Newsletter #142

January 1-7, 2006

 
In This Issue  
 

Discuss this item on SUSRIS    Email to a friend 

     

  • What's New on SUSRIS

    •    The Hajj in Perspective: A Conversation with David Long

    •    Mecca Hotel Collapse - Special Report

    •    The Hajj and Its Impact on Saudi Arabia and the Muslim World

    •    Muslims Mark Hajj Season with Pilgrimage to Mecca

    •    SUSRIS 2005 - Annual Summary

  • In the News - Saudi's poor get $1.33bn  

  • On the Web - Perspective on Saudi Arabia 

  • In the News - Survey: Saudi Arabia - Economist

  • On the Calendar - MEPC Capitol Hill Conference Series - Saudi Arabia/WTO 

  • News This Week

  • About SUSRIS

 

What's New On SUSRIS.org

    

 
The Hajj in Perspective: A Conversation with David Long            

"..The first that comes to mind is that the Hajj creates an opportunity for non Muslims and people who don't know much about Islam -- particularly those people who have a totally negative view of Muslims as terrorists and the other images that are prominently displayed in the media -- that this is a gathering of 2 million faithful people in a joyous time in the 21st century. With all the strife and all the suffering going on in the world it is just absolutely amazing.  It shows as much as anything can, the collective heart of the largest religious group in the world -- 1.2 billion people, more of them than anyone else. That in itself is not the lesson, the lesson is to get along in this world with anybody you need a sense of perspective. This is a great way of gaining perspective by looking at how so many people do an act of piety and religious obligation in an atmosphere of joy every year regardless of what's going on in Iraq, or anywhere, and I think that would be a lesson to contemplate."   [Complete article]

 

  Click for complete item (HTML)Printer Friendly  E-Mail This Page  Discuss this item on SUSRIS

Mecca Hotel Collapse - Special Report   

The death toll from the collapse of a hotel in the heart of Mecca stands at 76 as of Sunday, January 8, 2006  according to a report in Arab News.

"..The four-story building, in the Gazza section of Mecca, collapsed at about 1:20 p.m. local time Thursday, January 5, 2006, as pilgrims were returning from noon prayers at the nearby Grand Mosque.  The number of people injured by the collapse was said to be 64.  More than a million pilgrims are in Mecca preparing for the annual Hajj which begins on Sunday, January 8, 2006.."   [Complete article]

  Click for complete item (HTML) Printer Friendly  E-Mail This Page  Discuss this item on SUSRIS

The Hajj and Its Impact on Saudi Arabia and the Muslim World  

"..Each year, 2 million Muslims perform the Hajj, or Great Pilgrimage to Makkah. One of the Five Pillars of Islam, the Hajj is required of all believers once in their lifetimes provided they are physically, mentally and financially able. For the duration of the Hajj and the traditional visit to al-Madinah afterward, the Saudi government must insure that the Hajjis are provided with adequate housing (mainly in tents), food, water, health and sanitation, ground transportation, and public safety and security.." [Complete article]

  Click for complete item (HTML)Printer Friendly  E-Mail This Page  Discuss this item on SUSRIS

Muslims Mark Hajj Season with Pilgrimage to Mecca  

"The annual season of Hajj is now under way. Every Muslim who is financially able to do so is obliged under the Koran, the holy Muslim scripture, to make the pilgrimage to Mecca during Hajj at least once in his or her lifetime. The season culminates on the "Id-Al Adha," the festival of sacrifice, which this year falls on Tuesday, January 11 and continues until January 14. The arduous annual Hajj pilgrimage takes place this year against the background of the continuing war in Iraq and the increasing militancy on the part of the Islamic extremist groups against broader interests of the West and of particularly, the United States.."  [Complete article]

   Click for complete item (HTML)Printer Friendly  E-Mail This Page  Discuss this item on SUSRIS

SUSRIS 2005 Annual Summary

"..The year 2005 was a remarkable year in the course of the historic Saudi-US relationship.  An era ended with the passing of King Fahd and the ascension of King Abdullah to the throne in August, but there were numerous other important developments chronicled by SUSRIS in 2005.  Among them were: a milestone summit between President Bush and King Abdullah in April, the continuing commitment of Saudi Arabians and Americans to the global war on terrorism, expansion of political reforms including the introduction of nationwide elections, a Saudi trade mission crossing the US in search of business partners for $600 billion in new projects, opening of a new "Strategic Dialogue," reemphasis on student exchanges and people-to-people contacts, a new "boom" in the Saudi Arabian economy, accession of the Kingdom to the World Trade Organization, and more.."  [Complete article]

Click for complete item (HTML)E-Mail This Page  Printer Friendly

In the News

Saudi's poor get $1.33bn

Saudi Arabia's Minister of Social Affairs Abdul Mohsin Al-Akkas has said that his ministry distributes SR5 billion ($1.33 billion) to the poor and needy annually, said a report in the Al-Madinah.  He said that zakah money used to be put into an account held by the Finance Ministry to be used as needed but now the money is handed to the Ministry of Social Affairs to be used for social security and helping the poor, said a report in the Arab News.  Akkas added that the name of the Poverty Fund has been changed to the National Fund and that SR8 million of the fund's SR100 million were used for research and follow up. He expressed optimism at the fund's success in helping the poor establish small businesses with loans that do not exceed SR50,000.

Source: TradeArabia.com

On the Web

Perspective on Saudi Arabia
Mark N. Katz

"Many people have claimed that Saudi money is going to Islamic terrorists in other countries. Even Saudi officials I spoke with admit that this is happening. The assumption made by many, though, is that the Saudi government either directs or supports this activity. The truth is more complex.. ..There is much to criticize the Saudi government for. But you don't have to be an apologist for the Kingdom to realize that we are surely better off trying to work with the current government in Riyadh while encouraging it to adopt reform rather than having to fight against the radical regime that is likely to arise there if the Saudi monarchy collapsed now.."

[more]

In the News

Survey: Saudi Arabia
A Long Walk
Economist

Saudi Arabia seems a law unto itself: rich, unequal, uncompromising and unchanging. But, cautiously and almost imperceptibly, it is moving forward, says Max Rodenbeck.

"..Saudi Arabia can no longer be regarded as a simple place where an obscenely oil-rich king holds absolute sway over Bedouin subjects controlled by cash and a bleakly puritan Islam. It is now a complex, diverse and highly urbanized society, not insulated from the world but rudely exposed to it, where citizens increasingly long to be able to influence the direction of change and expect their leaders to earn legitimacy.."

[more]

On the Calendar

Saudi Arabia's Accession to the WTO: Is a "Revolution" Brewing?
42nd in Middle East Policy Council's Capitol Hill Conference Series

Friday, January 13, 2006
9:30 a.m. - noon
Mansfield Room, Capitol Building

After ten years of negotiations, Saudi Arabia has become a member of the World Trade Organization.  Now begins the hard part, adjusting to the new regime: lowering trade barriers and expanding market access for foreign goods and services, and joining the rules-based commercial arrangements of the world. For the kingdom, this means meeting the challenge of competition in the non-oil sectors of the economy–chemical products, pharmaceuticals, information technology, services, agriculture. Both risks and rewards loom on the horizon, particularly as economics and politics in Saudi Arabia are closely interconnected. Join us for a discussion of this potential "revolution" with our panel of experts:

WILLIAM CLATANOFF, Former Deputy U.S. Trade Representative for Labor
ROBERT JORDAN, Former U.S. Ambassador to Saudi Arabia
CHARLES KESTENBAUM, Former Regional Director, U.S. Department of Commerce
JEAN-FRANCOIS SEZNEC, Adjunct Professor, Columbia University's Middle East Institute

Moderator: Chas. W. Freeman, Jr., President, Middle East Policy Council

Contact: Maria Arruda (202) 296-6767 or e-mail: marruda@mepc.org 

 

Click to visit the SUSRIS calendar.

Suggest an event to add to the calendar -- click here.

News This Week

[For more on these stories and for more in the SUSRIS news archive CLICK HERE]

Building Collapse Toll 76  [Jan 7]
"As the death toll in Thursday’s building collapse in Makkah climbed to 76, Interior Minister and Chairman of the Supreme Haj Committee Prince Naif called an emergency meeting of the committee today to discuss the cause of the tragedy and findings of the investigation.." [more]

King Invokes Past as Guide for Future  [Jan 7]
"Custodian of the Two Holy Mosques King Abdullah has emphasized the need for Muslims having a correct perspective of their religion, away from extremism, to play a significant cultural role in the world.. ..He said the wrong education would have a negative impact on the Ummah as it would deviate Muslims from a glittering cultural track to a totally strange one.." [more]

Iraqi Allegations Refuted  [Jan 7]
"The number of Iraqis who came to perform Haj in the past two years was 40 percent more than the quota set for Iraq, a Haj Ministry spokesman said, refuting allegations made by Iraqi Prime Minister Ibrahim Al-Jaafari.." [more]

Value of Saudi Shares Traded Reaches SR148.53 Billion Last Week  [Jan 7]
"The Saudi stock market started the new year with a surge, with the Tadawul All-Share Index (TASI) crossing the 17,000-point barrier and closing at a new all-time high of 17,498.99 points on Wednesday. The jump was driven by rising blue chips, mainly by the Saudi Basic Industries Corp. (SABIC), which gained 5.48 percent in a week.." [more]

S&P Ups Kingdom’s Currency Ratings  [Jan 7]
"The Standard & Poor’s ratings agency has revised its foreign currency outlook for Saudi Arabia to positive from stable. At the same time, the “A” long-term foreign currency, “A+” long-term local currency, and “A-1” short-term sovereign credit ratings were affirmed. The local currency outlook is stable.." [more]

CMA Prepares for Parallel Stock Market   [Jan 7]
"The Capital Market Authority (CMA) began the first stages of establishing a parallel Saudi stock market to guarantee the stability of the market and reduce the negative effects of sudden market jolts.. ..It expects 30 companies to be listed in this market.." [more]

Japan to Meet Saudi Arabia on March 1 in Asian Cup  [Jan 6]
"Japan Football Association technical director Kozo Tashima confirmed Friday that Japan will face Saudi Arabia in an away match on March 1 in the preliminary round of the 2007 Asian Cup tournament.." [more]

Saudi Authorities Probe Hostel Collapse  [Jan 6]
"Authorities have launched an investigation into the cause of a hostel collapse in Makkah, which killed scores and wounded at leat 59 others, an Interior Ministry spokesman told state news agency. A Saudi official said on Friday that the death toll in the collapse has risen to 53.." [more]

Riyadh, Jubail Shortlisted as Top Leadership Cities  [Jan 6]
"RIYADH and Jubail Industrial City have been shortlisted as two of the world’s top three leadership cities by the World Leadership Forum (WLF). The capital was nominated in the health category for its specialist hospitals while Jubail was selected in the economy and employment category in view of its having grown to an already award-winning industrial giant from a small fishing and pearling village.." [more]

UK Scouts Begin Hajj Pilgrimage  [Jan 6]
"A group of British scouts has set off for the Muslim pilgrimage to Mecca in Saudi Arabia. The 25-strong party said they were proud and excited to be the first British members of the organisation to perform the Hajj. The scouts, who are aged 14 to 25, come from all over England. At Heathrow Airport their enthusiasm was bubbling over.." [more]

Old Hotel Collapses in Makkah  [Jan 6]
"At least 20 people were killed yesterday afternoon and 59 seriously injured when a four-story building collapsed in the Gazza area, a short walk from the Grand Mosque, prompting a massive rescue effort by emergency personnel.. ..The tragedy occurred at about 1.20 p.m. as thousands of pilgrims made their way back from the Holy Mosque after Zuhr (noon prayers). Many of the victims were hit by large chunks of falling debris.." [more]

Saudi Arabia Will Not Permit Citizens to Fight in Iraq  [Jan 6]
"Saudi Arabia will not permit its citizens to go to Iraq to fight and it is impossible for them to go there directly, said Saudi Interior Minister, Prince Nayef bin Abdul-Aziz.. ..He stressed that Saudi Arabia strongly refused that its people go Iraq to join terrorists, adding that Saudi's coming back from Iraq are a danger and that authorities were keen that they be handed over to them.." [more]

Terrorism Masterminds Being Pursued  [Jan 6]
"Prince Naif Bin Abdul Aziz, Minister of Interior, Wednesday night underlined the importance of allowing 
investigations to run their course with suspected terrorists in the custody of security forces. We are more interested in finding out who funds them and directs them. There are no delays regarding the trials, he told journalists at a routine annual press conference.." [more]

Saudis More Optimistic - Survey  [Jan 6]
"In a recent poll sponsored in part by the Young Arab Leaders organization and the Arab American institute, Saudis are happier with today s Kingdom compared to their feelings in 2002. Considerable changes have taken place in these past three years, and Saudis are very optimistic of what the future has in store for them.. ..The poll showed that 71 percent of Saudis believe that life will improve in the next four years compared to only 40 percent in 2002.." [more]

Saudi Term Prices In Line With Expectations  [Jan 5]
"Sentiment in the Middle East crude oil market held steady Thursday after leading producer Saudi Arabia emerged with official selling prices that were mostly in line with expectations. State-owned Saudi Arabian Oil Co., or Saudi Aramco, late Wednesday raised its OSPs for its three lightest export grades for February term supply to Asia but marked down its key Arabian Medium and Heavy grades. While some North Asian oil refiners expressed concerns over the outlook for heating fuel demand toward the end of winter in February, the higher light crude OSPs were largely taken in stride.." [more]

US Speeds Up Student Visas, Some Still Wait Long  [Jan 5]
"Huge delays in issuing student visas after the Sept. 11 attacks have been cut to just a few days in most cases, but the United States must do more to make foreign students feel welcome, a senior State Department official said on Thursday. More than 565,000 international students study at U.S. universities, earning the U.S. economy more than $13 billion. But the numbers have been in decline, due to factors including tightened visa restrictions, a perceived discrimination against foreigners and a rising antipathy toward U.S. policies.." [more]

Haj Security Top Priority  [Jan 5]
"The Kingdom will deploy as many as 60,000 security officers in Makkah and other holy sites during Haj to ensure the welfare and safety of pilgrims, Interior Minister Prince Naif announced yesterday.. ..At least 2.5 million pilgrims, including more than 1.5 million from abroad, are expected to perform Haj this year.." [more]

CNN to Broadcast Haj Live  [Jan 5]
"For the ninth consecutive year, CNN will present in-depth, live coverage of the Haj. Nearly 1.5 million pilgrims from the world over have already arrived in the Kingdom for the annual pilgrimage, which will see more than 2.5 million Muslims undertaking the spiritual journey to Makkah. CNN anchor Hala Gorani will present live updates and reports from the Haj for six days beginning Saturday.." [more]

Saudi Stock Index Near 17,500 Mark  [Jan 5]
"Saudi stocks continued their relentless surge and hit a new record high yesterday. The 1,941.96 points increase in the Industrial index, sent the Tadawul All-Share Index (TASI) near the 17,500 mark. The TASI index closed 314.37 points higher at 17,498.99. The index is up 4.71 percent in four days.." [more]

Kingdom Accounts for 40%of Gulf Fast Food Market  [Jan 5]
"With the volume of sales at around SR3 billion annually, Saudi Arabia accounts for around 40 percent of the fast food market in the Gulf states estimated at SR6 billion-SR7 billion.. ..the fast food market in the region has been growing annually at six to eight percent during the last five years.." [more]

Diary of the Hajj  [Jan 4]
"As millions of people stream into Saudi Arabia for next week's Hajj, the BBC's Rabiya Parekh has joined the pilgrims and is writing a diary for the BBC News website.." [more]

Quadrem Launches Joint Venture With Al Faisaliah Group to Expand Operations in Saudi Arabia  [Jan 4]
"Quadrem, the global eMarketplace(TM), has launched operations in Saudi Arabia, bringing the global e-business hub to the industrial center of the Middle East for the first time. The Saudi Arabian expansion is through a joint venture with the Al Faisaliah Group, one of the 20 largest companies in the Arabian Gulf Region.." [more]

Sultan Hints at Role of Private Sector in Developing Airports  [Jan 4]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, yesterday emphasized the private sector’s future role in developing the Kingdom’s airports, which currently handle 33 million passengers annually.. ..Prince Sultan said appointment of private sector representatives in the authority’s board was aimed at improving services and increasing private-sector role.." [more]

End of a Long Quest: Saudi Women Get Their Own Identity at Last  [Jan 4]
"It is finally official: A woman can apply for — and receive — her personal ID without the consent of her male guardian. Women are rushing to get their IDs with many of them being motivated by practical reasons rather than simply a desire to proclaim their independence.. .. source at the Civil Status Administration confirmed that the changes had become official about two weeks ago.." [more]

Saudia Launches Embraer Service  [Jan 4]
"Saudi Arabian Airlines celebrated yesterday the launch of the first two aircraft of its new Embraer fleet. The company has purchased fifteen Brazilian Embraer 170 aircraft in a $400-million self-financed deal for the first time in the history of the airline.." [more]

Saudi Stocks Continue to Surge  [Jan 4]
"The Saudi stock market continued to surge yesterday after touching an all-time high on Monday. The Tadawul All-Share Index rose 18.96 points yesterday to close at 17,184.62. The major Banking Index dropped 667.68 points to 41,891.41 as shares of top banks declined.." [more]

CITC Pledges to Liberalize ITC Sector  [Jan 4]
"The Communications and Information Technology Commission (CITC) has recently received numerous enquiries with respect to further liberalization of the information technology and communications sector, especially in view of Saudi Arabia’s entry into the World Trade Organization (WTO).." [more]

Syria Dominates Egypt-Saudi Talks  [Jan 3]
"Egyptian President Hosni Mubarak is holding talks in Saudi Arabia, with the crisis surrounding Syria and Lebanon high on the agenda.. ..Mr Mubarak's talks with Saudi King Abdullah in Jeddah are also expected to take in Iraq and the Palestinians. Diplomats said the Syrian issue would dominate the meeting, however. Both Egypt and Saudi Arabia are close allies of the United States, which has been putting heavy pressure on Damascus to co-operate with the UN.." [more]

More Saudi Eurobonds on Way  [Jan 3]
"Eurobond investors can expect several new issues from Saudi Arabia with major banks and firms in the world's top oil exporter preparing to tap the market, a senior manager at HSBC said.. ..Samba Financial Group's shareholders authorized the board in July to prepare a eurobond issue. Analysts expect banks to tap the eurobond market to bridge a growing mismatch between funding and loan portfolios.." [more]

Saudi Arabia Commits to Typhoon  [Jan 3]
"Saudi Arabia has signed an expanded military agreement with the UK government, including a commitment to acquire at least 24 Eurofighter Typhoons to replace its air force fleet of Panavia Tornado Air Defence Variant (ADV) fighters. Contained within a so-called “understanding document”, the multi-billion pound Typhoon order would provide the cornerstone of a third phase to the bilateral Al Yamamah arms agreement, which has already covered the delivery and support of 120 Tornado ADV and Interdictor Strike (IDS) aircraft, BAE Systems Hawk and Pilatus PC-9 trainers and other equipment.." [more]

Saudi Arabia's WTO Commitments to Help Liberalize Its Economy  [Jan 2]
"Following 12 years of negotiations, Saudi Arabia finally made its way into the World Trade Organization (WTO) on Nov. 11. As a result of the accession, the stock market surged to unprecedented levels. It is believed that more benefits are on the way as soon as trade barriers to Saudi petrochemicals fall. However, the Kingdom is bound to make further legal and institutional commitments in order to improve its business landscape and to cope with the challenges that WTO rules would impose.." [more]

Policy Watch: Perspective on Saudi Arabia  [Jan 2]
"..I, for one, have never been shy about criticizing the Saudi government.. ..But before dismissing the Kingdom as a lost cause, I think we need to stop and think. Many people have claimed that Saudi money is going to Islamic terrorists in other countries. Even Saudi officials I spoke with admit that this is happening. The assumption made by many, though, is that the Saudi government either directs or supports this activity. The truth is more complex.." [more]

Private Sector and NPOs: A Saudi Blueprint for Development Cooperation  [Jan 2]
"..In today's fast growing integrated economies, nations and societies are coming to terms with the fact that sustainable growth can only occur if countries, organizations and societies streamline their efforts through complementary partnerships. Successful bilateral or multilateral alliances between various sectors have proven that such a trend is no longer an option but a critical tool to secure the survival of economies in a competitive post WTO globalized market place.." [more]

Saudi stocks rise in New Year  [Jan 2]
"Saudi shares climbed 1.56 per cent mainly on gains in cement and banking stocks where investors sought to position themselves at the start of the new year. The all-share index added 261 points to close at 16,973 points. Turnover reached 26 billion riyals ($6.9 billion), against SR23 billion on Saturday. The gains yesterday add to the largest Arab bourse's 104 per cent rise in 2005 and 620 per cent since late-2002.." [more]

Health Insurance for Saudis Next Year  [Jan 2]
"The mandatory health insurance for Saudi nationals will be implemented at the beginning of 2007 while the final phase of the expatriate insurance scheme will be executed this year, said Minister of Health Dr. Hamad Al-Manea. The expatriate insurance scheme was studied in detail and was made mandatory for large companies last year.." [more]

US Lawyers to Meet Guantanamo Detainees' Families  [Jan 2]
"US lawyers who are representing Guantanamo detainees will visit Saudi Arabia and Bahrain next month.. ..The lawyers will meet family members of the detainees and brief them on their present condition, the paper said. The delegation will comprise 10 US lawyers. Nabeel Rajab, president of the Human Rights Centre in Bahrain, said his centre was working to arrange such a meeting, in coordination with the US and Saudi lawyers.." [more]

Eid Al Adha to be Marked on January 10  [Jan 2]
"With the Saudi Supreme Judicial Council proclaiming yesterday as the first day of Dhu Al Hijja, Saudi Arabia said the climax of this year's Haj would be on January 9. On the final day of Haj, more than 2 million Muslims will retrace the footsteps of the Prophet Mohammad (PBUH) and pause on Mount Arafat.." [more]

English-Language Textbooks to Be Made Easier  [Jan 2]
"English-language textbooks taught in the intermediate schools are to be revised in the light of the feedback received from teachers.. ..With pressure mounting for Saudization and resistance from the private sector to hire more Saudis in view of their deficiency in English, the Ministerial Council passed a resolution three years ago calling for the integration of IT courses and English language teaching in the school curriculum.." [more]

Saudis Focus of SCT’s Tourism Strategy  [Jan 2]
"The Kingdom is witnessing important developments in its nascent tourism sector, especially now that the Supreme Commission for Tourism (SCT) has gained traction following its 2003 inception.. ..In 2005, many services and attractions were launched in an effort to spur domestic tourism as well as to attract tourists from abroad. From participation in international tourism events to allowing people to take pictures of historical sites and other attractions, Saudi Arabia appears finally ready to take advantage on a global scale of its natural beauty and historical sites.." [more]

SAMA Invests SR328bn in Foreign Securities  [Jan 2]
"The Saudi Arabian Monetary Agency (SAMA) has invested SR328.65 billion in foreign securities by November 2005, up 8.4 percent compared to the figure in the previous month, a SAMA report said. The agency’s deposits with banks abroad increased by 18 percent to reach SR131.4 billion after a slight decline in the previous month.." [more]

Abdullah Meets Abbas  [Jan 1]
"Custodian of the Two Holy Mosques King Abdullah yesterday held talks with Palestine President Mahmoud Abbas in Riyadh on the situation in Palestine and Iraq as well as the tension between Syria and Lebanon. Speaking to Arab News, Palestine Ambassador Mustafa Deeb said the talks also covered the financial crisis facing the Palestinian Authority.. ..King Abdullah is an ardent supporter of the Palestinian cause. He has raised the issue at international forums and during his meetings with world leaders.." [more]

New Panel Disappoints Women  [Jan 1]
"Women have been asking for a real role and representation at the Shoura Council but they may not get either anytime soon.  According to local newspapers, the Shoura Council will soon name members of a national women’s committee which will not be independent but function primarily as a consultative body. The committee will have the right to make suggestions if the chairman of the council asks them to.. ..Women have been asking for the formation of the committee for years but the committee as suggested falls far below their desires and expectations.." [more]

40 Companies Ready to Go Public  [Jan 1]
"As many as 40 non-listed joint-stock companies, which require about SR35 billion in capital funds from the market, have announced their plans of going public. Dr. Said A. Al-Shaikh, chief economist at the National Commercial Bank (NCB).. ..estimated the total capital sought by the 40 companies in the range of SR30 billion to SR35 billion. He added that the cluster of joint-stock companies, which supposedly have already qualified for the first legal requirement by the Capital Market Authority (CMA), consisted of 325 companies by the end of 2005.." [more]

More than a million on haj in Saudi Arabia  [Jan 1]
"More than 1,1 million Muslims from around the world have arrived in Saudi Arabia for the annual pilgrimage to Mecca which begins next week.. ..The Haj pilgrimage, which has drawn two million Muslims in recent years, officially begins this year on January 8.." [more]

Saudi Foreign Assets Rise  [Jan 1]
"The Saudi central bank s net foreign assets rose by 8.3 per cent in November to SR537.7 billion ($143.4 billion), while money supply and bank loans grew more slowly.. ..Figures released by the Saudi Arabian Monetary Agency (SAMA), or central bank, showed SAMA s net foreign assets rose 65 per cent in the year to November. Net foreign assets in November rose to SR537.7 billion from SR496 billion in October and SR325.6 billion in November 2004.." [more]

[For more on these stories and for more in the SUSRIS news archive CLICK HERE]

About the Saudi-US Relations Information Service
The SUSRIS project -- an independent, private-sector information resource – offers objective, comprehensive news and information on the history, breadth and depth of the US-Saudi Arabia relationship.
< Read More About SUSRIS >
   
 
Saudi-US Relations Information Service

Email Newsletter icon, E-mail Newsletter icon, Email List icon, E-mail List icon Sign up for the SUSRIS Email Newsletter and Articles
eMail:info@SUSRIS.org   
Web: http://www.Saudi-US-Relations.org 
© 2006
Users of the Saudi-US Relations Information Service are
assumed to have read and agreed to our terms of use.