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Kingdom, Gulf States Condemn US Senate Plan to Divide Iraq [Sep 29]
" Saudi Arabia and other members of the Gulf Cooperation Council (GCC) have strongly condemned a US Senate non-binding resolution to divide Iraq on ethnic and religious lines, saying the move would complicate matters further in the war-torn country. The Bosnia-style plan, which was touted as a way out of the sectarian strife, which has risen steadily since the 2003 US-led invasion, “would add new complications to the already difficult situation in Iraq,” GCC Secretary-General Abdul Rahman Al-Attiyah said in a statement.. ..Saudi Arabia, which is an ardent advocate of Iraq’s unity, independence and territorial integrity, has reiterated its rejection of the move to divide the country.." [more]

Saudi Reception Brings Government, Opposition Leaders Together [Sep 29]
"Saudi Ambassador to Pakistan Ali Awadh Asseri hosted an Iftar dinner here on Saturday, which brought many stalwarts from the government and opposition sides together sitting across the same table and exchanging pleasantries.. ..The elite gathering was reflective of the fact that both opposition and government accord high importance to Pakistan’s close and brotherly relations with Saudi Arabia. Talking to APP, Ch. Shujaat said that all sections of people in Pakistan hold relations with Saudi government and people in high esteem. He said the people and government of Pakistan are proud of the assistance and support that Saudi government has been providing to Pakistan from time to time.." [more]

Charity to Tackle Saudi Aids Stigma in Landmark Move [Sep 29]
"The first charitable society in Saudi Arabia to take care of Aids patients is to be set up in Jeddah. Among the objectives of the society is to 'encourage male and female Aids patients to tie the knot ... keeping youngsters from deviant behaviour, protect society from Aids and increase awareness about the condition,' announced the official Saudi news agency yesterday. Meanwhile, according to human rights activists, a draft bill on Aids patients has been sent to concerned authorities for endorsement. The number of Aids patients in Saudi Arabia in 2006 is estimated to be about 5,000.." [more]

DSM Jumps as Saudi Opens Up for GCC Traders [Sep 29]
"The Doha Securities Market gained a huge 1.66% in the week ended Thursday as the investors expect eased investment norms after Saudi Arabia removed restriction on buying by GCC investors.. ..Though rumours had had a play at least for a day, investors also see a good third-quarter results, especially by banks and industries, he added. Saudi Arabia’s Capital Market Authority had on Monday said nationals from five other GCC states could buy Saudi stocks without limit, a step closer to opening up the Middle East’s biggest stock market to all foreign investors.." [more]

Separate Section for Women at Football Stadiums Urged [Sep 29]
" The majority of soccer fans in the Kingdom have demanded separate seating arrangements for women at stadiums across the country to help them watch live football matches.. ..The survey is significant as a large number of Saudi women follow football matches like their male counterparts. Their number is growing year after year, especially after the participation of Saudi soccer teams in international football tournaments. Opponents argue the attendance of women at football stadium would open the floodgates of evil and immorality. Many of them do not like women watching football. They do not believe that watching matches at stadiums is a right of women.." [more]

SAMA Must Pre-Empt Wild Speculation [Sep 29]
"The appreciation of the Saudi riyal against the US dollar during September, which saw the riyal at its highest against the greenback in 21 years, has fueled speculation whether the riyal will indeed maintain its peg to the US dollar or whether it will be revalued to a more realistic level to maintain the balance between the two currencies and therefore trade between the two countries.. ..SAMA like the other dollar zone GCC countries must act decisively to pre-empt any wild speculation on the local currencies with regards to revaluation or depegging. The uncertainty has already fueled a frenzy of speculation on the riyal precipitated by a gamble on whether SAMA would revalue or not.." [more]

Commitment to Tackle Final Status Issues Key to Success of Peace Talks [Sep 28]
"Saudi Arabia's foreign minister described as 'encouraging' his talks with US officials about a proposed Mideast peace meeting, but stressed that success will be determined by commitments to tackle key final status issues, not whether Arab countries agree to attend.. ..Saud avoided committing his country's participation, and made clear that he is voicing the Arab position. But the veteran diplomat also sounded an optimistic tone following a meeting with Bush administration officials. 'We have been shown a canvas with some brushstrokes that has nice colours in them ... but we don't yet know if it is a portrait or a landscape that we are looking at,'.. ..'there is a sense there is something new happening and this is encouraging' if it turns out to be true, he said.." [more]

Crude Oil Falls Below $79 as Naimi Says Markets Are in Turmoil [Sep 28]
"Crude oil fell below $79 a barrel in New York as production resumed after a storm passed through the Gulf of Mexico and Saudi Arabia's oil minister said energy markets are 'in turmoil.'' 'The market is in turmoil, let's leave it at that,' the minister, Ali al-Naimi, said today in an interview in New York. He wouldn't comment further. Crude oil fell as low as $78.96 a barrel on the New York Mercantile Exchange today as output increased in the Gulf. Prices have risen 31 percent since Jan. 18 as demand increased and OPEC members curtailed output.. ..'To a certain extent, Al-Naimi's right, the market has got completely confused with the financial aspects, the banking in collapse,' said Rob Laughlin, a senior broker at MF Global Ltd. in London. 'He's just saying the recent spike up is overdone, and they're looking for an understandable correction.'.." [more]

Oil, Saudis and the States Means Trouble [Sep 28]
".. by holding onto massive dollar reserves and pricing oil in dollars, Saudi Arabia is sitting on two assets that threaten to depreciate in value. By pegging the Riyal to the dollar, the kingdom also risks importing inflation and damaging the Saudi economy. Riyadh’s predicament has increased both macroeconomic and geopolitical risks to the price of oil. The US dollar has long been key mechanism tying together the two most important players in the global oil market – the US and Saudi Arabia.. ..Likely contributing to the recent pop in oil prices, speculation has increased that the dollar alliance between Washington and Riyadh is ending. With the US and Saudi business cycles appearing increasingly out of sync, it may become more difficult for Riyadh to maintain its currency peg to the dollar without causing inflation.." [more]

Democrats in Congress Turning Against Saudi Arms Deal [Sep 28]
"Opposition has been building within the Democratic-controlled Congress to a Bush administration plan to sell up to $20 billion worth of advanced weapons to Saudi Arabia.. ..'In the end, selling them arms won't guarantee their cooperation, much less their love,' Rep. Gary Ackerman, chairman of the House Foreign Affairs subcommittee on the Middle East and South Asia, said. 'The results of such deals are usually a mixed bag of hoopla, limited behind-the-scenes cooperation and ugly public disappointments down the road, and I believe this will be the outcome of the deal currently being proposed.'.. ..Ackerman's subcommittee discussed the proposed Saudi deal during a hearing on Sept. 18.. ..The hearing was addressed by U.S. experts on Saudi Arabia, who doubted whether the kingdom would use U.S. advanced weapons. F. Gregory Gause, director of the University of Vermont's Middle East studies program, said the Saudi military would not be deployed outside the kingdom. 'It has never done so on its own in the history of the modern state,' Gause said.." [more]

Private Sector in Saudi Arabia Posts Highest Growth in 25 Years [Sep 28]
"The Saudi economy grew 4.3 per cent in 2006.. ..'The private sector recorded an increase of 6.4 per cent, its highest real growth rate in 25 years, and the government sector realised an increase of 6.1 per cent, its highest in nine years,' added the report detailing the most prominent economic developments in Saudi Arabia for fiscal year 2006-07. The Sama governor attributed these results to the role played by the private sector, the huge direct domestic and foreign investments and the positive situation of the world oil market.." [more]

Demand for GCC Rights Issues Rebounding [Sep 28]
"The use of rights issues in the Gulf Cooperation Council (GCC) is beginning to recover after the correction of the region’s stock markets last year, the international law firm Trowers & Hamlins said yesterday. The amount raised by rights issues on equity markets in the Gulf Cooperation Council (GCC) region between July 2006 and June 2007 fell 69 percent to $4.6 billion from $14.7 billion in the same period the previous year.. ..This month Saudi Arabia’s Riyad Bank announced plans to raise $3.5 billion through a rights issue, the report said. 'Last year’s correction in the Gulf stock markets really knocked the wind out of rights issues. As the stock markets fell investors just weren’t willing to pick up extra shares at what they saw as inflated prices,' Rupert Copeman-Hill, partner of Trowers & Hamlins, said.." [more]

CNN Marketplace Middle East Program Takes Off [Sep 28]
"'CNN Marketplace Middle East', which debuts today, is CNN’s first weekly business program dedicated to the latest financial news from the Middle Eastern region and the companies and personalities driving that news. The program, hosted by veteran business correspondent, John Defterios, targets the global business community and expands the focus of CNN’s coverage from the region.. ..The program will explore the companies, investors and government leaders forging business relations in a market of almost 200 million people in 21 countries and territories across the region. It will also highlight the global players investing in this rapidly growing region, as well as those within the region that are reaching out to build new alliances.." [more]

Saudi Asks Israel to Abandon Barrier as a Gesture to Arabs [Sep 27]
"Israel should stop work on a security barrier in and along the West Bank and halt settlement activity there as a good-will gesture to assure Arab states that it is serious about comprehensive peace talks, Saudi Arabia’s foreign minister said yesterday. The minister, Prince Saud al-Faisal, stopped short of making his demand a condition for Arab attendance at a planned Middle East peace conference. And he said that in recent days, he had become encouraged about the prospects for the conference, which the United States is to sponsor in November. But he would not promise that Saudi Arabia would attend, a major Israeli objective.." [more]

Saudi Arabia Planning to Keep Riyal-Dollar Peg [Sep 27]
"Saudi Arabia yesterday ruled out revaluing its dollar-pegged riyal, quashing speculation it might strengthen its currency that rose to a 21-year high after it held back from matching US interest rate cut. 'We are not considering any change,' Central Bank governor Hamad Saud Al Sayyari said in Riyadh when asked whether the world's largest oil exporter might revalue the riyal, pegged to the US currency at the same rate since 1986. Saudi Arabia, one of five GCC states with a dollar peg, said last week it would not lower interest rates after a 50 basis-point cut by the US Federal Reserve, fuelling speculation the kingdom might revalue.." [more]

Saudis Worried Iran Nuclear Issue Headed to Confrontation [Sep 27]
"Saudi Arabia's foreign minister said here Wednesday that Iran's standoff with Western powers over its nuclear program is heading toward a 'confrontation.' Saudi Prince Saud al-Faisal met in New York with other Gulf foreign ministers as well as the chief diplomats of Jordan and Egypt, and US Secretary of State Condoleezza Rice on the sidelines of the UN General Assembly. 'We talked certainly about Iran with the Secretary Rice,' Prince Saud told reporters. 'Definitely what we are seeing is a confrontation in the making,.. ..He said Saudi Arabia is "very concerned" about Iran's nuclear program, which Western powers charge is a cover for building an atomic bomb. Tehran rejects the charge, saying it only seeks to produce energy. Prince Saud said Tehran must prove its program is peaceful.." [more]

Arab-Language iPhone Hack ‘60 Percent Complete [Sep 27]
"A Saudi software developer says he’s over halfway done with a project that would provide Arabic-language support to Apple’s much-hyped mobile phone. Though the product is not officially available outside the United States — and won’t be available directly from Apple until next year — some Saudis have found ways to unlock phones that they have managed to obtain either in the local marker (at a steep premium price) or by having them shipped by friends in the US.. ..Omar says his work on developing Arabic-language support should be considered an Apple customer’s own initiative to make the phone accessible in Saudi Arabia (and perhaps to Arabic speakers worldwide through the Internet). He is not, he says, subverting Apple’s system.." [more]

SR290bn Record Budget Surplus in 2006 [Sep 27]
"Saudi Arabia yesterday announced a record budget surplus of SR290 billion ($77.5 billion) for 2006 thanks to high crude oil prices, the Saudi Press Agency reported, quoting Hamad Al-Sayari, governor of the Saudi Arabian Monetary Agency (SAMA). Presenting SAMA’s 43rd annual report to Custodian of the Two Holy Mosques King Abdullah during a ceremony at Al-Salam Palace on Tuesday night, Sayari said the national economy had achieved an excellent growth rate of 4.3 percent in 2006 for the fourth consecutive year. The Kingdom achieved the surplus of SR290 billion despite the record public spending of about SR393 billion ($105 billion), which went largely to development projects and the repayment of some public debt.." [more]

Saudi Arabia Lets Neighbors Into its Stock Market [Sep 26]
"Saudi Arabia is allowing citizens of neighboring Gulf countries, including Kuwait and Qatar, to buy and sell shares freely for the first time, moving closer to opening its stock market, the biggest in the Middle East, to all foreign investors. Nationals from the five other Gulf Cooperation Council states may now buy Saudi stocks in any industry and without limit, the kingdom's Capital Markets Authority said late Monday. That pronouncement removes a statute restricting ownership of banking and insurance stocks to Saudi citizens and foreigners living in the kingdom.." [more]

Egypt, Saudi Arabia Rise In World Bank Rankings [Sep 26]
"Egypt and Saudi Arabia, long considered bureaucratic mazes, changed their laws and regulations to make it substantially easier to start and run businesses, according to a yearly World Bank report that tracks business reforms globally.. ..Among the 10 areas tracked by the World Bank are regulations involved in starting businesses, obtaining licenses, registering property, getting credit, paying taxes and closing businesses. Saudi Arabia, for instance, has been among the toughest places in the world to start a business. The country cut layers of bureaucracy and reduced the time to approve start-ups to 15 days from 39. Saudi Arabia jumped 15 places in the overall rankings to No. 23.." [more]

Cyber Crime Takes Toll in Saudi Arabia [Sep 26]
"Cyber crime is costing Saudi Arabia millions of dollars annually, said an official at the Saudi interior ministry. Dr Abdul Rahman Al Shunaifi, the adviser in information technology (IT) security at the ministry's unit to tackle cyber crime, said that a large number of Saudis were involved in hacking.. ..Among the approximately six million expatriate workers in the kingdom, Al Shunaifi said that those from the Philippines, India and Bangladesh are the most commonly involved in cyber crime. Speaking about the types of cyber crime in the kingdom, the official said that they include fraud with the use of technology and financial crimes. Al Shunaifi underlined that importance of transparency in dealing with cases related to networks and information security systems.." [more]

Saudi Currency Peg to Dollar Under Scrutiny [Sep 26]
"Speculation and rumors are on the rise that Saudi Arabia, like some members of the Gulf Cooperation Council (GCC), mulls leaving the US dollar peg. The rumors were triggered when Saudi Arabia refused to cut interest rates following the US Federal Reserve’s decision. But for Saudi Arabia and other GCC states, holding on to the dollar peg has become a cause for concern across the Middle East with the inflation rate in the Kingdom alone leaping to 4 percent this year. In other Gulf States the scenario is even worse.. ..A SAMA spokesman told Arab News that Hamad Al-Sayari, govenor of SAMA, would be addressing the pressing issue 'very soon'.." [more]

MTV Arabia Ready to Rock Middle East [Sep 26]
"How do you launch a brand synonymous with cutting-edge programming and risque content in a region most commonly associated with conservative social mores? That is the challenge facing Viacom and Arab Media Group when they begin their eagerly anticipated joint venture MTV Arabia in November.. ..With some two-thirds of the Arab world's population under the age of 30, the market for MTV Arabia is huge. What's more, the opportunity for SMS-based revenues is sky high given that mobile phone penetration across the region is particularly high as well.. ..AMG pulled off a coup last December when it outbid the Saudi-owned MBC Group, the Arab world's first, and to this day leading, private satellite channel, to land the coveted MTV license from Viacom.." [more]

Middle East Water Sector Poised For Massive Essential Investment [Sep 26]
"While the Middle East region faces the same challenges, the scale and required pace of development are far more pressing, as populations continue to grow at unparalleled speed. Water, above all, is a key area that is receiving special focus from governments across the entire region.. ..it is estimated that the Middle East's many building projects alone will consume in excess of 112 billion litres of potable water over the next two years, thus putting further severe pressure on groundwater reserves and existing desalination facilities.. ..While the Middle East is home to 5% of the global population, it has just 1% of the world's renewable fresh water, which is why between 2005 and 2015, the Middle East and North Africa countries are committed to spend in excess of US$24 billion on desalination, with Saudi Arabia and the UAE together spending close to US$13 billion.." [more]

Saudi Still Undecided [Sep 25]
"Saudi Arabia has not yet decided if it will take part in a Middle East peace conference called by the US, a Saudi official said yesterday. 'So far, Saudi Arabia has not decided whether it will attend the international conference. It is waiting for the picture to become clear with regard to the conference’s agenda and goals,'.. ..Prince Saud also refrained from saying if Saudi Arabia would attend the conference, after the US said that Riyadh would be invited. The conference’s 'success hinges on the issues it will tackle,' said Saud.." [more]

Saudi Envoy to Qatar Will Return Soon [Sep 25]
"The Saudi ambassador to Qatar is likely to return soon after a five-year hiatus due to a bilateral spat, diplomats and officials said yesterday.. ..the officials said the meeting between Saudi King Abdullah Bin Abdul Aziz and Qatari Emir Shaikh Hamad Bin Khalifa Al Thani during Ramadan 'has succeeded in bringing warmth to Saudi-Qatari ties and could ease the running tension since 2002 between the two neighbours.' The Saudi foreign ministry is expected to take a decision soon enabling the return of the Saudi ambassador to Qatar.. ..The Saudi envoy was recalled for consultations by Riyadh in October 2002. No reasons were given for the Saudi move at that time, but observers said it was because Qatar-based Al Jazeera televised a debate in which participants strongly criticised the Saudi royal family.." [more]

Saudi Riyal Hits Fresh High Against Dollar [Sep 25]
"The Saudi riyal rose to a fresh 21-year high against the dollar on Tuesday as speculation mounted that the world's largest oil exporter might revalue its dollar-pegged currency. Saudi neighbour UAE on Tuesday dropped its three-month Certificate of Deposit (CD) interest rate for the second time in a week, cumulatively matching half the 50 basis-point cut in the US federal funds rate on Tuesday. Saudi Arabia, one of five Gulf Arab states, including the UAE, with a dollar peg, said last week it would not cut rates.." [more]

Saudi Politician Defends Satirical TV Comedy [Sep 25]
"Saudi Arabia's speaker of the Council of Shurah has defended Tuesday a TV comedy series that has angered everybody from fundamentalists to liberals with its sardonic imagery and acerbic satire. The speaker of the Council of Shurah, Salih bin Hamid, rejected a request by a councillor for a formal reaction to a Saudi TV comedy named Tash Ma Tash, which has recently ridiculed the country's liberals.. ..Tash Ma Tash is a sketch comedy series that has become a smash hit among Saudi viewers during Ramadan over the last years. Through a combination of satire and lampooning, the series has crossed red lines by challenging the kingdom's sacrosanct institutions.." [more]

Tourism Development Not a Threat to Culture: Sultan [Sep 25]
"In a no-holds barred discussion with Shoura Council members, Prince Sultan ibn Salman, secretary-general of the Supreme Commission for Tourism (STC), denied that Saudi Arabia’s aim to promote tourism would have a negative effect on the Kingdom’s culture and traditions. 'There is no concern for the Kingdom from tourism,'.. ..According to Prince Sultan, the STC is currently focusing on local tourists rather than on foreign tourists coming to the Kingdom. The aim is to keep the money spent abroad each summer. 'Promoting tourism is tool. The primary objective is to preserve the money that is spent abroad,'.." [more]

Russia and Saudi Arabia to Meet for WTO Talks in Geneva [Sep 25]
"The Russian delegation will arrive on Wednesday in Geneva to hold negotiations with Saudi Arabia on Russia's accession to the World Trade Organization (WTO), Russia's chief WTO negotiator said. The bilateral talks will focus on access to the Russian market. 'These will be the first wide-ranging negotiations with Saudi Arabia to be based on an inquiry, sent to us at the beginning of August, regarding a variety of goods and services,' Maxim Medvedkov said. The parties will also hold two-day multilateral consultations to define the terms and the framework of the next meeting of a working party, to be held in October, on Russia's accession to the WTO.." [more]

Saudi Group to Finance Rehab Center in Sri Lanka [Sep 25]
"A Saudi company is to build a center for mentally retarded children in Sri Lanka and has agreed to offer SR500,000 for the project. Jiffry Haniffa, leader of a delegation from the Islamic Center for Physically Handicapped (ICPH) in Doolmala, Sri Lanka, who is currently on a visit to the Kingdom, told Arab News that the Al-Zamil Group has agreed to give SR500,000 to help mentally retarded Muslim children on the island.. ..The center recently established a wing to take care of mentally challenged children. The wing currently has 50 children, including eight boys. At least 500 children are waiting enrollment.." [more]

Son Speaks of King Abdullah’s Deep Concern for His People [Sep 24]
"Fighting poverty and improving the living conditions of citizens are among the top priorities of Custodian of the Two Holy Mosques King Abdullah, says his son Prince Mishaal, who is minister plenipotentiary at the Foreign Ministry. 'King Abdullah visited a slum area in Riyadh when he was crown prince in order to see the living condition of the poor and understand their needs. He later established a public fund to fight poverty,'.." [more]

U.S. to Invite Syria, Saudis to Talks [Sep 24]
"The United States intends to invite Syria and Saudi Arabia to a Middle East peace conference it plans to hold this fall, a senior U.S. official said Sunday. Secretary of State Condoleezza Rice reportedly informed top Arab officials before and after a meeting of the so-called quartet of world powers involved in the Middle East peace process, which is made up of the United States, United Nations, Russia and the European Union. The move was greeted by diplomats as a bold but risky attempt to reinvigorate the long-stalled peace process. Syria and Saudi Arabia are still technically at war with Israel, and the United States has accused the Syrian government of stoking violence in the region.." [more]

Saudi Foreign Minister Calls for Arab Protection of Lebanese MPs [Sep 24]
"The Saudi foreign minister on Monday called on Arab countries to look into providing protection to Lebanese deputies after the latest killing of an member of parliament (MP) in Beirut. Prince Saud al-Faisal.. ..Al-Faisal said Arab countries should take the initiative and decide on a protection for Lebanese deputies.. ..The anti-Syrian MP, Antoine Ghanem, was killed in a bomb blast on Wednesday in east Beirut. He was the eighth anti-Syrian figure to be slain since the 2005 assassination of former Prime Minister Rafik al-Hariri.." [more]

Saudi Women Restart Driving Campaign [Sep 24]
"A Saudi women’s group is picking up where others left off in 1990 -- demanding the right to drive. An extremely strict interpretation of Islamic law has made Saudi Arabia the only country in the world where women aren't allowed to operate vehicles. Instead, wealthy women hire live-in chauffeurs, while poor women must rely on male relatives for transportation. But a women’s group called Association for the Protection and Defense of Women's Rights in Saudi Arabia has launched a campaign against the prohibition, collecting 1,100 signatures for a petition to King Abdullah through text messages and e-mail.." [more]

Expat Rules Fuel Saudi Insurance Boom [Sep 24]
"Saudi Arabia’s insurance market is set to reach 30 billion riyals ($8 billion) in the next ten years, according to industry experts. The existing 7 billion riyals market is expected to reach 15 billion riyals in 2009, and to double again with the introduction of compulsory health insurance on the kingdom’s entire 16 million population.. ..Seven million expatriates are to come under the scheme through 18 companies. Resident certificates will be renewed only on production of relevant health insurance cover on foreign workers.." [more]

Impact of the US Subprime Housing Crisis on the Middle East Region [Sep 24]
"The risk of an economic fallout from the US subprime housing crisis has decreased following the recent 0.5 percent cut in US Federal Funds rates, nevertheless its impact on the world financial market will continue to unravel in the weeks and months ahead. Historically, widening credit spreads are followed by rising corporate defaults and volatile movements in debt and equity market.. ..The biggest risk to the region is the prospect of a major slowdown in world economic growth. Falling housing and other asset prices in the US, coupled with credit squeeze will undoubtedly have an impact on the highly indebted American consumer.." [more]

The Kingdom: US-Saudi Relations on Film [Sep 23]
"Watching the trailers for ‘The Kingdom’ over the past several months, I was curious about how the film would portray Saudi Arabia and Saudis. I had personal experience with terrorist bombings of residential compounds in Riyadh and wanted to see how accurate the film might be. The film could have taken the low and easy road, pandering to stereotypes, and shown the Saudis as slavering jihadists looking forward to killing the infidel.. ..Instead, I was pleased to see that the film showed that while there are bad Saudis, there are also good and decent Saudis who care about their country, their religion, and justice.." [more]

Qatar Moves to Ease Saudi Tensions [Sep 23]
"The ruler of Qatar left Saudi Arabia on Saturday after a brief meeting with the Saudi king, a move seen as a step toward possibly easing tensions between the two Gulf states. The two rulers discussed boosting bilateral relations in various fields between the two 'brotherly countries', and developments on the Gulf, Arab, Islamic and international arenas.. ..The neighbouring states have long had political differences and often criticise each other through their respective media, newswire AFP reported on Sunday. A Gulf diplomatic source in Riyadh told the newswire that the emir’s visit was also intended to "improve the atmosphere" and ensure that King Abdullah attends the GCC summit to be held in Qatar.." [more]

Saudi Assets Set to Hit One Trillion Riyal Mark [Sep 23]
"Rising oil prices are continuing to support Saudi Arabia's foreign asset accumulation, news reports said. 'Saudi Arabia's foreign assets in the hands of Saudi Arabian Monetary Agency (Sama) would break the 1 trillion riyal mark this year, having grown by 16.17 billion riyal per month on average so far this year, which could support any future pressure which might be exerted on the Saudi riyal,'.. ..Most of Sama's foreign assets are G-7 bonds that provide safe returns during volatile times. Investment in foreign securities, which are now more than 80 per cent of Sama's foreign assets, provide ample security in time of high global volatility. Saudi Arabia's acquisitions abroad are just beginning to take off.." [more]

Bank Stocks Pull Saudi Index Down [Sep 23]
"Banking stocks pulled Saudi Arabia’s benchmark slightly lower yesterday for the first time in four trading days, including Arab National Bank, which had rallied last week. The index, the Gulf’s worst performer this year, inched down 0.08% to 7,879.46 points. It is still up 16.3% since hitting a more than four-month low on June 17.." [more]

National Campaign Against Domestic Abuse Launched [Sep 23]
"The National Family Safety Program (NFSP) was launched on Thursday at the Intercontinental Hotel under the sponsorship of Princess Sita bint Abdul Aziz. According to Dr. Maha Al-Monief, executive director of the program, the income generated from that evening was raised to support the program. The NSFP initiated the first of its kind national campaign against domestic violence. The program is disseminating recently established guidelines created by the Ministry of Health regarding how domestic violence will be diagnosed and reported by doctors to authorities. The Kingdom is a signatory to the United Nations Child Rights Agreement and the Declaration of Child Rights in Islam.." [more]

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