns. Other Shiite leaders have distanced themselves from al Nimr's comments, though they say the government must address growing Shiite anger over discrimination and poverty, which they warn could break into unrest.." [more]

Sudan's Bashir Defies ICC Warrant With Saudi Trip [Apr 1]
"Sudanese President Omar Hassan al-Bashir flew to Saudi Arabia on a brief pilgrimage, state media said on Wednesday, his latest stop on a foreign tour in defiance of an international arrest warrant against him. It was Bashir's fifth visit to a foreign state since the International Criminal Court issued an arrest warrant against him on March 4 accusing him of war crimes and crimes against humanity in Sudan's Darfur region. Sudanese television and state radio said Bashir left a summit of Arab and Latin American leaders in Qatar and flew to Saudi Arabia. The reports did not say when he arrived. The state-run channel said: 'President of the republic Field Marshal Omar al-Bashir has arrived in Saudi Arabia to perform Umrah (an Islamic pilgrimage).'  Bashir risks arrest if he leaves Sudan and he has so far only visited countries that are not members of the International Criminal Court.."  [more]

Saudi Warns Protectionism May Worsen Crisis [Apr 1]
"Saudi Arabia's finance minister warned against protectionism as G20 leaders gathered in London for a summit, saying in a newspaper report that restricting imports from emerging markets could worsen the global crisis. G20 leaders pledged at a summit in November to fight protectionism, although 18 of their economies are named in a World Trade Organization report on measures taken in recent months that could be seen as restricting trade. 'With signs of recession and indications that levels of unemployment are rising in several countries as a result, indications of commerce protectionism have started to surface and this is a very worrying matter,' Finance Minister Ibrahim al-Assaf was quoted as saying in Asharq al-Awsat.. ..Saudi Arabia is the only country in the Arab world that is a member of the G20.." [more]

Saudi Offers Private Firms Incentive to Hire Nationals [Apr 1]
"The Saudi government has offered private firms a new incentive for the hiring of its fast growing native population after a rise in unemployment amid the global financial crisis. The government-run Human Resources Development Fund said it would pay in advance half of the first annual salary of Saudis who are newly hired by private firms. It earlier paid the 50 percent after the completion of the first year. '(This) aims at encouraging private sector firms to contribute in nationalising jobs,' state news agency SPA said. The fund will continue to pay 75 percent of bonuses paid to Saudis who undergo training at private firms, SPA added. The move came amid a slowdown in the world's top oil exporter and a slower growth of bank loans to the private sector. This has increased concerns over the economy's ability to create jobs for a predominantly young population that generally prefers working for a less-demanding public sector.." [more]

Sultan: Tourism Industry Won’t Pose Social Burden [Apr 1]
"Prince Sultan bin Salman, president of Saudi Commission for Tourism and Antiquities (SCTA), said yesterday that Saudi Arabia’s tourism industry would not become a security or social burden on the country. 'The SCTA is keen on security issues and works in coordination with the Interior Ministry,'.. .. 'Our main goal is to develop the tourism sector for the benefit of citizens and their families, who represent the biggest tourism market in the Kingdom.' He added: 'We are not obliged or keen to opening national tourism to foreigners. It would be a big mistake to focus on attracting foreign tourists while we are not able to provide minimum services to our citizens who are anxious to see the attractions in their country.'.." [more]

Women’s Advocacy Group Decides to Wind Down [Apr 1]
"A proposal to establish a first-of-its-kind organization to support women’s rights in Saudi Arabia has been dropped shattering the hopes of Saudi women for an official organization that would fight for their rights. 'We failed to obtain official approval to operate legally,' said Sulaiman Al-Salman, the man who came up with the idea to establish the society, Ansar Al-Mar’ah (Supporters of Women). Al-Salman said he has been in constant conflict with the Ministry of Social Affairs to gain approval, adding that the ministry’s rejection has frustrated the group’s determination and that group members have, as a result, lost interest.. ..Al-Salman said that while the proposal for his organization was rejected, tens of other charities providing humanitarian support have been approved and that none of these are dedicated to serving women’s rights.." [more]

Saudi Female Official Settles in to Job [Apr 1]
"Nora al-Fayez, Saudi Arabia's highest-ranking female official, is not ready to make big pronouncements. A month after King Abdullah named her deputy education minister for women as part of a sweeping Cabinet reshuffle, Ms. Fayez told The Washington Times that she 'preferred not to talk much at this stage' about plans until she has time to formulate an approach to the new job. Still, she said, 'I can say that 99.9 percent of the people were happy about my appointment, especially that it deals with issues related to women.' Asked why she was appointed, she said it reflected the views of both Saudi intellectuals and ordinary people and was not a response to external pressure. 'The Saudi leadership makes important decisions carefully,' she said. 'It has to prepare the society for change.' The Fayez appointment was part of the biggest Cabinet shake-up since Abdullah took the throne in 2005.." [more]

Kosova: Recognition by Saudi Arabia Forthcoming [Apr 1]
"The Government of the Kingdom of Saudi Arabia recognizes the Republic of Kosovo passports and the Saudi Arabia consular diplomatic office is authorized to provide visas for the Republic of Kosovo citizens, informs the Kosovar-Arab Chamber of Friendship and Economic Cooperation. Saudi Arabia is among the countries that are in the process of recognizing Kosovo.  The Kosovar-Arab Chamber for Friendship and Economic Cooperation informs that all citizens of the Republic of Kosovo, who want to travel to Saudi Arabia, can use the passports of the Republic of Kosovo, reports Kohavision. 'Recognition of the Passports is a great achievement for Kosovo because we are convinced that the official recognition of the Republic of Kosovo is coming very soon ,' said the Kosovar-Arab Chamber for Friendship and Economic Cooperation.." [more]

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