|
~~~~~~~~ [ Aug
15]~~~~~~~~~
Advanced Surveillance
System to Monitor Swine Flu Planned [Aug 15]
"Preparations are underway to operate an advanced surveillance
system to monitor swine flu during this year’s Ramadan Umrah and the
following Haj. 'It is a mobile surveillance system developed by the
Centers for Disease Control and Prevention, known as the CDC, based in
Atlanta by request from the (Saudi) Ministry of Health,' said ministry
spokesman Dr. Khalid Al-Mirghalani. 'The purpose of the system is to
help in monitoring the epidemiology of swine flu and other infectious
disease under surveillance by the ministry among the pilgrims at the
ports of entry and the holy places,' he said. He pointed out that
there is already a team of experts from the CDC working with Saudi
teams on this system.." [more]
Fight of Foreign
Capital Feared [Aug 15]
"Saudi financial experts said foreign investors will lose an
important source of information if MSCI drops the Saudi listings. The
MSCI indexes are used as benchmarks by many international fund
managers and the dropping of Saudi stocks may impact their investment
strategies, forcing them to pare their exposure to the Kingdom’s
companies. Ma’toug Al-Talhi argued that foreign investors cannot do
without international companies providing indices and analyses on
markets, including the Saudi stock exchange. Khalid Al-Jemay’iy said
Tadawul should provide all information on Saudi companies to any
company specialized in financial consultancy, analyses, indices and
investment portfolios. Tadawul must ensure full transparency to
acknowledge the trust of both foreign investors and Saudis who have
invested billions in the market.." [more]
Capital Intelligence
Affirms Samba Financial Group Ratings [Aug 15]
"Capital Intelligence (CI), the international credit rating
agency, today announced that it has affirmed the ratings of Samba
Financial Group (Samba). The long-term foreign currency rating of AA-,
the short-term foreign currency rating of A1 and the financial
strength rating of AA- are all unchanged, as is Samba's support rating
of 2. All ratings carry a 'Stable' outlook. Samba is Saudi Arabia's
second-largest bank by total assets, with a market share of about 14%,
and the fourth-largest by capital. In the past decade its franchise
has expanded beyond the bank's traditional strength in corporate
banking to become a major force in the kingdom's consumer banking
sector.." [more]
Soft Drinks Sales in
KSA to Grow 26.1 pc [Aug 15]
"Soft drinks sales in Saudi Arabia are forecast to grow 26.1
percent through to 2013, the 'Food and Drink Report' for the third
quarter of 2009 said. It said that despite a weakened near-term
macroeconomic outlook, a number of food and drink companies have
continued to fare well, not least within the competitive dairy sector.
The report has forecast food consumption to push up by 10.9 percent
through to 2013, which, banded together with their regional sales,
should allow Saudi Arabia’s dairy majors to register steady turnover
uptick. Although Saudi Arabia has fallen back into fourth place
in the regional Food & Drink Business Environment Ratings table
for Q309, the Kingdom’s soft drinks industry remains a valid target
for investors seeking regional entry, the report further said,
forecasting a soft drinks sales growth of 26.1 percent through to
2013.." [more]
~~~~~~~~ [ Aug
14]~~~~~~~~~
State to Bear Swine Flu
Treatment Cost [Aug 14]
"King Abdullah, Custodian of the Two Holy Mosques, has directed
all government and private hospitals in the Kingdom to treat and
provide medical care to patients (Saudis, expatriates and Umrah
pilgrims) suffering from swine flu at the expense of the State.. ..As
of Aug. 6, some 177,457 cases of the virus, including 1,462 deaths,
have been officially reported worldwide, but the true number of
infections is certainly much higher, said the World Health
Organization.. ..Countries are now only obliged to report their first
confirmed cases to WHO, which says there is no longer any point to
counting each infection as the virus is unstoppable.." [more]
Foreign Lawyers Allowed
to Appear in Saudi Courts [Aug 14]
"The Ministry of Justice has adopted a long-awaited decision
allowing foreign lawyers to appear in Saudi courts and to practice the
profession in the country. The General Administration of Advocacy at
the ministry is coordinating with the labor offices in the Kingdom to
seek the help of foreign lawyers and to recruit them from their
countries. Thus far the ministry has approved more than 245
applications for hiring foreign lawyers.. ..'It should also be borne
in mind that most contracts of the mega projects in the Kingdom are
usually processed in law firms abroad. All of these facts support the
urgent need for the recruitment of foreign lawyers in the Kingdom.
Thus the ministry must relax the law restricting the recruitment of
foreign lawyers'.." [more]
UAE Likely to Overtake
Japan as Dominant Investor in the Kingdom [Aug 14]
"The foreign direct investment (FDI) by the UAE in Saudi Arabia
stood at nearly $5.8 billion last year, the largest FDI flow by an
Arab country, the Kuwaiti-based Inter-Arab Investment Guarantee
Corporation (IAIGC), said. The UAE’s FDI flow into Saudi Arabia
accounted for nearly 45 percent of the total capital of nearly $12.9
billion received by the kingdom from other Arab countries in 2008,
said IAIGC, which groups most Arab countries. The UAE investments in
Arab countries last year also accounted for more than a third of the
total inter-Arab FDI of nearly $34 billion.. ..the UAE was the second
largest foreign investor in Saudi Arabia after Japan. However, with
the completion of the Economic City project, it is expected to lead
the pack.." [more]
Egypt Puts Bar on Umrah
Pilgrims [Aug 14]
"Egypt has imposed restrictions on Umrah pilgrims traveling to
Saudi Arabia during the holy month of Ramadan as a precaution against
the HINI virus. Egyptian Health Minister Hatim Al-Jabali said Thursday
that only those pilgrims for whom Umrah visas were issued before
Thursday would be allowed to travel to Saudi Arabia. He was commenting
on the recent decision of an Egyptian ministerial committee to suspend
permission for new Umrah trips for Egyptians as a precaution against
the spread of the H1N1 virus in the country. Egypt’s partial
suspension follows moves by Iran and Iraq to suspend Umrah visits
during Ramadan.. ..Egypt has apparently gone beyond the
recommendations of the emergency meeting of the World Health
Organization and region’s health ministers in July that included not
allowing pilgrims under the age of 12 years and above 65 years to
perform the upcoming Haj in November.." [more]
~~~~~~~~ [ Aug
13]~~~~~~~~~
Iraq Bars Citizens From
Visiting Saudi Arabia [Aug 13]
" Iraqi authorities have decided to stop Iraqi citizens from
coming for Umrah during the holy month of Ramadan. The decision was
taken as a precaution against the risk of citizens contracting H1N1
virus, Iraq’s Radio Dijla reported on Wednesday. The move follows
Iran’s recent decision to suspend Umrah trips in Ramadan. 'The
government also recommends reducing the number of Haj pilgrims this
year. It will prevent the old and the chronically ill from performing
Haj,' spokesman for Iraqi government Ali Dabbagh said in his statement
which was quoted on the radio.." [more]
KSA Leads ME Farm
Sector With 8% Annual Growth [Aug 13]
"Saudi Arabia remains the Middle East’s largest market for
agricultural products and technologies, posting a steady eight percent
average annual growth. The Kingdom imported more than SR25.5 billion
worth of agricultural products in 2008, an impressive increase of 42
per cent over the previous year. This year, agricultural projects are
expected to account for 23 percent of the country’s expected SR181
billion private sector investments, enhancing KSA’s status as major
player in the regional agribusiness. Set to reaffirm the Kingdom’s
dominance in the fast-growing agriculture sector, this year’s Saudi
Agriculture 2009 – the 28th International Agriculture, Water and
Agri-industry Show, will gather leading international agricultural
investors and companies, manufacturers, and key decision makers to
identify new business opportunities in Saudi Arabia and showcase the
latest in agricultural machinery, equipment and products.." [more]
Crime in Kingdom up by
14 percent [Aug 13]
"There were 78,737 crimes recorded in Saudi Arabia last year with
an increase of 8,335 crimes over the previous year, the Investigation
and Prosecution Commission (IPC) said in a report released recently.
'The crimes, including aggressions against people and drug abuse, have
increased by 14 percent over the same period in the year 2007,' the
report said, adding that there were 21,395 drug and alcohol-related
crimes.. ..According to the IPC’s report, there were 15,540 crimes
of assault, 27,888 crimes of rape or sexual harassment and 3,014
financial crimes.." [more]
MSCI May Drop Saudi
Sec. On Licensing Rights Dispute [Aug 13]
"MSCI Inc. (NYSE:MXB) may be forced to drop securities listed on
the Saudi Stock Exchange, or Tadawul, from Aug. 24 because of a
dispute over licensing rights with the Riyadh-based bourse. 'As a
matter of principle and policy, MSCI cannot agree to grant stock
exchanges pre-approval rights on MSCI's ability to license its own
indices,' MSCI said in a statement Wednesday on its Web site. The
company clarified that a proposed Tadawul agreement contains a
provision that would give the exchange the right to prohibit MSCI from
licensing to third parties certain MSCI indices, which was not
acceptable to it. Saudi Arabian stocks are included only in MSCI GCC
Countries indices and MSCI Arabian Markets indices; they are not
included in the MSCI Emerging Markets Index Series or any other MSCI
Index Series.. ..'If Tadawul continues to insist on a veto right over
MSCI's licensing decisions and it follows through on its threat to
cutoff the supply of data, MSCI will be unable to continue calculating
certain of its indices,' it added. The MSCI indexes are used as
benchmarks by many international fund managers and the dropping of
Saudi stocks may impact their investment strategies, forcing them to
pare their exposure to the kingdom's companies.." [more]
Saudi Activist: Gender
Equality, the First Step to a True Social Development [Aug 13]
" A series of "cultural factors" have led to women,
especially Muslim women, becoming "the victims of attacks"
in the Arab world and beyond. Some societies are characterized by
"cultures that marginalize women," instilling
"discrimination between the sexes, which results in
conflict." So says Bahija Bint Baha Azzi, secretary general of
the International Organization for Muslim Women and the family (Imowf),
in an interview to the Saudi "Female" magazine Roaa. The
activist, adviser to the Saudi Shura Council, says that "to
exclude women from public affairs is not helping development";
real social growth needs a policy of "equal dignity" between
men and women without discrimination”. Referring specifically to
Saudi women, Bahija Bint Baha Azzi points to "an erroneous
conception of habits and traditions" that have negative effects -
even if specific cases were not cited - in the way they are
treated.." [more]
~~~~~~~~ [ Aug
12]~~~~~~~~~
Saudi Arabia Wavers on
Obama's Plan [Aug 12]
" Pro-Israeli lobbyists here won the support of 77 senators (out
of 100) for a letter sent to President Barack Obama that urged him to
'press Arab leaders' to consider making dramatic, upfront peace
overtures to Israel. But one key Arab state, Saudi Arabia, has
already clearly communicated its refusal to make any such gestures at
this time. On July 31, Saudi Foreign Minister Prince Saud al-Faisal
told journalists in Washington that, 'Confidence-building measures
will not bring peace. What is required is a comprehensive approach
that defines the final outcome at the outset and launches into
negotiations over final status issues.' Saudi Arabia is one of the
most influential players in Arab-Israeli peacemaking. But given its
pivotal position in international energy markets - and the fact that
it has no need of US financial aid - it is almost immune to American
pressure.." [more]
Iraq Accuses Saudi
Mullahs of Orchestrating a Terrorist Campaign [Aug 12]
"A senior Iraqi government advisor this morning accused Saudi
Arabia of sending legions of extremists across the border in an
attempt to destabilise the country as American troops are scaled back.
Iraq has recently witnessed a worrying spike in attacks that
demonstrate the police force is incapable and its army is struggling
to contain violence. But accusations that the mullahs of Saudi Arabia
are orchestrating a campaign to isolate and destroy the fledgling
state don’t withstand scrutinity. The statement is a ploy in a
tit-for-tat sectarian battle between Riyadh and Baghdad. The Shia-led
Iraqi government is incensed by a Saudi- and Turkish-led process to
bring Iraq’s Sunni hardliners in from the cold. In fact, Baghdad
foresees a pincer movement as Syria puts pressure on America to talk
to the Ba’athists who were ousted with Saddam Hussein’s regime in
2003. Elections are looming in Iraq and the Baghdad government has
much to lose.." [more]
Saudi Arabia
Construction Industry To Reach A Value Of US$23.29bn [Aug 12]
"In the Q309 Saudi Arabia Infrastructure Report we have revised
our data using a new methodology in order to forecast a more accurate
and pertinent data set. The report is forecasting Saudi Arabia’s
construction industry to grow by 0.05% in real terms, to reach a
nominal value of SAR87.23bn (US$23.29bn). A growing Saudi population
has ensured that there is a continued need for infrastructure
development.. ..However, there are upside risks to our forecasts. The
first is the potential for Saudi Arabia to act as a safe haven for
construction companies operating in the gulf, with reduced demand in
the more saturated markets such as the UAE. Another is the Saudi
government’s amassed oil revenues and willingness to spend them to
prop up the country in the current economic climate, illustrated by a
fiscal balance of 0% of GDP forecast for 2009 down from a surplus of
32.1% in 2008.." [more]
Saudi Arabia to
Crackdown Zamzam Water Mafia [Aug 12]
"Authorities have taken the necessary precautions to prevent the
thriving illegal sale of Zamzam water, which is available to all
pilgrims free of charge at the Haram mosque. The holy water will be
accessible to Umrah pilgrims. A five member committee has been formed
to track down the so-called Zamzam mafia, mainly illegal Africans and
south Asians, who virtually monopolised the holy water distribution at
the refill station in the past.. ..Committee members have assembled to
directly supervise the water distribution at the Kuday station. The
gang members, who usually man the taps are no longer seen. In the
past, especially during Ramadan and Haj, pilgrims were unable to fill
Zamzam cans unless they pay the gang members. The mafia have also
pushed people away from the taps. The committee is comprised of
officials from Makkah police, traffic, Jawazat, municipality and the
security department called Al Mujahideen.." [more]
Saudi Arabia Requests
Airborne Upgrades Worth Over $2 Billion [Aug 12]
"On August 5 and 6, the US Congress has been notified of a
possible Foreign Military Sale (FMS) to the Government of Saudi Arabia
of two different airborne upgrades worth some $2 billion. In one of
these requests, the Government of Saudi Arabia enquired with the US
for a possible deal on a two-phased approach for the Communication
Navigation and Surveillance/Air Traffic Management upgrades of the
communication and navigation systems for the Royal Saudi Air Force’s
fleet of 13 RE-3 ELINT aircraft, KE-3 aerial tanker and cargo
aircraft, and E-3 AWACS aircraft worth $1.5 billion. Furthermore, the
Government of Saudi Arabia has asked the US for services to upgrade
those aircraft which use the TASS (Tactical Airborne Surveillance
System) with High Frequency, Very High Frequency/Ultra High Frequency
secure voice/data systems and crypto systems as well as modification
of existing ground stations. Including test equipment, spare and
repair parts the contract would be worth some $530 million.." [more]
~~~~~~~~ [ Aug
11]~~~~~~~~~
KSA Slams Israel Over
E. Jerusalem Evictions [Aug 11]
"The Cabinet Monday condemned Israel’s latest atrocities
against the Palestinian people, involving the expulsion of Palestinian
families from their homes in occupied East Jerusalem. A statement
issued by the Cabinet, which was chaired this week by Prince Naif Bin
Abdul Aziz, Second Deputy Prime Minister and Minister of Interior,
called upon the international community to “seriously and firmly”
address the criminal acts by Israel and force it to abide by the
United Nations resolutions on Palestine. The Cabinet noted that the
message sent by Custodian of the Two Holy Mosques King Abdullah to
Palestinian President Mahmoud Abbas last week was 'a heartfelt
expression of pain over the differences among the Palestinians which
only serve their enemies at the expense of the Palestinian, Arab and
Muslim cause.'.." [more]
Closure of Television
Station Marks Another Censorship Debate [Aug 11]
"Nearly a month after Mazen Abdul Jawad was arrested for
discussing his sexual exploits on a Lebanese television station, Saudi
officials closed two offices of the Lebanese Broadcasting Corportation
(LBC), according to the Saudi Gazette, an English-Language daily based
in the Kingdom. On Saturday, the Ministry of Culture and Information
closed the LBC's office in Abdul Jawad's hometown of Jeddah. On
Monday, the Ministry closed the Riyadh office.. ..While the Jeddah
office was officially closed for operating without a license on orders
from Deputy Prime Pinister Prince Nayef bin Abdul Aziz, the Abu
Dhabi-based daily the National reports that Ministry of Culture and
Information spokesman Abdul Aziz al-Hazzaa said the closure 'was
because of the interview with Mazen Abdul Jawad.'.. ..The closure of
the LBC offices mark the second time this year that Prince Alwaleed
bin Talal's media Empire has been embroiled in the media control
debate in Saudi Arabia. Prince Alwaleed, who owns an 85% stake in LBC,
was accused by his brother of using media outlets to propagate vice
this past June.." [more]
Saudi Braces as Flu
Imperils Haj [Aug 11]
"A revenue shortfall looms for the kingdom’s economy as
sickness worries and bans on some groups threaten to slow Haj-related
spending this year. David George-Cosh reports. As the world prepares
for another round of swine flu, Saudi Arabia is bracing for a sharp
fall in travel and tourism spending since health officials in many
countries have warned vulnerable groups against undertaking the Haj
and Umrah due to fears of contracting the virus while others have
banned certain age groups this year. The kingdom’s travel and
tourism sector could lose as much as 25 per cent of the expected
revenue from Muslim pilgrims.. ..Any losses due to travel cutbacks
mark the first real example of swine flu’s impact on the economy.
Since the virus, officially known as the H1N1 strain of influenza,
began infecting humans in Mexico last April, its immediate impact has
been clear. More than 162,000 people have been affected and the
epidemic is responsible for 1,154 deaths worldwide.." [more]
Nigerian President to
Visit Saudi Arabia for Medical Checkup [Aug 11]
"Nigerian President Umaru Yar’Adua will travel to Saudi Arabia
on Aug. 14 for a medical checkup, his spokesman said. Yar’Adua will
also perform the Muslim pilgrimage during the weeklong trip, Olusegun
Adeniyi said yesterday in a statement on the president’s official
Web site. A visit last year by Yar’Adua generated speculation about
the state of his health, with some Nigerian newspapers reporting he
had undergone surgery for a kidney ailment while he was officially on
a religious pilgrimage. Yar’Adua, who turns 58 on Aug. 16, came to
power in Nigeria, Africa’s most populous nation, in May 2007.."
[more]
Tide Turns for Gulf
Economies [Aug 11]
"They say a rising tide lifts all ships, but the oil-rich
economies of the Persian Gulf are likely to rise further and faster
than most. With oil prices back around $70 a barrel and new evidence
suggesting a stronger-than-expected U.S. economic recovery, confidence
is returning to the region after the somber reality check of the last
year. Six months ago the region's economic planners were coming to
terms with the prospect of their first budget deficits in almost a
decade as crude hovered as low as $34 a barrel. But the possibility of
higher demand from the world's biggest economy could see a dramatic
turnaround in sentiment across the Middle East. Saudi Arabia, the
region's economic powerhouse, is now predicted to post a
"small" budget surplus this year.. ..Resurgent growth in the
Gulf could also be good news for U.S. and European exporters as oil
wealth once again fuels the region's thirst for consumption. Saudi
Arabia has already committed to spend $400 billion over the next five
years to build infrastructure and stimulate growth. Much of that work
will be done by western companies. Meanwhile, sovereign wealth funds
in the region may be let off the leash to rebuild their battered
portfolios, providing a further boost to financial markets.." [more]
OPEC July Output Rises
For 4th Straight Month On Saudis [Aug 11]
"The Organization of Petroleum Exporting Countries Tuesday said
its members' oil production increased for a fourth straight month in
July above the group's production target. The increase, a bearish
signal for crude prices, highlights the rising amount of crude that
various OPEC members are putting into the global market at a time when
world oil demand is fading due to the close of the northern-hemisphere
summer peak driving season. Output from the 11 OPEC members bound by
production quotas rose by 105,000 barrels a day last month, led by an
unexpected increase from Saudi Arabia, the world's largest oil
exporter.." [more]
~~~~~~~~ [ Aug
10]~~~~~~~~~
Kingdom to Generate
10.8m Job Opportunities by 2014 [Aug 10]
"The Kingdom of Saudi Arabia (KSA) is expected to generate around
10.8 million jobs by 2014 to complete and sustain existing and future
projects, a recent study revealed. The study pointed out that only
5.45 million Saudi nationals will be ready to take the new jobs,
opening huge employment opportunities for expatriate workers,
including young Arab jobseekers. An estimated amount of $6 billion are
allocated for various residential projects in Saudi Arabia, which is
expected to give employment for Arab youth over the next few years.
The Kingdom is pursuing a 'super project' at an initial cost of around
$87.8 billion, a development program that is expected to generate over
1.5 million jobs by 2020.." [more]
9,000 Terror Suspects
Held in Saudi Arabia [Aug 10]
"Saudi Arabia has held more than 9,000 terrorism suspects
indefinitely since 2003, offering some religious
"reeducation" instead of trials, advocates say. Human Rights
Watch said in a report released in New York Monday that Saudi Arabia
only moved in October 2008 to try some detainees, announcing in July
that it had convicted more than 300 on terrorism charges in trials the
international group said were secret and unfair. Some of the Saudis
detained under its counterterrorism program were peaceful political
dissidents whose cases were never heard by judges because the
country's domestic intelligence agency, the Mabahith, which runs its
own prisons, allegedly prevented effective judicial oversight.."
[more]
Argentina Expo
Showcases Expansion of Holy Mosques [Aug 10]
"Exhibitions showcasing the huge expansion projects undertaken at
the Two Holy Mosques and achievements of Saudi Commission for Tourism
and Antiquities got going here Saturday evening. Juan Landaboro,
Deputy Secretary of Religions at Argentine Ministry of Foreign
Affairs, and Dr. Abu Bakr Bin Ahmad Baqadir, Undersecretary of Saudi
Ministry of Culture and Information for International Cultural
Relations, inaugurated the exhibitions as part of the Saudi Cultural
Days currently in progress in Argentina.. ..The inauguration ceremony
was attended by Issam Al-Thaqafi, Saudi Ambassador to Argentina and
Uruguay. Dr. Baqadir emphasized the importance of holding such
cultural exhibitions as they convey messages of peace, cordiality and
brotherhood between peoples. Through these exhibitions, he said, the
Ministry of Culture and Information seeks to introduce cultural and
civilized perspectives in the Kingdom and to contact with other
cultures.." [more]
Iran Halts Saudi
Flights to Limit Swine Flu [Aug 10]
" Iran has cancelled all flights to Saudi Arabia during Ramadan
to minimise the spread of swine flu, an aviation official was quoted
as saying by Jumhuri Eslami newspaper on Monday. 'In order to prevent
the spread of swine flu, there will be no flights from Iran to Saudi
Arabi during the holy month of Ramadan,' Reza Jafarzadeh, spokesman
for the Iranian civil aviation organisation said. Iran will despatch
flights from Tuesday to bring back all Iranian pilgrims currently on
pilgrimages in Saudi Arabia before the start of Ramadan, he said. Iran
has banned all pilgrimages to the Muslim holy places in Saudi Arabia
during Ramadan to control swine flu. Iranian health authorities have
said that no Iranian pilgrims will be in Saudi Arabia from August 22,
at the start of the holy month.." [more]
ABB Gets Orders Worth
$60M In Saudi Arabia [Aug 10]
"Swiss engineering company ABB Ltd. (ABBN.VX) said Monday it won
orders worth $60 million from Saudi Electricity Company, Saudi
Arabia's national power transmission and distribution utility, to
improve the power efficiency of 28 distribution substations..
..Products to be supplied include capacitor banks, reactors,
medium-voltage switchgear, protection and control equipment, and a
Supervisory Control and Data Acquisition system to help the utility
manage the flow of power in the network.." [more]
Lal Masjid Affectees to
Ask S Arabia Not to Give Asylum to Musharraf [Aug 10]
"Relatives and associates of victims of Lal Masjid operation have
decided to approach Saudi Arabian government to formally request not
to accord political asylum or any official status to former President
General (Retd) Pervez Musharraf because of his leading role in
'Operation Silence'. The decision to approach Riyadh was taken in
Islamabad following a report published in media on August 1, 2009 that
Saudi Arabia might consider giving political asylum to former
President Pervez Musharraf if he requested for a safe refuge.
Political sources believe that PML-N leaders may also be playing a
back-stage role in pursuing the case against Pervez Musharraf and
British MP Lord Nazir Ahmed is working more vigorously in compilation
of evidences to frame new charges.." [more]
Saudi to Keep Sept
Crude Supplies to Asia Steady [Aug 10]
"Saudi Arabia, the world's top crude exporter, will keep crude
oil supplies in September steady to August levels, industry sources
said on Monday. State oil firm Saudi Aramco will supply crude at 7 to
8 percent below contracted volumes in September, unchanged from
August, to one buyer, one of the sources said.." [more]
Passport Compulsory for
Haj Pilgrims [Aug 10]
"Minister of State for External Affairs Shashi Tharoor today
wanted those planning to go for Haj to apply for passports as Saudi
Arabia government had this time made it compulsory that only persons
with valid travel documents would be allowed. Earlier, Haj pilgrims
used to go to Saudi Arabia with a special pilgrims permit, but this
time, passport has been made compulsory along with a vaccination
certificate against viral fever, Tharoor told reporters after a
meeting of passport officers of southern and western regions here. Out
of the 1.10 lakh persons already selected for performing Haj by
various state haj committees, only 20,000 persons have applied for
passports.." [more]
~~~~~~~~ [ Aug
9]~~~~~~~~~
James Smith New US
Envoy [Aug 9]
"The US Senate has confirmed President Barack Obama’s
nomination of Brig. Gen. James B. Smith, of New Hampshire, to be
Ambassador to Saudi Arabia, replacing Ford Fraker whose tenure ended
in April. Brig. Gen. James B. Smith most recent posting was as deputy
commander, Joint Warfighting Center, US Joint Forces Command, in
Suffolk, Va. His aviation career includes 4,000 hours in the F-15 and
T-38, including combat sorties during Desert Storm.." [more]
Saudi Closes
Broadcaster After Sex Confession [Aug 9]
"Saudi Arabia has closed the Jeddah office of a Lebanon-based
television network after it aired an interview with a Saudi man
speaking about his sexual escapades, a government spokesman said on
Sunday. Mazen Abdul Jawad, 32, was arrested last month in the Red Sea
city of Jeddah after shocking Saudi Arabia, one of the most
conservative countries in the world, by recounting details of his
sexual exploits on Lebanese channel LBC. The divorced father of
four spoke to camera from his bedroom in Jeddah about how couples can
spice up their sex lives. "Everything happens in this room,"
he said on an episode of the show Ahmar Bilkhat Al Areed (Wide Red
Lines), before launching into descriptions of tricks for cruising
women on the streets of Jeddah.." [more]
Kingdom Establishes
Ties With Kosovo [Aug 9]
"Saudi Arabia formally established diplomatic ties with Kosovo
following the signing of the protocol accord for diplomatic relations
by Khalid A. Al-Nafisee, permanent representative of Saudi Arabia to
the United Nations, and Avni Spahiu, Kosovo ambassador to the United
States, at the UN office on Friday. A close ally, the Kingdom has also
been one of the top donors to Kosovo, which broke away from Serbia and
declared its independence in February 2008. 'A significant number of
countries from the Middle East will be following Saudi Arabia’s lead
in recognizing Kosovo and in boosting links with that state on all
levels,' Al-Nafisee said in a statement to Arab News on Saturday.
'Riyadh, which seeks to strengthen ties in all sectors, is a close
ally of Kosovo.' He said that the Kingdom became the 58th state to
recognize Kosovo in April this year despite reservations expressed by
many other countries on this issue.." [more]
24 Saudi Humanitarian
Aid Trucks Depart Egypt for Gaza [Aug 9]
"24 Saudi aid trucks departed Egypt for Gaza on Sunday morning,
to assist the Palestinians in the spirit of the upcoming Muslim month
of Ramadan, Arabic newspaper Dar Al Hayat reported. The convoy was
carrying 352 tons of food and medical aid to Gaza. The humanitarian
convoy was coordinated with the Egyptian government to assist the
citizens of Gaza.." [more]
Oil to Lift Gulf
Spending, Saudi Surplus Likely [Aug 9]
"Higher oil prices will help Saudi Arabia record a small fiscal
surplus in 2009, and underpin state spending in the Gulf region, but
the risk that oil prices will fall remains, EFG Hermes said in a note
published on Sunday. Saudi Arabia projected a $17.3 billion budget
deficit for this year, but with the rebound in oil prices, several
analysts have bet its books will edge into the black. Crude, which
soared six-fold between 2002 and 2008 and peaked at $147 a barrel in
July 2008, fell to $32 by December. It stood at $70 on Sunday..
..'With the higher oil revenue estimate, we are now forecasting that
Saudi Arabia will realise a small fiscal surplus in 2009,'.." [more]
Yemen Agrees to
Extradite Its Guantanamo Detainees To Saudi [Aug 9]
"The Yemeni government has agreed to transfer its Guantanamo
detainees to Saudi Arabia to rehabilitate them, well-informed sources
told Sahwa Net. The sources said that the first group of detainees
would arrive in Saudi in the next two months. Official sources had
cited that the Yemeni president Ali Abdullah Saleh exerted efforts to
induce the U.S. president Barack Obama not to extradite Yemeni
detainees to any other courtiers. For their part, the families
of the detainees refused measures aiming at extraditing their
relatives to any country except Yemen, demanding the Arab countries
not to accept them.." [more]
Saudi IWPP Attains Full
Production [Aug 9]
"Saudi Arabia’s first independent water and power project (IWPP),
developed by the Shuaiba Water & Electricity Company (SWEC), is
now in full production. The project, located 90 km south of Jeddah,
provides 880,000 cu m of desalinated water per day, and 900 MW of
electricity to Saudi water and electricity grids. The plant is
considered one of the largest IWPPs in the world, playing a major role
in providing water and electricity to the Western Region of the
kingdom (Makkah, Jeddah, Taif and Al Baha areas). Established by a
Royal Decree, the government has a 40 per cent share in the project..
..The successful completion of Shuaiba IWPP is a significant milestone
in the kingdom’s privatization program and should give developers
and their lenders considerable confidence for future IWPPs.." [more]
Deposits With Saudi
Banks Rise to SR916 Billion [Aug 9]
"Saudi Arabia’s banking sector is one of the strongest in the
Middle East and its strength is based on high profitability, strong
liquidity, high capitalization and strict supervision by Saudi Arabian
Monetary Agency (SAMA). Total deposits with Saudi banks grew to SR916
billion at the end of June 2009, since banks tried to attract more
deposits as interbank lending tightened, according to BMG Financial
Group’s Saudi Banking Sector Review released this week. Demand
deposits constitute 43 percent of the total deposits, partially driven
by higher demand for Islamic banking services, which provide a low
cost of funding for Saudi banks, and is one of the key reasons behind
their high margins. Meanwhile, 79 percent of demand and saving
deposits are secured from the private sector, as opposed to 21 percent
from government entities.." [more]
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