|
~~~~~~~~ [ Sep 20]
~~~~~~~~~
Saudi Arabia Donates
44 Million Dollars to Support Lebanon Schools [Sep 20]
"Lebanon's Prime Minister Fouad Seniora announced Saturday that
Saudi Arabia donated 44 million US dollars to support public schools
students. The announcement was made after a meeting between Seniora and
Saudi Arabia ambassador to Lebanon Abdul Aziz Khoja at the governmental
palace. The donation was to cover tuition fees and books for public
school students from Kindergarten through Grade 9 for the academic year
2008-2009, Seniora said. A smaller part of the funds would be set aside
to support the educational body, he added. 'Saudi Arabia has always
supported Lebanon's economy as well as its stability and
development,'.." [more]
Neutrality is Not an
Option for GCC [Sep 20]
"The crisis over Georgia should give the GCC states a reason to be
concerned. Far from being confined to its immediate neighborhood, the
crisis between Russia, Georgia and the international community has
broader and emerging geopolitical implications as well. One immediate
area of concern is Iran's continued march toward a military nuclear
capability and the role of Russia in this equation. This has direct
consequences for the security of the entire Gulf region. As a result,
the Arab Gulf states cannot afford to stay quiet in the current
discussions and they must make their concerns known and state their
policy positions clearly. A strategy of not taking sides, maintaining
strict neutrality, and avoiding a clear position in fact can have
counterproductive results.." [more]
Credit Crunch Catches
up With Oil-Rich Persian Gulf States [Sep 20]
"Cracks appeared Thursday in the economies of the oil-rich Persian
Gulf states where banks are finally reining in lending in the wake of
the biggest crisis to hit Wall Street since the Great Depression.
Cushioned by record oil earnings Saudi Arabia, the United Arab Emirates
and four other Arab sheikdoms have so far been impervious to the global
credit crunch that claimed this week Lehman Brothers Holdings Inc. (LEH)
and American International Group Inc. (AIG) as its latest victims.
'Liquidity in this region is not available as it used to be months
earlier,'.. ..Bankers say the oil-rich region is teetering on the brink
of its own liquidity crisis that could threaten economic growth and
unravel $2.3 trillion worth of spending on infrastructure and real
estate. 'There's a systemic breakage in the money markets right now,'
said Sehgal, adding that foreign banks are not lending and all players
are looking at covering their own positions.." [more]
Oprah a Hit With Women
in Saudi Arabia [Sep 20]
"In Saudi Arabia, women also watch Oprah, and with far more
attention than I ever did. Oprah, according to this article in the New
York Times, is a bit of a life-line for many Saudi females. The article
starts by describing one woman who writes to Oprah Winfrey every month
even though Oprah has yet to write back. Nayla said that Oprah gives her
hope and energy, and that Oprah is the only one who understands her.
This feeling is echoed with Saudi women of all ages, but particularly
with younger women. Part of what the women relate to is Oprah's own
struggles that she has overcome. As women in Saudi Arabia struggle to
find their voice and use it, Oprah gives them a sense of how it is
done.." [more]
~~~~~~~~ [ Sep 19]
~~~~~~~~~
Saudi Arabia Lays
Ground for More OPEC Action [Sep 19]
"OPEC's surprisingly tough output deal last week lays the
foundation for more decisive action to prop up weakened oil markets and
it could involve the possible collaboration of leading non-OPEC producer
Russia. Until OPEC reached agreement in the early hours of Sept. 10,
most had anticipated the group would leave production unchanged. But top
oil exporter Saudi Arabia, which before the meeting said the market was
fine as it was, put its name to the Organization of the Petroleum
Exporting Countries' (OPEC) unanimous decision to throttle back to
agreed output levels. 'The agreement was a surprise,'.. ..Saudi Oil
Minister Ali al-Naimi may have decided he had done enough to bring
markets back under OPEC control, said analyst David Kirsch of PFC
Energy. By agreeing to cut, Saudi Arabia could be earning support ahead
of the tougher task of coordinating deeper OPEC supply reductions if
demand continued to fall, he added. Already, oil demand in top consumer
the United States has dropped at the sharpest rate since the oil
shock of the early 1980s. Global financial turmoil has increased the
likelihood the slowdown in fuel demand will become even more pronounced.
'The Saudis need the rest of OPEC to go along with them in case the
downside risks to oil demand do materialise and they have to take
additional action,'.." [more]
Arabs Denounce
Cleric's Fatwa on Immoral TV [Sep 19]
"Arabs across the ideological spectrum, from secular-minded
liberals to Muslim hard-liners, are denouncing a top Saudi cleric's
edict that it was permissible to kill the owners of satellite TV
stations that show 'immoral' content. Many expressed worry the recent
comments by Sheik Saleh al-Lihedan - chief of the kingdom's highest
tribunal, the Supreme Judiciary Council - would fuel terrorism,
encouraging attacks on station employees and owners.. ..Even
conservative clerics who agree that Arab satellite networks show too
many 'indecent' programs said al-Lihedan had gone too far.. ..The
remarks were especially surprising because many of the most popular Arab
satellite networks are owned by Saudi princes and well-connected Saudi
and Gulf businessmen.." [more]
Bush Hosts Iftar for
American Muslims [Sep 19]
"President George W. Bush told a dinner honoring American Muslims
that his administration has partnered with those practicing Islam around
the world to promote tolerance and spread freedom to millions. 'We
reject bigotry in all its forms,' the president said before sitting down
for dinner Wednesday with about 110 guests in the White House State
Dining Room. During the past eight years, the Bush administration has
held an Iftaar dinner, a meal served at the end of the day during the
holy month of Ramadan when Muslims fast from sunrise to sunset.
Bush sat next to Kuwait's Prime Minister Sheik Nasser Al-Mohammed Al-Sabah,
who will return to the White House Friday for a meeting in the Oval
Office. This year's event highlighted American Muslims who have made
technological, artistic or innovative contributions to society.." [more]
Group Threatens Saudi
Mission [Sep 19]
"Yemeni authorities have rounded up 25 suspects over a deadly
attack on the US Embassy in Sanaa claimed by an Al-Qaeda linked group.
The Organization of Islamic Jihad said it was behind Wednesday's car
bombing and rocket attack on the highly fortified US mission that killed
six soldiers, six assailants and four others, including an American and
her Yemeni husband. It said it was demanding the release of militants
being held by the Yemeni authorities.. ..A statement signed by the
self-proclaimed leader of the group, Abu Ghaith Al-Yamani, said it would
continue attacks 'against Western interests,' Yemeni public figures and
the Saudi Embassy in the capital. It also called for the closure of the
US and British missions in Yemen. Yemeni security sources said special
counterterrorism forces had been put in charge of defending the US
Embassy.." [more]
Move Under Way to
Train Saudi Nurses [Sep 19]
"Saudi Arabia is in the process of recruiting 2,000 Filipino nurses
and has announced 1,000 scholarships for Saudi girls in a move to
address the shortage of specialist nursing staff. More than 10,000
nurses are urgently required to make up for the shortfall and this move
by the Ministry of Health (MOH) will help train Saudi nurses with the
aim to cut dependence on foreign nursing staff. 'A number of seats for
Saudi women have also been reserved in premier health institutions in
Jordan, Australia, the US, Britain and Bahrain, to enable them to pursue
specialist nursing training,' said Dr. Munira Al-Osaimi, MOH's
director general of nursing, here yesterday. The MOH, which is seeking
to increase the number of Saudis in the nursing sector to 60 percent
within the next five years, is also offering advance training to nurses
who have graduated from Kingdom's medical colleges.." [more]
~~~~~~~~ [ Sep 18]
~~~~~~~~~
GCC Finance Chiefs
Clear Monetary Union Plan [Sep 18]
" GCC finance chiefs on Wednesday approved proposals to set up a
monetary council and a charter for a monetary union, the Arab bloc's
secretary general said. Finance and economy ministers of the six-member
Gulf Cooperation Council approved the monetary union charter and the
council's bylaws said GCC Secretary General Abdurrahman Al-Atiyyah.
The endorsement of the proposals constitutes a major step toward
adopting a single currency, Atiyyah said. The monetary council, agreed
in principle by GCC central bank governors in 2006, would be the
forerunner for a GCC central bank, which will issue the single currency.
The decisions taken by the ministers on Wednesday will be referred to as
recommendations to GCC heads of state when they hold their annual summit
in Oman later this year, Atiyyah said.They must be approved by the heads
of state before they come in force.. ..The GCC has set a 2010 target
date for a single currency.." [more]
JEF to Focus on Job
Creation [Sep 18]
"The Jeddah Chamber of Commerce and Industry (JCCI) announced the
preparation of the 10th Jeddah Economic Forum (JEF) to be held from Feb.
14-17, 2009. Saleh Al-Turki, chairman of JCCI, announced that the Jeddah
Economic Forum 2009 would discuss job creation as an integral part of a
vibrant effective economy and activism and how the private sector can
lead in finding solution to macro issue facing our economies. 'For the
tenth year the forum has proved its success and showed its impact on the
economy level, therefore the forum in 2009 offers practical solutions to
the challenges linked to economic growth and prosperity and we look
forward to sharing with an engaging, stimulating and exclusive
experience.'.. ..The forum is the most prestigious annual gathering in
the Middle East and a world-class event where global, international and
regional leaders meet to identify and address economic issues.
Throughout the years, the forum has been able to set the standards for
national and
regional economic events aimed at job creation, economic development and
identifying economic opportunities, offering a blueprint for the
economic future of the Kingdom of Saudi Arabia and the region.." [more]
Daughter of Former
Saudi Monarch Dies at the Age of 80 [Sep 18]
"The daughter of the former Saudi Monarch, Loula Bin Abdel Aziz (Ibn
Saud) died at the age of eighty, the Saudi Royal Court announced on
Thursday. Princess Loula, who died on Wednesday, is the twentieth among
Abdel Aziz's 27 daughters and a half-sister to ruling King Abdullah. Ibn
Saud, as he is known to the west, was the founder of a unified nation of
Saudi Arabia in 1932. He was also the father of some 50 to 60 children,
including all kings of Saudi Arabia that have ruled after him.
Traditional Saudi
families rarely comment in public on female family members.." [more]
US Attack May Spark
Capital Flight: Saudi Bank [Sep 18]
"The eruption of hostilities between the United States and Iran in
the Gulf could trigger a capital flight and seriously hit regional
economies, a leading Saudi bank said yesterday. In the absence of a
conflict, Saudi Arabia and other Gulf oil producers are expected to
enjoy one of their best economic and fiscal years in 2008..
..'Nonetheless, the US-Iranian standoff remains extremely dangerous.
While a military conflict in 2008 is unlikely, the US policy will
continue to focus on financially isolating Iran through sanctions
and on deterring Iran through military deployment and regional
alliances,' the report said. It said the Iranian nuclear issue is
expected to remain the main source of geopolitical risk in the Gulf on
the grounds that prospects for a solution are dim.. ..'Although a
possible military conflict will push up crude oil prices and kingdom's
revenues, a commensurate plunge in consumer and investor confidence will
have a net negative impact on the growth of expenditure, prompt capital
flight and depress the
equity market'.." [more]
OPEC Lowers its
Forecast for World Oil Demand Growth [Sep 18]
"The Organisation of Petroleum Exporting Countries (OPEC) in its
latest monthly report has lowered its forecast for 2009 world oil demand
to 0.9 million barrels a day (b/d), that is 1.00 per cent, compared with
1.03 per cent, as was the previous estimate. Oil consumption next year
OPEC forecasts will average 87.7 million b/d. The basic reason for the
lowering of the forecast is falling demand in the United States which is
the largest consumer in the world. The oil cartel expects that all the
additional demand will come from non-OECD countries, while demand form
industrial countries will decline. OPEC also cut its oil demand forecast
this year by 120.000 b/d.. ..It should be noted that OPEC's basket price
currently is around $91 a barrel, a 30 per cent fall from its record
high of $141 at the beginning of July.." [more]
~~~~~~~~ [ Sep 17]
~~~~~~~~~
Defiant Iran Puts
Guards on Gulf Oil Route [Sep 17]
"Iran announced Tuesday that it has put its elite Revolutionary
Guards in charge of defending the vital Gulf oil route. The announcement
came as France joined the United States in calling for new United
Nations sanctions to force Tehran to comply with international demands
over its contested nuclear program. Iran has warned repeatedly that it
will close the narrow Hormuz Strait at the mouth of the Gulf if the US
or Israel attacks it amid tensions over Iran's nuclear program. Around
40 percent of the world's oil passes through Hormuz.. ..Iran's
hardened stance follows a new report by the International Atomic Energy
Agency (IAEA), the UN's atomic watchdog, that said Iran had not frozen
uranium enrichment activities as instructed by the UN. French foreign
ministry spokesman Eric Chevallier described the report as 'extremely
worrying' and said: 'We have no choice but to work, in the coming days
and weeks, on a new sanctions resolution at the Security Council.'..
..The US says it seeking a diplomatic solution, but has not ruled out
military action. Iran denies it intends to develop nuclear
weapons.." [more]
Saudi Cleric Jailed
for Shi'ite Practices [Sep 17]
" Saudi religious cleric has been jailed for demanding the right to
perform a Shi'ite practice. Sheikh Tawfiq Al-'Amir, a Shi'ite
religious cleric, said he preferred to remain in jail rather than give
up his right to freedom of worship and propagating religious slogans
according to the Shi'ite custom, UPI reports. He is being held in a
jail in the Al-Ahsaa province, located in the east of the Saudi kingdom.
Al-'Amir was jailed because he insisted on using a Shi'ite style of
the recorded call for prayer.. ..Shi'ites constitute between five and
10 percent of the population in Saudi Arabia, a kingdom that practices a
strict form of Sunni Islam. They often complain they are discriminated
against by the government and say they face restrictions on religious
freedom. Most Saudi Shi'ites live in the eastern part of the kingdom.
Around 15 percent of Muslims worldwide adhere to Shi'ism, constituting
the second-largest group of believers in Islam after the Sunnis. The
main bone of contention between Sunnis and Shi'ites is the issue of
succession to the Prophet Muhammad, who is believed to have died in 632
AD (CE).." [more]
Well-Known Daily Radio
Broadcast Taken Off Air [Sep 17]
"In a surprise development, the Holy Quran Radio in Saudi Arabia
has suspended its famous daily broadcast Light In The Path. The decision
to take the programme off the air comes in the wake of the controversy
generated by a fatwa issued by Shaikh Saleh Al Luhaidan, Chief Justice
of the Supreme Judicial Council. The stricture says it is acceptable to
kill owners of Arabic satellite television channels that broadcast
programmes considered immoral. Light In The Path is a half-hour bulletin
that features leading Saudi Islamic scholars fielding questions
about Islamic issues from a global audience.. ..According to the Islam
Today news website, the broadcast of a new episode of Light In The Path
was halted yesterday along with another Islamic programme, Fahd Al
Sunaidi. The website said the episode was scheduled to host Shaikh Abdul
Rahman Al Ghadyan, a member of the Senior Ulema Board, but gave no
reasons for the sudden decision not to air the programme.." [more]
Arab Banks'
Governors See No Systemic Risk From US Financial Crisis [Sep 17]
"Arab banks have so far escaped a serious, direct hit from the US
banking crisis and the region's financial system is not at risk as the
fallout sweeps global markets, key central bank governors said
yesterday. Banks in Saudi Arabia, the biggest Gulf Arab economy, appear
to have avoided serious damage, said Saudi central bank governor Hamad
Saud al-Sayyari, who cautioned, however, the crisis was just a day old.
'At the moment ... I don't see any risk but this crisis has just
started yesterday,'.. ..In Saudi Arabia, the largest Arab bourse shed
6.49% on Monday's crisis, but the head of the Capital Market Authority
said there were no liquidity fears. 'The decline in Gulf markets and
especially the Saudi market is a result of the global financial crisis,'
Abdul Rahman al-Tuwaijri told Al Arabiya TV. 'There is no concern about
the lack of liquidity in the market.'.." [more]
OIC, GCC Sign Accord
[Sep 17]
"The 57-member Organization of the Islamic Conference, which is the
world's largest Muslim organization, signed a landmark agreement on
Monday with the Gulf Cooperation Council to strengthen political,
economic and cultural cooperation. 'The agreement will usher in a new
era in the historic relations between the two organizations,'.. ..The
OIC secretary-general said the agreement would promote coordination
between the two bodies on major issues of mutual concern. 'It will also contribute
immensely toward realizing their mutual objectives,' he said. Speaking
about the significance of the agreement, Ihsanoglu said both
organizations would benefit from the experience and expertise of one
another. He said the GCC has made significant progress in recent years.
'We'll certainly benefit from its achievements.'.." [more]
Too Early to Say if
OPEC to Cut Supply Again -Iran [Sep 17]
" It is still too early to say whether OPEC needs to reduce oil
output again in December as the impact of financial market turmoil on
oil demand is unclear, Iran's OPEC governor said on Wednesday. Members
of the Organization of the Petroleum Exporting Countries (OPEC) last
week agreed to rein in output that was above the group's target, cutting
supply by 520,000 barrels per day. U.S. oil has since fallen below $100
to a seven-month low. 'It is too early to judge,' Iran's OPEC Governor
Muhammad Ali Khatibi told Reuters. 'Demand is a key issue and
signals from the economy in the United States are not good. But I hope
demand will recover.' Khatibi said ahead of OPEC's meeting last week
that the producer group may need to consider a cut to balance markets at
its meeting in Algeria on Dec. 17. All members should abide by the
group's decision last week to pump at output targets, Khatibi said..
..Any reduction would come primarily from OPEC's most influential member
Saudi Arabia, which produces most of the additional barrels above OPEC's
agreed target. But concern about the effect of high fuel prices on the
economies of leading energy consumer the United States and other big oil
buyers could prevent Saudi from cutting.." [more]
~~~~~~~~ [ Sep 16]
~~~~~~~~~
Brazil Declines Saudi
Invitation to Join OPEC [Sep 16]
"Brazil has declined a recent invitation from Saudi Arabia to join
OPEC, citing plans to refine, not export, crude oil from its recently
discovered deep water reserves, top energy officials said Monday. Mines
and Energy Minister Edison Lobao said Brazil determined it doesn't need
the cartel, because it plans to boost oil income by refining crude into
products like gasoline for export abroad, the state's Agencia Brasil
news agency reported. Paulo Roberto Costa, a high-ranking executive with
Brazil's state-run Petroleo Brasileiro SA oil company, confirmed the
government had decided not to join OPEC. 'Brazil won't be a big exporter
of oil, that's already defined,'' Costa told Agencia Brasil at the Rio
Oil & Gas Expo 2008 industry conference in Rio de Janeiro. 'Brazil
was invited to participate in OPEC and did not accept because our
priority is refining here and exporting derivatives.'' Analysts say the
reserves _ found in the last year thousands of meters (feet) under the
ocean floor and several hundred kilometers (miles) off the Rio de
Janeiro coast _ may contain 55 billion barrels of oil, enough to
catapult Brazil to superpower oil status.." [more]
Broadcasters on the
Defensive in Region [Sep 16]
"Arab media have reacted to the religious decree by senior Saudi
cleric and Chief Justice Shaikh Saleh Luhaidan that TV station owners
who broadcast immoral material can be killed according to Islamic law.
Arab TV producers aren't laughing.. ..The attacks have raised eyebrows
because the owners of Arab entertainment channels, including MBC, ART,
Orbit, Rotana and LBC, are members of the Saudi royal family or
businessmen allies. A spokesman for MBC declined to comment. One TV
official who did not want to be named said religious conservatives
could not push back the tide in Arab entertainment television, which
already pays attention to social and religious mores. 'You can't put the
consumer back in the box,' he said.." [more]
Boeing Awarded
Contract for Radar Upgrade on Saudi AWACS Fleet [Sep 16]
"The Boeing Company [NYSE: BA] has been awarded a contract for the
initial phase of upgrading the radar on Saudi Arabia's fleet of five
E-3A Airborne Warning and Control System (AWACS) aircraft. The Foreign
Military Sale, not to exceed $42 million, was contracted through the
Electronic Systems Center at Hanscom Air Force Base, Mass.. ..Boeing
delivered Saudi Arabia's five AWACS aircraft between June 1986 and
September 1987. AWACS fills the needs for airborne-surveillance and
command-control functions for tactical and air defense forces. The
substantial growth capacity inherent in the E-3 AWACS ensures that the
system can readily be adapted to meet future missions and
requirements.." [more]
Al-Mal to Set Up a
$1.3bn Firm in Saudi [Sep 16]
"Kuwait's Al-Mal Investment Co, a firm controlled by the
family-owned conglomerate Kharafi Group, said it signed a deal with
Saudi's General Investment Authority to develop an economic city in the
kingdom. Under the agreement, Al-Mal will set up a Saudi firm with a
capital of 5 billion Saudi riyals ($1.33 billion), in which it will own
a significant stake and sell a stake to the public, it said in a
statement on the Kuwait bourse website. Other governmental authorities
will also own a stake in the firm, which will be set up within six
months, Al-Mal said without being specific. Developing the real estate
project, which is to build the northern Saudi economic city of Hail,
will be completed before 2025.." [more]
Five Activists Win
Human Rights Watch Awards [Sep 16]
"Five brave and selfless advocates of human rights from Burma,
Congo, Saudi Arabia, Sri Lanka and Uzbekistan have been awarded the
prestigious 2008 Human Rights Defender Awards, Human Rights Watch said
today. All five have been persecuted and threatened for their work. One
winner, Saudi lawyer Abd al-Rahman al-Lahim, is under a travel ban,
which Human Rights Watch urges the Saudi government lift so that he may
receive his award in person in London.. ..Abd al-Rahman al-Lahim's commitment
to justice is manifest as he fights on behalf of those in Saudi Arabia
who have been persecuted arbitrarily under dubious interpretations of
Sharia (Islamic law). His constant quest for justice and thorough
knowledge of Islamic teachings are valuable catalysts for change within
oppressive Saudi Arabian laws. As the leading human rights lawyer in
Saudi Arabia, al-Lahim defends the rights of women, educators, and human
rights activists who have been unjustly convicted under the Saudi
religious establishment's narrow interpretations of Islamic law. He has
been arrested several times, imprisoned and banned from traveling
outside the kingdom for his unfaltering defense of the rights of Saudi
activists, but he continues to engage fearlessly in the fight for
justice.." [more]
~~~~~~~~ [ Sep 15]
~~~~~~~~~
Saudi Pursues Plan to
Raise Output [Sep 15]
"Saudi Arabia is pushing ahead with mega projects to lift its
sustainable oil production capacity to 12.5 million barrels per day at
the end of 2009 but it appears to have suspended long-term plans, a
Saudi group said yesterday. The kingdom, which sits atop a quarter of
the world's recoverable crude deposits, is pumping nearly $60 billion
(Dh220.38bn) into five major projects to expand output capacity from its
present level of about 11.3 million bpd.. ..'It will be some time before
the decision is made as to whether to go ahead with the new
capacity but by providing the basic details, the kingdom has reassured
the oil market that additional supply will be forthcoming if required,'
Jadwa said. Oil analysts said Riyadh is pressing ahead with major
capacity expansion projects although the country already maintains the
world's largest spare capacity of about two million bpd. They considered
such a decision as a message of reassurance to the market and a cushion
against fresh price spikes. Although it has been overtaken by Russia as
the world's largest oil producer over the past few months, Saudi Arabia
has remained the dominant crude exporter.." [more]
Death For Sorcery
Urged [Sep 15]
"A senior Saudi cleric has said purveyors of horoscopes on Arab
television should face the death penalty, a paper said yesterday.
'Sorcerers who appear on satellite channels who are proven to be
sorcerers have committed a great crime .. and the Muslim consensus is
that the apostate's punishment is death by the sword,' Sheikh Saleh
al-Fozan told Al Madinah daily. 'Those who call in to these shows should
not be accorded Muslim rites when they die,' the prominent cleric added.
Many of the hundreds of Arab satellite channels that have sprung up in
recent years specialise in horoscopes and other advice to callers on
solving problems that is seen as 'sorcery'. Fozan was responding to a
controversy ignited by Sheikh Saleh al-Luhaidan, who said last week that
owners of Arab TV shows should be tried and face death over some shows.
Fozan said entertainment channel owners should be 'banished' but stopped
short of advocating the death penalty for them.." [more]
Saudi Arabia Eyes
$900bn in FDI Over Next 10 Years [Sep 15]
"Saudi Arabia, the world's oil powerhouse, is looking at attracting
up to $900 billion (Dh3.3 trillion) in foreign direct investments over
the next 10 years in the energy, power, financial services and real
estate sectors, Emirates Business has learned. A top official of the
Saudi Arabian General Investment Authority (Sagia)Saudi Arabian General
Investment Authority (Sagia)Saudi Arabian General Investment Authority
said actual investments in Saudi currently run at $24bn, a 12-fold
increase compared to five years ago. These investments will further
leapfrog to nearly $1trn by 2018, said Dr Awwad Al Awwad.. ..'We are
expecting investments worth $800bn-$900bn. This is not just expectation,
we have already identified these investment opportunities,'.. ..He said
the Kingdom is on track to achieving the goal of the "10 x 10"
programme that is to put Saudi Arabia in the top 10 of the world's most
competitive nations by 2010. 'As you know we have started from the 67th
place four years ago and today we are now in the 16th. It seems like we
are not going to stop,' he said.." [more]
Human Rights Centers
to Curb School Violence [Sep 15]
"The Kingdom's schools are to be provided with National Human
Rights Authority centers to help curb bullying and violence between
teachers and students. Cases of violence at schools have increased over
the last few years. 'We have received a lot of complaints concerning
school violence and bullying,' said Mufleh Al-Qahtani, head assistant at
the NHRA. 'Cases such as these need to be monitored by a designated
authority that can teach students how to protect themselves,' Al-Qahtani
added.'The Ministry of Education addresses the rights of both students
and teachers,' Al-Qahtani said. 'But problems arise when students have
no idea of what their rights are,' he added. Many students are too
embarrassed to discuss such issues.." [more]
Jobless Rate Among
Saudis Declines [Sep 15]
"The general unemployment rate in the Kingdom has fallen slightly
from 11.2 percent last year to 9.8 percent this year, Labor Minister
Ghazi Al-Gosaibi announced yesterday. Speaking to reporters at the
ministry's headquarters in Riyadh, Al-Gosaibi dwelt on measures taken
by the ministry to cut unemployment, which had fallen from 8 percent to
6.0 percent among Saudi men and from 26.6 percent to 24.9 percent among
Saudi women. The minister's statement was based on the latest
statistics provided by the Ministry of Economy and Planning. Al-Gosaibi
said the total Saudi workforce had reached 4.078 million in February
2008.. ..He attributed the fall in unemployment to the government's
efforts to Saudize jobs and growing government spending on development
projects.." [more]
~~~~~~~~ [ Sep 14]
~~~~~~~~~
New Saudi Courts Show
Al Qaida Was Defeated [Sep 14]
"Saudi Arabia's decision to establish special courts to prosecute
terror suspects allegedly involved in attacks since 2003, demonstrates
the government's confidence that Al Qaida has been largely defeated in
the Arabian peninsula, analysts say. Christopher Boucek, research
associate of the Carnegie Endowment for International Peace, explains in
an article published by the Arab Reform Bulletin that the government has
reduced terrorism in the kingdom to an internal threat and now aims to
delegitmise radicals through prosecution. 'Efforts to confront and
delegitimise violent, radical ideology will prove to be critical
long-term strategies in the struggle against terrorism in the kingdom,'
he says. While rumours about the special courts have been circulating
for a few years, it seems officials have confirmed the establishment of
the courts in July. These courts will lead to a big reorganisation of
the Saudi legal system.." [more]
Saudi Cleric Tones
Down Death Ruling for Depraved TV Bosses [Sep 14]
"Saudi Arabia's top judge sought on Sunday to tone down a
controversial religious edict sanctioning the killing of owners of
television stations that air 'debauchery.' Sheikh Saleh al-Luhaidan said
on state television that 'depraved' television owners could only be put
to death after a judicial process, reflecting the anger of many clerics
at programmes perceived as un-Islamic. If the owners of television
networks who air 'depravation and debauchery' are not deterred by lesser
punishments, they would be referred to justice which issues its rulings
in keeping with the laws in force in the kingdom, he said. 'They may be
killed through a judicial (ruling),'.. ..On Sunday the cleric
acknowledged that his remarks had caused an outcry, but put that down to
what he said was a wrong interpretation of his views.. ..Saudi
commentator Daoud al-Shrayyan said it was unfortunate that Luhaidan's
ruling coincided with the seventh anniversary of the September 11, 2001
attacks in the United States, in which 15 of 19 hijackers were Saudi.
'Some media saw this fatwa as an ideal opportunity to resume the talk
about the link between terrorism and... Saudi Arabia and its clerics and
curricula,'.." [more]
Saudi Telecom Eyes
North Africa Growth [Sep 14]
"Saudi Telecom 7010.SE said on Sunday it would cut 14 percent of
its workforce at home and boost efforts to expand abroad after being
rebuffed by France's Vivendi over a stake in Maroc Telecom IAM.CS. Chief
Executive Saud al-Duweish said he hoped Vivendi would have a change of
heart after the French media group declined to sell its Moroc Telecom
stake, but later told Al Arabiya TV that it had not made an official
bid.. ..'We are interested in the Middle East and North Africa in
general but we are looking at North Africa in particular.' Saudi Telecom
is among firms that are competing for a 25 percent stake in Oman
Telecommunications Co. OTL.OM. Saudi Telecom is under intense pressure
to improve profitability as a regional telecom war heats up.. ..Saudi
Telecom has spent in excess of $6 billion on foreign expansion in the
past 15 months.." [more]
Saudi Market Welcomes
New System With 4% Decline [Sep 14]
"The Tadawul responded to new changes in the pricing units with a
sharp decline yesterday, which reached 4% and saw the Saudi market give
up the 7,800 points mark for the first time this year. A state of
confusion prevailed among brokerage offices, with the implementation of
the new price change unit system, which has three standards.. ..The
system replaces the old one which used to calculate quarter riyal up or
down for all listed shares. The new system calculates the changes
according to the price of the share. The session witnessed some
confusion as some shares followed the old system, attributed by the
market authorities as a correctional operation following the close of
trading on Wednesday. Tadawul says that the new system has been
implemented successfully for the three standards in cooperation with
brokerage firms.." [more]
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