|
~~~~~~~~ [ Sep 27] ~~~~~~~~~
Saudi Fashion Falls Foul of Religious Guardians [Sep 27]
"In an attempt to reassert their power, Saudi Arabia's religious police have ordered shopkeepers in central Riyadh to get rid of all adorned
abayas, the black robes worn by
women in the kingdom, as shopping picks up ahead of the Eid holiday next week. Salesmen in
al-Maagaliah market, just across the block from the headquarters of the
religious police, or mutawa'a , this week were turning away frustrated shoppers who wanted abayas with a hint of colour or decoration, telling them that shopowners could
face fines or prison. In recent years, the signature flowing robe that covers Saudi women from head to toe started to show some form, with trimmed sleeves, beads or
colour, a sign of relaxation of the strict social norms in the kingdom. Though the changes were subtle, abayas provoked a tug of war between the liberal voices lobbying to give
women more choice and conservative religious institutions determined to impose their austere ways through the religious police.. ..Women's rights activists, however, are
concerned that the crackdown on the abaya marks a setback after early symbolic gains achieved since King Abdullah came to power in 2005.."
[more]
Arab TV Tests Societies’ Limits [Sep 27]
"Many Arabs were shocked and appalled earlier this month when a prominent Saudi cleric declared that it was permissible to kill the owners of satellite TV stations that
broadcast 'immoral' material. But the comment, by Sheik Saleh al-Luhaidan, was only the most visible part of a continuing cultural controversy over Arab television.. ..Arab
governments have long tried to stifle the development of critical news coverage, especially on television. This year, they renewed that effort, with most of the Arab information ministers signing an agreement in Cairo to impose restrictions on the satellite channels that have done so much to free up the airwaves in the past decade. The
recent controversy over muselselaat, as the soap opera-style serials are known, suggests that Arab authorities, whether religious, tribal or political, are also anxious about the
shows’ extraordinary public reach and their power to challenge accepted ideas or traditions. Perhaps the best example is
'Noor,' the popular Turkish series that ran over the
summer. The show violated Arab cultural taboos in a number of ways: besides having Muslim characters who drank wine with dinner and had premarital sex, one of the
male protagonist’s cousins had an abortion.. ..The show and the liberties it displayed prompted unusual condemnations from hard-line clerics throughout the Middle East,
including Sheik Abdul Aziz al-Asheik, Saudi Arabia’s leading cleric, who instructed Muslims not to watch it. But the show appears to have been the single most popular
television drama ever shown in the Arab world.." [more]
Saudis Using Oil as a Weapon Against Iran? [Sep 27]
"A Business Week article on Saudi Arabia portrays a kingdom eager to pump oil far above its OPEC quota despite a rapid decline in the price of oil on the world markets.
This places them in an adversarial relationship with Iran and Venezuela - two allies. Why might the Saudis engage in this practice? One, is they want to prevent a collapse in
demand that might bring about a harsher collapse in prices. However, there might be another reason: to destabilize Iran, an arch-foe of Saudi Arabia. Iran is a Shiite power
intent on achieving hegemony throughout the Middle East. Saudi Arabia sees itself as the leading Sunni power and a protector of two of the holiest sites of the Sunni branch
of Islam (Mecca and Medina). The article states that the Saudis would like to see oil at $90 a barrel.. ..Are the Saudis engaging in economic warfare against Iran-a nation
already beset by an economic crisis and with an election coming up in a few months? The past may be prologue. The Saudis engaged in overproduction to collapse the price
of oil during the Reagan presidency in order to weaken the Soviet Union that had invaded Afghanistan and threatened stability in the Muslim world.."
[more]
Prince Saud Calls on UN for Action on Israel [Sep 27]
"Minister of Foreign Affairs and head of the Saudi delegation at the ministerial meeting at the UN Security Council, Prince Saud Al-Faisal, stressed that the Israeli
settlements are changing the geographic and demographic reality of the occupied Palestinian state and contradict international law, UN resolutions, the Road Map
commitments and the Annapolis process. 'Settlement makes the creation of a viable Palestinian state impossible and it makes it difficult for any Palestinian government to
work effectively or convince the Palestinians on the possibility of achieving peace. It is unethical to impose sanctions on people suffering under occupation while the
occupation authorities are carrying out settlement activities safe from any accountability,' Prince Saudi said. He also said his statement was not demanding anything that
Israel had not previously promised to do, including the promises made at
Anapolis.. ..At the end of his statement Prince Saudi said that he was not demanding that a
resolution be drafted on the issue.." [more]
Water & Power Forum to Discuss Privatization [Sep 27]
"More than 3,000 experts from within the Kingdom and abroad will attend the fourth Saudi Water & Power Forum
(SWPF), 'Change, Innovation and Sustainable
Development' at Jeddah Hilton from Nov. 2 to 5. Makkah Gov. Prince Khaled Al-Faisal will open the event. The forum will discuss the privatization of water and power
sectors, the impact of tariff policy on utilities, ways to achieve sustainability through innovation, water reuse and wastewater management. 'The holding of this annual
international forum reflects the Kingdom’s keenness to develop the water and electricity sectors,'..
..SWPF 2008 seeks to attract companies and investors that aim to capitalize
on additional 30GW of power generating capacity targeted by the Ministry of Water and Electricity for 2020, Bushnak said. This figure will double the current capacity of
29.1GW which is produced at a cost of $100 billion. The development of water and electricity sectors is essential in the light of an expected 45 percent increase in population
to 36.4 million by 2020. Total water supply in the Kingdom is now estimated at 52 million cubic meters a day.."
[more]
~~~~~~~~ [ Sep 26] ~~~~~~~~~
GCC Asks Iran to Cooperate With the IAEA [Sep 26]
"The foreign ministers of the Gulf Cooperation Council, Egypt, Jordan, Iraq and the United States called on Iran to honor its promise of cooperating with the
IAEA, its
commitment to develop peaceful nuclear power, and its assurance that it is not seeking production of nuclear weapons. In their joint statement issued jointly on Thursday
by participating foreign ministers after a meeeting of GCC, Egypt, Jordan, Iraq, and United States in New York city, the ministers urged Iran to cooperate fully with UN security council resolutions mandating Iran to suspend all enrichment-related and reprocessing activities.. ..The ministers reiterated their support for the full exercise of
navigational rights in the Strait of Hormuz, an international waterway vital to global commerce, in accordance with international law. The participating ministers
underlined the importance of mutual respect for the sovereignty, independence, and territorial integrity of all states. They condemned all acts of terrorism in all its forms,
extremism, sectarian violence, and sectarian agendas.." [more]
Saudi Clerics’ Outbursts Hurt Image of Islam [Sep 26]
"When the head of Saudi Arabia’s Supreme Court recently declared that media officials responsible for airing immoral television programmes could be killed, his remarks
provoked what has become a familiar response around the world. Ridicule and scorn for Saudi Arabia, and more 'proof' for Islamophobes of the 'backwardness' of Islam..
..There were other less frightening, but sometimes silly, pronouncements that caused non-Muslims to wonder why representatives of such a profound and spiritual religious tradition as Islam concern themselves with trivialities.. ..In a meeting with Islamic scholars in Mecca on Monday, King Abdullah spoke frankly about the challenges facing
Islam, saying that 'unfortunately, the image of Islam is being tarnished by none other than Muslims themselves'. 'If we want to be honest with ourselves,' he said, 'we have
to accept this reality that the sons of Islam are the ones desecrating this pure religion. Islam disowns them and disowns anyone who tries to give it a bad name.'.."
[more]
Hike in US Visas for Saudis This Year [Sep 26]
"There has been an increase of 28 percent in the number of US visas issued to Saudi students this year, according to a press release from the American Embassy in Riyadh.
Erin Pelton, Deputy Press Attaché at the US Embassy, informs in the statement that the number of Saudi nationals receiving US visas has increased to 67,000 this fiscal year
– a 20 percent rise on the previous year - while the number of student visas issued to Saudi citizens has increased by 28 percent.. ..Saudi students face less frequent visa
delays than before. 'Only three percent of Saudi visa applications take longer than three months, and almost 50 percent are issued within two weeks of the interview.' 92
percent of visa applications are successful, and the statement also reveals the embassy’s desire to increase the number of Saudis students and visitors to the US. 'We are very
encouraged by these numbers,' it reads.." [more]
Oil Hovers Just Above $109 [Sep 26]
"Oil fell and hovered just above $109 a barrel on Tuesday as some investors took profits after prices rallied over $6 in the previous session on weakness in the U.S. dollar and
an improved outlook for U.S. energy demand. Analysts said traders were likely to wait for details on the U.S. government's $700 billion Wall Street bailout plan before
making their next move, adding that a speedy approval of the rescue plan would give psychological support to financial markets, while delays could add doubts and shake
markets further.. ..Since hitting record highs above $147 a barrel in mid-July, oil prices had tumbled as evidence mounted that high energy costs and economic woes were
undercutting global fuel demand. U.S. oil demand is running about 4 percent below last year, according to the latest government data. But news of Saudi Arabia trimming
its supply to oil majors, ongoing unrest in Nigeria, and higher-than-expected Chinese imports would be supportive for oil, BNP
Paribas' Harry Tchilinguirian said in a
research note. Top oil exporter Saudi Arabia has trimmed oil supplies to international majors and U.S. refiners since the start of September, industry sources said on
Monday.." [more]
Saudi Arabia Helps Rebuild Hospital [Sep 26]
"The Saudi government would help reconstruct and equip the District Headquarters
(DHQ) Hospital Mansehra and Earthquake Rehabilitation and Reconstruction
Authority had issued a no-objection certificate to the provincial government. 'The provincial government has agreed to give Rs1 billion for reconstruction of the hospital,'
sources said Thursday. The hospital’s various wards, emergency and administration blocks had been destroyed by the October 8, 2005 earthquake. Saudi government had pledged to reconstruct and equip the hospital with an amount of Rs1 bill.. ..The hospital, having capacity of 246 beds prior to earthquake, now squeezed to 150 beds only as
it works in the shelters and nursing hostel. Because of the delay in the reconstruction of the hospital, the population of
Mansehra, Battagram and Kohistan districts was
deprived of the modern treatment facilities.." [more]
~~~~~~~~ [ Sep 25] ~~~~~~~~~
Saudis See $100 Oil as Too High, Says Study [Sep 25]
"Saudi Arabia may believe oil prices at $100 are too high as they could depress crude demand amid the current global financial crisis, a study said yesterday. Despite a
sharp decline in oil prices over the past few weeks, their climb to a record high of nearly $150 in July has already affected growth in demand and the latest financial crisis
could push it down further, said the study by the London-based Centre for Global Energy Studies
(CGES), which is run by former Saudi Arabia's oil minister Sheikh Ahmed Zaki Al
Yamani. The centre's monthly oil report, sent to Emirates Business, said the Kingdom appears not in a hurry to cut its crude output in line with a collective Opec
agreement this month to reduce production by 520,000 barrels per day (bpd). 'The outlook for oil demand is weakening almost daily, shifting the sentiment of oil markets
from bullish to bearish. More hawkish members of Opec have certainly put pressure on Saudi Arabia to defend a $100 oil price, but this may be too high for the Kingdom'.."
[more]
Mid-East Quartet Has Lost Grip [Sep 25]
"The Quartet of international powers has 'lost its grip' on the Middle East peace process which it is meant to foster, a group of aid agencies says. In a damning report, the
agencies say the Quartet - Russia, the US, the EU and the UN - is failing in its mission. Conditions for Palestinians, which it was meant to improve, have worsened since
peace talks recommenced under US sponsorship in 2007, the agencies say. In the West Bank there was an increase in Israeli settlement and travel curbs. The report was
issued ahead of a Quartet meeting in New York on Friday. 'The Annapolis process [launched by the US in November 2007] was meant to herald a new dawn for the Middle
East peace process,'.. ..'The Quartet is losing its grip on the Middle East peace process.' There has been no immediate response from the Quartet, whose representative in the
region is former UK Prime Minister Tony Blair.." [more]
EFG-Hermes Offers Foreign Investors Access to Saudi Market [Sep 25]
"EFG-Hermes Securities Brokerage now offers its foreign institutional investors access to the largest market in the Middle East & North Africa
(MENA) region, Saudi Arabia,
through its recently launched Abwab product. In line with the change in regulation from the Capital Market Authority (CMA), the Arab world’s leading investment bank
has been granted permission to provide non-resident foreign investors with the ability to purchase Saudi Arabian equities through trade swap arrangements.. ..'The Tadawul accounts for over 25 per cent of MENA Market Capitalization and over 40 per cent of all MENA traded value. It has a market capitalization of USD390 billion and average
daily traded value of USD2.5 billion. Abwab allows us to present our clients with the ability to access these vast opportunities.'.."
[more]
Kingdom’s Financial Markets Healthy [Sep 25]
"The Saudi Arabian Monetary Agency (SAMA) has liquidity available if banks need it, but no lenders have so far stepped forward to request additional funding, its central
bank governor said on Wednesday. 'SAMA has liquidity if needs from banks arise,' Hamad
Al-Sayyari said. 'No bank has stepped forward to ask for additional liquidity.'He said Saudi banks were in a good position to weather a global downturn. 'Figures point to strong growth in loans, money supply, banks have liquidity, additional
deposits. There is no scarcity in liquidity,' Al-Sayyari told reporters. 'Banks want to expand. This conflicts with our policy in limiting the increase in liquidity and the rise in
inflation.' Al-Sayyari added that the Saudi central bank followed a conservative policy and did not invest in 'high-risk' assets abroad.
Al-Sayyari ruled out any change in
the Kingdom’s dollar-pegged foreign exchange policy.." [more]
Senior Saudi Sheikh: Oversee Issuance Of Fatwas [Sep 25]
"Saudi Shura Council member and advisor to the Saudi Justice Ministry Sheikh Abd
Al-Muhsin Al-'Obikan has said that a religious body should be established to oversee
the issuance of fatwas. He said that the body should include at least 100 Muslim clerics from all schools of Islam, who would examine the fatwas before issuing them.
He added that sometimes the public does not know who issued a fatwa or what the source for it was, and thus it is not clear whether such a fatwa can be trusted.."
[more]
Saudi Company Puts Roots Down on Teesside [Sep 25]
"IT is almost two years since the Saudi Basic Industries Corporation (SABIC for short) took over the former Huntsman UK Petrochemicals operation based on
Teesside.
The acquisition by SABIC of the UK Petrochemicals business in December 2006 was something of a historical milestone because it marked the first time a major Middle
Eastern chemical company had put significant roots down on Teesside. SABIC has grown very rapidly in recent years and is now the world's fifth largest petrochemicals
company. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and
fertilizers. SABIC now operates in more than 40 countries across the world and has over 31,000 employees worldwide. In Saudi Arabia, birthplace of the company in 1976,
SABIC has 20 world-scale complexes and 19 of them are located in the industrial cities of
Al-Jubail and Yanbu.." [more]
~~~~~~~~ [ Sep 24] ~~~~~~~~~
Change Marks Saudi Arabia's National Day [Sep 24]
"Saudi Arabia's National Day -- traditionally a day for reflections on self, religion and faith -- was marked Tuesday by an unexplained change in the traditionally
conservative Saudi kingdom. Perhaps it was the kingdom's increasing access to the Internet, King Abdullah's efforts to reform and moderate his kingdom, general fatigue
with the bad name imposed on Saudis by terrorists and other radicals who claim to represent them, or any combination of reasons. 'Unfortunately, the image of Islam is being tarnished by none other than Muslims themselves,' the monarch declared. He spoke clearly and repeated the word 'unfortunately' several times. 'If we want to be
honest with ourselves, we have to accept this reality that the sons of Islam are the ones desecrating this pure
religion,' he said, adding, "Islam disowns them and disowns anyone who tries to give it a bad name.' His remarks were carried on Saudi TV channels as well as the Saudi-owned satellite channels, which can be viewed across the Middle East and as far away as Europe, the Americas and Asia.." [more]
Saud Al-Faisal meets to Discuss Madrid World Conference Recommendations [Sep 24]
"Saudi Foreign Minister Prince Saud Al-Faisal and Gulf Cooperation Council (GCC) Foreign Ministers held two meetings at the United Nations headquarters last night with
the foreign ministers of the Rio group and the European Union Troika on the sidelines of the Sixty-third session of UN General Assembly. The Rio group represents South
America, Latin America and Caribbean countries. During the two meetings, Prince Saud Al-Faisal spoke about the Madrid World Conference for Dialogue, held in July, and
its recommendations which focused on the common humanitarian values which reject all forms of evil and call for good to mankind. Prince Saud said that the
recommendations of the Madrid Conference responded to a real need to find a solution to a multitude of problems affecting societies worldwide such as: violence, extremism,
intolerance, family disintegration and the spread of drugs.." [more]
OPEC Sept Oil Supply to Fall [Sep 24]
"OPEC's oil supply is expected to fall sharply in September because of lower output from members including Saudi Arabia and Iran, industry consultant Petrologistics said
on Wednesday. The estimate boosted oil prices and indicates that the Organization of the Petroleum Exporting Countries was starting to cut supplies even before it agreed
on Sept. 10 to trim output back to official targets. OPEC's 13 members are expected to pump 32.6 million barrels per day in September, down from a revised 33.4 million
bpd in August when output was unusually high, Conrad Gerber, head of
Petrologistics, told Reuters. 'Things have come back to normal,' Gerber said. 'This has nothing to
do with the OPEC decision. That reduction will come later on.' Much of the cutback is coming from OPEC's two largest producers, Saudi Arabia and Iran, which supplied
more oil than previously thought to customers in August.." [more]
Saudi C. Bank Says No Scarcity in Bank Liquidity [Sep 24]
"Saudi Arabia's central bank governor said on Wednesday there was no scarcity in liquidity in the world's top oil exporter and Saudi banks were in a good position to
weather a global downturn. 'Figures point to strong growth in loans, money supply, banks have liquidity, additional deposits. There is no scarcity in liquidity,' Hamad Saud
al-Sayyari told reporters.. ..Sayyari added that the Saudi central bank followed a conservative policy and did not invest in 'high-risk' assets abroad.."
[more]
Saudi Arabia Has Highest Piracy Levels in ME [Sep 24]
"Saudi Arabia is stepping up efforts in their mission to curb software and copyright piracy of all kinds in the Kingdom by launching a website on ongoing anti-piracy cases.
Launched by the Ministry of Culture and Information, it aims to improve transparency after the International Intellectual Property Alliance
(IIPA) recommended to move
the Kingdom from its Watch List in 2007 to its Priority Watch List in 2008 as piracy losses continued to grow. The IIPA report stated that: 'Saudi Arabia is generally viewed as having the worst enforcement regime and, for most copyright industries, the highest piracy levels in the Middle East.'.. ..Working with the
IIPA, Saudi Arabia has revealed
that its plan for 2008 will focus on completing the transparency process, deterrent enforcement, the legal use of copyrighted software in the government and Saudi
enterprises, and copyright law reform.." [more]
~~~~~~~~ [ Sep 23] ~~~~~~~~~
US Proud to Partner with the Kingdom [Sep 23]
"On behalf of the people of the United States of America, I
congratulate King Abdullah, Custodian of the Two Holy Mosques, and the
people of the Kingdom of Saudi Arabia on the occasion of their National
Day. For more than 75 years, the United States and the Kingdom of Saudi
Arabia have enjoyed a strong relationship founded on common interests
and mutual respect. President Bush’s two state visits in 2008
highlight our continuing friendship, building on the first handshake
between President Roosevelt and King Abdul Aziz in 1945 aboard the USS
Quincy. Our relationship is deep and long-lasting, and it grows stronger
every day.. ..I am honored to represent the United States of America in
the Kingdom of Saudi Arabia. On behalf of the American people, I wish
all a Ramadan Kareem and extend congratulations on the National Day. –
The writer is the US Ambassador to Saudi Arabia.." [more]
Rights Report Sparks Indignation in Saudi Arabia [Sep
23]
"Saudi politicians, researchers and intellectuals have closed ranks
in defence of the country's treatment of its citizens and described a
newly released Human Rights Watch (HRW) report alleging a 'pattern of
discrimination against the Ismailis' as a document that has blown things
out of proportion. The initial reaction of the Saudi intelligentsia -
many said they have not had a chance to examine the report in detail or
ascertain the sources on which it bases its assessment - varied greatly
but suggested a general consensus that things were not as bad as HRW had
made it out to be. Some sought to rebuff the perceived bias while others
accused Iran of exacerbating Sunni-Shiite tensions in the region by
instigating Shiite groups to speak against their governments..
..According to HRW, several hundred thousand, 'perhaps as many as one
million' Ismailis live in the Najran province of Saudi Arabia on the
southwestern border with Yemen. Saudi Arabia took control of Najran from
Yemen in 1934, incorporating into the kingdom the local Sulai-mani
Ismaili community, a Shiite offshoot.." [more]
Saudi Arabia Seeks UN Meet on Israeli Settlements in
West Bank [Sep 23]
"Saudi Arabia on Monday formally called for an urgent ministerial
meeting of the UN Security Council to discuss Israeli settlement
activities in "the occupied Palestinian territories."
Following up on a letter from Saudi Foreign Minister Prince Saud
al-Faisal early this month, Saudi Arabia's UN mission sent a letter to
the president of the Security Council in which he requested 'an urgent
meeting of the Council at the ministerial level to address the issue.'
Speaking at an Arab ministerial meeting in Cairo September 8, Prince Saud charged that Israel was 'undermining the
conditions of the peace process by intensifying the construction of
settlements to change the situation on the ground.'.." [more]
IBM Building Saudi Terascale Supercomputer [Sep 23]
" IBM and a Saudi Arabian university announced Monday a joint
project to build the kingdom's most powerful computer initially capable
of 222 trillion calculations per second. In a joint press statement, the
two entities said the King Abdullah University of Science and Technology
(KAUST)/IBM Center for Deep Computing Research project currently
underway will see the completion next year of the Shaheen supercomputer,
a 16-rack IBM Blue Gene/P System, whose 65,536 processor cores allow it
to perform 222 Teraflops or 222 trillion operations per second.. ..With
Shaheen,
Saudi Arabia will be ranked the sixth country in the world that has a
supercomputer with a teraflop capability. The computer will be upgraded
in the next two years to become capable of petascale operation or
quadrillion calculations per second and further developed to become an
exascale machine, which can process more than a million trillion
calculations per second.." [more]
New in Gulf: Bigger Role for Some First Ladies [Sep
23]
"The first lady of Qatar walked up to the podium in a luxury hotel
banquet room and sized up the crowd of mostly wealthy businessmen. 'Do
not be afraid to take risks and to try,' she told them. 'Think out of
the box.' Sheikha Mozah bint Nasser Al-Missned took on a very
untraditional role in rallying the men to support a $100-million
initiative to tackle unemployment. Like her counterpart in Dubai,
Oxford-educated Princess Haya, Mozah is taking up the Western 'first
lady' model — activist, globe-trotting and involved in public affairs. The emergence of high-ranking wives on the
public stage is part of the booming Gulf states’ efforts to appear
more in sync with the West as they seek investment, political clout and
even big-name sporting events like the Olympics.." [more]
~~~~~~~~ [ Sep 22] ~~~~~~~~~
Al-Qaeda Threatens British and Saudi Embassies [Sep 22]
"Demanding the release of Al-Qaeda's militants held by Yemeni authorities, the organization of Islamic Jihad declared the responsibility for the US embassy attack that
killed 17 people, including soldiers and normal citizens. The six attackers were also killed in the attack. In its statement, Islamic Jihad, allegedly part of
Al-Qaeda Organization in Yemen, called for the shutting the U.S. and British Embassies in Yemen and pledged to launch more attacks against foreign interest, foreigners and Yemeni
high-ranking officials. Islamic Jihad spokesman in Yemen Abu Al-Ghaith
Al-Yemani demanded Yemeni authorities to release Al-Jihad followers. He demanded U.S. and
British diplomats to leave the country immediately. He also threatened to launch an attack on the Saudi Embassy.. ..In related news, the Saudi Al-Riyadh newspaper
revealed that Yemeni security forces seized last Wednesday a vehicle loaded with weapons near the Saudi Embassy.."
[more]
Saudi Trims Oil Supply to Majors [Sep 22]
"Top oil exporter Saudi Arabia has trimmed oil supplies to international majors and U.S. refiners since the start of September, industry sources said on Monday. The
kingdom had already throttled back on supplies even before it signed up to an OPEC deal earlier this month to reduce supplies that exceeded the producer group's targets,
industry sources said. 'They were marketing their crude very aggressively from June through August, but they slowed it down for September and October,' said one
industry source at a major oil company on condition of anonymity. Saudi supply to international oil majors was down around 5 percent in September from August..
..Demand in top consumer the United States has fallen at the fastest rate since the oil shock of
the early 1980s, and global financial turmoil has increased concern that the
slowdown in fuel demand will become even more pronounced. But lower Saudi supply to majors and the U.S. was partly compensated by an increase in supply to China.."
[more]
Top Security Official Warns Iran Against Involving GCC in Nuclear Conflict [Sep 22]
"A top security officer warned Iran against involving the GCC in any conflict with the West, saying that the GCC will react strongly to any threat against its stability. In a
rare reaction to Iranian leader's threats, Lt.Col Dahi Khalfan Tamim, Commander-in-Chief of Dubai Police, told Gulf News that Gulf countries respect Iran as a
neighbouring Muslim country, but will not accept any hostility that has direct impact on the lives of people in the region..
..Khalfan said Iran's conflict with the US over its
nuclear enrichment programme should not involve the GCC. 'We are in favour a peaceful resolution because this would be in the interest of all people in the rim of the
Arabian Gulf, including Iranians. The wise leaders of Iran should try to come out of this confrontation with a minimum damage. This doesn't mean that they [Iranians] can
cut the life vein of the region just because they can't confront the US directly,' Khalfan said.."
[more]
Kingdom Invited to Attend Human Rights Meeting [Sep 22]
"The UN High Commissioner for Human Rights, Navi Pillay, has invited Saudi Arabia to attend the Nairobi human rights meeting next month. The invitation came in
Pillay’s meeting with Dr. Zaid Al-Hussein, head of the Saudi delegation to the ninth Human Rights Council session and vice president of the Saudi Human Rights
Commission, in Geneva on Friday. During the meeting Al-Hussein outlined the workings of the commission and described its awareness campaign to spread the culture of human rights. Human rights, he said, would also form one of the priorities of the next National Dialogue sessions.."
[more]
Saudi Inflation Eases to 10.9% [Sep 22]
"Annual inflation in Saudi Arabia eased off from a peak of at least 30 years to 10.9 percent in August as gains in key components — rent and food prices — steadied in the
largest Arab economy, official data showed yesterday. The Saudi cost of living index was 117.9 points on Aug. 31, according to Central Department of Statistics data carried
by the Saudi Press Agency. That compared with 106.3 points a year earlier. Food and beverage prices gained an annual 15.8 percent in August, down from 16 percent a
month earlier, while the rental index — which includes rents, fuel and water — added 18.5 percent, down from 19.8 percent in July. 'The property market fundamentals still
provide for more rises in rent prices because it’s an under-supplied market,' said John
Sfakianakis, chief economist at SABB bank. Inflation of 11.1 percent in July was the
highest in at least 30 years. The annual increases of food and rent prices in August are the lowest since June.. ..Inflation is a key challenge across the Gulf Arab region, where
most states peg their currencies to the dollar, a fact that has contributed to inflation as weakness in the US currency drove up import costs.."
[more]
Kingdom Foundation Donates $356,500 to 'Deworm the World Initiative' [Sep 22]
"Kingdom Foundation, chaired by Prince Alwaleed bin Talal, donated $356,500 to the
"Deworm the World Initiative." The Young Global Leaders Education Taskforce at the
Davos World Economic Forum presented the initiative early this year. The initiative aims at spreading school-based treatment of parasitic worms as an education
intervention. Treating children for parasitic worms has been shown to increase their access to education by as much as 15 percent. Deworm the World intends to reach over half a million children at risk of infection. Through Deworm the World, the Young Global Leaders are working with governments, international agencies, private
foundations, and nongovernmental agencies to scale up school based treatment for parasitic worms.. ..Despite the existence of a simple and cheap treatment, these parasitic
worms still infest 400 million children across the world, cause malnutrition, absenteeism from school, and lower productivity as adults.."
[more]
Gulf Industry Investing $300 Million in Software [Sep 22]
"With Arabian Gulf countries embarked on major investment in expanding the domestic manufacturing sector, demand is growing for industry-related software - a market
forecast to hit $300 million by next year, according to industry observers. 'Recent years have seen huge expansion in the economies of the Gulf Co-operation Council
countries fuelled by oil and gas revenues and successful moves into large scale property development and tourism ventures,'.. ..'The manufacturing sector expansion, particularly in Saudi Arabia and the United Arab Emirates, is leading to increasing demand for what are known as enterprise resource planning
(ERP) software solutions,'
he added. 'Research indicates ERP spending in the GCC rising faster than the projected world average to around $300 million by 2009 and leading IT companies are
competing for a share.'.." [more]
OPEC Could Bail Out Russia [Sep 22]
"The biggest non-OPEC oil exporter, Russia, is considering 'a new format' of cooperation with the Organization of the Petroleum Exporting Countries and will send a high-level delegation to the oil cartel’s next meeting in Algeria on December 17, Russian Energy Minister Sergei Shmatko said. Russia has long attended OPEC meetings as an
observer, but lent further impetus to the cartel’s conference this month by sending its highest level delegation, headed by influential Deputy Prime Minister Igor
Sechin, who
has spearheaded boosting energy ties with Venezuela. Russia supplies one-third of Europe’s energy needs, while OPEC accounts for nearly 40 percent of global oil
production. Together they produce half the world’s oil. That would be a force to be reckoned with. But is Russia really serious about joining OPEC?.. ..Smith said Saudi
Arabia can very quietly start producing at quota again and bring a substantial amount of oil off the market. Takin said Russia may benefit from closer ties with fellow
producer countries, as well as put pressure on the US and the West. He said Russia’s interest in OPEC is partly a reflection of the current politics.."
[more]
~~~~~~~~ [ Sep 21] ~~~~~~~~~
Iraq Sends Convicted Prisoners Back to Saudi [Sep 21]
"Baghdad has sent back to Saudi Arabia eight of its citizens jailed in Iraq ahead of a new extradition treaty between the two countries, a spokesman for the Saudi interior
ministry said on Sunday. The official SPA news agency quoted the spokesman as saying that under the accord, the Saudi authorities were preparing to send back 16 Iraqis
jailed in the kingdom.. ..The new treaty stipulates 'the exchange of convicted prisoners... so that they serve the rest of their sentences close to their families,' SPA on September 10 quoted the interior ministry spokesman as saying. At the time he did not elaborate on how many Saudis were being held in Iraq, where Saudis are among
foreign fighters who have joined Sunni Arab insurgents battling Iraqi forces and their US-led backers.. ..Saudi Arabia, citing the lack of security in Iraq, has yet to reopen its
embassy in Baghdad more than four years after the neighbours restored diplomatic relations in July 2004. Iraq reopened its embassy in Saudi Arabia in February 2007 after
it had been closed in December 1990 on the eve of the 1991 Gulf War when ties were severed by the regime of executed dictator Saddam Hussein.."
[more]
Saudi Refinery Projects Delayed [Sep 21]
"Three refinery projects in Saudi Arabia have been delayed, according to the Middle East Economic Survey
(MEES). Saudi Aramco and Dow Chemical's joint expansion of
the Ras Tanura complex faces delays because the project is believed to be too large for contractor KBR and needs to be divided with another company, MEES reported.According to earlier statements by
officilas, it had been expected that the expansion would be operational in the first quarter of 2012. The expected cost of the project is believed to be around US$8 billion. Bids for investment in the Jazan facility have been delayed by nearly a year to March 2009 while an incentives package is prepared
MEES said. The start-up of a plant to be operated by Rabigh Refining & Petrochemicals will probably be pushed back to the first quarter of 2009, MEES said. Rabigh
warned this may occur in a statement to the Saudi bourse on 7 September.."
[more]
Tadawul Rebounds But Still Off Peak [Sep 21]
"The Tadawul in Saudi Arabia registered a strong rebound yesterday, regaining 2.7% of its total weekly losses, which had reached 9.1% or SR136bn of its market value. The
biggest stock market in the region, it is trying to get back to previous highs, following a series of sharp declines after the world financial crisis left a negative impact on the
region's markets.. ..During last week's trading, its share fell below the nominal value of SR10 and closed yesterday at SR7.70.. ..The rise of the banking, petrochemical and
telecoms sectors pushed the index above the 7,500 benchmark, after falling below 8,000 points last week.. ..According to Kasb's weekly report, the sharp market decline last
week was linked to the turmoil in internationals market and the Lehman Brothers collapse. Kasb expects the Tadawul to rise to around 8,000 points before the start of the
Eid vacation.." [more]
President Saleh to Visit Saudi Arabia [Sep 21]
"Well-informed sources said that President Ali Abdullah Saleh is going to visit Saudi Arabia on Sunday. During his visit, President Saleh would visit the holiest places in
Mecca to perform the Umrah (minor hajj) and meet the Saudi King Abdullah bin Abdulaziz Al Saud. According to Saudi Press Agency that King Abdullah would discuss
with President Saleh bilateral relations between Yemen and Saudi Arabia and ways of strengthening them in various fields in addition to regional and international issues of
common concern.." [more]
Boost for Saudi, Malaysian Trade Ties [Sep 21]
"THE strong bilateral relations between Kuala Lumpur and Riyadh was boosted with the launch of the Jeddah chapter of the Malaysia-Saudi Arabia Friendship Society
(MSFS) yesterday. Its goal is to build greater cooperation between the peoples and investors of both countries, said prominent Saudi entrepreneur A. K.
Saeed, who was
named the first president of the chapter. There were many areas in which both governments and the private sectors could work together, especially in education, tourism, banking and construction. Speaking to the Malaysian press, he said the Saudi authorities were embarking on major development programmes which could benefit both
sides in the long term.. ..'Education is one of the fields in which we can work on as many Saudi students go to America and Europe. Perhaps we can send more student to
Malaysia soon,' said Saeed, who is involved in diversified ventures in the Middle East and Europe.."
[more]
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