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Boosting
US-Saudi Commercial Ties - Trade Mission
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 "..The
time is ripe for a US delegation to the Kingdom to
strengthen the bilateral trade relations between the two
countries, Hernandez said, describing the Kingdom as a
strong voice in the region. For the past 30 years we
have grown together and this is the time that we need to
have person to person dialogue to enhance the relations.."
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Saudi
Arabia's Strategic Energy Initiative - Obaid
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 "..As
Iran seems likely to flout any United Nation Security
Council resolution regarding its uranium enrichment program,
sanctions against Tehran could soon become a reality. And
even if they aren’t initially applied to the country’s
oil exports, they will have a major effect on energy
markets, because Iran has threatened to cut oil supplies in
retaliation. To confront this challenge -- as well as that
from potential disruptions elsewhere -- Saudi Arabia has
embarked on a strategic energy initiative with the explicit
objective of maintaining enough spare oil capacity to
compensate for the loss of oil from two of Opec’s major
oil exporting countries.."
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| Saudi
Arabia National Day
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 "..In
my estimation it should be viewed as an opportunity for
introspection as we not only look back at the different
stages of nation-building, consolidation and achievement but
also look forward to the future and all the concomitant
challenges that lie ahead of us. The ability to face these
in the coming years will be far tougher and more diverse
than we can imagine. However, we have to rise to the
occasion and meet them headlong.." He continued,
"..As we reflect once again on the National Day we
should also be thankful: First to Allah for having blessed
us with the Two Holy Mosques of Makkah and Madinah. Then for
the decades of security and stability that we have enjoyed.
While other nations around the world floundered we kept
going on. But as we appreciate the past we also should be
concerned about the growing menace of terrorism -- an alien
philosophy that has crept into the minds of many of our
youngsters. We have to work together to address this issue
and eradicate its dangers.."
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| Building
Understanding: The Role of the MEPC
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 "..The
Middle East Policy Council is one of less than a handful of
organizations devoted to making the case to Americans that
American interests dictate a strong and positive
relationship with the Arabs and with Islam generally. Our
board is entirely American and our focus is very much on
American interests and on helping Americans understand the
interests of our diplomatic partners and adversaries in the
region. The Council works in three main areas: a
series of policy
discussions on Capitol Hill addressing topics that are
either neglected or are too awkward politically to get the
attention they require on the part of Washington policy
community; Middle
East Policy which is the premier quarterly journal
in the field both in the US and internationally; and, of
course, there is the MEPC program
of training high school teachers how to teach about Arab
civilization and Islam.."
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In the News
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Saudi
National Security Assessment Project
 Earlier
this month SUSRIS presented an article
by Nawaf Obaid on Saudi Arabia's strategic energy
initiative which described the Kingdom's plan to increase
oil production accounting for potential loss of world energy
supplies from countries like Iran, Venezuela, Iraq and
Nigeria. Mr. Obaid also provided a copy of his
PowerPoint presentation on this topic to SUSRIS to share
with our e-news readers and web site visitors.
The
presentation "Saudi
Arabia's Strategic Energy Initiative: Safeguarding Against
Supply Disruptions" is one of several briefings Mr.
Obaid provided to SUSRIS (see below). They are posted
to the Web site and can be located through an index
of materials provided by Mr. Obaid's Saudi National
Security Assessment Project. SUSRIS thanks him for his
consideration.
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In the News
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Saudi reform
changed direction post-September 11 - Zawya.com - Sep 19,
2006
"..Introspection arising from the events of September 11, 2001, the concerns over unemployment and anticipated future declines in oil prices, along with Islamist challenges have combined to produce a veritable Saudi obsession with reform. Reform in the kingdom
included a wide range of issues such as institutional and structural changes, privatization, the gas initiative and efforts to join the World Trade Organization.."
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In the News
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Saudi
Arabia's demographics - the winds of change
Marketers are continuously faced with the challenge of how to sell to their target audiences and so are always looking for different segmentation strategies.. ..TNS Middle East conducted a
large-scale 6,000 sample size, syndicated study in Saudi Arabia in 2006 to try and capture changes in the country's basic demographics. We compared the results of this 2006 study with a similar
large-scale study done in 2001 to identify significant changes. The study shows that the average family size - defined as all family members in the household excluding friends and helpers - is 5.2; with a fourth of all households being small (family size up to 3 members), a third being medium (family size of 4 to 5) and 40% being large households (family size of 6 or
more).."
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In the News
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A New Role for Saudi Arabia in Lebanon
Daoud Shirian Al-Hayat - 20/09/06//
"After the Saudi ambassador to Lebanon, Dr. Abdul Aziz Khoja, resumed contacts with the Hezbollah leadership, some Lebanese parties started creating some scenarios of a possible Saudi role in solving the dispute among them. This comes at a time when mutual accusations among political leaders in Lebanon have reached the point where they threaten to blow up the political situation in a way that could cause the collapse of State institutions. In its editorial last Monday, the 'Al-Safir' newspaper, reporting some politicians' ideas, expected a new proposition from the Kingdom of Saudi Arabia. This
'could include an invitation to several concerned political leaders to hold talks with the Saudis themselves, and it could subsequently move on to propose a 'mini Taif Agreement' or a small conference to revitalize the decisions taken at the Taif
conference'.."
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| Keeping
Track - Recently
on SUSRIS |
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![Click here to read Saudi Arabia's charges about responsbility in the Middle East crisis. (SUSRIS / IOI / Jul. 18, 2006)[Photo: Patrick W. Ryan]](http://www.saudi-us-relations.org/images2006/Elements/060718-crisis1.jpg)
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Saudi
Minister Calls for New Start to Peace Process [Sep 23]
"Arab countries have reached a 'very significant' consensus
after the recent war in Lebanon that there must be a new start
with fresh ideas to the Middle East peace process.. ..Foreign
Minister Prince Saud Al Faisal of Saudi Arabia and Russian
Foreign Minister Sergei Lavrov, in separate interviews on the
sidelines of the meeting of the UN General Assembly, spoke of
the urgency for an 'end game' in the Middle East to resurrect
the process bogged down three years that could give a glimmer of
hope to both sides.." [more]
Saudi
Farmers Need New Ideas, Re-training for WTO Accession [Sep 23]
"Economists are warning Saudi farmers of the effects of the
kingdom's membership of the World Trade Organisation (WTO) and
against not taking measures to improve their operations and
become more competitive, according to the Arabic daily Al Hayat.
Economists quoted by the daily in its recent issue said the
farmers should be prepared to wean themselves away from
government subsidies.." [more]
Saudi
Arabia Denies Any Secret Contacts With Israel [Sep 23]
"Saudi Arabia denied yesterday that it held secret contacts
with Israel regarding the aggression that the latter recently
carried out against Lebanon. Osama Nuqli, commissioner at the
Foreign Ministry with the rank of minister, told Asharq al-Awsat
that that his country did not carry out any contacts with the
Israeli side on the crisis in Lebanon during Israel's
aggression, as Israeli newspaper Yedi'ot Aharonot claimed on
Friday.." [more]
Security
Situation in Iraq Hampers Assistance Efforts - Saudi [Sep 23]
"Saudi Arabia late Friday said it is 'profoundly concerned
and extremely saddened' by the deteriorating situation in Iraq
which continues to hamper the international efforts to help it
rebuild. Addressing the General Assembly as it continued its
debate, Saudi Ambassador Fawzi Shobokshi, speaking on behalf of
Saudi Foreign Minister Prince Saud Al-Faisal, said "absence
of security and stability in Iraq continues to hamper the
efforts of all countries committed to assisting Iraq to
overcoming its ordeal, rehabilitating its economy and helping it
to rebuild.." [more]
bmi
Tries to Attract Saudi Tourists to UK [Sep 23]
"..Ambassador Sir Cowper-Coles said Sir Bishop was here to
meet senior government officials to attract more Saudis to the
United Kingdom as tourists. During his brief visit, Sir Bishop
had talks with Prince Sultan, secretary general of the Supreme
Commission for Tourism, and senior officials from the Civil
Aviation Authority. Ambassador Cowper-Coles hosted a reception
in honor of Sir Bishop which was attended by Saudi businessmen
and members of the British community.." [more]
Riyadh
Temporarily Frees Former Guantanamo Detainees [Sep 23]
"Saudi Arabia is temporarily releasing all Guantanamo Bay
returnees held in Saudi jails to spend Ramadan with their
families. The United States this year sent 29 Saudis home after
negotiating a framework agreement with Saudi Arabia for the
return of its citizens from the controversial prison.." [more]
National
Day: Celebration of Unity and Progress [Sep 23]
"Saudi Arabia’s National Day, which is observed
throughout the Kingdom today, is a celebration of its national
unity, its outstanding role on the world stage as a major
stabilizing force, and its progress and achievements in
different sectors. Emphasizing the significance of the National
Day, Custodian of the Two Holy Mosques King Abdullah said it
embodies Saudi Arabia’s strong adherence to Islam as a way of
life and Shariah and its commitment to the values of justice and
equality.." [more]
Ramadan
Begins Today [Sep 23]
"The holy month of Ramadan begins today as a number of
people witnessed the crescent yesterday evening, the Supreme
Judiciary Council announced.." [more]
TASI
Drops as Investors Dump Speculative Stocks
"Saudi stocks continued to drop last week. After plunging
214.41 points in the previous week, the Tadawul All-Share Index
(TASI) slipped 1.18 percent, closing 132.18 points down at
11,108.35 points last week from 11,240.30 points in the previous
week. TASI is currently 33.5 percent lower than the year’s
start.." [more]
Bright
Future Awaits Saudi Women With Vision and Courage [Sep 23]
"Saudi women have many reasons to celebrate National Day
this year with great pride and optimism. There are many women
who have shared in the progress and development of this country
and have served as positive role models for many others in our
society. Their successes have encouraged other women to exercise
their legal rights and use every opportunity to excel and
develop.." [more]
Saudi
Minister Urges Palestinian Unity Over Israel [Sep 22]
"The Saudi foreign minister on Friday urged Palestinian
leaders to find a united stance towards Israel and clarify whether
they accept the Arab peace initiative of 2002 which recognises the
Jewish state.. ..'I hope that positions will become clearer
because there is (now) an international consensus (supporting
peace talks) and a serious chance to discuss matters seriously.'
He added: 'If there is not a united Palestinian position regarding
what they wish, a precious chance will be wasted'.." [more]
Italian
Oil-Services Firm Saipem Wins $1.42B in Saudi Arabia [Sep 22]
"Italian oil services company Saipem SpA (SPM.MI) Friday said
it has won two onshore construction contracts worth a total $1.42
billion, in Saudi Arabia and Peru. Saipem, which is 43% owned by
Eni SpA (E), said Saudi Arabian company Saudi Aramco has awarded
Saipem, through its subsidiary Snamprogetti, a turn-key contract
for the engineering, procurement and construction of a gas-oil
separation plant. Saipem said it expects the Saudi project to be
completed by the second quarter of 2009.." [more]
Analysis:
Gulf State Growth Draws Al Qaeda [Sep 22]
"Al Qaeda deputy Ayman Al Zawahiri this month called for
renewed attacks on Western interests in the Middle East, singling
out the Gulf Arab states as targets for their cooperation in the
Bush administration's war on terror. Saudi Arabia has already been
stung, and as booming sheikhdoms like Dubai promote trade and
tourism to attract Western dollars and visitors alike, some
experts fear trouble may follow.." [more]
Minister
Rejects US Call to Dissolve Religious Police [Sep 22]
"Prince Nayef Bin Abdul Aziz, Saudi Interior Minister,
rejected US calls to dissolve the kingdom's religious police, the
Commission for the Promotion of Virtue and Prevention of Vice.
'Our position on this issue is to reject such calls yesterday,
today and tomorrow,' he said.." [more]
Brains
Under the Veils [Sep 22]
"“Don't forget we have brains under our veils,” said
Iranian Nobel Laureate Shireen Ebadi. This is what Edit Schlaffer,
founder of the internationally-acclaimed non-profit-organization
Women Without Borders, experienced working with Saudi women.
Schlaffer and her female team are in Riyadh to conduct ‘This is
Me!’, a workshop on self-presentation skills, career and beyond
with 82 Saudi women. 'I am very impressed to know how highly
educated, curious, and bright Saudi women are'.." [more]
'Green’
Program Win-Win for Kingdom: Al-Moneef [Sep 22]
"Speaking on behalf of the Minister of Petroleum and Mineral
Resources Ali Al-Naimi, Al-Moneef said that since oil and gas
alone will account for two-thirds of energy for at least till the
middle of this century, exploration of global solutions to
environmental issues such as stabilization and reduction of
atmospheric CO2 emissions have become a pressing need of the
hour.." [more]
‘Oil
Price May Fall to $40 a Barrel by Mid-2007’ [Sep 22]
"World oil prices could drop to as low as $40 a barrel by
mid-2007 over receding geopolitical concerns but a collapse to
pre-2003 prices is ruled out, OPEC’s former acting secretary
general said yesterday. “It is very difficult for me to think of
prices sliding to pre-2003 levels. We are talking about perhaps
$40, $50 or $60,” Adnan Shihab Eldin told AFP in an
interview.." [more]
GCC,
Japan Kick Off Free Trade Talks [Sep 22]
"Japan and six Gulf nations began their first meeting
yesterday to discuss a free trade agreement, the Foreign Ministry
said. Japan and the Gulf Cooperation Council (GCC) — Saudi
Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates
— will hold talks for two days. The six-nation Arab group
accounted for some 75 percent of oil imports by the world’s
second largest economy last year.." [more]
Saudi
Arabia and US Working to Encourage and Protect Mutual Investments
[Sep 21]
"Negotiators representing Saudi Arabia and the USA have
prepared recommendations to protect and encourage investments
between the two countries. The teams will present their proposals
to the joint ministerial committee that will be headed by the
Saudi Foreign Minister, Prince Saud al Faisal and American foreign
secretary of state, Condoleezza Rice.. ..According to the US-Saudi
Arabian Business Council, the level of American investment has
decreased in recent years from 45% to 28% when Americans had
invested in 357 projects worth 21.9 billion dollars.." [more]
Hyundai
Wins $780m Contract for Saudi Gas Plant [Sep 21]
"South Korea's Hyundai Engineering and Construction said
Thursday it has won a 780 million dollar contract from Saudi
Aramco to build a gas processing plant in the kingdom. The plant
in the Khurais oilfield will produce 550 million cubic feet (16.5
million cubic metres) of natural gas and 70,000 barrels of
stabilized natural gas liquids a day.." [more]
Teachers
Meet to Improve Education System [Sep 21]
"More than 4,000 teachers from across the kingdom gathered in
Najran to discuss ways to improve the education system in the
kingdom. The open talks programme on 'Saudi education: Reality and
Ways to Improve', was conducted by King Abdul Aziz National
Dialogue Centre in preparation for the forthcoming Sixth National
Dialogue.." [more]
Saudi
Concern Over Green Policies [Sep 21]
"Opec kingpin Saudi Arabia has expressed concern that oil
could become a victim of 'selective' environment policies and
called for striking a balance between a cleaner environment and
development. The kingdom, whose economy heavily relies on oil
income, said the use of advanced technology to carry out
environment-friendly projects is the best solution to achieve
economic development without harming the climate.." [more]
Gulf
Oil Firms May Boost Bonds [Sep 21]
"An anticipated spending spree by Gulf Arab energy firms
could be what the Islamic finance industry needs to propel its
niche bond market into the global mainstream.. ..Saudi Aramco
funded a refinery and petrochemical project in the Red Sea city of
Rabigh through a $600 million Islamic facility earlier this year,
and UAE firm Aabar Petroleum listed a $460 million sukuk on the
Dubai International Financial Exchange in June.." [more]
Kingdom
to Give Iraq Aid through SDF [Sep 21]
"Minister of Foreign Affairs Prince Saud Al-Faisal told
delegates attending the 61st UN General Assembly the Kingdom was
considering writing off official Iraqi debt Tuesday night. The
Prince said the Kingdom had invited the Iraqi government to send a
delegation to Saudi Arabia to discuss the matter.. ..The Prince
said despite the difficulties facing Iraq, the country was still
rich with immense human and natural resources, a matter that would
ensure its revival again and provide its people with a prosperous
life.." [more]
US
T9 Economyrade Delegation to Visit Kingdom [Sep 21]
"The United States will send an official trade delegation to
the Kingdom after the holy month of Ramadan, Israel Hernandez,
assistant secretary and director general of the Trade Promotion
and Commercial Service, announced.. ..'The time is ripe for a US
delegation to the Kingdom to strengthen the bilateral trade
relations between the two countries', Hernandez said, describing
the Kingdom as a strong voice in the region.." [more]
Saudi
Donation to Assist Destitute Gaza Families [Sep 20]
"The United Nations World Food Programme (WFP) has begun
supplying Gaza with 2,050 metric tons of fortified wheat flour,
valued at USD2.6 million, donated by the Kingdom of Saudi Arabia
to assist 50,000 desperately impoverished Gazan families.. ..The
closures and hostilities in the past months, coupled with tight
economic sanctions on the Palestinian National Authority, have
destroyed Gaza's infrastructure and resulted in an acute cash
crisis, spiralling unemployment and an exhaustion of coping
strategies. A growing number of people are now totally dependent
on food assistance.." [more]
Saudi
Minister Says Oil Prices ‘Reasonable’ [Sep 20]
"Saudi Oil Minister Ali Al Naimi said current oil prices were
reasonable and were not having a big negative impact on global
economic growth. This is the first time Al Naimi described the
prices as reasonable since oil dropped from a peak of $78.40 in
mid-July. 'The oil industry is convinced that this price is
reasonable.. ..With oil having fallen heavily today, Opec's basket
price for crude will drop to around $57.." [more]
Satellite
Navigation Planned for Saudi Air Traffic [Sep 20]
" Saudi Arabia is planning to change its civil aviation
navigation system from ground based to satellite based in phases
according to Muhammad Al-Salimi, director of air corridors at
General Authority for Civil Aviation (GACA)... ..Al-Salimi said
the Kingdom would enter into serious negotiations with a number of
countries under the umbrella of the International Civil Aviation
Authority to set out laws on the use of satellites for air
navigation.." [more]
Saudi
Stock Index Tumbles 269.83 Points [Sep 20]
"The stock market took a tumble yesterday. The Tadawul
All-Share Index (TASI) plunged 269.83 points or 2.39 percent to
close at 11,037.7. Out of 81 stocks traded, only two — Saudi
Fisheries and Saudi Hollandi Bank — were in the positive
territory while all other stocks declined. Over SR17 billion worth
of shares changed hands yesterday. TASI was down 214.14 points
last week.." [more]
Saudi
Arabia Supports Kyoto, but 'Green Power' Can't Meet Demand: Al-Naimi
[Sep 20]
".. Al-Naimi said that the world could not rely on
alternative energy alone in this day and age. "Solutions,
such as solar, wind, nuclear or hydroelectric power may contribute
to CO2 emissions reductions, but they cannot meet increasing
global demand for energy," he said. Regardless, Al-Naimi said
the Kingdom has an aggressive energy-conservation policy, since
each megawatt of energy conserved would result in significant CO2
emissions reduction. The energy conservation program, launched
seven years ago, kicked off with reductions of flame discharges at
refineries.." [more]
Gulf
Banks May Slow as Markets Fall: S&P [Sep 20]
"Al-Rajhi Banking & Investment Corp, Saudi Arabia’s
largest bank by market value, and other Gulf lenders may fail to
match their 2005 growth rates as this year’s stock market slumps
offset gains from near-record oil prices.. ..'Profitability for
Saudi banks in the third quarter will be affected,' by the market
decline, Vivek Ramakrishnan, director of fixed income credit
analysis at Standard Chartered.." [more]
Rice
to Lead US Mideast Push: Bush [Sep 20]
"President George W Bush.. ..told the UN General Assembly in
a speech that Rice would “engage moderate leaders across the
region” to help Palestinians reform their security services and
help Israeli and Palestinian leaders resolve their differences..
..Some analysts say the strategy of only seeking out moderates
will fail in a region where the public is suspicious of U.S.
motives and Bush’s freedom and democracy agenda.." [more]
Saudi
Arabia's Demographics - The Winds of Change [Sep 19]
"..TNS Middle East conducted a large-scale 6,000 sample size,
syndicated study in Saudi Arabia in 2006 to try and capture
changes in the country's basic demographics.. ..the real story in
these numbers vs. 2001 is that the smaller households have seen
the largest growth in MHI - a growth of 58% vis-à-vis the medium
households which have seen a growth of only 10% and the large
households which have only seen a growth of 4% since 2001. Coupled
with the fact that small households have the highest per capita
income makes them an attractive target.." [more]
Rising
Import Bill May Erode Saudi Surpluses [Sep 19]
"Although Saudi Arabia is passing through its eight years of
current account surplus amounting to over SR340 billion ($90.7
billion) in 2005 along with holdings of net-foreign assets worth
SR916.3 billion ($244 billion) by end June 2006, rising imports
bill will likely erode some of these surpluses unless there is a
corresponding surge in exports earnings, says an analyst.." [more]
Drive
on Patriotism [Sep 19]
"A national campaign to promote patriotism and love of
country among Saudis, particularly young people, was launched here
Sunday. The campaign, named 'Watanak,' is asking all Saudis the
question: 'What can you do for your country?' The campaign is also
urging all citizens to direct and dedicate their lives to a new
spirit of patriotism as a way of developing themselves, their
society, and boosting their responsibilities to the
community.." [more]
Marketing
India [Sep 19]
"..'The Indian private sector is launching a strong presence
in the Kingdom and in the region, banking on its technological
advances and leading products and services in various fields,'
said Rajeev Shahare, now the acting head of the Indian mission in
the Kingdom.. ..The Indian diplomat cited the specific economic
connections India wanted to engage in the Kingdom. These are
construction, information technology, collaboration in small and
medium enterprises, tourism, and healthcare.." [more]
Neighbors
Back Iraq’s Security [Sep 19]
"Interior ministers of Iraq’s neighbors yesterday pledged
their support to restore the war-torn country’s security and
stability and exchange information to combat terrorism.. ..The
ministers from Saudi Arabia, Iran, Iraq, Jordan, Egypt, Turkey,
Syria, Bahrain and Kuwait also decided to take additional steps to
prevent movement of militants to and from Iraq. They also offered
assistance to the Iraqi government in security training.." [more]
Kingdom
Signs Agreement With Australia [Sep 19]
"The Kingdom and Australia signed a deal between the two
countries for the highly respected ICD10-AM health classification
system, which would reportedly provide employment for more than
2,000 Saudi youths. It would allow hospitals to accurately
describe their processes so that they could improve efficiency and
set national standards of health care delivery.." [more]
Saudi
Government Focuses on Economic Performance [Sep 18]
"Governor of the Saudi Arabian Monetary Agency (SAMA) Hamad
al-Sayyari said Sunday that the Saudi government has been giving
top priority to the development of infrastructure projects which
improve the performance of the economic performance.. ..al-Sayyari
said the Saudi economy has been making steady progress. 'despite
the continuation of the regional tensions'.." [more]
U.S.
Report on Saudi Arabia Criticized as Too Soft [Sep 18]
"The U.S. Commission on International Religious Freedom (USCIRF)
criticized the State Department for softening its critique of the
Saudi government’s religious freedom violations in its latest
annual report.. ..The annual International Religious Freedom
Report released by the U.S. Department of State did recognize that
“there generally was no change in the status of religious
freedom” in Saudi Arabia during the reporting period. However,
the report also highlighted the Saudi government’s pledge to
improve religious freedom policies and calls for religious
tolerance by imams (clerics).." [more]
Saudi
Arabia-Syria Rift Widens After Lebanon War [Sep 18]
"With every passing day, the number of reports emanating from
the Middle East regarding the widening rift between Syria and
Saudi Arabia grows.. ..Arab sources report that recently, Saudi
Arabia refused to receive a delegate representing the Syrian
leader, through whom an attempt was to be made by Assad to explain
the portions of his speech which caused such a ruckus in the
Kingdom. The delegate, added sources, was to have arranged a
meeting with King Abdullah to curb rising tensions.." [more]
Outlook
Bright for Minerals and Base Metals Sector - KSA [Sep 18]
"The latest research on world natural resources published by
Swiss banking giant UBS in late August 2006 should be music to the
ears of Saudi Arabia. The report, produced by UBS's Wealth
Management Research team, projects strong growth in the demand for
natural resources especially from emerging markets such as China
and India, but warns that supply will remain "thinly
stretched" at least in the short term.." [more]
Taiwan
Eyes Lucrative Saudi Market [Sep 18]
"Taiwan is trying to expand its economic ties with the
Kingdom in order to catch up with the expanding Sino-Saudi trade
and investment collaboration.. ..Taiwan Construction Mission in
the Middle East, which is now visiting Saudi Arabia. The
delegation, accompanied by officials of the Taipei Economic and
Cultural Representative Office in Riyadh, held meetings Saturday
with officials of the Eastern Province Chamber of Commerce and
Industry (EPCCI) and executives of leading construction companies
in the region.." [more]
Saudi
Banks: Financing of Private Sector Imports on the Rise [Sep 18]
"In the last ten years to 2005, the value of merchandise
imports into the Kingdom grew 7.8 percent annually, while growth
almost doubled at 14.5 percent annual rate in the most recent five
years 2000-2005 periods. Over the same period, domestic banks’
financing of private sector imports grew 10.4 percent annually,
suggesting that growth in total merchandise imports were dominated
by government and several other institutions, which normally do
not seek import financing facilities from the local banks.."
[more]
Abdullah
Does Not Foresee Sectarian Conflicts [Sep 17]
"..King Abdullah yesterday ruled out the possibility of a
sectarian war between Muslims of the region on the basis of
religious schools of thought. “The Arab region will not witness
wars between Muslims, whether it be on the basis of madhab (school
of thought) or any other reason. No sect will dominate the other.
Contrary to what some analysts say, this will not happen,” the
king asserted.." [more]
Saudi
Shares Gain [Sep 17]
"Stocks in Saudi Arabia rose, paced by Saudi Basic Industries
Corp and Saudi British Bank.. ..Saudi Arabia’s Tadawul All Share
Index gained 1.2% to 11,371.17 at the close in Riyadh. The measure
has slumped 32% in 2006, the second-worst performance among
indexes tracked worldwide by Bloomberg. 'We expect
investment-grade stocks to rebound,' Saudi Arabia’s Bakheet
Financial Advisors wrote in its outlook for the week, published on
Wednesday. Price-to-earnings ratios for most of these stocks
'reached attractive levels'.." [more]
Saudi
Arabia Lays Plans to Cover Opec Shortfalls [Sep 17]
"Saudi Arabia has embarked on a strategic energy initiative
with the explicit objective of maintaining enough spare oil
capacity to compensate for the loss of oil from two of Opec’s
major oil exporting countries.. ..the Kingdom is currently just
short of being able to fully offset Iran’s oil exports. And this
relatively small gap will be closed by early 2007, when the
Khursaniyah oil field goes onstream, adding an additional 500,000
barrels of lighter grade oil to the Kingdom’s sustained
capacity" [more]
NSHR
Backs HIV Patients’ Rights [Sep 17]
"The Riyadh-based National Society for Human Rights (NSHR) on
Saturday called upon relevant agencies in the Kingdom to draft
laws that could protect the rights of HIV-positive and AIDS
patients in Saudi Arabia.. ..Al-Hajjar said there is a need for
concerted efforts in collaboration with experts from the concerned
agencies to draft laws based on the existing implementing
regulations to protect the rights of HIV positive and AIDS cases
in Saudi Arabia.." [more]
Pope’s
Comments Outrage Saudis [Sep 17]
"Saudis are predicting a larger protest to the Pope’s
comments than the last wave of Muslim anger that swept the world
after the Dutch publications of blasphemous cartoons of the
Prophet Muhammad (pbuh) early this year.. ..The Pope in his speech
during his visit to Bavaria quoted a 14th century Byzantine source
regarding the Prophet Muhammad (peace be up on him). 'He said, I
quote, ‘Show me just what Mohammed brought that was new, and
there you will find things only evil and inhuman, such as his
command to spread by the sword the faith he preached'.." [more]
Saud
Asks Pope to Clarify Stance on Islam [Sep 17]
"Saudi Arabia yesterday urged Pope Benedict XVI to issue a
statement clarifying his stand on Islam.. ..Prince Saud said the
Muslim nation has always tried to open effective dialogue with
other religions and cultures, especially Christianity. 'I write to
you this message at a time when international relations are going
through a difficult phase ... with the hope of finding solutions
to overcome such difficulties,' the prince said.." [more]
Saudi
Exports Open to Global Markets [Sep 17]
"Minister of Trade and Commerce Dr. Hashim Yamani said here
yesterday that the biggest benefit Saudi Arabia gained from its
joining the World Trade Organization (WTO) was that Saudi exports
were now open to global markets.. ..the minister said that Saudi
exports were a sign of strength for the Saudi economy, adding that
over the past decade exports from the Kingdom have increased and
are more likely to increase after it joined the WTO.." [more]
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