Saudi-US Relations Information Service


Keeping Track - Recently on SUSRIS


Rollover image for info		Rollover image for info

	Rollover image for info		Rollover image for info

"Lois Ruble lived in Dhahran, Saudi Arabia from 1977 to 1999 working as a nurse for Saudi Aramco. She had the opportunity to work alongside, treat and converse with Saudi women. She observed them within the Aramco company compound and came to understand how Saudi women lived outside the compound with their families and within the Saudi community. On February 16, 2006, Lois led a discussion sponsored by the San Diego World Affairs Council on the lives of Saudi Arabian women.." [ Story on AramcoExpats.com ]

Saudi Arabia: Students to Participate in Workshops Aimed at Developing a "Culture of Dialogue"

Riyadh, Asharq Al-Awsat- Faisal Bin Mouammer, the Secretary General of the King Abdulaziz Center for National Dialogue revealed that the center intends to hold training sessions for high school students concerning the culture of dialogue. In addition, the center will be launching introductory workshops for the sixth conference for national dialogue in the thirteen Saudi provinces to entail the whole of society. [ Awsat ]

"China is ready to strengthen exchanges with Saudi Arabia at all levels and raise bilateral relationship to a higher level, said Chinese Foreign Minister Li Zhaoxing here on Wednesday. Li made the remarks when meeting with Saudi Prince Bandar Bin Sultan Bin Abdulaziz Al Saud, secretary-general of Saudi National Security Council. Li said that the friendly cooperation between China and Saudi Arabia has scored considerable achievements since the establishment of diplomatic ties between the two countries.." [ Xinhua ]

Kingdom Denies Nuke Report [Apr 1]
"Saudi Arabia yesterday denied a German magazine report that it was working on a secret nuclear program with the help of Pakistani experts. The report 'is totally unfounded,' a Defense Ministry spokesman told the Saudi Press Agency, adding that Riyadh 'advocates imposing nuclear non-proliferation in the (Middle East) region'.." [more]

Saudi King: Gradual Reform Needed [Apr 1]
"Gradual reform will bring the kingdom closer to the rest of the world without violating the principles of Islam, said Saudi Arabia's King 'Abdallah on Saturday during his first annual address to the advisory Shoura Council .. ..'We cannot remain rigid while the world around us is changing,' the monarch said.." [more]

Saudi Arabia: Students to Participate in Workshops Aimed at Developing a "Culture of Dialogue" [Apr 1]
"Faisal Bin Mouammer, the Secretary General of the King Abdulaziz Center for National Dialogue revealed that the center intends to hold training sessions for high school students concerning the culture of dialogue. In addition, the center will be launching introductory workshops for the sixth conference for national dialogue in the thirteen Saudi provinces to entail the whole of society.." [more]

Educational Research Project Set to Kick Off [Apr 1]
"The Ministry of Higher Education’s “Aafaq” (Horizons) project to set long-term goals for the Kingdom’s system of higher education will kick off today. King Fahd University of Petroleum and Minerals will spearhead the project, which will address a variety of subjects such as architecture, higher education for women, and scientific research.." [more]

Deiss Seeks Arab Investment Opportunities [Mar 31]
"Swiss Economics Minister Joseph Deiss has begun a four-day visit to the Middle East, hoping to drum up business in oil-producing Saudi Arabia and Kuwait.. ..In Saudi Arabia, Deiss is set to meet with the local trade and finance ministers, as well as King Abdullah. An agreement on the promotion and reciprocal protection of investments is to be signed during Deiss's visit.." [more]

Turki of Arabia [Mar 31]
"Prince Turki has seen both sides of the war on terror: in 1998 he came agonizingly close to convincing the Taliban regime to extradite Osama bin Laden to Riyadh, while in 2002 he was named as a defendant in an ultimately unsuccessful lawsuit claiming he and two other Saudi princes helped finance the attacks of 9/11. On a recent trip to speak at the Kennedy School of Government, he graciously agreed to speak with the HPR.." [more]

Saudi Arabia's WTO Membership Positive for Economy [Mar 31]
"Saudi Arabia's membership of the World Trade Organisation (WTO) is broadly positive for the economy, according to the latest Samba report titled 'Saudi Arabia and the WTO'.. ..This report is intended to fill a gap between the detailed, and lengthy and legalistic Saudi WTO Accession Protocol documents, and the more cursory media treatment of Saudi WTO membership'.." [more]

29 Countries Surpass One Billion Worth of IPOs [Mar 31]
"No fewer than 29 countries - including Brazil, Egypt, Greece, India, Israel, Kazakhstan, Malaysia, Poland, Saudi Arabia, South Korea and the UAE - each hosted more than $1 billion worth of IPOs last year, marking a globalization trend set to continue through 2006, according to Accelerating Growth, the third annual Global IPO Report released by leading professional services provider Ernst & Young.." [more]

Signs of Warming Sino-Saudi Ties [Mar 31]
"Sun Bigan, China's new special envoy for Middle East Affairs said President Hu Jintao was keen to solidify growing ties with Saudi Arabia as soon as possible. The Chinese and Saudis have a convergence in long term strategic interests. China wants to bump up solid supplies of Saudi oil by establishing refineries and strategic reserves in key coastal provinces. Meanwhile, the kingdom is looking to diversify its customer base as a way to keep prices up and the dependence on United States down.." [more]

Privatization Jab for Ailing Health Sector [Mar 31]
"The Ministry of Health (MoH) is working out a plan to fully privatize the health sector, said Health Minister Hamad Al-Manea. He told reporters at King Fahd Medical City in Riyadh last Wednesday that although the ministry is directly responsible for all the problems and shortcomings that often take place in the sector, the reform process remains a far-reaching goal because of the complexity and nature of these problems. The ministry found that privatization is the best solution to these deficiencies.." [more]

Would CMA Abandon Thursday's Trades [Mar 31]
"Traders and bankers speculated Wednesday the possibility that the Capital Market Authority (CMA) could call-off coming Thursdays as stock trading days. This possibility came along the heels of canceling yesterday, in a consecutive, four-sessions week-ends, to align the electronic trading system (Tadawul) with the Council of Ministers (COM) directive to split stock values into 20 percent equal parts. CMA officials declined comments.." [more]

Saudi Woman to Defend Saddam [Mar 31]
"A Saudi woman lawyer has joined the team defending ousted Iraqi leader Saddam Hussein and seven former aides from charges of crimes against humanity, Al-Hayat newspaper said Wednesday. Reem Al-Habib, 29, told the paper she has received preliminary approval to join the team and is awaiting a formal response to her request from the Iraqi bar association in Baghdad. It is a personal decision and does not represent the position or point of view of the Saudi government.. ..She is a graduate of Harvard Law School in the United States.." [more]

King to Address Shoura [Mar 31]
"Custodian of the Two Holy Mosques King Abdullah will deliver the annual address to the Shoura Council outlining the domestic and foreign policy of the Kingdom on Saturday. The king is scheduled to address the opening session of the council at its headquarters here.." [more]

NSHR Outlines Organization’s Challenges [Mar 31]
"The National Society for Human Rights officially opened its doors in the Eastern Province this week.. ..President Bandar Al-Hajar.. ..expressed his helplessness to solve all the complaints received by the society. He said it was only a watchdog organization to see if government departments are implementing regulations.." [more]

Saudi Industrialists Sign JV Agreement [Mar 30]
"Tertiary Minerals plc ('Tertiary' or 'the Company') today announced that its Saudi partners ('the Consortium') have signed the Joint Venture Agreement for the US$7 million funding of feasibility studies on its world-class Ghurayyah tantalum-niobium project in Saudi Arabia. Ghurayyah, in production, is planned to supply 10p.c. of world supply for tantalum which is used in most mobile phones and computers and other electronic circuitry.." [more]

Saudi Arabia Looks Eastwards for Higher Education Part 1 [Mar 30]
"Saudi Arabia has announced plans to send more students to Asian countries including China, India, Singapore, Malaysia and South Korea, for tertiary level studies in medicine, science and engineering, following recent visits to China, India and Malaysia by His Majesty King Abdullah bin Abdul Aziz Al-Saud.." [more]

Saudi Education Strengthens its Domestic Base Part 2 [Mar 30]
"Newly announced plans for an $80 million university in Saudi Arabia's Eastern Province, the Prince Muhammad ibn Fahd University, underline a commitment to strengthen domestic institutions of higher education in the Kingdom, and a possible shift away from overseas study. For this latest venture a coalition of 32 American universities under the umbrella of the Texas International Education Consortium will help set up and run the new university for two years after it opens.." [more]

Pakistan Rejects Report on Secret Nuclear Help to Saudi Arabia [Mar 30]
"Pakistan rejected as "fabricated" a German magazine report that said Saudi Arabia was working secretly on a nuclear programme with help from Pakistani experts.. ..Dismissing the report, the foreign office spokeswoman here said 'Pakistan has a unilateral commitment to non-proliferation'.." [more]

Exhibition to Showcase Construction Boom - KSA [Mar 30]
"A five-day exhibition featuring all aspects of the booming construction sector opens at the Jeddah International Exhibition & Convention Center on Saturday.. ..In addition to Gulf exhibitors, companies from Turkey, Italy, Germany, China, India, Taiwan and Malaysia are all participating alongside a large contingent from leading Saudi companies.." [more]

Dubai Edition of Arab News to Launch on April 1 [Mar 30]
"The Dubai edition of Arab News, leading English language daily from Saudi Arabia, will hit the stands on April 1. The daily, with a significant presence in the Arab World, would be entering the UAE market with a nominal presence to cater to Saudi nationals who live and work here, its Editor-in-Chief Khaled Al Maeena said.." [more]

The Issue of Women in Government in Islamic Countries [Mar 30]
"A majority in all but one of eight predominantly Islamic countries included in a recent Gallup World Poll analysis agree that women should be allowed to hold leadership positions, but majority levels range widely, from 54% to 91%. Only in Saudi Arabia does less than a majority agree.." [more]

All Incoming Foreigners to Get Medical Examination [Mar 30]
"All foreigners coming to the Kingdom will be medically examined for contagious diseases, instead of only those from certain nationalities, according to the Arabic daily Asharq Alawsat. Under the new measures, the Ministry of Health made it mandatory for all expatriates coming into the country with new work visas to immediately conduct medical tests for hepatitis A and B before taking up their jobs.." [more]

Saudi Stocks Jump in Thin Trading [Mar 30]
"The rally in Saudi shares entered its third day yesterday but trade was thin with investors clinging to stocks in the hope of making a profit as the market pulls out of a sharp decline. The Tadawul All-Share Index (TASI) closed 4.57 percent up at 17,060.34 points, having risen as much as 4.84 percent during the session.." [more]

Guidance Councils Urged in GCC Prisons [Mar 30]
Saudi Arabia has called for the establishment of guidance councils within Gulf prisons. The proposal was made at a meeting here on Monday of the heads of rehabilitation centers and correctional facilities in the six Gulf Cooperation Council member states.." [more]

Saudi Security Forces Foil Terror Attack [Mar 29]
"Saudi security forces discovered and disarmed explosive devices planted in two separate vehicles near Saudi Arabia's largest oil refinery.. ..The paper said security forces broke into a house in al-Muntaar town on Tuesday where Saudi Arabian Oil Company Aramco employees live, to find two booby-trapped cars with the company's logo on them.." [more]

Singapore-Saudi Arabia Business Council Set to be Announced in April [Mar 29]
"Plans to set up a Singapore-Saudi Arabia Joint Business Council are in the pipeline, according to senior officials from the Saudi Chambers of Commerce. An announcement is expected during the forthcoming visit by the Saudi Crown Prince to Singapore in April.." [more]

40 'Militants' Held in Saudi Arabia [Mar 29]
"Forty suspected militants have been arrested in Saudi Arabia over the last several days.. ..Some were apprehended in eastern Saudi Arabia, where the Abqaiq oil processing facility was attacked last month. The source could not say at this point whether any of those arrested were linked directly or indirectly to the attack.." [more]

Saudi Arabia Refuses to Host Next Arab Summit [Mar 29]
"Saudi Arabia said on Wednesday that it did not want to host the next Arab League (AL) summit in 2007, recommending Egypt as the host country. A Saudi delegate made the announcement while addressing the final session of the two-day Arab summit in Khartoum, but gave no reason for his country's refusal.. ..Saudi Arabia is responsible for hosting the next summit as a rotating chair country in 2007.." [more]

Swicorp Awarded Investment Banking License by Saudi Capital Market Authority [Mar 29]
"The Capital Market Authority (CMA) of the Kingdom of Saudi Arabia has awardedSwicorp, a premier investment banking and private equity firm focused on the Middle East and North Africa (MENA) region.. ..Swicorp will be incorporated as a Saudi closed joint stock company in partnership with a consortium of leading Saudi corporations and individuals.." [more]

Saudi Arabia Working on Secret Nuclear Program with Pakistan Help [Mar 29]
"Saudi Arabia is working secretly on a nuclear program, with help from Pakistani experts, the German magazine Cicero reported in its latest edition, citing Western security sources.. ..Cicero, which will appear on newstands tomorrow, also quoted a US military analyst, John Pike, as saying that Saudi bar codes can be found on half of Pakistan's nuclear weapons 'because it is Saudi Arabia which ultimately co-financed the Pakistani atomic nuclear program'.." [more]

Top Gulf Businesswomen Say Equal Access to Labor Markets Will Boost Economic Growth [Mar 29]
"Women seeking entry to the Gulf economies need an equal playing field, not affirmative action, to be able to contribute effectively to national economic growth, leading businesswomen from around the GCC said at the first-ever Forbes Arabia debate and discussion evening held Monday night at the Madinat Jumeirah resort in Dubai.. ..The Arab world, Al Ali said, is at a crossroads, with the only route to sustainable development moving via the inclusion of women in economic circles.." [more]

Intel to Work With Regional Universities [Mar 29]
"Intel is to work with selected top universities in Saudi Arabia, Egypt and Turkey to expand university technology curricula, engage in focused research, and encourage student participation in research throughout their education.. ..Martina Roth, Director of Education, EMEA, said, “Education is the essential ingredient that will prepare us all for a changing future. We aim to reach 40 universities and 62 thousand university students by 2010 in the META region.." [more]

Sultan Calls for Military Service Reforms [Mar 29]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, yesterday emphasized the need for upgrading military service laws in order to improve the military’s standard as well as productivity of its men.. ..Lt. Gen. Nasser Al-Arfaj, secretary-general of the council, said the issue of recruiting graduates of educational institutions has been presented to the Council of Ministers.." [more]

Saudi Stock Index Leaps 767 Points [Mar 29]
"Saudi stocks kept their upward march yesterday and surged 4.93 percent after rising 4.03 percent on Monday as investors welcomed the announcements by the Capital Market Authority (CMA), the stock market regulator, on share-splitting and the reintroduction of a 10-percent trading band for share-price fluctuations.." [more]

Arab Nations Urged to Enter Nuclear Club [Mar 28]
"Secretary-General Amr Moussa called on Arab leaders Tuesday to move toward a goal of "entering the nuclear club" and making use of atomic energy for peaceful purposes. The absence of at least 10 heads of state, including President Hosni Mubarak of Egypt and Saudi Arabia's King Abdullah, raised concerns of a lackluster summit in a year where many had hoped to see serious efforts at dealing with regional troubles.." [more]

MM Lee Kuan Yew Meets Saudi Arabian Crown Prince [Mar 28]
"Singapore's Minister Mentor Lee Kuan Yew, who is on a visit to Saudi Arabia, has been briefed on the kingdom's political and business dealings with countries in the Asian region.. ..Singapore has been urging Middle Eastern nations to use the republic as a launchpad to embark on projects in the Asia Pacific region. And one country which Singapore can help the Middle Eastern market penetrate is China.." [more]

Saudi Backs Splitting of Shares [Mar 28]
"The Saudi government yesterday authorised the splitting of equities on the country's stock market in another step aimed at attracting more funds to the bourse, kicking off a rally that pushed the main stock index up more than four percent. A decision to set the nominal value of company shares at 10 riyals ($2.67) was taken during the weekly cabinet meeting chaired by King Abdullah.." [more]

Saudi Bank Foreign Assets Rise [Mar 28]
"Saudi Arabia's central bank foreign assets rose 3.97 percent in January to 585.936 billion riyals ($156.2 billion), while money supply growth continued to slow down, according to figures published by the bank. A balance sheet of the Saudi Arabian Monetary Agency (SAMA) assets seen by Reuters on Sunday showed deposits with banks abroad reached 101.37 billion riyals in January, down 11 percent from December and up nearly 50 percent from January 2005.." [more]

Senior Saudi Official Arrives in Beijing [Mar 28]
"At the invitation of Chinese Foreign Minister Li Zhaoxing, Saudi Prince Bandar Bin Sultan Bin Abdulaziz Al Saud, secretary-general of Saudi National Security Council, arrived here on Tuesday afternoon for a goodwill visit. During his stay in Beijing, Prince Bandar is expected to meet with Chinese Premier Wen Jiabao and Li Zhaoxing, .." [more]

Islamic Financing Spreads in the Middle East [Mar 28]
"In early March, Saudi Aramco and Sumitomo Chemicals wrapped up financing arrangements for a $9.9 billion petrochemical plant in the coastal city of Rabigh, marking the largest project financing to date in Saudi Arabia. Just as significantly, the funding package also included the largest-ever long-term Islamic finance tranche for any project financing in the Middle East.." [more]

SR100,000 Dampener for Foreigners [Mar 28]
"Hopes of expatriates were dashed even before they could start trading in Saudi shares.. ..Saudis need to have a minimum of SR10,000 deposit to open a portfolio.. .. In the absence of clear-cut guidelines from the Capital Market Authority (CMA), the banks had also fixed varying ceilings on the value of shares an expatriate can buy. Expatriates cannot buy more than five percent of a company s total shares through our banks, said a banker in Dammam.." [more]

Sultan’s Japan Visit to Open a New Chapter [Mar 28]
"Saudi Arabia and Japan are likely to sign a memorandum of understanding during the visit of Crown Prince Sultan Bin Abdul Aziz, Deputy Premier and Minister of Defense and Aviation, an official of the Japanese Embassy in Riyadh told The Saudi Gazette Monday.. ..The Crown Prince, who will be arriving in Japan on April 5, will have an audience with Emperor Akihitio, a court luncheon will also be hosted by the emperor in honor of the crown prince." [more]

More and More Saudi Students Looking East for Studies [Mar 28]
"There are about 150 Saudi students who are currently studying at various universities and technical institutes in China, and the number is increasing.. ..This coming school year, China is opening more government scholarship programs for Saudis in the fields of higher and specialized education as part of the new thrust to further strengthen mutual understanding and friendship between Saudi Arabia and Beijing.." [more]

Cabinet OKs Launch of Mega Bank [Mar 28]
"The Council of Ministers yesterday approved the launch of a new bank with a capital of SR15 billion. The bank, named Inmaa, will sell 70 percent of its shares in an initial public offering (IPO) this year.. ..Inmaa will carry out both banking and investment activities. State-owned Public Investment Fund, Pension Fund and the General Organization for Social Insurance will have a 30-percent stake in the bank.." [more]

Saudi Seen Reaping Record Oil Revenues in 2006 [Mar 27]
"Saudi Arabia is expected to earn record oil revenues of nearly $160 billion this year, helping the world's top oil exporter fast-track ambitious plans to expand its energy sector, economists say. High oil prices have filled state coffers with petrodollars and given Saudi Arabia budget surpluses for three years running, after two decades of low prices left the government in the red.." [more]

Voyence Partners with Saudi Arabian-Based iNet [Mar 27]
"Voyence, a pioneer in automated change and configuration management solutions, today announced that it has signed a partnership agreement with Integrated Networks (iNet) of Saudi Arabia.. ..The partnership will enable iNet to expand their existing portfolio via adding Voyence's acclaimed change and configuration management solution -- VoyenceControl NG.." [more]

As Saudi Women Diversify, So Do Ads Targeting Them [Mar 27]
"Style, quality and freshness in advertising is what attracts women consumers the most, and because women are the main buyers of a family — and increasingly income earners in their own right — what attracts women consumers is increasingly an important issue in the Kingdom.. ..said Amar Zahid, managing director of Tetra Pak, Saudi Arabia. “Women are now not simply spenders but increasingly earners, too,” he said, adding that it is important to them to follow the latest in this significant shift.." [more]

Saudi Arabia Offers Mega-Infrastructure Projects to Singapore Companies [Mar 27]
"Singapore's business corporations have been presented with a multi-billion dollar opportunity to consider mega-infrastructure projects in Saudi Arabia. The opportunities, over a 20-year period, are to the tune of US$800 billion, says the Governor of the Saudi Arabia General Investment Agency, which also wants to work closely with Singapore to launch into the Southeast Asian region. Economic ties between Singapore and Saudi Arabia are set to expand.." [more]

Saudi-Turkey Businessmen Explore Investment Avenues [Mar 27]
"Investment opportunities in Saudi Arabia and Turkey, and potential areas for further expanding bilateral trade were highlighted at a Saudi-Turkish businessmen's meeting at the Jeddah Chamber of Commerce & Industry yesterday.. ..Saudi-Turkish Business Council Chairman Dr. Ghassan Al-Sulaiman and Ali Bayramoglu, chairman of the council's counterpart organization in Turkey, spoke about growing bilateral relations and outlined how they could be exploited for furthering business and commercial interests.." [more]

Pace Calls Turkey, Saudi Arabia, Pakistan Trip 'Productive' [Mar 27]
"Marine Gen. Peter Pace called his weeklong trip to Pakistan, Saudi Arabia and Turkey "very productive," and said American military officials must continue to develop relations with such important American allies.. ..In Saudi Arabia, Pace was able to listen to concerns of King Abdullah and defense officials about Iraq and other issues in the region. Pace said the United States will try to schedule more military exercises with its Saudi ally.." [more]

Difficult Outlook for Arab Stock Markets [Mar 27]
"Investors are still shell-shocked from recent crashes, and inducements to get them back are not working. For the Arab stock markets have to face up to the new reality that their bull run is over, and begin the painful task of internal reform.. ..In Saudi Arabia the bourse has been opened up to foreign buyers for the first time, and not surprisingly after a 30% crash there are very few expatriates interested in buying stocks.." [more]

Saudi Aramco Three Takeoffs in 2006 [Mar 27]
"Last week, "Saudi Aramco" concluded with its Japanese partner, "Sumitomo Chemical," financing contracts to initiate the "PETRORabigh" project in Rabigh, one of the world's largest export-oriented refinery and petrochemical complexes, then opened its "Haradh-3" Project for oil production. In truth, these two projects form an integral part of a wide scale expansion and development campaign in all respects according to the international petroleum standards. They also reflect three basic fields where Aramco can excel in the upcoming period.." [more]

CMA Grants More Brokerage Licenses [Mar 27]
"The Saudi Capital Market Authority (CMA) announced yesterday that it had granted brokerage licenses to two new companies: Rana Investment Company and Team One Company. With the granting of licenses to these two firms the number of companies allowed to provide stock market services has risen to five. The CMA’s move to license these two firms to carry out brokerage services is part of their efforts to ease the tight grip of banks on the sector.." [more]

Prince Abdul Rahman Al-Sudairy Dies at 89 [Mar 27]
"Prince Abdul Rahman ibn Ahmed ibn Muhammad Al-Sudairy, uncle of King Fahd and former governor of Al-Jouf, died yesterday at the age of 89 after a prolonged illness.." [more]

British Royal Couple Tours Saudi Capital [Mar 26]
"Prince Charles visited a male-only technical and vocational college on Sunday, giving his support to an aggressive initiative by the Saudi government to become less reliant on an immigrant work force that performs manual jobs. His wife Camilla attended a separate function because of the strict segregation of the sexes in Saudi Arabia. She visited a multinational school, which has adopted an Australian curriculum and has 700 students from more than 30 countries.." [more]

Top Businesswomen from UAE, Saudi Arabia, Qatar, Bahrain to Debate Economic Role of Women [Mar 26]
"Four of the Arab world's most powerful businesswomen will discuss and debate the challenges and opportunities of women's participation in the economies of the Gulf countries at a special event being hosted by Forbes Arabia in Dubai tomorrow.. ..The high-profile evening is sponsored by Damas, Mercedes, Sony and NBC.." [more]

Saudi Arabian Ambassador Visits Long Beach [Mar 26]
"The city on Saturday received a visit from the Saudi Arabian ambassador to the United States during an economic and educational forum promoting business opportunities in Saudi Arabia. Prince Turki al-Faisal, son of the late King Faisal, addressed some 100 prospective investors and their friends about the 60-year relationship between the United States and Saudi Arabia,the anxiety in the Middle East and foreign investment in the new King Abdullah Economic City in Rabigh a $26 billion development that was billed as the kingdom's latest effort to boost its place in the world economy.." [more]

Saudi Prince Dies [Mar 26]
"The Saudi Royal Court announced here on Sunday the demise of Prince Abdulrahman bin Ahmed bin Mohammed Al Sidiri, maternal uncle of Late Custodian of the two Holy Mosques, King Fahd bin Abdulaziz Al Saud and Former Governor of Jouf region, who died early today of a long standing disease.." [more]

Foreign Remittances by Saudis Jump to Record SR56.28 Billion in 2005 [Mar 26]
"Personal foreign remittances of Saudis increased considerably during the past three years as it reached a record SR56.28 billion in 2005, press reports said. 'The amount transferred by Saudis for personal purposes to foreign countries rose by 87.7 percent last January to reach SR5.37 billion'.. ..Analysts attributed the increase in Saudis’ foreign remittances to their increasing participation in the initial public offerings (IPOs) of some major Gulf companies as well as to their investments in many Arab bourses.." [more]

Neste Oil Sells its 10% Stake in Saudi Arabian-Based Petrochemicals Producer for USD 120 Million [Mar 26]
"Neste Oil is to sell its 10% holding in the Saudi European Petrochemical Company Ibn Zahr to Saudi Basic Industries Corporation (SABIC) for USD 120 million. Neste Oil will book a capital gain on the sale of approximately EUR 85 million. The companies expect to close the deal during the second quarter of 2006. Following the transaction, SABIC will own 80% of Ibn Zahr shares and the remaining shareholders, Apicorp and Ecofuel SpA, 10% each. Neste Oil has been a shareholder in Ibn Zahr since its foundation in December 1984.." [more]

Saudi Stocks Drop After Market Opens to Expats [Mar 26]
"Saudi stocks fell yesterday, with brokers reporting little sign of the kingdom’s foreign residents taking advantage of rules that allowed them to invest directly in the market for the first time. Saudi Arabia opened the Arab world’s largest bourse to its 6mn foreign residents as part of a drive to inject liquidity into a market that has lost about a third of its value in the past month.." [more]

Oil Field Research Center to Benefit Kingdom: Al-Naimi [Mar 26]
"A state-of-the-art oil field research center, described as the first of its kind in the Middle East and Africa, was opened by Minister of Petroleum & Mineral Resources Ali Al-Naimi here yesterday.. ..The Schlumberger Dhahran Carbonate Research Center (SDCR) as it is named houses a team of international scientists working on oil and gas industry research projects in collaboration with other research institutes, both across Saudi Arabia and overseas.." [more]

Bid to End Saudi Probe Over Arms Deal Threat [Mar 26]
"The attorney-general, Lord Goldsmith, has been asked to block a criminal investigation into allegations that Britain’s biggest defence company ran a £60m slush fund to support the extravagant lifestyle of members of the Saudi royal family. Goldsmith has been asked by government officials to examine whether the inquiry by the Serious Fraud Office (SFO) into the slush fund allegedly run by BAE Systems is “in the public interest”. They fear it could provoke Saudi Arabia into pulling out of Britain’s biggest export contract.." [more]

Kingdom Plans to Draw Water From Desert [Mar 26]
"In an unprecedented move to quench the country’s growing water requirements, Saudi Arabia yesterday launched a SR400 million project that will pump potable water from Al-Rub Al-Khali (the Empty Quarter) to the southern Najran region.. ..Taking a baseline consumption of 300 liters per person per day, the resulting demand for water will increase to over 3,000 million cubic meters per year by 2010. The Kingdom will need a capital investment averaging nearly $2 billion per year for the next 20 years to meet projected water demand.." [more]

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 >