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Newsletter #156

April 9-15, 2006

 
In This Issue  
 

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  • What's New on SUSRIS this week:

    • Prospects for Business in the Arab World

    • Re-Open for Business to the Arab World?  Part 1 - Amb. Chas Freeman

    • Re-Open for Business to the Arab World?  Part 2 - Dr. Edward M. Graham

  • Keeping Track - Recent SUSRIS Items

  • In the News - Chinese President Visiting Kingdom Next Week  

  • On the Web - Young and Restless By Afshin Molavi  

  • In the News - Meeting the Challenge of a Fragmented Iraq: A Saudi Perspective By Nawaf Obaid

  • This Week's News - April 9-15, 2006

  • About SUSRIS

What's New On SUSRIS.org

    

   
Prospects for Business in the Arab World  

Click here for the full article.Panelists Examine Post-'DPW' Environment - By Patrick W. Ryan - The red-hot political controversy over Dubai Ports World’s acquisition of the British Peninsular & Oriental Steam Navigation Co., and assumption of leases to manage terminals in six U.S. cities, has faded from America’s front pages, radio talk shows and cable news pundit panels. But the howling of charges that some of America’s Gulf allies were too cozy with terrorists and the Taliban is still ringing in the ears of many specialists who closely follow developments between the United States and the Arab world..

 

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Re-Open for Business to the Arab World?  Part 1  

Click here for the full article.MEPC Capitol Hill Forum - Ambassador Chas Freeman - I am just back from the region, as I believe a couple of others here are. I found it full of British, French, German, Chinese, Singaporean, Japanese, and Korean businesspeople. You may notice an absence on that list, as I certainly did. I can report that the fallout from the Dubai Ports World debacle is widespread. For many people in the region who had spent the last several years, as they told me, defending the United States, a country for which they have great affection, this was the last straw. It demonstrated that Arabophobia, a fear of Arabs and Islam, was not simply a regional or elite phenomenon, but was deeply rooted throughout our country, and it demonstrated that passionate prejudice would be exploited with shameless demagoguery by our ruling political class. 

 

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Re-Open for Business to the Arab World?  Part 2  

Click here for the full article.MEPC Capitol Hill Forum - Dr. Edward M. Graham - The main reason I'm here is because in the course of doing this book I had quite a close look at the Dubai Ports World transaction. In this close look I think I detected, well, xenophobia for certain and Arabiaphobia, if that's a word, certainly a lot of politics. I mean, what an opportunity for Hillary to put herself on defense to the right of George Bush. I would like to hope to think that will come back and bite her, personally, because I think that was one of the cheapest shots that any politician could have taken. But demagoguery for the purpose of, shall we say, padding one's political résumé when one is a possible presidential candidate, that certainly seemed to be a big part of the story. 

 

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Keeping Track - Recently on SUSRIS 

Click here to read about Crown Prince Sultan's visit to Japan.  (SUSRIS / IOI / Apr. 8, 2006) Click here to read about the campaign against terrorism financing.  (SUSRIS / NID / Apr. 6, 2006)

Click here to read about the visit of Crown Prince Sultan to Japan.  (SUSRIS / IOI / Apr. 8, 2006)

Click here to read about the Arab League Summit held in Khartoum, Sudan.  (SUSRIS / NID / Mar. 26, 2006)
Click here to read SUSRIS' interview with Assistant Secretary of State David Welch.  (SUSRIS / Interview / Mar. 30, 2006) Click here for the quarterly summary of SUSRIS articles, interviews, essays and special reports.  (SUSRIS / Special / Mar. 31, 2006) Click here to read about General Peter Pace's visit to Saudi Arabia.  (SUSRIS / IOI / Mar. 24, 2006) Click here to read Samba's report on Saudi Arabia and the WTO.  (SUSRIS / IOI / Mar. 18, 2006)
Rollover image for info Rollover image for info
Click here to read an article about Saudi Arabian students seeking higher education in the "East."  (SUSRIS / IOI / Mar. 13, 2006) 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 an editorial responding to efforts to derail the Dubai Ports World dealin the U.S.  (SUSRIS / IOI / Mar. 10, 2006) Click here to read about President Chirac's state visit to Riyadh.  (SUSRIS / NID / Mar. 10, 2006)
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)

 

In the News

Chinese President Visiting Kingdom Next Week

King Abdullah and President Hu met in Beijing in January 2006.  Click for more.  (Photo: SPA)Click for complete item (HTML)"Chinese President Hu Jintao will arrive in Riyadh next Saturday on a two-day state visit to the Kingdom that points to the growing importance of a mutually important relationship. ..President Hu will hold talks with Custodian of the Two Holy Mosques King Abdullah, and he is also scheduled to visit the Shoura Council, where he will deliver a speech before its members.  “This will be the second time the two countries’ top leaders have met this year. King Abdullah visited China in January, which was his first overseas trip since ascending the throne in August last year,” the diplomat said."  [Arab News]

On the Web

Young and Restless
By Afshin Molavi

Saudi Arabia's baby boomers, born after the 1973 oil embargo, are redefining the kingdom’s relationship with the modern world

Click for complete item (HTML)Scented smoke from dozens of water pipes mingled with Lebanese pop music at Al-Nakheel, a seaside restaurant in the Red Sea port of Jeddah. Saudi men in white robes and women in black abayas, their head scarves falling to their shoulders, leaned back on red cushions as they sipped tea and shared lamb kebab and hummus. Four young Saudi women, head scarves removed, trailed perfume as they walked past. Nearby, a teenage boy snapped photos of his friends with a cell phone. At an adjoining table, two young men with slicked-back hair swayed their heads to a hip-hop song echoing from the parking lot.  “Look around,” said Khaled al-Maeena, editor in chief of the English-language daily Arab News. “You wouldn’t have seen this even a few years ago.”  [Smithsonian via NewAmerica.net]

On the Web

Meeting the Challenge of a Fragmented Iraq: A Saudi Perspective
By Nawaf Obaid

Click for complete item (HTML)During an official visit to Washington, DC on September 20th, 2005, Saudi Foreign Minister Prince Saud al-Faisal proclaimed: "US policy in Iraq is widening sectarian divisions to the point of effectively handing the country to Iran..  ..We fought a war together to keep Iran out of Iraq, now we are handing the whole country over to Iran without reason.. ..Iraq is disintegrating.  This report explores a Saudi view of the ramification of these comments and provides a factual background to them.."  [CSIS

 

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News This Week - April 9-15, 2006

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

Interior Ministry Probes Suspected Terror-Funding [Apr 15]
"The financial intelligence unit at the Ministry of Interior has been monitoring several sources possibly offering financial support to terrorist operations in the Kingdom, press reports said yesterday. 'The unit has received several reports of suspicious financial dealings and it is taking required measures to foil them,' Al-Jazirah newspaper quoted Interior Ministry spokesman Maj. Gen. Mansour Al-Turki, as saying.." [more]

Shoura Member Speaks for Families Abandoned Abroad [Apr 15]
"A Shoura Council member has urged the consultative body to study problems faced by foreign wives and children of Saudis who abandon them abroad when returning to the Kingdom. 'It is a pressing issue worrying several families who have been left in Arab countries, such as Syria and Egypt,' said council member Hamad ibn Al-Dueij.." [more]

Plunge in Saudi Stocks to Affect Other Markets [Apr 15]
"Arab stock markets are expected to maintain their cautious approach in the coming couple of weeks with offshoots from a historic Saudi nosedive leaving their impact on investors throughout the region, analysts said yesterday.. ..However, the analyst said the Saudi stock market and other Arab bourses would “benefit in the long run” from surging oil prices and the subsequent huge surplus petrodollars.." [more]

Saudi Shares Fell by 11.15 on the Week [Apr 14]
"Saudi shares fell by 11.15 percent on the week ending Thursday. The Tadawul All-Shares Index (TASI) closed the week at 15,694.84 points, up from last week's close of 17,665.07.." [more]

Kingdom’s Support for Hamas Unwavering [Apr 14]
"Crown Prince Sultan yesterday reaffirmed Saudi Arabia’s unwavering support to Palestinians and said the victory of Hamas in January parliamentary elections would not affect this historic stand. 'We believe that Hamas is part of the Palestinian people and we’ll not differentiate between Hamas and others. They are all our brothers and friends,' he said.." [more]

Middle East Focus: Saudi Arabia [Apr 14]
"This is the fourth installment of a series on countries in the Middle East. Saudi Arabia is a kingdom of 27 million people situated on the Arabian Peninsula in the Middle East. Why is Saudi Arabia important for oil? 'The country claims the largest oil reserves in the world, over 250 billion barrels, which is about 40 percent of all the region’s reserves. This makes Saudi Arabia an influential country in a world whose major industrial nations rely on access to fossil fuels at affordable prices'.." [more]

New System for Tourist Visas in the Process [Apr 14]
"The Supreme Commission for Tourism (SCT) is in the process of implementing the tourist-visa system through a limited number of tourist companies in the Kingdom in a bid to promote the country’s tourism industry. According to informed sources, the SCT has authorized seven tourism companies in the Kingdom to bring in foreign tourists, who will be allowed to visit all places in the Kingdom except Makkah and Madinah.." [more]

Oil Price Smashes Through $70 [Apr 14]
"The price of Brent North Sea crude oil broke through $70.00 per barrel for the first time yesterday, fueled by heightened tensions between Iran and the international community. The price of Brent crude for June delivery jumped 34 cents to reach $70.20 per barrel at 16:45 GMT. It later stood at $70.18, an increase of 32 cents from Wednesday’s close.." [more]

Saudi Arabia 18th, UAE 24th Top Oil Exporters [Apr 14]
"Saudi Arabia, the world’s leading oil producer, was the 18th top exporter in the world with the Middle East, Africa and the CIS, the world’s largest net exporters of fuels, benefiting from the rise in fuel prices and increased their merchandise exports values between 29 percent and 36 percent in 2005, says the latest World Trade Organization report.." [more]

Prince Ahmad Says No Political Prisoners in Jails [Apr 14]
" Deputy Interior Minister Prince Ahmad has denied there was any political prisoner in the Kingdom’s jails, Asharq Al-Awsat, a sister publication of Arab News reported yesterday. Speaking to the press after opening the historical picture archives of the Model Asima Institute in Riyadh, Prince Ahmad said that the country did not imprison any person on political grounds.." [more]

Saudi Crown Prince Donates US$1.5M to Local Community and Education Services [Apr 13]
"The Crown Prince of Saudi Arabia has donated US$$1.5 million to Singapore's community and education services. Prince Sultan Bin Abdulaziz Al-Saud named the three beneficiary organisations during his visit to Singapore. They are the Muhammadiyah Association of Singapore, the Muslim Missionary Society of Singapore, and Madrasah Al-Irsyad.." [more]

State Funds Help Saudi Shares Pull Out of Plunge [Apr 13]
"State funds bought Saudi blue chips on Wednesday and helped the Arab world's largest bourse to rise, recovering some ground from a record-breaking sell-off triggered by a crackdown on alleged market manipulation. The slide threatened to spill into a third day when the main Saudi index fell 3.9 percent in morning trade to breach lows hit on March 14, when shares tumbled across the Gulf and ended a months-long rally powered by record oil prices.." [more]

SNC-Lavalin Signs Oil Contract as Saudi Seeks to Boost Output [Apr 13]
"SNC-Lavalin Group Inc., Canada's biggest engineering company, signed a contract to boost oil production capacity at Saudi Arabia's Shaybah field by 50 percent as the country undertakes to increase overall output. The project is designed to increase the field's output capacity by 250,000 barrels a day of oil by 2008.." [more]

CDs of Al Qaeda Military Works Distributed in Saudi [Apr 13]
"Security forces in Saudi Arabia are on the lookout for unknown persons in the Al Qaseem region, who are believed to have distributed envelopes with CDs inside, containing models of Al Qaeda military works, anthems of suicide bombers, and advice by some men wanted by the authorities in the kingdom.." [more]

Harris School Welcomes Saudi Prince [Apr 13]
"Seeking to promote greater understanding between cultures and to learn more about American views of his country, Prince Turki Al-Faisal, the new Saudi Ambassador to the United States, will visit the University later this month, as a guest of the Irving B. Harris School of Public Policy Studies. 'The Harris School is delighted to host His Royal Highness, Prince Turki Al-Faisal, during his visit to the University of Chicago,' said Susan Mayer, Dean of the Irving B. Harris School of Public Policy.." [more]

Can Saudi Arabia Keep Up With the Expanding Demand? [Apr 13]
"The world's only oil superpower boosted its output last month, beginning two projects that are part of a $55 billion effort to keep pace with the world's ever-growing thirst for oil. However, demand for crude oil from the world's première source of energy is rising so fast -- by about 2 million barrels a day each year -- that even Saudi Arabia's vast resources will be unable to cope without drastic help, oil executives and analysts say.." [more]

Forum Participants Demand Physical Education for Girls [Apr 13]
"Participants in an educational forum here demanded yesterday the introduction of physical education in the Kingdom’s girls schools. Ayesha Al-Shahri, director of security at the Asir education department, said: 'Sports education cannot be ignored because, according to the old adage, a healthy mind exists in a healthy body'.." [more]

J. Ray McDermott Wins Two New Contracts Offshore Saudi Arabia [Apr 13]
"J. Ray McDermott, S.A. (J. Ray) announced that two of its subsidiaries have won contracts from Saudi Aramco to supply platforms and pipelines for the Additional Maintain Potential Facilities project. Both contracts are lump sum turnkey and these are the first such contracts for Saudi Aramco to commission in the offshore environment.." [more]

Large Saudi Delegation Heading for Euro-Arab Talks [Apr 13]
"A large Saudi delegation is taking part in the first Euro-Arab Dialogue Forum set at the Arab World Institute in Paris from April 26-28. The theme of the forum is “Prospects and contents of a Euro-Arab strategic partnership. 'It’s a strong diplomatic gesture that falls within the continuity of the state visit of French President Jacques Chirac to Saudi Arabia in early March,' Saleh Bakr El-Tayar, secretary-general of the Franco-Arab Chamber of Commerce, said.." [more]

Oil Prices Rise to Record High [Apr 13]
"The price of Brent North Sea crude reached an all-time peak of $69.97 per barrel in yesterday trading on news of falling US gasoline stockpiles, combined with heightened tensions over Iran. Yesterday, the price of Brent crude for May delivery was 24 cents up at $69.55 per barrel in electronic deals. New York’s main contract, light sweet crude for delivery in May, rose 12 cents to $69.10 per barrel in pit trading.." [more]

$3.8bn Saudi Aluminum Smelter Signals Major Diversification [Apr 12]
"After several years deliberation the Saudi government has approved construction of a $3.8 billion aluminium smelter. The plant, to be developed by state-owned mining company Maaden, will be built at Ras Az Zour industrial zone in central eastern Saudi Arabia. Aluminium exports could begin in 2008.. ..Analysts predict an eight million tonnes-year deficit in aluminium supplies by 2010 if recent levels of world economic growth continue.." [more]

Saudi Arabia to Establish National Security Court [Apr 12]
"Saudi Arabia would soon establish a National Security court, said Saudi Minister of Interior Prince Nayef bin Abdul-Aziz, stressing that no terrorism suspect would be excluded from trial.. ..He stressed that detainees were not kept in jail unless they were sentenced by the court and that the Interior Ministry released a number of detainees in terrorism cases who were proven to be innocent.." [more]

Saudi Arabia: Al-Qa'ida Critic Arrested for Destructive Thoughts [Apr 12]
"Saudi authorities in the northern city of Ha'il should immediately release Rabbah al-Quwai'i, a journalist for Riyadh's al-Shams newspaper, Human Rights Watch said today. The group also urged Turki al-Sudairy, Saudi Arabia's minister for human rights, to open a public inquiry into the role of the country's security and intelligence services in al-Quwai'i's arrest.." [more]

Singapore to Explore Saudi Arabia's Business Potential [Apr 12] 
"Singapore companies need to explore the immense potential business opportunities in Saudi Arabia, Singapore's Minister for Trade and Industry Lim Hng Kiang said here Tuesday at a business seminar.. ..Saudi Arabia is Singapore's largest trading partner in the Middle East with bilateral trade growing by over 50 percent to reach 10 billion U.S. dollars in 2005. It is also Singapore's largest foreign investor from the Middle East.." [more]

Saudi Cultural, Educational Event to Be Held in Vienna [Apr 12]
"Minister of Higher Education Dr. Khaled Al-Angari will inaugurate on April 24 a five-day educational-cultural event in Vienna to highlight the Kingdom’s progress in that field. The event, the sixth in a series, is different from “Saudi Arabia Yesterday and Today” in that the focus is on the Kingdom’s strides on the scientific, educational and cultural fronts. Previous venues of the event known as “Saudi Scientific Cultural Days” include the UAE, the US, Morocco, Jordan and Syria.." [more]

Iran's Larijani Confers with Saudi King Abdullah [Apr 12]
"Secretary of Iran's Supreme National Security Council Ali Larijani held talks with Saudi King Abdullah bin Abd al-Aziz on bilateral issues and ways to develop mutual cooperation, IRNA reported. Larijani and King Abdullah reviewed the situation in the region especially in Iraq and Iranian nuclear program. King Abdullah emphasized the need for developing Tehran-Riyadh relations in all domains and said that the Islamic Republic of Iran is an important state in the region.." [more]

SRMG IPO Oversubscribed 132 Percent in Three Days [Apr 12]
"The initial public offering (IPO) of Saudi Research & Marketing Group (SRMG) was oversubscribed by 132 percent in three days.. ..SRMG has offered 24 million shares for SR46 each with a total value of SR1.104 billion in the IPO, which was launched on Saturday and will continue until April 17.." [more]

Sultan Affirms Look-East Policy [Apr 12]
"Crown Prince Sultan yesterday emphasized Saudi Arabia’s look-East policy and called for strengthening Arab-Asian ties.. ..The crown prince was delivering a lecture on, “Asia-Middle East Cooperation: Challenges and Opportunities.” The institute’s auditorium was filled with foreign diplomats, academics and leaders of business and industry.." [more]

Indonesian President to Visit Kingdom [Apr 12]
"Indonesian President Susilo Bambang Yudhoyono will begin a nine-day official trip to four Gulf states later this month.. ..President Yudhoyono will arrive in Riyadh on April 25 and then go to Kuwait, Qatar and the United Arab Emirates, said Helmi Jasim Sebubaker, a presidential spokesperson. Helmi said the president, accompanied by 30 to 50 officials and businessmen, would hold talks with Custodian of the Two Holy Mosques King Abdullah and other Saudi officials.." [more]

Saudi Stocks Continue to Dive [Apr 12]
"The Saudi stock market continued to plunge yesterday. The Tadawul All-Share Index (TASI) dropped 968.30 points or 6.01 percent to close yesterday at 15,130.76. The index, which went below 15,000 mark during the day, lost 2,426.26 points in two days of trading.." [more]

Saudi Arabia Prince Reiterates Oil Plans [Apr 11]
"Saudi Arabia plans to increase its crude oil production capacity to 12.5 million barrels a day from about 9.5 million barrels a day, the kingdom's Crown Prince said Tuesday. The kingdom is keen on "stabilizing the market in order to support the development of the world economy," said Prince Sultan bin Abdul Aziz Al-Saud at a public lecture during his visit to Singapore.." [more]

China's President Heading to Middle East [Apr 11]
"President Hu Jintao is heading to Saudi Arabia and Africa immediately following his visit to the United States later this month, the Foreign Ministry said Tuesday. Hu will visit Saudi Arabia, the world's largest oil exporter, from April 22 to 24, where he will make a speech to the kingdom's Consultative Council, its version of parliament, said ministry spokesman Liu Jianchao. The visit comes as China aggressively courts the world's major oil suppliers as it seeks new oil and gas deposits to fuel its power-hungry economy.." [more]

Saudi Crown Prince Says Terrorism Still the Main Global Challenge [Apr 11]
"Terrorism is still the main global challenge, even as world economies explore opportunities overseas. That is one key issue Asia and Saudi Arabia faces, said the Crown Prince of Saudi Arabia, when he delivered the 28th Singapore lecture. Sultan Abdul Aziz Al-Saud also urged the world to step up efforts to promote understanding to combat terrorism.." [more]

Saudi Stocks Extend Losses; Regional Bourses Decline [Apr 11]
"Saudi stocks fell as much as 4 per cent early on Tuesday, extending losses from their record-breaking plunge the previous day and spilling across the world's biggest oil exporting region. The main Saudi all-share index dropped to 15,401.35 points minutes after opening, following the 8.3 percent drop on Monday, its steepest one-day decline on record.." [more]

Saudi Denies Security Barrier With Iraq [Apr 11]
"Saudi Arabia has denied foreign press reports that it plans to build a security barrier along its border with Iraq to beef up control over infiltration. Interior Ministry spokesman Maj. Gen. Mansour Turki was quoted in daily al-Riyadh as saying Tuesday that no barrier will be built along the 562-mile border with Iraq as part of an overall plan to increase the oil-rich kingdom's defense along its 4,062-mile borders. 'We are currently conducting a study on technical defense systems which we can use to beef up security measures along the border'.." [more]

Crude Oil Prices are Revised - KSA  [Apr 11]
"The Council of Ministers yesterday fixed bench prices for heavy crude and other crude oils at between 4.90 and 6.30 halalas per liter for all consumers at all distribution centers, the Saudi Press Agency said. The Cabinet meeting, which was chaired by Custodian of the Two Holy Mosques King Abdullah, decided that the crude oil prices would be revised every five years in the light of international energy prices. 'The prices will remain the same for 10 years for clients who sign long-term purchasing contracts with Saudi Aramco,' the Cabinet said, adding that the period would be calculated from the date on which the contract was signed.." [more]

Spanish City Honor for King Fahd [Apr 11]
"The Spanish resort city of Marbella has declared the late King Fahd “an adopted son” of the city following a proposal approved unanimously by Spanish officials. “This prestigious proclamation on the part of the city recognizes the importance of the Saudi royals, particularly the late King Fahd, for Spain amid growing relations,” Manuel Cacho, a spokesman of the Spanish Foreign Ministry, said.." [more]

US Approves Alwaleed’s Plan to Acquire Fairmont [Apr 11]
"The US Federal Trade Commission (FTC) has approved plans by Kingdom Holding Company Chairman Prince Alwaleed ibn Talal to acquire Fairmont Hotels and Resorts for $3.9 billion. The FTC’s approval of the acquisition was direct and confirms the non-discriminatory policy of the United States in welcoming foreign investors, especially Arab investors. The FTC’s approval re-affirms Prince Alwaleed’s longstanding strong relationship and presence in the United States.." [more]

SR40 Million to Develop Yanbu Port [Apr 11]
"Transportation Minister, Dr. Jubara Al-Seraisari, has signed the contract with Hotafield Saudi Company for the first phase of deepening the entrances and docks of King Fahd Industrial Port for SR40 million. Work is to be completed within 18 months. According to Al-Madinah newspaper, this contract is part of agreements to develop and raise operational standards to increase its capacity of receiving large ships.." [more]

Saudi Arabia Must Act to Contain Iraq Strife - Study [Apr 10]
"Saudi Arabia should try to avert Iraq's fragmentation by lobbying against any premature withdrawal of U.S. forces and by pressing Iran to stop meddling, a report by a security adviser to the Saudi government says.. ..The report, released by the U.S.-based Center for Strategic and International Studies, was based on dozens of interviews with military and intelligence officials in the region, and numerous conversations with Iranian officials.." [more]

$5B Investment Fund to be Established by Saudi and Spanish Firms [Apr 10]
"A $5 billion joint investment fund will reportedly be established by Saudi and Spanish companies in the Kingdom following the recent signing of a bilateral agreement between the two countries to encourage investments. The decision to do so was decided upon during the visit of King Juan Carlos to Saudi Arabia this week.." [more]

Spanish Monarch on Official Visit to Saudi Arabia [Apr 10]
"King Juan Carlos of Spain visited in Riyadh the Saudi Consultative Council Sunday where he reviewed issues of mutual interest, including enhancing bilateral relations in various spheres, particularly in the parliamentary domain.. ..Juan Carlos and Queen Sofia started a three-day official visit to Saudi Arabia Saturday.." [more]

Human Rights in Saudi Arabia Governed by Islamic Law [Apr 10]
"Visiting General Director of the curriculum development department at the Saudi Ministry of Education Dr. Saud Al-Zahrani said on Monday human rights in Saudi Arabia are governed by the Islamic law which guarantees justice and equality.. ..Saudi Arabia is currently preparing a national strategy to educate people on human rights through its schools' curriculum, he added.." [more]

New SR 200 Million Saudi Jewellery Stock Company Approved [Apr 10]
"Minister of commerce and industry Dr Hashim Yamani has approved the establishment of Lazawardi Jewelry Company as a Saudi stock company with a capital of SR 200 million. The capital is divided into four million shares, and the value of each share amounts to SR 50. The company's founders have already paid the total capital.." [more]

Sultan, Saleh Discuss Iraq [Apr 10]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, held talks in Hong Kong yesterday with Yemeni President Ali Abdullah Saleh on major regional and international issues with an emphasis on Iraq and Palestine. Sultan begins his three-day official visit to Singapore today.. ..The royal visit to Singapore, which begins today, is expected to strengthen political and economic cooperation between the two countries.." [more]

National Dialogue Culture Gains Momentum [Apr 10]
"An official of the Riyadh Chamber of Commerce and Industry (RCCI) has underlined the importance of maintaining momentum to ensure the success of the National Dialogue programs.. ..'What is needed now is to continue and ensure success in turning the dialogue culture into our way of life,' RCCI Secretary-General Husein Abdurahman Al-Athel said in an interview. 'There are very strong indications that most people in the Kingdom have shown readiness to accept the new dialogue culture'.." [more]

Separate IPO for Al-Madina: Prince Faisal [Apr 10]
"A separate IPO (initial public offering) will be launched for Al-Madina Printing & Publishing Company this year or early next year, Prince Faisal Bin Salman, chairman of Saudi Research & Marketing Group (SRMG), announced yesterday.He said 40 percent of SRMG shares on offer in the IPO were sold out on the first day of the launch.. ..Prince Faisal spoke in detail about the group’s IPO, the first by a media organization in the Arab world, offering some 24 million shares to the public at the rate of SR46.." [more]

SRMG Profit Soars 120% in 1st Quarter [Apr 10]
"Saudi Research & Marketing Group’s (SRMG) first-quarter net profit this year grew by 120 percent to SR61.1 million compared to the same period last year when the figure was SR27.8 million.. ..The report augurs well for the initial public offering (IPO) of the group which began on Saturday. The company is offering some 24 million shares for SR46 per share. Prince Faisal said the flotation of shares would be a 'qualitative addition' to the Saudi stock market because of the company’s strong financial standing.." [more]

Thai-Saudi Relations Looking Up [Apr 9]
"The top Thai diplomat in Saudi Arabia said this morning that he is optimistic that ties between Bangkok and Riyadh will soon be back to normal.. ..There have effectively been almsot no relations between Thailand and Saudi Arabia for the past 20 years. The theft of jeweler from a Saudi princess and the unsolved murders of several Saudi diplomats in Thailand resulted in Saudi Arabia virtually ignoring Thailand. All Thai workers were sent home, Thai Airways International was barred from flying to Saudi Arabia, the Saudi diplomatic staff was mostly withdrawn and the embassy downgraded and Saudi Arabia even prevented much trade. Saudi citizens were barred from travelling to Thailand, costing the tourist industry millions of dollars.." [more]

New King Faces Challenges as he Moves His Country Toward More Openness [Apr 9]
"In the seven months since Saudi Arabia's new monarch, King Abdullah, took the throne, there have been small but striking signs that he is leading his country toward more openness.. ..No one expects Abdullah's ride to be smooth, though. He needs to keep the reform momentum going despite reported differences within the royal family over the pace and direction of change. In addition, he must worry about militants still active in Saudi Arabia. The Feb. 24 attack in which suicide bombers tried but failed to get past the perimeter of the world's largest oil processing facility in Abqaiq was a reminder of the harm radicals can still inflict.." [more]

Kingdom Promises Aid to UN Fund [Apr 9]
"The Kingdom has agreed to provide aid to the UN Central Emergency Response Fund, which has so far received $260 million from 40 countries and is still short of $200 million in emergency aid for the victims of humanitarian disaster in Africa, the Middle East and Afghanistan.." [more]

Glitch Mars Saudi Stock Trading [Apr 9]
"The Saudi stock market recovered slightly at the close as a glitch marred trading yesterday. The market extended morning trading by one hour after it had frozen transactions for more than one hour to recalculate the Tadawul All-Share Index (TASI) after a 5-1 share split in the telecom and banking sectors. Trading in the four banks to remain on hold until today.." [more]

LG to Build Saudi Air Conditioner Factory [Apr 9]
"LG Electronics is to build its ninth air conditioner factory worldwide in Riyadh, Saudi Arabia by next year, the company said on Sunday. Under a joint venture with a local Saudi Arabian distributor, H.G. Ibrahim Shaker, the company will invest 51 percent of the $30-million factory with the balance being taken up by the Saudi firm.. ..'Saudi Arabia is the biggest market in the Middle East'.." [more]

Saudi Foreign Minister Says Iraq Is In Civil War [Apr 9]
"Saudi Arabia's foreign minister, Prince Saud al-Faisal, today became the second senior Middle Eastern political figure in two days to call the violence in Iraq a civil war. Prince Saud said the definition of civil war is that the people of a country are fighting each other and that, by that standard, Iraq must be seen as in being in a state of civil war. He said the Arab League must work to bring the Iraqi sides together to avoid what he called a "disaster" for the region.." [more]

Saudis Invest in Two Major Steel Projects in Pakistan [Apr 9]
"Saudi Arabia has come up prominently in Pakistani steel sector. Saudis have invested in two major projects — a state of the art new steel plant, and purchase of Pakistan’s biggest steel mill. The $ 130 million Tuwairqi Steel Mill (TSM), being built by Saudi Arabia’s biggest steel producer, Dr. Hilal Hussain Al-Tuwairiqi, Chairman of Al-Tuwairqi Group of Companies (ATG), plans to start production within 18 months.." [more]

More Than a Confrontation [Apr 9]
"The Saudi Interior Minister's statement that "the discovery of a group of financial supporters of deviant groups in Saudi Arabia by security forces," is the clearest example of the acknowledgement of an issue that has been whispered about in various gatherings and on various occasions. The phenomenon of moral and financial support of terrorism has become a well-known issue, thus the war on terrorism should focus on the battle against ideological and financial support and should be as fierce as the military confrontation in this respect.." [more]

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

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