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Jun 28-Jul 4, 2009

~~~~~~~~ [ Jul 3]~~~~~~~~~

Saudi-Syrian Summit Expected to Take Place Next Week [Jul 3]
" Syrian-Saudi summit is expected to take place in Damascus on Monday, Egypt's official Middle East News Agency (MENA) said. Saudi King Abdullah Bin Abdel Aziz is to visit Damascus early next week to meet with Syrian President Bashar al-Assad, a diplomatic source told As-Sharq al-Awsat newspaper on Friday. This would be the king’s first visit in years, after relations between the two states had soured. 'The trip is expected to take place on Monday and would include discussions on Arab relations and regional developments, including the new Lebanese cabinet formation, which will be headed by Prime Minister-designate Saad Hariri,'.." [more]

Kingdom, Sweden Team Up To Promote Green Diplomacy [Jul 3]
" Saudi Arabia will be a partner of a major European initiative called Green Public Diplomacy, which calls for intensified efforts to create green environment, control pollution on a global level, adopt environmental-friendly technology and encourage journalists to write more on environmental issues, according to Swedish Ambassador Jan Thesleff. Thesleff said Sweden has teamed up with the King Saud University and Saudi Research and Publication Company to hold a major seminar on climate change and the environment later this year as part of the initiative.. ..The Saudi involvement in Green Public Diplomacy will be significant keeping in view the fact that the European companies are world leaders in green technology. Companies gave added value to their products and services by increasing eco-efficiency.." [more]

Hi-Tech System to Seal Saudi Border [Jul 3]
"Saudi Arabia has signed a deal with Eads, the European defence and aerospace group, to build a hi-tech security system along its land and sea borders. The $2.8bn scheme is aimed at curbing people, weapons and drugs smuggling across 9,000km of the Gulf state's frontiers. The surveillance system includes radar facilities, coastal detection centres, telecommunications networks and reconnaissance aircraft.. ..The border project was first envisaged in the 1990s in the wake of the first Gulf War to secure Saudi Arabia's border with Iraq with physical fencing and high-tech monitoring. But with increased worries over infiltration into the country by anti-government and al Qaeda operatives, and a rise in illegal immigration from around the region, the Saudi interior ministry expanded the scope of the programme to fence and electronically monitor all the country's borders.." [more]

Saudi Oil Income to Dip by $147bn in 2009 [Jul 3]
"A plunge in oil prices will ally with a sharp output cut to depress Saudi Arabia's oil income by nearly $147 billion (Dh539bn) in 2009, equivalent to the combined 2008 crude export earnings of the UAE and Kuwait, according to a key Saudi bank.   From a peak of $281.4bn in 2008, the Kingdom's oil revenues will dive to nearly $134.2bn in 2009 before rebounding to around $164bn in 2010, the Saudi American Bank (Samba) said in a study. The projected income this year will be the lowest since 2005 as a result of a sharp fall in crude prices and a drop of more than one million barrels per day in the country's crude production in line with a collective Opec agreement to trim supplies to prevent prices from collapsing due to the global fiscal distress. Samba estimated Saudi Arabia's actual oil production at around eight million bpd in 2009, nearly 1.2 million bpd lower than its output of 9.2 million bpd in 2008.." [more]

~~~~~~~~ [ Jul 2]~~~~~~~~~

$28b For More Power in 3 Years [Jul 2]
"Saudi Electricity Company (SEC) plans to spend $28 billion (SR105 billion) in the next three years to meet rising demand in the Arab world’s largest economy. 'We already have major projects under construction now,' said Ali Al-Barrak, CEO of the Riyadh-based state-controlled power producer, in an interview. 'This is to add about 13,000 megawatts of power and the required transmission distribution system.' SEC also plans to invest $70 billion by 2018 to add 25,000 megawatts and match demand spurred by a $400 billion, five-year government-spending program and a growing population. The Kingdom’s electricity use may quadruple to 140 gigawatts a year by 2032.." [more]

English as Medium of Instruction [Jul 2]
"The English of Saudi university graduates is very poor. Since the labor market in the Kingdom largely depends on foreign manpower, English has necessarily become the language of business. Anyone who does not master English will be in a weak position when competing for a job. His or her chances for progressing in terms of career will be severely compromised.  Faced by this situation, some Saudi universities that could not improve their preparatory year for teaching English have thought of a more radical step to confront the problem: To make English the medium of instruction for specializations that are in huge demand in the labor market. If this proposal is implemented, we could face a cultural catastrophe. This proposal is not the solution to the problem for the following reasons:.."  [more]

Loans To Saad, Al Gosaibi Top $7.42B With 88 Firms Exposed [Jul 2]
"A total of 88 firms have exposure of $7.42 billion in syndicated loans to troubled Saudi conglomerates Saad Group and Ahmad Hamad Al Gosaibi & Brothers Co., documents show. By the value of loans, international lenders hold $4.88 billion of the total syndicated debt held by the groups, the documents being circulated amongst the lenders show. The rest is held by Middle East firms, mostly banks but holding companies as well. Banks are desperately trying to call in the loans amid growing concerns over the financial stability of the Saudi conglomerates. But the total exposure to both Saudi companies is likely to top $7.42 billion as the documents don't include bilateral loans, trade finance or foreign exchange transactions. By the number of institutions, almost half the 88 firms with exposure are from the Middle East, with 12 from the United Arab Emirates.." [more]

Babson College And Wellesley Centers For Women Partner To Launch U.S.-Saudi Women's Forum On Social Entrepreneurship [Jul 2]
"The Center for Women's Leadership at Babson and The Wellesley Centers for Women at Wellesley College have partnered with two renowned global organizations--Dar Al Hekma College, Saudi Arabia, and ICF International-- to deliver The U.S.-Saudi Women's Forum on Social Entrepreneurship July 13-24, 2009 at Babson College. Leaders from all four institutions will present the second of three modules to 30 undergraduate women from Saudi Arabia. Module I launched earlier this year in Jeddah, Saudi Arabia.. ..This program is funded through the Middle East Partnership Initiative.." [more]

Asean Eyes Trade Pact With Gulf Countries [Jul 2]
"THE Association of Southeast Asian Nations (Asean) may break new ground by partnering with the oil-rich countries of the Middle East grouped in the Gulf Cooperation Council (GCC), in the face of the global financial crisis and the collapse of the Doha Round of the World Trade Organization (WTO). The Asian regional bloc is studying whether a free-trade agreement (FTA) with the GCC is workable within the next two years, with the aim of expanding trade and investments, specifically in renewable energy, tourism, information technology and communications between the two groups.. ..The meeting of the Asean and the GCC was thus believed significant in the face of the Doha collapse, and the joint statement indicated this fact, saying both regional blocs agreed 'to study and make recommendations on free-trade agreement between the GCC and Asean; economic cooperation and development; and culture, education and information.'.." [more]

Mandatory Flu Vaccine For Haj, Umrah Pilgrims [Jul 2]
"Saudi Minister of Health Dr Abdullah Al Rabe'ei asserted that his ministry has taken all the precautionary measures to ensure the safety of Haj and Umrah pilgrims from swine flu. He urged the pilgrims, those living in the holy places, and those serving pilgrims, to take the seasonal flu vaccine. 'Pilgrims coming from all over the world must take the vaccine at least two weeks before travelling to the holy sites. Instructions have been sent out to establish isolation centres in the holy sites for Umrah pilgrims suffering from flu,' he said, adding that the vaccine would be available before the Haj season.." [more]

Saudi Regulator Cracks Whip For More Transparency [Jul 2]
"It has happened twice. In February 2006 and last October, millions of Saudis saw their savings evaporate overnight as the Saudi bourse, the Arab world's biggest, crashed. As the index plummeted, anger rose among retail investors who had ploughed family savings and loans into the market hoping for a quick gain. They accused the government of turning a blind eye to 'big sharks'. But, in what analysts say is a move towards greater transparency, the Capital Market Authority (CMA), the market regulator, took a rare step late last month and fined two Saudi investors $26,673 each for insider trading. The CMA has imposed fines in the past and suspended trading in the shares of suspected shell companies, but bankers say this time the wealth and importance of one of the investors targeted make it significant.." [more]

~~~~~~~~ [ Jul 1]~~~~~~~~~

Haj Pilgrims Urged to Take Vaccine Against HINI Virus Well in Advance [Jul 1]
"Dr Abdullah Al Rabeeah, Saudi Minister of Health, asserted that his ministry has taken all precautionary measures to ensure the safety of Haj and Umrah pilgrims from HINI virus (swine flu). He urged pilgrims as well as those living in the holy places and those serving pilgrims to take the seasonal flu vaccine. "Pilgrims coming from all over the world must take the vaccine at least two weeks before traveling to the holy place. Instructions have been sent out to set up quarantine centres for Umrah pilgrims suffering from flu," he said, adding that the flu vaccine would be available before the Haj season.. ..The minister said he did not agree with claims that the media’s focus on the disease was larger than the actual danger. 'On the other hand, the danger of the disease comes from the absence of immunity and vaccination against it,'.." [more]

New Saudi TV Channel to Focus on Rights of Children [Jul 1]
"The first Saudi TV channel dedicated to educating children about their rights in society will start broadcasting this month.  Sana, the new satellite channel which will broadcast in Arabic 24 hours a day from Cairo, will feature cartoons and songs designed by international child behavior specialists in cooperation with the Ministry of Culture and Information’s Children’s Rights Awareness campaign. The campaign, which began three years ago, aims to use the media to make children and the general public aware of the 10 basic rights of all children. 'Sana will be the first Arab TV channel to broadcast songs and cartoons to explain Arab children’s rights,' said the channel’s director in Jeddah, Mohammed Al-Aggad. The Children’s Rights Awareness campaign has identified 10 basic rights of all children.." [more]

Kingdom to Have Own Aircraft Industry [Jul 1]
"An aeronautics industry will be developed in the Kingdom to assemble 48 Eurofighter Typhoon jets with the support of companies participating in the Economic Offset Program, Gen. Prince Abdul Rahman bin Fahd Al-Faisal, commander of the Royal Saudi Air Force, said yesterday. Speaking to reporters after receiving the first two Typhoon jets, part of the 72-aircraft deal signed with Britain’s BAE Systems, the general said the new fourth-generation planes with advanced facilities would strengthen the Kingdom’s defense capabilities.. ..Prince Abdul Rahman said some of the plane’s spare parts would be manufactured in the Kingdom. Since the signing of an operation and maintenance contract for these aircraft, a number of officers and engineers have been sent for training on advanced equipment by experts from the Britain’s Royal Air Force,” he said.." [more]

EADS Wins Saudi Border Deal With Local Partner [Jul 1]
"European aerospace group EADS EADS.PA and a Saudi partner have won a deal to secure the Saudi air, sea and land border worth billions of Saudi riyals, an official at the local partner said on Wednesday. 'It was signed last night,' the official at Al-Rasheed Trading & Contracting Co told Reuters, speaking on condition of anonymity. The deal covers the rest of the Saudi land border after the consortium already won a contract covering the northern border to Iraq and now also includes the air and sea borders, the official said. EADS in Saudi Arabia could not be reached for comment and there was no immediate Saudi government comment.." [more]

Saudi Requires OFWs to Submit Biometric Data [Jul 1]
"Filipinos seeking to visit or work in the Kingdom of Saudi Arabia (KSA) would need to provide biometric data as the Saudi Arabian government will be introducing a biometric system in the issuance of visa starting 2010. The move is part of Saudi Arabia’s efforts to strengthen its security, prevent identity theft, and combat terrorism. KSA’s biometric service centers would be established in major cities around the world starting 2010. There are about 1.3-million Overseas Filipino workers (OFWs) in Saudi Arabia. 'This important initiative has been taken to strengthen the Kingdom’s security and improve services to visa applicants,' KSA Ministry of Foreign Affairs Undersecretary Prince Khaled bin Saud said, adding that they would provide quick, quality service at reasonable charges.." [more]

Let Us Make Peace, Israel Tells Arab World [Jul 1]
"Israel on Wednesday utilised the platform of a global faith conference to reach out to the Arab world to bring about lasting peace in the Middle East. 'I call on his excellency, the king of Saudi Arabia, to meet wherever you wish, in Jerusalam, in Riyadh, in this beautiful country of Kazakhstan; we will be able to realise your vision (of peace in the Middle East),' Israeli President Shimon Peres said. He was addressing the third Congress of Leaders of World and Traditional Religions that Kazakhstan President Nursultan Nazarbayev inaugurated here today. 'We must stretch our hands one to another in a spirit of mutual commitment, with a prayer for peace and prosperity.'.. ..This is perhaps the clearest indication yet of Israel's desire to make peace more than six decades after its creation that has led to immense turmoil in the Middle East and sparked a series of violent conflicts.." [more]

~~~~~~~~ [ Jun 30]~~~~~~~~~

Egyptian President Holds Talks With Saudi King [Jun 30]
"With Palestinian factions continue to hold reconciliation talks in Cairo through Egyptian mediation, Egyptian President Hosni Mubarak and Saudi King Abdullah met at the Red Sea resort town of Sharm el-Sheik on Tuesday to discuss the issue. The meeting was the second in three days between the leaders. Mubarak held talks with Abdullah on Sunday in Saudi Arabia that the official Saudi news agency said were also mainly focused on 'the Palestinian issue.' Egypt has tried to mediate a reconciliation between Fatah, Hamas, and other Palestinian factions since Hamas took over the Gaza Strip in a bloody coup in June 2007.." [more]

Saudi Captures Wanted Qaeda Member [Jun 30]
"Saudi authorities captured a wanted Al-Qaeda member on Tuesday after a brief shootout in the central city of Buraidah, the interior ministry said. Ministry spokesman General Mansour al-Turki said he could not divulge the name of the man or details of his alleged crimes. 'Yes, he was involved in Al-Qaeda,' Turki said.. ..Turki added that the man was not one of the 85 people on a "most wanted" list published by Saudi Arabia in February and turned over to Interpol for inclusion on its wanted lists.." [more]

Pregnant Women, Elderly Urged to Skip Haj Pilgrimage [Jun 30]
"International experts have recommended children, pregnant women, the elderly and those with chronic diseases stay away from the annual hajj pilgrimage in Saudi Arabia to prevent catching swine flu. The recommendations come at the end of a four-day meeting in the western seaport city of Jiddah that examined Saudi measures to prevent the spread of swine flu during the Muslim pilgrimage in December. The workshop, which ended on Tuesday and included experts from the US Centres for Disease Control and Prevention and the World Health Organisation, was meant to allay fears of a wide-scale transmission of the disease during Haj.." [more]

Arabs Plan Anti-Piracy Joint Force [Jun 30]
"Arab states of the Gulf and Red Sea said Monday that they are planning a joint anti-piracy force, insisting defense of the crucial Red Sea waterway was the “primary responsibility” of littoral states. Saying it was necessary to prevent the spread of piracy to the Red Sea or the Gulf, 11 regional states agreed to set up an all-Arab Navy Task Force, to be led at the outset by the Saudis.. ..The delegates to the conference in the Saudi capital stressed the 'importance of the exclusion of the Red Sea from any international arrangements, especially the fight against sea piracy.' Royal Saudi Navy commander Lieutenant General Prince Fahd Bin Abdullah told journalists: 'This subject is now under negotiation and we are hoping to reach an agreement to form this force.' Joining the talks were representatives from Bahrain, Djibouti, Egypt, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, Sudan, the United Arab Emirates and Yemen.." [more]

Saudi-US Trade Grows 14% [Jun 30]
"The Embassy of the United States in the Kingdom has plans to facilitate visits by several Saudi delegations to the US over the next two months so that they may have a close view of how small and medium enterprises in the US function. The announcement was made by US charge d'affaires, Richard Erdman, in a meeting with the officials of the Jeddah Chamber of Commerce and Industry (JCCI) yesterday. Erdman is accompanying a US delegation currently visiting Jeddah. “The embassy is working on entry visas got the Saudi businessmen and businesswomen in addition to expanding the training program for Saudi students in the US,” Erdman said. The signing of various trade agreements between the two countries resulted in a 14 percent growth in bilateral trade between the two countries last year.." [more]

Saudi, Conoco Relaunch Yanbu Refinery Bidding [Jun 30]
"Saudi Aramco and U.S. ConocoPhillips (COP.N) said on Tuesday they would relaunch bidding for the 400,000 barrels per day (bpd) Yanbu refinery. The two companies stopped the bidding process to build the refinery in November, due to uncertainties clouding financial markets and after a drop in input costs. Cost estimates for Yanbu doubled last year to $12 billion from $6 billion when the project was announced in 2006. The two firms were initially planning to start the refinery in 2011. 'Market improvements have provided a good opportunity to reactivate the bidding process for the Yanbu export refinery project,' said Khalid al-Buainain, senior vice president for refining and marketing at Saudi Aramco, in a joint statement.." [more]

~~~~~~~~ [ Jun 29]~~~~~~~~~

Court Won't Hear Sept. 11 Claims vs. Saudi Arabia [Jun 29]
" The Supreme Court has refused to allow victims of the Sept. 11 attacks to pursue lawsuits against Saudi Arabia and four of its princes over charitable donations that were allegedly funneled to al-Qaida. The court, in an order Monday, is leaving in place the ruling of a federal appeals court that the country and the princes are protected by sovereign immunity, which generally means that foreign countries can't be sued in American courts. The Obama administration had angered some victims and families by urging the justices to pass up the case. In their appeal, the more than 6,000 plaintiffs said the government's court brief filed in early June was an 'apparent effort to appease a sometime ally' just before President Barack Obama's visit to Saudi Arabia.." [more]

Enemies Targeted Nation’s Security [Jun 29]
"Prince Naif, second deputy premier and minister of interior, said on Saturday Saudi Arabia is one of the most secure and stable countries of the world. 'The security and stability of this country along with its religion and economy have been targeted (by its enemies),' said Prince Naif during a dinner hosted in his honor by Makkah Gov. Prince Khaled Al-Faisal at the governor’s palace in Jeddah. 'Its determined people putting their trust in Almighty Allah have fought and defeated everyone who wished evil for the Kingdom. We live now in security and safety, thanks to Almighty Allah, then to the country’s prudent political leadership and the people standing steadfast behind their leaders.'.." [more]

Saudi Royal Denounces His Brother [Jun 29]
"A member of the Saudi royal family has called for the assets of his brother to be frozen. Prince Khaled bin Talal denounced his brother's media empire in an unprecedented public attack from within the ruling family. Prince Khaled accused Prince Walid bin Talal of disseminating vice and violating the rules of Islamic Sharia in the conservative kingdom. Prince Walid is one of the richest businessmen in the world. It has long been known that there is a split within the ranks of Saud family between liberals and conservatives. But, until now, they have always managed to keep a lid on the problem.. ..Prince Khaled, told an Arabic website that his brother's plan to introduce cinema into Saudi society was the straw that broke the camel's back.." [more]

Saudis to Sue Electricity Company Over Outages [Jun 29]
"Angered by the frequent power disruptions that are inflicting huge losses and damage to their industry, a group of Saudi businessmen and industrialists plans to sue the Saudi Electricity Company (SEC). They said that the SEC has failed to fulfil its commitment to provide an uninterrupted power supply. Several Saudi cities and regions have been hit by power disruptions without notice over the past few days. This resulted in both material and moral damage and losses to a large number of people, especially those in the industrial sector.. ..Meanwhile, sources at the Saudi Electricity Regulatory Authority said they had not received complaints about power disruptions. 'We will take stern action once we receive any such complaints,' the source said. It is noteworthy that Minister of Water and Electricity Abdullah Al Hussain recently attributed power disruptions in some regions of the Kingdom mainly to engine failure at three generators. He ruled out claims for compensation, saying there were also other causes for which the ministry was not accountable.." [more]

Saudi Arabia Expresses Concern Over The Situation in Somalia [Jun 29]
"Admiral Prince Fahd bin Abdullah bin Mohammed, the Commander of the Royal Saudi Naval Forces, said Monday that the Kingdom of Saudi Arabia has been following up with a great concern the current developments of the situation in Somalia. "The Kingdom is also worried about the state of instability in the country of the Horn of Africa due to the deterioration of the security conditions leading to aggravation of the piracy phenomenon, " he said.. ..Admiral Prince Fahd bin Abdullah pointed out that the Kingdom had welcomed Djibouti’s agreement which paved the way for the election of Sheikh Shareef Ahmad as a new President of Somalia He noted that the Kingdom's humanitarian assistance to Somalia has exceeded 0 million. 'It is well-known that sea-lanes constitute the major transportation means for our exports and imports,' he said, noting that 90 percent of the exports and imports come through the sea. 'This means that any threat to navigation will have an adverse impact on our economic security and our national security in general,'.." [more]

Jeddah to Establish Middle East's Largest Dialysis Centre [Jun 29]
"The largest dialysis centre in the Middle East, equipped with 140 machines to serve 800 patients daily, will be established in Jeddah at a cost of SR60 million. An Arab News report said that the centre will be named after the late Makkah governor, Prince Abdul Majeed, and will be fully funded by the Prince Fahd bin Salman Charitable Foundation For the Care of Kidney Patients.. ..The three-story centre will be built on an area of 10,000 sq. meters at the King Fahd General Hospital in Jeddah. Its staff will include 17 consultants in nephrology, 34 resident-physicians and specialists in addition to 280 nurses.." [more]

~~~~~~~~ [ Jun 28]~~~~~~~~~

US Loosens Security Rules for Diplomats in Saudi [Jun 28]
"The United States has eased tight security controls on its diplomats in Saudi Arabia, acknowledging an improvement in security four years after Riyadh squelched an Al-Qaeda campaign of attacks. But restrictions remained tighter than in most other countries as Washington warned in a statement on Friday that 'there is an ongoing security threat due to the continued presence of terrorist groups' in the country. The announcement on the State Department's travel warnings website said diplomats at the US consulate in the eastern city of Dhahran would be able to have their families live with them. Diplomats in the capital of Riyadh would be able to have adult family members and non-school age children with them. However, diplomats attached to the consulate in Jeddah, the target of a 2004 attack that left five people dead, would still not be able to have relatives with them. While not mentioned in the statement, Washington is also allowing diplomatic staff to remain in Saudi Arabia for two years, rather than the one-year tour that had been standard for several years.." [more]

Saudi Unlikely to Cut Repo Rate in Next Quarter [Jun 28]
"Saudi Arabia is unlikely to cut its benchmark lending rate in the third quarter, a Reuters poll showed after the kingdom's central bank sought to boost lending by halving the rate it pays to commercial banks for deposits. The world's top oil exporter's economy is expected to contract 0.2 percent in 2009 at constant prices compared to 4.2 percent growth last year, according to median forecasts of 14 economists and analysts. The Saudi Arabian Monetary Authority (SAMA) on June 16 lowered to 0.25 percent its reverse repo rate, prompting some analysts to expect a follow-on cut to its benchmark repo rate, which has remained unchanged at 2 percent since Jan. 19. Only four of those polled said they expected the Gulf Arab state to cut its repo rate before the end of this year, while another four saw a cut coming either in 2010 or 2011.." [more]

Saudi Arabia Has Too Many Clerics: University Head [Jun 28]
"The Saudi job market does not need more graduates in Islamic studies, the head of one of Saudi Arabia's newest universities said in remarks published on Sunday. The comments by Mohammed Ali al-Hazaa, who directs Jazan University in the south, could irritate many in the influential religious establishment which has held back reforms aimed at creating a modern state and combating Islamic militancy. Founded in 2006 by King Abdullah, Jazan University does not have a faculty for religious studies, unlike other universities in the conservative kingdom, the world's biggest oil exporter. 'There is no need in the job market for graduates in Sharia (Islamic law) and the foundations of religion. We don't want to increase unemployment and the market is saturated,'.." [more]

Saudi Arabia to Form Scientific Panel in Fighting Swine Flu [Jun 28]
"UAE Minister of Health Dr. Abdullah Al Rabeeah has directed to constitute a scientific committee to work out conditions and modalities for medical check up and treatment of those affected by swine flu at all the entry points to the Kingdom. The committee, which would comprise of international experts and consultants, would come out with proposals to put them in place before the ensuing peak season of Umrah and Haj.. ..As many as 20 experts from the US Centers for Disease Control and Prevention and World Health Organisation (WHO) are gathered in Jeddah to assess Saudi Arabia’s precautionary steps as well as to offer recommendations and modifications if necessary. The workshop was aimed at studying methods of creating awareness, providing treatment and ways of preventing the disease.." [more]

Foreign Assets Dip SR16 Billion in May: SAMA [Jun 28]
"Saudi Arabia’s foreign assets continued to decline for the sixth straight month in May, but at a slower pace, after almost a decade of steady growth driven by rising oil prices, official data released Saturday show. Foreign assets controlled by the Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank, declined 1.07% to SR1.483 trillion ($395.47 billion) in May, compared to a month earlier. The Kingdom has shed $47.7 billion in foreign assets since November 2008, according to a report posted on SAMA’s website. SAMA governor Muhammed Al-Jasser said last month the Kingdom was not selling foreign assets. He said Saudi Arabia was using its accumulated foreign assets to stave off an economic decline. 'Oil prices are going down, revenue from oil is going down, but our spending continues to be very robust. That’s what we accumulate foreign reserves for,'.." [more]

Kingdom, Canada Boost Trade Ties [Jun 28]
" In another boost to Saudi-Canadian trade relations, three multimillion-dollar trade agreements between three Canadian and Saudi companies were signed here on Saturday in the presence of the visiting Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway Stockwell Day and Saudi Minister of Commerce and Industry Abdullah Ahmed Zainal Alireza.. ..The Canadian minister said 'Canada is building on these successes and creating more opportunities for Canadians and Saudis alike to prosper and thrive during this global economic downturn.' He underscored that his visit serves to strengthen 'our relationship with Saudi Arabia and to promote Canadian companies as world-class suppliers of quality goods and services. Canadian companies can benefit from a stronger commercial relationship between our countries. This is particularly true in sectors such as aerospace and defense, infrastructure projects, oil production, mining, health, education and agriculture.'.." [more]

Korean Naval Ships Here on Goodwill Mission [Jun 28]
"The Republic of Korea Navy Cruise Training Task Group arrived here Saturday at the Jeddah Islamic Port. The goodwill visit is part of a nine-country tour of the group for the same purpose. Addressing a press conference on board the ship, the captain of the group, Commander Rear Admiral Kim Dong-kyun said the arrival of the group has nothing to do with the recent piracy problem close to the coast of Somalia. 'This visit is for training purposes despite the readiness of these ships for other tasks,' Kim said. Saudi Arabia and Korea, he said, share mutual interests and added that his country was keen to show respect and loyalty to Saudi Arabia through such cooperation. 'We are indebted to Saudi Arabia for supporting South Korea when it was financially weak in the 70s. With such cooperation we are paying back to this great country in a loyal way,'.." [more]

SECO Sukuk Orders Exceed $1.87 Billion [Jun 28]
" Saudi Electricity Co., the state- controlled power producer, received more than 7 billion riyals ($1.87 billion) in orders for this year’s largest Islamic bond sale, a banker familiar with the transaction said. The five-year Islamic bonds, known as sukuk, may be priced to yield 160 basis points over the Saudi interbank rate, said the banker, who declined to be identified before the sale is completed. The utility paid 45 basis points over the Saudi benchmark in 2007 when it raised 5 billion riyals in its first sukuk sale, Bloomberg data show. A basis point is 0.01 percentage point. Companies in the Arab world’s largest economy are seeking other ways to finance projects as the global crisis prompts banks to tighten lending. Saudi Arabia, which has the largest bourse by market value in the Middle East, started an electronic market for bond trading this month as part of its efforts to broaden sources of financing. The utility may seek the Capital Market Authority’s permission to increase the size of the bond, the banker said, adding that the settlement date for the issue is July 6.." [more]

Jun 21-Jun 27, 2009

~~~~~~~~ [ Jun 27]~~~~~~~~~

Saudi-Egyptian Summit to Discuss Mideast Peace [Jun 27]
"King Abdullah and Egyptian President Hosni Mubarak are to hold a summit meeting in Jeddah Sunday to discuss issues including the Arab response to Benjamin Netanyahu’s recent speech, the Palestinian reconciliation process and strengthening Saudi-Egyptian strategic relations. Sources said the summit meeting would provide the opportunity for the two leaders to exchange views on proposals from the Obama administration regarding regional issues and on strengthening joint Arab work.." [more]

Banks Lead Saudi Index to Lower Close [Jun 27]
"Banking stocks lead the Saudi bourse's all-share index to a lower close mainly due to concerns over their exposure to troubled family-owned businesses and after the announcement of poor credit data for May. The all-share TASI index ended 0.14 percent lower at 5,601 points. Samba Financial Group, the second-largest listed lender, led losers after it closes 4.06 percent lower at 42.5 riyals ($11.33), its lowest level in almost three months.. ..'Banks are pressing negatively on the market. There are no disclosures about their exposure on loans granted to businessmen such as Maan Al Sanea and Algosaibi Group,'.." [more]

Saudi Arabia Hopes to Go for Gold [Jun 27]
"..Al Amar, 200km southwest of Riyadh, is one of five gold mines operated by Ma'aden, the Saudi mining company. Ma'aden produced 127,744 ounces of gold worth 420 million riyals ($112 million) last year, and is responsible for the bulk of Saudi Arabia's production which last year reached 5.7 tonnes. But, despite gold discoveries which added another 1.3 million ounces to reserves previously estimated at 8.2 million ounces, production dropped 14 per cent last year, from a peak of eight tonnes in 2003. 'The challenge we face is infrastructure and water in particular,'.. ..By developing the kingdom's mineral reserves, the government aims to create careers for young Saudis and reduce an unemployment rate officially put at nine percent. Moreover, mining provides jobs in remote areas where unemployment is often highest. The kingdom also hopes to develop a competitive edge in gold and other industries that benefit from cheap fuel and relative political stability.." [more]

Kingdom, Yemen Consider Border Economic City [Jun 27]
"Yemen and Saudi Arabia are considering the establishment of an economic city at the Al-Wade’a crossing on the border between them. The announcement was made during the recent meeting of the Yemeni-Saudi Businessmen Council. Earlier, Saudi Crown Prince Sultan Bin Abdul Aziz gave an order to conduct a feasibility study for the project. The idea first came to light in 2006 at a meeting of the Yemeni-Saudi Coordination Council. The leaders of the two countries welcomed it, with each ordering the relevant authorities in each country to start practical steps including identifying the project site and providing infrastructure and other requirements to bring the project into the light.." [more]

Women’s Transport: Solutions Needed [Jun 27]
"In Saudi Arabia, the only country in the world where women are not allowed to drive, transportation is definitely an issue. Women are usually driven around by family members and personal drivers, or are forced to use some other type of private transportation. While the private transport is a booming business, the higher the demand the more expensive the supply becomes. Providing alternative solutions is the only exit. Some companies provide cars and drivers to ferry their women employees for work purposes, but not all companies have the budget to do that. Workingwomen, meanwhile, find it difficult getting to work and are often charged thousands of riyals a month in transportation.." [more]

~~~~~~~~ [ Jun 26]~~~~~~~~~

Means of Enhancing Yemeni- Saudi Trade Cooperation Discussed [Jun 26]
"Yemen and kingdom of Saudi Arabia have held talks over means of boosting trade cooperation between the two neighboring countries. Upon his arrival from Saudi Arabia, the Minister of Trade and Industry Yahya al-Mutawakel told Saba that the talks with the Saudi officials of trade ministry over commercial ties between the two countries. Al-Mutawakel said that his visit to Saudi Arabia came in reply to an invitation of his Saudi counterpart to follow up outcomes of Yemeni-Saudi trade technical team's meeting which was held recently in Sana'a. He said that the talks affirmed of setting up Yemeni-Saudi Businessmen council, highlighting support of the kingdom for joining Yemen to the corporations of Gulf Cooperation Council (GCC).." [more]

War on Drugs to Continue [Jun 26]
" Col. Abdullah Al-Qahtani, acting director of the Drug Combating Department in Jeddah, said yesterday Saudi Arabia will continue its campaign against drug smugglers and traffickers. 'Saudi Arabia is a permanent partner of humanity in combating this poison,' Al-Qahtani said in a statement on the occasion of World Anti-Drugs Day today. 'We’ll use all means to prevent illicit trade of drugs.' Al-Qahtani said the Kingdom shares the feelings of the international community on the need to combat drugs. Saudi Arabia is one of the first signatories to the 1987 United Nations agreement to fight illicit drugs. 'Drugs not only affect the individuals who abuse them but also the community in which they live,' he said.. ..Saudi Arabia applies capital punishment on drug traffickers on the basis of a ruling by the Council of Senior Islamic Scholars in 1986. The scholars defined drug trafficking as a socially corrupting offense for which capital punishment may be applied in accordance with Shariah.." [more]

New Law Gives Greater Role to Businesswomen [Jun 26]
"The new law for the Council of Saudi Chambers of Commerce and Industry (CSCCI) gives greater powers to businesswomen, Fahd Al-Sultan, secretary-general of the council, said yesterday. 'The new law, which replaces the existing 50-year-old law, will be passed within a few days,' he said. Speaking to Arab News after attending a seminar on 'Developing a new concept and culture of chamber elections' at the JCCI, Al-Sultan said the new law was designed to provide the council with necessary flexibility. 'The law has already been studied by the committee of experts at the Council of Ministers and has been passed to the minister of commerce and industry for his endorsement before presenting to the Cabinet for final approval,' he said. Al-Sultan said the new law gives businesswomen a greater role in the council as well as in the development of the country. 'Even if only women are elected to the CSCCI board, there is nothing in the law to prevent it,' he pointed out.." [more]

New Tender for $9bn Ras Azzour Water Project on the Cards [Jun 26]
"Saudi authorities are expected to call for new tenders from specialized companies to establish the proposed $9 billion Independent Water and Power Production (IWPP) project in Ras Azzour, Saudi and foreign investors have said. Saudi Arabia required new investments worth more than $50 billion for desalination projects during the next 10 years, Asharq Al-Awsat Arabic daily said quoting informed market sources. Tarik Al-Tamimi, chairman of Tamimi Group, described investments in the Kingdom’s water sector as the most feasible as the Kingdom depends mainly on desalinated water for the consumption of its growing population and meet industrial requirements. Saudi Arabia is the world’s largest producer of desalinated water. It consumes nearly 2.5 billion cubic meters of water annually and about half of which (1.1 billion cubic meters) comes from its desalination plants on the Red Sea and Arabian Gulf.." [more]

OPEC Helps Savvy Oil Traders Sell Millions of Barrels [Jun 26]
"Oil traders are relying on an unwitting ally, OPEC, to help them quietly exit what experts say is one of their most lucrative gambits ever -- storing vast oil supplies at sea to sell later for profit. Trading firms like Koch KCHIN.UL and Vitol have sold millions of barrels from supertankers into the United States over the past month to cash in after crude prices doubled since winter, tanker brokers told Reuters. The oil sold ashore has gone almost unnoticed, offset by output cuts by the Organization of the Petroleum Exporting Countries that allowed traders to unload tankers without causing a tsunami of U.S. oil imports that would crash prices. U.S. imports, including sales from the tankers, rose 3 percent to 9.3 million barrels a day last week, still below an average 9.4 million bpd this year. OPEC and crude traders are often at odds, with OPEC blaming speculators for wild oil price swings. But the tidy sell-off of seaborne crude shows how their interests can also align, and how each side anticipates the other's moves.." [more]

~~~~~~~~ [ Jun 25]~~~~~~~~~

SelTtrac Awarded Saudi Makkah Metro Project [Jun 25]
"Thales’s world-leading SelTrac Communications-Based Train Control (CBTC) system solution has been awarded a contract worth €103 million by China Railway Construction Corp. (CRCC), for the Makkah Metro project. Thales will supply, integrate and deploy its proven driverless train control and telecommunication systems for the Al Mashaaer Al Muqaddassah Metro project, the first for the Makkah region, Saudi Arabia, said the company. The metro line will operate with Automatic Train Protection in time for the Hajj (pilgrimage) of November 2010. By mid 2011, in preparation for Ramadan, the line will operate driverless with an attendant on board. The metro will service three main areas each with three substations. The new trains will have the capacity to move 72,000 passengers per hour per direction.." [more]

Iraq PM Slams Cleric's Death Calls [Jun 25]
"Iraqi Prime Minister Nuri al-Maliki on Thursday criticised Arab and Muslim countries for their silence on calls by a senior Saudi cleric for Shiite scholars to be killed. The Iraqi leader made the remarks a day after a massive bomb in the predominantly Shiite neighbourhood of Sadr City in northeastern Baghdad killed 62 people and wounded 150. 'We have observed that many governments have been suspiciously silent on the fatwa provoking the killing' of Shiites.. ..He was referring to comments made by Mecca Mufti Sheikh Adil al-Kalbani last month to the BBC that 'Shiite clerics are infidels.'  'The Shiites have no right to be represented in the (Saudi) senior scholarly committee,' Kalbani said. 'The Shiite public, it's a matter of discussion (as to whether they are infidels). Shiite clerics are definitely infidels, without question.' According to Islam, it is permitted to kill infidels.."  [more]

World's Tallest Skyscraper to be Built in Saudi Arabia [Jun 25]
"Saudi business mogul Prince al-Waleed bin Talal's Kingdom Holding company announced last week that it had signed an agreement for the construction of the world's highest skyscraper. According to the company's statement, the skyscraper will be 1,000 meters (3,280 feet) high and will be built in the city of Jeddah off the Red Sea. Dubai's Emaar Properties real estate company will be in charge of developing the project. The project, named Kingdom Tower, will spread over 23 million square meters and will include commerce, housing and office areas. It will be built not far from Jeddah's international airport. The total cost of the project is estimated at some $27 billion, and the tallest tower in the world will be built in its center. The tallest tower in the world today is Burj Dubai, which is 800 meters (2,625 feet) hight and is still being built by Emaar.." [more]

All Visa Seekers to be Photographed and Fingerprinted [Jun 25]
"Saudi Arabia will introduce fingerprinting and full-face digital photographs for visa applicants next year as part of its efforts to strengthen its security, prevent identity theft and combat terrorism. The Ministry of Foreign Affairs announced yesterday that it was calling for tenders from specialized international firms to set up a network of centers to provide biometric services to people applying for visas to the Kingdom. 'This important initiative has been taken to strengthen the Kingdom’s security and improve services to visa applicants,' said Prince Khaled bin Saud, undersecretary at the ministry. He said authorized biometric service centers would receive visa applications on behalf of Saudi embassies and missions, adding that they would provide quick, quality service at reasonable charges.." [more]

26 Saudis Selected for UK Program [Jun 25]
"Twenty-six Saudi academics, including 10 women, will leave for the United Kingdom under the annual Post-Doctoral Summer Research (PDSR) Program of the British Council. 'They will travel shortly to the United Kingdom to take part in the British Council’s 2009 PDSR program. The Saudi academics will work alongside their UK counterparts in selected areas of specialization,' said Jim Scarth, the council’s director.. ..The British Council started the PDSR in 1989, with King Fahd University for Petroleum and Minerals, to develop a research collaboration program aimed at facilitating the Saudi specialists to work alongside their UK counterparts. Since 1991 the British Council has been awarding around 20 Saudi academics annually the opportunity to take part in its PDSR program.." [more]

Aramco Shifts Focus to Gas as Oil Expansion Ends [Jun 25]
"Saudi state oil giant Aramco is shifting its exploration and production focus to gas to meet rapidly rising domestic demand as its program to expand oil capacity comes to a close. Falling global oil consumption has left the Kingdom sitting on its biggest supply cushion in years and allowed it to shift attention from oil to booming gas demand at home. 'There will be more gas developments,' a senior source at Aramco told Reuters. 'We are expanding gas activity and we are slowing down oil.' 
Saudi gas demand has risen with an economic boom financed by record crude export revenues as the oil price rallied from 2002 to 2008. Economic momentum continues, despite lower oil prices, as the Kingdom presses ahead with projects to diversify away from dependence on crude sales revenue. 'Gas is a high priority as it is used to fire power plants, to desalinate water and as a feedstock for petrochemicals,'.." [more]

~~~~~~~~ [ Jun 24]~~~~~~~~~

No Interference in Lebanon: KSA [Jun 24]
"Saudi Ambassador to Lebanon Ali Asiri has refuted a report in the US magazine Newsweek concerning the Kingdom’s funding of the elections in Lebanon. 'The Saudi leadership’s attention is always focused on the unity and stability of Lebanon and all Lebanese people across the board, and we deny these allegations,' Asiri said. He said that as a new ambassador he must maintain communications with all political powers.." [more]

Documents Show Saudi-Extremists Links [Jun 24]
"Lawyers for families of Sept. 11, 2001, victims say they have documents linking members of Saudi Arabia's royal family to al-Qaida and other extremists. That evidence, however, may not see the legal light of day because of legal and diplomatic roadblocks in the long-running effort by the families to sue the Saudi government and its leaders in the attacks on New York and Washington, The New York Times reported Wednesday.. ..Saudi lawyers countered that the ties are weak, saying Saudi Arabia is being sued because of its vast wealth and because it was home to 15 of the 19 hijackers. 'In looking at all the evidence the families brought together, I have not seen one iota of evidence that Saudi Arabia had anything to do with the Sept. 11 (2001) attacks,' Michael Kellogg, a Washington lawyer representing Prince Muhammad al-Faisal al-Saud in the lawsuit, told the Times.." [more]

Saudi Blasts Burka Comments [Jun 24]
"Journalists in ultra-conservative Saudi Arabia blasted France on Wednesday over President Nicolas Sarkozy's criticism of the burka, the head-to-toe garment favored for women by conservative Muslims. 'What about personal freedom? What about respect for people's traditions and privacy?' Mr Dawood al-Shiryan asked in Al-Hayat.. ..On Monday Mr Sarkozy called the burka a sign of women's 'subservience' that was 'not welcome' in staunchly secular France. 'We cannot accept to have in our country women who are prisoners behind netting, cut off from all social life, deprived of identity.' An editorial in Arab News said the French approach to the burka was founded in the country's secular society, while the Dutch and Danish attempts to restrict it were rooted in anti-Muslim, anti-immigrant racism. It said 'France must tread carefully.'.." [more]

Japan Refiner Eyes Solar-Power Business in Saudi [Jun 24]
"A Japanese oil refiner said that it was considering operating solar-power plants in Saudi Arabia, the world's top oil exporter, in cooperation with state-owned energy giant Saudi Aramco. Showa Shell Sekiyu said it had agreed with Saudi Aramco, the world's biggest state-owned oil company, to 'explore the possibility of engaging in a small-scale electricity generation business using solar power'. After initial studies, small pilot plants will be built by 2010 to test technologies, the Tokyo-based company said. The firms will set up a joint venture to expand the business, possibly beyond the Middle East, if the plants prove commercially viable, it said. Saudi Arabia has the world's largest proved reserves of crude oil but has also been looking to invest in solar power. Japan, which has virtually no natural energy resources of its own, aims to take the lead in environmentally friendly energy.." [more]

King to Patronize Forum For Trainers of Culture of Dialogue [Jun 24]
"King Abdullah, Custodian of the Two Holy Mosques, is scheduled to patronize on Saturday a three-day forum for authorized trainers to spread the culture of dialogue. The forum is being organized by the King Abdul Aziz Center for National Dialogue at King Faisal Conference Hall in Riyadh.. ..the forum comes within the continuing efforts for training a large number of male and female trainees who would lead the initiative to acquaint people with dialogue and the values of moderation and tolerance in all parts of the Kingdom. He said these efforts would continue until the culture of dialogue is instilled in the Saudi society. He said over 150,000 male and female citizens have benefited from the training projects and dialogue programs.." [more]

BNP, Citi Exposed to $6.3 Billion Saudi Debt Workout [Jun 24]
" BNP Paribas SA and Citigroup Inc. provided about $500 million each in syndicated loans to companies owned by Saudi billionaire Maan al-Sanea and the Algosaibi family, making them the most at risk to the country’s largest debt restructuring.  The banks top a list of 37 creditors that provided $5.6 billion to units of Saad Group, the construction and finance company whose owner al-Sanea has had accounts frozen, according to a document provided by one lender that shows the breakdown for the first time. The creditors lent another $700 million to Ahmad Hamad Algosaibi & Brothers Co. Banks that provided at least $64 billion to Saudi borrowers in the past five years as record oil prices spurred economic growth for the world’s biggest crude exporter now risk losses because the country’s first recession in a decade is threatening the wealth of some of the most powerful families.." [more]

$3.7bn Deals Done at Cityscape Saudi Arabia [Jun 24]
"More than SAR14 billion ($3.7bn) worth of deals were done at Cityscape Saudi Arabia, organisers revealed on Wednesday. And Shuaa Capital Saudi Arabia officials announced that it was in the process of organising finance for hospitality projects worth a further SR2bn, as a direct result of the real estate show. One hundred companies took part in the exhibition earlier this month which attracted in excess of 8,500 visitors.. ..'Irrespective of the total size of the onsite orders, what it clearly demonstrates is that the Saudi real estate market is very much alive and well,'.." [more]

Oz Visa for Saudis in Two Days [Jun 24]
"The Australian government has announced it has reduced the processing time for Australian visas with an aim to ensure that a Saudi applicant gets his or her visit visa within two days. Previously, an Australian visa application submitted by a Saudi national or a resident could take weeks to process. 'This is a good development that the Australian visa turn-around time has been reduced,' said Roy Clogstoun, deputy chief of mission at the Australian Embassy. 'The announcement to reduce the processing time is a welcome move,' said Arif Rahman, who works for a travel and tourism organization. This will also boost business traffic and passenger loads on flights to Australian destinations, he added. There are increasing people-to-people contacts between Australia and Saudi Arabia.." [more]

~~~~~~~~ [ Jun 23]~~~~~~~~~

Saudi Aramco Awards Japan's JGC Petchem Deal [Jun 23]
"The Saudi Arabian Oil Company and Sumitomo Chemical Co. Ltd. said Tuesday they had selected Japan's JGC Corporation to conduct a feasibility study for the expansion of the giant Petro Rabigh refining and petrochemical complex in the oil-rich kingdom. The study would be completed by the third quarter of 2010 and, if proven viable, a decision would be made on the implementation of the expansion of the Rabigh project, Saudi Aramco said in a statement. Aramco, Saudi Arabia's state-owned oil giant, and Sumitomo, one of Japan's biggest chemical companies, signed a memorandum of understanding in April to conduct the feasibility study for the second phase. The two companies had joined forces in 2005 to upgrade an exiting 400,000 barrel per day refinery with the addition of a petrochemical complex. The export-oriented project is another part of OPEC powerhouse Saudi Arabia's push to build new production and refining capacity, as well as greater integration of its existing ventures.." [more]

Morgan Stanley Launches Equity Trading in Saudi Arabia [Jun 23]
"Morgan Stanley Saudi Arabia (MSSA) has launched equity trading in Saudi Arabia on the KSA stock exchange, Tadawul.  The move will allow the bank and its customers to engage in cash equities trading and will allow Saudi, as well as GCC, investors to benefit from Morgan Stanley’s global expertise. The launch of equity trading in Saudi Arabia comes after the bank embarked upon economic and equity strategy research coverage in the country. MSSA chairman Dr. Fahad Almubarak has stated that Saudi Arabia is a key market for Morgan Stanley, and that with the recent launch of equity strategy research and equity trading the bank is in a critical stage of developing its presence in the country.." [more]

Germany, Saudi Arabia Muscle Into Top 500 Supercomputer List [Jun 23]
"Computers in Germany and Saudi Arabia are now among the fastest in the world, but the bi-annual Top500 list of the world's most powerful supercomputers is still topped by the Roadrunner system at the U.S. Department of Energy's Los Alamos National Laboratory.. ..A third notable newcomer to the Top500 list is the Shaheen, which can handle 185.17 teraflops and is installed at the King Abdullah University of Science and Technology in Saudi Arabia. It is also an IBM system.." [more]

Saudi Stocks Decline to 7-Week Low [Jun 23]
"Saudi Arabia’s index slumped to its lowest finish for seven weeks as most Gulf Arab markets fell on weakening oil prices and worries over banks’ exposure to two troubled Saudi conglomerates. The market saw a downward pressure with very weak liquidity yesterday. Only 6 sectors made gains, with the Media and Publishing sector leading with 1.40 percent gain. On the losses front, 9 sectors posted losses ranging from 0.11 percent for Multi-Investment to 1.55 percent for Agriculture & Food Industries. Market breadth was negative, with 45 advancers and 74 decliners registering an AD ratio of 0.60, the Jeddah-based Financial Transaction House (FTH) said. The Tadawul All-Share Index (TASI) closed 0.58 percent down at 5,708.67 yesterday.." [more]

GCC Signs Free Trade Accord With EFTA [Jun 23]
"The six-nation Gulf Cooperation Council (GCC) and four European states, which are members of the European Free Trade Association (EFTA), signed a free trade agreement (FTA) in Norway yesterday. On behalf of the GCC, Abdul Rahman Al-Attiyah, GCC secretary general, signed the FTA, while the ministers of trade and economy from Switzerland, Norway, Iceland and Liechtenstein signed the accord on behalf of EFTA. The EFTA is composed of the four European countries that have not join the EU. It is an intergovernmental organization set up for the promotion of free trade and economic integration for the benefit of its member states.." [more]

Kingdom’s Private Pharmaceutical Sector Valued at SR11b [Jun 23]
"Amid a growing demand for healthcare services in Saudi Arabia, Banaja Holdings, formerly Saudi Import Company, unveiled on Sunday its new corporate identity and group management restructuring. The new name and management structure for Saudi Import Company will fuel greater efficiencies and further growth.. ..With steady 15 percent year on year growth over the last five years, the organization’s restructuring will further develop and mature pharmaceutical market.  The Kingdom’s pharmaceutical sector is valued at SR11 billion ($2.9 billion), of which 11 percent is held by Banaja Holdings.."  [more]

What the Arab World Is--and Isn't--Saying About the Protests in Iran [Jun 23]
"As Western media outlets obsessively cover the protests in Iran, the Arab press has been approaching the events with mixed emotions. Since much of the media in the Middle East is state-controlled, press coverage provides an interesting window into the complex relationship between Iran and the Arab world. Egypt and Saudi Arabia have been leading Arab opposition to Iran's nuclear program. These countries, worried about Iran's quest for regional domination, would be expected to highlight the recent tumult in their state organs. But the media in both countries have been eerily quiet on the issue.. ..The lackluster coverage belies the fact that Egypt and Saudi Arabia, as much as they fear Iran's regional designs, are probably just as afraid of their uncomfortable internal similarities.." [more]

King Abdullah's Pledge [Jun 23]
"The word "pledge" is most often used for political and propaganda purposes as a means of publicizing something or promoting strategic goals for political regimes that lack credibility with the public. However this is not a correct definition of the word, and it is possible for the word "pledge" to be used accurately [such as in the case of King Abdullah].. ..In only a short period of time, King Abdullah has managed to make many political, economic, intellectual, and social achievements in areas that had previously been stagnating. The King has opened files that were previously impossible to discuss, or even think about.." [more]

~~~~~~~~ [ Jun 22]~~~~~~~~~

Iran overtakes Saudi as China's No.1 Crude Supplier [Jun 22]
" Iran overtook Saudi Arabia in May as China's top crude supplier, Chinese customs data showed on Monday, but traders said it was partly due to a supply cut from the Saudis. Beijing-based trading officials cautioned against reading too much into one month's figures, which they said may have been skewed due to technical problems such as port congestion that pushed back or forth imported cargoes for customs clearance. Iran, the world's fifth-largest crude exporter, shipped into China 3.088 million tonnes of crude, or 727,000 barrels per day last month, a rise of 88 percent from a year ago. Exports from the world's top exporter, Saudi Arabia, however, slipped 15.5 percent on year to 2.76 million tonnes, or 650,000 bpd, official data from the General Administration of Customs showed. 'Saudis can't supply the amount of heavy grades Chinese refineries asked for, as most of the OPEC-agreed cuts are on these heavy grades,' said one trader close to state-run Saudi Aramco.." [more]

Saudi King Receives Russian Presidential Envoy [Jun 22]
"Saudi King Abdullah received a Russian presidential adviser and an official from the country's arms export company in Riyadh Sunday, the Interfax agency reported, citing the Kremlin press service. Sergei Prikhodko transmitted a personal message from President Dmitry Medvedev, said the Kremlin. With him was Alexander Saltanov, Medvedev's special envoy to the Middle East; and Anatoly Isaykin, head of Rosoboronexport, Russia's arms export service. After a period of tension between the two countries, relations improved in July 2008 with the signing of a military cooperation treaty. According to the Russian daily Kommersant, Saudi Arabia is mainly interested in buying Russian tanks and helicopters.."  [more]

40% Surge in Saudi Applications to UK Universities [Jun 22]
"A 40 percent surge in the number of Saudi applications to British universities and new rules for UK study permits is delaying the visa application process for Saudi students, prompting fears that some may not be able to begin their studies on time.  The British embassy in Riyadh has hired extra staff to deal with the number of visa applications from Saudi students, which has risen by 40 percent from the same period last year, the Al Arabiya Arabic website reported.. .. As of March this year, visas will only be granted to students who “show a proven track record in education” and are applying for a course that meets a minimum level of qualification. They must also be able to demonstrate they can support themselves financially.."  [more]

KSU, Missouri University Signs Partnership Accord [Jun 22]
"King Saud University (KSU) has recently signed an educational partnership agreement with US Missouri University for Science and Technology. The agreement was signed by Deputy Rector of King Saud University Dr. Abdulaziz Al-Ruwais and Deputy Rector of Missouri University Dr. Benjamin Do. King Saud University’s Deputy Rector for Knowledge Exchange and Technology Transfer Dr. Ali Bin Saeed Al-Ghamdi said that this agreement will open the door to opportunities for exchange of knowledge and technology transfer between the two universities, pointing to the start with Missouri University of a specialization of M.Sc. Joint Program of Engineering Management which is the first of its kind in the Middle East.." [more]

Saudi Electricity Gets $1.09B Loan for GE Turbines [Jun 22]
"The Saudi Electricity Company said Monday it had secured a 4.1 billion riyal ($1.09 billion) loan from the U.S. Export-Import Bank and Canada's Export Development Credit to finance the purchase of power generation units. The 12-year loan is to fund the purchase of 23 turbines made by U.S. giant General Electric ( GE - news - people ), the official Saudi Press Agency reported. The units will help boost power generation capacity in Riyadh, the Saudi capital, as well as in some areas in the eastern part of the country by about 2,900 megawatts, the company said in a statement posted on the Saudi exchange's Web site. Saudi Arabia has been working to boost power generation capacity to meet increased demands linked to a series of new mega-projects in the kingdom, as well as a growing population.." [more]

~~~~~~~~ [ Jun 21]~~~~~~~~~

Hotel Sector Gets Major Boost as Religious Tourism in Saudi Grows [Jun 21]
"The Elaf Group of Companies, a business organisation serving the Saudi Arabian travel, tourism and hotel industries, has announced that it has recently launched a major expansion initiative in the Saudi hotel sector, driven by a significant surge in religious tourism, which according to recent reports has achieved a remarkable 30 per cent growth in the first quarter of 2009. Elaf has particularly prepared for the new Umrah season that started in February 2009, noting a considerable growth trend as around 3.5 million pilgrims are expected to visit the Kingdom in the current Umrah season. Religious tourism in Saudi generates around USD 7 billion annually according to recent reports.." [more]

Saudi-Palestinian Summit Today [Jun 21]
" King Abdullah, Custodian of the Two Holy Mosques, and Palestinian President Mahmoud Abbas are scheduled to hold a summit in Jeddah on Sunday to discuss Arab moves in the light of the recent speech made by the Israeli premier Benjamin Netanyahu, as well as the faltering peace process and the latest developments concerning Palestinian land and Palestinian dialogue. Palestinian sources say that President Abbas will hear the King’s vision for a lasting, just and comprehensive solution to the Palestinian issue and the establishment of an independent Palestinian state with Jerusalem as its capital. The two leaders will also discuss ways of pushing forward the Arab peace initiative.." [more]

Saudi Oil Production at 12-Month Low [Jun 21]
"Saudi Arabia’s oil production fell by 320,000 barrels in April to its lowest level this year, according to the latest official figures from the kingdom. A recent update to the international database maintained by the Joint Oil Data Initiative (JODI), which uses figures submitted by its member countries, showed Saudi crude output at 8.038 million barrels per day (bpd) in April, down from 8.358 million bpd in March. The JODI data series shows that the world’s biggest oil exporter has sharply reduced crude production, by 1.5 million bpd or nearly 16 per cent since last August, as it has led OPEC in a series of cuts aimed at stabilising prices.." [more]

Saudi Hospitals on Full Alert Over Swine Flu [Jun 21]
"Emergency departments at government hospitals in Saudi Arabia are on full alert to deal with swine flu cases as the number of people diagnosed with the virus rises to 34.. ..Meanwhile, the Kingdom and the World Health Organisation (WHO) are working together to finalise a plan to deal with a possible swine flu outbreak among Makkah pilgrims. Fears are heightened, reported Gulf News, because nearly 16,000 Muslims from the United States, where the virus has been most severe affecting 17,000 people and killing 44, perform the Hajj each year. The Saudi health authorities are reported to be stockpiling medicines to deal with any outbreak.." [more]

Conjoined Moroccan Twins Successfully Separated in Riyadh [Jun 21]
"Conjoined twins from Morocco were successfully separated on Saturday at King Abdul Aziz Medical City of Riyadh. The operation, headed by the Minister of Health Dr Abdullah Al Rabee’ah, took more than 11 hours to complete and makes it the 22nd successful separation by Saudi medical teams in 19 years. 'The seven-phase surgical process did not encounter any major difficulties and all the organs of the separated girls were functioning well,'.. ..The King Abdul Aziz Medical City of Riyadh has successfully separated conjoined twins of various nationalities brought to the Kingdom from all over the world. The average cost for each surgical separation is estimated at Saudi Riyal 3 million.." [more]

Jeddah to Host Saudi Arabia’s First International Boat Show [Jun 21]
"Jeddah is hosting the first ever Saudi International Boat Show to be held from Oct. 14-17, 2009 at the Al Furusya Marine and Yacht Club located in the grounds of the new Park Hyatt. The impressive Al Furusya Marine & Yacht Club is located in the Al Hamra district in the heart of Jeddah, minutes away from Jeddah Port and commanding spectacular views across the Red Sea and King Fahd’s fountain. Organized by Dubai World Trade Centre and endorsed by the Saudi Commission for Tourism and Antiquities, the inaugural event will showcase the world’s leading names participating in the Kingdom’s largest display of boats, the latest marine and diving equipment, tourism, supplies and services.." [more]

VP in Arrives in Saudi Arabia [Jun 21]
"Vice President Abdu Rabo Mansour Hadi arrived on Sunday in King Abdul Aziz Airport in Jeddah city of Kingdom of Saudi Arabia. Saudi Arabia is the second leg, after Oman, of Gulf tour including Gulf Cooperation Council's states, during which Hadi conveys letters from President Ali Abdullah Saleh to the leaders of GCC states. The letters deal with bilateral relations between Yemen and GCC's states in addition to the current developments at the territorial, Arab and international levels.." [more]

Saudi Arabia's Debt Declines to 13.5% in 2008 [Jun 21]
"A sharp rise in oil revenue boosted Saudi Arabia's budget surplus to a record high level in 2008 and depressed its public debt to only 13.5 per cent at the end of the year, the Gulf Kingdom's Economy and Planning Minister said yesterday. The increase in the country's oil exports to their highest ever level also sharply expanded the nominal gross domestic product and catapulted the country into the list of the world's largest 19 economies, said Khaled Al Qusaibi. 'On this occasion, we should mention the great achievements made by the Kingdom in the economy and other fields,' he said in local press comments to mark the anniversary of the accession to throne by the Custodian of the two Holy Mosques King Abdullah bin Abdulaziz of Saudi Arabia.." [more]

Jun 14-Jun 20, 2009

~~~~~~~~ [ Jun 20]~~~~~~~~~

Saudi May Inflation Speeds Up for First Time in 2009 [Jun 20]
" Inflation in Saudi Arabia, the Arab world’s largest economy, sped up for the first time this year on higher global oil prices and housing shortages in the kingdom. The inflation rate rose to 5.5 percent in May from a 19- month low of 5.2 percent a month earlier, the country’s statistics office said on its Web site today. The decline in Saudi inflation may be slowing with oil prices climbing 56 percent this year, and the dollar, to which Saudi Arabia’s riyal is pegged, weakening against other major currencies. The world’s largest oil supplier also has a shortage of about 2 million homes as the population is set to rise, CB Richard Ellis Group Inc. said earlier this month. 'We are seeing a leveling off of inflation on the way down,' John Sfakianakis, chief economist at the Saudi British Bank, said by phone from Riyadh today. 'The decline in global commodity prices has ended. We are also seeing a continuation of pressure on rental and food prices.'.." [more]

Saudi Health Ministry's Plan to Combat Swine Flu in Offing [Jun 20]
"As part of the ongoing urgent measures to combat swine flu, Saudi Arabia's Ministry of Health is set to present a comprehensive precautionary plan to the Royal Court for final approval. The ministry has also constituted an extensive scientific committee to take up urgent steps within the coming fortnight. This was disclosed by Dr. Khaled Al Zahrani, assistant undersecretary for preventive medicine at the ministry. Speaking to Gulf News, Dr. Khaled said that the minister of health had issued directive to constitute a committee to explore ways to prevent a possible outbreak of swine flu among millions of Haj and Umrah pilgrims this year as four new cases were detected in the holy cities of Makkah and Madinah this week.." [more]

Saudi Editor Sacked After Writer Angers Interior Minister [Jun 20]
"The editor of leading Saudi newspaper Al-Watan has been fired after a columnist angered the interior minister in an exchange over the country's religious police, journalists said on Saturday. Jamal Khashoggi, one of the country's most prominent journalists, was sacked from his position late Friday, Al-Watan writer Khalid al-Ghannami confirmed. The firing came after a columnist for the newspaper upset powerful Interior Minister Prince Nayef bin Abdul Aziz on Tuesday by questioning the power of the country's religious police, the Committee for the Promotion of Virtue and Prevention of Vice. It was the second time that Khashoggi has been fired from the job. In 2003 he was forced out for a lengthy period after the paper ran an article critical of an ancient cleric important to Wahhabism, the ultra-conservative school of Islam dominant in Saudi Arabia.." [more]

Saudis See Hope in Fannie Mae Model [Jun 20]
"The announcement that Saudi Arabia is planning to set up a Fannie Mae-style company, operating like the Federal National Mortgage Association in the US, to buy mortgages from financial institutions, has set the kingdom buzzing with the belief that at last the Saudi property sector will take off. Given the considerable potential of the Saudi housing market, this should also be attractive news to Gulf investors seeking to diversify into property in Saudi Arabia. The proposed company will in effect become the primary purchaser of eligible home loans from institutional issuers. It will have the mandate to securitise these loans into mortgage-backed securities, sell them to investors through Islamic sukuks and create a liquid secondary market.." [more]

Oil Eases Investors Past Saudi’s Regulatory Risks [Jun 20]
"The Kingdom’s muddy investment rules are failing to deter foreign inflows, as Saudi’s oil-cushioned economy and state spending offers traders a safe haven from the global turmoil. Foreign investors are set to stay bullish on Saudi Arabia despite the opaque nature of the Kingdom’s markets, as opportunities from a buoyant crude price and infrastructure spending outweigh regulatory risk. But analysts say the case of unlisted Saad Group, which credit agencies stopped covering due to a lack of information, underline the need for stricter regulation and transparency from the world’s largest oil exporter.. ..Saudi Arabia, which controls more than a fifth of global crude reserves, has pledged to spend $400bn to improve its infrastructure and diversify its economy, hit by global chaos to a much lesser extent than other Gulf states.." [more]

Gulf Dinar To Replace Four Local Currencies [Jun 20]
"Four Gulf oil producers planning monetary union are expected to name a new common currency the Gulf dinar, a Saudi academic said on Thursday. And the new currency will run in tandem with national coins and notes now in circulation to ease the transition, he said. Wadei Ahmed Kably, economics professor at the King Abdul Aziz University in Jeddah, said he expected the Gulf dinar to be issued by the Gulf Central Bank and set at SR10, nearly $2.66. 'Based on the European Union experience, I expect the new currency to be circulated along with the existing national currencies in the Gulf Cooperation Council,' he told the Saudi Arabic language daily Al Watan. 'Both currencies will remain in circulation by banks and individuals for one or two years so the public get used to the new currency. National currencies could then be gradually withdrawn within five years so the public will not feel any difference,'.." [more]

SR2 Billion Saudi-British Company Approved [Jun 20]
"The Saudi British Business Council (SBBC) approved Friday the establishment of the Saudi British Investment Company, an idea first formulated at the second Saudi British Conference in 2006 in Riyadh, with capital of SR2 billion. Khaled Al-Saif, Chairman of the SBBC, said the company would be up and running in the last quarter of 2009, and that the SBBC would meet in Riyadh in November of this year to discuss the details of the company and its work strategy. 'Both sides were keen to set up the company despite the global economic crisis,' Al-Saif said.. ..'The council agreed on an agenda to be submitted to the next Two Kingdoms’ Dialogue meeting next year in London, which includes tax systems pertinent to businessmen and the protection of the joint investment protection accord signed by the two countries,' Al-Saif added.." [more]

Israeli Flights: Riyadh Denies Media Reports [Jun 20]
"Saudi Arabia yesterday denied media reports that it intends to allow Israeli military planes to fly over its airspace. “These reports are totally false and baseless,” an official source at the Ministry of Defense and Aviation said. The source also denied reports that Saudi military officials had met with their Israeli counterparts to discuss the issue. 'The source expressed surprise over such false media reports,' the Saudi Press Agency said. 'No Saudi official has met with any Israeli official. There was no such meeting to discuss this matter in any form,' the SPA said quoting the Ministry of Defense and Aviation source as saying. 'Saudi Arabia has not held any meetings with anybody in this respect. Saudi policies are very clear and transparent,'.." [more]

US Students on Goodwill Visit [Jun 20]
"A group of US students arrived here to begin a 16-day goodwill mission to the Kingdom. During the visit, the youths will visit schools, places of cultural interest and visit media organizations to get to know the social and cultural environment in the Kingdom. On their arrival, the delegates were met by Prince Khalid ibn Bandar ibn Sultan who warmly welcomed them to the Kingdom. 'They have arrived here as our honored guests and we hope they will leave as our good friends,'.. ..The students, members of the Institute for Civic Leadership (ICL), will engage with the Saudi media and share their experience in the Kingdom. 'This has provided us a good opportunity to learn Saudi traditions and culture, which would help build stronger relations with the people of the two countries,' said Daren Khairule, leader of the visiting delegation.." [more]

~~~~~~~~ [ Jun 19]~~~~~~~~~

Four Years in Service of Nation [Jun 19]
"Citizens yesterday renewed their allegiance and support to Custodian of the Two Holy Mosques King Abdullah, Crown Prince Sultan and Second Deputy Premier and Interior Minister Prince Naif on the eve of the fourth anniversary of the pledge of allegiance to King Abdullah on his assumption of power. 'The Kingdom’s achievements in various fields since King Abdullah’s coming to power is a matter that every citizen should be proud of,' Riyadh Gov. Prince Salman said. Prince Salman added that King Abdullah has been striving to complete the march of progress in the country started by King Abdul Aziz and continued by King Saud, King Faisal, King Khaled and King Fahd.." [more]

Swine Flu No Obstacle to Haj, says Al-Obaikan [Jun 19]
"Sheikh Abdul-Mohsen Al-Obaikan, senior Saudi cleric and a member of the Shoura (Consultative) Council has voiced his opposition Thursday to any travel bans for the annual Muslim Haj pilgrimage because of the scare over the swine flu pandemic. Sheikh Al-Obaikan was quoted by Okaz daily as saying that Islam does not condone travel bans. “It is not proper to ban people from the Haj,” said Al-Obaikan. He also said travel to and from countries with reported cases of swine flu should not be impeded. While no official in the Middle East has proposed banning Muslims from traveling for the Haj, Al-Obaikan’s remarks appear to be a reaction to a recent stark warning from Egypt.." [more]

H1N1 Outbreak Feared Among Makkah Pilgrims [Jun 19]
"There are growing fears that a swine flu outbreak could sweep through Makkah as Umrah and the Haj bring millions of pilgrims from around the world. Egypt's health minister Hatem Al Jabali has warned that pilgrims returning from Saudi Arabia could face quarantine. Saudi Arabia is gearing up for a possible outbreak among pilgrims after the first case was detected in a Malaysian boy in Makkah, health ministry spokesman Khaled Marghlani said. The Saudis are working with World Health Organisation experts to finalise a plan to deal with the threat.."  [more]

US Govt Unfairly Targets Muslim Charities: ACLU [Jun 19]
"Harsh measures meant to combat terrorist financing are violating Muslim charities' rights by discouraging Muslims from the charitable giving of zakah, the American Civil Liberties Union said in a report this week. An expansion of laws and policies since 2001 has given the US Treasury Department virtually unchecked authority to designate charities as terrorist organizations and freeze assets without adequate safeguards to protect against mistakes or abuse, the study concluded. But Federal prosecutors say some of these charities have served as fronts for terror-financing operations.. ..The report is based on interviews with more than 100 Muslim community leaders as well as experts on antiterrorism laws and regulations. Though it gives no estimate of the decline in donations to Muslim groups, it says a total of nine Islamic charities have closed as a result of government action against them since the Sept. 11 attacks.." [more]

Buckingham Palace Hosts Workshop on Saudi Investment [Jun 19]
"In the presence of Prince Mohammed Bin Nawaf Bin Abdul Aziz, Saudi Ambassador to the United Kingdom and Ireland, Prince Abdulaziz Bin Ahmed Bin Abdul Aziz, chairman of the board of directors of Atheeb Telecom Group and Prince Andrew, the Duke of York who is also Britain’s special representative for international trade and development, Buckingham Palace hosted here on Wednesday, a high-level Saudi-British meeting in which the prospects of British investment opportunities in the Kingdom of Saudi Arabia were discussed. Speaking on the occasion, Prince Mohammed stressed that the meeting reflected the commitment of the two countries to move forward in cooperation and partnership in all fields.." [more]

Peak Oil Pundits Need to Review Their Calculations After BP Report [Jun 19]
"BP is definitely not OPEC. Its pronouncements carry weight, coming from a global industry major and not the producers. The energy fraternity keenly awaits its annual 'Statistical Review of World Energy.' There is not much skepticism associated with it, as unfortunately is the case with some major OPEC intellectual initiatives. The recently presented review that highlights the currents trends in the industry is an interesting document. The review seconds a number of major issues afflicting the industry that are often raised by OPEC. The just released review also underlines what OPEC has been insisting for years now. 'Our data confirm that the world has enough proven reserves of oil, natural gas and coal to meet the world’s needs for decades to come,' says the review. This was indeed music to ears, especially since coming from a Western oil major.." [more]

Saudi Investors Pledge $10m to Canadian Oil Firm CORRE [Jun 19]
"Canadian Oil Recovery and Remediation Enterprises Ltd. (CORRE), a provider of leading edge oil recovery and remediation technologies and services, has entered into binding memoranda of agreement in connection with a two-phase financing for aggregate gross proceeds of up to $10 million. The principal subscriber for $8.5 million of the Financing is Al-Najah Advanced Technology Co. Ltd. (NAT), a wholly-owned subsidiary of Saudi Binladin Group (SBG). The remaining balance of the financing (an aggregate of $1.5 million) is committed by Hassan Dahlawi, an existing director of the company based in Jeddah. The proceeds of the financing will be used to fund the purchasing and fabrication of plant and ancillary equipment as required in support of CORRE’s anticipated project pipeline.." [more]

Saudi Aramco, Total Award Jubail Refinery Contracts [Jun 19]
"Saudi Aramco and France’s Total said yesterday that they would invest SR36 billion to build the Jubail oil refinery. 'The refinery is now expected to be fully operational by the second half of 2013,' said Khalid Al-Falih, chief executive of Saudi Aramco, in a statement. 'Today we are marking a major milestone in our partnership with Total, which has been strong historically but is now stronger than ever.' The two companies have set up the joint venture Saudi Aramco Total Refining and Petrochemical Company” (SATORP) to build and operate the refinery. SATORP has finalized the awarding plan for engineering, procurement and construction contracts that constitute the 13 different process packages of their Jubail joint venture refinery, following a meeting of the SATORP board of directors.." [more]

~~~~~~~~ [ Jun 18]~~~~~~~~~

What to Watch in Saudi Credit Crisis [Jun 18]
"Saudi Arabia is facing a mounting bank lending crisis, with domestic lending stalled in part over concerns that troubles at two key conglomerates will spread and with confidence faltering. The Saudi Arabia Monetary Agency (SAMA) is expected to further cut interest rates or reserve requirements to kickstart lending, but analysts worry that may not be enough to restore bank confidence. On Tuesday, it sought to boost lending by halving the rate it pays to commercial banks when they deposit money with the central bank by lowering its reverse repo rate from 50 basis points to 25.. ..Below are some of the key points to watch identified by Reuters correspondents in the region.." [more]

Palestinian President to Visit Syria, Saudi Arabia This Week [Jun 18]
"Palestinian President Mahmoud Abbas is to start a regional tour of Syria and Saudi Arabia this week, his spokesman said Thursday. 'Abbas will meet during the coming two days with Syrian President Bashar al-Assad in Damascus before heading for Saudi Arabia to meet Saudi king Abdullah bin Abdulaziz,' Abbas' spokesman Nabil Abu Rdineh told Xinhua. Abbas' visit aims at discussing the long-stalled Israeli-Palestinian peace process and internal Palestinian feud which involves Abbas' Fatah party and Islamic Hamas movement, according to the spokesman. 'Abbas will brief the Arab leaders on the results of his talks with U.S. President Barack Obama to crystallize a united Arab position facing the conditions Israeli prime minister set for peace,'.." [more]

Yemen Hails Surrender of Saudi Qaeda Suspect [Jun 18]
" A Saudi wanted by the Yemeni authorities on suspicion of plotting attacks for Al-Qaeda has turned himself in, a security official said on Thursday. Naif Dahis Yahia al-Harbi is suspected of 'belonging to a cell that was planning attacks in Yemen,' the official said, asking not to be identified. The news follows the announcement by the defence ministry website on Sunday of the capture of Al-Qaeda's main financier in the Arabian peninsula.. ..Saudi Arabia and Yemen have exchanged dozens of suspected militants in recent years under the terms of a 2003 security pact that strengthened an extradition treaty first signed in 1998.." [more]

Pakistan Urges Saudi Arabia to Stop Trial of Pilgrim Family [Jun 18]
"Pakistan has decided to formally request the Saudi government to postpone the trial of a Pakistani couple allegedly arrested in a drug smuggling case. Talking to the media after a cabinet meeting on Wednesday, Information Minister Qamar Zaman Kaira said the Pakistani mission in Riyadh was in touch with the Saudi authorities to ensure that no innocent person was punished. He said the Saudi ambassador had assured Prime Minster Yousuf Raza Gilani during a meeting that he would talk to the authorities concerned in this regard. ‘The government understands through preliminary reports that the couple is innocent and those who sent them to Saudi Arabia for Umra are the real culprits and, therefore, the cabinet has decided to approach the Saudi government so that no innocent person is punished,’.." [more]

Saudi Arabia to Permit Private Radio Operators [Jun 18]
"The Ministry of Information and Culture in Saudi Arabia will for the first time give permit for private radio operators in the Kingdom. This is according to a ministerial source. The ministerial source said that the decision has been arrived after years of deliberation on this issue. He said that the Ministry has already started receiving an increasing number of applications from private radio operators.." [more]

KSA Reiterates Call to Make M-E Region Free of Nuclear Weapons [Jun 18]
"The Kingdom of Saudi Arabia on Wednesday reiterated its call to make the Middle East region free from nuclear weapons, and said security and stability don’t come through acquisition of weapons of mass destruction but through cooperation and consultation among the countries as well as through realizing development and progress. These remarks were made by adviser at the Saudi embassy in The Hague Naif Bin Bandar Al-Sudeiry while addressing the fifth meeting for the international initiative for fighting nuclear terrorism. He pointed out that acquisition of nuclear weapons by Israel constitutes a basic obstacle for bringing about security and stability to the region.." [more]

Saudization is Not Racist, Says Official [Jun 18]
"Deputy Labor Minister Abdul Wahid Humaid has refuted accusations that Saudization of jobs is a racist program. 'It’s our legitimate right to create employment for our citizens. Countries in the East and West give priority to their citizens in employment,' he said. Humaid said the Saudization program was essential for creating jobs for the country’s unemployed citizens. He said the Kingdom would continue to depend on foreign workers to do many jobs. 'Recruitment of foreigners to work in the private sector and for Saudi individuals will continue,' he added. At present there are nearly seven million foreign workers in the Kingdom. The Labor Ministry intends to Saudize more jobs.." [more]

Saudi Weighs Eurofighter, F-15 For New Fighter Deal [Jun 18]
"Saudi Arabia is stepping up efforts to acquire advanced fighter jets to renew its combat fleet amid growing security concerns in the Gulf region over Iran, two sources following the matter said on Thursday. Saudi Arabia is in talks with Britain over possibly doubling a recent purchase of 72 Eurofighter Typhoons with an add-on purchase buttressed by a support deal, and has held exploratory talks with Boeing on adding more F-15s, the sources said. 'Saudi Arabia has not finalised its requirements or decided if it will hold a competition or go with one player,' said a source who has followed the discussions.  British BAE Systems, which coordinates production of Eurofighter Typhoons recently sold to Saudi Arabia, and F-15 manufacturer Boeing both declined to comment.." [more]

~~~~~~~~ [ Jun 17]~~~~~~~~~

Sinopec Drills 7th Saudi Gas Well After Others Disappoint [Jun 17]
"China's Sinopec Group is sinking a seventh exploration well in Saudi Arabia to hunt for natural gas, after the previous six found no flows of commercial value, partly due to low gas prices, a company executive told Reuters. China's second-largest energy group will complete drilling of the last well by about October, but with costs far exceeding an original projection of $300 million, the executive said. Under a pact sealed in early 2004 with state-run Saudi Aramco, Sinopec agreed to drill seven wells over a contract period of 10 years. 'We are drilling the last well now'.. ..The official did not specify the agreed gas price. 'All the foreign firms accepted that price. But you need to strike a high-yield discovery to make it economically viable,'.." [more]

Key Saudi Prince Gives Backing to Religious Police [Jun 17]
"Saudi Arabia's interior minister signalled his backing for the kingdom's controversial morality police this week, saying they were on a par with the security forces. The Commission for the Promotion of Virtue and Prevention of Vice -- a key arm of the powerful religious establishment -- has been under pressure after incidents where Saudis died in their custody or in car accidents as the police pursued them.. ..With over 5,000 members, the men have wide powers to patrol public places to ensure unrelated men and women do not mix, uncover use of alcohol and drugs, and urge men to perform Muslim prayers in mosques. The body answers to King Abdullah but his half-brother Prince Nayef also has sway over it. Prince Nayef was appointed second deputy prime minister in March, a post that could strengthen his chances of becoming crown prince one day. Crown Prince Sultan is convalescing in Morocco after an operation this year in the United States.." [more]

Oil Giant Saudi Arabia Struggles to Keep Power On [Jun 17]
"Energy superpower Saudi Arabia, the world's largest oil exporter, is having trouble keeping the lights on, the Saudi Gazette reports. Every afternoon from 1 to 4 o'clock, the Saudi Electricity Company (SEC) is cutting power to factories and businesses around Jeddah, the desert kingdom's second-largest city and its major port. As summer electricity demands increase — much of it from air conditioning in malls, office buildings and mansions — the "load shedding" is needed "to avoid a massive power cut to the city" of 3.6 million people, the Gazette writes. Factory owners say the deliberate blackouts are causing financial losses, damaging equipment and threatening jobs.." [more]

Hai’a Won’t Use Spy Cameras in Malls [Jun 17]
" The Commission for Promotion of Virtue and Prevention of Vice (Hai’a) has no plans to install surveillance cameras in shopping malls, Sheikh Abdul Aziz Al-Humayyen, General President of the Hai’a, has stated. 'The Hai’a will never take such a move nor have any connection with surveillance cameras inside or outside malls,' Al-Humayyen was quoted as saying by Al-Hayat Arabic daily Monday. Al-Humayyen refuted the news which has been widely published by the media producing strong reactions of both support and opposition, and said that suggestions that the Hai’a would exploit cameras in shopping malls and public areas to expose and intrude on people’s privacy were 'false and baseless.'.. ..Al-Humayyen said the Hai’a’s long history of public work and staff competency would not allow it to resort to 'such methods which breach public privacy' and that the Hai’a would 'not relinquish its reform policy, based on correcting mistakes, without publicizing them.'.." [more]

DOW, KAUST Enter Into Strategic Relationship [Jun 17]
"The Dow Chemical Company, a world leader in science and technology, yesterday announced its intention to enter into a multimillion-dollar strategic relationship with King Abdullah University of Science and Technology (KAUST). The framework will initially aim to use catalyses as a means to develop new routes for producing chemical derivatives. Dow also announced its intention to explore developmental efforts at the KAUST Research Park and Innovations Cluster. Areas being considered for the park include CO2 capture, enhanced oil recovery, water desalination, solar energy and wind energy. In addition, Dow has affirmed its commitment to becoming a founding member of KAUST’s Industrial Collaboration Program (KICP), which aims to enrich the local research experience while promoting economic development in Saudi Arabia.." [more]

~~~~~~~~ [ Jun 16]~~~~~~~~~

Saudi Arabia Bank Cuts Reverse Repo Rate to 0.25% [Jun 16]
"The Saudi Arabian central bank cut its key reverse repurchase rate by a quarter point to 0.25 percent as it seeks to revive lending. 'This measure has been taken to normalize domestic money market conditions against the backdrop of stable macroeconomic activity,' the Saudi Arabian Monetary Agency said in an e- mailed statement today. The rate is effective immediately. It’s the third time this year that the central bank has cut the reverse repo rate, taking it to the lowest level since Bloomberg data began in September 2007. The step may encourage banks to lend money instead of keeping it with the central bank, said Marios Maratheftis, chief regional economist at Standard Chartered Plc. 'Credit growth has been weak, effectively banks were reluctant to lend,' Maratheftis said. 'With the rate cut, it is now less attractive for banks to place funds with SAMA, encouraging banks to increase lending.'.." [more]

Saudi Shuffles Opec Team [Jun 16]
"Saudi Arabia has shuffled its team at the Organization of Petroleum Exporting Countries appointing Ahmad Al-ghamdi as its representative to the oil cartel to replace Yasser Mufti, an oil official told Zawya Dow Jones. Al-ghamdi moves from his previous position as an advisor to the Saudi oil minister Ali Naimi, according to the official who declined to be identified.  A spokesman for the Saudi oil ministry was unreachable for comment. Saudi Arabia, is the Middle East's largest oil producer, and most powerful member of the 13-member producing group of nations.." [more]

Saudis and UAE Reach Agreement on Ending Truck Crisis [Jun 16]
"The truck crisis has ended with the UAE and Saudi Arabia reaching an agreement to ease queues at the border points of Al Ghuwaifat and Al Bat'ha. The agreement followed a meeting in Riyadh yesterday at the Saudi Customs Authority between a UAE delegation headed by Mohammad Khalifa Bin Fahd Al Muhairi, Director General of the Federal Customs Authority, and a delegation representing the Saudi Customs Authority and Interior Ministry. The Saudi authorities undertook to end the crisis resulting from implementing new customs and security procedures at the Al Bat'ha checkpoint and restore the situation to what it was two weeks ago before the crisis erupted.." [more]

Cabinet Approves MoU With UK on Fingerprinting [Jun 16]
"The Cabinet has approved a proposal to sign a memorandum of understanding (MoU) with Britain on the modalities of new laws on fingerprinting and face photos for those applying for a visa to visit Britain. The Cabinet which met here Monday and was presided over by King Abdullah, Custodian of the Two Holy Mosques, gave its approval for the MoU after recommendations from Prince Naif Bin Abdul Aziz, Second Deputy Prime Minister and the Minister of Interior. Dr. Abdul Aziz Khoja, Minister of Culture and Information, said after the meeting that the Monarch briefed the Cabinet on the outcome of his talks, consultations and contacts made in the past few days with the leaders of some countries, their envoys and the telephone call he received from Syrian President Bashar Al-Assad.." [more]

Prince Khaled Opens Jeddah Trade Forum [Jun 16]
"Makkah Gov. Prince Khaled Al-Faisal opened the first Jeddah trade forum at Lailaty Hall here yesterday and urged participants to make proposals to remove the obstacles facing businessmen and women and boost the Kingdom's trade sector. He stressed the need to revise the Kingdom's trade regulations in accordance with those of the World Trade Organization (WTO). He also extended all-out support to businesswomen and said: 'They have made tremendous progress in business and we are proud of them.' Prince Khaled said the Kingdom's annual exports and imports have crossed SR1 trillion and hoped the forum would contribute to further increasing the Kingdom's trade volume. 'We hope that these kinds of forums would help increase the country's gross domestic product,'.." [more]

Dubai's Emaar Says Saudi Deal Still Conditional [Jun 16]
"Dubai developer Emaar Properties EMAR.DU said on Tuesday a deal signed with Saudi Arabia's Kingdom Holding 4280.SE was still conditional and would focus solely on managing the development process. In a statment on the Dubai bourse website, Emaar said it was too early to envisage the level of income from the project as it was still in feasibility study stage. Emaar on Sunday denied it was investing in a development by Saudi Arabia's Kingdom Holding that will feature what would be the world's tallest tower, but said it was in a deal to offer management services against a fee. The United Arab Emirates' bourse regulator had asked Emaar on Monday to give detailed clarification. 'The agreement currently signed by Emaar is conditional upon a number of other additional agreements to be finalised btween Emaar and the company,' Emaar said.." [more]

Israel: Lieberman Wants Talks With Saudi Arabia, Syria and the PA [Jun 16]
" Israel's hardline foreign minister Avigdor Lieberman on Tuesday called for direct talks with Saudi Arabia, Syria and the Palestinian Authority government without any preconditions, while maintaining support for the 'natural growth' of existing settlements. 'There is understanding in the US and in Europe with regards to the basic need to continue natural growth,' Lieberman told Israel Radio during an official visit to Luxembourg where he met his counterparts from the European Union.  'We have no intention of changing the demographic balance in the West Bank and establishing facts on the ground.'  Although EU foreign ministers reacted positively to the speech that Israeli prime minister Benjamin Netanyahu delivered on Sunday, some said it was not enough to raise the level of talks, postponing the upgrading of ties with the Jewish state.." [more]

~~~~~~~~ [ Jun 15]~~~~~~~~~

Suspected Financier For Al-Qaeda Arrested [Jun 15]
"Yemeni security forces have arrested a Saudi man suspected of financing al-Qaeda cells in Yemen and Saudi Arabia, an Interior Ministry official said Sunday. The official said authorities had captured the network's 'biggest and the most influential' money provider in the two countries. The Yemeni Embassy in Washington said the arrest of Hassan Hussein Bin Alwanin on Friday 'will be instrumental in understanding the system of global terrorism financing.'.." [more]

Gulf Arabs Give Muted Reaction to Ahmadinejad Win [Jun 15]
"Gulf Arab governments fearing growing Iranian power in the region gave a muted reaction to hardline president Mahmoud Ahmadinejad's election win this week. Semi-official media in Saudi Arabia, an absolute monarchy with no elected parliament, attacked the results as undemocratic. 'Falsifying the results is the easiest of tasks for a religious-security regime that does not believe in leaving to chance what it considers to be its right,' wrote Abdul-Rahman al-Rashed in Saudi daily Asharq al-Awsat. Saudi-owned Al Arabiya TV, which has had extensive coverage, said Iran had closed its office for a week without reason.. ..Tehran denies Western charges, backed by Arab states led by Saudi Arabia, of seeking to develop nuclear weapons.  Saudi Arabia sees itself as the leader of Sunni Islam and fears Washington will recognize Iran as a regional power in an eventual rapprochement.." [more]

Saudi's PetroRabigh to Start Making Gasoline in July [Jun 15]
"Saudi Arabia will start gasoline production at its $10.3 billion Rabigh Refining and Petrochemical Co in July, industry sources said on Monday. PetroRabigh, an export-oriented joint venture between state oil giant Saudi Aramco and Japan's Sumitomo Chemical, will have the capacity to produce up to 60,000 barrels per day (bpd) of high octane gasoline that will be converted from fuel oil. 'We have been informed by PetroRabigh that gasoline production will start in July,' a Gulf-based source familiar with the project said.. .The world's top oil exporter typically imports between 60,000 to 70,000 bpd monthly, traders said.  'Most of the gasoline coming out of Rabigh is going to be for the domestic market, so we are definitely keeping an eye on this to see if Saudi cuts back on their imports,'.." [more]

Saudi Arabia Suspends Visas for Yemeni Laborers [Jun 15]
"Saudi Arabia has suspended visa processing and other travel measures for Yemeni laborers. The move comes in protest at the slowness of the Yemeni government in taking appropriate measures concerning the smuggling of a Saudi girl by a Yemeni young man into his country, sources at the Saudi embassy in Sana'a said. www.newsyemen.net cited the sources as saying that a parliamentarian in Yemen's western province of Hodeida is part in the matter, a claim which the Yemeni official Ziyad Ali Sagheer Shami denies. Shami said a Yemeni young man from Zabeed, who said he married to a 21-year-old Saudi girl, visited him three weeks ago and asked for help. But Shami did not say what kind of help the young was asking for. 'I told him to go to the Saudi embassy and discuss the matter there,' .." [more]

Emaar Denies Kingdom Holding Deal to Develop World's Tallest Tower [Jun 15]
"Emaar Properties on Monday issued a denial that it had made any deal with Saudi Arabia's Kingdom Holding Company on developing the world's tallest tower with a total investment of at least 100 billion riyals ($26.7 billion). Kingdom Holding, owned by billionaire Prince Alwaleed bin Talal, said on Saturday in an emailed statement that Emaar would be in charge of developing and supervising the construction of the Kingdom Tower. The news saw a surge in Emaar’s shares rise up to to 7.8 per cent. In a statement issued to Reuters, the Dubai based properties said that it will not invest in any projects of this sort.." [more]

~~~~~~~~ [ Jun 14]~~~~~~~~~

Yemen Denies Guantanamo Inmates Heading to Saudi [Jun 14]
"Yemen on Sunday denied reports that it has agreed to a U.S. proposal to transfer almost 100 Yemeni inmates at Guantanamo Bay prison to terrorist rehabilitation centers in Saudi Arabia. The statement comes days after U.S. officials said they were close to a deal with the two countries. The Yemenis make up the largest national group among the remaining Guantanamo detainees, and determining their fate is key to President Barack Obama's plan to close the prison. Yemen's Foreign Ministry said the country was still discussing with the U.S. the possibility of transferring the detainees back home. It issued a statement saying the country 'denies media reports about the transfer of Yemeni detainees from the prison at Guantanamo to rehabilitation centers in Saudi Arabia.'.." [more]

CMA Launches Bond and Securities Market [Jun 14]
"The Capital Market Authority (CMA) yesterday launched the bond and securities market as leading stocks including banks, financial services, industries and petrochemicals reacted positively to the move by the regulator’s move. The new market yesterday witnessed two major deals worth more than SR1.1 billion ($269 million) with the first deal involving sukuk (Islamic bond) of SABIC as 20,000 sukuks were sold for SR202 million at the rate of SR10,100 per sukuk. The second deal involved sales of 80,000 sukuk for SR808 million at the same price. SABIC’s second issue of sukuk are valued at SR8 billion ($2.1 billion). It involves 800,000 sukuks with a face value of SR10,000 each and matures in 2027.." [more]

Saudis Alleviate Border Jam [Jun 14]
"Saudi Arabia opened its border for a few hours on Sunday in an attempt to ease the 19-mile-long traffic jam leading to its frontier with the United Arab Emirates (UAE). Thousands of truck drivers have been stuck in the jam for days without access to basic necessities in temperatures reaching 133 degrees Fahrenheit. Since traffic usually flows smoothly at the crossing, many drivers did not prepare for a lengthy stay. Much of the produce being transported has gone bad.. ..Some local newspapers are reporting that this action by the Saudis is retaliation to get back at the UAE for dropping out of plans for a common currency for the six countries (Saudi Arabia, Kuwait, UAE, Qatar, Bahrain and Oman) that make up the Gulf Cooperation Council (GCC).." [more]

Jun 7-Jun 13, 2009

~~~~~~~~ [ Jun 13]~~~~~~~~~

Guantanamo Prisoner on Hunger Strike Returns to Saudi [Jun 13]
"A Guantanamo prisoner who had been on continual hunger strike for almost four years has been released. The US Justice Department says Ahmed Zuhair and two other detainees have been sent home to Saudi Arabia, where they will be subject to judicial review before entering a government-run 'rehabilitation' programme.. ..US authorities allege Zuhair trained with the Taliban and Al Qaida in Afghanistan and belonged to a fighting group in Bosnia in the mid-1990s - allegations denied by his lawyer.." [more]

New Bonds Market to be Launched Today [Jun 13]
"The Saudi Tadawul Stock Exchange is launching Saturday the Sukuk and Bonds Market following the completion of preparations conducted with brokerage firms and information providers. Tadawul Director of Monetary Trading Waleed Al-Bawaradi said that the issue of foreigners investing in the market was being studied, with non-Saudi nationals currently only permitted to invest via Saudi intermediaries. The trading of Sukuk and bonds will be conducted through stock market brokers to facilitate investor transactions and the diversification of investments.." [more]

Saudi Pledges to Ease Controls on Women: HRW [Jun 13]
" Saudi Arabia has pledged to take steps toward removing rules requiring a woman to have a male guardian at all times, saying there is no such legal requirement, a rights organisation said. Saudi rights officials committed in a review with the UN Human Rights Council to take steps to end the male guardianship rule, to give women full legal identity and to ban discrimination by gender, Human Rights Watch said in a statement from Geneva received on Saturday. HRW said that during the review, which took place in Geneva on June 10, Saudi officials said the Islamic sharia law concept of male guardianship does not exist in Saudi law.." [more]

Saudi Demand For Low Cost Homes To Spur RE Mkt Rebound [Jun 13]
"Affordable housing in Saudi Arabia is the next big untapped market for investors and developers as demand from the region's largest economy is expected to pickup, according to a study by real estate consultancy firm Jones Lang LaSalle.  Investor sentiment has improved recently, with more than 50% of those surveyed by Jones Lang LaSalle expecting the region's real estate market to recover soon. 'This positive sentiment is also reflected by Saudi Arabia being identified as the only market across MENA where more investors expect to see prices increase rather than decrease further over the next 12 months,' the report added. Unlike the property booms in other oil-rich Persian Gulf states like the United Arab Emirates and Qatar, the demand for housing in Saudi Arabia comes from the young and growing indigenous population seeking affordable homes rather than the luxurious villas and penthouses with sea-views that pepper Dubai's natural and artificial coasts. Saudi Arabia is expected to face a shortfall of 1 million housing units by 2012.." [more]

Aceh Receives $12.88m Projects in Quake Relief [Jun 13]
"Saudi Arabia has handed over post-tsunami and earthquake reconstruction projects worth $12.88 million to the government of Aceh, a special territory of Indonesia, where more than 226,000 people were killed following an Indian Ocean earthquake a few years back. The projects include two Saudi-funded orphanages and education centers in Aceh region. 'The Kingdom has disbursed many forms of assistance, both during the time of the crisis and also during the post-quake rehabilitation and reconstruction period,'.." [more]

World Oil Demand Settling Down: OPEC [Jun 13]
"The OPEC oil producers’ organization said the worst of the impact from the economic crisis was past for the oil markets, as it fractionally reduced its demand estimate for 2009 yesterday. 'In light of the considerable challenges the world economy and commodity markets, particularly the oil market, have undergone, the worst appears to be behind us,' the Organization of Petroleum Exporting Countries wrote in its latest monthly report. 'As the world economy stabilizes, the world oil demand appears to be settling down,' it said. 'Industrial production activities are steadying and in some parts of the world have even improved slightly. This should stop the bleeding in oil demand. There are no significant downward revisions to our previous oil demand forecasts.'.." [more]

Jeddah Commercial Forum on June 15 [Jun 13]
"The deputy president of the National Land Transport committee at the Saudi Chambers of Commerce and Industry Ali Saeed Bin Al-Bassami said that the Jeddah Commercial Forum will be inaugurated on June 15 under the patronage of Prince Khaled Al-Faisal.. ..The forum will attempt to resolve some of the commercial problems faced by businessmen along with a number of issues of vital interest to all the members of the Jeddah Chamber of Commerce and Industry (JCCI), he said.  'Minister of Trade and Industry, Abdullah Bin Ahmed Zainal Alireza, will provide an overview of the Saudi economy, highlighting those local companies which are the symbols of the Kingdom’s strong economic development in the face of the global financial crisis,'.." [more]

GCC, Philippines Launch Economic Cooperation [Jun 13]
"The GCC countries and the Philippines agreed to launch major economic cooperation that will set the pace for stronger long-term relations between the Philippines and the six regional states of Saudi Arabia, Bahrain, Kuwait, United Arab Emirates, Qatar and Oman. The areas of key cooperation between the Philippines and the GCC were decided upon last week following the visit of Abdulrahim Hasan Naqi, Secretary General of the Federation of GCC Chambers of Commerce and Industry, to Manila. Naqi was received by President Gloria Macapagal Arroyo in Malaca?ang Palace and held discussions with her on wide-ranging issues of economic cooperation.." [more]

~~~~~~~~ [ Jun 12]~~~~~~~~~

Saudi Arabia's Renewed Political Influence Counters Tehran [Jun 12]
"Saudi Arabia's traditional clout over Middle East politics appears to be on the rebound with the weekend election victory of its political allies in Lebanon, after years of frustration in Riyadh over Iran's regional ascendancy. Invigorated Saudi influence could be important to the Obama administration's emerging strategy on Middle East peace. The staunch U.S. ally is seen in Washington as perhaps the only regional powerhouse that can bring unruly Arab neighbors, in particular Syria, into line with the U.S. goal of a comprehensive Arab-Israeli peace deal. Both Riyadh and Washington believe that checking Iran's recently rising regional influence is a key element. Saudi officials could get another big boost if Iranian voters toss out hard-line conservative President Mahmoud Ahmadinejad.." [more]

Saudis Take Delivery of First Typhoon Jets [Jun 12]
"Saudi Arabia has taken delivery of the first two Eurofighter Typhoons out of a massive order for 72 of the British planes that first fell into doubt over an arms scandal, state news agency SPA said on Friday. Assistant Defence and Aviation Minister Prince Khaled bin Sultan received the two Typhoons at a ceremony with British officials at the facilities of BAE Systems, the aircraft's manufacturer, in Wharton, England on Thursday, it said. The two fighters were the first out of an order for an eventual 72 that has been valued at up to 20 billion pounds (32.9 billion dollars), including armaments and long-term servicing.  Saudi Arabia is the first country outside Europe to have the Typhoon, a multi-role aircraft produced by a BAE Systems-led consortium of European firms.." [more]

Korean Builders May Win Saudi Contract [Jun 12]
"Three Korean builders are likely to obtain a 3 trillion won ($2.4 billion) order from Saudi Arabia to build a refinery plant there, industry sources said yesterday. The companies - Daelim Industrial Co., SK Engineering and Construction Co. and Samsung Engineering Co. - have bid for the Jubail export refinery project, which was awarded by Saudi Aramco, a state-owned national oil company, and Total, a French oil company, they said. The plant to be built in Al Jubail will have a daily processing capacity of 400,000 barrels and cost $11 billion, the sources said.." [more]

Haj Ministry Heightens Swine Flu Watch [Jun 12]
"Undersecretary at the Ministry of Haj Ali Balkhayr has said his ministry is carefully watching outbreaks of infectious diseases, such as swine flu, in various parts of the world. The ministry is collaborating with the Ministry of Health to stop the entry of any pilgrim carrying dangerous infections, Balkhayr said. 'Umrah activities have never been disrupted by infectious diseases and none of the scheduled pilgrim trips have been canceled because of swine flu,' he added. According to Saad Al-Qurashi, head of the National Committee for Haj and Umrah, no case of swine flu has been detected among Umrah pilgrims since the virus originated in Mexico two months ago. 'No pilgrim carrying infectious diseases is allowed to enter the Kingdom because the Saudi missions abroad insist on strict health precautions while issuing Umrah visas,'.." [more]

Girls Need Athletics, Says Princess Adela [Jun 12]
"Princess Adela, daughter of Custodian of the Two Holy Mosques King Abdullah, has called for the introduction of physical education and athletic programs for girls at the Kingdom’s public schools as quickly as possible. 'It’s high time to look into the matter of introducing sports at girls schools seriously, following the teachings of Islam,' Al-Riyadh Arabic daily quoted the princess as saying. Princess Adela made this comment while opening a health program in the Faisaliyah district of Riyadh.
She said introduction of athletic programs was essential to control obesity and prevent related diseases among women. A study conducted by researchers at the College of Medicine in King Faisal University in Dammam showed that obesity is a common problem among intermediate and secondary school girls. The study focused on social and economic factors that cause obesity among students.." [more]

Saudi Cityscape Expo Opens June 14 [Jun 12]
"A three-day exhibition and conference for Saudi real estate development and investment entitled 'Cityscape' will open on June 14 under the patronage of Prince Mishal Bin Majed, the Governor of Jeddah, at the Jeddah Center for Forums and Events. Nearly 100 Saudi and Gulf exhibitors will showcase their products in an area of ten thousand square meters with the aim of achieving a breakthrough in new investment and the marketing of real estate. 'The Conference will feature a number of panel discussions on the long-term effects of environmental work in Saudi Arabia, in addition to the effects of the global financial crisis on real estate investment and development in the Kingdom,'.." [more]

Vietnam and Saudi Arabia See Great Potential From Each Other [Jun 12]
"President Nguyen Minh Triet and Minister of Petroleum and Mineral Resources Ali Ibrahim Al Naimi of Saudi Arabia both said bilateral co-operation should be based on each other’s strengths such as Vietnam’s agriculture and the Middle-East country’s energy. President Triet on June 11 welcomed the Saudi Arabian minister’s working visit, saying it was a spring-board for the two countries to usher in a new stage of bilateral ties. 'Ministries and industries from the two countries should increase the exchange of visits so as to work out concrete programmes of co-operation,'.. ..His view was shared by the Saudi Arabian Minister, who said his country was rich in energy and minerals while Vietnam had potential in labour forces and agriculture so the two countries could supplement each other through their co-operation.." [more]

Saudi Arabian Healthcare Market Forecast to 2012 [Jun 12]
"According to a new report, “Saudi Arabian Healthcare Market Forecast to 2012”, the Saudi Arabian healthcare market is witnessing rapid growth and will continue to expand exponentially in future. The country’s rapidly increasing population, due to which demand is outpacing supply, can be regarded as the main push for the market. And as the incidences of a number of lifestyle diseases, such as obesity, diabetes and hypertension, in the country amongst the highest in the world, these will significantly boost the healthcare spending in future. Government plays a central role in providing healthcare services in the kingdom, accounting for around 75% of the total healthcare spending in the country.." [more]

~~~~~~~~ [ Jun 11]~~~~~~~~~

Saudi, Gosaibi Impact on Gulf Widens [Jun 11]
"The impact of troubled Saudi groups Saad and Al Gosaibi widened on Thursday with the first bank detailing its exposure while Al Gosaibi said it had discovered evidence of "substantial financial irregularities." Bank Muscat BMAO.OM, Oman's largest lender, said on Thursday its exposures to both Saudi groups total $171.4 million through its Riyadh branch and said its Bahraini unit BMI Bank also has exposures of about $44 million. Little information has emerged since privately-owned Saad Group [SAADG.UL] and Ahmad Hamad Al-Gosaibi & Brothers Company both said they were restructuring debt, with parts of Saad group being downgraded to junk status by Moody's.." [more]

Detainee Deal With Saudis Close [Jun 11]
"The United States is nearing a deal that would send nearly 100 Yemeni detainees held at Guantanamo Bay to Saudi Arabia, according to a Wall Street Journal report Thursday. Officials told the Journal the deal could speed up President Obama's plan to close the U.S. military facility that houses alleged terrorists. Of the nearly 250 people held at Guantanamo, nearly half are from Yemen and are among the most difficult to transfer given their alleged ties to al Qaeda, the Journal reports. President Obama discussed such a deal with Yemen's president, Ali Abdullah Saleh, last month, officials told the Journal.." [more]

New Plan to Improve Vice Cops’ Image [Jun 11]
"Second Deputy Premier and Minister of Interior Prince Naif will launch a new strategic plan of the Commission for the Promotion of Virtue and Prevention of Vice at the Riyadh InterContinental on Tuesday. Abdul Aziz Al-Humain, president of the commission, said the strategy was aimed at improving the organization’s stature and services and enhancing the efficiency of its workers in order to make it a model for government departments. Al-Humain signed an agreement on Tuesday with Khaled Al-Sultan, president of King Fahd University of Petroleum and Minerals, for drafting the commission’s long-term strategy.. ..Al-Huwaimel added: “The goal is to achieve excellence in carrying out our noble mission after identifying the commission’s objectives.” He said the new strategy would overhaul the commission in order for it to perform its duties in a proper manner.." [more]

~~~~~~~~ [ Jun 10]~~~~~~~~~

Saudi Starts Pumping From Giant Khurais Oilfield [Jun 10]
"Saudi Arabia has started production from its giant Khurais oilfield, the largest ever single addition to global oil supplies, Saudi Aramco's top executive said in remarks broadcast on Wednesday.. ..'The oil from the plant is now being pumped into tanks that are at the project,' he said, adding that the field's capacity can now be seen as part of Saudi Arabia's total output capacity. The kingdom does not need to use the extra capacity at current demand levels, the head of the state oil company said. The 1.2 million barrels per day (bpd) Khurais field contains highly prized Arab Light crude, which is easily converted into transport fuel. Khurais would also produce 315 million cubic feet per day (cfd) of sour gas and 70,000 bpd of natural gas liquids (NGL) to be processed at Shedgum and Yanbu gas plants.." [more]

Saudi Boosts Number of Qaeda Judges [Jun 10]
"Saudi Arabia plans to increase the number of special security court judges handling the cases of alleged Al-Qaeda militants to speed up the process, a newspaper reported on Wednesday. Five judges will be added to the courts trying Al-Qaeda-linked suspects on charges of bombings and other attacks, bringing the total to 12, Al-Watan reported, citing a top judiciary official.  'We need to increase the number of judges,' Saleh bin Humaid, head of the Supreme Judiciary Council, told a press conference. 'The small number of judges is an obstacle to the speedy management of cases.' According to Saudi rights activists, the government began secret tribunals for nearly 1,000 suspected militants early this year, most of them believed linked to attacks across the country during 2003-2005.."  [more]

Palestinians Press Saudi Arabia to Cancel Alstom Tender Win [Jun 10]
"The French companies involved in the Jerusalem light rail project, among them Alstom and Veolia, are having to contend with heavy pressure from Arab countries because of their activity in Israel. Arab media report that senior figures in the Palestinian Authority have appealed to the Saudi Arabian authorities to cancel Alstom's win in a huge tender for the construction of the Haramain Express Railway, a high-speed rail link between the holy cities of Mecca and Medina. The reason is that Alstom is a 20% partner in the City Pass consortium which won the concession for the Jerusalem light railway.." [more]

Accords Signed With Chinese Universities [Jun 10]
"The presidents of nine Saudi universities yesterday signed 24 agreements with Chinese universities in the presence of Higher Education Minister Khaled Al-Anqari and his Chinese counterpart. King Saud University in Riyadh signed a research cooperation accord with the Chinese Academy of Sciences (CAS) for its Nano Technology Center. "The agreement with CAS will open new areas of cooperation with other centers of research in China," said Abdullah Al-Othman, president of King Saud University. He said the agreement would benefit more than 470 students in higher education departments. The signing of new educational agreements comes as a result of the summit talks between Custodian of the Two Holy Mosques King Abdullah and Chinese President Hu Jintao in Riyadh.." [more]

Kingdom’s Population 25 Million [Jun 9]
" The population of the Kingdom as of the middle of this year has been estimated at 25,373,512 persons, according to the Central Department of Statistics and Information. Abdullah Al-Batil, deputy operations manager for the population census, added that over 18 million of the total are Saudi nationals, made up of 9,307,550 males and 9,235,969 females. The statistics, based on birth and death rates for nationals and annual immigration figures for non-nationals, put the number of foreign expatriates at 6,830,266, with 4,687,043 males and 2,143,223 females. The estimations come ahead of the national population census which is scheduled to start early in the second quarter of 2010, possibly in tandem with other GCC states.." [more]

Gulf Facing Imminent Barriers to Clean Water [Jun 10]
"The obstacles that the Gulf region faces when it comes to clean water are imminent. According to various sources, Arab countries receive approximately 2 percent of the world’s rainfall and have a mere 0.4 percent of the world’s recoverable water resources, with less than 150 billion cubic meters of total water resources allocated to the 22 Arab states. By 2030, the population in Arab countries is expected to more than double. According to estimates, the population of Saudi Arabia has increased from 3.8 to 4 percent per year. As a result of this escalation, demand for water in Saudi Arabia has risen from 1 million to about 5 million cubic meters per day over the last 25 years.." [more]

Saudis Get a Draw in Seoul, 1 Win From World Cup [Jun 10]
"Saudi Arabia set up a showdown in qualifying for the 2010 World Cup with a 0-0 tie at South Korea on Wednesday.  The result moved the Saudis even with North Korea for second place in Group B. Saudi Arabia will host North Korea next Wednesday, with automatic World Cup qualification on the line. A tie will be enough for North Korea to advance.   The third-place team in the group will go to a playoff with the third-place team in Group A for the right to play Oceania champion New Zealand for a spot at the 2010 World Cup in South Africa.." [more]

Saudi Arabia Tops World List For New Retailers [Jun 10]
"Saudi Arabia saw more new retailers arrive in the past year than any other country in the world, according to new research by real estate consultancy CB Richard Ellis (CBRE). The kingdom attracted 37 new international retailers over the last year, according to an annual CBRE study that maps the global footprint of 280 of the world’s top retailers across 67 countries.  'What makes the retail market in the region so appealing is that over recent years has been the overall growth in the KSA, which has allowed for some strong sales figures and that has underpinned the introduction of new brands and the rapid expansion of outlets,'.."  [more]

~~~~~~~~ [ Jun 9]~~~~~~~~~

A New Era in US-Islamic World Ties: Cabinet [Jun 9]
"A new era has begun in the relations between the US and the Islamic world, said King Abdullah while chairing the weekly Cabinet session here, Monday. The King said his talks with US President Barack Obama Wednesday focused on strengthening and deepening the bonds of friendship between the two countries. King Abdullah told the Cabinet that he discussed with President Obama regional issues, foremost of which was the Mideast peace stalemate. The Cabinet viewed Obama’s Cairo speech as a new beginning, which would pave the way for a constructive, instrumental and genuine dialogue, said Minister of Culture and Information Dr. Abdul Aziz Khoja.." [more]

Saudi Foreign Minister Meets With Top Vatican Officials [Jun 9]
"Vatican officials met with Saudi Arabia’s foreign minister, Prince Saud Al Faisal, to discuss ideas that came out of a major interreligious meeting in Spain last year. Cardinal Jean-Louis Tauran, president of the Pontifical Council for Interreligious Dialogue, met with the prince and his delegation at the Vatican June 5. Three other members of the Vatican interreligious council were part of the closed-door deliberations. During the meeting, Vatican officials and the Saudi delegation exchanged ideas that came out of the World Conference of Dialogue in Spain in 2008 that had been initiated by Saudi Arabian King Abdullah Aziz, said a Vatican press release June 6.. ..The Vatican and Saudi Arabia do not have formal diplomatic ties, but King Abdullah met with Pope Benedict XVI in November 2007, the first such meeting between a pope and a reigning Saudi monarch.." [more]

Trade to Play Vital Role in Kingdom’s Ties With US [Jun 9]
"Saudi exports to the US have witnessed a substantial increase (due to the appreciation of oil prices) over the past year. Total exports in 2007 are estimated at SR141.3 billion ($37.68 billion). Saudi Arabia’s exports to the US have also changed direction over the years. In 2000, 20 percent of Saudi exports (mostly oil-based) went to the US, and by 2007 that figure had fallen to an estimated 15 percent.. ..Going forward, the Saudi-US economic relationship will continue to strengthen. Trade will play a pivotal role in the relationship between the two. The US, given its high-value, high-tech products should continue to maintain its niche position in the Saudi market for many years to come, but the nature of the trade relationship will evolve as global trends change and new competitors emerge.." [more]

Women's Education in Saudi Arabia: The Way Forward [Jun 9]
"In recent years, women's education in Saudi Arabia has experienced significant progress. Girls' access to education has increased and the gender gap reduced, while women's education has prompted a number of social developments.  However, lingering social norms, traditions, and the existing public education system have been constraints on women's realization of equal opportunities.. ..Saudi Arabia has invested large amounts of money in public education, but it has not resulted in an equal increase in women's production output. It has led to a growth in the number of girls' schools, to the detriment of teaching quality.." [more]

Saudi Arabia Set to Launch New Bond Market [Jun 9]
"Saudi Arabia is poised to launch a sukuk and bond market this week, a step analysts said Tuesday reflected the OPEC kingpin's push to further develop its debt market at a time when the global meltdown is drying up credit and restricting liquidity. The new market's launch on June 13 comes as Saudi Arabia, home to the world's largest proven reserves of crude oil and the Arab world's largest economy, forges ahead with a slew of infrastructure projects that officials say will cost around $400 billion over the next five years. It also marks a broader push within the Gulf Arab region to try to encourage a shift away from bank lending and the development of a new debt market.." [more]

Samsung Electronics in $100 mln Saudi Mobily Deal [Jun 9]
"Samsung Electronics (005930.KS) will supply Saudi mobile phone group Etihad Etisalat (7020.SE) (Mobily) with WiMax technology in a deal worth 375 million riyals ($100 million), Mobily officials said on Tuesday. Mobily said the wireless broadband network would be the biggest of its kind in the Middle East.." [more]

~~~~~~~~ [ Jun 8]~~~~~~~~~

Arab Patience Running Out – King [Jun 8]
"King Abdullah told US President Barack Obama during last week’s meeting that Arab patience was 'running out' and that solving the Palestinian issue was the 'magic key' to finding solutions to all other problems in the region.. ..'We the Arabs want to devote ourselves to building a generation capable of facing the future with work and knowledge,' the King reportedly told Obama. 'We need from you serious participation in solving the Palestinian issue and need you to enforce the solution if so required,' King Abdullah is quoted as saying by Al-Hayat, adding that delays in giving the Palestinians their rights complicated the case and every other case as a result.." [more]

Saudi Woman Minister Needs Permission to be on TV [Jun 8]
" Saudi Arabia's first woman cabinet minister cannot appear on television without permission, a newspaper quoted her as saying on Monday. Noura al-Faiz's appointment in February as deputy minister for women's education was hailed as a big step for the integration of women in conservative Saudi Arabia where a puritanical form of Islam bans women from driving, voting and mixing with unrelated men. 'I don't take my veil off and I will not appear on television unless it is allowed for us to do so,' Faiz told the daily Shamss, which published a picture of the deputy minister wearing a headscarf with her face showing.." [more]

Economic Cities to Boost GDP by $150b [Jun 8]
"The six economic cities are expected to contribute $150 billion to the Kingdom’s national product by 2020 and provide job opportunities for 1.3 million persons, according to reports in a study conducted by Ahli Capital, a subsidiary of the National Commercial Bank. The cities are also expected to house 4.9 million people. Other reports in the study on the Kingdom’s economic and industrial environments showed that the Saudi economy recorded the highest growth rate of countries in the Middle East over the last few years.." [more]

US Rapporteur Sees Rights Situation Improving [Jun 8]
"UN Special Rapporteur on Discrimination Against Women Yakin Erturk presented recently a report about her last visit to a number of countries including the Kingdom. The report was presented during the Human Rights Council 11th session last week. Erturk started by commending the Kingdom for its cooperation and providing a chance for her to meet with representatives from non-governmental groups. She praised the governmental Human Rights Commission’s for enabling her to fulfill her mission. In reference to the Kingdom’s collaboration with the UN in the field of human rights, the Erturk presented her report to the committee designated to eliminate all forms of discrimination against women. Erturk also pointed out that although Saudi society has sex discrimination, the Kingdom had witnessed many positive developments in a very short period of time.." [more]

Saudi to Keep July Crude Curbs Steady to Asia [Jun 8]
"Saudi Arabia, the world's top crude exporter, told three Asian term buyers on Monday it will keep supply curbs on contracted volumes of crude oil in July steady with June levels, industry sources said on Monday. Another Asian term buyer said it had yet to receive a notice for July supplies, but was expecting supply cuts to be the same as last month.." [more]

Indonesian Clerics Ask Saudis to Drop Hajj Vaccination [Jun 8]
"Indonesia's top Muslim body on Monday called on Saudi Arabia to drop a mandatory meningitis vaccination for hajj pilgrims, claiming the injection contains an enzyme from a pig, seen as unclean in Islam.. ..Amin said the vaccine manufacturer GlaxoSmithKline had confirmed that a pig enzyme was used in the early stages of production of the vaccine, but was not in the final product.. .."As the hajj pilgrimage is a religious obligation, we have asked the Saudi authorities not to insist on the meningitis vaccination requirement," Amin said, adding that if necessary, an alternative should be found. An official at Indonesia's religious affairs ministry said Saudi Arabia has required pilgrims to have a meningitis vaccination for 10 years, following an outbreak that originated with African pilgrims.." [more]

~~~~~~~~ [ Jun 7]~~~~~~~~~

No Diplomatic Overtures Before Return of Arab Land, says Saud [Jun 7]
"..Washington could use its aid as a lever to push Israel into a two-state settlement with the Palestinians, Foreign Minister Prince Saud Al-Faisal said in an interview published yesterday.. ..Prince Saud praised Obama’s 'sincerity' and his calling Israel’s expansion of West Bank settlements as 'not legitimate,' but said the speech 'has yet to be translated into actions.' And he fended off Washington’s call for Arab states to make diplomatic overtures to Israel to get new peace negotiations off the ground. 'We don’t have anything to offer Israel except normalization, and if we put that before the return of Arab land we are giving away the only chip in the hands of Arab countries,'.." [more]

Saudi Security Forces Deter Anti-Manahi Film Protesters in Riyadh [Jun 7]
"Saudi security forces thwarted efforts by Islamic militants in Saudi Arabia to prevent the screening of the film, Manahi, at the King Fahd Cultural Center. The film has sparked protests from militants who threatened to stop the screening of the film, which they called a corruption and a sin. The film was first shown in Riyadh on Friday, marking the first time in three decades that cinemas opened in Saudi Arabia.. ..Two militants had entered a cinema to try to stop a screening of the film and called film director Fayez Al Maliki a 'leader of misguided people' . Al Maliki also received threats via SMS, according to media reports.." [more]

Gulf States Sign Monetary Pact After UAE Pullout [Jun 7]
"Four Gulf Arab states signed a pact on Sunday creating a pared-down monetary union with a currency starting with a dollar peg, after the United Arab Emirates became the second country abandoning the project. 'The joint Gulf currency will be pegged to the dollar,' Abdul-Rahman al-Attiyah, Secretary-General of the Gulf Cooperation Council (GCC).. ..With the exception of Kuwait, which dropped its dollar peg in favour of currency basket in 2007, the other three union members Saudi Arabia, Qatar and Bahrain all have pegged their currencies to the greenback.. ..'This is also a confidence booster to the U.S. economy by the largest energy exporter in the world,'.." [more]

Saudi Regulator Approves Six IPOs Over June-Oct [Jun 7]
"Saudi Arabia's stock market regulator said on Sunday it had approved six initial public offerings (IPOs) for the period until October, the first of which will be for Saudi Steel Pipes Co (SSP) this month. The IPOs will be the first since April when four insurance companies raised 260 million riyals. SSP, which was founded in 1980 and caters mainly to the oil and gas industry, will offer 16 million shares, or 31.4 percent of its capital, over the June 27 to July 3 period, the Capital Market Authority (CMA) said in statements. Mouwasat Medical Services Co, set up in 1975 and engaged in the ownership and management of hospitals and pharmacies, will sell 7.5 million shares representing 30 percent of its capital over Aug. 15 to 21.." [more]

May 31-Jun 6, 2009

~~~~~~~~ [ Jun 6]~~~~~~~~~

Cinema Returns to Riyadh on Friday After 30 Years [Jun 6]
"The Saudi capital of Riyadh witnessed on Friday a film show, the first of its kind since cinema was banned in the country three decades ago. The film 'Manahi', a comedy starring Saudi actor Fayez Al Maliki was screened at the King Fahd Cultural Centre to a huge audience. The show is an important turning point in Saudi culture and society. Rotana, owned by the Saudi billionaire Prince Alwaleed Bin Talal, is screening the film in Saudi Arabia. The film was previously shown in Jeddah and Taif, and achieved unprecedented success by attracting a total of 25,000 male viewers and 9,000 female viewers, although some Islamic radicals opposed and tried to prevent the screening.." [more]

Currency Union Pact to be Signed Monday [Jun 6]
"An accord on monetary union among four members of the six-nation Gulf Cooperation Council will be signed Monday, the Saudi Press Agency (SPA) quoted GCC Secretary General Abdurrahman Al-Attiyah as saying Friday. On May 20 the United Arab Emirates pulled out of the proposed monetary union. Oman announced in 2007 that it would not join. The signing had originally been planned for Sunday but will now take place during a meeting in Riyadh of GCC foreign ministers. Al-Attiyah said Monday’s meeting would also take stock of US President Barack Obama’s visit to both Saudi Arabia and Egypt.." [more]

Saudi-Swedish Ties Gain New Height [Jun 6]
"Since last year, there has been acceleration in the relations between Saudi Arabia and Sweden.. ..The Ambassador said expansion of bilateral cooperation in education and research is among his country’s priority areas. 'In this connection, we have already signed memorandums of understanding with King Saud University and other institutions in the Kingdom. We welcome Saudi students as we are now covered by the King Abdullah Scholarship Program of the Custodian of Two Holy Mosques.'  On the trade front, there was a 22 percent jump last year. Swedish exports to the Kingdom totaled 1 billion euros, while its imports from the Kingdom grossed 200 million euros, mostly minerals.." [more]

Saudi FM Wants US to Press Israel by Cutting Off Aid [Jun 6]
"Saudi Arabia's foreign minister, Prince Saud al-Faisal, said the US should use aid it gives Israel as leverage in order to pressure the state into accepting the US-backed two-state solution. In an interview with Newsweek published Saturday Faisal said, 'The United States has the means to persuade the Israelis to work for a peaceful settlement. It needs to tell them that if it is going to continue to help them, they must be reasonable and make reasonable concessions.' When asked whether the US should withhold funds until Israel agreed to a peace plan calling for the establishment of a Palestinian state Faisal said, 'Why not? If you give aid to someone and they indiscriminately occupy other people's lands, you bear some responsibility.'.." [more]

~~~~~~~~ [ Jun 5]~~~~~~~~~

Harsco Inks $2.4M Pact With Saudi Basic Industries [Jun 5]
"Industrial service provider Harsco Corp. said Friday it signed a contract in the U.K. worth about $2.4 million with industrial company Saudi Basic Industries Corp. for a range of scaffolding equipment and services. Saudi Basic Industries makes chemicals, fertilizers, plastics and metals. Work under the contract is scheduled to begin in June and continue into next year.  Shares of Harsco rose 87 cents, or 3 percent, to $31.64 in midday trading. The stock has traded between $16.90 and $63.82 over the last 52 weeks.." [more]

Dabbagh Seeks Boosting Saudi-Russian Relations [Jun 5]
"Amr Al-Dabbagh, Governor and Chairman of the Board of Directors of the Saudi Arabian General Investment Authority (SAGIA), has called for the strengthening of Saudi-Russian relations. Speaking at the 5th Annual St. Petersburg Economic International Forum on Thursday, he said 'Russia is an important but underrepresented potential collaborator on a number of fronts, but our potential for equitable bilateral trade has not been fully realized, perhaps due to a lack of formal institutions and mechanisms for doing so.'.. ..Regionally, Russia-Arab trade has developed, in large part due to a favorable political climate, with trade turnover in 2009 approached $8 billion. Russian-Saudi trade, on the other hand, is very weak considering current potential, he pointed out. In 2007 the balance of trade was $903 million, with Saudi exporting $8.27 million compared to $911 million imported from Russia.." [more]

Obama Taps Raytheon Exec as Envoy to Saudi Arabia [Jun 5]
"President Obama this afternoon announced another batch of nominees for ambassadorships, including a Raytheon executive as envoy to Saudi Arabia. Retired Air Force General Brigadier General James B. Smith is an international business development executive at Raytheon Integrated Defense Systems.." [more]

Women Delighted at Obama’s Address [Jun 5]
"For women across the Muslim world, US President Barack Obama’s historic address from Cairo was nothing short of a blessing. He acknowledged his respect for their personal choices and at the same time underscored his belief that their choices should be personal. 'God bless him,' said Asya Al-Ashaikh, founder and CEO of the Jeddah-based Tamkeen Development and Management Consulting.. ..Obama divided his speech into seven sections, mostly political. However, the sixth issue focused entirely on women’s rights. 'I know there is debate about this issue,' Obama said. 'I reject the view of some in the West that a woman who chooses to cover her hair is somehow less equal, but I do believe that a woman who is denied an education is denied equality. And it is no coincidence that countries where women are well-educated are far more likely to be prosperous.'.." [more]

Uzbekistan, Saudi Arabia Sign Credit Agreement [Jun 5]
"The minister of finance of Saudi Arabia Ibragim Abdulaziz Al-Assaf held talks at the Ministry of finance of Uzbekistan on 4 June. The negotiations focused on issues of expansion and strengthening economic and investment cooperation, as well as development of joint projects. After the talks, the ministries of finance of the two states signed a credit agreement on the project of reconstruction of the Alat pump station in Bukhara region.." [more]

Crude Drops Under $69/Bbl After 7-Month High [Jun 5]
"Crude oil futures prices dropped below $69 a barrel early Friday after climbing to a seven-month high above $70 a barrel in response to news that U.S. nonfarm payrolls fell by less in May than was expected. 'This initial rally in crude looks to have failed,' aided by strength in the dollar, said Adam Klopfenstein, senior market strategist at Lind-Waldock. Earlier, dollar weakness helped boost crude futures. Jim Ritterbusch, president of Ritterbusch and Associates said crude could show continued strength in coming days, with further gains to $76 in the next few weeks. Crude has gained sharply in the past week on predictions from OPEC and bankers that oil prices will climb above $75 a barrel by year end. Goldman Sachs sees prices at $85 by the end of 2009 and at $95 by the end of 2010. The bank sees declining non-OPEC output tightening supply as global oil demand improves amid an expected economic recovery. Still, in the U.S., the world's biggest oil consumer, demand hit its lowest level in 10 years in the latest week, and inventories remain at extremely high levels.." [more]

~~~~~~~~ [ Jun 4]~~~~~~~~~

Saudi Reform in Fits and Starts [Jun 4]
"Saudi Arabia's King Abdullah presents himself as a sponsor of reformed Islam, but as Ginny Hill discovers competing power bases in the country mean that social reform develops sporadically. Saudi Arabia's zealous religious police - the mutaween - are often among the first clichés that spring to mind when Westerners think about life inside the kingdom. During two weeks in Riyadh, I was curious to know if I would encounter any members of the religious police.. ..For several decades, Saudi Arabia's religious police have been the lynchpin in a power structure linking hard-line Wahabi clerics to the Saudi royal family. But King Abdullah has been sponsoring a slow-burn reform programme since inheriting the throne. And he replaced the head of the mutaween in a rare cabinet reshuffle in February. The move was seen as an attempt to rein in the organisation's most brutal and oppressive elements.." [more]

Saudi Applauds Women Appointments to Council [Jun 4]
"Saudi leaders have commended the appointment of six women to the Shura Council, which oversees the implementation of Islamic laws and values, and are calling for women to be allowed to drive in the conservative Muslim country. Women are needed to decide various issues, especially concerning families, said Sheikh Azeb bin Saeed Aal Mesbil, head of the Islamic affairs and judiciary committee at the Shura Council, daily Saudi Gazette reported on Thursday. 'It should be borne in mind that the life of our society has changed and so we at the council need to seek the opinions of experts, be they men or women. We need to listen to women on social and family issues,'.." [more]

Saudi Business Confidence Wanes But at a Slower Pace [Jun 4]
"Saudi Arabia’s business confidence fell to 88.3 in the second quarter from 89.2 in the first quarter, a report from the Saudi British Bank showed Wednesday. However, the 'pace of decline is slowing,' it said. The bank said business confidence is very much predicated on the government’s ability to continue providing credible evidence that the money is being spent. So far, signals from the government have included: (a) contractors being paid on time; and (b) 20-30 percent advance payments becoming the norm since Q1 for those who work on government- related projects. The government has doubled its spending during the past year (in terms of the value of projects approved by the Ministry of Finance) from around SR20 billion to SR40.6 billion. This spending is a necessity as the private sector is largely frozen and considers expansion only with caution.  Around 51 percent of respondents expect businesses to grow over the next two quarters.."  [more]

Gulf Arab Market Rally Running Out of Steam [Jun 4]
"Gulf stock markets could suffer a double-digit correction as a slump in summer trading and little improvement in the wider economy spark selling across key sectors, analysts said. Analysts warn the rally -- four of seven markets are at 2009 highs in rising volumes -- is unlikely to be sustained, not only because stocks are overpriced but because the economic downturn is expected to send many wealthy expatriates home for good.. ..Gulf exchanges have rallied strongly since March 1, with Qatar's index surging 70 percent, Saudi Arabia rising by 37 percent and Kuwait up by a nearly a third. Dubai has added 28 percent and Abu Dhabi 15 percent, while the smaller Oman and Bahrain indexes have climbed 17 and 2 percent respectively.." [more]

~~~~~~~~ [ Jun 3]~~~~~~~~~

Readers Cautious But Hopeful About Obama's Visit [Jun 3]
"Barack Obama's first steps in the Middle East since becoming US President do not necessarily mean a giant leap for mankind. While raising both hopes and scepticism, Obama's visit has plunged Gulf News readers into debate. The US President arrived in Saudi Arabia on Wednesday ahead of his keynote address to the Arab and Muslim world in Cairo, Egypt. Murad Lassoued, a Tunisian expatriate, was optimistic about the president's role in bridging the East and West. He said: 'I expect Obama to reconcile the Arab world with the US. He has promised a lot of things so far and has delivered. If he continues to do so, America's reputation will finally be repaired.'.. ..The fact that the US President made a Middle East visit part of his agenda in his first year of presidency shows that he is serious.." [more]

Saudi Arabia Confirms First H1N1 Flu Case [Jun 3]
"Saudi Arabia has confirmed its first case of the H1N1 flu virus in a Filipina nurse, the kingdom's health minister said on Wednesday. The woman arrived on Friday on board a Gulf Air flight from the Philippines and showed first symptoms on Monday, Abdullah Al Rabeeah told Saudi news channel Al Ekhbariya, adding that she was being held in quarantine. Saudi authorities are tracking down people who had contact with her on the flight and in the hospital, he said.." [more]

Riyadh Meeting and New Arab-US Relations [Jun 3]
"Sources have said that the Saudi and US foreign ministers will hold separate talks during President Barack Obama’s visit to the Kingdom Wednesday, with Prince Saud Al-Faisal and Hillary Clinton expected to discuss developments on regional and Arab issues. Palestinian President Mahmoud Abbas spoke of the importance of the Obama visit within the Middle East’s “exceptional circumstances”, saying that the Palestinian people had great expectations of the meeting since King Abdullah has always placed the Palestinian cause and the need for a comprehensive and just solution to the Arab-Israeli conflict at the top of his priorities. Abbas said that the Palestinians were looking forward to the results of the Riyadh meeting and Obama’s speech to be delivered in Cairo, expressing hopes that the two events would result in a positive breakthrough for the achievement of Arab interests.." [more]

U.S. Lawmakers Say Saudis Texts Incite Hatred [Jun 3]
"U.S. lawmakers on Wednesday called on the Saudi government to stop distributing children's religious textbooks they said incited hatred and intolerance toward Jews, women and homosexuals. The request by three Democratic legislators coincided with President Barack Obama's visit to Saudi Arabia and Egypt this week to shore up beleaguered U.S. relations with Muslims worldwide. 'This is not some rogue document,' Congressman Anthony Weiner told reporters. 'This is the position of the Saudi government. If we're going to solve the generational conflicts, it's important not to hate one another.' His Democratic colleague, Shelley Berkley of Nevada, backed the move. 'We hope this will be part of the discussion President Obama has with the Saudi leaders,' she said.." [more]

Rising Cost of Living Biggest Concern for Saudis [Jun 3]
"The rising cost of living is the single biggest issue impacting Saudi consumers’ lifestyle according to a new survey, with unemployment coming a distant second. Out of 1,002 Saudi nationals polled by international market research firm TNS, 53 percent said they thought inflation would impact their lifestyle negatively this year, while 19 percent said they were worried about unemployment. Overall, Saudis were more optimistic about their overall financial situation and the state of their local economy, according to a separate TNS study on the financial crisis based on interviews with 300 people.." [more]

Dhahran to Host WE Power From June 7 [Jun 3]
"Dhahran will become the water and power capital of Saudi Arabia from June 7 to 10 when the Kingdom’s oil city will host the WE Power exhibition and conference. Now in its fifth year, WE Power has built a strong reputation as the platform where policy makers, industry leaders, experts and practitioners from the water and power industry meet and discuss. This year, with the addition of a strategic conference, WE Power is likely to exceed quality expectations as the most prestigious names in the industry have lined up to speak at the conference including Fareed Zedan, governor of the Electricity & Co-Generation Regulatory Authority, Loay Al-Musallam, CEO of National Water Company, and Paddy Padmanathan, president & CEO of Acwapower.." [more]

~~~~~~~~ [ Jun 2]~~~~~~~~~

Cabinet Backs OPEC Decision on Production [Jun 2]
"The Council of Ministers yesterday favored an oil price of $75-80 per barrel, which they called a fair price. They also agreed to an OPEC decision to keep its output ceiling unchanged. The Saudi Cabinet reviewed the results of the May 28 OPEC meeting and said OPEC’s move, which helped drive crude prices above $68 a barrel in London trading yesterday, would not have a negative impact on the recovery of the global economy. Culture and Information Minister Abdul Aziz Khoja said the Cabinet meeting endorsed the protocol related to preferential trade agreements among the members of the Organization of the Islamic Conference (OIC), the largest bloc of Muslim countries in the world.." [more]

Iran, Mideast Peace Likely Obama Focus in Saudi [Jun 2]
" President Barack Obama begins a crucial Mideast trip Wednesday with a visit to Saudi Arabia, where concerns about U.S. outreach to Iran, the Israel-Palestinian peace process, and the kingdom's willingness to accept Yemeni prisoners from Guantanamo will all likely be on the agenda. The range of issues highlights the important relationship between the U.S. and Saudi Arabia, one of Washington's strongest allies in the Middle East. The Sunni Arab powerhouse is also the world's largest oil exporter and its king is considered the guardian of Islam's holiest places, Mecca and Medina. Denis McDonough, the U.S. deputy national security adviser for strategic communications, said Friday that Obama's visit to Saudi Arabia is 'part of our outreach to the Muslim world, but also an opportunity to discuss a range of important concerns from energy to Middle East peace to the fight against extremism.'.." [more]

Chevron Eyes Saudi Oil Project Expansion in 2017 [Jun 2]
"U.S. oil major Chevron (CVX.N) could deploy a technique to boost oilfield output across the neutral zone between Kuwait and Saudi Arabia in 2017, a top Chevron executive said on Tuesday. If successful, the technique could be rolled out worldwide and add billions of barrels to global reserves, said Guy Hollingsworth, Chevron's president for exploration and production in Europe, Eurasia and the Middle East. 'We could go to full-field in 2017,' Hollingsworth told reporters on the sidelines of an energy conference in Abu Dhabi. Chevron is testing the impact of steam flooding in the oilfields in the neutral zone to help boost output of heavy oil. Steam raises the temperature below ground and loosens up crude that is otherwise difficult to pump. The U.S. firm would begin the second stage of the testing program in July, Hollingsworth said.." [more]

Dow, Conoco Saudi Projects Delayed [Jun 2]
"Dow Chemical Co's and ConocoPhillips' major joint ventures in Saudi Arabia face delays, a Saudi state oil company official said on Tuesday. A giant petrochemical plant that Saudi Aramco planned to build with Dow Chemical Co would start up in 2015, Abdulaziz al-Judaimi said. That was about two years behind the initial schedule. Engineering and design for that plant should be completed in 2010, Judaimi, vice president for new business development at Aramco, told an energy conference in Abu Dhabi. Dow's planned investment in the plant would be the largest single investment by a foreign oil company in the Saudi energy sector. The price tag for the plant was at least $20 billion. The final investment decision (FID) on the project is expected to be completed in the third quarter of 2010, Judaimi said.." [more]

Saudi Arabia Suffers Lack of Working Women as Oil Fluctuates [Jun 2]
"Deep in the Arabian desert, hundreds of guests celebrate the birth of a city. The Saudi government has flown them in on chartered planes to the northern city of Hail, then driven them for about half an hour in buses with police escorts to a giant marquee in the sand with a red carpet out front. Inside, curtains with gold tassels adorn walls decorated with artists’ renditions of Prince Abdulaziz bin Mousaed Economic City, which the government says will be home to 300,000 people when it’s built. 
After prayers from the Koran, the ceremony begins with a speech by Amr Al-Dabbagh, head of the ministry that has planned the city, who wears a formal cloak with gold trim. The audience -- all male, except for one woman -- sips tea and plucks chocolates off silver trays.." [more]

~~~~~~~~ [ Jun 1]~~~~~~~~~

Obama, Saudi King to Discuss Oil - White House [Jun 1]
"The White House reiterated on Monday that President Barack Obama is likely to discuss current oil prices when he meets Saudi King Abdullah later this week in Riyadh. 'I assume that's something that will indeed be on the docket,' White House spokesman Robert Gibbs told reporters when asked whether Obama would talk to the king about oil prices that jumped to 2009 highs on Monday.." [more]

Piracy Focus of Talks With Yemen [Jun 1]
"Yemeni President Ali Abdullah Saleh, who arrived here yesterday, said his talks with Custodian of the Two Holy Mosques King Abdullah would explore prospects of expanding relations in economic, political and security fields. 'Coordination of efforts to combat terrorism and seaborne piracy is another important subject for discussion,' the president said. King Abdullah and Saleh held talks on major regional and international issues and ways of strengthening cooperation, the Saudi Press Agency said, adding that top officials from both sides attended the talks. Earlier on arrival at Riyadh Airbase, the Yemeni president was received by King Abdullah, Second Deputy Premier and Minister of Interior Prince Naif, senior princes and Cabinet members.." [more]

Saudi Saad Group Says to Restructure Debt [Jun 1]
"Private Saudi Saad Group said on Monday it plans to restructure the debt of subsidiaries affected by the repercussions of the global financial crisis. 'Recent external events (and) more recent events, specifically affecting the Bahraini banking sector, have led to a short-term liquidity squeeze affecting Saad Group companies in the Middle East,' Saad Group said in a statement. 
'We are continuously striving to mitigate the effects of this limited squeeze, and are also planning for an orderly restructuring of the debt of affected companies in cooperation with our counterparties and international advisers,' it added. The kingdom's central bank froze its chairman's accounts, bankers said earlier. The statement made no reference to such a measure.." [more]

M’sian Firms Urged to Invest in Saudi Arabia [Jun 1]
"Malaysian investors should head to Saudi Arabia for growth opportunities as the country has not been severely affected by the global economic crisis, with an estimated US$500bil (RM1.74 trillion) worth of investment opportunities over the next five years, according to Saudi authorities. Saudi Council of Chambers and Industry secretary-general Fahad Al Sultan said the Saudi economy was expected to grow by 6.2% this year, from 4.7% last year. 'The Saudi economy is one of the least negatively impacted by the international crisis,' he told a press conference here yesterday, adding that sectors such as education, health, telecommunication , infrastructure, agriculture and railroads had plenty of growth opportunities.." [more]

~~~~~~~~ [ May 31]~~~~~~~~~

President Obama Making Crucial Visit to Muslim Leaders in Saudi Arabia, Egypt [May 31]
"President Obama hopes to begin winning over hearts and minds of the Muslim world with strategic visits this week to pro-Western allies Saudi Arabia and Egypt. Obama will dine with Saudi King Abdullah in Riyadh Wednesday, but the crowning moment of the trip comes a day later when he uses a speech at Cairo University to lay out his vision for a two-state solution between Israel and the Palestinians - and reiterate U.S. respect for mainstream Islamic culture. 'Abdullah will press for immediate U.S. action, not just words, to relaunch talks on an independent Palestinian state,' said David Ottaway, senior scholar at the Woodrow Wilson Center. 'Obama will be pressed to explain his opening of a dialogue with Iran, while the king will have to explain why he feels a 'fair price' for oil is $75 a barrel in the midst of a worldwide economic depression,'.." [more]

Saudi Billionaire With HSBC Stake Has Accounts Frozen [May 31]
" Saudi Arabia’s central bank ordered the country’s banks to freeze the accounts of Maan al-Sanea, the Saudi billionaire who owns a stake in HSBC Holdings Plc, people familiar with the instructions said. Al-Sanea, who is chairman of the Khobar-based Saad Group, also manages The International Banking Corp. B.S.C., the Bahrain-based unit of Ahmad Hamad Algosaibi & Brothers Co. that has defaulted on some of its debt, according to an Algosaibi official who spoke on condition of anonymity. Saad Group said al-Sanea does not manage the unit. The Saudi Arabian Monetary Agency sent circulars to the legal departments of Saudi-based banks on May 28 and May 30 telling the lenders to freeze the accounts, including credit cards, of al-Sanea, 54, his wife and four family members, according to one person who read the documents. SAMA didn’t say why it took the action, according to the person, who declined to be identified because the information is confidential.." [more]

Naif Rebuffs Iraqi Accusations [May 31]
"Second Deputy Premier and Minister of Interior Prince Naif has rejected charges by the Iraqi government that Riyadh was allowing Saudis to join Iraq’s Sunni insurgency. He urged Baghdad to improve border security. In remarks published yesterday in the local Arabic press, Prince Naif said the Kingdom wants only what is in Iraq’s best interests. 'The Iraqi government knows where the (foreign) fighters come from,' said Prince Naif, denying claims that Saudis are infiltrating Iraq. Iraqi Prime Minister Nuri Al-Maliki said on Thursday that Iraq’s efforts to build diplomatic ties with Saudi Arabia had not been reciprocated and more would be 'useless' without a change of heart from Riyadh. 'The Kingdom wants only the good and stability of Iraq in all aspects but if there is someone in Iraq working against its interest and expecting the Kingdom to support him, this will not happen,' Prince Naif said. 'The Kingdom does what is in the best interest of Iraq and its people and the return of Iraq to its unity and sovereignty,'.." [more]

Saudi Eyes Fannie Mae-Style Firm in Home Loan Push [May 31]
"Saudi Arabia plans to set up a Fannie Mae-style company to buy mortgages from financial institutions and help develop national sukuk and debt markets, Saudi Arabia's finance minister said. The company would be formed in conjunction with Saudi Arabia's first mortgage law, which should come into effect before the end of the year, Ibrahim al-Assaf said in an interview in Oman on Saturday.. .."One of the elements of the mortgage laws is to create this institution. It is one of the components,' al-Assaf told Reuters, adding the company, which would be tailored to local market needs, should be formed before the end of the year. At 62 percent of the population, home ownership in Saudi Arabia is comparable or exceeds that of advanced markets, but most home financing has up to now been done through traditional family financing means and government loans.." [more]

Yemen Wants Saudis to Block Cash for Separatists [May 31]
"Yemeni President Ali Abdullah Saleh will ask King Abdullah of Saudi Arabia to block the flow of funds from Yemeni expatriates to separatists in the south, a Yemeni government source said on Sunday. Yemen, which is trying to shake off an image of violence to promote its tourism sector, has witnessed frequent clashes between government forces and protesters in the south, where secessionist sentiment is strong. 'Saleh will be discussing the situation in Yemen with King Abdullah, and the activities of some of the Yemeni opposition living in Saudi Arabia,' the source said. The talks will tackle 'measures against individuals raising donations to support the protests in the south' , he said.. ..Saudi Arabia and Yemen, one of the poorest countries outside Africa, are allies of the United States and are partners in the fight against al Qaeda-linked Islamists.." [more]

Company in Saudi Rail Project Linked to Israel [May 31]
"A plan to link Makkah and Madinah by train has become the subject of controversy, as Palestinian officials try to persuade Saudi authorities to withdraw the rail contract from a company alleged to be complicit in Israel's expansion in occupied East Jerusalem. Palestinian foreign ministry officials have expressed reservation at a recent Saudi announcement awarding the contract for the Haramain Express railway to a consortium consisting of French company Alstom Transport. AlstomAlstom is part of a group of companies that is building a light rail network in occupied Jerusalem, which is expected to extend to occupied East Jerusalem and Jewish colonies in the occupied West Bank. 'Backchannel talks with the Saudis are ongoing,' a Palestinian foreign ministry official said on condition of anonymity. He did not divulge details of the talks but said they would be based on an Arab LeagueArab League decision barring states from dealing with companies building the light rail.." [more]

OIC’s Gaza Education Caravan in Ramadan [May 31]
"The Kingdom’s “Education Caravan” destined for Gaza will get under way in Ramadan, the Organization of the Islamic Conference announced yesterday. The caravan aims to help the education sector in the war-ravaged Palestinian territory. This includes providing school buses, student and teacher materials and rebuilding demolished schools. 'What better time to start the campaign than the holy month of Ramadan?' said Atta Almannan Bakheet, OIC’s assistant secretary-general for humanitarian affairs. 'Ramadan is a month of giving.' The education campaign, the fourth in a series of charity campaigns organized by the OIC as part of the Custodian of the Two Holy Mosques’ initiative, is the first specialized caravan to help the people of Gaza. Three previous caravans succeeded in collecting 2,800 tons of relief supplies worth SR30 million. The third caravan alone managed to provide 1,000 tons of food and medical equipment, including 10 ambulances, worth a total of SR12 million. The OIC, in cooperation with the Jeddah Chamber of Commerce and Industry’s Private School Committee and local bookstores, will organize the education caravan.." [more]

British Council Embarks on Two Major Projects [May 31]
"The British Council, under the umbrella of Social Partnership Projects, runs two large-scale programs, Springboard and Global Changemakers.  Springboard, a women’s self-development program, was introduced to Saudi Arabia in December 2004 as part of the British Council’s plans to develop women’s activities. It has attracted more than 600 Saudi women, all of whom found the program extremely beneficial in boosting their confidence and helping them to further develop their personal and working lives.. ..At the same time, the Global Changemakers project, introduced to Saudi Arabia by the British Council, aims at enhancing the capacity of future leaders to meet global challenges. It links young community and future influencers from diverse backgrounds around the world in a sustainable global network. The participants are emerging talents, aged 16 to 25, who are committed to positive social change in their communities.." [more]

May 24-May 30, 2009

~~~~~~~~ [ May 30]~~~~~~~~~

Saudi Arabia Rejects Iraq Claims of Negativity [May 30]
"Saudi Interior Minister Prince Nayef bin Abdul-Aziz has rejected Iraqi claims that the kingdom was adopting 'negative positions' on repairing diplomatic ties and urged Baghdad to improve border security. In remarks published on Saturday by Saudi newspapers, Prince Nayef, who is also second deputy prime minister, said the kingdom wants only what is in Iraq's best interest. Iraqi Prime Minister Nuri al-Maliki said on Thursday Iraq's efforts to build diplomatic ties with Saudi Arabia had not been reciprocated and more would be "useless" without a change of heart from Riyadh. 'The kingdom only wants the welfare and stability of Iraq,' al-Watan quoted Prince Nayef as saying in answer to Maliki. 'The kingdom does what is in the best interest of Iraq and its people and the return of Iraq to its unity and sovereignty,'.." [more]

Naimi Says No OPEC Boost Until Stocks Fall [May 30]
"OPEC would wait until crude inventories fell to around 53 days of forward cover before considering raising output, Saudi Oil Minister Ali al-Naimi was reported as saying in remarks published late on Friday. OPEC left output targets unchanged at a meeting on Thursday, as higher oil prices and optimism the global economy would soon start to recover outweighed concern over high crude stocks. The oil price hit a six-month high over $66 a barrel on Friday. 'We will wait until inventories are at the level which we consider reasonable, which is about 53 days of forward cover,' the minister for the top oil exporter told industry publication Petroleum Argus in an interview, when asked what would prompt OPEC to increase supply. 'I think that is a fair level.'.." [more]

Saudi PIF to Buy Stakes in Mortgage Lenders [May 30]
"The Public Investment Fund (PIF), the Saudi finance ministry's investment vehicle, plans to take stakes of up to 40 per cent in new mortgage lenders, industry sources said on Saturday. PIF, which is already one of the biggest investors in the Saudi stock market, said in March that it plans to venture into mortgage financing in anticipation of a mortgage law expected to come into effect this year. The new law could open up home ownership to more of the 25 million population in the most-populous Gulf Arab country, less than a third of whom currently owns property. The low home-ownership ratio is seen by analysts as reflecting some weaknesses in Saudi Arabia's wealth distribution policies.." [more]

SR1bn Education Project Finalized [May 30]
"The Ministry of Education will launch a SR1 billion project to upgrade the mathematics and science syllabi in the Kingdom’s schools, Al-Watan newspaper reported yesterday. 'As part of the project — starting next academic year — new syllabi will be introduced in the first and fourth standards of primary schools and the first standard of intermediary schools. Secondary schools will get the new syllabus a year later,' said Muhammad Asiri, secretary-general of the project. Asiri was speaking at a meeting of teachers and other Education Depart- ment officials in Qunfuda. More than 400 maths and science teachers, including women, participated in the meeting. 'The Ministry of Education is making preparations to implement the project after it got the approval from higher authorities in 2004. As an initial step, the ministry undertook a feasibility study,' he said.." [more]

Saudi Energy Economics Think Tank Formed [May 30]
"The new Saudi Association for Energy Economics (SAEE) held its first formal gathering at the Plaza Conference Center here recently. Minister of Petroleum and Mineral Resources Ali Al-Naimi addressed the new organization and several members of Saudi Aramco executive management. 'The step we take today will have a direct impact on the future of the energy industry in our country,' he told the group, made up of Saudi Aramco and industry professionals. 'SAEE’s mission is to provide an interdisciplinary forum for the exchange of ideas, experiences and issues among business, academics, policymakers and other professionals interested in the field of energy economics,'.. ..'Given the central role energy plays in the Saudi economy, we strongly believe that such an affiliation will enhance the local understanding of the challenges facing the energy industry and provide a forum to debate and propose solutions to these challenges,'.." [more]

High Court is Urged to Block 9/11 Suit Against Saudis [May 30]
"In a setback for insurers and individual victims of the 9/11 attacks, U.S. Solicitor General Elena Kagan urged the Supreme Court yesterday to reject allegations that Saudi Arabia was responsible because it indirectly financed al-Qaeda and other terrorist groups. Kagan, in a 22-page amicus brief filed yesterday with the Supreme Court, said U.S. law generally barred lawsuits against foreign governments for supporting terrorism unless they met narrowly tailored exceptions. Kagan said none of those exceptions applied, and she advised the court not to hear the case. The brief was in response to allegations contained in a lawsuit filed by Center City's Cozen O'Connor law firm on behalf of dozens of insurance companies that lost billions at ground zero. Hundreds of victims' families and survivors also have joined in the litigation alleging Saudi responsibility. The Supreme Court generally - but not always - follows the recommendations of the solicitor general in deciding whether to hear a case.." [more]

~~~~~~~~ [ May 29]~~~~~~~~~

Obama to Cement Saudi Ties on Surprise Trip [May 29]
"U.S. President Barack Obama is likely to hear Saudi Arabia's King Abdullah air his worries about the festering Arab-Israeli conflict and rising Iranian influence when he visits Riyadh next week. Obama, who meets King Abdullah on June 3, added a surprise Saudi leg to his trip to Europe and Egypt, where he plans to deliver a much-anticipated speech to the Muslim world. The decision reflects the enduring importance of a bilateral bond based on guaranteed oil supplies in return for U.S. protection for the Saudi monarchy that was sealed in the 1940s. Washington is keen to prevent any spike in oil prices that might threaten economic recovery -- U.S. crude hit a year-high on Tuesday.." [more]

Saudi Commerce Minister Urges Closer Ties With U.S. [May 29]
"In Saudi Arabia, water is becoming as precious as oil, and grain has to be imported from around the world. Such conditions could create new opportunities for Washington agriculture, said Abdullah Alireza, minister of commerce and industry of the Kingdom of Saudi Arabia. Alireza was in Seattle this week and addressed about 140 guests at a private dinner Wednesday sponsored by the U.S.-Saudi Arabian Business Council. As President Obama prepares to visit Saudi Arabia next week, Alireza said relations are entering a new era. 'We need to work together to reverse past failures,' he said. He said Obama's speech in Turkey — declaring that 'the United States is not, and will never be, at war with Islam' — was 'highly welcome in Saudi Arabia. It gives us a glimmer of hope.'.." [more]

OPEC News Sends Oil to 6-Month High [May 29]
"Crude oil rose to a six-month high after the Organization of the Petroleum Exporting Countries decided to leave production quotas unchanged and a government report showed US inventories declined. Saudi oil minister Ali al-Naimi said that the group opted not to alter its targets because "prices are good, the market is in good shape." Oil should stay in a $60 to $70 range for the rest of the year, OPEC said. The gain accelerated after the US Energy Department said US oil supplies fell the most since September. Crude for July delivery rose $1.63 to $65.08 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 5.." [more]

Germany, KSA Sign Anti-Terror Agreement [May 29]
"Saudi Arabia and Germany signed a security cooperation pact here Wednesday evening. The intelligence-sharing agreement signed by Second Deputy Premier and Interior Minister Prince Naif Bin Abdul Aziz and German Interior Minister Wolfgang Schaeuble will encompass possible terrorist financing and money-laundering. Srince Naif said the draft agreement left none of the security tasks untouched. They even agreed on the method of dealing with each aspect and the positive and practical measures. Prince Naif expressed his hope that there would be international cooperation to dry up the sources of terrorism and return terrorists to their societies as good citizens. He said the Kingdom was working in creating channels for positive and practical cooperation with all security agencies in the world.." [more]

Two From Saudi Arabia Among the 15 Ford Environmental Grants Winners [May 29]
"Fifteen environmental initiatives will share a total of $100,000 this year as part of the 2008-2009 Ford Motor Company Conservation & Environmental Grants program. The nine members of the independent jury panel convened in Dubai recently to select and vote on the winners in this year’s Ford’s green initiative which marks its 10th consecutive year of continued support to non-profit and grass-root level projects in the GCC and Levant markets.. ..“During the past 10 years, the Ford Grants have funded and helped materialize and expand over 100 projects, and it gives us immense pride when we realize the impact this program has had in the region’s communities. We are thrilled to have had this opportunity to demonstrate yet again, Ford Motor Company’s commitment to giving back to the local communities where we serve our customers,” Galan added.." [more]

Sheikh Yamani: Saudi Arabia Unlikely to Embrace Oil Futures [May 29]
"In an interview this week, former Saudi oil minister Sheikh Yamani told Energy Risk that futures trading on exchanges had turned the global crude oil market into a 'casino'. He said it was unlikely that Saudi Arabia would ever follow the example of Oman and Dubai and price its oil from contracts traded on the Dubai Mercantile Exchange, due to the perceived influence of speculators. 'Unfortunately major banks, insurance companies and hedge funds are making huge profits and losses in this casino,' he said, referring to oil futures markets globally. He added that any exchange in the Middle East would need support from all major producers in the region, including Saudi Arabia, Kuwait, Iran and Qatar, to create a truly representative price. 'It has to be sold jointly, he said.." [more]

~~~~~~~~ [ May 28]~~~~~~~~~

OPEC Leaves Output Unchanged, Saudi Oil Minister Says [May 28]
"OPEC agreed Thursday to keep its production quotas steady, as expected, Saudi Arabian oil minister Ali Naimi said. The simple calculus: the group's big oil production cuts in past months are starting to bite, and oil prices are at a six-month high. 'It's a great decision; we stayed the course,' Mr. Naimi told reporters. 'The price is good, the market is in good shape and the recovery is under way, so what else would we want? The world is going to be a better place pretty soon.' Taking additional barrels off the market would risk jamming consumers with higher energy costs when the global economy remains fragile. It's the second time in as many months that the Organization of Petroleum Exporting Countries has opted to maintain the group's existing output ceiling.." [more]

Islamic Ministers Urged to Bridge Differences [May 28]
"Islamic Ministers of Endowments agreed to set aside the doctrinal differences among Muslims and avoid criticising religious beliefs of the other sects.  The Ministers, who concluded their eighth conference in Jeddah on Tuesday, issued a number of recommendations urging that the gaps between the various Islamic sects and doctrines be bridged. The recommendations were issued after debates and discussions aimed at eradicating religious extremism which make some Muslim sects depict the others as non-Muslims. The most important recommendation was that the different doctrines of Muslim people must be recognised.."  [more]

Danube Plans to Invest Dh80m in Saudi Arabian Mega Projects [May 28]
"Danube Building Materials, a company dealing in construction, building materials and shop fitting industries, has announced plans to invest Dh80 million in Saudi Arabia this year. The investment plan is a part of its efforts to support multi-billion mega projects that are expected to rise within the kingdom in the next few years. This is expected to result in a stronger presence for the company, thereby allowing it to address the demand spurred by the construction of over two million new housing units that are expected to solve the housing shortage in Saudi Arabia under the government's 8th Development Plan. The company's investment in the kingdom is a continuation of its expanding presence in the GCC, which currently comprises 14 branches in the UAE, two in Oman and one in Bahrain.." [more]

Need for Database on Terror Stressed [May 28]
"Saudi Arabia’s initiative to set up an international center to combat global terrorism, which was suggested at an international conference on terrorism held in Riyadh 2005, has been reconfirmed and reinforced at a pan-Arab scientific symposium at Qassim University yesterday. The symposium was organized by Naif Arab University for Security Sciences in cooperation with Qassim University with the support of Qassim Gov. Prince Faisal bin Bandar. The suggested center should build an international database to fight terrorism and urge all countries of the world to exchange information, Maj. Gen. Hasan Al-Shehri, the scientific supervisor of the symposium, said while announcing the recommendations of the symposium. Prince Faisal lauded the role played by the Kingdom to fight terrorism. 'The Kingdom was successful in fighting terrorism and ending terrorist acts,' he said, adding that security is a common responsibility between all citizens and security men.." [more]

Why Did Obama Add Saudi Arabia to his Itinerary? [May 28]
"The Arab media is buzzing today over the announcement that President Obama will travel to Riyadh before arriving in Cairo for his big address to the Islamic world. Why the late addition to his itinerary? The first wave of response was a pure reflection of endemic inter-Arab rivalries. The Saudis and their advocates are exultant, the Egyptians seem a bit deflated and defensive, and the 'resistance camp' is alternately complaining about the concentration on the usual 'Axis of Sunni Dictators'.. ..With the Saudis now the American President's first port of call, the Egyptian claim to renewed leadership is weaker. After that inter-Arab rivalry business, Arabs are trying to puzzle out the greater political significance of the trip. One group sees it as tied closely to the Israeli-Palestinian track, focusing on the Arab Peace Initiative and the coming unveiling of the Obama approach to Israeli-Arab relations. Another sees it as tied more closely to Iran, preparing the Saudis for the coming engagement (or confrontation) with Tehran.." [more]

No More Gestures to Saudis: Iraq's Maliki [May 28]
"Saudi-Iraqi relations are at a low ebb and Baghdad has no intention of making goodwill gestures because Riyadh sees them as a sign of weakness, Prime Minister Nuri al-Maliki said on Thursday. Ties have been strained since the US-led invasion of 2003 toppled dictator Saddam Hussein and ended 1,400 years of Sunni Arab domination of Shiite-majority Iraq. Maliki's Shiite-led government accuses Riyadh of not doing enough to stop its citizens crossing the border and joining the mainly-Sunni insurgency that has killed thousands of Iraqis in the past six years. 'Iraq has no intention of making new goodwill gestures towards Saudi Arabia because my initiative has been interpreted in Riyadh as a sign of weakness,'.." [more]

~~~~~~~~ [ May 27]~~~~~~~~~

Saudi Arabia Says No Need for OPEC Production Cuts [May 27]
"OPEC doesn’t need to cut oil production more because there are signs of recovering demand, Saudi Arabian Oil Minister Ali al-Naimi said. OPEC should meet existing cutbacks to boost prices, Angola’s minister said. 'There is no need to cut production,' and members should 'stay the course,' al-Naimi told reporters today during a morning walk in Vienna, where the Organization of Petroleum Exporting Countries will meet tomorrow to decide whether to alter output quotas. The Saudi minister said oil prices are likely to rise to about $75 a barrel by year’s end because there are signs of a recovery in demand in Asia, though not in the U.S. or Europe.." [more]

Moody's Upbeat on Saudi Banking Sector [May 27]
"A financial analyst has dismissed reports that Saudi Arabia’s banking sector is in crisis, insisting the industry is profitable and well capitalised. Speaking to Arabian Business on Wednesday, Constantinos Kypreos, an analyst from corporate finance firm Moody’s, said the industry was in better shape than most banking sectors around the globe. 'The government has prudently invested its oil revenue windfalls in the past few years, so it has strengthened its financials and is in a position to have this expansionary budget, which will help the economy and banking sector,' he said. 'The [banking] regulator has been prudent in requiring the banks to have a good asset quality and liquidity.'.." [more]

Saudi King Says Gulf Will Resolve Disputes [May 27]
"Gulf countries will review their deal on regional monetary union and will seek to resolve disputes prior to its implementation, Saudi Arabia's King Abdullah Bin Abdul Aziz was reported as saying on Tuesday. The comments come less than a week after the UAE broke ranks with four other Gulf states by withdrawing from the single currency plan in protest at a May 5 decision to base the joint central bank in Riyadh. King Abdullah did not specify what terms of a monetary union deal would be reviewed, in the remarks carried by Kuwait-based newspaper Al Seyyasah. 'The coming review before the implementation would resolve what had been disputed upon,'.." [more]

Saudi Arabia Investor Confidence Index Rises [May 27]
"Saudi Arabia saw an increase in investor confidence in May with the Saudi Arabia Investor Confidence Index seeing a significant rise of 8.1 points, moving to 140.1 points from 132 points in April, the second monthly GCC Investor Sentiment Report of SHUAA Capital, the region’s leading financial services institution, said on Tuesday. This compares well to the GCC confidence index which saw a more modest increase of 2.7 points to 112 points from 109.3 points in April. 'Saudi Arabia is expected by investors to see further improvement in economic conditions over the next six months. 67.6 percent of the respondents signalled that they expected an improvement in economic conditions in the Kingdom, up by over 15 percent on last month. Just 7 percent of investors questioned, expect the Kingdom’s economy to be negatively affected,'.." [more]

Sanaa Meet to Evaluate Tourism in Arab States [May 27]
"An official delegation led by Prince Sultan bin Salman, chairman of the Saudi Commission for Tourism and Antiquities (SCTA), will attend a high-profile meeting of Arab tourism ministers that starts in the Yemeni capital Sanaa today. The two-day meeting of the Arab Ministerial Council for Tourism (AMCT) will discuss plans of action for promoting tourism among Arab countries, which are witnessing a surge in tourism traffic this year. 'The AMCT session will also evaluate the performance of the tourism sector in Arab countries,' said Prince Sultan in a statement yesterday. He said the meeting would review decisions of the previous AMCT rounds, including the announcement by the council of a prize for tourism quality. Prince Sultan affirmed the importance of enhancing joint Arab work in the field of tourism.." [more]

Saudi Arabia: Religious Police Want Cameras to Monitor Youth [May 27]
"Saudi Arabia's religious police want to install surveillance cameras in shopping centres throughout the country in order to watch young people. 'We will place surveillance cameras in all shopping centres and public places to monitor the behaviour of young people, said General Abdel Aziz al-Hamin, chief of the committee for the promotion of virtue and the prevention of vice, quoted by Saudi daily Okaz on Wednesday. 'Our objective is to correct the mistakes made by some youths, in order to protect their moral integrity,' said al-Hamin. However, Saudi Arabia's religious police have been accused by many Saudis of violating young people's privacy by providing the media with the names of those who are caught engaging in behaviour considered in breach of Islamic Sharia law. Their names are then published in Saudi newspapers. Al-Hamin, however, has denied the claims and said he never handed over the names of anyone to the media.." [more]

~~~~~~~~ [ May 26]~~~~~~~~~

Obama To Visit Saudi Arabia Next Week [May 26]
"President Obama will travel to Saudi Arabia next week where he will meet with Saudi King Abdullah, White House spokesman Robert Gibbs announced today. The meeting will take place on June 3rd in Riyadh Gibbs said the two leaders will 'discuss a range of important issues, including Middle East peace, Iran, and terrorism.' The Saudi stop has been added to the president's previously planned trip to Egypt, Germany and France.  Mr. Obama plans to address U.S.-Muslim relations in Egypt, visit the Buchenwald concentration camp in Germany, and mark the 65th anniversary of D-Day in France. The stop in Riyadh will come at the beginning of the trip.."  [more]

Saudi Crown Prince Recovered, Back in 6 Weeks - King [May 26]
" Saudi Arabia's Crown Prince Sultan has recovered from surgery and will return home within six weeks, King Abdullah was quoted as saying on Tuesday. State media said in April Prince Sultan arrived in Morocco for 'rest and recreation' after undergoing treatment in the United States, including unspecified surgery in February. 'The crown prince is in good health, thanks to God the Almighty has cured Sultan after he went for treatment,' King Abdullah told the Kuwaiti newspaper al-Seyassah. 'He was, still is and will be our best helper and right hand in taking care of citizens and pilgrims and we look forward to his return in the next six weeks.' Prince Sultan went to the United States for medical tests in November, then to Morocco for a prescribed convalescence before flying back to New York.." [more]

Shots Fired at Minibus in Saudi, No One Hurt [May 26]
"Gunmen opened fire on a minibus carrying foreigners in the industrial region of Jubail in eastern Saudi Arabia on Tuesday, but no one was injured, a Saudi Interior Ministry spokesman said.. ..Jubail is home to a large industrial zone comprising heavy industries such as petrochemical plants, many of which are owned by state-controlled Saudi Basic Industries Corp (SABIC). Al Qaeda staged an unsuccessful campaign of violence including suicide attacks on foreign residential compounds, oil installations and government buildings to destabilize the Gulf Arab country from 2003 to 2006. Since then there have been some isolated attacks on foreigners in the kingdom. Three French expatriates working in Saudi Arabia were shot dead during a desert trip in 2007, the last major attack.." [more]

Saudi Arabia Aims to Pass Law Controlling Electronic Media [May 26]
"The Saudi Ministry of Information and other government bodies are studying the possibility of issuing special regulations to control electronic newspapers. The move came in the wake of a protest staged by a number of Saudi female journalists against a report published in an electronic newspaper allegedly defaming Saudi women. According to informed sources, the new regulations will include several controls including that all Saudi electronic newspapers and websites must obtain official permits from the Ministry of Information, and that owners of the newspapers and the chief editors must put their names on the front pages.." [more]

Rights Group Report Ignores Islamic Law [May 26]
"A prominent Saudi human rights activist has described the Human Rights Watch report on the rights situation in Saudi Arabia as contradicting the truth in some of its items and does not take into account in many cases the religious background of the people of Saudi Arabia. In a statement to Gulf News, Dr Mufleh Al Qahtani, Chairman of the National Society for Human Rights in Saudi Arabia, said, 'It is quite clear that the writers of such reports ignore the religious side and the beliefs of the people, a matter which makes their reports subject to criticism from governments and people of the respective countries'.. ..'What the Western societies consider a basic right and essential aspect of freedom may be seen by us Muslims as a punishable offence by law. An example of this is the view of Western society towards the rights of homosexuals, adulterers and other offenders of the moral values in general,' he said.." [more]

Saudi Private Sector to Spend $20b on New Medical Projects [May 26]
"Amid an expected exponential growth in demand in health care services in Saudi Arabia, the Kingdom’s private sector is forecast to spend $20 billion by 2016 on new medical facilities and services, Dr. Mazen Fakeeh, director-general of Dr. Soliman Fakeeh Hospital (DSFH) said on Monday at a function to celebrate the 30th year of the hospital founding.. ..Three major factors drive the upsurge in health care demand in the region, namely population growth, an aging population and unique health risks. Consultants MsCkinsey & Co. forecast earlier that the total health care spending in the Gulf Cooperation Council (GCC) countries will each $60 billion by 2025. 'No other region in the world faces such rapid growth in demand,'.." [more]

Insurance Stocks Send TASI Plunging [May 26]
"The Saudi stock market closed lower for the second successive session yesterday as shares in insurance companies plunged and blue chips retreated amid region-wide profit-taking. The Tadawul All-Share Index (TASI) closed below 6,000 points after plunging 2.28 percent or 138.07 points at 5,914.23, its second straight decline since hitting a 30-week closing high on Saturday. Almost all market sectors contributed to this loss, except the Media sector, which managed to close with a gain of 1.23 percent. Otherwise, sector losses ranged from a strong drop of 7.33 percent in the Insurance sector to 0.14 percent in the Real Estate development sector.. ..The TASI’s drop of 2.28 percent is ‘normal’ and past due after the series of strong gains that pushed most of the listed companies to strong resistance levels that were difficult to overcome due to a lack of supportive news.." [more]

British Airways Resumes Flights From June 1 [May 26]
"After a four-year hiatus, British Airways (BA) — the UK’s flagship carrier — will next week mark its return to Saudi Arabia with five weekly flights to both Riyadh and Jeddah from its base of operations at London Heathrow’s Terminal 5. The resumption of operations in the Kingdom form the core of the airline’s Middle East expansion strategy, with the Riyadh and Jeddah services taking BA’s regional summer schedule to 66 weekly flights from eight GCC destinations, a 35 percent increase on the same period last year.." [more]

~~~~~~~~ [ May 25]~~~~~~~~~

Saudi Oil Min: Price Spike In 3 Yrs If Investment Lags [May 25]
"The world may witness a new crude oil price spike in two to three years - potentially worst than a peak of $147 a barrel seen last year - if oil producers don't invest enough, Saudi Arabia's oil minister said Monday. The world's largest oil producer is the latest to warn about the risk associated to under-investment after the International Energy Agency, which represents energy consumers, voiced similar concerns. Speaking at a G8 Energy ministers summit in Rome, Saudi oil minister Ali Al-Naimi said his country is 'continuing to invest now in both the upstream and downstream to help ensure an uninterrupted supply of energy when the global economy recovers.' But 'if others do not begin to invest similarly in new capacity expansion projects, we could see within two to three years another price spike similar to or worse than we witnessed in 2008,'.." [more]

Expatriates Number 10 Million by End of 2008 [May 25]
"The number of expatriates living in the Kingdom reached 10 million by the end of 2008, an increase of 14 percent from the previous year. Expatriates now represent 27 percent of the country’s population. Abdul Wahid Al-Humaid, Deputy Minister of Labor, giving the figures at a meeting to discuss Saudization at Riyadh’s Literary Club Sunday, said that the number of domestic workers of both sexes had increased by 23 percent over a year to a 1.2 million. Expatriate remittances abroad, Al-Humaid said, were recorded at SR60 billion in 2007.. ..In 2003 the Saudi Manpower Council mandated that the number of foreign workers and their families should not exceed 20 percent of the total population by 2013, and that the number of persons from any single nationality should not exceed 10 percent of the total expat population. But only five percent total Saudiization could be achieved between 1998 and 2003.." [more]

Indian, Saudi Navies to Tackle Piracy Issue [May 25]
" The PassEx – Passage Exercise – that the two visiting Indian naval ships, INS Aditya, and INS Delhi, will conduct with the Royal Saudi Navy (RSN) on Monday acquire an added significance in view of the piracy situation in the region, according to Rear Admiral S.P.S. Cheema, Flag Officer Commanding Western Fleet. Answering a question during a press conference on board the INS Aditya on Saturday, that in view of the increasing problem of piracy in the region, was there any difference in the role of the navy, and whether any special measures were planned between the two navies.. ..'That is why PassEx becomes more critical because we need to understand how to operate with each other. When we understand this then during a chance encounter, we can mutually support each other, help each other towards thwarting any piracy,'.." [more]

Saudi-Swiss Talks Focus on ME Peace [May 25]
"Talks between Custodian of the Two Holy Mosques King Abdullah and Swiss President Hans-Rudolf Merz yesterday focused on the Middle East peace process and security concerns with special reference to the global financial crisis. 'The talks will be followed by official-level consultations later to boost cooperation in different fields,” said Tanja Kocher, a spokeswoman who is traveling with the Swiss president. “Switzerland, which is keen to see peace in the Middle East, is a neutral country and not part of any alliance.. .. the Swiss president has made it clear that it was part of his country’s tradition to offer mediation services.'.." [more]

Virtue Commission’s Defamation Move Raises Eyebrows [May 25]
"The recent move by the Commission for the Promotion of Virtue and the Prevention of Vice to seek judicial action against those who defame them has evoked a fiery response from Saudi legal experts, who say journalists have the legal right to report news and that members of all government bodies are open to criticism as long as it is supported with evidence. The legal experts also say that the only government body that can question journalists is the Journalist Violations Committee of the Ministry of Information. It is unclear whether the commission’s decision to seek legal action against media outlets includes coverage in the international media.." [more]

GCC Mutual Fund Industry to Reach $200 Billion by 2012 [May 25]
"With high growth prospects in the asset-management industry, the GCC mutual fund industry is expected to double in size to around $200 billion by 2012, according to Securities and Investment Company (SICO), the Bahrain-based regionally focused investment bank. 'The long-term prospects for the regional asset-management industry remain positive,' SICO said in a report released yesterday. 'The estimated size of the GCC asset management industry is around $90-100 billion of which GCC equities account for around $10-20 billion. According to estimates, the GCC mutual fund industry is expected to double in size to around $200 billion by 2012,'.. ..The report added that the market is still in its infancy.." [more]

Saudi Tuwairqi Sees Fast End to Steel Export Ban [May 25]
"Al-Tuwairqi Group, which owns one of Saudi Arabia's top three steel makers, said on Monday it expects the government before the end of July to end a ban on steel exports that has hurt profitability in the industry. 'Currently, negotiations for reviewing the ban are taking place on a very high level and hopefully it will be lifted in one to two months' time,'.. ..The ban, which was enforced at peak prices, has hurt the margins of steel makers in the kingdom as its implementation was almost immediately followed by a rapid slide in global commodity prices on the back of the economic slowdown. 'Saudi Arabia will soon shift from being an importing country of metals to an exporting one. That is why the government wants to lift the ban,' he said.." [more]

Saudi Car Imports Brace for Tough 2009 [May 25]
"Saudi Arabia, one of the Middle East's biggest car markets, could see the first drop in car imports in 10 years in 2009 as a crisis hits the oil-based economy, analysts and traders said. The industry, whose 2008 sales accounted for about 3 percent of the biggest Arab economy's gross domestic product (GDP), is cutting costs by freezing new recruitment, while banks are making access to financing harder, industry experts said. Global auto makers hope Gulf Arab countries will show relative resilience to the global downturn hitting the industry: the Saudi government has boosted spending to counter the effects of the crisis, but the private sector is widely expected to suffer, mainly from greater caution by banks towards lending.." [more]

~~~~~~~~ [ May 24]~~~~~~~~~

Prince Saud Urges US to Pressure Israel [May 24]
"Foreign Minister Prince Saud Al-Faisal has urged the new US administration to pressure Israel to reach peace by granting the just rights of the Palestinian people. Addressing a foreign ministers’ meeting of the Organization of the Islamic Conference here Saturday, he called on Arab countries and the Palestinians to unite in confronting the challenges they face at the hands of the Israeli enemy. 'The Arab League is exerting efforts to criminalize Israel for the crimes it committed during its aggression in the Gaza Strip and to stop the hostilities practiced against the Palestinian people, especially in the city of occupied Al-Quds,' Prince Saud said.. ..Syrian leader said that Israel poses the “greatest obstacle” to Mideast peace and warned that a failure of negotiations would open the way for more resistance in occupied lands. He said peace must include regaining Arab territories held by Israel.." [more]

Saudi Arabia Sees $75 Oil Which Would Kill An Economic Recovery [May 24]
"Saudi Arabia’s oil minister expects oil to move back to $75, about 22% higher than it is now. He also expects that OPEC will not have to cut production for crude prices to rise. Demand is already strong in Asia, Saudi Arabian oil minister Ali al- Naimi is reported by Reuters as saying. He believes that the increasing need for oil in other large industrial nations will rise as the global economy recovers. The Saudi formula may work, but only if the move up in crude prices trails GDP improvements. If crude move to $75 due to speculation or an increasing need for oil in China and India, it could ruin a recovery in the US, EU, UK, and Japan. Consumer and business demand would be severely undermined if a greater percent of every dollar of income has to go to oil and gas.. ..Low oil prices have played a part in keeping the recession from getting worse.." [more]

Venezuela Vows to Beef Up Saudi Diplomats’ Security [May 24]
"Venezuela is doing all it can to arrest and punish criminals who kidnapped, beat and held to ransom two Saudi diplomats in Caracas, the country’s embassy in Riyadh said yesterday. Saudi diplomat Ali Al-Qahtani was kidnapped and repeatedly beaten before being released after intervention by the Saudi Embassy in Caracas. A few days later, Heilan bin Labda, another Saudi official, was also kidnapped from his home. Labda was tortured brutally, and burned on the face and other parts of his body with a hot iron bar. Faris bin Hizam, a journalist who met Labda after he returned home, said the Venezuelan authorities have failed to take action, and that the case was remotely mentioned in the Venezuelan media. Hizam said authorities in Venezuela claim the incidents are part of a drug war. The Venezuelan Embassy in Riyadh, however, said the Caracas government was doing its best to address the issue.." [more]

Saudi Kosovo Proposal Fails at OIC [May 24]
" A draft resolution tabled by Saudi Arabia, calling for recognition of Kosovo, has been rejected at the OIC meeting in Damascus, Syria. The draft was presented during the Organization of the Islamic Conference (OIC) ministerial gathering. But Serbian FM Vuk Jeremić stated today that Syria, Egypt, Azerbaijan and some other member states submitted amendments to the resolution, so that the text does not call for Kosovo Albanian unilateral declaration of independence to be recognized, nor does it mention Kosovo's 'statehood'.. .. Saudi Arabia, a very strong and one of the most influential Islamic countries was on the one side, he said, while on the other are Iran, Syria, Algeria and Egypt.." [more]

Saudi Grand Mufti Blames Curricula for Deviant Thoughts Among Youngsters [May 24]
"Shaikh Abdul Aziz Bin Abdullah Al Shaikh, Grand Mufti of Saudi Arabia, has described the curricula in the Muslim world as the main reason for the spread of deviant thoughts and called for immediate action from relevant authorities to correct the 'unacceptable situation'. 'Shortcomings in some of the curricula in the Islamic world lead to the promotion of intellectual deviations in the mind of the public, which requires an immediate intervention to find out crucial solutions and correct the confusions caused by these shortcomings,' he said. Addressing the opening session of the Eighth Conference of the Ministers of Endowments and Islamic Affairs in the Islamic world, he also attributed the deviation to the uncontrolled TV stations and internet as well as the extremism of some religious men.." [more]

Swiss and Saudis Ink Double-Taxation Accord [May 24]
"Swiss and Saudi Arabian officials have initialled the first double-taxation treaty that eases portions of Switzerland's banking secrecy laws.  During a state visit to the Middle East, Hans-Rudolf Merz, the Swiss finance minister, said the countries had also moved closer to concluding a free trade agreement and bilateral air-traffic accords. Earlier on Sunday the finance ministry confirmed reports that Switzerland was ready to sign two tax accords that met standards set by the Organisation for Economic Co-operation and Development (OECD). Officials would not name the other country with which they had made an agreement.." [more]

Indian Warships Arrive in Jeddah on a Goodwill Mission [May 24]
"Two stately Indian ships pulled in at the Jeddah Islamic Port Friday on a goodwill visit with the aim to engage 'extensively with the Royal Saudi Naval Force during their three-day stay here.' The two warships, INS Delhi and Aditya, are part of Indian Navy’s overseas deployment to Russia, Europe, the Mediterranean Sea and the Red Sea. Stimulated by the warm welcome accorded to them by the Royal Saudi Naval and the port authorities, the Indian fleet commander, Rear Admiral S.P.S. Cheema, AVSM, NM, observed that the navy was a good instrument of international diplomacy. Addressing a press conference Saturday, Cheema outlined the purpose of such friendly visits. They are, he stressed, an exercise aimed at 'promoting greater interoperability and foster synergy between the two navies by mutual interaction in the practical aspects of seamanship, ship handling and various other naval evolutions.'.." [more]

US Official Urges OPEC to Stabilize Oil as IEA Warns of Higher Prices [May 24]
"US Energy Secretary Steven Chu wants OPEC to carry out an oil production policy that will help keep oil and gasoline prices stable 'as much as possible.' 'Sudden drops and sudden rises (in oil and gasoline prices) hurt everybody equally, and it’s that stability that we seek,' Chu told Reuters in an interview on Friday as he prepares to leave for Rome this weekend to meet with energy ministers from the Group of Eight (G-8) industrialized countries. Chu noted that US oil and gasoline prices 'have gone up a bit' in recent weeks, with crude rising $10 a barrel and gasoline jumping 23 cents a gallon since the beginning of the month. 'Another price spike would be bad for the economy and they (OPEC members) know it,' he said.." [more]

May 17-May 23, 2009

~~~~~~~~ [ May 23]~~~~~~~~~

Ghost Towns in Saudi Seismic Zone as Evacuations Continue [May 23]
"The smell of sulphur lingers in the air and the streets wear a deserted look in the quake-hit villages of Al Ais and Umluj in Madinah region. Civil defence teams and ambulances remain in the area, urging any remaining inhabitants to exercise every precaution. Where there are people to be seen, the sound of wailing sirens can be heard over the commotion of people in various states of panic. Saudi authorities have urged people in the region to evacuate their villages after tremors measuring 5.5 on the Richter scale were registered in Al Ais area.. ..The governor of Tabuk pointed out that the evacuated people had been given the option to settle in the camps set up for them in safe places away from the tremor-hit areas or to move to fully equipped apartments in Tabuk and other provinces.." [more]

Saudis Endorse ICDL as Key Employment Norm [May 23]
"Saudi government departments and the private sector have recently endorsed International Computer Driving Licence (ICDL) certification as a major criterion for employment. The ICDL initiatives are designed to boost the IT expertise of the local workforce and increase the number of qualified Saudi nationals in the IT sector. The move comes as part of a long-term strategy to support the Saudization program. ICDL complements Saudi Arabia’s Saudization program as IT skills and knowledge have become increasingly important factors in the growth strategies of various business organizations and in the government's goal of consolidating Saudi's status as a key growth economy in the Middle East. This has prompted a government-led campaign to enhance the IT competency of nationals and encourage them to participate in ICDL programs.." [more]

Rights Awareness Program Under Way [May 23]
"The head of the National Society for Human Rights (NSHR), Mufleh Al-Qahtani, said a committee is currently organizing a seminar to raise awareness of human rights and include the topic in the school curriculum. The NSHR recently held a seminar to increase awareness of the rights of retirees. Al-Qahtani said recommendations made at the seminar would be sent to the higher authorities. He said that knowledge about individual’s rights is still low among officials and members of the public and that responses from some government departments to the NSHR activities are improving, but are still below the desired level.." [more]

Tadawul Witnesses Violent Fluctuations [May 23]
"Arab stock markets kept their upward thrust last week, buoyed by rising oil prices and the flow of fresh liquidity to regional markets as investors appeared upbeat over indicators that the world recession could be bottoming out, financial analysts said yesterday.. ..The Saudi stock exchange witnessed violent fluctuations last week which analysts attributed to profit-taking moves that took place after weeks of strong gains. The market was led by both down and up by the petrochemical conglomerate, the Saudi Basic Industries Corp. (SABIC). The Tadawul All-Share Index (TASI) gained 0.1 percent last week, closing at 6,052.63 points. TASI is currently 26 percent higher than the year’s start, according to the weekly report of the Riyadh-based Bakheet Investment Group (BIG). 'We expect the market to remain volatile within a narrow band this week reflecting the movement of oil prices and performance at global markets,'.." [more]

Judicial Reforms in the Works [May 23]
"Saudi Arabia intends to develop its judicial system by making use of the experiences of the American, British, French, Malaysian and Jordanian legal systems, said Omar Al-Suwailem, director of the project for the development of the judicial system and its facilities. 'We have selected a number of international judicial systems in order to adopt their best practices while formulating the Kingdom’s strategic plan for judicial development,' Al-Madinah Arabic daily quoted Al-Suwailem as saying in its report yesterday.. ..A team has already conducted a survey of the Kingdom’s existing judicial system to identify shortcomings and make proposals for improvement. At present, there are 266 Shariah courts in the Kingdom with 1,600 judges, but the country requires more than 4,000 judges. A judge looks into 1,184 cases annually and Saudi courts looked into 691,938 cases in 2007.." [more]

~~~~~~~~ [ May 22]~~~~~~~~~

Sumitomo Suspends Saudi Power, Desalination Plans [May 22]
"Japan's Sumitomo Corp (8053.T) said it has put on hold its consortium's plans for a $6 billion power and water desalination plant in Saudi Arabia after the Saudi government said the plant was no longer designated an independent project. Sumitomo's consortium had won preferential rights to build and operate the plant, which was to be capable of producing 1 million tonnes of water a day, accounting for a third of the country's total production capacity.  'We need to see what the plans for the project are before we can make a decision about whether or not we can participate,' said Sumitomo Corp spokesman Katsuhiko Onishi. 'We haven't given up necessarily. We are just back at square one.'.." [more]

Kingdom Increases IFAD Contribution Fivefold [May 22]
"Saudi Arabia announced a fivefold increase in its contribution to the International Fund for Agricultural Development (IFAD) from $10 million in 2006 to $50 million, said Kanayo F. Nwanze, the newly elected president of the UN’s specialized agency. Nwanze, accompanied with Taysir Al-Ghanem, IFAD’s Regional Communication Manager for the Near East and North Africa, and Nadim Khouri, Director, Near East and North Africa Division, was on an official visit to the Kingdom, Tuesday. 'IFAD has been seeking funds for its next three-year financial period and the Kingdom has granted a fivefold increase in its contribution from $10 million, three years ago to $50 million,'.. ..IFAD is a specialized agency of the United Nations dedicated to eradicating poverty and hunger in developing countries. Through low-interest loans and grants, it develops and finances projects that enable rural poor people to overcome poverty themselves.." [more]

Kingdom’s Industrial Investment Tops $66b [May 22]
"The volume of investments in 14 industrial parks in Saudi Arabia that are under the supervision of the Saudi Industrial Property Authority (Modon) has reached 250 billion Saudi riyals ($66.7 billion), Abha-based Al-Watan daily reported on Thursday, citing Tawfig Al-Rabiah, Modon’s director general.
The aim of Modon is to boost the contribution of the industrial sector to the kingdom’s gross domestic product to 20 percent by the hegira year 1441, Rabiah said, according to the paper. Meanwhile, the global financial crisis did not affect the adequacy of financing for infrastructure projects in Saudi Arabia, but it impacted the sources of the funds, Abha-based Al-Watan daily reported on Thursday citing Jabara Al-Seraisry. These projects are currently being financed by the government instead of partial or total funding by investors but this does not mean that the government has changed its policy towards the private sector.." [more]

Saudi-Brazil Deals Part of SAGIA Strategy [May 22]
"The recent trade agreements between Saudi Arabia and Brazil — which came with Brazilian President Luis Inacio Lula da Silva’s landmark visit to the Kingdom recently — is an example of the Saudi Arabian General Investment Authority’s (SAGIA) agenda to implement its so-called 10X10 initiative, which aims to make Saudi Arabia among the top ten most competitive nations by 2010. Lula da Silva’s visit to the Kingdom resulted in the two countries agreeing to use each other as regional trading hubs: Brazil for the Kingdom’s efforts in Latin America and Saudi Arabia for Brazil’s strategy in the Middle East and North Africa region.." [more]

US Eyes Saudi Investors in Real Estate [May 22]
"The benefits of investing in the US real estate sector were in focus at a seminar held in Jeddah on Tuesday night. 'The US real estate sector has become an attractive buy for investors in Saudi Arabia and Gulf, in the context of the recent developments brought about by global economic downturn and weak US currency,' Robert Koch, founder and chairman of the Florida-based Fugleberg Koch Inc., told a meeting attended by a large number of investors at Laylaty hall. 'In this phase, Investing in the US real estate offers a lot of opportunities, notwithstanding affordable prices, due to its incredibly sound investment policies,'.." [more]

RCCI to Host Saudi-German Trade Talks [May 22]
"The Riyadh Chamber of Commerce and Industry (RCCI) will host a high-profile meeting of Saudi and German businessmen tomorrow. A 25-member German delegation led by Secretary of State for the Ministry of Economics, Labor and Transport of Lower Saxony Stefan Kapferer will participate in this business session. 'The German delegation, which will include companies from a large spectrum of industries ranging from export and software solutions to construction and consulting will participate in the meeting before traveling to the UAE on May 24 and later to Qatar,' said Gerd Doepner, delegate of the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO), here yesterday. He added that the Deutsche Messe AG would also be represented. Deutsche Messe AG is the world’s foremost trade fair organization.." [more]

~~~~~~~~ [ May 21]~~~~~~~~~

Saudi Denies Project Funding Crisis [May 21]
"The global financial crisis did not affect the adequacy of financing for infrastructure projects in Saudi Arabia, but it impacted the sources of the funds, Abha-based Al-Watan daily reported on Thursday citing Jabara al-Seraisry, the kingdom's Minister of Transport. These projects are currently being financed by the government instead of partial or total funding by investors but this does not mean that the government has changed its policy towards the private sector.. ..A decision will be taken soon concerning the financing of the Landbridge rail project that will link the eastern region of Saudi Arabia to its western region, Seraisry said.." [more]

All Evacuated From Al-Eis [May 21]
"Civil Defense forces evacuated Tuesday night all the remaining residents of Al-Eis, some 26,000 people, after an earth tremor recording 5.39 on the Richter scale hit the town and surrounding region. Authorities closed all entrance routes coming from Madina, Yanbu and Umluj to Al-Eis town and villages in the vicinity. By Wednesday morning streets and houses in Al-Eis were deserted and police and Civil Defense authorities had departed from their stations. A Civil Defense chief in the region said that some personnel and equipment had been moved to the outskirts of the town where back-up forces were stationed, while other teams had relocated to the shelter camp on the Al-Eis to Yanbu Road.." [more]

Boeing Becomes a Founding Member of KAUST Program [May 21]
"King Abdullah University of Science and Technology (KAUST) announced on Wednesday that Boeing has become a member of the KAUST Industrial Collaboration Program (KICP). KAUST’s Interim Vice President of Economic Development Ahmad Al-Khowaiter signed an agreement with Boeing Saudi Arabia President Ahmed Jazzar that makes Boeing, the world’s leading aerospace company, a key part of the University’s economic development program. 'Companies and universities need to be innovative if they are to remain globally competitive,'.. .. 'Boeing is defined by its technological edge,' Jazzar said. 'We believe that working with KAUST’s professors and students on innovative technology research will help Boeing assimilate new ideas and innovative processes into our products and programs. This also is good for Saudi Arabia because it will help grow the capabilities of the Saudi research and development and scientific community to meet emerging needs within the Kingdom.'.." [more]

Saudi-Swiss Summit Meeting on Saturday [May 21]
"A summit meeting between King Abdullah, Custodian of the Two Holy Mosques, and Swiss President Hans-Rudolf Merz is scheduled to take place in Riyadh on Saturday for official discussions on strengthening relations between the two countries and regional and international developments. President Merz will arrive in the Kingdom on Saturday at the head of an official two-day visit by a government and commercial delegation. The Saudi-Swiss Joint Committee held a meeting in Switzerland in February of this year to discuss the strengthening of economic ties and the promotion of joint investment projects in the two countries. The Swiss president is expected during his visit to sign a number of agreements and memorandums of understanding.." [more]

Saudi Arabia to Implement Wind Power Technology [May 21]
"Local and international experts in wind technology have recommended that a large-scale wind power development programme should be established in Saudi Arabia. The recommendation emerged from the second day of the Wind Power Technology Forum which opened Saturday at the Research Center, King Fahd University of Petroleum and Minerals.. ... Organizers said that because of the increasing energy requirements in the Kingdom, particularly from the industrial sector, it is high time for the Middle East in general and Saudi Arabia in particular to embark on the utilization of wind power to cope with the pace of the nation's development.." [more]

~~~~~~~~ [ May 20]~~~~~~~~~

Gulf Unity In Tatters [May 20]
"It was set to be the Middle East's version of the euro, but the Gulf Co-operation Council's plans for a currency union looked doomed on Wednesday after the United Arab Emirates reportedly announced it would not take part.. ..The decision comes two weeks after the six-nation Gulf Co-operation Council--made up of Saudi Arabia, the U.A.E., Bahrain, Kuwait, Oman and Qatar--announced that the planned monetary council and central bank for the group would be located in the Saudi capital of Riyadh. The U.A.E. had wanted its own capital, Abu Dhabi, to house the bank, and analysts at the time worried that this snub could lead to divisions. The U.A.E.'s announcement could be a way to put added pressure on Riyadh, as the whole process is more dependent on politics than economics.." [more]

Saudi Analysts Hail Postponement of Elections [May 20]
"A number of Saudi writers and political analysts have agreed that the Saudi government’s decision to postpone the municipal elections for two years was aimed at giving more time for promotion of the democratic values among the Saudi society and for increasing participation of probable voters. The municipal elections were originally scheduled to take place later this year. In special statements to the Gulf News they stressed that postponement of the municipal elections would lead to a dynamic political and social situation in Saudi Arabia, and will represent a true beginning for the reform process led Saudi King Abdullah and Crown Prince Sultan Bin Abdul Aziz. They noted that the ongoing reform process aims to develop the Saudi community to cope with the new developments in the national and international scene.." [more]

Saudi State Funds Keep Transport Projects on Track [May 20]
"Saudi Arabia's transport minister said all transport projects in the kingdom were on track and it was using state funds to push them forward given the high cost private sector borrowing. Jebarah bin Eid al-Suraisry said on Wednesday the kingdom allocated 12 billion riyals ($3.2 billion) in its budget for some road and ports, underpinning the state's plan to keep public funds flowing into key infrastructure projects. The largest Arab economy, which expects to post a budget deficit this year, said on Tuesday it had more than doubled spending on development projects in the first quarter to 40.6 billion riyals to support the non-oil sector.." [more]

Earthquake Hits Villages in Saudi Arabia [May 20]
"Saudi Arabia's earthquake monitoring service on Wednesday urged residents in several villages in the western region to evacuate after a 5.3 earthquake hit the region. The Saudi National Center for Earthquakes and Volcanos said the earthquake did not cause damages or injuries. It residents of five villages west of the holy city of Medina to head to tent camps and shelters set up by authorities. Arab satellite new channels had reported that many have already fled the area.." [more]

Capt. Joe Grant Revisiting History [May 20]
"Capt. Jose (Joe) Grant, a recipient of the King Abdul Aziz Medal (First Class), arrived in Jeddah yesterday and will be traveling to Riyadh for an audience with Custodian of the Two Holy Mosques King Abdullah. Grant flew King Abdul Aziz in a Douglas DC3 plane that was given to the Kingdom’s founder by US President Franklin D. Roosevelt in 1945. The plane, which was luxuriously fitted with wooden trimmings and special seating, was given to King Abdul Aziz during their historic meeting on board the USS Quincy on Feb. 14, 1945, sparking the formation of the Kingdom’s national airline. 'He used to sit with me in the cockpit in the copilot’s seat sometimes' said Grant at a private lunch. 'He would quietly stroke his beard and ask me questions about the controls and the airplane. He wanted to know everything. He was a great man and a man of tremendous foresight.'  Grant stayed for a few years in the Kingdom and, with two colleagues, trained the cadre of pilots that was to become the basis for the modern Saudi Arabian Airlines.." [more]

GCC Business Outlook: Kingdom of Saudi Arabia [May 20]
"The Kingdom of Saudi Arabia is weathering the storm of the crisis thanks to gross official reserves of $431.9bn, which Riyadh amassed during the energy price boom. But while traditionally strong sectors such as oil, gas and banking face challenges, the biggest GCC country is injecting life into dormant branches. You think Western banks are scaling down their operations? Take the Big Two from Switzerland - UBS and Credit Suisse.  They are indeed cutting operations down in their home market and abroad after billions of dollars in losses due to the financial crisis. On the other hand, both financial institutions are currently building up their operations in all fields of banking in Saudi Arabia. Both banks received approval from the Capital Market Authority in Riyadh, the Saudi regulator, in July and November 2008, respectively.."  [more]

~~~~~~~~ [ May 19]~~~~~~~~~

French, German Envoys Downplay Visa Delay Issue [May 19]
"French and German ambassadors on Monday downplayed allegations of discriminatory attitudes and unreasonable delays in visa issuance to Saudis for several European and Schengen countries. Bertrand Besancenot, French Ambassador, and Volkmar Wenzel, German Ambassador, jointly addressed a press conference at the German Embassy to announce the outsourcing of visa services. Besancenot said reports in a section of the press blaming unreasonable delays in the issuance of visas to Saudi nationals were unfounded and unjustifiable. 'In fact, the wording used in the reports was outrageous and insulting to the officials working in our visa section,'.. ..The envoy said there has been a need for the improvement of visa services on both sides, and it was true that the French Embassy had discussions with the Saudi Ministry of Foreign Affairs on the issue. He did not elaborate, but said that French nationals visiting other GCC states receive visas at the airport.." [more]

British Muslim Minister to Examine Counter-Radicalisation in Saudi Arabia [May 19]
"The British Muslim Minister responsible for community cohesion Sadiq Khan is currently visiting Saudi Arabia to examine the interaction between faith and state with key decision makers in Government and faith institutions and also to learn more about the counter-radicalisation programmes being carried out in the country. His four-day visit also seeks to promote a better public understanding of the position of Muslims and Islam in the UK.." [more]

Saudi Inflation Down to 5.2% [May 19]
"Data from Saudi Arabia's Central Department of Statistics shows that the kingdom's inflation has fallen for the sixth consecutive month from 6% in March to 5.2% in April, its lowest rate since September 2007, according to Meed magazine. Food and beverage inflation was 1.6% in April, down from 2.8% in the previous month, while rental prices rose 18.8% in the most recent period, after rising 20% in March.." [more]

Swedes Show Interest in Saudi Health Sector [May 19]
"A Swedish trade delegation from the health sector which has just visited Saudi Arabia expressed optimism as far as their prospects in the local market are concerned. Accompanied by Swedish Ambassador Jan Thesleff as head of delegation, the members held talks with their counterparts in hospitals, clinics and medical centers in the Saudi capital. The delegation left yesterday after a three-day visit. 'We visited hospitals, medical centers and clinics in Riyadh which are in need of the products and services offered by the companies being represented by the delegation,' Thesleff said during the reception he hosted in honor of the delegation.." [more]

~~~~~~~~ [ May 18]~~~~~~~~~

Saudi Municipal Polls Put Off For 2 Years [May 18]
"The Saudi government has extended the mandate of municipal councils by two years, effectively postponing elections expected to have taken place later this year, the cabinet announced Monday. The Saudi cabinet decided to extend the councils' mandate for two more years from October 31, after hearing a report from the Minister of Municipal and Rural Affairs on the experience of the first municipal council elections held four years ago, according to a statement carried by SPA state news agency. The government wants to give time to 'expand the participation of citizens in the management of local affairs' and to draft new regulations for the councils toward this goal, the statement said. In 2005, Saudi Arabia held pioneering elections to select half the members of 178 municipal councils as part of a cautious process of reform; the other half remained appointed. Women were not allowed to run as candidates or to vote but the elections were considered a landmark in the highly-centralised absolute monarchy, where all government positions had been appointed.." [more]

Saudi Prince Says Militants Are a Disgrace [May 18]
" Militant Saudis who kill innocent people in terror attacks in Iraq, Pakistan and elsewhere are a disgrace to their country, a Saudi prince says.  Prince Naif bin Abdulaziz, Saudi second deputy premier and interior minister, said Monday in Riyadh he hopes to stop the spread of Islamic militancy through the media, KUNA, the Kuwait News Service, reported. The prince blamed 'propaganda and yellow journalism"' for helping to recruit Saudi youths into militant organizations and called for media reforms to protect the country's security. 'Our media, whether it is the state media or private media, should be realistic and well prepared,'.." [more]

Saudi Arabia Evacuates 5 Villages in Volcano Scare [May 18]
"Saudi authorities evacuated five western villages on Monday after tremors hit a volcanic region in the past weeks raising concerns of possible eruptions.  'There was a large quake, the largest so far,' Ahmed al-Attas, vice president of the Saudi Geological Survey (SGS), told Reuters after civil defence officials evacuated the villages near the town of al-Ais. Attas was referring to a 4.68 earthquake, which hit the region on Sunday. Al-Ais, 150 km (100 miles) northeast of the Yanbu on the Red Sea, is not close to the world's top oil exporter's oil and petrochemicals facilities. The region lies on a fault line.. ..Fears of an eruption in dormant volcanoes in al-Ais have sent panic stricken residents voluntarily fleeing to the holy city of Medina and Yanbu last week.."  [more]

Brazil Pledges Energy Cooperation [May 18]
"Brazil, which pledged 'to boost energy cooperation' with Saudi Arabia here yesterday, has declined to become a member of the Organization of Petroleum Exporting Countries (OPEC) despite the discovery of massive crude oil reserves there. 'Brazil, on the other hand, has planned to refine, not export, its crude oil,' Brazilian President Luiz Inacio Lula da Silva, who is on a landmark visit to the Kingdom, told a crowded press conference here.." [more]

Saudi Arabia to Slash Gasoline Imports by 29% in June [May 18]
"Saudi Arabia is expected to slash gasoline imports by nearly 29 percent in June, as domestic production capacity ramps up following refinery maintenance work, traders said on Monday. The world's top oil exporter will import nearly 57,000 barrels per day of gasoline in June versus 80,000 bpd in May, traders said. Saudi Arabia typically imports between 60,000 to 70,000 bpd each month, traders said, but the OPEC member had raised imports in recent months due to an outage at a 44,000 bpd hydrocracking unit at its largest refinery in Ras Tanura and planned maintenance work at its 120,000 bpd Riyadh refinery.." [more]

~~~~~~~~ [ May 17]~~~~~~~~~

Reform Sought Amid Saudi War of Succession [May 17]
"..Dozens of Saudi activists, mostly women, have petitioned King Abdullah bin Abdul Aziz with a ten point plan of radical political reforms that includes an elected Parliament and limiting the powers of the princes, at a time when the crown prince’s ill-health is reviving the war of succession in the Kingdom. The 77 petitioners, mainly human rights campaigners, stress in the petition’s seventh point, the necessity to 'add an important clause on the status of Hay’at al-Bay’a (Allegiance Commission), stipulating the participation of an elected Parliament' in the decisions of this body whose responsibilities include the appointment of the crown prince. Such participation 'will among other benefits, counter all secret and / or professed struggles (for power) and enable the people to participate in decisions, on the same basis as the reigning family', underlines the signatories of the petition, a copy of which has been sent to twenty high ranking officials, including the Crown Prince and Minister of Defence, Prince Sultan bin Abdul Aziz, and the Minister of Interior, Prince Nayef bin Abdul Aziz.." [more]

Brazilian President Meets King on Historic Visit [May 17]
"Brazilian President Luis Inacio Lula da Silva met King Abdullah, Custodian of the Two Holy Mosques, Saturday in the historic first visit by a Brazilian president to the Kingdom. The two leaders held talks and dined together at the King’s Riyadh palace, where they were to sign a number of bilateral agreements governing political, economic and cultural relations. Lula arrived earlier Saturday with a large delegation of Brazilian businessmen hoping to explore joint investment and trade opportunities between the two countries. After his arrival he met Abdurrahman Al-Attiyah, secretary general of the six-member Gulf Cooperation Council, which is seeking a free trade deal with the Latin American Mercosur trade group. One area the Saudis are looking at is investment in agriculture in Brazil as Riyadh seeks to build up food security by purchasing or leasing farmland in other countries.." [more]

Saudi Women Pioneers Brave Clerics With Ball Games [May 17]
"In red-and-white uniforms which cover all but their hands and face, Saudi women pioneers with their basketballs and footballs are puncturing strict religious taboos. Jeddah United train four times a week away from the prying eyes of men.. ..They practice together in uniforms that include white scarves covering their hair, long-sleeve shirts and full-length pants. For competitive games, they have had to travel far -- twice to Jordan and once to the United Arab Emirates. 'It's difficult, but we are pioneers,' Maina said. 'Our message is that Saudi women should be able to take part in sports, like everywhere around the world.' Even so, news of the club has drawn the hostility of conservative Muslim clerics, three of whom charged in a statement that women's clubs are 'one of the principal sources of vice and debauchery.'.." [more]

Saudi Experience to Help Arab Countries Confront Deviant Ideologies: Naif [May 17]
"Second Deputy Premier and Minister of Interior Prince Naif said yesterday that the national strategy to confront ideological deviation would set the base for an Arab strategy in this regard. 'All Arab countries face similar challenges. The Arab world needs a clear strategy to ensure intellectual security,' he said. Prince Naif stressed that deviant thoughts promote crimes. 'Therefore, the prevention of deviation in thinking should be the first step to achieve intellectual security,' he said. Identifying such deviation, whatever its direction and reasons, early enough would increase the ability to cure them, he added. 'Deviancy in thinking is like certain dangerous diseases that can be cured if we are able to diagnose and treat them properly before they reach an advanced stage,' he explained. Prince Naif expressed his hope that deviant thoughts could be stopped through proper education, dialogue, academic curricula and various informational, cultural and religious activities.." [more]

Taiwan Trade Mission Gets Orders Worth $13 Million [May 17]
"Taiwan said yesterday that it was concerned about the huge bilateral trade gap and was considering new moves to narrow it. 'We are keen on expanding our exports to Saudi Arabia,' David Wang, chief secretary of the Taipei-based Bureau of Foreign Trade of the Ministry of Economic Affairs, told Arab News on the sidelines of a business session of the 2009 Taiwan trade mission at Le Meridien Jeddah yesterday. 'Trade between Saudi Arabia and Taiwan totals $16 billion, but it has remained largely in favor of the Kingdom as our exports are only $1 billion and imports $15 billion. So our effort is to bridge this yawning gap as much as possible, which is one of the objectives of the current mission,' Wang added. In fact the Taiwanese companies are at the forefront of technological innovations in a wide specter of industries and are keen to expand their distribution network with new partners, he said.." [more]

Fall in Construction Costs Driving Progress in Economic Cities [May 17]
"A 30 to 40 percent fall in construction costs in Saudi Arabia is speeding up the development of Saudi Arabia’s Economic Cities. Although the economic downturn has lead to the shelving of a number of major projects elsewhere in the world, it has led to a significant opportunity for Saudi Arabia’s Economic Cities to develop at an increasing rate. Amr Al Dabbagh Governor of the Saudi Arabian General Investment Authority (SAGIA) said in an interview at the InterAction Council meeting held last week at the King Abdullah Economic City, 'The global economic slowdown has presented a great deal of opportunities including depressed prices of building materials and surplus capacities in construction companies, equipment and human capital. All these challenges were there six months ago but now we are talking about a cost advantage for construction between 30 and 40 percent. Now the challenge is how much we can do in 24 hours a day, seven days a week.'.." [more]

Women’s Branches Soon in Chambers of Commerce [May 17]
"Reem Al-Frayyan, Director of the General Administration of Businesswomen’s Affairs at the Council of Saudi Chambers of Commerce, has revealed that the council plans to open new female branches in various regions of the Kingdom, among them Najran. Al-Frayyan said the council was also working to improve existing women’s sections, and that the 25 chambers of commerce in the Kingdom were providing figures to reveal the number of businesswomen registered with them. Those chambers that had not yet opened female sections, she added, were being urged to do so.  According to Al-Frayyan 15 chambers currently have women’s sections or female representation, having increased from ten over the past year.."  [more]

Insurance Summit Opens Amid Very Promising Saudi Outlook [May 17]
"The state of the Saudi insurance industry will be explored and scrutinized amid the protracted global financial crisis during the four-day Saudi Insurance Summit that opens today (May 17) at the Riyadh Marriott Hotel. The slated panel discussions will focus, among others, on the effects of the global financial crisis on the worldwide insurance market and on the formation of a competitive Saudi insurance industry. Other issues like corporate risk and internal insurance management, the health of the Saudi health insurance market and a review of the regional and local reinsurance and Takaful landscape amid a changing environment will also be tackled. The Saudi insurance segment witnessed 24 percent growth between 2006 and 2007 and many new insurance companies are now operating under the Takaful licenses adopted recently in the Kingdom.." [more]

May 9-May 16, 2009

~~~~~~~~ [ May 16]~~~~~~~~~

Saudi SABIC Says Domestic Economy Helping it Cope [May 16]
"Saudi Basic Industries Corp 2010.SE (SABIC) was coping better than other petrochemical companies with a global recession because Saudi Arabia will not be as badly hit, its chairman said on Saturday. Prince Saud bin Abdullah bin Thenayan also reiterated that an oil price at $70-$75 was necessary to help the kingdom sustain investments in petrochemicals. 'The impact of the crisis is very clear while SABIC has been affected like others it's better placed than other petrochemical firms to weather the crisis due to the economics of the industry in Saudi Arabia and our business model,' Prince Saud said. He made the comments to Reuters on the sidelines of the World Economic Forum at the Dead Sea, Jordan. SABIC is the Arab world's largest company and a yardstick for the performance of global petrochemical firms. It swung to a worse-than-expected loss in the first quarter as it took a hit from a downturn in prices for petrochemicals and metals.." [more]

22% of Children in KSA Sexually Abused – Study [May 16]
"A study carried out by Dr. Ali Al-Zahrani of Edinburgh University has shown that 22 percent of children in the Kingdom are exposed to sexual abuse. According to a report in Al-Watan daily Dr. Khalid Al-Helaibi, Head of the Family Development Center and a teaching assistant at the Shariah and Islamic Studies College at Mohammad Bin Saud University, cited the study during a lecture given last week at Prince Mohammad Bin Fahd Elementary School in Hofuf, during which he challenged students to stand up in front of their colleagues, parents and teachers and tell of their experiences of attempts to sexually abuse them. Al-Helaibi spoke of the nature of children most vulnerable to sexual abuse and gave advice to parents and teachers on how to spot the signs that a child is being sexually abused. Many of them, he said, are kept quiet through blackmail.." [more]

Kingdom, Brazil to Sign Deals During Lula Visit [May 16]
"A high-level business delegation led by the Vice President of the Confederation National Industries (CNI) of Brazil Paulo Gilberto Fernandes Tigre, who is also the president of the Federation of Industries of the Rio Grande do Sul State, arrived in Riyadh. The delegation arrived a day ahead of the two-day visit by Brazil President Luiz Inلcio Lula da Silva today. The President will be accompanied by the Minister of External Relations of Brazil Celso Amorim, the Minister of Development-Industry & Foreign Trade Jiguel Jorge, Minister of Press and Media Franklin Martins and other high-ranking officials. Saudi Arabia and Brazil will sign, during the president’s visit, several agreements and memorandum of understandings such as the General Agreement on Cooperation, agreement on the cooperation on higher education, memorandum of understanding regarding political consultation, memorandum of understanding between the diplomatic institutes and agreement on cultural cooperation.." [more]

Taiwan Eyes Kingdom to Boost Exports [May 16]
"The head of the Taiwanese trade delegation currently in the Kingdom on an eight-day visit said on Wednesday night that there is great scope for an expanded bilateral trade between Taiwan and Saudi Arabia, which currently touches $15.24 billion. Sheng-Chung Lin, deputy chairman of the Taiwan External Trade Development Council (TAITRA), said he is optimistic about the trade relationship between the two countries. 'Taiwan has high-quality products which Saudi Arabia needs and looks for. Saudi Arabia is also our biggest trading partner in the Middle East,' Lin said.. ..Lin said that there’s much that Taiwan could offer to Saudi Arabia in trade and industry. Its leading exports to the Kingdom include consumer products, machinery and hardware. Acer, Taiwan’s IT hardware giant, has set up an assembly plant in the Kingdom for the production of desktop PCs in collaboration with Riyadh-based Advanced Electronics.." [more]

Saudi Policy is Vital to Enhancing the Stability of Yemen [May 16]
"..Saudi Arabia's relationship with Yemen is unlike that with any other Arab country. The two countries are joined through historical, ethnic, and tribal ties, yet neither has the means to resolve popular resentments and resistance. Saudi Arabia's traditional "soft power" foreign policy tools - lavish spending of oil money and Daawa, "the Call," are no longer effective. Building fences and sending helicopters to police the borders will not be sufficient, and the idea that jihadists can be rehabilitated is a myth. No medicine will work if, when the patient is released, he encounters the same virus: institutionalized Wahhabism. Yet there are things the Saudis can do to vaccinate themselves, and Yemen as well, from fanaticism. The tentative moves toward liberalization that King Abdullah has made over the past two years need to be accelerated, made more daring, and become more effective in removing the Wahhabi ideology as an incubator for radicalism.." [more]

~~~~~~~~ [ May 15]~~~~~~~~~

Abdullah to Patronize Int’l Media Conference [May 15]
"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 the international Afra organization. In organizing the conference, the Ministry of Culture and Information seeks to build bridges of cooperation and dialogue between media organizations in the Middle East, to create a culture of communication between media members, to promote an academic climate appropriate for the graduation of distinguished media cadres, and to benefit from global expertise and experience in the field of publishing and journalism.." [more]

Value of Kingdom’s IT Market Forecast to Rise to $5.6 Billion by 2013 [May 15]
" The value of Saudi Arabia’s IT market is expected to rise to $5.6 billion by 2013 from $3.4 billion recorded in 2008, or a CAGR (compound annual growth rate) of 11 percent. The Information Technology Report for the second quarter of 2009 showed that the Kingdom appears better placed than some other markets in the region to withstand the current global economic headwinds. Saudi Arabia’s IT market has a number of positive factors to help it avoid stagnation, including fairly resilient consumer demand, and ongoing infrastructure projects in major verticals such as oil and gas, power, education and telecoms. The report predicted that per-capita IT spending will reach $170 by 2013.." [more]

Mideast in Focus as WEF Opens Today in Jordan [May 15]
"The World Economic Forum (WEF) opens a conference on the Middle East at the eastern shore of the Dead Sea today, with the participation of about 1,300 political, business and civil community leaders from 80 countries. The three-day conference, to be opened by King Abdallah of Jordan, will be held under the title: 'Implications of the Global Economic Crisis for the Middle East: Home-Grown Strategies for Success.' 'The Middle East’s aspirations for prosperity will be challenged as it attempts to restore its own growth while navigating a complex geopolitical landscape,' organizers said.. ..Analysts have estimated the losses incurred by Arab sovereign funds and stock markets, especially those in the Gulf at more than $1 trillion as a result of global economic downturn.." [more]

Oil Demand Seen Dropping at Fastest Pace Since 1981 [May 15]
"Oil consumption will this year fall at the sharpest pace since 1981 due to the crisis afflicting world economies, the International Energy Agency (IEA) said Thursday as it made new cuts to its forecast for crude demand. In its closely watched monthly survey, the Paris-based agency said it now expects global oil demand to fall 3 percent to 83.2 million barrels a day this year, or 2.6 million barrels a day less than in 2008. That is the ninth consecutive monthly cut the IEA has made to its oil demand forecast since last August, when the IEA had forecast oil demand would reach 87.8 million barrels a day in 2009. Oil futures ended mixed Thursday as a cautious market digested news of a cut in energy demand forecast by the IEA amid economic downturn.." [more]

~~~~~~~~ [ May 14]~~~~~~~~~

Saudi Activists Petition King for Reforms [May 14]
"A group of Saudi human rights and opposition activists have sent King Abdullah a petition to ask for more political and judicial reforms and fair trials for suspected al Qaeda militants. Saudi Arabia, the world's top oil exporter and a firm U.S. ally, is an absolute monarchy without an elected parliament or political parties. Its courts are run by clerics who apply an austere version of Sunni Muslim Islamic law. 'We request his majesty to implement his promised reform initiatives by establishing a modern state built on democracy, justice, dignity, equality, tolerance, pluralism and citizens' rights,' said the statement signed by 77 activists, according to a copy sent to Reuters on Thursday. The group, comprising human rights activists, writers and academics, demanded that trials against 991 suspected al Qaeda militants be fair and public, not held in secret.." [more]

Saudi Sees Oil's Rise Unrelated to Demand [May 14]
"Top oil exporter Saudi Arabia sees factors other than demand behind oil's rise this week to $60 a barrel, Saudi-owned newspaper al-Hayat reported on Thursday.  'The Saudis said that the recent rise in oil prices does not reflect the reality of demand,' al-Hayat said, citing French sources after French Economy Minister Christine Lagarde met Saudi King Abdullah and his Oil Minister Ali al-Naimi on Sunday. The Saudis said factors other than oil market fundamentals had affected the price, al-Hayat reported the sources as saying. U.S. crude traded around $57.50 a barrel on Thursday, after hitting a six-month high of $60 a barrel on Tuesday. Oil has risen 75 percent from a January low of $32.70 a barrel despite rising inventories and weak demand.."  [more]

CIU Backs King’s Peace Push [May 14]
"The Council for International Understanding (CIU) that includes more than 30 world statesmen Wednesday underscored religious tolerance as among the most important issues of the 21st century, recognized Saudi Arabia as one of the few moderate countries in the region and endorsed the 2002 initiative by King Abdullah, Custodian of the Two Holy Mosques, for peace in the Middle East. The concluding statement of the three-day 27th annual meeting of the CIU held at King Abdullah Economic City also welcomed the reform proposals initiated by King Abdullah and his endeavors to promote dialogue among followers of religions, as evidenced by last year’s conferences in Madrid, Spain, and the United Nations in New York.." [more]

Singapore Woos Saudi Visitors With its Latest Tourism Offerings [May 14]
"Saudi Arabia has emerged as a top tourism market for Singapore, following a 23 percent increase in visitor arrivals to the city-state in the first quarter of 2009 compared to 2008 figures. Arrivals from the Middle East and Africa region expanded 5 percent in the period. Singapore continues to attract record numbers of Middle East visitors with 30,000 visitors arriving in the first quarter of 2009, representing a five percent increase over 2008. Visitors from UAE grew 10 percent in the said period. In a two-day roadshow in the Kingdom to promote “Fabulous Singapore Stopover” package under the “Uniquely Singapore” 2009 campaign slogan, the Singapore Tourism Board (STB), together with Singapore’s leading travel and tourism companies, offer fascinating opportunities for tourists.." [more]

Time Up for Debate Over Women in Workplace: Princess Loulwah [May 14]
"Princess Loulwah Al-Faisal, vice president of the board of trustees and general supervisor of Effat College, said that women have demonstrated both their business acumen and abilities, and that the time for debate over women in the workplace has past. She made these remarks on Tuesday night to a crowd of more than 400 women gathered for the second annual Women’s Economic Forum at the Asharqia Chamber for Businesswomen. The two-day conference, the theme of which was “Women as Partners in Development,” examined women’s current and future role in the Kingdom’s economic development as well as other Gulf Cooperation Council (GCC) member states. The forum covered topics from women’s traditional investment plans and economic priorities to obstacles facing women and the necessity of overcoming them. 'The role of women has changed dramatically recently — side-by-side with global and regional social, economic and political developments,'.." [more]

Kingdom’s Gas Reserves Put at 267 tcf [May 14]
"Saudi Arabia’s gas reserves stood at 267 trillion cubic feet in 2008, Minister of Petroleum and Mineral Resources Ali Al-Naimi said in remarks reported yesterday.  The figure Al-Naimi gave according to a report carried by the official Saudi Press Agency was four billion cubic feet higher than an estimate Saudi Aramco data showed earlier yesterday. Aramco’s figure shows an increase of about 4 percent in gas reserves compared to 2007. Al-Naimi said the offshore field of Karan is expected to produce 1.8 billion cubic feet per day of non-associated gas. Saudi Arabia awarded in February the contracts for the field, its first non-associated offshore gas field project. 'The program of Saudi Aramco to develop the reserves and gas production will continue. For example the Karan offshore field is expected to add 1.8 billion cubic feet per day to the production capacity,' he said, without giving details.." [more]

~~~~~~~~ [ May 13]~~~~~~~~~

Joint GCC Efforts Needed on Iraq – Naif [May 13]
"Joint GCC efforts are needed to end the bloodshed in Iraq, Prince Naif Bin Abdul Aziz, Second Deputy Prime Minister, and Minister of Interior, said here on Tuesday. Addressing the 10th consultative meeting of GCC interior ministers here, Prince Naif said the meeting comes amid global and regional changes which have huge implications on the security and stability of the region. The aggravation of security conditions in Iraq, he said, necessitates that the neighboring countries crystallize their stands in the interest of the unity and stability of Iraq and safety of its people. 'They (the neighboring countries) need to realize the danger of instigating and antagonizing one party against another and its impact not only on the security of Iraq but on the security of the entire world,' he said. 'This makes it inevitable for all of us to cooperate to avert the killing and destruction in Iraq,' Prince Naif said.." [more]

Saudi Aramco in 2008: Setting New Standards in Excellence [May 13]
"Saudi Aramco on May 13 released its 2008 Annual Review, reaffirming its role as a leading provider of energy. The Review summarizes company operations and outlines significant achievements throughout the year. The Annual Review’s theme, 'Setting New Standards: Our Legacy, Our Future,’ highlights the company’s unmatched track record of reliability, innovations in technology across the petroleum value chain, and its commitment to providing energy to the world while maximizing the value of its petroleum reserves for the benefit of the Kingdom’s citizens. H.E. Ali I. Al-Naimi, Minister of Petroleum and Mineral Resources of the Kingdom of Saudi Arabia and Chairman of the Saudi Aramco Board of Directors, notes in the review: 'Saudi Aramco’s prudent management of the world’s largest petroleum reserves and fourth-largest gas reserves was showcased this anniversary year through the company’s ongoing, record capital program to expand oil and gas production capacity.." [more]

Saudi to Lift Cement Exports Curb [May 13]
"The Saudi Trade and Industry Ministry has decided to lift its restrictions on cement exports to various countries, including Bahrain, from May 25, it has been revealed. Tough restrictions on cement imports from Saudi Arabia, had pushed Bahrain's construction industry into crisis. Exports to Bahrain were restricted to 25,000 tonnes a week from the end of May last year, causing crippling shortages and halting or delaying construction projects. Bahrain was forced to import cement from further away and the crisis was compounded by massive delays in getting trucks carrying limited supplies across King Fahad Causeway. Importers welcomed the news yesterday, saying their 'hand to mouth' days could soon be over, though problems continue on the causeway.." [more]

Women May Get Jobs in Judiciary [May 13]
"Justice Minister Muhammad Al-Issa revealed Tuesday a study into the possibility of allocating offices for women in courts and 'channels for appointing women in the judiciary.' The minister was speaking at a function organized by the National Committee for Lawyers here. Office jobs in the judiciary can be as managers, supervisors, courtroom clerks, IT technicians and specialists, research librarians, etc. So far no woman has been appointed as a judge in Saudi Arabia and Saudi scholars have said that women should not be burdened with such a job. Al-Issa, in an interview with the Arabic daily Asharq Al-Awsat last week, was asked about the chances of a woman becoming a judge in Saudi Arabia, whether this was 'possible or impossible.'.. ..Bahrain is the only Gulf country to allow women to become judges, and the UAE is reportedly considering such a move. Saudi Arabia is in the early stages of implementing judicial reforms, starting with developing the infrastructure.." [more]

New System to Replace Sponsorship [May 13]
"The Ministry of Labor has completed a five-year study of the current sponsorship system. The plan behind the study is to replace the sponsorship of individual workers with a new system of private recruitment companies which will take care of the affairs of individual expatriate workers. While the precise time the new system will come into effect is unclear, the changes will only apply to workers with minimum qualifications such as laborers, drivers, housemaids and private female nurses. According to the system recommended by the study, recruitment companies, instead of Saudi individuals, will recruit individual foreign workers, return them to their native countries at the end of their contract or before if they so desire. The company will also provide employment opportunities to workers or allow them to change jobs if the change is within the provisions of the relevant regulations, an informed source told Arab News.." [more]

Shoura Call Raises Virtual Storm [May 13]
"Ahmad Al-Ghamdi, the head of the Commission for the Promotion of Virtue and the Prevention of Vice in Makkah region, is generally supportive of the Shoura Council’s call to include women as members of the commission. He said there was need for a 'body that can penetrate women’s groups such as those in the education and business fields.' 'There is no other monitoring body that does this job (except the commission). I believe the presence of women, after educating them and teaching them the necessary procedures, would produce positive results,' he added. The Shoura Council recently approved the inclusion of women members in the commission. The approval not only upset certain groups in the Kingdom but also sparked heated debates in Saudi society. Both women and men were quick to point out what they saw as the inherent contradiction in the move and they were vocal in their arguments against the recommendation.." [more]

~~~~~~~~ [ May 12]~~~~~~~~~

Saudi FM Says Israel's Plan to Raze Palestinian Homes Dangerous [Mar 12]
"A reported Israeli plan to raze Palestinian homes in east Jerusalem and surround the city with Jewish-controlled sites is dangerous, Saudi Foreign Minister Prince Saud al-Faisal said Tuesday. Prince Saud called the moves a 'counter-indication' of Israel's commitment to peace, and said they reflect new Prime Minister Benjamin Netanyahu's "extreme position" on the Arab-backed two-states peace plan for the region. The peace plan calls for the Palestinians and Israelis to share Jerusalem as the capital of both states. 'It is hoped that it (Israel) will take steps to prove its sincerity in applying itself to peace instead of continuing operations in Jerusalem,' Prince Saud told a news conference. 'It is not only dangerous in itself. It is dangerous as an indication of the intent of Israel toward peace,'.." [more]

University of ND to Train Saudi Pilots [Mar 12]
"The University of North Dakota says it has a $17 million contract to train 75 Saudis to fly helicopters over the next several years. UND Aerospace Foundation Executive Director Chuck Pineo says the first of the students are in Grand Forks and are learning English to prepare for training. The foundation is the business arm of the UND School of Aerospace Sciences. It has a contract with the Kingdom of Saudi Arabia's Interior Ministry. Pineo says the pilots will join the ministry's search and rescue operations.." [more]

Saudi Shiites Call for Sheikh Kalbani Dismissal [Mar 12]
"Saudi Shiites called for the dismissal of Sheikh Adel Al-Kalbani, the first black imam of the Grand Mosque in Mecca, and his trial for inciting hatred against their community. During a live interview on the BBC Arabic Television last week, Sheikh Kalbani, who was appointed nine months ago as the Imam of the first shrine of Islam, called Shiite clerics 'heretics' and insisted they were not entitled to join the Supreme Council of Ulema, the highest religious body in Saudi Arabia. These statements have angered religious Shiite dignitaries, writers and journalists, calling for his dismissal and trial. Some even urged the Saudi government 'to officially apologise to Shiites.' Even the moderate Shiite leader, Sheikh Hassan Al-Saffar, condemned these 'takfiri sentiments' and asked Sheikh Kalbani to be present an 'official apology' or be dismissed, while several other Shiite clerics simply called for his dismissal and trial.." [more]

Saudi Arabia Defence and Security Report Q2 2009 [May 12]
"The economic outlook has worsened in Saudi Arabia, with our latest oil price and production figures having been revised down, and the global climate continuing to deteriorate. Interbank lending remains very tight, and private sector projects continue to be cancelled. However, we are relatively positive on Saudi Arabia compared with some of its neighbours.. ..Economic risks are the main threat to stability in Saudi Arabia as we move into 2009, with a rise in unemployment and a decline in living standards having the potential to destabilise the Kingdom. However, in the absence of any evidence of unrest so far, either in the way of terrorism or industrial action, we have left our short-term political risk ratings unchanged in this area. We are forecasting an increase in government spending this year, and this, in our view, should be enough to ensure ongoing stability. However, domestic terrorism still remains an issue.." [more]

UNICEF Praises KSA on Rghts of Children [May 12]
"The situation of children in Saudi Arabia was at the center of discussions that UNICEF Regional Director for the Middle East and North Africa Sigrid Kaag had with King Abdullah, Custodian of the Two Holy Mosques, and other senior Saudi officials. We are encouraged by the progress that Saudi Arabia has made in protecting children’s rights and are confident that more will be done to ensure that all children are safe from harm, abuse and exploitation,” Kaag said at the end of a two-day visit to the Kingdom. According to national statistics, 93 percent of Saudi children are attending primary school and the country is on track to achieve universal primary education by 2015.. ..UNICEF works closely with the Saudi government and other partners to fully realize children’s rights through addressing youth and adolescent needs and issues, preventing domestic violence, abuse, and child trafficking, and protecting children who come into contact with the law.." [more]

Shoura Members Call For Female Sports Clubs [May 12]
"Members of the Shoura (Consultative) Council at a recently held session asked the General Presidency for Youth Welfare to expedite the process of establishing all-female sports centers. Amer Al-Lowehiq, a member of the Shoura’s external affairs committee, urged the General Presidency for Youth Welfare to hasten the process of allocation for women clubs. Dr. Abdullah Al-Faifi, head of culture and media affairs at the Shoura, highlighted the role of women in social reformation. He said that they also had the right to such recreational facilities in conformity with Saudi culture and traditions. He also called on the private sector to extend cooperation to the General Presidency of Youth Welfare by financing both men’s and women’s sports clubs.. ..Madawi Al-Hassoun of the Jeddah Chamber of Commerce said the chamber has been trying for three years to find a government body prepared to take on board licensing female gyms.." [more]

SR142m Haramain Railway Contract Goes to British Firm [May 12]
"Foster & Partners has won an SR142 million contract to design four stations for the new high-speed Haramain railway linking the two holy cities of Makkah and Madinah with Jeddah. Finance Minister Ibrahim Al-Assaf, chairman of Public Investment Fund (PIF), and Transport Minister Jabara Al-Seraisry, chairman of Saudi Railway Organization (SRO), yesterday signed the contract with the British company to carry out the project. “This contract represents the second part the Haramain railway’s first phase. It is for preparing engineering designs, matching international standards,” said Al-Seraisry after signing the contract. He said the four stations would be located in Jeddah, Makkah, Madinah and King Abdullah Economic City in Rabigh, adding that Foster & Partners has long-standing experience in the field.." [more]

KKR Looking for Investments in Saudi Arabia [May 12]
" KKR & Co., the leveraged buyout firm run by Henry Kravis and George Roberts, is studying possible investments in Saudi Arabia as it prepares to expand in the Middle East. 'Any way you look at it, it’s the biggest market,' said Makram Azar, who joined KKR in September as head of the firm’s Middle Eastern operations. 'It has scale, it has 28 million people, it has lots of corporates and industries and family businesses that we could support and give growth capital to.'.. ..The planned expansion follows a slowdown in Persian Gulf economies as a result of a decline in oil prices, credit shortage and increased government spending to boost growth and employment. Egypt, Saudi Arabia and the United Arab Emirates were the largest recipients of private equity investment for the past four years, according a report by the Gulf Venture Capital Association in March. “It’s definitely a good time to be looking at investment opportunities,”.." [more]

~~~~~~~~ [ May 11]~~~~~~~~~

Saudi-French Civil N-Pact Soon [May 11]
"France and Saudi Arabia are close to finalizing a civil nuclear cooperation pact which could lead to the sale of French atomic energy technology, French Economy Minister Christine Lagarde said on Sunday. A deal could be completed 'soon,' Lagarde said. 'The talks have progressed well.' Lagarde had a day of meetings with King Abdullah, Custodian of the Two Holy Mosques and top officials, including Ali Bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources, and Jubara Al-Sireisiri, Minister of Transport. The meetings focused on stepping up bilateral cooperation between the two countries for oil price stability, in the transportation sector and for civilian use of nuclear energy. Lagarde gave no details of what would be covered by the civil nuclear cooperation pact, but officials said it could be completed and signed by the end of 2009.." [more]

Riyadh Vows to Help Colombo [May 11]
"Sri Lankan Foreign Minister Rohitha Bogollagama, who wrapped up a day’s visit to the Kingdom yesterday, said Saudi Arabia would help in post-conflict development in the northern and eastern parts of the country. He said the Kingdom would send an evaluation team to the areas affected by the war against the rebels to consider the volume of assistance that could be rendered to rehabilitate the refugees in the country. He added that the Saudi team would comprise mainly officials from the Saudi Fund for Development. The foreign minister said the government has already provided full assistance to the civilians who fled from the cease-fire zone.. ..The minister held talks in Riyadh with Interior Minister Prince Naif, Prince Saud Al-Faisal, Prince Alwaleed bin Talal, chairman of the Kingdom Holding Company, GCC Secretary-General Abdul Rahman Al-Attiyah and SFD Vice Chairman Mohamed Al-Arefi.." [more]

Taiwanese Team Due on Tuesday [May 11]
"A Taiwanese trade delegation’s visit to the Kingdom from May 12 to 18 is expected to boost the bilateral trade between Taiwan and Saudi Arabia which has reached $15.24 billion, up 45 percent over the previous year, according to Taipei Economic and Cultural Representative in Saudi Arabia Sheng-tsungYang. The delegation, under the auspices of the Taiwan External Trade Development Council (TAITRA), will include 90 members representing 59 Taiwanese firms. The head of delegation is Sheng-chung Lin, TAITRA vice chairman. In Riyadh, the delegation will meet Saudi businessmen on May 13.." [more]

Top World Leaders Gather at KAEC on Monday [May 11]
"How to avert a new cold war will be on top of the agenda for the 27th session of the Council for International Understanding (CIU), which opens at King Abdullah Economic City (KAEC) in Rabigh on Monday. About 28 present and former heads of state will attend the four-day event, in addition to some 200 Saudi and other delegates including political, intellectual and business leaders.. ..“The decision taken by the council to hold its next conference in Saudi Arabia reflects the Kingdom’s leading role in the economic world,” said Amr Al-Dabbagh, SAGIA governor.." [more]

Iran Protests Saudi Insult to Female Pilgrims [May 11]
"Iran's Hajj and Pilgrimage Organization has expressed strong protest against the fingerprinting of Iranian women pilgrims by Saudi airport officials. Iran will give a suitable response to the insulting Saudi move, an official of the organization, Abdollah Nassiri, told IRNA. He added that Iranian organizations had already written to Iran's Foreign Ministry and the Saudi Interior Ministry to voice their protest. Police in Saudi Arabia have insulted Iranian female Hajj pilgrims by fingerprinting them at Jeddah International Airport. It was not the first time that the Saudi police have fingerprinted Iranians entering the country for participating in the Hajj.." [more]

Khatami Heads to Saudi to Attend Interaction Council Meeting [May 11]
"Former Iranian President Mohammad Khatami left Tehran on Sunday to attend the Interaction Council meeting in Jeddah. The Interaction Council consists of a group of former heads of government who meet periodically to discuss world issues. The council was formed in 1983 by Takeo Fukuda, the former Japanese premier. Khatami’s five-day trip takes place upon an invitation by former German chancellor Helmut Schmidt and former Australian premier Malcolm Fraser. The meeting will discuss dialogue between Islam and Christianity, the current global situation, ways to defuse crises, energy, and the world’s future. Khatami is to deliver speeches on Islam and Christianity as well as the current situation of the world.." [more]

Chances for Economic Recovery Linked to OPEC [May 11]
"Top officials with the Organization of Petroleum Exporting Countries are meeting in Vienna Sunday, and are expected to make a decision about possible cuts in oil production to boost prices. The meeting is being watched closely by the United States and other industrial countries, with some officials warning new cuts and higher oil prices could keep the global economy mired in a recession. OPEC members gathering in Vienna face a difficult decision. Many of the oil-exporting countries would like to see higher prices. But Saudi Oil Minister Ali al-Naimi says the global recession makes that difficult. 'You have to understand, the world economy is not as healthy as it should be. So you should expect demand, worldwide, to be down,' he said. And he fears that, as long as the global recession persists, demand for oil will continue to weaken. 'That would be a guess, but you know, the global oil demand in 2009 is significantly less than 2008,' he said.." [more]

Times Changing, But Saudi Women Still Held Back [May 11]
"The topic of our speech at the Saudi Arabian conference was bringing society together through volunteerism. That's why it seemed ironic a screen separated men and women in the audience. Genders were also divided at dinner. During breakout sessions. Everywhere. We spoke with some incredible women. Though we could only see their eyes through the black abaya cloak, they were filled with expression as they discussed their ideas and plans for grassroots volunteerism and civic engagement. Too bad they couldn't share those ideas with their male counterparts. The men told us, 'Things are changing.' True. The country got a taste of equality in February when Nour al-Fayez was appointed the first female member of the Saudi Council of Ministers. But, that taste is bittersweet. Her position as Deputy Minister for Women's Education exists because of gender-segregated education.." [more]

~~~~~~~~ [ May 10]~~~~~~~~~

Shi’ites Plan to Take Saudi Clerics to Int’l Court [May 10]
"Shi’ites in Egypt and Iraq are planning to take Saudi clerics to an international court for incitement to violence against the Shi’ite minority. The Al Al-Beit institution in Cairo and Baghdad are joining efforts to press charges against 22 Saudi clerics, accusing them of issuing fatwas, religious decrees, that label the Shi’ites as infidels and incite to violence against them. News of the plan appeared in the Sunday edition of the London-based Al-Quds Al-‘Arabi, and in several other Arabic language websites. Muhammad A-Dureini, who heads the institute in Cairo, said he made an agreement with Wa’d Al-Husseini, who heads the Hashemite Al Al-Beit in Iraq, to pursue Saudi religious clerics in court, in order to settle accounts with them. The Iraqi branch of Al Al-Beit is making the appropriate arrangements to take the clerics to an international court, where they want them charged for crimes against humanity. Al-Husseini told Al-Quds Al-‘Arabi that several committees had finished preparing the charge sheets against the Saudi clerics this week.." [more]

Poll: Mideast Arabs Think Very Highly of Obama [May 10]
"..The poll of six Arab nations found that residents think Obama will have a positive impact on the Middle East - a region marked by war, religious disputes, ethnic and sectarian violence - as well as on the United States and the rest of the world. Obama scored highest in Jordan, where 58 percent of its citizens have a favorable opinion of him, 29 percent have an unfavorable view, 6 percent had no opinion and 7 percent didn't know. Saudi Arabians have a 53 percent favorable opinion of Obama, followed by 52 percent in the United Arab Emirates. From there, Obama's popularity dips with a 47 percent favorability rating in Kuwait, 43 percent in Lebanon and 35 percent in Egypt. In none of these countries, however, was Obama's unfavorable rating higher than his favorable one. In contrast, only 38 percent of Saudis have a favorable view of the United States.." [more]

Three Gulf Economies to Contract in 2009 - IMF [May 10]
"The International Monetary Fund slashed its 2009 growth forecast for Gulf states by more than half to 1.3 percent as it expected economies of three of the oil exporters, including Saudi Arabia, to shrink in a global recession. The IMF, which in February projected growth in the Gulf region of 3.5 percent this year, also warned of risks from a prolonged global recession and further deterioration of bank balance sheets due to exposure to weak real estate markets.. ..Saudi Arabia's economy would contract 0.9 percent, the UAE's would shrink 0.6 percent and Kuwait's would contract 1.1 percent, the IMF said in a regional economic outlook. Over all, economies in the Middle East and Central Asia are likely to grow 2.5 percent compared with 6 percent last year, it said. 'The bottom line is that nearly all countries in the region will be seriously affected by the global crisis in important but different ways,'.." [more]

Saudi Judge: It's OK to Slap Spendthrift Wives [May 10]
"Husbands are allowed to slap their wives if they spend lavishly, a Saudi judge said recently during a seminar on domestic violence, Saudi media reported Sunday. Arab News, a Saudi English-language daily newspaper based in Riyadh, reported that Judge Hamad Al-Razine said that 'if a person gives SR 1,200 [$320] to his wife and she spends 900 riyals [$240] to purchase an abaya [the black cover that women in Saudi Arabia must wear] from a brand shop and if her husband slaps her on the face as a reaction to her action, she deserves that punishment.' Women in the audience immediately and loudly protested Al-Razine's statement, and were shocked to learn the remarks came from a judge.. .. Al-Razine made his remark as he was attempting to explain why incidents of domestic violence had increased in Saudi Arabia. He said that women and men shared responsibility, but added that 'nobody puts even a fraction of blame' on women, the newspaper said. Al-Razine 'also pointed out that women's indecent behavior and use of offensive words against their husbands were some of the reasons for domestic violence in the country,' it added.." [more]

May 3-May 9, 2009

~~~~~~~~ [ May 9]~~~~~~~~~

MOS Lee to Visit Saudi Arabia 9 to 12 May [May 9]
"Singapore’s Minister of State Lee Yi Shyan will be visiting the Kingdom of Saudi Arabia for four days, from 9 to 12 May. The visit aims to reaffirm the growing economic ties between the two countries, and further catalyse bilateral business linkages. The Kingdom of Saudi Arabia is Singapore’s largest trading partner in the Middle East, with bilateral trade at S$22 billion in 2008, and presents significant opportunities for Singapore companies in the infrastructure, environmental services, and oil and gas sectors. Since 2007, Singapore companies have secured S$1.25 billion worth of projects in the Kingdom.." [more]

Saudi Signs $2.4bn Water Contracts [May 9]
"Saudi Arabia's Water and Electricity ministry on Saturday signed contracts worth SR9 billion ($2.4 billion) for water projects in the central region around Riyadh, the state news agency said. Minister Abdullah bin Abdul-Rahman al-Husayen signed the contracts for water pumping, desalination and storage with a group of Saudi and foreign companies, SPA said. They will serve the city of Riyadh and a number of neighbouring regions, including Sudair, Zulfa and Majma'a. The contracts involve a project which will take 42 months to implement.." [more]

Major Banking, Investment Conference Today in Jeddah [May 9]
"Prince Khaled Al-Faisal, Emir of Makkah province, will inaugurate the third Saudi International Banking and Investment Conference (SIBIC 2009) under the theme 'Investment and Securities: Forum of Views and Ideas' today at the Jeddah Hilton Hotel. Over 700 experts from business, insurance and banking are expected to attend the event which seeks to address investors’ problems in the Kingdom. 'We expect to hear many interesting solutions during the forum about the financial industry and how to benefit from the growth of the Saudi economy,' said Yassin Al-Jefri, general supervisor of the conference.. ..the main points of discussion will center on local and foreign banks, insurance companies, and the variety of mortgages under the authority of the Ministry of Trade and Industry. The conference aims to increase foreign investment in the Saudi market.." [more]

Saudi Shares Hit 6-Month High [May 9]
"Petrochemical stocks lead Saudi shares to their highest close in more than six months after oil prices end the trading week at their highest in as many months. The all-share ends 3.75 per cent higher at 6,019.69 points, its highest close since November 5. The front-month contract for US crude oil closes the trading week up $1.92, or 3.4 per cent, at $58.63 a barrel, its highest settlement in six months after fewer-than-expected job cuts in April suggested the economic slump was easing. Nymex crude is up about 30 per cent since the start of the year, responding to the run-up in the stock market and output cuts by producer group Opec.." [more]

~~~~~~~~ [ May 8]~~~~~~~~~

Saudi Arabia Donates $3 Million to World Scout Foundation [May 8]
"On behalf of the Kingdom of Saudi Arabia, Saudi Minister of Education and President of the Saudi Arabian Boy Scouts Association, HH Prince Faisal bin Abdullah bin Mohammed, today is delivering a $3 million donation to Swedish King Carl XVI Gustaf, Honorary Chairman of the World Scout Foundation, to support the Gifts for Peace program. Gifts for Peace was created under the patronage of Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz in November 2001 at a Scouting Conference in Riyadh. 'Gifts for Peace is a truly worthy program and represents an extension of Saudi Arabia efforts to promote peace and cultural understanding worldwide,' said Saudi Ambassador to the United States Adel A. Al-Jubeir. 'Through Gifts for Peace, King Abdullah and King Gustaf have already inspired more than ten million young people in 110 countries to work for peace and understanding in their local communities.'.." [more]

Saudi to Commission $15 Mln Solar Plant [May 8]
"Saudi Arabia will commission the $15 million two-megawatt solar power plant at the King Abdullah University of Science and Technology (KAUST) in July, a senior company executive working on the project said on Thursday. The plant will generate enough power for about 500 homes, said Abdulhadi al-Mureeh, a business development director with National Solar Systems. 'We are halfway through the project and will commission it in July,' Mureeh said on the sidelines of an industry conference. KAUST is seeking to position itself as a leading solar energy research centre focused on making solar energy more efficient and economical, said Khalid al-Falih, Saudi Aramco's chief executive officer, during a speech in Washington on Tuesday.." [more]

Arab Peace Offer is Not Negotiable [May 8]
"The Arab League and Syria have shot down a US suggestion that the Arab peace initiative be changed to make it more palatable to Israel. The 2002 peace initiative offers Israel Arab recognition, peace and normal relations in exchange for an Israeli withdrawal from territory it occupied in the 1967 Middle East War, the establishment of a Palestinian state with east Jerusalem as its capital and a just solution to the issue of Palestinian refugees. Several Arab diplomats said this week that the Americans are asking Arab states to drop demands for a right of return for Palestinian refugees and agree to either resettle them in the host countries or in the Palestinian territories. Arab foreign ministers meeting at the Arab League headquarters in Cairo yesterday rejected the request, said Jordan’s foreign minister. 'The ministers renewed their commitment to the initiative as it is without change,'.." [more]

Saudi-Egypt Joint Investment Set to rRse: Al-Hokair [May 8]
"The new chairman of the Saudi-Egyptian Business Council Abdul Mohsen Al-Hokair has projected the volume of fresh joint investments in the two countries for the next three years at SR16 billion. 'The new investment projects will cover areas such as energy, electricity, tourism, industry, agriculture and services,' Al-Hokair said in the wake of his election to the office at the Council of Saudi Chambers and Commerce and Industry (CSCCI) in Riyadh yesterday. The meeting held under the chairmanship of Fahd Al-Sultan, secretary of CSCCI, also elected two Saudis Osama Al-Kurdi and Fahd Al-Hammad as deputy chairmen of the business council. The meeting will shortly nominate 25 Saudi and Egyptian members to the council. Referring to the leap in the volume of bilateral trade and investments to SR20 billion last year, Al-Hokair said, 'The Saudi-Egyptian trade ties are now viewed as not only the cornerstone of Arab trade but a decisive factor in the social stability of the region as well.'.." [more]

Kingdom Leads Gainers as GCC Markets in Uptrend [May 8]
"Returns in the GCC equity markets showed signs of significant momentum in April at 16.83 percent from 7.94 percent return in March. A report by Kuwait Financial Center (Markaz) on Thursday said all the GCC markets posted positive returns in April. Five of the six GCC markets posted returns in excess of 10 percent. Saudi Arabia led the gainers with a return of 20.8 percent. In March, due to the reversal in trend, the momentum model was overweight on all the markets, due to which it was leveraged by 20 percent. This had led to significant out performance of the model as compared to the SAA. The out performance for the month of April was at 3.32 percent and for the year at 6.46 percent. Similarly, in the case of emerging markets and the world indices, the trend of momentum continues to be strong post the reversal in March.." [more]

Saudi Tourism Expected to Grow [May 8]
"The Saudi Commission for Tourism and Antiquities has launched a massive investigation into how to improve tourist facilities, hotel management training and cultural festivals. In an accelerated development process to promote tourism in the Kingdom, the government has announced a strategy which includes the construction of several multi-million-riyal tourist sites. Prince Sultan Bin Salman Bin Abdul Aziz, Secretary-General of the Supreme Tourism Commission, has said Saudi Arabia will become a solid tourist destination, with political stability, economic prosperity and international confidence in the country. The tourist areas of Saudi Arabia currently comprise the coastal areas of Jeddah, Dammam and Al Khobar. Inland areas as such as Taif, Al Baha, Abha and the Unesco heritage site of Madain Saleh in Diriyah are expected to attract most foreign tourists.." [more]

~~~~~~~~ [ May 7]~~~~~~~~~

Saudi Arabia, Bahrain to Keep Currency Pegs to Dollar [May 7]
"Saudi Arabia, Qatar and Bahrain officials said today that they see no need to change their more than two-decade-old fixed-exchange rates to the U.S. dollar. 'We are committed to the peg because it serves us well,' Saudi central bank Governor Mohammed al-Jasser said today at an Islamic Financial Services Board conference held in Singapore. The dollar still remains the 'dominant' global currency, he said. Forward contracts on the Saudi riyal and the United Arab Emirates dirham tumbled to the lowest in more than a decade last year on speculation they would scrap or loosen links to the dollar in order to tackle soaring inflation. Inflation slowed this year, reducing pressure on the exchange rates and easing the way to the creation of a single currency in the region.." [more]

Saudi Arabia’s Islamic Bank Plans to Sell $500 Million of Bonds [May 7]
"Saudi Arabia’s Islamic Development Bank, an organization set up by 56 nations to lend to Muslim communities, plans to sell $500 million of Islamic bonds by the end of June, its first debt offering this year. Proceeds from the sale will be used to fund the bank’s projects in member countries, Mohammed Tariq, director of the Treasury Department said in an interview in Singapore today. The Jeddah-based bank plans to raise as much as $5 billion over the next five years through 2014 to expand lending, President Ahmad Mohamed Ali al-Madani said separately at the Islamic Financial Services Board summit. Sales of the so-called sukuk may rise to a record this year, led by issuers from the Persian Gulf, as higher yields attract investors, Saudi Arabia-based NCB Capital said in March.." [more]

Aramco Raises Energy Production Capability [May 7]
"Saudi Arabia is investing in 'all petroleum value chain on a scale never before seen in the history of our industry,' President and CEO of Saudi Aramco, Khalid A. Al-Falih said on Wednesday. Underlining the Kingdom’s commitment and sense of responsibility at being the world’s largest energy supplier, he said 'we are continuing our efforts to locate additional resources across Saudi Arabia, including new frontier areas both on land and offshore, despite the large resource base we already possess.' Speaking at the Center for Strategic and International Studies in the US capital Washington, DC, Al-Falih reinforced the need to keep investing in the oil and gas industry. Being bullish on the propects, he said 'we believe there is tremendous potential to locate substantial new hydrocarbon resources in various regions of the Kingdom.'.." [more]

Saudi Businessmen Wary of Agrarian Reform [May 7]
"Agriculture Secretary Arthur Yap said corporate executives representing the big agricultural businesses in Saudi Arabia have raised concerns about the Philippine agrarian reform and limiting foreign land ownership as they indicated interest in acquiring tracts of plantation land and poultry farms. 'They have raised their concern on the effect of these policies on the security of their investment,' Yap told reporters at the sidelines of the Kingdom of Saudi Arabia (KSA) Agriculture and Trade and Investment Mission to the Philippines at the Apo View Hotel here yesterday. He said that it was understandable for Saudi business executives to raise such issues 'because some of them wanted to acquire thousands of hectares of land for planting, processing and raising livestock and poultry'.. ..Yap said he would explain to the KSA government and business delegation how the twin policies operate to persuade them to push through with their investments in plantations and food processing. 'We will try to convince them to put those big investments, especially that they are focused on food production,'.." [more]

Here She Comes: Saudi Arabia's Miss Beautiful Morals [May 7]
" Sukaina Al Zayer is an unlikely beauty queen hopeful. She covers her face and body in black robes and an Islamic veil, so no one can tell what she looks like. She also admits she's a little on the plump side. But at Saudi Arabia's only beauty pageant, the judges don't care about a perfect figure or face. What they're looking for in the quest for 'Miss Beautiful Morals' is the contestant who shows the most devotion and respect for her parents. 'The idea of the pageant is to measure the contestants' commitment to Islamic morals'.. ..'The winner won't necessarily be pretty,' she added. 'We care about the beauty of the soul and the morals.' So after the pageant opens Saturday, the nearly 200 contestants will spend the next 10 weeks attending classes and being quizzed on themes on inner strength and leadership. Pageant hopefuls will also spend a day at a country house with their mothers, where they will be observed by female judges and graded on how they interact with their mothers.." [more]

Municipal Councils Not Ready to Employ Women [May 7]
"The time is not ripe for municipal councils to employ women, a city council official here said. Hassan Al-Zahrani, vice chairman of the municipal council here said that the councils are still in their inception stage and need time before involving females in their work. Overly hasty moves to open the door to women’s participation could have negative consequences, he said. The issue of men and women sharing responsibilities is not up for debate, Al-Zahrani said, as each one has their responsibilities specified in Shariah Law. He said women were taking part in extensive areas of society that are suited to their nature, citing social issues and district centers and other societies. More women working in those areas would have a positive effect on the structure and cohesion of society.." [more]

Man Tries to Attack Saudi Embassy in Stockholm [May 7]
"Police said they arrested a man who tried to start a fire at the entrance to the Saudi Arabian Embassy in Stockholm. Police spokesman Tore Loftheim said the man set fire to a car outside the embassy and was pouring flammable liquid on the embassy door when he was captured by security guards. He was arrested on suspicion of attempted grave arson. No one was injured in Wednesday’s attack and the embassy stayed open. Loftheim declined to give more information about the man and said the motive for attack remained unclear.." [more]

New Vision to Boost Saudi-German Ties [May 7]
"The German-Saudi Arabian Liaison Office for Economic Affairs (GESALO), a Riyadh-based institution supported by Saudi and German governments, has set out a new vision to boost economic ties between the two countries. The new vision for the group was unveiled on the occasion of the weeklong celebrations that kicked off yesterday to mark the 30th anniversary of GESALO’s successful operation. GESALO, whose mission is to support and to boost Germany’s bilateral economic relations with Saudi Arabia, Bahrain, Kuwait and Yemen, 'has emerged as an active player and a trusted institution in the international business world,' said Gerd Doepner, a delegate of the German Industry and Commerce in Saudi Arabia, who supervises the growing operation of GESALO on a day-to-day basis. Doepner said that the GESALO was organizing a high-profile function with a gala dinner on May 10 as part of the 30th anniversary celebrations.." [more]

~~~~~~~~ [ May 6]~~~~~~~~~

Saudis Trying to Forge National Alliance Against Militancy [May 6]
"Saudi Arabia’s role in evolving a consensus among the major players in Pakistani politics became more pronounced on Saturday night when some of the top government and opposition leaders met at Ambassador Ali Awadh Asseri’s palatial residence, and Prime Minister Yousuf Raza Gilani used the occasion to announce, what he called a ‘process of reconciliation’ in the country. The announcement was more about the Pakistan People’s Party joining the government in Punjab, but Prime Minister Gilani described it as the start of reconciliation, indicating that it may even lead to a greater alliance at the centre. Flanked by the main opposition leader Mian Nawaz Sharif and ambassador Asseri, Premier Gilani praised the Saudi role and said it was significant the announcement was being made at the residence of the Saudi envoy.." [more]

U.S. Mulls Saudi Scheme for Guantanamo Yemenis [May 6]
"The United States has raised the idea of sending Yemeni detainees held at Guantanamo Bay to Saudi Arabia as part of Washington's efforts to close down the controversial prison, Defense Secretary Robert Gates said. U.S. President Barack Obama ordered in January the closure of the prison within one year but Washington is keen to ensure that those freed do not end up rejoining militant groups. Gates told reporters on Wednesday that he was impressed with Saudi Arabia's programme to rehabilitate militants whereas Yemen may have less capacity to deal with repatriated inmates. 'They've probably done as good, if not a better, job of that than almost anybody and (we) explored the possibility of some of the Yemeni detainees coming through that system,' he said. 'It would be those with strong Saudi family connections or strong connections to Saudi Arabia. Nothing was decided. Nothing specifically was asked. It was more a general conversation about the capability and about the possibility.'.." [more]

Cape Verde: Saudi Fund for Development Finances Construction of Ring Road on Fogo Island [May 6]
"The Saudi Fund for Development (SFD) plans to provide Cape Verde with a US$10 million loan to help build a ring road on Fogo Island, according to the PANA news agency. The ring road project, which will link the three municipalities on the island, has a total estimated cost of US$36.13 million, which will also be financed by the Arab Bank for Economic Development of Africa (BADEA), and by the Cape Verdean government. The OPEC (Organisation of Petroleum Exporting Countries) Fund for International Development (OFID) and Sociedade Financeira Internacional (SFI) are also involved in funding the project. The project icnludes over 80 kilometres of roads, most of which with na asphalted 7-metre wide layer, but which in some places will keep the traditional cobblestones. The concession agreement for this funding is due to be signed Friday.." [more]

Sheikh Kalbani: All Shiite Clerics are Heretics [May 6]
"Sheikh Adil Al-Kalbani, the first black imam of the Grand Mosque in Mecca lashed out at Shiite clerics, saying they are not entitled to join the Supreme Council of Ulema, the highest religious body in Saudi Arabia. 'I think Shiite clerics are heretics,' Sheikh Kalbani said Monday on the BBC Arabic satellite new channel.. ..Sheikh Kalbani, who was appointed by King Abdullah last September as the imam of the Mosque of the first shrine of Islam, to which flock over two million Muslim pilgrims of all faiths every year. 'Indeed, I can not consider a Muslim anyone who knows the value (for Sunnis) of Abu Bakr (the faithful companion of the Prophet Muhammad), and still insults and curses him and warns Muslims against him,'.. ..Shiites claim they suffer discrimination, particularly being banned from holding key positions in military, diplomacy and security and from exercising their religious rites and cultural activities. But the Saudi government, dominated by Wahhabism-inspired Sunnis, insists Shiites have all their rights.." [more]

Riyadh to Host GCC Central Bank [May 6]
"GCC leaders on Tuesday chose Riyadh to host the bloc’s first regional central bank, a key step toward a long-elusive push for greater economic integration in the oil rich region. Abdul Rahman Hamad Al-Attiyah, the group’s secretary-general, said Riyadh was chosen as the location for the region’s monetary council, the precursor to the new central bank. He said details of the agreement would be released later. The announcement marked a major step toward advancing the Gulf region’s monetary union plan that also includes a unified currency. The effort, in the works for years, has stalled on a number of issues, including Oman’s decision not to participate in the single currency and Kuwait’s decision to drop the US dollar as a currency peg.." [more]

KAEC Hosts 28 World Leaders Next Week [May 6]
"Twenty-eight present and former heads of state will attend the 27th session of the Council for International Understanding (CIU) at King Abdullah Economic City (KAEC) in Rabigh May 10-13. The event will also be attended by more than 200 Saudi and foreign political, intellectual and business leaders. 'The Kingdom’s hosting of the conference reflects the support of Custodian of the Two Holy Mosques King Abdullah for investment projects in the Kingdom,' said an official statement. 'The KAEC is considered the largest single private sector investment project in the Kingdom,' it added.  Projects like the KAEC would reduce the migration of Saudis from less developed area to the cities, said Fahd Al-Rashid, board member and CEO of Emaar Economic City. Total investments in the city reached SR4.8 billion last year. The number of engineers and technicians working in the city rose to 13,000 while the number of housing units sold in 2008 reached 1,124 with a total value of SR2 billion. A number of industries have started building their facilities in the city. 'The KAEC has been successful in attracting huge foreign investments during the past few years,'.." [more]

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

Saudis Angered by Europe Visa Hassles [May 5]
"Saudi Arabia has accused France, Germany and Italy of discrimination over what it said were unreasonable delays for its nationals to secure visas to visit several European countries. Saudi applicants are forced to submit more documentation and wait much longer than citizens of neighbouring countries for Europe's Schengen visa, the foreign ministry said. The visa allows visitors to travel freely through 15 countries with a visa from a single embassy.  Articles in several newspapers in the past three weeks have accused especially the French embassy in Riyadh of mistreating Saudi applicants, with some calling for a boycott of France and its businesses. 'The visas take longer than it should be.. ..We want to be treated as the other Gulf countries are, 'foreign ministry spokesman Osama Nugali told AFP. 'The Kuwaitis don't have to wait, the Omanis don't, so why the Saudis?'.." [more]

Gates Begins Official Saudi Visit [May 5]
"US Defense Secretary Robert Gates is due to start an official visit to the Kingdom of Saudi Arabia Tuesday and is expected to meet King Abdullah bin Abdelaziz Al-Saud. According to Saudi ofiicail's Gates and King Abdullah are to discuss relations and the situation of the Middle East and Gulf region, in addition to other international developments. Gates is visiting Saudi part of a tour of the region and he is the second top figure in the Obama administration to visit Egypt after Secretary of State Hillary Clinton, who visited on March 2.." [more]

Ministry to Impose Anti-Dumping Measures on BDO Imports [May 5]
"The Chinese mainland will start from Wednesday imposing temporary anti-dumping measures on 1,4-butanediol (BDO) imported from Taiwan and Saudi Arabia, the Ministry of Commerce said Tuesday. In a statement on its website, the ministry said Taiwan and Saudi Arabia had dumped BDO products on the Chinese mainland. The ministry said the temporary measures are a result of the initial ruling of an anti-dumping investigation that began in September last year. The ministry said Taiwan and Saudi Abrabia's dumping had caused substantial damage to the mainland's BDO industry. Importers will have to pay a deposit when bringing the goods into the country.." [more]

Cybercrime Threatens Businesses in Kingdom [May 5]
"A 3,000 percent exponential growth in internet usage since 2000 has meant that more than 22.7 percent of the Kingdom’s citizens are now prone to cyber crime today, Trend Micro said in a statement on Monday. In the first three months of 2009, Trend Micro has cleaned more than a million infected computers across the GCC, and 723,567 of those were in Saudis Arabia. The number of infected computers in the country is set to grow as spam peaks at 200 billion a day globally. 'The Kingdom of Saudi Arabia has one of the highest number of internet usage in the Arab world, and Saudi individuals and businesses are prone to malicious web attacks that could be financially damaging,'.." [more]

Saudi Arabia’s Foreign Assets Fall [May 5]
"Saudi Arabia’s foreign assets fell for the fourth straight month in March after almost a decade of steady growth driven by rising oil prices, official data showed Monday. Foreign assets controlled by the Saudi Arabian Monetary Agency (SAMA) declined 2.8 percent, or about $11 billion, to SR1.541 trillion ($410.93 billion) in March from a month earlier. The decline has accelerated from a 2 percent drop in February. Although SAMA’s foreign assets rose by about 19 percent in March from their level a year earlier, they were at their lowest level since July, 2008. The Kingdom has shed more than $31 billion in foreign assets since November 2008, according to a report posted on SAMA’s website. SAMA’s net foreign assets stood at SR1.541 trillion ($410.93 billion) in March, down from SR1.585 trillion in February. The global financial crisis has battered global markets and oil prices have fallen around $100 from a record high near $150 in July, hitting both the revenues and the foreign holdings of many countries in the world’s largest oil-exporting region.." [more]

Riyadh, Canberra Agree to Upgrade Cooperation [May 5]
"Saudi Arabia and Australia have agreed to boost ties in education, commerce and counterterrorism efforts. Australia is also discussing with the six-nation Gulf Cooperation Council (GCC) plans to upgrade bilateral contacts by holding ministerial level dialogue as part of a wider consultation process. 'We have discussed ways and means to enhance the relationship between the Kingdom and Australia on the one hand and between Australia and the GCC on the other through increased cooperation in trade and investment, education links and counterterrorism,' said Australian Foreign Minister Stephen Smith after holding wide-ranging talks with Custodian of the Two Holy Mosques King Abdullah in Riyadh on Sunday.. ..This is the first visit of an Australian foreign minister to Riyadh in five years. Smith is scheduled to meet Minister of Commerce and Industry Zainal Alireza today to discuss progress of negotiations on the Australia-GCC Free Trade Agreement.." [more]

3-day Jeddah Commercial Forum from June 15 [May 5]
"Jeddah is to host a three-day economic forum exploring business developments and issues in the Kingdom. 'Ministers, top government officials, businessmen and businesswomen in the Kingdom will participate in the first Jeddah Commercial Forum (JCF) to be held under the aegis of Makkah Gov. Prince Khaled Al-Faisal at the Jeddah International Center for Conferences on June 15, 16 and 17,' said Majed Qarub, chairman of JCF’s organizing committee. 'The forum, in which problems faced by businesswomen will receive special attention, is scheduled to discuss topics such as obstacles in the way of investments consequent to the ongoing global economic crisis, the result of governmental measures to protect the investment environment in the country, and the pros and cons of new commercial regulations,' said Qarub who was speaking at a press conference at the Jeddah Chamber of Commerce and Industry (JCCI).." [more]

Saudi Arabia Looking to Expand Domestic Tourism [May 5]
"The Kingdom of Saudi Arabia plans to launch a new national tourism scheme by the end of the current year. According to the Saudi tourism commission, the long-term vision for the hospitality sector in the country estimates that visitor numbers will nearly double by 2020, from 47 million in 2008 to 88 million in 2020. The commission noted that the number of hotel rooms would more than double, rising from 117,097 to 254,310. Prince Sultan bin Salman bin Abdulaziz Al-Saud, president and chairman of the board of the Saudi Commission for Tourism and Antiquities, commented at the Arabian Hotel Investment Conference (AHIC): 'We have a major programme for human resource development as we see tourism as a major job creator.'.." [more]

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

Gates Wants Saudi Help in Pakistan [May 4]
"U.S. Defense Secretary Robert Gates says he wants Saudi Arabia to help forge a political consensus in Pakistan that it must deal with the threat from the Taliban, al-Qaida and related militant groups. The secretary spoke to reporters on his aircraft, while on his way to Cairo and Riyadh, telling them, 'The Saudis, in particular, have considerable influence in Pakistan.' American officials have been working for months to convince Pakistani officials to shift their focus from the threat they perceive from India to what they see as the more immediate and dangerous threat from militants inside Pakistan. And, they say they have made some progress.." [more]

Saudi Leaders Refuse To Give New Money To IMF [May 4]
"When leaders of the G20 nations pledged at their recent London summit to find $1.1 trillion in lending resources for the International Monetary Fund, they were counting on the world's wealthiest countries to boost their IMF contributions. Among the countries at the top of their list was the oil-rich kingdom of Saudi Arabia. But a month has passed, and Saudi leaders are still refusing to come up with new money for the IMF. Their reluctance to part with their cash, however, has less to do with Saudi stinginess than with a new Saudi determination to assert their economic and political clout on their own terms. 'The Saudis want to see exactly what's on offer from the IMF,' says Eswar Prasad, a former IMF division chief and a professor of trade policy at Cornell University. 'They want to see if a larger contribution will get them a larger voting share [and] more influence at the IMF.'.." [more]

Saudi Investors Pledge $2 Bln for Madagascar Projects [May 4]
"Saudi investors have pledged $2 billion for Madagascar's tourism, communications and energy sectors, the government said, in a sign that some financiers are not shying away from the new president's administration. A political crisis since early this year has dealt a hefty blow to the Indian Ocean island's $390 million-a-year holiday industry and the roughly $8 billion-a-year economy. Some investors are concerned that Africa's youngest incumbent president, Andry Rajoelina, will revise existing contracts -- branded golden handshakes by the new government -- if economic circumstances become more favourable. 'Investments initially worth up to $2 billion will target the energy, communications, telecommunications and hotel sectors,' Madagascar's Foreign Affairs Ministry said in a statement late on Sunday.." [more]

Saudi-US Cultural Festival Set in Taif [May 4]
"Following the success of the first Saudi-American cultural festival in Abha in 2007, the US Consulate General in Jeddah will host a second festival in Taif starting Wednesday. With the support of Makkah Gov. Prince Khaled Al-Faisal, the American-Saudi Arabian Culture and Commerce Festival seeks to develop and strengthen the cultural and commercial relations between the Kingdom and the US, said a statement issued by the consulate. It said the festival is being organized in partnership with the Taif governorate, the Taif Chamber of Commerce and Industry and the Saudi Commission for Tourism and Antiquities. An exhibition will take place at the Intercontinental Hotel in Taif from 9 a.m. to 9 p.m. on Wednesday and Thursday, the statement said, adding that the exhibition is open to the public and admission is free of charge.." [more]

Saudi Arabia Most Likely to Host Gulf Central Bank [May 4]
"While the race will be tight, Gulf Arab leaders meeting this week are most likely to choose Saudi Arabia, the region’s largest economy, as the headquarters of their common central bank, a Reuters poll showed Sunday. The world’s top oil exporter will face tough competition from Bahrain and the United Arab Emirates, which were neck-and-neck in the second and third spot in the poll of 21 economists. Heads of state of Saudi Arabia, the UAE, Kuwait, Qatar and Bahrain are meeting in Riyadh on May 5 in their latest attempt to decide on a location for the central bank - a key remaining hurdle before the Gulf monetary union plan. Choosing a venue won’t be easy, according to respondents in the April 29 to May 2 poll, who said a number of political and economic considerations complicate the decision. Of the 21 poll respondents drawn from regional and global banks and research institutes, nine favoured Saudi Arabia as the most-likely choice for the headquarters, while six opted for the UAE, five picked Bahrain and one chose Qatar.." [more]

New Port Terminal to be Ready by October [May 4]
"Mazen Mohammed Matar, CEO of Red Sea Gateway Terminal Company, said the new terminal would increase Jeddah Islamic Port’s capacity by 45 percent. The new facility would be operational by October this year with half capacity. The terminal is designed to handle 1.5 million containers annually. 'Our desire is to complete the project with all related aspects including linkage with Jeddah city and the port,' he said. 'We have prepared three studies, including a traffic study on linking the terminal with the port and the city. We have passed these studies to the concerned authorities,' he said. A committee comprising representatives of different departments, such as municipality and the Traffic Department, has approved a number of proposals made in that study to serve Jeddah for the next 30 years. 'The study has taken into consideration the roads around the port including traffic intersections, up to the borders of Andalus district,' he said.." [more]

Stephen Smith Visits Saudi Arabia [May 4]
"Stephen Smith has become the first Australian foreign minister to visit Saudi Arabia since 2003. Mr Smith met with King Abdullah, Second Deputy Prime Minister Prince Naif and his Saudi Arabian counterpart Prince Saud Al-Faisal. The delegations from Australia and Saudi Arabia discussed trade, education links and counter-terrorism. Mr Smith said he would meet with Saudi Arabia's Commerce Minister Zainal Alireza on Tuesday to discuss negotiations towards a free-trade agreement between Australia and the Gulf Cooperation Council, made up of six Persian Gulf nations. The Arab states of the Persian Gulf are major customers of Australian-made cars, buying almost 40 per cent of vehicle exports in 2008.." [more]

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

Saudi Business to Close in Protest [May 3]
"A prominent Saudi businesswoman has decided to shut her IT firm in protest against a government requirement that she appoint a male director-general. Aliya Banaja said she will close her company, 2 The Point, after receiving a circular from Hossan Aqeel, undersecretary at the Ministry of Commerce and Industry. The circular says that it is mandatory for every Saudi company owned by a woman to appoint a male director-general. Banaja, who owns the first Saudi IT firm run and staffed exclusively by women, told the Al Watan Arabic daily that her decision would take effect immediately. She said she expected that other businesswomen would follow suit. She did not specify the number of firms that might be affected.." [more]

Saudi Domestic Liquidity Crosses SR1 Trillion-Mark [May 3]
" Saudi Arabia’s domestic liquidity has crossed SR1 trillion-mark, the Saudi Arabian Monetary Agency (SAMA) said in an announcement. 'This growth in liquidity is the result of steps taken by SAMA since October until April 14,' SAMA said. SAMA, which is the Kingdom’s central bank, said the new measures were taken to strengthen commercial banks to provide loans that play a significant role in stimulating economic growth. 'The measures adopted by SAMA led to liquidity enhancement that would encourage banks to resume financing productive projects,' Al-Eqtisadiah business daily quoted experts as saying. Economist Abdul Wahab Abu Dahesh said SAMA’s decision to lower the reverse repo rate apparently helped in substantially increasing the availability of money in the local economy.." [more]

April 26-May 2, 2009

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

Web Newspaper Charged With Defamation [May 2]
"Thirteen Saudi women journalists have filed complaints accusing a local online newspaper of 'defaming and distorting the image of the Saudi media.' 'The defamation complaints against the e-newspaper, Kul Al-Watan (All of the Homeland), were filed with the Ministry of Interior, the Ministry of Culture and Information, the Human Rights Commission (HRC) and the Saudi Journalists’ Association (SJA),' said Suad Al-Salim, the Saudi journalist who heads the group that filed the complaints. Al-Salim said the online newspaper published a report entitled 'Saudi Women in Red Nights' in which it alleged that prostitution, alcohol and drugs have become widespread in Saudi society, and that women journalists rely on illicit relationships with newspaper bosses to get support and fame. 'The report is offensive to Saudi media and Saudi women journalists.." [more]

Saudi Stocks Rebound With 7.8% Gain [May 2]
"Saudi shares ignored swine flu last week and rebounded strongly as stocks received momentum from the banking and petrochemical sectors. The Tadawul All-Share Index (TASI) climbed 7.8 percent last week, closing at 5,625.51 points. TASI is currently 17.1 percent higher than the year’s start. Saudi shares were buoyed by the Saudi Arabian Basic Industries Corp. (SABIC), which gained 16 percent last week following heavy losses previous week when the conglomerate announced historical losses for the first quarter of the year. 'SABIC’s gains reflect investors’ optimism over the improvement of the company’s performance in the coming months, given stable oil prices,' the Riyadh-based Bakheet Investment Group (BIG) said in its weekly report. However, the group warned that speculative trading could have 'a negative impact on the whole market'.." [more]

EU Calls for Saudi, GCC Investments in N-Projects [May 2]
"The European Union is ready to extend cooperation to Saudi Arabia and other GCC states in the safe and secured use of nuclear energy, said Luigi Narbone, Ambassador and head of delegation of the European Commission to Saudi Arabia. Narbone, however, said that there has been another dimension to EU-GCC cooperation in the field of nuclear energy, which is financing the nuclear project. Narbone, speaking to a select group at a media luncheon in Riyadh Saturday, said that EU countries possessed all the necessary expertise to ensure the safety and security of nuclear energy for civilian use. Antonia Calvo Puerta, Deputy Head of the Mission, was also present. Narbone said the European Union has been engaged in a long-term program in cooperation with international efforts to design and develop a fusion reactor, the future of nuclear energy. Apart from economic and trade cooperation between Saudi Arabia and other GCC states and the EU, cooperation in the field of nuclear energy could be extremely fruitful, he said, adding that the move was significant since the EU has become an important strategic partner of the GCC states.." [more]

~~~~~~~~ [ 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]

~~~~~~~~ [ 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]

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