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Newsletter #151

March 5-11, 2006

 
In This Issue  
 

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  • What's New on SUSRIS this week:

    •     Tackling the Information Gap - Intro to a SUSRIS Interview with Prince Turki

    •     Death of a Deal: Reaction Begins in Port Misdeal

    •     Outreach and Engagement: A Conversation with Saudi Arabia's New Ambassador - Part 1

    •     The Franco-Saudi State Visit: Chirac in Riyadh

  • Looking Forward - Upcoming SUSRIS Items

  • Keeping Track - Recent SUSRIS Items

  • In the News - Negative Perception Of Islam Increasing

  • In the News - Arab Firms Reassessing U.S. Holdings

  • In the News - Saudi Stock Index Falls 3.03% in Volatile Trading

  • This Week's News

  • About SUSRIS

What's New On SUSRIS.org

    

Tackling the Information Gap   
Click here for the full article.Saudi Arabia's New Ambassador to U.S. Promises Openness and Engagement - by Patrick W. Ryan - "It is a short drive from Georgetown University, where Prince Turki al-Faisal went to school as a young man, along the Potomac River, downstream past the Watergate and the Kennedy Center to the embassy of the Kingdom of Saudi Arabia, where he has taken up duties as his country's top diplomat in the United States.  However, it has been a long journey in the intervening years between scholarship and diplomacy.."
 

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Death of a Deal: Reaction Begins in Port Misdeal  
Arab News Editorial - March 10: "Anti-Arab" -- "Yesterday's vote in a US House of Representatives committee blocking a Dubai company from running six major US ports was not about stopping foreign companies from running US ports. It was a specifically anti-Arab move. US politicians did not have a problem when British-owned P&O operated the ports. But now that an Arab company, Dubai Ports World, is buying out P&O, it is a different matter. It is glaringly, provocatively anti-Arab.." 
 

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Outreach and Engagement  
Click here for the full article. A Conversation with Saudi Arabia's New Ambassador to the United States - Part 1 - "..Our severest critics are in the Congress. And that is part of my brief from the King when I was coming here. I asked him how do you want me to deal with President Bush and the American people and he said, “Just be frank with them.” Since the government-to-government issue is going so well -- it is practically handled by the King and President Bush, they call each other on the phone, they send emissaries between them -- my concentration is more on reaching out to Congress, both houses, and meeting with the critics of Saudi Arabia. I can hopefully answer their concerns and questions about the Kingdom and express to them our concerns and our questions about how we view the relationship from Saudi Arabia to the United States.."

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The Franco-Saudi State Visit: Chirac in Riyadh  
Click here for the full article."French President Jacques Chirac conducted a three day state visit to Saudi Arabia to promote Franco-Saudi relations in a wide range of fields -- political, financial, military, cultural -- through discussions with King Abdullah, an address to the Consultative Council, art exhibit visits and press briefing.  Chirac, who last visited the Kingdom in August to express his condolences over the passing of King Fahd, arrived in Riyadh March 4, 2006 to a welcome by King Abdullah.  The French leader was accompanied by his foreign, defense, economy and external trade ministers as well as over 20 leading French businessmen who shared 'a view to forge close business ties with the Kingdom and to cash in on its strong economy'.."
 

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Looking Forward -- Upcoming SUSRIS Items  

Prince Turki al-Faisal, Saudi Arabia's Ambassador to the United States< SUSRIS Interview - March 14, 2006 >
< Prince Turki al-Faisal - Saudi Ambassador to the United States >
< Part 2 - Perspectives on Conflicts, Cooperation and Crises >

 

Dr. Rachel Bronson, Senior Fellow and Director for Middle East Studies, Council on Foreign Relations< SUSRIS Interview > 
< Dr. Rachel Bronson  - Senior Fellow and Director for Middle East Studies, Council on Foreign Relations - Author: "Thicker than Oil" (April 2006) >
< Talks about her recent visit to the Kingdom and the Jeddah Economic Forum >

United States Capitol< SUSRIS Essay >
< David Dumke - MidAmr Group - "Saudi Arabia and Congress: Understanding the Tension" >

Make sure these interviews and more arrive in your email inbox.. .. link here to subscribe to SUSRIS

 
Keeping Track - Recently on SUSRIS 

Click here to read "The Impact of the Abqaiq Attack on Saudi Energy Security?" by Khaled R. al-Rodhan.  (SUSRIS / IOI / Feb. 28, 2006) Click here to read about the meeting in Riyadh between Secretary Rice and Foreign Minister Saud al-Faisal ("Remarks to the Press in Riyadh")   (SUSRIS / IOI / Feb. 23, 2006) Click here to read about the terrorist attack at Abqaiq (News in Depth: Terrorist Attack at Abqaiq Oil Facility Thwarted")   (SUSRIS / NID / Feb. 25, 2006) Click here to read Afshin Molavi's essay ("Saudi Renaissance") on prospects for change under King Abdullah.   (SUSRIS / IOI / Feb. 14, 2006)
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Click here to read Prince Turki al-Faisal's interview with PBS' Charlie Rose.   (SUSRIS / IOI / Feb. 18, 2006) Click here for a wrapup on the 2006 Jeddah Economic Forum.   (SUSRIS / NID / Feb. 14, 2006) Click here for Prince Turki al-Faisal's interview on CNN.   (SUSRIS / IOI / Feb. 16, 2006) Click here for a discussion of the State of the Union address and implications for US-Saudi relations.   (SUSRIS / NID / Feb. 6, 2006)
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Click here for the report: Saudi Arabia's Accession to the WTO:  Is a "Revolution" Brewing?  - Middle East Policy Council Capitol Hill Conference Series (SUSRIS/IOI/Jan 22, 2006) Click here to read the SUSRIS NID on King Abdullah's China trip. (SUSRIS / NID / Jan 22, 2006) Click here for a article about women advancing in professional life in Saudi Arabia.   (SUSRIS / IOI / Dec. 28, 2005) Click here to read "The Saudi and Gulf Stock Markets: Irrational Exuberance or Markets Efficiency?" by Khaled R. al-Rodhan.  (SUSRIS / IOI / Dec.21, 2005)

 

In the News

Negative Perception Of Islam Increasing
Poll Numbers in U.S. Higher Than in 2001

Click for complete item (HTML)"As the war in Iraq grinds into its fourth year, a growing proportion of Americans are expressing unfavorable views of Islam, and a majority now say that Muslims are disproportionately prone to violence, according to a new Washington Post-ABC News poll.  The poll found that nearly half of Americans -- 46 percent -- have a negative view of Islam, seven percentage points higher than in the tense months after the Click for complete item (HTML) Sept. 11, 2001, attacks on the World Trade Center and the Pentagon, when Muslims were often targeted for violence.." [Washington Post On-line]

In the News

Arab Firms Reassessing U.S. Holdings

Click for complete item (HTML)"Gulf investors, feeling scorched by what they see as an anti-Arab backlash in the U.S. Congress, will likely be wary of high-profile investments in the United States after the ports controversy with a Dubai firm.  Analysts said [Mar 10], however, that with Gulf nations awash in cash from oil profits, the United States remains a tempting market to invest. Click for complete item (HTML)So instead of retreating, over the longer term, Arab investors and governments may campaign to shore up their image among Americans to ensure their money is welcome.." [Houston Chronicle]

In the News

Click here to visit the Tadawul All-Share Index Home PageSaudi Stock Index Falls 3.03% in Volatile Trading

Click for complete item (HTML)Volatile trading continued to dominate the Saudi stock market last week in what analysts described as a “deep correction.” The Tadawul All-Share Index (TASI) shed a further 3.03 percent last week, closing on Thursday at 17,924.7 points, down from 18,486.24 points previous week. The index gained 637.75 points or 3.69 percent on Thursday from Wednesday’s closing.  The Bakheet Financial Advisors expected investors to focus on blue-chip firms in the coming weeks and get rid of their holdings of speculative stocks. [Arab News]

 

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News This Week - March 5-11, 2006

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

Hamas Says Gets Saudi Promise on Continued Aid [Mar 11]
"Palestinian militant group Hamas said on Saturday that Saudi Arabia has vowed to remain one of the biggest financial backers of the Palestinians, despite U.S. and European threats to cut aid. The United States and the European Union have threatened to tighten the taps on the Palestinian Authority unless Hamas, which is gearing up to form its new government, gives up its armed struggle against Israel and recognizes the Jewish state.." [more]

Saudi Arabia to Award New Telecom Licenses [Mar 11]
"Saudi Arabia will grant by the end of this year new mobile and fixed phone licences, the telecoms watchdog said. The new licences will break the monopoly of Saudi Telecom (STC) on landline phone services and add at least a third mobile phone operator after STC and Etihad (Mobily).." [more]

Market Dive Hits Saudi Small Investors Hard [Mar 11]
"From domestic problems to heart attacks, Saudi society is feeling the pinch of a sharp drop in the stock market index after it recorded spectacular gains.. ..The decline of the Saudi bourse - a trend matched in other oil-rich Gulf Arab countries such as Kuwait, Qatar and the United Arab Emirates - has affected the purchasing power of Saudis.." [more]

Human Rights Society Will Inspect More Jails [Mar 11]
"The Saudi Society for Human Rights plans to make an inspection tour of prisons in Madinah, Assir and the Northern Border Province in the near future.. ..According to Dr Al Qah'tani, the society presents detailed reports about the visits to the Ministry of Interior as well as to the Prisons General Directorate following every trip.." [more]

Expert Seeks Tighter Regulations for Tadawul [Mar 11]
"The erratic behavior of the Saudi stock market (Tadawul) is the result of its manipulation by key speculators, according to a Saudi financial consultant with over two decades of experience.. ..According to Al-Murshed, the situation created by the lack of adequate investment channels has made the Saudi stock market “thin” despite the huge funds to be invested. This has made it vulnerable to wild swings.." [more]

Saudi Newspaper Criticizes US Politicians Over Halted Port Deal [Mar 10]
"The attitude of some US politicians in the controversy over the attempt by a United Arab Emirates (UAE) company to take over operations in six major US ports was 'provocatively anti-Arab,' a Saudi newspaper said.. ..Arab News said Arab politicians should consider whether they should approve of foreign companies buying facilities in their countries, such as the sale of mobile phone licences to US and British companies.." [more]

6 Saudi-Built Satellites to Be Launched [Mar 10]
"As part of an ambitious plan to promote space technology for commercial purposes, the Kingdom is preparing to launch six new satellites this year, said Prince Turki ibn Saud, vice president of the research institutes at the King Abdul Aziz City for Science and Technology (KACST). These satellites have been designed and fabricated by a team of Saudi scientists at the KACST’s Institute of Space Research .." [more]

Brazil Wants to Attract Saudi Investors to Capital Markets [Mar 10]
"Brazil wants to attract Arab investors to its capital market. It is with this objective that a group of 
representatives of the government and of the private sector will be in Saudi Arabia during the weekend. "The idea is to show that Brazil is an alternative and very viable destination for Saudi capitals," said the Brazilian ambassador in Riyadh, Isnard Penha Brasil Júnior, by telephone to ANBA.." [more]

Saudi Shares Fell by 3.03% on the Week [Mar 10]
"Saudi shares fell by 3.03 percent on the week ending Thursday. The Tadawul All-Shares Index (TASI) closed the week at 17,926.33 points, up from last week's close of 20,624.84.. ..The Saudi market is the largest in the Arab world in terms of capitalization estimated at over $400 billion.." [more]

Arab Firms Reassessing U.S. Holdings [Mar 10]
"Gulf investors, feeling scorched by what they see as an anti-Arab backlash in the U.S. Congress, will likely be wary of high-profile investments in the United States after the ports controversy with a Dubai firm. Analysts said Friday, however, that with Gulf nations awash in cash from oil profits, the United States remains a tempting market to invest.." [more]

US Report Hammers Iran, Syria, Spares Israel, Saudi Arabia [Mar 10]
"The annual US human rights report gives a hard-hitting assessment of Iran and Syria but largely spared Israel, Saudi Arabia and other allies in the Middle East.. ..Pressed about Saudi Arabia, where women do not have the vote, the US human rights official said that he would not make 'comparisons' between countries.." [more]

Saudi Arabia Sees 30-fold Increase in Foreign Investment [Mar 9]
"A 30-fold increase was recorded in foreign investments in Saudi Arabia in 2005 as compared to the previous year, with overseas investments in 2005 totaling SR200 billion. The statement was made by Amr Abdullah Al-Dabbagh, Governor of the Saudi Arabian General Investment Authority (SAGIA).. ..Dabbagh added that a tax credit formula which would reduce taxes was being study for less developed regions of the Kingdom to attract foreign direct investment (FDI).." [more]

Hamas Will Ask Saudi to Continue Support [Mar 9]
"A Hamas delegation will visit Saudi Arabia seeking political and economic support from the key Arab and Muslim country, Palestinian prime minister designate Ismail Haniyeh said.. ..Leaders of the militant Islamist group have been on a tour of Arab and other countries seeking support after their surprise win in Palestinian elections in January.." [more]

Middle East Leisure Boat Industry Looking to Saudi Arabia [Mar 9]
"Middle East leisure boat manufacturers and dealers are continuing to target the Saudi Arabia market as sales in the Kingdom continue to grow by up to 20 percent each year. Demand for leisure boats of all sizes is being fuelled by the emergence and rapid growth of marina-style real estate in the Kingdom. Several waterside projects and resorts, such as Emaar's US$27 billion King Abdualla Economic City project, north of Jeddah, are currently under construction.." [more]

Saudi Women Leaders Interact With Hong Kong Counterparts [Mar 9]
" A delegation of Saudi businesswomen headed by Princess Loulwah Al-Faisal celebrated International Women’s Day here yesterday. The delegation met with members of the Hong Kong business community at the chamber of commerce.. ..The Saudi delegation visited the newly re-organized Hong Kong Stock Exchange. Hong Kong businesswomen, who met the delegation members, described their city as a gateway between China and the rest of the world.." [more]

OPEC Agrees to Keep Taps Open [Mar 9]
"OPEC said yesterday it will keep oil output close to the limit to bring prices within consumers’ comfort zone and fill supply gaps.. ..Demand from the United States, consumer of a quarter of the world’s oil, and China has been the main driver in a rally that has seen prices double in the past two years.." [more]

Saudi Role in Middle East Security [Mar 8]
"As U.S. attempts to foster stability in Iraq are engulfed in the ongoing bloody insurgency, attention is turning to alternative security frameworks for the Middle East.. ..With a population of 25.6million, Saudi Arabia, the largest country on the Arabian Peninsula, is an important regional player. According to the Stanley Foundation's Policy Dialogue Brief, 'as one of the regional powers in the Middle East, Saudi Arabia is a necessary partner in establishing a coherent, reliable and predictable security order'. Tom Lipman, adjunct scholar at the Middle East Institute, endorses this. 'Its economic power, its religious influence, its location on the Gulf and the Red Sea, makes Saudi Arabia a key player in any security 
calculations for the region'.." [more]

British Delegation Presents Plan to Assist Students [Mar 8]
"Britain plans to link Saudi students with their counterparts in other countries and United Kingdom through the Internet.. ..A 12-member team from British Educational Suppliers Association (BESA) is in the Kingdom to meet Saudi educational contacts to identify where UK educational supplies industry could work in partnership with Saudi educational providers.." [more]

Switzerland and Saudi Arabia to Sign Investment Protection Agreement [Mar 8]
"An investment protection agreement will reportedly be signed between Saudi Arabia and Switzerland next month. Following a visit by a 20-member Swiss business delegation to Saudi Arabia and the Gulf, the two countries will cooperate with one another in the fields of economy and touris.. .. month-long training program for Saudi students will also be established to instruct them on international tourism, hospitality, communication and IT in the tourism sector.." [more]

Saudi Oil Minister Says Haradh Field to Add 300,000 Barrels a Day [Mar 8]
"Saudi Arabia's Oil Minister Ali Naimi told reporters Wednesday that he expects the kingdom's Haradh oil field 'production to be at 300,000 barrels a day by April 1.' Naimi added that ConocoPhillips (COP) had submitted the best bid for its 400,000 b/d Yanbu refinery and Total SA (TOT) has entered the best bid for its 400,000 b/d Persian Gulf refinery project at Jubail. The kingdom's state-run oil company Saudi Aramco (C.SOI) is still assessing the bids.." [more]

Intel Helps Students Engineer Saudi Arabia's Digital Future [Mar 8]
"Intel Corporation's vaunted Digital Transformation Initiative for the Middle East reached an important milestone in the Kingdom of Saudi Arabia with the announcement of an internship programme aimed at some of the Kingdom's brightest science brains.. ..This program will enable Intel and KFUPM to address the needs of skills development and knowledge transfer.." [more]

Saudi Boosting Oil Security After Attack [Mar 8]
"Top world oil producer Saudi Arabia is boosting spending on security for its oil installations after the thwarted attack on the Abqaiq processing plant, Oil Minister Ali al-Naimi said on Wednesday.'That's a normal consequence. Of course,' Naimi replied when asked if security spending had been increased. Describing security as 'enhanced' he said security guards had been supplied with 'powerful weapons' and could defend facilities against attacks from the air.." [more]

Small Investors Soak Up the Pressures as Saudi Stocks Rebound for Second Day [Mar 7]
"After investors lost faith in the Saudi Stock Market (Tadawul) following the sharp decrease in share prices last week, the market rebounded robustly for the second consecutive day yesterday restoring expectations. The market that had witnessed a correction and large sell-offs recently leveled off from the drop cycle when small investors desisted from sell-offs.." [more]

Saudi SEC Nets SR1,483m in Profits [Mar 7]
"The Saudi Electricity Company (SEC) netted profits of SR1,483 million in the year 2005. It also announced that it was distributing SR547 million in profits to shareholders (SR 3.5 per share) according to recommendations by SEC's board.The president of SEC, Mahmoud Taiba, said the company continued to offer new services to subscribers, particularly in the customer service section.." [more]

Ancient Coins Returned to Saudi Arabia [Mar 7]
"U.S. Immigration and Customs Enforcement (ICE) has returned to the Saudi government more than 130 pounds of ancient coins that agents seized from a man who had removed them illegally from a shipwreck in the Red Sea.. ..A tip by a confidential informant to ICE in Miami resulted in an investigation that led agents to a Key West, Fla., man who admitted to taking the coins improperly while spearfishing in an area near Jidda in Saudi Arabia in 1994.." [more]

Nomura Seeks Saudi License [Mar 7]
"Japanese broker Nomura wants to apply for a banking licence in Saudi Arabia, hoping to take advantage of the country's booming economy and the increasing potential for merger and acquisitions, a source familiar the matter said.The move is at an early stage but senior officials from Nomura, including the head of its operations in Europe, the Middle East and Africa, are planning to take a trip to Saudi Arabia this April.." [more]

Saudi Cuts Prices [Mar 7]
"Saudi Arabia cut April official selling prices to Asia by between $0.05-$1.00 a barrel, except for Arab Heavy which went up by $0.30; and to the US by between $0.20-$0.50, reported Reuters.." [more]

Saudi Arabia to Provide Relief Goods for NWFP [Mar 7]
"Saudi Arabia will provide 75 truckloads of relief goods for the earthquake survivors of the NWFP. The consignment, to be reached here on Wednesday, includes 250 modified tents, 1,250 sleeping bag, and 5,000 blankets and quilts for Alai areas of Bana, Rashnug, Battella, Biary, Sakargah, Tander, Jameera and Batkool. This is part of a huge consignment of Saudi relief goods consisting of 105 trucks. As many as 30 truckloads of relief have already been delivered to NWFP areas.." [more]

Al-Resalah Launched [Mar 7]
"Prince Alwaleed ibn Talal, CEO of Kingdom Holding Company, officially launched yesterday an Islamic satellite channel to project Islam as a religion of moderation and tolerance.. ..Prince Alwaleed said the 24-hour channel would target the Arab audience, especially the youth, by projecting “our Arab heritage through a modern medium.” It will be the forerunner of an English-language Islamic channel for the Western audience at a later stage.." [more]

Kingdom, Kuwait Call for OPEC Output Rollover to Cool Prices [Mar 7]
"Saudi Arabia and Kuwait called yesterday for OPEC to maintain its current production ceiling when the cartel meets this week in order to cool off high prices.. ..Saudi Arabia’s Minister of Petroleum and Mineral Resources Ali Al-Naimi said Saudi Arabia does not want the organization to cut its output ceiling of 28.0 million barrels per day (bpd) in order to prevent upward price pressures.." [more]

Pentagon Identifies Saudi Detainees [Mar 7]
"The Pentagon document released Friday for the first time identified 105 Saudis held at the infamous Guantanamo Bay prison.. ..The list, however, indicated that the US authorities have so far released 131 detainees including all the Belgian, Danish, French, Iranian, Spanish, Swedish, Ugandan and British detainees with the exception of the Arabs, according to Al-Watan report. Katib Al-Shamari, the lawyer of the Saudi detainees, told The Saudi Gazette that US authorities are dealing with it as a political case instead of a legal one. This is obvious from the ambiguity that surrounds the case.." [more]

France Targets Saudi Defense Deals [Mar 6]
"As Jacques Chirac cuts a swathe on his tour of Saudi Arabia, there will be those among the French president's entourage hoping that his three-day charm offensive will lead to big orders for French business. Not least, the bosses of two of France's leading defence companies, Thales and Dassault Aviation. Saudi Arabia is set to spend billions of dollars updating its military hardware, from fighter jets to security equipment. The oil-rich Middle East kingdom has traditionally sourced its arms from suppliers in the US and Britain.." [more]

Saudi Arabia Sees No Need for OPEC Output Cut [Mar 6]
"Oil Minister Ali al-Naimi said OPEC should not cut its oil production when it meets this week to avoid further price hikes.. ..Naimi said oil market supplies were "stable" but that concerns about supply distruptions in some producing countries were fuelling rises.." [more]

JGC Wins $860m Saudi Plant Order [Mar 6]
"JGC has received an order worth more than 100 billion yen ($860 million) to build one of the main facilities for a large petrochemical project in Saudi Arabia.. ..Saudi Aramco said last week that the cost for the complex has risen to $9.8 billion. The 50-50 joint venture to upgrade the existing Rabigh refinery on the Red Sea aims to start operating in the second half of 2008.." [more]

Investors in Despair as Saudi Stocks Craze Flops [Mar 6]
"Saudis are learning the hard lessons of investing as they watch a rare decline in the Saudi stock market after last year’s rise of more than 100 per cent. With the Tadawul all-share index down more than 10 per cent since it peaked 10 days ago, Saudi newspapers have described a panicky reaction among small investors swept along by the recent stock market craze.." [more]

Chirac in Terrorism Plea to Saudi Arabia [Mar 6]
"Jacques Chirac, the French President, called yesterday for dialogue to avoid misunderstandings in the wake of the uproar over cartoons depicting the Prophet Muhammad. M Chirac, speaking at the Majlis, the Saudi Parliament, called for 'cultivating all opportunities for dialogue to avoid misunderstandings,' and for 'redoubling attention and efforts to preserve peace.' On an official visit to Saudi Arabia, M Chirac was the first foreign leader to speak before the non-elected parliament.." [more]

Charles, Camilla to Visit Kingdom [Mar 6]
"Prince Charles and the Duchess of Cornwall are to visit Saudi Arabia for three days from March 24. The visit is part of a two-week tour by the royal couple that includes Egypt, Saudifor the Duchess of Cornwall.." [more]

Women Educators Seek Greater Autonomy [Mar 6]
"Saudi women educators in colleges and universities throughout the Kingdom meet here for a conference at the King Faisal University (KFU) to discuss their desire for greater autonomy in the management and administration of women education in institutions of higher learning. Some 300 women deans, professors and university administrators from various colleges and universities in Saudi Arabia are attending the conference, the first of its kind to be convened. The theme of the conference is Challenges and Development of Female Section in Saudi Colleges and Universities.." [more]

Saudi Plans on Trimming Waistlines of Overweight Population [Mar 6]
"Saudi Arabia has launched a battle to trim waistlines in its overweight population, which has become one of the world's foremost "obese societies", a seminar heard this weekend.. ..Statistics released at a Health Ministry conference on Saturday showed that obesity affected 51 per cent of Saudi women and 45 per cent of men, as well as 29 per cent of teenage girls and 36 per cent of boys.." [more]

Government Opens Up Trade Opportunities for SA Business [Mar 6]
"South African companies are poised to benefit from a $15-billion, some R92,9-billion project committed for infrastructural development and mining projects in Saudi Arabia. The Maa’den project is one of the Saudi government’s economic growth strategic programmes earmarked for infrastructure development and mining activities there.. ..trade regulation and protection agreements between South Africa and the Saudi government have already been signed.." [more]

Women Find It Safe to Invest in Real Estate Market [Mar 6]
"Despite the relative boom in construction, the real estate investment market is still stagnant. Women investors were particularly reluctant to enter the market and instead preferred the stock market with all its risks. The problem for women was lack of access to information about the real estate market, lack of control and lack of awareness. However, more and more women are now reconsidering that and finding it safer to invest in real estate rather than the stock market.." [more]

Record SR245 Billion Withdrawn From Saudi ATMs in 2005 [Mar 5]
"According to the latest SAMA statistics, the total amount of cash withdrawn from automated teller machines (ATMs) in the Kingdom hit its highest level in 2005, following a steady rise over the last seven years. The statistics show that the total amount of cash withdrawals from ATMs in Saudi Arabia reached SR245.9 billion ($65 billion) in 2005, marking a 22.7-percent increase from 2004 and rise of 136.6 percent from 1999.." [more]

King, Chirac Hold Key Talks [Mar 5]
"French President Jacques Chirac yesterday flew into Saudi Arabia on a three-day state visit.. ..The two leaders held brief talks at the air base. Summit talks later were to cover the whole gamut of bilateral and international issues with special reference to defense cooperation, the Iranian nuclear program, Iraq, the Hamas victory in Palestinian elections and tensions between Lebanon and Syria.." [more]

Qantara: A Better Solution to Unemployment [Mar 5]
"Qantara, which means “archway” in Arabic, is a comprehensive training program that attempts to bridge the gap between what is taught and what is needed in terms of job skills. Qantara is a non-profit initiative by the Sharaka Company to help create a generation of local youths who are not only successful in their future specialized fields but also more articulate, cultured and capable of seeking knowledge on their own.." [more]

SAGIA Reassures France Over Investment [Mar 5]
"Allaying concerns over the security situation, Saudi Arabia has reassured France that despite the terrorist attacks, the Kingdom attracted overseas investments worth SR200 billion in 2005-30 times more than that received the year before. Amr Abdullah Dabbagh, governor of the Saudi Arabian General Investment Authority (SAGIA), gave out the figure during a presentation on the investment opportunities in the King Abdullah Economic City (KAEC) for a 62-member French delegation that arrived here yesterday.." [more]

Strong Financial Results for Saudi Companies in 2005 [Mar 5]
"Six companies listed on the Saudi bourse index reported yesterday the financial results for their operations in 2005. The companies have enjoyed a successful operational year; five reported increases in their net profits while only one reported a significant decrease in its net losses from the previous year.." [more]

Financial Sector Attracts Saudi Job Seekers [Mar 5]
"The finance sector is the hottest sector for job seekers in the Gulf, especially Saudi Arabia. With the rapid growth in the banking and financial services companies in the Gulf, there is an employment boom in this sector, according to latest statistics by GulfTalent.com, an online employment service for the Gulf region.." [more]

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

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