~~~~~~~~~ [ Feb 3 ] ~~~~~~~~~

Saudi Police Arrest 10 Terror Suspects [Feb 3]
"Saudi police have arrested 10 people who are accused of collecting donations and recruiting on behalf of militant groups.. ..The arrests follow claims in the U.S. bipartisan Iraq Study Group report issued in December that Saudi Arabia has been a source of funding for the Sunni insurgency in Iraq.. ..'Security special forces, as part of their efforts in fighting terrorism and its funding, managed to arrest a group of people carrying out illegal activities including collecting donations illegally ... and sending them to suspected parties,' Mansour al-Turki, the Interior Ministry spokesman said in a statement.." [more]

UN Refugee Chief Holds Talks in Saudi [Feb 3]
"Saudi Crown Prince Sultan bin Abdul Aziz has met UN High Commissioner for Refugees, Antonio Guterres, who is touring the Middle East to assess programmes for hundreds of thousands of Iraqi refugees in the region. Guterres underscored the importance of Saudi Arabia's contribution to the UNHCR's programmes and activities around the world, the official SPA news agency reported.." [more]

Saudi Stock Index Tops 7,000 Points Mark [Feb 3]
"The Saudi stock market was relatively calm last week despite announcements by some listed companies of their fourth quarter results. The Tadawul All-Share Index (TASI) broke through the 7,000 points barrier.. ..The Riyadh-based Bakeet Financial Advisors (BFA) said in its weekly report that it expects the market to be "rather steady with a cautious mood" in the coming weeks.. ..The stock market received a boost from the announcement in Riyadh last week from Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, that he would invest more than SR10 billion in the Saudi stock market and the real estate sector.." [more]

UN Experts Call for Ban on Racial Profiling [Feb 3]
"Human rights experts have called on governments to ban racial profiling by police and law enforcement officers, including so-called "terrorist profiling", and to investigate any abuses. While racial discrimination was clearly outlawed, people of a certain racial or ethnic type were still singled out in investigations into crimes or terrorism, according to the United Nations Working Group of Experts on People of African Descent.." [more]

~~~~~~~~~ [ Feb 2 ] ~~~~~~~~~ 

Fatah's Mahmoud Abbas to Meet with Hamas Leader in Saudi Arabia [Feb 2]
"Palestinian President Mahmoud Abbas will meet with Hamas' top leader in Saudi Arabia next week in another effort to negotiate a national unity government agreement.. ..The meeting between Abbas and Hamas supreme leader Khaled Mashaal was to take place Tuesday, the official said. The two leaders met in Syria last month, but failed to reach agreement on forming a government. The official spoke on condition of anonymity because the meeting had not been officially announced.." [more]

Saudi Telecoms Decision Tipped to Have Positive Impact [Feb 2]
"The decision taken by the Saudi cabinet on Monday increasing the volume of shares to be offered for public subscription and reducing the fees levied by the government for land and mobile phone services will have a positive impact in increasing citizens' investments in the telecom sector.. ..The Saudi government decided to reduce its levied fees on the telecom sector from 15 per cent to 10 per cent.." [more]

Saudi Police Seize Armed Man Entering Mecca Mosque [Feb 2]
"Saudi police arrested a man with weapons hidden under his clothes as he tried to enter the Grand Mosque in Mecca, Islam's holiest site.. ..Militants sympathetic to Al Qaeda launched a campaign to topple the US-allied Saudi monarchy in 2003. Sunni-Shi'ite Muslim violence in Iraq and Lebanon has raised fears of sectarian strife across the region. Militants stormed the Grand Mosque in Mecca in 1979, in a rebellion that was crushed two weeks later.." [more]

Oil Prices Advance as OPEC Output Reduction Begins [Feb 2]
"Oil prices have risen as OPEC's planned February production cut took effect and the market looked to cold winter weather in the United States.. ..The Organisation of Petroleum Exporting Countries, meeting in Nigeria in December, had decided to cut production by 500,000 barrels per day (bpd) from February 1, following a cut of 1.2 million bpd in November. Crude prices had dived below 50 dollars a barrel on January 18 in New York, hitting their lowest levels since May 2005 owing to a sharp increase in US crude stocks and a relatively mild winter across the northern hemisphere.." [more]

Tadawul Ends 0.8% Higher [Feb 2]
"The Saudi stock market was quiet during the week ending Wednesday January 31 as losing and small companies' shares returned to their rising trend. The Tadawul All Share Index (TASI) closed the week at 7,041.22, a marginal gain of 0.8 per cent over last week's closing figure. The Index has slumped by 11.2 per cent since the beginning of the year. The value of shares traded rose from 41.4 billion Saudi riyals last week to 41.7 billion Saudi riyals.." [more]

Turki Meets Bush [Feb 2]
"US President George W. Bush met with outgoing Saudi Ambassador to the Untied States Prince Turki Al-Faisal at the White House on Thursday. During their meeting, Bush underscored the importance and strength of relations between the Kingdom and the United States. The president also commended the efforts of Custodian of the Two Holy Mosques King Abdullah and Crown Prince Sultan, deputy premier and minister of defense and aviation, in solving the problems that threatened security in the Middle East.." [more]

~~~~~~~~~ [ Feb 1 ] ~~~~~~~~~ 

Saudi Medical Team Finds a Way to Stop Growth of Cancerous Cells [Feb 1]
"After almost two years of intensive research, a medical team at the Riyadh-based King Faisal Specialist Hospital and Research Centre (KFSHRC) has succeeded in stopping the growth of a gene responsible for causing lymphoma (cancer of immune cells). The team was able to isolate the gene called AKT.. ..AKT is a major factor in causing many types of cancer. The team, comprising a number of physicians and paramedics at KFSHRC, is chaired by Dr Khowla Al Kuraya, chief cancer researcher.." [more]

No Blair Pressure On Arms Deal [Feb 1]
"The attorney general has denied reports that Downing Street pressured him into ending a fraud probe into a BAE deal. Lord Goldsmith said the controversial decision to drop the inquiry into the arms deal with Saudi Arabia was taken by the Serious Fraud Office director.. ..The government says the investigation was dropped because it threatened national security, by damaging relations with Saudi Arabia - seen a key strategic ally in the so-called 'war on terror'.." [more]

DSI to Report to Saudi Authorities [Feb 1]
"The Department of Special Investigation (DSI) will send a team to Saudi Arabia to report on the progress of investigations into high-profile cases involving the deaths of four diplomats and the disappearance of a businessman.. ..Saudi Arabia asked the DSI to report on the progress and explain in detail how the agency has handled the cases and what it expects the outcomes to be, Mr Sunai said, adding that Saudi authorities may not expect any new culprits to be found. The Saudi diplomats were shot and killed in 1989 and 1990, and businessman Mohammad al-Ruwaili went missing in 1990. Saudi Arabia has suspected that Thai police may have had a role in the cases.." [more]

Oil Prices Climb Above $58 a Barrel [Feb 1]
"Oil prices edged up Thursday as OPEC was poised to put a new round of production cuts into effect.. ..The Organization of Petroleum Exporting Countries was set to begin its second round of production cuts, announced late last year, of 500,000 barrels a day of crude oil. While most analysts and tanker trackers believe the cartel has fallen well short of its first cut, Saudi Arabia added support to prices this week when it said it would cut its share _ 158,000 barrels a day _ starting Thursday.." [more]

Shoura Members Urge Legal Support for Vice Police [Feb 1]
"During a discussion of a report about the Commission for the Promotion of Virtue and the Prevention of Vice, Shoura Council members demanded that provisions be made to provide the commission with legal support. Shoura members requested that a legal division be established with lawyers and legal consultants defending commission members and taking court action against people who defame the institution and its members.. ..Shoura Council Chairman Dr. Saleh Bin-Humaid rejected remarks by some members saying that there is no tension between the commission and members of the public.." [more]

Movie on Pre-Oil Boom Kingdom in the Making [Feb 1]
"Saudi actor Abdul Ilah Al-Sinani will begin shooting a new film �Sinin Al-Rahmat,� in a few months. The story is of the Kingdom in the days before oil came to play a major role in Saudi life. Saleh Al-Fauzan is the director and scriptwriter of the film, which will be produced by Saudi Television in collaboration with MBC, Al-Sinani told the daily Al-Watan yesterday. Al-Sinani is currently in a film about an ancient Arab king, Abu Jaafar Al-Mansour which is being shot in Syria and Jordan.." [more]

~~~~~~~~~ [ Jan 31 ] ~~~~~~~~~ 

GE Energy Signs Gas Turbine Contracts in Saudi Arabia Worth 1 BLN USD [Jan 31]
"General Electric's GE Energy said it has signed contracts for two projects in Saudi Arabia with a combined value of around 1 bln usd. GE said it has signed an agreement to supply four combined-cycle power blocks including twelve Frame 7FA gas turbines and various other items to the Marafiq power generation and water project.. ..GE has also agreed with the Saudi Electric Company to provide 12 Frame 7EA gas turbines for the Riyadh Power Plant 9 project, along with technical advisory services and performance testing.." [more]

Saudi Arabia�s NAS Orders 20 Raytheon Planes [Jan 31]
"Saudi Arabia's National Air Services has ordered 20 passenger planes from Raytheon Inc worth at least $250 million for a low-cost airline it plans to set up, the US aircraft maker said. The deal, signed on Tuesday, makes National Air Services the launch customer for the new Hawker 750 light-mid jet. 'With an estimated value in excess of $250 million, the 20 aircraft order is the largest single order on record in the region,'.." [more]

UN Envoy in Iraq Visits Saudi Arabia Seeking Regional Support for Peace Efforts [Jan 31]
"The top United Nations envoy to Iraq visited Saudi Arabia today as part of his ongoing efforts to muster regional support to bring stability to the war-torn country. Secretary-General Ban Ki-moon�s Special Representative Ashraf Qazi, who over the weekend conferred with Syrian officials in Damascus, met with Saudi Foreign Minister Prince Saud Al-Faisal in Riyadh, the Saudi capital.. ..Mr. Qazi 'expressed the need for greater regional cooperation in supporting the Iraqi government�s reconciliation initiatives'.." [more]

Arab Bourses Mixed, Saudi Gains [Jan 31]
"Middle East stocks were mostly mixed yesterday with the Saudi bourse rising and Dubai and Abu Dhabi declining. Saudi Arabia�s Tadawul All Share Index yesterday rose 0.3% to 6940.63 as 40 stocks rose, 35 fell and 11 were unchanged. Saudi Basic Industries Corp, the largest maker of chemicals in the world by market value, added 0.3% to 100 riyals.." [more]

Saudi Arabia to Pare Oil Output Again [Jan 31]
"Saudi Arabia, which already has aggressively shaved its oil output in a battle to shore up prices, is tightening its spigots further this week, The Wall Street Journal reported Tuesday. A senior Saudi oil official said yesterday the kingdom had advised its customers of the impending 158,000 barrel-a-day cut, which takes effect Feb. 1, according to the report. The reductions, part of a broader campaign by the Organization of Petroleum Exporting Countries (OPEC), are intended to shrink inventories of oil that had ballooned last year as demand growth for petroleum faltered.." [more]

Putin to visit Saudi Arabia, Qatar and Jordan [Jan 31]
"President Vladimir Putin will travel to Saudi Arabia, Qatar and Jordan next week, the Kremlin announced yesterday. The Russian leader will visit Saudi Arabia at the invitation of Saudi King Abdullah Bin Abdul Aziz on February 11-12.. ..The trip will be the first for Putin to any of the three countries and comes as Moscow has increased its participation in trying to resolve conflicts in the Middle East.." [more]

Envoys Chosen on Merit: Saud [Jan 31]
"Foreign Minister Prince Saud Al-Faisal told Arab News yesterday that the Kingdom appoints its ambassadors based on their qualifications and their capabilities for success in their post and not on their affiliation to the royal family. 'There is no difference in terms of representation,' he said, referring to the appointment of Adel Al-Jubair as the Kingdom�s new ambassador to the United States, replacing Prince Turki Al-Faisal.." [more]

Saudi-Yemen Talks Set on Cross-Border Smuggling [Jan 31]
"A meeting of Saudi and Yemeni security officers will be held within three weeks to discuss measures to stop the increase in cross-border smuggling operations between the two countries, according to Lt. Gen. Talal Mohsen Angawi, director general of the border guards.. ..the meeting would discuss all aspects of border security, including across the border smuggling of weapons and drugs, organizing of pasturing, protection of livestock and intrusion of individuals. It will be followed by another meeting at the level of border guard directors general in both countries.." [more]

Business Visas Available in 24 Hours, Top Official Says [Jan 31]
"Foreign businessmen and investors can now get visas to Saudi Arabia within 24 hours directly from its missions abroad, says Muhammad Bin Ahmed Tayeb, director general of the Foreign Ministry�s office in the Makkah region. 'We have developed a new system for the issuance of business visas. Businessmen anywhere in the world can now apply for visas to visit the Kingdom, without any restrictions'.." [more]

German Trade Mission, JCCI Hold Exploratory Talks [Jan 31]
"A German business delegation headed by Minister of Economy, Labor and Transportation of Lower Saxony, Walter Hirche, visited the Jeddah Chamber of Commerce and Industry (JCCI) yesterday to establish relations between Saudi and German small and medium entrepreneurs. The delegation represents various sectors in industry and services including construction, machinery, management system and education.." [more]

~~~~~~~~~ [ Jan 30 ] ~~~~~~~~~ 

Saudi working to put out Mideast fires [ Jan 30 ]
A Saudi offer to broker a deal between warring Palestinian factions is the latest move to contain what King Abdullah has termed an explosive situation in the Arab world. Rival Palestinian leaders have welcomed Abdullah's offer to host a meeting in Islam's holiest city in a bid to end the power struggle between president Mahmud Abbas's Fatah and the ruling Islamist movement Hamas which has left more than 30 people dead in four days.  [more]

Saudi Arabia to cut oil output to raise prices - report [ Jan 30 ]
Saudi Arabia, which already has aggressively shaved its oil output in a battle to shore up prices, will reduce production by another 158,000 barrels per day from Thursday and more cuts are on the way, the Wall Street Journal reported, citing an unnamed senior Saudi official. The latest cut means Saudi Arabia will have reduced production by about 1 mln barrels per day in the past six months, the report said.  [more]

U.S. cool to Saudi Arabia's peace broker offer [ Jan 30 ]
The United States reacted coolly to an offer by Saudi Arabia to broker peace between rivaling Fatah and Hamas and stressed Hamas must renounce violence and recognize Israel. "Let me put it this way. What we would like to see is a Palestinian partner that is willing to talk about peace with the Israelis," White House spokesman Tony Snow said when asked if U.S. President George W. Bush supports the Saudi offer. "It is important to have a negotiating partner that renounces violence, acknowledges Israel's right to exist, and will abide by all prior agreements made by previous Palestinian administrations with the Israelis," Snow said. King Abdullah of Saudi Arabia called on Sunday Fatah and Hamas to hold emergency talks in the holy Muslim holy city of Mecca to stop the internal fighting between Hamas and Fatah and the Palestinian leaders on both sides said they would take up the invitation, although no date was set.   [more]

Saudi initiative is a 'life jacket' for warring rival factions [ Jan 30 ]
A number of Saudi political analysts have described the Saudi initiative of calling upon rival Palestinian factions to stop fighting and meet in Makkah as a 'life jacket' that was thrown at the right time. King Abdullah Bin Abdul Aziz made on Sunday an urgent appeal to the Fatah and Hamas factions to halt fighting and come to the negotiating table. The king called upon Palestinians to resort to reason and listen to language of dialogue over the language of arms, noting that what is happening on Palestinian soil is disgraceful and has tarnished the history of honourable national struggle of the Palestinians who have been martyred for the liberation of their homeland.  [more]

Saudi Arabia and Iran cooperating to try to ease crises in Iraq, Lebanon, Saudi FM says [ Jan 30 ]
U.S. ally Saudi Arabia and Iran are working together to try to calm the crises in Iraq and Lebanon, the Saudi foreign minister said Tuesday, despite Washington's efforts to isolate Tehran and stem its power in the Middle East. The mediation is an unusual step by two rivals, Saudi Arabia and Iran, that have been competing for influence in the region. Mainly Sunni Muslim Saudi Arabia has been increasingly vocal about its suspicions of mainly Shiite Iran's intentions.  [more]

Saudi king appoints his former foreign affairs adviser as new ambassador to U.S. [ Jan 30 ]
Saudi King Abdullah announced Monday that Adel al-Jubeir was the kingdom's next ambassador to the United States, according to a royal decree posted on the state-run news agency's website. Al-Jubeir, a commoner, is a U.S.-educated diplomat who was drafted by Abdullah in 2001 to repair Saudi Arabia's image in America after the Sept. 11, 2001 terrorist attacks. Al-Jubeir, 44, was foreign affairs adviser to King Abdullah when he was crown prince, is replacing Prince Turki al-Faisal, who quit last month after 15 months on the job.  [more]

Putin to visit Saudi Arabia, Qatar, Jordan Feb. 11-13 [ Jan 30 ]
Russia's president will visit Saudi Arabia, Qatar and Jordan at the invitation of the Middle East countries' leaders February 11-13, the Kremlin press service said Tuesday. Energy projects and the situation in the Middle East are expected to dominate Vladimir Putin's agenda in the Arab nations. It will be the first visit by a Russian leader to Saudi Arabia in the history of bilateral relations. Diplomatic contacts between the two countries, severed in the 1930s, were restored only in 1990 but remained fairly inactive. In September 2003, the current Saudi King Abdul Aziz bin Abdul Rahman Al-Saud, then crown prince, paid a visit to Russia, which marked a revival of bilateral ties.   [more]

Saudi Shi'ites mark Ashura with new confidence [ Jan 30 ]
Regional conflicts have emboldened Saudi Arabia's minority Shi'ites, and many openly identified with brethren across the Middle East on Tuesday when they marked the Ashura day of mourning. Hundreds of people in black joined street processions to mark the slaying in 680 of Prophet Mohammad's grandson, Imam Hussein. They marched under large pictures of semi-divine hero figures, including Imam Hussein and his father Imam Ali, as well as posters of Lebanese Shi'ite Muslim leader Hassan Nasrallah. "The fight against tyranny has come again," said a teenager who gave his name as Hussein as he marched in the Gulf coast town of Tarut. "With the political situation now and the corruption, we are making war on all oppressors."  [more]

Saudi to unveil new IT project [ Jan 30 ]
Executives at Saudi Arabia General Investment Authority (SAGIA) have confirmed today that the organisation's chief executive will present its latest IT project at an unveiling ceremony in Riyadh on February 5.. ..The new project, which is yet to be named, is thought to be the most significant IT deployment in the country's recent history, and is expected to have a profound effect on Saudi Arabia's overall economic situation.   [more]

Aramco continues talks with Dow on chemical plant [ Jan 30 ]
Saudi Aramco, the national oil company of Saudi Arabia, is seeking partnership with America's Dow Chemical Company for the construction of a petrochemical complex at Ras Tanura. A delegation from Saudi Aramco is currently negotiating the project with the American company.   [more]

~~~~~~~~~ [ Jan 29 ] ~~~~~~~~~ 

Saudi King Warns Iran to Stay Out of Iraq [ Jan 29 ]
In a rare comment over the weekend, King Abdullah of Saudi Arabia warned that Iran is not only interfering in Iraqi affairs, but is attempting to spread Shiite Islam in the majority-Sunni Middle East. The Saudi king told a Kuwaiti newspaper that he warned an Iranian envoy that Iran's actions were endangering the Gulf. As the defender of the Sunni faith in the Muslim world, Saudi Arabia is increasingly concerned about the spiraling sectarian bloodshed in Iraq, and about Iran's efforts to flex its political muscle in the region. But unlike the Americans, the Saudis are talking to Tehran.  [more]

U.S./Iran: Tensions Unlikely To Stoke Military Conflict [ Jan 29 ]
President George Bush on Jan. 23 said that he would rely on diplomacy to curb Iran's nuclear ambitions. Recent media reports have suggested that a U.S. military confrontation with Iran may be imminent. Washington clearly sees Tehran's growing influence as a serious policy challenge. As Bush struggles to win support for his revised Iraq strategy, there is a growing consensus in Washington that the true treat emanates from Iran. Fundamentally, these perceptions are rooted in the sense that Washington has lost the strategic initiative in the Middle East, an apparent weakness that Tehran intends to exploit.   [more]

King Offers to Host [Palestinian] Talks [ Jan 29 ]
Custodian of the Two Holy Mosques King Abdullah yesterday invited leaders of the warring Palestinian groups for talks in Saudi Arabia. �I invite them all, without differentiating between them, for an emergency meeting in the vicinity of the Grand Mosque in Makkah in order to discuss issues of dispute without any bias and without any interference from any party,� the king said.  [more]

Spreading Shia faith among Sunnis will not succeed: Saudi King [ Jan 29 ]
Saudi Arabia�s King Abdullah said in an interview published on Saturday that attempts to convert Muslim Sunnis to the Shia branch of Islam will not succeed, and that Sunnis would always make up the majority of the world Muslims. Although Abdullah did not mention Iran by name, his comments - rare for the Sunni monarch - appeared aimed at easing Arab concerns over the Persian Shia nation�s growing influence in the Middle East.  [more]

Alwaleed to Invest SR10 Billion in Stock Market, Real Estate Sector [ Jan 29 ]
In what is seen as a major boost to the Saudi stock market and the real estate sector, Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, announced here yesterday that he would invest more than SR10 billion in those two sectors as part of a strategic move to diversify his investment portfolios. Of the total amount, SR5 billion will be invested in local companies, including the Saudi Research and Marketing Group (SRMG) from the media sector. Banking, industrial and consumer goods manufacturing sectors will be the other beneficiaries of Prince Alwaleed�s investment portfolios. The shares of companies represented in these sectors are traded on the Saudi stock market.  [more]

SR60 Million Project Under Way to Expand Old Makkah Highway [ Jan 29 ]
The Transport Ministry has launched an SR60 million project to expand the old Makkah highway that links the holy city with Jeddah as well as Bahra, Heda, Jamoom and Shumaisi. The project will not only facilitate transport on this vital road but also reduce pressure on the Jeddah-Makkah Expressway. The contracting company has started its work from Um Al-Joud on the Makkah side, removing obstacles that stand in the way of the road.  [more]

93.9 per cent of Saudi Arabia's households have Satellite TV [ Jan 29 ]
While 93.9 per cent of Saudi Arabia's households have Satellite TV, some 48.4 per cent of households still tune into terrestrial TV. A major new survey by Arab Advisors Group reveals that terrestrial TV still has a good base in Saudi Arabia with 48.4 per cent of households stating that they tune into it.  [more]

Saudi Arabia: New Quotas [ Jan 29 ]
Last week, Ghazi al-Gosaibi, the labour minister, signalled the government's intent to push on with Saudiisation by raising the minimum number of Saudis employed by any company to 5%. The quota will still vary between sectors. Companies failing to meet the required percentage will be publicly named and barred from foreign recruitment.  [more]

Expat remittances plunge as ratio of Saudi GDP [ Jan 29 ]
Saudi Arabia has succeeded in cutting the ratio of expatriate remittances to its Gross Domestic product (GDP) by 50 per cent in 15 years, an Arab Monetary Fund (AMF) report said. Expatriate remittances as a ratio of Saudi GDP have decreased from 9.6 per cent in 1990 to 5.4 per cent in 2005, the report added. [more]

~~~~~~~~~ [ Jan 28 ] ~~~~~~~~~ 

No Alliance Against Iran � Abdullah [Jan 28]
Saudi Arabia yesterday denied suggestions that it was forging an alliance against Iran. �This is completely untrue and against our policy,� Custodian of the Two Holy Mosques King Abdullah said referring to Iranian media reports. �We don�t interfere in the affairs of others,� he said. [more]

5,000 More Scholarships for Higher Studies Abroad [Jan 28]
As many as 5,000 young Saudis will be sent abroad for postgraduate and undergraduate studies this year under the King Abdullah Scholarship Program, according to Deputy Minister of Higher Education Abdullah Al-Mojel. Seventy percent of the scholarships will be allocated for higher studies and the rest for the undergraduate and technical courses. The students will be given preparatory courses in their chosen fields before they go abroad. [more]

Saudis seek Palestinian dialogue [Jan 28]
Saudi Arabia's King Abdullah has invited rival Palestinian leaders to a meeting in Mecca aimed at ending a recent wave of factional fighting. In an open letter, the king described the clashes as a "disgrace" and urged leaders to make "dialogue prevail over the language of arms". [more]

Saudi king rejects talk of royal family rift [Jan 28]
Saudi Arabia's King Abdullah has denied talk of rifts within the royal family which rules the world's biggest oil exporter as an absolute monarchy, according to an interview published on Saturday. In the interview carried by state news agency SPA, the king said a heavily publicised appearance of numerous leading figures of the royal family at the return of a prince from a British hospital aimed to dispel talk of disputes.  [more]

Sunnis will not take up Shiism: King Abdullah [Jan 28]
Riyadh: King Abdullah of Saudi Arabia said in an interview that attempts to convert Muslims Sunnis to become Shiites would not work. In the interview, which was published on Saturday in a Kuwaiti newspaper, the Al Siyassah daily, King Abdullah said that Sunnis would always make up the majority of the world�s Muslims. The comments � unusual for the monarch � seem to be in response to Arab media claims that Iran is seeking to spread Shiism among Sunni Arab countries as a way of increasing Tehran�s political power. [more]

Saudi king says Iran putting region in danger [Jan 28]
Iran is putting the Gulf region in danger following its conflict with the United States over Iraq and its nuclear policy, a newspaper quoted Saudi Arabia�s king as saying. In the interview in Kuwait, King Abdullah also issued a veiled warning to Iran to quit what he said were efforts to spread Shiism in the Sunni-dominated Arab world. The United States and its ally Saudi Arabia accuse Iran of "interference" in Iraq through backing Shiite militias and parties. [more]

Saudi Officials Seek to Temper the Price of Oil [Jan 28]
Saudi Arabia, which benefited immensely from record oil prices last year, has sent signals in the past two weeks that it is committed to keeping oil at around $50 a barrel � down $27 a barrel from the summer peak that shook consumers across the developed world.  [more]

Saudi Ambassador: Public diplomacy is more important than ever [Jan 28]
�Having been given a voice by the media, the internet and satellite communications, people are empowered as never before to influence the outcome of world events,� Prince Turki said. �The people have a voice. Leaders listen. And the simple fact is: Governments can work together better when their constituents are supportive of their aims. Whether or not a nation�s citizens foster a positive environment toward a foreign people matters a great deal.� Prince Turki cited the Saudi-US relationship as an example of this point. While Saudi and US leaders have had close ties since King Abdulaziz Al-Saud and President Franklin D. Roosevelt met in 1945, relations between the two peoples have also developed. [more]

Gates: Women Key to Saudi Arabia Economy [Jan 28]
Bill Gates cited Saudi Arabia as an example Saturday of why he believes limiting the rights women can hinder economic growth. During a meeting on the sidelines of the World Economic Forum, Gates described speaking to a segregated audience at a recent business seminar in Saudi Arabia. [more]

Saudi king: Iran endangers Gulf [Jan 28]
Saudi Arabia told an Iranian envoy this month that Shia power Iran was putting the Gulf region in danger, in a reference to Iran�s conflict with Washington over Iraq and nuclear policy, a newspaper said. In the interview in Kuwait�s Al-Seyassah yesterday, King Abdullah also issued a veiled warning to Iran to quit what he said were efforts to spread Shiaism in the Sunni-dominated Arab world. The US and Saudi Arabia accuse Iran of �interference� in Iraq, through backing Shia militias and parties, and suspect Tehran is developing a covert nuclear weapons programme - a charge Iran denies. [more]

Alwaleed bets $1.3 bln Saudi stock crash is over [Jan 28]
Prince Alwaleed bin Talal, who has made billions of dollars investing in underperforming companies, said on Sunday he spent 5 billion riyals (680 million pounds) in the Saudi bourse this month betting a crash is over.. ..Saudi Arabia's benchmark index plummeted 52.5 percent last year, the worst performance among 81 indices tracked by Birinyi Associates Inc., a U.S. stock market research company. [more]

Saudi Arabia to send 5,000 students abroad for higher studies [Jan 28]
The Saudi Deputy Minister of Higher Education announced that the kingdom will send 5,000 Saudi students abroad for postgraduate and undergraduate studies under the $2.7 billion King Abdullah Scholarship Program.. [more]

Commerce Minister to open First Forum on Saudi Family Companies [Jan 28]
The participants of the forum will review a number of issues pertaining to the family companies. More than 90 percent of the establishments working in the kingdom belong to family businesses. [more]

Yemeni-Saudi cooperation on fighting malaria [Jan 28] 
Director general of the national program on fighting malaria disease Dr Shawqi al-Maweri said last Monday there were joint cooperation, efforts and activities for fighting malaria to be embarked on during this month. The cooperation in this field would be started on border areas between Yemen and Saudi Arabia.  [more]

Iran, Saudi Seeking Face-to-Face Meeting between Berri, Saniora [Jan 28] 
Iran and Saudi Arabia were seeking to establish a face-to-face meeting between Prime Minister Fouad Saniora and Parliament Speaker Nabih Berri in a fresh bid to settle the ongoing political impasse which has sparked fears of a return to civil war after bloody clashes left eight people killed. The daily An Nahar on Sunday, citing ministerial sources, said Iranian and Saudi efforts were underway to bring together Saniora and Berri who have not met since November when six Opposition ministers quit the government, triggering the current crisis.  [more]

Saudi SAGIA signs two major deals [Jan 28]
The Saudi Arabian General Investment Authority (SAGIA) has signed two major international and local deals with Singapore's Jurong International and Saudi Arabia's Communications and Information Technology Commission (CITC).. [more]

Saudi Arabia plans to increase water supply
The Saudi Arabian Saline Water Conversion Corporation (SWCC) has drawn up a plan to eliminate water shortages across the country. The plan, which has not been released, will solve the water problem by building new desalination plants, the corporation said. [more]

Jan 21-Jan 27, 2007

Saudi King: Spreading Shiism Won't Work [Jan 27]
"Saudi Arabia's King Abdullah said in an interview published Saturday that attempts to convert Muslim Sunnis to the Shiite branch of Islam will not succeed, and that Sunnis would always make up the majority of the world Muslims. Although Abdullah did not mention Iran by name, his comments _ rare for the Sunni monarch _ appeared aimed at easing Arab concerns over the Persian Shiite nation's growing influence in the Middle East. Arab media have claimed that Iran seeks to spread Shiism among the region's predominantly Sunni Arab countries as a way of increasing Tehran's political power.." [more]

Sabic Plans Move Into Specialty Chemicals [Jan 27]
"Saudi Basic Industries Corp., the world's biggest chemicals maker by market value, will start making specialty products in a bid to compete with European rivals like BASF AG and reduce vulnerability to price swings.. ..Petrochemical makers in the Middle East are expanding as they benefit from abundant raw materials, such as natural gas, and rising global demand for plastics, solvents and polymers. Saudi Basic, known as Sabic, this month completed a $685 million purchase of Huntsman Corp.'s U.K. units, gaining plants that make ethylene, benzene and related chemicals for European markets.." [more]

Saudi Arabia May Lower Spending to Contain Inflation [Jan 27]
"Saudi Arabia, the largest Arab economy, may cut government spending rather than revalue the currency to help slow inflation, the country�s finance minister said. 'Other tools are more effective� than changing the riyal�s peg to the dollar', said Ibrahim Abdel Aziz al-Assaf yesterday in an interview in Davos, Switzerland. 'If there is a need, then we�ll hold back on expenditure.' Inflation in Saudi Arabia, which accelerated to an annual 2.7% in October from an annual 0.7% in December 2005, according to Bloomberg calculations, is 'low by international standards, but we have to be watchful about increasing inflationary pressures,'.." [more]

Top 20 Businesswomen Supplement Coming [Jan 27]
"The first ever newspaper supplement focusing exclusively on Saudi businesswomen was signed into existence last week. The supplement, to be published annually, echoes the well-established Arab News Top 100 Saudi Companies annual supplement that ranks the performance of Saudi business as a whole. 'This is a real step forward in commercial publishing,' Arab News Editor in Chief Khaled Almaeena said .." [more]

CMA Decision Weighs Heavily on Saudi Stocks [Jan 27]
"The Saudi stock market continued to drop further last week. The Tadawul All-Share Index (TASI) shed another 3.16 percent last week, falling below the 7,000-point psychological barrier.. ..The Riyadh-based Bakheet Financial Advisors (BFA) said in their weekly report that the market had come under pressure from a decision by the Capital Market Authority (CMA) to suspend trading of Anaam International Holding Group Co. shares as of Jan. 20. The CMA said the firm had accumulated losses amounting to 95 percent of its capital.." [more]

Varsities to Focus on Job Market Needs [Jan 27]
"Saudi universities will focus on developing skills such as English-language proficiency required by the market, according to Higher Education Minister Dr. Khaled Al-Anqari. 'Proficiency in English language is one of the basic skills required by Saudis in order to compete in the job market,' the minister said, admitting that Saudi universities were lagging behind in English.. ..Anqari said Saudi universities are thinking of expanding student exchange programs with the support of other world universities by concluding bilateral agreements.." [more]

Saudi Arabia , China to Boost Cooperation in Oil Sector [Jan 26]
"Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi met here yesterday with Maa Kai, president of China's National Development and Reform Commission, to discuss increasing cooperation between Saudi Arabia and China in the field of oil.. ..Naimi said the Chinese imports of Saudi oil amounted to 470,000 barrels per day with an increase of 7 percent over 2005. These imports accounted for more than 16 percent of China's need of imported oil. He also expected Chinese imports of Saudi oil would continue to increase in the coming years.." [more]

Saudi Seeks to Make Tadawul a Close Shareholding Company [Jan 26]
"The Saudi Ministry of Commerce and Industry is seeking a royal decree to licence the establishment of the Saudi Capital Market � Tadawul � as a close shareholding company after completion of the procedures required by the ministry.. ..Experts have welcomed the decision as the right one under the circumstances. They say that this was significantly having a negative impact on the performance of the stock market as a whole through the loss of capital and high speculation increasing the risk premiums of volatility and uncertainty in the whole market. The decision will make the stock market healthier and regain confidence of the people dealing in stocks.." [more]

PSA Celebrates Historic Million Dollar Saudi Agreement [Jan 26]
"The Professional Squash Association has finalized a record agreement in professional squash worth more than one million US dollars in Saudi Arabia. The deal, according to PSA media release, has come just over a week after announcing a major three-year agreement in Kuwait.." [more]

Experts Lambast Universities' Curriculum [Jan 26]
"Saudi experts and academicians have harshly criticised the education curriculum at Saudi universities. They noted that the curriculum is full of knowledge-related subjects but failed to enrich the students intellectually and culturally.. ..Performance of Saudi universities also came under attack recently by a number of columnists in the local press following the release of a global rating of world universities. The ranking has put Saudi universities at the bottom of the list, a matter that sparked a debate among Saudi 
academics who called for urgent reform in the education system.." [more]

Gulf States Likely to Shift Assets Away From US [Jan 26]
"..Middle Eastern countries have been scaling back their once near full reliance on US assets in recent years to cut risks and improve returns as they diversify the massive windfall from oil and gas revenues. 'Regionally there is less evidence of enthusiasm to be the major owner of US assets. It doesn't mean U investments will go away but you will find governments and agencies looking at a wider range of opportunities,' Phillip Thorpe, chairman and chief executive officer of Qatar Financial Centre Regulatory Authority, said.." [more]

Harvard Inaugurates Alwaleed Program [Jan 26]
"The Prince Alwaleed bin Talal Islamic Studies Program at Harvard University was inaugurated recently. The program, established with a $20-million gift from Prince Alwaleed in 2005, is aimed at building on Harvard�s commitment to religious studies. It will also augment Harvard�s existing strength by increasing the number of faculty members focused on Islamic studies, providing additional support to graduate students and digitizing rare Islamic texts.." [more]

U.S. Opposes Iranian, Saudi Meddling in Crisis [Jan 25]
"The United States yesterday criticized Iranian overtures to Saudi Arabia suggesting the two countries cooperate to resolve a political crisis between the Lebanese government of Prime Minister Fuad Siniora and the Shi'ite group Hezbollah.. ..'We certainly wouldn't support any effort to try to negotiate something over and above the heads of the Siniora government,' State Department spokesman Sean McCormack told reporters.." [more]

Saudi Princess, at Davos Forum, Says: 'I'd Let Women Drive' [Jan 25]
"The most prominent princess in Saudi Arabia's royal family said Thursday that if she could change one thing about her country, she would let women drive a rare and direct challenge against the driving ban imposed by the kingdom's ruling male elite.. ..the daughter of a former Saudi king and sister of the country's current foreign minister, came during a session at the World Economic Forum's annual meeting a forum known for getting world leaders to engage in frank, often off-the-record dialogue without fear of being criticized.." [more]

Saudi Arabia, U.S. Lead Donors Raising Lebanon Aid [Jan 25]
" Saudi Arabia, the U.S. and France lead donors pledging a total of $7.6 billion in new funds to help rebuild Lebanon and lend support to Prime Minister Fouad Siniora's government.. ..The aid conference, called to help Lebanon rebuild after Israel's war on its Shiite Muslim Hezbollah militia last July and August, comes after Hezbollah organized strikes and protests in Beirut two days ago, in which three people died and at least 100 were injured. Hezbollah has been trying to topple Siniora, a Sunni Muslim who is backed by the U.S. and its allies. U.S. Secretary of State Condoleezza Rice, speaking alongside Siniora, indicated that aid will remain conditional on Lebanese policy, whoever is in power.." [more]

Rights Group Urges Saudis to Stop Ahmadi Arrests [Jan 25]
"US -based Human Rights Watch has said Saudi Arabia was arresting and deporting Ahmadi Muslims on the basis of their religious beliefs and urged it to stop. The group, which wrote a letter to Saudi King Abdullah, said that the Saudi government had arrested 56 non-Saudi followers of the Ahmadiya movement, including babies and children, and deported at least eight to India and Pakistan without charging them with a crime. The Ahmadiyya movement defines itself as Muslim but is not recognized by some mainstream Muslim groups because of its divergent beliefs.." [more]

Saudi Stock Index Falls Below 7,000 [Jan 25]
"The Saudi stock market failed to gain positive momentum from the announcements of financial results of listed companies. The Tadawul All-Share Index (TASI) plunged below the 7,000 points mark for the first time in more than two years. The index tumbled 168.56 points or 2.36 percent yesterday to close at 6,987.86 points, its lowest close since Oct. 21, 2004. The index is already down 11.92 percent or 945.43 points so far this year after closing at 7,933.29 on Dec. 31, 2006.." [more]

Better Homes Drives Business in Region [Jan 25]
"As the region's economy continues to boom, big name businesses like Virgin, Adidas, Benetton, Sicily, Pizza Hut, Starbucks and Boots are finding their way to the Middle East and Asia with the help of Better Homes, the region's biggest realtor. Last year (2006) saw Better Homes' Commercial division enjoy record highs as a flood of businesses from around the world sought entry to the region.. ..In Saudi, Virgin, one of the world's fastest growing brands has leased its first Megastore - courtesy of Better Homes. The shop at Roshana Mall in Jeddah is located on Tahlia Street, one of the most prestigious commercial areas in Saudi and is the first of many the company plans to open in the Kingdom.." [more]

6,000kg of Narcotics Seized [Jan 25]
"More than 6,000 kg of narcotics were seized by the Saudi border patrol in the eastern province, according to the annual statistics report for 2006. The report shows that 471 infiltrators who managed to cross into the kingdom illegally were caught and 31 hashish smugglers arrested while trying to smuggle in the drugs.." [more]

Saudis Issue 1,389 Project Licences in 2006 [Jan 25]
"The value of licences issued by the Saudi Arabian General Investment Authority (Sagia) in 2006 increased 25 per cent over the previous year, according to press reports. Sagia licensed 1,389 joint and foreign investment projects last year, worth a total of 253 billion Saudi riyals. Sagia, the gateway to investment in Saudi Arabia, was established by the government in 2000, part of a new foreign investment law.. ..This year Sagia will prepare specialised economic reports for each region to highlight investment opportunities.." [more]

Saudi Oil Minister May Meet With China's Energy Officials [Jan 25]
"Saudi Arabia's oil minister Ali Naimi may hold talks with senior Chinese energy officials Thursday, but China's government declined to confirm any such meeting. The Saudi minister is also expected to meet with senior officials of China's top energy companies, and negotiations may center on the building of two key refineries on China's eastern coastline. Saudi Arabia is also expected to engage in further talks on joint efforts with the Chinese to build China's strategic oil reserves. According to an industry person, who declined to be named, Naimi will meet with several officials from the energy bureau of the National Development and Reform Commission - the country's top economic planning agency.." [more]

Outgoing Saudi Ambassador to Give First 2007 Landon Lecture [Jan 25]
"The outgoing ambassador of Saudi Arabia to the United States will present the first 2007 Landon Lecture Friday. Appointed ambassador on July 20, 2005, Prince Turki al-Faisal is the 147th lecturer in the lecture series' 40-year history.. ..Michael Suleiman, distinguished professor of political science, said Prince Turki's comments on Middle East politics are important since Saudi Arabian relations influence the United States and the Middle East region.." [more]

Saudi Foreign Minister Warns Against Partitioning Iraq [Jan 24]
"The Saudi foreign minister, Prince Saud al-Faisal, warned against partitioning Iraq along sectarian lines and told Iran not to 'meddle' in Arab affairs. 'For Saudi Arabia, a partition of Iraq is inconceivable. It is essential to avoid it'.. ..With sectarian violence raging in Iraq, many now talk openly of partition along sectarian lines, which would end U.S. hopes of promoting a unified, democratic Iraq.." [more]

US Will Need Mideast Oil for Years - Saudi Envoy [Jan 24]
"..US policymakers should be talking about interdependence with Middle East suppliers, not independence, said Prince Turki Al Faisal, the kingdom's US ambassador, speaking at George Washington University.. ..The United States and other nations "will remain in need of the resources of our part of the world in the energy sector for many years to come and that is something that your people should realise," he said.." [more]

New Saudi Construction Firm Formed Amid Strong Demand [Jan 24]
"Amid a record growth in the Kingdom's construction industry as well as in the rest of the Gulf region, a new Saudi closed joint stock construction company was unveiled here yesterday. Construction Products Holding Company (CPC), with a capital of SR107 million, is 49 percent owned by the Bin Laden Group and the rest shared by another group of Saudi businessmen. The capital is divided into 10,700,000 shares, valued at SR10 per share.. ..According to real estate companies' statistics, the number of housing units will double to exceed 9 million units within the next 20 years. In line with population growth, the government and the private sector are trying to meet such demands.." [more]

Saudi Loan Defaults Up on Stock Losses [Jan 24]
"Loan defaults increased over losses incurred in the Saudi stock market, Finance Minister Ibrahim Al-Assaf said during a press conference here recently. 'The rate of defaults to the Real Estate Development Fund (REDF), a major source of real-estate financing in the Kingdom, exceeded 30 percent in 2004,'.. ..The defaults, he said, led to the decrease in the issuance of new loans. "The current sources of loans for real estate financing are insufficient to meet the increasing demand for housing," the minister observed.." [more]

Northern Cyprus Seeks Strong Relations With Saudi Arabia [Jan 24]
"Turkish Republic of Northern Cyprus (TRNC), which holds an observer status in the Organization of the Islamic Conference (OIC), seeks to establish stronger political and business relations with Saudi Arabia according toDr. Turgay Avci, deputy prime minister and foreign minister.. ..'We would like to establish a representative office in Riyadh and a trade and tourism office in Jeddah very soon,' the deputy premier said while talking to reporters after a meeting with Dr. Ahmed Mohamed Ali, president of the Islamic Development Bank and Saudi entrepreneurs in Jeddah yesterday. Avci said he would visit the Kingdom again next month to attend the Jeddah Economic Forum and establish contacts with Saudi authorities.." [more]

Arab League's Moussa Warns U.S. Against Iran Attack [Jan 24]
" The threat of a U.S. attack on Iran is very serious and would risk spreading sectarian violence throughout the Middle East, Arab League Secretary General Amr Moussa said on Wednesday. 'It's a 50/50 proposition, and we hope that it won't happen. Attacking Iran would be counterproductive'.. ..His concern over an looming U.S.-Iran confrontation was shared by business leaders and political commentators at an opening session on the Middle East at the Forum, an annual gathering of the world's rich and powerful.." [more]

Saudi Won't Take Sides in Iraq [Jan 23]
"Saudi Arabia will not take sides in Iraq's sectarian violence and support its Sunni brethren even if US troops quickly leave the country, Saudi Arabia's ambassador to the US said. 'We'll keep an equal distance from all Iraqi factions'.. ..He denied a New York Times story published last month that said Saudi King Abdullah told visiting US Vice-President Dick Cheney that the Saudis might back Iraqi's minority Sunni population over the majority Shi'ites if fighting continued between the two groups after any US troop withdrawal.." [more]

TWC Gets Green Light to Run Wholly-Owned Subsidiary in Saudi [Jan 23]
"Mainboard-listed Tiong Woon Corporation (TWC) has become the first Singapore company to get a licence to run a 100% foreign-owned business entity in Saudi Arabia. The oil and gas services provider rents out construction cranes and puts together heavy equipment on site. And it is planning to use Saudi Arabia as a entry point into the Gulf region.." [more]

Six Jailed Over Saudi Play Attack [Jan 23]
"Six Saudis have reportedly been jailed in connection with an attack on actors taking part in a play critical of hardline religious attitudes. Reports from Riyadh say one person was sentenced to two months in jail, while five others received shorter sentences.. ..The play, in a cultural festival last November, had to be abandoned after Islamists stormed the theatre.." [more]

Saudi Obesity Alarm [Jan 23]
"A health study has found that 45% of Saudi women and 23.5% of Saudi men are obese, Arab News reported. The joint research by the King Faisal Specialist Hospital and Research Center and the Ministry of Health measured the body mass index of 5,000 men and women across the kingdom. Hail was found to be the 'fattest city', with 34% of its population considered obese.." [more]

Saudi Women Being Encouraged to Open their Own Businesses [Jan 23]
"Saudi women, who have no registered business but have the acumen, can now open their own enterprises with the support of local chambers of commerce and industry.. ..'When a Saudi woman entrepreneur is successful in creating a business or enterprise of her own, the chamber will provide her all the support in terms of more training to operate and manage business and guide her on getting finance,' the EPCCI official said. Women should not only be working in lingerie shops, but should be encouraged to become entrepreneurs.." [more]

$55 Opec Basket Price Reasonable [Jan 23]
"A reasonable price for Opec's crude basket is $55 a barrel, Opec's president said, at least $5 higher than the reference price now stands. Mohammed Al Hamli, also oil minister of the UAE, said Opec ministers were not "panicking" over oil's 13 per cent plunge since the start of the year, but prices should be high enough to protect investment in new projects.. ..Opec's reference basket, valued about $5 to $6 below US crude, was $49.63 on Monday.." [more]

Abdullah Calls for Reforms, Development [Jan 23]
"King Abdullah yesterday urged Muslim countries to continue their reform and development programs in order to promote the progress and prosperity of their citizens.. ..Abdullah reminded Muslims of their role in spreading the values of justice and love all over the world. 'Brotherhood, mercy and tolerance are the hallmarks of Islam,' he said, while lamenting the suffering of people in some parts of the Islamic world as a result of wars, catastrophes and internal conflicts.." [more]

S.Korea Seeks Stable Saudi Oil Supply [Jan 22]
"Saudi Arabia's oil minister has Monday pledged a stable crude and oil supply for South Korea, Seoul officials said. During a meeting with South Korean President Roh Moo-hyun, Saudi Oil Minister Ali Al-Naimi said he would do "his best to maintain stability in his country's energy supply for South Korea, as well as in international markets," Roh's office in Seoul said in a statement. Al-Naimi also called for South Korea to make more investment in the Gulf country, saying his country is seeking industrial diversification.." [more]

Saudi Stock Market Struggling as Small Cap Firms Extend Losses [Jan 22]
"Saudi Arabia's stock index struggled to close in positive territory yesterday after small caps extended losses on fears that the bourse regulator would widen its suspension of loss-making stocks.. ..The Riyadh index, benchmark of the Arab world�s largest stock market, closed at 7,163.83 points, up 0.28%. Al-Rajhi Banking & Investment Corp, Saudi Arabia�s largest lender by market value, rose 1.52% ahead of the bank�s announcement after market hours that its fourth-quarter net profits rose 19.5%.." [more]

High-Profile Personalities in Saudi Delegation to WEF [Jan 22]
"Saudi Arabia will be represented at the five-day annual World Economic Forum meeting in Davos, Switzerland by a number of high-profile government and business leaders, academics and media personalities.. .. the Saudi delegation includes Minister of State Abdullah Zainal Alireza; Saudi Basic Industries Corp. CEO and Vice Chairman Mohamed Al-Mady; Effat College Board of Trustees Vice Chair Princess Lolwah Al-Faisal.."[more]

Saudi Arabia to Study NATO Proposal [Jan 22]
"Saudi Arabia yesterday said it would study a NATO proposal to join four other GCC countries in the NATO's Istanbul Summit Communiqu�, but said that there must be a complete understanding of its regional goals and agendas. 'The Kingdom will study the proposal submitted by NATO to join the Istanbul Summit,' said Foreign Minister Prince Saud Al-Faisal yesterday. The symposium, 'NATO and the GCC: Cooperation Within the Framework of the Istanbul Summit,' was opened by Prince Saud.." [more]

OPEC Dumps $10.1 Billion of Treasuries as Oil Tumbles [Jan 22]
"OPEC nations are unloading Treasuries at the fastest pace in more than three years as crude oil prices tumble, sending bond yields higher. Exporters including Indonesia, Saudi Arabia and Venezuela, sold 9.4 percent, or $10.1 billion, of their U.S. government debt securities in the three months ended in November, according to Treasury Department data. Members of the Organization of Petroleum Exporting Countries last sold Treasuries for three straight months in June 2003.." [more]

Cooperation Needed for Peace in Mideast [Jan 22]
"A Saudi minister has described the Middle East as the most tumultuous region in the world due to the deterioration of security in Palestine and Iraq and neighbouring Afghanistan and Somalia.. ..Prince Saud noted that extremist ideologies are growing due to the failure of the international community to settle chronic disputes within the basis of international legitimacy.." [more]

Labor Minister Responds to Conditions Imposed by Manila [Jan 22]
"..Manila-based Philippine Overseas Employment Administration (POEA) imposed new conditions on recruitment of Filipino domestic workers and raised the housemaids� monthly salary to SR1,500 from the present SR700. Saudi sponsor alone can decide and fix the minimum salary based on the wage fluctuations while employing foreign laborers, Al-Gosaibi said. 'The Saudi labor market is open and Saudi employers are free to recruit foreign workers from any country they wished'.." [more]

Foreigners Can Invest in Hospitals [Jan 22]
"Foreigners can now invest in hospitals provided the number of beds should be at least 150, reported Al-Madina Arabic language daily Sunday. Health Minister Dr. Hamad Al-Mane� issued directives in this regard meant to expand the existing health care facilities. Investors can apply for license to the Medical Licenses Administration, but the ministry remains the overall authority.." [more]

Artificial Rains Project to Address Water Shortage [Jan 22]
"Saudi Arabia will expand its artificial rain program to cover all parts of the country in order to meet growing need for water for its increasing population as well as for agricultural and industrial purposes, according to Dr. Ahmed Ashour, the program�s general supervisor.. ..Ashour said the official launch of the program would take place after six months. A team of 60 Saudi and American experts has been working on the project since last October, Ashour said, adding that the studies conducted by the team were encouraging.." [more]

UK Trade Delegation Takes to the Rails [Jan 22]
"..The UK�s first Railway Sector Mission to Saudi Arabia is underway through Tuesday. The Mission was arranged by UK Trade & Investment (UKTI) in association with the Railway Industry Association (RIA).. ..The members of the trade delegation are in Saudi Arabia in order to give select UK companies the opportunity to present their knowledge and experience to decision makers within the Saudi Arabian railway industry. The mission members will also gain an insight into the key railway projects being undertaken in the Kingdom.." [more]

Saudi Arabia Underscores In-Depth Cooperation With NATO [Jan 21]
"Saudi Foreign Minister Prince Saud Al-Faisal inaugurated here on Sunday a seminar entitled "NATO-GCC Cooperation Within the Framework of Istanbul Initiative" praising the approach of the regional states to broaden cooperation with the Western alliance.. ..Prince Saud said the Middle East is one of the regions in the world that is characterized by turmoil. He called for effective international cooperation to bring about stability in the region, according to official Saudi Press Agency (SPA).." [more]

Businesswomen From US Eyeing Investment in the Saudi Arabia [Jan 21]
" A group of American businesswomen under the sponsorship of the Global Women's Foundation (GWF) yesterday discussed investment opportunities and joint business ventures in the Kingdom with their Saudi counterparts in a meeting held at the Jeddah Chamber of Commerce and Industry (JCCI).. ..The American businesswomen sought opportunities in the financial, industry and tourism sectors.." [more]

Saudi Arabia Banks Invest 13.4b Riyals in Properties [Jan 21]
"Saudi banks pumped 13.4 billion Saudi riyals into real estate projects in the Kingdom during the first half of 2006.. ..The Saudi government is already working to push the real estate sector ahead. Earlier it announced it would raise the capital of the Real Estate Development Fund (REDF) by nine billion riyals (Dh8.8 billion), effective the beginning of 2006. The move boosted REDF's capital to 92 billion riyals. The increasing population growth rate, coupled with strong demand for housing units in Saudi Arabia, are forcing companies to find other tools for financing the real estate sector, aside from government.." [more]

Algeria says Saudi Opposition Rules Out OPEC Meet [Jan 21]
"OPEC will not hold an emergency meeting to shore up sagging oil prices with further output cuts because of Saudi opposition to the move, Algeria's Energy and Mines Minister Chakib Khelil told state radio on Sunday. Any attempt by OPEC to cut output further without Saudi participation would lack credibility as the kingdom contributes the largest single portion of output cuts, Khelil added.. ..Khelil said: 'There has been practically a decision not to meet before March 15... We should therefore wait until March 15 for OPEC to be able to review the market situation and take any decisions.' 'A reduction without Saudi Arabia will not have the expected impact as it won't have credibility'.." [more]

GCC to Hold Talks With Nuke Watchdog [Jan 21]
"Gulf states plan to hold talks with the UN nuclear watchdog, the International Atomic Energy Agency, over their plans for a regional nuclear programme, a top Gulf official said in remarks published on Saturday.. ..At a summit in Riyadh last month, Gulf leaders outlined plans for a joint programme for the use of nuclear technology for peaceful purposes. But the Gulf states have denied their desire for nuclear development is a result of Iran's atomic programme.." [more]

Beyond the Veil [Jan 21]
"Three prize-winning movie producers from New York are in the Kingdom in an attempt to understand what it is like to be a woman living in Saudi Arabia and to be a Saudi woman.. ..visiting various places in the Kingdom for the last eight days to do research for an independent feature film.. ..The planned film focuses on the struggle of an American woman to adapt to a lifestyle in an Islamic society. But the theme of the movie is perceptions and misunderstandings among characters, especially between an American feminist and her Saudi neighbor who wears the veil willingly, said Stern.." [more]

SAGIA Inks MoU with Singapore Company [Jan 21]
"In a bid to further create a pro-business environment, the Saudi Arabian General Investment Authority (SAGIA) signed a Memorandum of Understanding (MoU) with Jurong International, with the latter providing consultancy and advisory services toward the successful development and implementation of the Economic Cities and related developments in specific industries identified by SAGIA.. ..This collaboration will kickstart a strategic cooperation between the parties, which is the result of Singapore�s Prime Minister Lee Hsien Loong�s visit to the Kingdom in November last year.. ..Saudi Arabia was Singapore�s 14th largest trading partner in 2005, with total bilateral trade at a staggering S$15.6 billion.." [more]

Saudi-Pak Summit Talks Today [Jan 21]
"Custodian of the Two Holy Mosques King Abdullah will hold talks with Pakistani President Gen. Pervez Musharraf in Riyadh today on major regional and international issues and ways of strengthening bilateral ties.. ..Musharraf is here on the first leg of a five-nation Arab tour, which will also take him to Egypt, Jordan, Syria and the United Arab Emirates. Speaking to reporters in Islamabad before his departure, Musharraf said the main objective of his current Arab tour was to explore possibilities of adopting new initiatives to resolve the Palestine dispute.." [more]

New Policy for Recruitment [Jan 21]
" Labor Minister Ghazi Al-Gosaibi said yesterday that his ministry intends to implement a new policy where companies would have to prove that they are financially viable before recruiting workers from abroad.. .. the minister said that the guarantee of payment of salaries to foreign workers was a top priority for the ministry. On his part, Prince Salman warned yesterday against any superfluous recruitment of foreign guest workers. 'The import of foreign labor should not exceed the necessary requirement,' he told reporters. 'Young Saudi men and women should be given training opportunities to enter the job market'.." [more]

JEF Goes Interactive [Jan 21]
"The Jeddah Economic Forum (JEF) is to incorporate a sophisticated new technology as a key part of its proceedings this year. The instant feedback system will allow the audience to ask questions, feedback opinion and take part in instant polls to gauge opinion on topics brought up in the discussions and presentations. The move was in response to feedback to the organizers from attendees.. ..Two highly visible screens will display questions from the panelists or speakers to which they would like the audience respond during the 60-minute sessions.." [more]

Jan 14-Jan 20, 2007

A Convenient Time for Saudi Arabia to be Ambivalent [Jan 20]
"What is the main driver behind Opec power Saudi Arabia's oil policy? This question is sweeping trading floors and it could be unanswerable. Is it a desire to contain any potential threat from Iran or is it the kingdom's struggle to balance its own economic interests with those of top energy consumer the United States?.. ..Saudi Oil Minister Ali Al Naimi on Tuesday told oil traders not to panic and said there was no need for further action. These comments from the world's top oil exporter helped to push prices more than a dollar lower.." [more]

President Arrives for a Two Day Visit to Saudi Arabia [Jan 20]
"President General Pervez Musharraf arrived here Saturday on the first leg of his five-nation visit to the Arab countries in a bid to make fresh efforts for the resolution of the Palestine issue, that remains at the heart of tension and conflict in the region.. ..The President during his stay will meet King Abdullah bin Abdul Aziz and besides bilateral matters, regional and international issues, discuss the prevailing situation in Middle East including Palestine, Iraq, Lebanon and Afghanistan.." [more]

CMA Plans New Laws to Stabilize Stock Market [Jan 20]
"The Saudi stock market plummeted further last week against the backdrop of a decision by the market�s watchdog, the Capital Market Authority (CMA), to suspend the trading of two firms for incurring heavy losses.. ..The CMA Chairman Abdul Rahman Al-Tuwaijeri made it clear that the authority was determined to apply similar decisions across-the-board against all listed firms the losses of which exceed 75 percent of the capital, according to the law. But he expected such measures 'to reflect positively on the market and enhance investors� confidence'.." [more]

German Delegation to Visit Kingdom [Jan 20]
"A 28-MEMBER business delegation from the state of Lower Saxony, Federal Republic Germany will be on three-day visit to Saudi Arabia starting from Jan. 29. The visit of a German business delegation led by Hirche, Minister of Economic Affairs Employment and Traffic of the Federal State of Lower Saxony would be aimed at promoting already fast growing bilateral trade relations between the Kingdom and the Federal Republic of Germany, said a press statement issued by German-Saudi Arabian Liasion Office for Economic Affairs (GESALO), the organizer in Riyadh.." [more]

Role of IPOs in Rebuilding Gulf Stocks [Jan 20]
"The overexuberance of investors connected with initial public offerings (IPOs) in the Gulf stock markets of 2005 certainly dimmed in the correcting market of 2006, but still the combined value of over $7.5 billion represented a 35 per cent increase over 2005's total of $5.6 billion.. ..Analysts tend to agree that the correction which the market underwent in 2006 augurs well for the future IPO market.." [more]

Saudi Arabia Plans to Boost Output Capacity 40% by 2009 [Jan 19]
"Saudi Arabia plans to increase its crude oil production capacity nearly 40 per cent by 2009 and double its refining size over the next five years to keep pace with growing global demand, the country's oil minister said. Ali Al Naimi said the plans are part of a $80-billion commitment that Saudi Arabia - the world's biggest oil exporter - has made to increase oil supplies in the global market.." [more]

CMA Halts Trading in Another Firm [Jan 19]
"The Saudi Capital Market Authority (CMA) has suspended trading in another loss-making company, Anaam International Holding Group, effective from tomorrow. According to information available on the Tadawul website, Anaam, formerly Mawashi Mukairish, has made losses equaling 95 percent of its capital.. ..Nahed M. Taher, chief executive officer of Gulf One Investment Bank, told Arab News yesterday: �I believe that this decision should have been taken more than a year ago. However, it is never late and the decision of suspending shares of some of the losing companies from the stock market is definitely the right decision.." [more]

Bisha Scandal Rocks Saudi Trading Week [Jan 19]
"The Saudi Tadawul All Share Index (TASI) started the past trading week with a sharp decline of 4.6 per cent in reaction to the suspension of Bisha Agricultural Development Co's trading. Analysts attributed the decision of the Saudi Capital Market Authority (CMA) to the initial financial results announced by the company in November 2006, which showed a profit of 51 million Saudi riyals for the first nine months of 2006.. ..CMA asked the company to republish its financial statements for the same period. The revised results revealed a 22.2 million riyal loss or 96 per cent for the first nine months of 2006. The CMA's decision has affected the market, sending ripples of fear that other distressed companies may face the same situation.." [more]

Saudi Arabia Seeks US$50 BN Foreign Capital Investments [Jan 19]
"Saudi Arabia today invited foreign investment to the tune of 50 billion dollars in sectors like infrastructure, oil and gas.. ..Speaking at a session on 'Investment Opportunities in Saudi Arabia' at ASSOCHAM, Abdul Rahman said the investment structure in these sectors would be mentioned in the proposed tenders for private sector investments of 30.6 billion USD, investment in oil and gas sector at 7.4 billion USD and in government sector at 12 billion USD.." [more]

Islamic States Lag in Science, Says Report [Jan 19]
"Members of the Jeddah-based Organisation of Islamic Conference (OIC) are lagging behind other countries in science and technology, the 75-member body said in a recent report. The report pointed out that only three countries among the OIC members produce high technology products for export.. ..OIC Assistant Secretary General for Science and Technology Dr Ali Akbar Salehi said that most member states are allocating minimum funds for science and technology.." [more]

IOM and the Kingdom of Saudi Arabia Partner on Tsunami Assistance [Jan 19]
"IOM's Director General, Brunson McKinley, begins a two-day visit to Saudi Arabia tomorrow, the first such official visit by an IOM director general to the country.. .. key part of his visit will be the signing of an agreement with Saudi Charity Campaign for the Relief of the Earthquake and Tsunami Victims in East Asia. The agreement will allow for the building of 500 new homes by IOM in Sri Lanka's southern district of Ampara, one of several badly affected by the 2004 tsunami that killed more than 35,000 people in the country.." [more]

Five Foreign Scholars Win King Faisal Prize [Jan 19]
"Scholars from Russia, Canada, the United States of America, Britain, Egypt and Morocco won the prestigious King Faisal International Prize for the year 2007.. ..The prize for Medicine has been awarded jointly to Canadian Professor Fernand Labrie, Head of the Department of Molecular Endocrinology, Central Hospital of Laval University at Quebec and Professor Patrick Craig Walsh, an American, in recognition of their respective contributions to therapeutic and surgical management of prostate cancer.." [more]

Saudi Arabia Casts Wary Eye on its Shiites [Jan 19]
"..With a Sunni-Shiite cold war descending on the region, Saudi Arabia appears to be hardening its sectarian battle lines. That, experts say, could mean that it once again will regard its Shiite minority, mainly clustered in eastern oases like this one, solely as enemies of the state.. ..'You don't see [Saudi King Abdullah] quashing any of this very, very public anti-Shiite rhetoric,' says Mr. Jones. 'That's a sign that he either isn't interested in doing it or that he can't'.." [more]

OECD Concerns Over Saudi Probe [Jan 18]
"There are "serious concerns" about the UK dropping a fraud probe into a Saudi arms deal, says the Organisation for Economic Co-operation and Development. The OECD, which drew up an anti-bribery treaty signed by Britain, has been reviewing the Serious Fraud Office decision announced last month. Prime Minister Tony Blair said the decision to end the probe was taken in the interests of national security.." [more]

Saudi-Indian Joint Commission Starts Meeting [Jan 18]
"The seventh session for the Saudi-Indian Joint Commission was inaugurated here today under the chairmanship of minister of commerce and industry.. ..It is worth mentioning that the volume of trade exchange between the Kingdom and India amounted to sr 47.12 billion in 2005.." [more]

Saudi Arabian Businessmen Want More Multiple-Entry Visas [Jan 18]
"India should offer a more liberal visa regime for Saudi citizens and grant more multiple-entry visas, Saudi Arabia's Ambassador to India Saleh Mohammad Al-Ghamdi said Thursday. 'Our people are facing problems in getting multiple-entry and long-term visa from the Indian embassy in Riyadh. They only get single-entry visa for one month,' he said while addressing a meeting of Indian and Saudi business leaders organised by the Confederation of Indian Industry (CII) here. 'I am sure India would look into this issue and reciprocate, as getting multiple-entry visa from the Saudi embassy here for Indian businessmen is not a problem,' the envoy added.." [more]

Morgan Stanley to Form Saudi Arabia Bank Venture [Jan 18]
"US investment bank Morgan Stanley, rapidly expanding in the Middle East, said it would form a joint venture with Capital Group, a securities firm based in Riyadh, Saudi Arabia. The venture will engage in underwriting, trading and wealth management, as well as an asset management business allowing Morgan clients to invest in the country. The office will start with 25 professionals but likely will double in size over the next year.. ..The deal to create Morgan Stanley Saudi Arabia is expected to be completed before the end of the first quarter. Terms of the transaction were not disclosed.." [more]

Don't Tie Bush's Hands on Iraq: Saudi Envoy to U.S [Jan 18]
"A vote by the U.S. Congress limiting the number of American troops that could be deployed in Iraq would send the wrong signal to the Middle East and make people wonder if President George W. Bush's authority has been weakened, Saudi Arabia's outgoing envoy to Washington said. Prince Turki al-Faisal, the former long-time Saudi intelligence chief who is about to retire after just over one year as envoy to Washington, also warned the United States against military action to set back Iran's nuclear ambitions, saying the consequences would be 'catastrophic'.." [more]

Saudi to Have 3M B/D Spare Oil in February [Jan 18]
"Saudi Arabia's spare crude oil production capacity will rise to 3 million barrels per day (b/d) in February after a second round of Opec output cuts, oil minister Ali bin Ibrahim Al Nuaimi said yesterday. He also told reporters in the Indian capital that long-term investments in the oil sector will not be determined by short-term crude oil price movements. 'Investments in the oil and gas industry is very long-term investment, it is not decided upon by short-term price movements'.. ..The Organisation of the Petroleum Exporting Countries has an estimated 100 exploration and production projects with estimated investments of $100bn to meet rising demand, but justifying spare capacity to calm oil market nerves has been difficult.." [more]

Saudi Arabia Launches 19 Information Centres [Jan 18]
"In a bid to boost its tourism industry, Saudi Arabia has installed 19 tourism information centres throughout the country.. ..'This move comes within the first phase of the tourism information centres project which aims to install 20 centres during 2006 and the beginning of 2007.."  [more]

The Desert Set for Production [Jan 18]
"Twenty-nine-year-old Saudi filmmaker Muhanned Kumkumji announced he would begin working on a new film project titled 'The Desert', saying that the recent Saudi production 'Kaif Al-Hal?' has ushered in period where Saudis will start to take film production more seriously.. ..�The Desert� is a story based on true events that take place in the desert Kingdom. The project will be 100 percent Saudi produced and funded and is expected to be released in early 2008.." [more]

Oil Prices Sink Close to $50 a Barrel [Jan 18]
"World oil prices dived close to $50 per barrel in London and New York yesterday, hitting fresh 19-month lows after the market ruled out the prospect of a new OPEC production cut.. ..Oil prices have now sunk by more than 16 percent since the start of 2007, dampened also by low heating fuel demand been caused by recent milder-than-expected winter weather in the United States and Europe.." [more]

US Defence Chief Seeks Saudi Support on Iran [Jan 18]
"US Defence Secretary Robert Gates touched down in Saudi Arabia yesterday angling for support from the kingdom in confronting Iran�s suspected pursuit of nuclear weapons. Gates, who flew into Riyadh from Kabul, was also expected to discuss Washington�s new strategy for taming sectarian bloodshed and chaos in Iraq when he sees King Abdullah for face-to-face talks.. ..Gates indicated that Washington was counting on Riyadh�s support in addressing hot-button issues in the region, starting with Iran�s nuclear programme. 'I think we can always use Saudi cooperation on these issues in the Gulf region'.." [more]

Saudi Backs US Plan, says Iraq Role Key [Jan 17]
"The US won Saudi backing yesterday for a US plan to stabilise Iraq, but Washington�s Gulf ally said success depended on Baghdad tackling sectarian strife driving the country towards civil war. Saudi Arabia fears that a plan announced by US President George W Bush to stabilise Iraq would lead to an early departure of US troops from Iraq, leaving the violence-ravaged country moving towards full-out civil war that might spill beyond Iraq�s borders.." [more]

Blair Under Fire Over Saudi Probe [Jan 17]
"Tony Blair has been accused of backing down on a pledge that his government would be "whiter than white", by ending a fraud probe into a Saudi arms deal. Lib Dem leader Sir Menzies Campbell asked if others would be dropped in the same way as 'this squalid affair'. But Mr Blair said the Lib Dems could not have it 'both ways'- continuing with the inquiry without dealing a serious blow to UK interests. He called their stance as 'an object lesson in the absence of leadership'.." [more]

Oil Steady Near $51, Saudi Comments Pressure [Jan 17]
"Oil steadied near $51 on Wednesday, after falling to a 20-month low the previous session as top exporter Saudi Arabia said there was no need to worry about the market's 16 percent slide so far this month.. ..'There is no need to worry because the market is in a very healthy condition,' the kingdom's oil minister Ali al-Naimi told reporters on Wednesday.." [more]

Saudi Able to Maintain Riyal Peg to Dollar [Jan 17]
"Saudi Arabia, the world largest oil exporter, has the ability to maintain the riyal currency�s exchange rate against the dollar despite fluctuations in crude prices, Finance Minister Ibrahim al-Assaf said yesterday. Saudi Arabia ruled out any change to its dollar peg on Monday, forcing markets to roll back expectations of a region-wide revaluation after the prospect was raised last week by the United Arab Emirates.. ..'We have the capability to preserve the exchange rate'.." [more]

Tehran Denies Seeking Riyadh Help on US Ties [Jan 17]
"Iran has denied it asked Saudi Arabia to ease tension with Washington over its disputed nuclear programme and Iraq but analysts said yesterday Tehran may be trying to prevent US-allied Arab states lining up against it.. ..Analysts said Larijani�s visit to Riyadh may be part of efforts to prevent Arab states such as Saudi Arabia, which fret about Tehran�s atomic ambitions, from lining up against Iran, a worry expressed by Iran�s leadership.." [more]

Summit Bid to Heal Rifts [Jan 17]
"Saudi Arabia�s ambassador to the Arab League announced yesterday that Riyadh will host the organisation�s next summit on March 28 and 29 in a bid to heal divisions in the region.. ..Riyadh had originally declined to hold the next annual summit following a 2006 meeting in Khartoum, resulting in an announcement the 2007 gathering of Arab heads of state would be held in Egypt�s resort town of Sharm el-Sheikh. Asked about the change in position, Qatan told reporters that King Abdullah of Saudi Arabia 'understands well that the region is passing through a critical and delicate period'.." [more]

Kingdom�s Role Crucial in Solving M-E Crisis [Jan 17]
"Saudi Arabia could serve as a steam engine in the current peace process around the world, according to an American professor of international law and diplomacy.. ..The main objective of Wedgwood�s first visit to the Kingdom is to formulate US foreign policies with the Saudi community. She met several Saudi community leaders and Saudi women she thinks are 'highly proficient and qualified when talking about regional politics' on current issues like Iraq and Lebanon.." [more]

SRMG�s Record Profit Will Attract More Investors [Jan 17]
"The record profit gained by the Saudi Research and Marketing Group (SRMG) in 2006 reflects the success of the restructuring program carried out by its top management during the past years, economic analysts said. SRMG�s financial results for 2006 will also encourage investors to put their money in its stocks, the analysts said after the company announced that it posted a net profit of SR261 million last year, registering a 44 percent increase compared to 2005.." [more]

Saudi Housing for Tsunami Victims [Jan 17]
"The Saudi Charity Campaign (SCC) will sign an agreement with the International Organization for Migration (IOM) on Jan. 20 to establish a model housing city in Sri Lanka at a cost of SR38.74 million to accommodate the country�s tsunami victims. The housing city to be named after Custodian of the Two Holy Mosques King Abdullah will have 500 houses, two schools, a clinic, a mosque, a playground and a shopping complex, according to Saeed Al-Harithy, head of the Saudi charity.. ..Al-Harithy described the housing city as one of the largest relief projects to be implemented by Saudi Arabia in Asia.." [more]

Saudi-Indian Ties Mark Unprecedented Increase [Jan 17]
"Saudi-Indian relations marked an �unprecedented� increase, with bilateral trade reaching around $10 billion at present from $7 billion in 2005, Saudi Ambassador Saleh M. Al-Ghamdi briefed the media.. .. He credited this development to �wise and inspiring leadership� on both sides, an increase in diplomatic visits, the ease in visa restrictions and agreements agreed to during the visit of Custodian of the Two Holy Mosques King Abdullah to India. Al-Ghamdi said there is a parallel increase of Saudi investment in India.." [more]

Saudi is Urged to Ease Tensions [Jan 16]
"Iran has asked Saudi Arabia to help ease tensions between the Islamic Republic and the US in a letter delivered by Tehran's chief nuclear negotiator to the Saudi King, a Saudi official said yesterday. The letter, from Supreme Leader Ayatollah Ali Khamenei and President Mahmoud Ahmadinejad was delivered by Ali Larijani to King Abdullah. A Saudi official said Iran wanted Saudi leaders to relay a goodwill message to Washington.." [more]

Rice Seeks Saudi Backing on Iraq [Jan 16]
"US Secretary of State Condoleezza Rice has arrived in Saudi Arabia as she tries to rally support for Washington's latest plans to try to stabilise Iraq. She was due to hold talks with top Saudi officials in the capital Riyadh.. ..Ms Rice has also met Jordanian, Israeli and Palestinian heads on her tour of the Middle East, and announced plans for a US-Israeli-Palestinian summit.." [more]

Measures Underway to Restructure Judiciary [Jan 16]
"Saudi Arabia is working on modernising its judiciary laws to eliminate bureaucracy in courts and to accelerate settlement of disputes. The step is part of a move, to be approved soon, for restructuring the Saudi judiciary. Media and legal circles in the West have been criticising the Islamic-based legal procedures in Saudi Arabia.." [more]

No Change in Saudi Currency Policy [Jan 16]
"Saudi Arabia ruled out any changes to its dollar-pegged exchange rate yesterday, driving the riyal to a 13-month low as markets rolled back expectations of a currency revaluation by the world's biggest oil exporter.. ..Saudi Arabian Monetary Agency (Sama) dismissed any suggestion of a riyal revaluation this year, becoming the third of the six Gulf central banks to say it planned to stand by a currency regime set up to prepare for monetary union in 2010.." [more]

Saudis Top Master Index Consumer Confidence [Jan 16]
"Saudi Arabia topped the MasterIndex consumer confidence in the region with the highest confidence score of 97.3.. ..Buoyed by strong economic growth and abundant liquidity fuelling both public and private investments in the Middle East, consumer confidence in the region for the six months ahead is generally optimistic, according to the latest MasterIndex survey released yesterday.." [more]

Finland Seeks Joint Venture Projects [Jan 16]
"Finnish Foreign Trade and Development Minister Paula Lehtomaki announced yesterday that his country is preparing to sign a reciprocal investment protection agreement with Saudi Arabia aimed at bolstering trade ties. Saudi Arabia had a 634-million-euro trade deficit with Finland in 2005.. ..RCCI Chairman Abdul Rahman Al-Jeraisy said that he expect a local businessmen to visit Finland in the near future. 'As a result of these discussions, we would like to send a Saudi trade delegation to Finland to identify new areas of interests'.." [more]

Blair Refuses to Answer Calls to Reopen Saudi Arms Probe [Jan 15]
"British Prime Minister Tony Blair has refused to answer a call from 130 campaign groups to reverse his decision to scrap a corruption inquiry into the Al Yamamah arms deal with Saudi Arabia. Lobby groups including Amnesty International, Oxfam, Friends of the Earth and Transparency International have written to Blair and other ministers in an effort to get a Serious Fraud Office inquiry into the deal between BAE Systems.. .. and the Saudi government reopened.." [more]

Spanish Minister Cancels Speech at Saudi University Because of Ban on Women Reporters [Jan 15]
"Spain's justice minister on Monday canceled a speech he was to deliver at a university in the Saudi capital after authorities there refused to allow women journalists accompanying him to attend, news reports said. Minister Juan Fernando Lopez Aguilar was due to give the lecture at Riyadh's Imam Muhammad bin Saud Islamic University, regarded by liberal Saudis as the heart of Saudi conservatism. Women are strictly banned from the men's campus.." [more]

Ministries Launch Websites [Jan 15]
"..The Ministry of Commerce and Industry has announced that companies wishing to apply for commercial registration may do so electronically by downloading the application form. This will greatly reduce the time spent on bureaucratic procedures. A number of Saudi and international companies as well as government organizations are taking part in an e-exhibition being held on the sidelines of the conference which ends Wednesday.." [more]

KM Properties to Invest $1.36bn in Saudi Arabia [Jan 15]
"Dubai-based KM Properties plans to invest Dh5 billion ($1.36 billion) in Saudi Arabia�s property sector. The real estate arm of the Knowledge Management Group (KMG) today announced a major Middle East expansion with new offices in three Saudi cities, Dammam, Riyadh, and Jeddah.. ..An entrance of this scale is expected to create a substantial number of jobs for the Saudi market. The company is also in discussion with various developers in the country and is expected to announce a number of joint ventures soon.." [more]

Do Not Isolate Iran: Saudi King Abdullah [Jan 14]
"Italian Deputy Prime Minister and Foreign Minister Gianfranco Fini said here yesterday at a joint press conference with Foreign Minister Prince Saud Al-Faisal that Italy called on Iran to play a role in solving many problems in the Middle East. 'We hope that Iran will be determined to solve regional problems since it is a large country with a significant influence,' he said. Fini also said that both Italy and the Kingdom agreed on the danger of isolating Iran from the international community. Both, he said, were determined to solve the Iranian nuclear crisis through 'diplomatic efforts'.." [more]

Saudi Souq to Open Soon [Jan 14]
"The Saudi version of online auction site Souq.com will be up and running in the next three months, the firm�s CEO confirmed this week.. ..Mouchawar revealed that 2006 was a big year for the firm in terms of sales for both the UAE and Jordan version of the site. 'In November alone, Souq.com listed over 18,000 new auctions, recorded over five million page views, and traded nearly six million dirhams in gross merchandise volume'.." [more]

Saudi Stocks Tumble on Selling Pressure [Jan 14]
"The Saudi bourse tumbled to its lowest close in 26-1/2-months yesterday on selling spurred by fears that weak 2006 earnings could drag the index below 7,000 points for the first time since late 2004.. ..'Investors are panicking because there is no floor to decreasing investor confidence in Saudi,' said Hani Baothman, chief executive of Aayan Capital. 'If you walk in the streets you hear rumours that the market is going down to 6,800 points, and no one has a good reason.'.. ..The Riyadh bourse erased 52.5% of its value in 2006 after a crisis of confidence gripped regional investors.." [more]

Premier of Lebanon Goes to Saudi Arabia to Get Finance Support [Jan 14]
"Lebanese Prime Minister Fouad Al-Siniora on Saturday went to Saudi Arabia in order to get financial support to the plan of the country�s reconstruction and reforms that will be presented at an international conference on aid to Lebanon to be held in Paris on January 25.. ..The Lebanese prime minister urged Arab leaders to provide support to his country in efforts aimed at the settlement of the political crisis that swept Lebanon and establishment of economic stability.." [more]

E-Government Portal to Become Functional [Jan 14]
"In what is seen as a significant move, the Kingdom�s e-government national portal will become operational at the first national e-transaction conference.. ..Dr. Abdul Rahman Al-Orainy, adviser to the minister of communications and information technology, and Ali S. Al-Soma, the minister�s adviser for IT and director general of the e-government program, said the e-government portal would allow both citizens and expatriates to access government information on the Internet. 'It�s a major initiative for promoting transparency in government functioning and increasing productivity, efficiency and the speedy delivery of services to all people, including visitors'.." [more]

Taoiseach Heads Gulf Trade Mission [Jan 14]
"Taoiseach Bertie Ahern heads to the Mideast tomorrow as part of a trade mission to encourage multi-billion euro export links between Irish companies and business leaders across the gulf. Mr Ahern will lead a trade mission of 170 employers from 114 firms to Saudi Arabia, Abu Dhabi and Dubai. The expedition has been organised by Enterprise Ireland , which plans to increase exports to the region by �3 billion by the end of 2007.." [more]

Regional Stability to Top Rice�s Talks With Saudi Leaders [Jan 14]
"Urging Arab states to step up support for the Iraqi government and exploring prospects for a renewed 
Israeli-Palestinian peace effort are high on the agenda of US Secretary of State Condoleezza Rice�s upcoming visit to the Kingdom. Although specifics are not available, Melissa Ford, press attach� at the US Embassy in Riyadh, confirmed yesterday that Rice would arrive here today or tomorrow. �Rice will be accompanied by top US officials and will hold talks with senior Saudi officials during her stay here,� said Ford. Ford would not provide further details of Rice�s visit.." [more]

Male Guardians Make It Hard for Women to Work [Jan 14]
"Attitudes toward working women in the Kingdom are changing. Nonetheless, some working women find it difficult to balance the demands of their careers and the needs of their husbands and families. This is especially the case with women married to men who are unsympathetic to them working. Speaking to various career women, it does seem that the husbands and male guardians of many do not take seriously the jobs that many women do.." [more]

Khursaniyah Clarification [Jan 14]
"The report headlined �Aramco Defers Khursaniyah Project� that appeared on page 15 of the Arab News on Saturday, Jan. 13, 2007 edition, incorrectly reports that �Saudi Aramco postponed the commissioning of the 500,000 bpd Khursaniyah oil and gas project to the fourth quarter of the year, a few months later than the previously announced date.. ..The Khursaniyah Project has always been scheduled for completion in the fourth quarter of the year. Saudi Aramco Vice President for Project Management Ali A. Al-Ajmi said, �There has been no change in the Khursaniyah schedule and the program is progress