News - May 2007

~~~~~~~~ [ Jun 2 ] ~~~~~~~~~

Dollar Peg Barely Affects Inflation, Says Saudi Arabia [Jun 2]
"Saudi Arabia's currency peg to the weak dollar has had little impact on inflation in the world's top oil exporter, the central bank chief said, moving to end market speculation about a shift in exchange rate policy. Saudi inflation could be driven by factors such as state spending and property prices, Hamad Saud Al Sayyari said.. ..Kuwait cited imported inflation as the reason for its May 20 decision to drop the peg to the dollar, which hit a record low against the euro in April, and switch to a basket of currencies. That allowed the Kuwaiti dinar to rise 0.37 per cent against the dollar, throwing into disarray plans for monetary union in 2010 with Saudi Arabia and four other Gulf Arab oil producers.." [more]

Opec Oil Output Edges Up in May [Jun 2]
"Opec boosted crude oil output in May as higher supply from members including Algeria and the United Arab Emirates countered a drop in Nigeria, a Reuters survey showed yesterday. Ten Opec members bound by output targets, all except Iraq and Angola, pumped 26.76mn bpd, up 110,000 bpd from April, according to the survey of oil companies, traders, Opec officials and analysts. The survey suggests Opec�s adherence to agreed supply curbs eased in May as global oil prices rallied.." [more]

Dutch Trade Mission in Kingdom [Jun 2]
" A high-level Dutch mission arrived in Saudi Arabia on Thursday for a five-day business visit aimed at establishing long-term relationships between the Dutch and Saudi companies in the infrastructure sector.. ..Dutch companies in the mission include suppliers of the railway solutions, UPS systems, cabling products, security systems, HVAC systems, and services. These companies are noted as innovative, flexible, specialized companies that deliver state-of--the-art equipment, parts, components and services.."  [more]

Kingdom Second in Remittances [Jun 2]
"Saudi Arabia will maintain its position as the second most prolific source of expatriate remittances in the world after the US in 2007, economists said last week. The Arabic press reported that economists expect remittance figures to rise by SR0.5 billion from last year, reaching SR54.375 billion. Economists attributed the rise in remittances by expatriate workers to the increase in government- and private-sector projects, the launching of several economic cities and the flexibility of the Ministry of Labor in allowing an increase in the number of worker visas. Remittances from the Kingdom to other countries rose by SR750 million in 2006 compared to the year before, with the total figure reaching SR52.5 billion in 2006.." [more]

UNDP Pledges New Programs in Kingdom [Jun 2]
"A three-member team from the United Nations Development Program (UNDP) wrapped up a weeklong visit to Riyadh, saying that the international agency will initiate new programs in the Kingdom under its five-year plan.. ..Regarding the purpose of the mission, Zaidan said: 'We were here to review the activities of the UNDP in the Net Contributing Countries (NCCs), which include Bahrain, Libya, Kuwait, the United Arab Emirates and Saudi Arabia.' The Kingdom was the final leg of the UNDP team�s regional tour. 'This was part of a broader study to assess how well UNDP programs are being carried out and to see how they can be further strengthened to yield better results,'.." [more]

~~~~~~~~ [ Jun 1 ] ~~~~~~~~~

Women Rights Key for Democracy to Flourish [Jun 1]
"Democracy won't flourish in the Middle East until its women gain greater rights and expanded roles, US Secretary of State Condoleezza Rice said yesterday at a conference on women's peace efforts in the region. 'It's absolutely the case that unless women are fully participants of their societies... these societies cannot really be fully democratic, and that is something we're absolutely devoted to,'.. ..Rice and her Austrian counterpart Ursula Plassnik also called for more women to be given high-ranking positions within the United Nations. 'The fact that there is currently no woman among 54 United Nations envoys to conflict and post-conflict regions is unacceptable,'.." [more]

SAGIA Unveils Vision for Saudi Arabia to Be in Top 10 [Jun 1]
"SAGIA and the Tadawul-listed company Emaar Economic City (EEC) hosted over 40 international and local media representatives on a visit to the project site here organized by General Electric Co. (GE) as part of its "Build the Middle East" tour. 'Our vision is to attract international investors to achieve rapid and sustainable economic growth in Saudi Arabia, capitalizing on the Kingdom's main strengths as the global capital of energy and as major hub between East and West'.. ..'Our mission is to position Saudi Arabia among the top 10 most competitive nations by 2010 through the creation of pro-business environment, knowledge-based society and by developing economic cities,' Al-Dabbagh said. The King Abdullah Economic City is an embodiment of Saudi Arabia's drive for economic diversification and expansion.." [more]

Rights Body to Publish 5 New Reports [Jun 1]
"The National Society for Human Rights (NSHR) is planning to release five new reports in a month, said NSHR chief Bandar Al-Hajjar. The reports, which follow a detailed report that was released last week, will tackle specific issues concerning human rights in the Kingdom. Reports detailing the municipal elections in 2005, Saudi Guantanamo detainees, complaints and cases handled by the NSHR, the accomplishments of NSHR members, and a report on general NSHR statistics will be published.." [more]

Saudi Arabia Attracts Bulk of Bilateral Investments [Jun 1]
"A recent economic survey prepared by the Council of Arab Economic Unity (CAEU) said that Saudi Arabia topped the list of countries that attracted bilateral investments worth $28.8 billion in 2005, accounting for 75.8 percent of the total investment licenses issued for mutual Arab investments for that year. The report to be submitted in the 85th session of the ministerial level meeting of the CAEU on June 7, said the total bilateral Arab investments reached $38 billion in 2005 against $5.9 billion in 2004. This sharp increase is attributed to investment boom in Saudi Arabia.." [more]

Gulf Currency More Difficult After Kuwait Move: Saudi [Jun 1]
"The plan by six Gulf Arab countries to create a unified currency became 'more difficult' after Kuwait dropped its peg to the dollar, the deputy governor of Saudi Arabia�s central bank said. �It will make it a bit more difficult,� Mohamed al-Jasser said in an interview in Brussels yesterday. The governors will �consider all the alternatives,� if the technical work cannot be completed in time.. ..Moody�s Investors Service said in a note yesterday that the plan by Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain to create a single currency is unlikely to happen.." [more]

Jeddah Festival to Attract Three Million Tourists [Jun 1]
"Makkah Gov. Prince Khaled Al-Faisal will open the Jeddah Summer Festival on July 12. Organized by the Jeddah Chamber of Commerce and Industry (JCCI), the festival is expected to attract three million tourists and holidaymakers from within Saudi Arabia and neighboring Arab and Gulf countries.. ..Over the past several years Jeddah Summer Festival has been receiving a large crowd of tourists and holidaymakers. Jeddah has many tourist attractions, including its 100-km long developed coastline, museums, historical sites, recreational centers for families and children and large shopping centers in addition to five-star hotels with comfortable facilities and large conference halls.." [more]

May 27-Jun 2, 2007

~~~~~~~~ [ May 31 ] ~~~~~~~~~

Saudi Arabian Guantanamo Detainee Dies in Apparent Suicide [May 31]
"A Saudi Arabian detainee died Wednesday at Guantanamo Bay prison and the U.S. military said he apparently committed suicide. Critics of the detention center said the death showed the level of desperation among prisoners.. ..It would be the fourth suicide at Guantanamo since the prison camp opened in January 2002. On June 10, 2006, two Saudi detainees and one Yemeni hanged themselves with sheets. A spokesman for detention operations, Navy Cmdr. Rick Haupt, declined to comment, referring questions to the Miami-based Southern Command, which oversees U.S. military operations in the Caribbean and Latin America.." [more]

Focus on Palestine Talks, Israel Told [May 31]
"Secretary of State Condoleezza Rice has cautioned against a growing sentiment in Israel to pursue peace with Syria instead of with warring Palestinian factions, saying there is "no substitute" for creating a Palestinian state. Rice, who was to discuss the stalled peace process with diplomats here yesterday, has worked for months to lay the groundwork for Palestinians and Israelis to begin discussing what she calls a "political horizon" - the parameters of a possible Palestinian state.." [more]

Samba Helps Shore Up Saudi Bourse [May 31]
"Samba Financial Group surged yesterday helping the Saudi bourse, the Arab world�s largest, close up after declining for three consecutive sessions.. ..The Saudi index rose 0.99% up to 7,492.66 points. Samba soared 6.4% and market heavyweight Saudi Basic Industries Corp (Sabic) rose 1.64%. 'The Saudi market still looks positive as it has not broke the level of 7,200 points,' said Marwan Shurrab, a senior trader at Shuaa Capital.." [more]

Launch of New Saudi Trade System Postponed [May 31]
"The Saudi bourse regulator has postponed for five months the launch of a new trading system designed to enhance market transparency and efficiency, business newspaper Al Eqtisadiah reported yesterday. Remarks by Capital Market Authority (CMA) chief last month that the system would be launched in May have contributed to a decline in the bourse, which has been criticised by foreign investors as being poorly regulated, analysts said.. ..In 2006, the bourse awarded a 160 million Saudi riyal ($42.7 million) contract to Nordic bourse operator and technology group OMX to develop the trading system.." [more]

OIC Members Give $2.6bn to Poverty Fund [May 31]
"Total contributions of OIC member countries to the $10 billion Poverty Alleviation Fund reached $2.6 billion until Tuesday, Senegalese President Abdoulaye Wade announced during the opening session of the 32nd annual conference of IDB board of governors in Dakar.. ..Saudi Arabia has given $1 billion while Kuwait gave $300 million to the fund. �The fund will operate like an endowment,� IDB President Dr. Ahmed Mohammed Ali told the conference, adding that returns from the endowment property would be used to finance various projects aimed at alleviating poverty.." [more]

~~~~~~~~ [ May 30 ] ~~~~~~~~~

Al-Qaida Escapee Condemns U.S.-Saudi Alliance [May 30]
"An al-Qaida militant who escaped from a U.S. prison in Afghanistan turned up in an online video posted Wednesday, assailing the Saudi royal family for its alliance with the United States. The 45-minute video of Abu Yahia al-Libi, who broke out of the Bagram Air Base prison north of Kabul in 2005, was monitored by the IntelCenter, a U.S. government contractor that watches for al-Qaida messaging.. ..The authenticity of the video, which showed a black turbaned, bearded al-Libi, in a camouflage uniform, and also a map of the Saudi Arabian peninsula, could not be verified. It appeared on a Web site commonly used by Islamic militants and carried the logo of al-Qaida�s media production wing, as-Sahab. The video � the sixth this year by al-Libi � had an Arabic and English transcript.." [more]

KMPK Properties Announces the First Saudi Businesswoman Award [May 30]
"KMPK Properties, the recently formed joint venture Saudi company between businessman Prince Khalid Bin Alwaleed Bin Talal Al Saud and Dubai-based KM Properties, has announced its sponsorship to the first Saudi Businesswoman Award.. ..said Prince Khalid. 'This award is established to give women an insight about the foundation of any business model, regardless of the size or specialisation of the business. We also hope that such an award will encourage businesswomen to do their best to inspire the younger generation in achieving their full potential in Saudi Arabia'.." [more]

Saudi Authorities Crack Down on Forgery Networks [May 30]
"In recent weeks, there has been a vigorous publicized crackdown on document forgery and identification counterfeiting in Saudi Arabia. Such criminal offenses in the kingdom have largely been committed by people working illegally or avoiding deportation. On a number of occasions, however, al-Qaeda militants have been discovered with false IDs such as passports, which they have used to avoid detection and capture. While the Saudi media reports on periodic arrests of forgers, the last several weeks have seen an increased number of apparently connected investigations, operations and arrests led by the Passport Department. This suggests that the Passport Department has launched coordinated efforts involving the regional passport departments located throughout the kingdom. Moreover, this reporting seems to coincide with the increased anti-terrorism programming that has been broadcast throughout Saudi Arabia since the announcement in late April of a series of security arrests.." [more]

Oil Boom Creates Challenges for Region [May 30]
"Managing the windfall oil revenues of the last years is a continuing challenge for oil exporters, a World Bank report says. 'The risk of overheating domestic demand and its potential inflationary consequences loom as an overarching threat'.. ..'It appears, however, that in contrast with earlier episodes of oil booms, judicious use of oil stabilisation funds and other financial management approaches have served to counter overheating and to augment the non-oil supply potential of the economy. Continued pursuit of these approaches should remain a priority'.." [more]

Cooperation From Govt Bodies Lacking: NSHR [May 30]
"In a move to encourage government bodies to cooperate with human rights organizations in Saudi Arabia, the National Society for Human Rights (NSHR) announced yesterday that it would release another report. This report will specify the degree of cooperation each government body has shown to the society since its establishment. Commenting on the cooperation of government bodies with the NSHR for its first report on the state of human rights in the country, released last week, Hussein Al-Shareef of the NSHR said it was unsatisfactory. 'In general, the replies received by NSHR to its 
questions were not up to expectations'.. ..Al-Shareef said the NSHR had written several letters to the Shoura Council as well as to government officials concerning the importance of rectifying current laws in the country in order to correct violations cited in the report. He added that both national and international treaties that the Kingdom had signed were violated.." [more]

Symposium to Focus on Kingdom�s Financial Services [May 30]
"Crown Prince Sultan will open the 16th Annual Symposium entitled �Financial Services in Saudi Arabia.� The symposium, organized by the Saudi Economy Association (SEA), will take place in Riyadh next Saturday, a senior SEA official announced yesterday. Senior government officials in the economic sector including Minister of Commerce and Industry Hashim Yamani, Minister of Economy and Planning Khaled Al-Gosaibi, Governor of Saudi Arabian Monetary Agency Hamad Al-Sayari and others will participate.. ..The prince said the symposium was open to everyone. He urged businessmen and entrepreneurs as well as all citizens concerned about the financial sector in the Kingdom to attend.." [more]

~~~~~~~~ [ May 29 ] ~~~~~~~~~

Kingdom to Develop Information Technology [May 29]
"The Council of Ministers yesterday approved a national plan for the development of its telecom and information technology sector with the objective of transforming the Kingdom into a knowledge-based society and a digital economy. The Cabinet meeting, chaired by Crown Prince Sultan, also announced plans to establish powerful telecom and IT industries to 'make them one of the major sources of income'.. ..The national plan for telecom and IT has long-term and short-term objectives, the minister said after the Cabinet meeting which was held at Al-Yamamah Palace in Riyadh. The Kingdom has already begun implementing some plans and programs for the development of the sector.." [more]

Saudi Group Agrees to Provide Oil for Planned Malacca Pipeline [May 29]
"Malaysian, Indonesian and Saudi Arabian firms on Monday signed agreements for construction of a pipeline that aims to divert 20 percent of oil flowing through the strategic Malacca Strait, the project owner said. Malaysia's Trans-Peninsula Petroleum said it signed an agreement with Malaysia's Ranhill Engineers and Constructors and Indonesia's PT Tripatra to build the pipeline at an estimated cost of $7 billion dollars over seven years.. ..Half of the world's oil shipments currently pass through the 960-kilometer Strait of Malacca, one of the busiest seaways in the world, which links the Indian Ocean and the South China Sea.." [more]

Marginalised Saudi City Looks to UN for Help [May 29]
"Saudi Arabia is hoping that the United Nations will step in to help save the historic old city of Jeddah, whose Unique Red Sea architecture is in danger of disappearing. The ancient city in Saudi Arabia is in line to be included this year on the UN�s World Heritage List, which so far includes 830 sites including eight in Yemen and Oman, says Sami Nawwar, who is leading the effort to preserve Jeddah�s past. Head of tourism and culture at Jeddah municipality, Nawwar hopes to succeed finally in internationalizing a battle begun over 20 years ago to instill respect for history and culture in a rapidly modernizing society with little interest in such things.." [more]

Saudi Swiss Securities Launches Full Service Equities Brokerage in KSA [May 29]
"Saudi Swiss Securities, a Saudi Arabian financial services company, was launched at a press conference held in the capital and has commenced trading as a full-service equity brokerage.. ..Saudi Swiss Securities was licensed by the Capital Markets Authority (CMA) of Saudi Arabia in late 2005, to provide brokerage services. The company successfully obtained its commercial registration and began its initial operations early in the second quarter of 2007. Saudi Swiss Securities, in partnership with a global bank and local partners, combines international banking expertise with strong local insight and a deep understanding of the Saudi market.." [more]

Diabetes at Epic Proportions in Saudi [May 29]
"Saudi Arabia�s health minister claims that diabetes has reached �epic proportions� in the kingdom, with a prevalence rate of around double the official estimate. 'Diabetes is likely to become an epidemic in the kingdom as it has affected nearly 30% of its population, Dr. Hamad Al-Manie said in a report issued by an international diabetes conference. Figures from the International Diabetes Federation's (IDF) Diabetes Atlas quote a prevalence rate of just 16.7% in Saudi Arabia.." [more]

Pope�s About-Face Over Muslim Office [May 29]
"In an unexpected about-face, Pope Benedict will restore power and prestige to the Vatican department that oversees dialogue with Islam a year after he controversially downgraded it. The move to restore the department to its former higher status comes as Catholic-Muslim dialogue is still feeling the negative effects of Benedict's speech last September in which he appeared to equate Islam with violence. Cardinal Tarcisio Bertne said in an interview at the weekend with La Stampa newspaper that the Pontifical Council for Inter-religious Dialogue would again become 'a separate department'. In March, 2006, Benedict beheaded the office by putting it under joint presidency with the Vatican's culture ministry and removing its president, Archbishop Michael Fitzgerald, a Briton. Both Catholics and Muslims in inter-faith dialogue criticized the move, with many saying it sent a negative signal to the Muslim World.." [more]

Visa Problem Affects Taiwan-Saudi Trade [May 29]
"Although Taiwan enjoys friendly relations with Saudi Arabia, the expansion of trade and investment between the two countries is hampered by visa-related problems, said an official of the Taiwan External Trade Development Council (TAITRA). 'Securing visas to the Kingdom is difficult,' said Steve Yang, a senior specialist at the Service Industry Promotion Center of TAITRA.. ..The visa issue has often discouraged Taiwanese businessmen from visiting the Kingdom to promote trade or enter into partnership with local companies.." [more]

~~~~~~~~ [ May 28 ] ~~~~~~~~~

Iran Offers to Help GCC on Nuclear Energy [May 28]
"Iran can help its Gulf neighbours develop peaceful nuclear energy, the country's foreign minister said on Monday, in comments which might irritate major powers fearing Tehran's own atomic work is aimed at building bombs.. ..Saudi Arabia and other Gulf countries share Western suspicions that Iran's nuclear energy plans may lead to it acquiring atomic weapons, a charge Tehran denies. Their programme has raised concerns in the West about a regional arms race with Iran, which faces a possible third round of UN sanctions for refusing to suspend uranium enrichment.." [more]

We Don�t Need Foreign Groups to Come and Teach Us Human Rights [May 28]
"..In its first report on human rights in Saudi Arabia, the NSHR said some people remain in prison even after they have completed their term. It said in some cases inmates were beaten or tortured for confessions and sometimes they missed appeal court hearings because prison authorities forgot to remind them. Al-Harithy criticized visits by foreign human rights groups to the Kingdom, which recently included prison visits by Human Rights Watch. 'We do not need foreign organizations to come here and teach our sons and daughters human rights. We are obliged to protect human rights by ourselves without anyone coming from outside and implying that we have to care about human rights in �the land of humanity�,'.." [more]

EU Accused of Not Doing Enough for Peace in ME [May 28]
"Gulf speakers at the Euro-Gulf Forum here yesterday accused the European Union of not doing enough for peace in Palestine and Lebanon. They also said that Europeans were shying away from describing Israeli tactics as an �occupation,� adding that Europe was not doing enough to pressure Israel to withdraw from Palestinian territories which would pave the way for the establishment of an independent Palestinian state.. ..He gave the examples of the Israeli withdrawal from Lebanon in 2000, the Israeli withdrawal from Gaza in 2005, and the cease-fire by Hamas in 2005. He said that one-sided initiatives would not produce results in the peace process. He also said that the weakening of Arab governments in the region fueled instability and that governments had failed to offer basic security, prosperity, and development to their people.." [more]

Fair Probe Promised [May 28]
"The president of the Commission for the Promotion of Virtue and Prevention of Vice, Sheikh Ibrahim Al-Ghaith, said yesterday that several suspects from the Riyadh commission were being questioned by authorities regarding the alleged beating to death of a Saudi citizen.. ..Al-Ghaith said that if proven guilty, members of the commission would be punished for their crimes, but if they were found innocent, they would be rewarded. Speaking to reporters following a ceremony to honor its retired officers, Al-Ghaith denied that entry to the house to apprehend a man sought for possessing alcohol was done in an unlawful manner.." [more]

Saudis Under 21 Need Permission to Visit UAE [May 28]
"Saudi males and females under 21 years of age who want to travel to the UAE should get permission from their legal guardians and present the new identity cards, Saudi officials announced yesterday. Travellers do not need their passports to travel following the recent agreement reached between Saudi Arabia and the UAE allowing their citizens to travel using the national identity card.. ..Most Saudi families prefer to spend the summer in Dubai and enjoy the various recreational events held there.." [more]

~~~~~~~~ [ May 27 ] ~~~~~~~~~

One-Third of Government Jobs for Women [May 27]
"Crown Prince Sultan yesterday announced plans to allocate one third of government jobs to Saudi women and to create additional job opportunities for them. 'The government depends on women for one third of its jobs,' the prince said. Prince Sultan underscored the government�s efforts to provide advanced education to Saudi women. 'Saudi leaders have given women the right to education and employment within the Kingdom�s basic principles,' he explained. The government has established hundreds of schools and colleges for girls in different parts of the Kingdom. Last year a women�s 
university was established in Riyadh. Women graduates currently outnumber their male counterparts, constituting 56.5 percent of the total.." [more]

Saudi Fund Grants $115 Million for Development Projects [May 27]
"..the Saudi Fund for Development earmarked some $115 million for development projects in Yemen, as a grant. It did this during a session of the committee of the Saudi-Yemeni Coordination that was held last week in Riyadh, said Abdullkarim al-Arhabi, the Deputy Prime Minister for Economic Affairs and Minister of Planning and Cooperation, Chairman of the Yemeni contingent of the committee organized to follow up on the decisions of the Saudi-Yemeni Coordination council. The two countries agreed to allocate $75 million to finance the Public Works Project; $20 million for the establishment of basic education schools; and also $20 million to complete funding for the Central Hospital of Hodeida.." [more]

Saudi Arabia's Inflation Rate Declines to 2.2% in Q1 [May 27]
"A report issued by the Saudi Arabian Monetary Agency (SAMA) showed that the country's annual inflation rate fell to 2.2 percent in the first quarter of this year, its first decline in several months, Gulf Daily News reported. The report showed that the Saudi annual inflation stood at 3 percent in February compared to 2.98 percent in January due mainly to rises in prices of food and beverages. Inflation had been on the rise for more than a year in Saudi Arabia.." [more]

Three Moral Policemen Held in Saudi Man's Death [May 27]
"The Riyadh police have arrested three members of the Commission for the Promotion of Virtue and the Prevention of Vice, also known as the muttawa (moral police), for beating to death a married Saudi youth. Police sources said the three men stormed the house of the victim located in the capital's western suburb of Al Oraija last week on suspicion of alcohol trafficking. The three men clashed with the young man who received several injuries, was rushed to hospital but died later of bleeding from the eye.." [more]

May 20-May 26, 2007

~~~~~~~~ [ May 26 ] ~~~~~~~~~

Saudi Religious Police Probed for Alleged Fatal Beating [May 26]
"Police in the Saudi capital Riyadh are probing the alleged beating to death of a man by religious police, who are in charge of enforcing a strict Islamic moral code, a newspaper reported Saturday. An investigation is under way into the circumstances of the death of Salman Al Huraisi, 28, in one of the offices of the Commission for the Promotion of Virtue and Prevention of Vice, Riyadh police spokesman Major Sami Al Shuwairekh told Al Watan.. ..The deputy director of the religious police's branch in Riyadh, Sheikh Othman Al Othman, told Al Watan: "A death has occurred and an inquiry is under way to determine the circumstances" of the incident.." [more]

Saudi Arabia: Symposium Focuses on Maritime Counter-Terrorism [May 26]
"Security experts have stressed the importance of protecting seas against terrorism during the second symposium on maritime disasters that began earlier this week in Jeddah, Saudi Arabia.. ..Prince Mohammed Bin Naif stated that the current situation regarding terrorism requires mobilizing efforts on local and international levels. 'You are all aware that all means of transportation are exposed to danger at sea where many lives are lost. We must do what it takes to acquire knowledge to face such disasters'.. ..He added that despite that the sea is a difficult place to execute terrorist plans, vigilance is required. 'All existing national and international companies take their own precautionary measures to control terrorist activity,' he said. Anqawi further highlighted the importance of combating terrorism in fear of the damage it could cause to economic interests of the oil industry and air transportation.." [more]

Saudi Islamic Bank Eyes $10bn Poverty Fund [May 26]
"The Saudi Arabia-based Islamic Development Bank, or IDB, will next week launch a $1.4bn Poverty Reduction Fund targeting 20 Muslim nations, according to the bank�s president. Ahmad Mohamed Ali told Zawya Dow Jones that the IDB�s board of governors will gather in Senegal�s capital Dakar on Tuesday to review the fund�s policy, before announcing its official establishment.. ..According to Mohamed Ali, the fund has attracted participation from over 20 states including $1bn from Saudi Arabia, $300mn from Kuwait and $100mn from Iran, with further donations to be announced in Dakar.The fund is targeting donations totalling $10bn.." [more]

Gulf States Urged to Mount Campaigns Against Media Piracy [May 26]
"Gulf governments have been urged to step up efforts to fight pirated media and stolen pay-TV channels in the region. �We have problems in the Gulf, even in Saudi Arabia, with compounds having cable systems that do not pay us for our content,� said Greg Sweeting, Showtime�s vice president for legal and business affairs. Sweeting urged the authorities to work aggressively to safeguard intellectual property rights and combat piracy.. ..Saudi Arabia and Kuwait have been placed by the US government on low level of monitoring lists, indicating the concerns about copyright violations, according to a report published in USA Today.." [more]

More Gains From Lower Profits [May 26]
"Saudi banks' profit growth is expected to be moderate in 2007, but more importantly be at sustainable levels, with lower stock market-related earnings and a slowdown in consumer loans. Overall, the outlook for the Saudi banking sector remains stable, with banks continuing to benefit from the positive impact of high oil prices on the economy. Soaring oil revenues have boosted the economy, leading to increased demand for loans and other banking services.. ..As a result, the Saudi banks were yet again some of the best performers in the GCC in terms of return on assets and return on equity.." [more]

~~~~~~~~ [ May 25 ] ~~~~~~~~~

US Steps Up Crude Oil Sourcing Drive [May 25]
"When President Bush repeated the mantra in his State of the Union address in January, for the second year running, that the US needs to lessen its reliance on the Middle Eastern oil, not everyone took him seriously then. Many argued it may not be practically possible. But the Bush Administration appears serious in some ways at least.. ..There seems a strategic direction in the thinking process in Washington on the issue. Obsessed with the idea of diversifying its crude supply base, as much as practically possible in the given circumstances, the US administration is definitely making headway. According to the US Energy Information Administration (EIA), Nigeria overtook Saudi Arabia in March 2006, as far as crude exports to US were concerned.." [more]

Looming Deadline for Indonesians Illegally in Saudi Arabia [May 25]
"Authorities in Saudi Arabia say they will jail and deport thousands of illegal Indonesians migrants, if they fail to leave the country by the end of the month. More than a million Indonesians live in Saudi Arabia, mostly as domestic workers. A grace period, granting illegal Indonesian migrants the chance to leave Saudi Arabia voluntarily, will expire on May 31. Our reporter in Jakarta, Katie Hamann, says, after that, as many as 40,000 Indonesian citizens face a six month jail term and deportation.." [more]

Italian Scholarships for Saudis [May 25]
"The Italian Government has decided to grant 10 2-month scholarships to young Saudi students who want to learn Italian by attending a course in Italy. The scholarship must be used for attending an Italian course in the period October 2007-September 2008, according to Nicola Orlando, from the Embassy of Italy in Riyadh. For Saudi tourists and businessmen, Italy is one of the most appreciated destinations. Last year more than 22,000 Schengen entry visas were issued by the Italian consular offices in Riyadh and Jeddah, making Italy the most important entry visa issuer in the Kingdom among the member countries to the Schengen agreement.." [more]

Citizens Want Recommendations of Rights Body Carried Out [May 25]
"Many Saudis, including human rights activists and lawyers, welcomed the report that was recently released by the National Society for Human Rights (NSHR) detailing human rights violations in the Kingdom.. ..The NSHR report tackled human rights issues in the Kingdom, which included violations of the rights of women, prisoners and workers as well as injustices in law courts, discrimination against non-Saudis and forced confessions from those detained by the Commission for the Promotion of Virtue and the Prevention of Vice. The report further noted that domestic violence had reached an alarming level and called for an end to the requirement of male guardians for women and the need for male approval in all matters involving women.." [more]

At $71 a Barrel, Oil May Touch $80 This Summer [May 25]
"Global oil prices could easily rally to record levels above $80 a barrel this summer, analysts have forecast, due to Middle East tensions, red hot Chinese growth and a reluctant Organisation of Petroleum Exporting Countries (Opec). But record high prices will not have the same impact on oil demand as in the past few years since consumers have grown accustomed to it.. ..Analysts said little has changed since last summer when oil prices surged to a record $78.65 for Brent and $78.40 for US crude. Worries over Iran�s nuclear program, militant attacks in Nigeria and China�s breathtaking economic growth remain key drivers for the market. One significant change since last summer has been Opec�s decision to curb supplies by 1.7 million barrels per day.." [more]

~~~~~~~~ [ May 24 ] ~~~~~~~~~

Terrorists Go On Air in Saudi Arabia [May 24]
"Seven terrorists have admitted to being involved in planning terrorist attacks in the Kingdom. The seven, four Saudis, an Egyptian and two from Chad said that they have been also planning to storm a central prison in Jeddah to free terrorists. The Saudi official state television broadcasted their confessions on Tuesday evening.. ..They described how the leader of the so-called "the legal cell" had convinced them to declare that the Saudi government is a 'non-believer.' They also spoke about their plans to storm Al Ruwais central jail in Jeddah.." [more]

Oil Climbs to 9-Month High Above $71 [May 24]
"Oil climbed above $71 to a nine-month high on Thursday after a report by the United Nations' nuclear agency opened the way to tougher sanctions against the world's fourth biggest crude exporter.. ..Prices steamed higher after US warships put on a show of force off Iran's coast on Wednesday, coinciding with a report by UN monitors that Tehran had expanded its nuclear programme. 'Iran has come back to the forefront and it's definitely having an impact,' said an oil broker in Tokyo.." [more]

Saudi Telecom Considers International Expansion [May 24]
"The Chief Executive Officer at Saudi Telecom Co. (STC), the largest Arab telecom firm by market value, said that the company plans to boost its revenues from overseas operations to 10 percent of the company's total revenues, Arab News reported. According to familiar sources, the company aims to secure loans worth between $10 billion and $15 billion to finance proposed acquisitions internationally. STC is one of the few remaining Gulf companies that have not yet involved in any mergers or acquisitions, even after it lost it monopoly in the Saudi market to Etihad Etisalat (Mobily) in 2005.." [more]

Foster Wheeler in Saudi-Total Deal [May 24]
"Foster Wheeler Ltd., an engineering and construction services company, said Thursday it won a contract from Saudi Arabia's state-owned oil company Aramco Services Co. and French oil company Total SA. Financial terms were not disclosed.Bermuda-based Foster Wheeler will provide a process design package for a new delayed coker to process heavier crude oil into transport fuels. The technology _ which will be developed in Houston _ will be used at the Jubail Export Refinery, a 
full-conversion refinery, to process Arabian heavy crude.." [more]

Employment Key to Mitigating Crime [May 24]
" Deputy Labor Minister for Planning and Development Abdul Wahid Al-Humaid emphasized the need for finding jobs for the more than 500,000 unemployed Saudis in order to reduce crime. 'The crime rate among the unemployed has increased by 320 percent from 1990 to 1996 ... If the private and public sectors do not take quick steps to tackle the unemployment problem the society will be in danger,' he said. Al-Humaid made this comment while addressing a preparatory meeting of the 7th National Dialogue in Dhahran.." [more]

Arab States to Face Acute Water Shortage [May 24]
"Arab states would face a water deficit of 100 to 133 billion cubic meters per year by 2030 and it is going to be the biggest economic, social and environmental challenge facing the Arab nations, warned Dr. Saeed Al-Kindi, UAE minister of environment and water, while addressing the opening session of a workshop titled �Integrated Water Resources Management�.. ..The workshop, which was organized by Environment Center for Arab Towns (ECAT), Dubai Municipality and the United Nations Environment Program-Regional Office for West Asia (UNEP-ROWA).." [more]

Oman Abandons Gulf�s Single Currency Plan [May 24]
"Oman�s central bank Gov. Homud Al-Zidjali said yestersday that the sultanate had decided not to take part in a planned single currency for Arab states in the Gulf.. ..Saudi Arabia said yesterday that time was running out for the planned launch of a single Gulf currency in 2010, after Oman said it would not join and Kuwait de-pegged its currency from the dollar. �It is true that the time now is short and we need exceptional efforts to achieve� monetary union and single currency by 2010, the head of the Saudi Arabian Monetary Agency, Hamad Al-Sayari, told a banking conference in Kuwait. Leaders of the GCC states decided at a summit in 2001 to launch a monetary union and single currency by 2010.." [more]

~~~~~~~~ [ May 23 ] ~~~~~~~~~

Saudi Television Airs Confessions of al Khalidiyah Terror Cell [May 23]
"New information has emerged regarding the terrorist plot to storm Ruwais Prison in Jeddah, western Saudi Arabia, through the confessions of members of the al Khalidiyah cell. On December 7, 2006, a number of armed men attempted to break in to the prison; however, prison guards were able to crush the operation. On Tuesday, Saudi television aired the confessions of the men who took part in the operation to enter Ruwais Prison. The individuals confirmed that the operation was one of the goals of the al Khalidiyah cell. Members of the cell had been arrested 15 June, 2003.." [more]

Qataris Refuse to Release Saudi Fishing Boats [May 23]
"Qatari authorities have refused to release the Saudi fishing vessels detained more than 50 days ago without giving any explanation for the renewed refusal. 'The criminal court, which looked into the case, refused to release the vessels without specifying the reason or the relevant legal point on the basis of which the ships were kept in custody,' an informed source told Arab News yesterday. It was reported earlier that the Qatari Coast Guard seized seven Saudi fishing vessels on charges of trespassing into that country's waters. The source said there is no legal basis for the Qatari authorities' detention of the ships even after the willingness of the sailors to pay the fine.." [more]

Call to Abolish Saudi Sponsorship System [May 23]
" Saudi human rights organisation has called for the abolition of the sponsorship system applied for expatriate workers. The National Human Rights Association (NHRA), a non-governmental organisation, said in its first report since its establishment in March 2004 that the sponsorship system was the cause of many human rights violations of foreign workers in Saudi Arabia.. ..The association noted that it has monitored a number of women's rights violations such as forcing a woman to bring a legal guardian for performing many of her activities. The NHRA added that it was a flagrant violation of a woman's rights not to allow them to do any kind of business unless through a legal guardian.." [more]

Kingdom, Egypt Suspend Red Sea Ferry Services [May 23]
"As part of an official clampdown on vessels that fail to comply with international safety standards, marine transportation authorities in Egypt and Saudi Arabia have stopped a number of ferries from carrying passengers between the two countries across the Red Sea. Reliable sources from the Saudi Seaports Authority said currently five ferries are operating between the two countries. 'A lack of adherence to safety regulations was the main reason behind ferry disasters such as the sinking of Al-Salaam Boccaccio 98 last year,' said the source.. ..Ferries will continue to be stopped from operating over the next few months, which coincide with the peak Umrah season due to summer vacations in both countries.." [more]

Saudi Banks to Adopt Basel II in January 2008 [May 23]
"Saudi Arabia will adopt the Basel II risk-based capital framework at the start of next year to strengthen the country�s financial system, the central bank governor said yesterday. The Basel II accord, adopted by the Basel Committee on Banking Supervision, aims to align global bank capital standards and introduces new formulae to more closely tie capital requirements to asset risk, replacing a less differentiated standard in force since 1988.." [more]

U.S. Lawmakers Take a Jab at OPEC [May 23]
"The House took aim at the Organization of the Petroleum Exporting Countries on Tuesday, voting overwhelmingly to brand the cartel's efforts to control world oil prices illegal. And with support of the legislation strong in the Senate as well, President Bush soon could be thrust into the unenviable position of siding with OPEC producers at a time of painfully high gasoline prices. As American motorists forked over a record average $3.21 a gallon � according to the most recent AAA survey � the House voted 345-72 Tuesday to approve a bill that would authorize the attorney general to sue the OPEC countries in U.S. courts.." [more]

~~~~~~~~ [ May 22 ] ~~~~~~~~~

Saudi Arabia's National Air Services Places $650 Million Orders for Gulfstream G450 Business Jets [May 22]
"National Air Services (NAS), the largest and fastest-growing independent provider of private aviation and fractional share services in the Middle East, today announced it has signed a multi-aircraft contract with Gulfstream Aerospace. The multi million dollar contract calls for firm orders on three large-cabin, long-range Gulfstream G450 business-jet aircraft, with options for 17 more G450s, which if exercised will bring the contract?s value to potentially in excess of US$700 million.. ..The Gulfstream deal is crucial for NAS future fleet plans and a landmark for our company. We serve an increasingly growing market and this deal is a demonstration of our commitment towards our customers?, noted Taher Agueel, CEO, NAS. ?A jet class of its own, the G450, is destined to appeal to the passionate corporate and private aviation traveler across the Middle East.." [more]

Saudi Announces Refinery Build Shortlist [May 22]
"The Saudi oil ministry has shortlisted eight local firms to build and operate an oil refinery in Jizan in partnership with international companies that will be invited to make bids, newspapers said on Tuesday. The refinery is to be part of an "economic city" in the impoverished region of Jizan in the far south of Saudi Arabia on the Red Sea coast near Yemen. The plant will have capacity to process between 250,000 and 400,000 barrels per day. Top oil exporter Saudi Arbia aims to boost refining capacity at home to 3.4 million bpd in 2012 from 2.1 million bpd last year.." [more]

Saudi Business Delegation Set to Explore Opportunities in Canada [May 22]
"The executive arm of the Saudi-Canadian Business Council on Sunday discussed the final arrangements for the upcoming Saudi businessmen's visit to Canada organized by the council, according to Ali Al-Yami, vice chairman of the council and the head of its media committee. The delegation comprising 40 businessmen representing various commercial and industrial sectors, g overnment agencies and public undertakings aims at exploring and expanding the areas of mutual trade and investment by Canadian and Saudi businessmen. The start of the visit is on June 10.." [more]

GCC Interior Ministers Agree to Increase Security Coordination [May 22]
"The interior ministers of the Gulf Cooperation Council (GCC) have emphasised that security cooperation and coordination between the six countries was the key to insulating them from any security threats in the region. The meeting said this cooperation along with the efficiency of the security forces is enough to protect the GCC states. Surprisingly the final communiqu� of the 8th consultative meeting of the interior ministers here did not contain any reference to Iran's nuclear programme.. ..The GCC interior ministers highlighted the efforts exerted by the Saudi security forces in foiling terrorist plans to attack vital installations in the Kingdom. The ministers renewed their support to the measures adopted by the Kingdom.." [more]

Saudis Fret After Kuwait Alters Peg [May 22]
"A number of Saudi financial experts said Kuwait's decision to peg its currency to a basket of currencies instead of the dollar has frustrated the Gulf Cooperation Council's (GCC) plan to achieve monetary union by 2010. In statements to Gulf News, they expressed surprise at Kuwait's step, which they said was done without coordination with the other member states since pegging the Gulf currencies to the dollar was made under a GCC agreement. Dr. Saeed Al Shaikh, senior economist at Arab National Bank, said the decision by Kuwait creates the impression that there are doubts that a unified GCC currency can be achieved by 2010. He added that though some other GCC states said they would not follow Kuwait's example, they may change their policies due to high inflation in these countries.." [more]

Feasibility Studies Begin on N-energy Program [May 22]
"Gulf Cooperation Council (GCC) states began working on feasibility studies for a joint nuclear program on Monday. 'The promising future of nuclear energy in electricity generation and desalination can make it a source for meeting increasing needs,' GCC secretary general Abdul-Rahman Al-Attiya told the first meeting of Gulf nuclear experts. The GCC, a major energy producing group that includes Saudi Arabia, Kuwait, Oman, Qatar, Bahrain and the United Arab Emirates, agreed with the UN atomic watchdog in February to cooperate in early preparations for atomic energy. Reiterating GCC claims in December that their program would be peaceful and transparent, Attiya said it aimed to cut carbon dioxide emissions in the Gulf region. 'A large part of Gulf Cooperation Council oil and gas products can be used for export in light of expected high prices and demand,' Attiya said.." [more]

Egypt Favors Saudi Causeway in Another Spot [May 22]
"Egyptian Tourism Minister Muhamed Zoheir Garana said in comments published yesterday that his country was not against building the Saudi-Egyptian causeway over the Red Sea. �We have not rejected the projected totally,� he said. However, the minister pointed out that the $3 billion project that would link the Asian and African continents required detailed studies. Garana also said that the causeway would have positive results in many areas. The minister, nevertheless, objected to building the causeway near the tourist resort of Sharm El-Sheikh, which attracts a large number of foreign 
tourists every year.." [more]

~~~~~~~~ [ May 21 ] ~~~~~~~~~

Saudi Arabia Frees Detained Kuwaitis [May 21]
"Saudi authorities released five Kuwaiti nationals 10 days after detaining them in the holy city of Madinah for distributing audiotapes yesterday. Security sources said that after arriving in Kuwait on Saturday night, the five underwent further security investigation until noon yesterday, adding they could be summoned at any time for further questioning. However, the sources underlined that the five returnees did not belong to any terrorist group or organization. They said that the tapes the pilgrims were distributing did not include terror ideologies or concepts, but dealt with the propagation of Islam, discipline and etiquette. Kuwaiti security authorities were also awaiting the results of the investigations conducted by Saudi authorities.." [more]

Businessmen Voice Concerns Ahead of GCC Common Market [May 21]
"Businessmen and women yesterday expressed their doubts and apprehensions about the proposed Gulf Cooperation Council (GCC) common market, which is expected to become a reality before the end of the year. Members of the committee formed by the Consulting Commission for the Higher Council of the GCC Arab Countries met with businessmen at the Jeddah Chamber of Commerce and Industry (JCCI) to hear their views about preparations and requirements for establishing a proper work and investment environment. Some of the main issues had to do with laws and regulations, transparency and accountability.." [more]

Saudi Gains Approval for Lyondell Buy [May 21]
"Saudi Arabia's National Industrialisation Co. said on Sunday a subsidiary had won approval for the purchase of U.S. company Lyondell Chemical Co.'s titanium dioxide pigment business. Lyondell said in February it would sell the unit for about $1.2 billion to the National Titanium Dioxide Co. (Cristal), in which NIC holds a 66-% stake.. ..The operations being sold include eight plants in Europe, Australia and the Americas. The deal includes a cash payment of $1.05 billion and the U.S. firm said it would use after-tax proceeds of $975 million to accelerate its debt reduction.." [more]

Official Fined in Case of Harassment [May 21]
"The Court of Grievances has found a government official guilty of mistreating a Saudi family and fined him SR2,000, the Saudi Press Agency said quoting a statement from the Riyadh governorate. At the same time, the court acquitted another accused official, saying there was not enough evidence against him. A criminal court had previously found him guilty of mistreatment and fined him SR1,000, the statement said. The Court of Grievances in Riyadh gave its verdict in a case filed by a mother and daughter who were stopped by officials of the Commission for the Promotion of Virtue and Prevention of Vice in 2004 in front of Star City Amusement Park in Riyadh. The officials accused the women, who were in a car with their driver, of not conforming to customs of decency.." [more]

OPEC Must Add More Oil to the Market to Avoid Record Prices [May 21]
"OPEC must add more oil to the market to avoid a price spike which would match last year's record of nearly 80 usd, said the Centre for Global Energy Studies (CGES). In its latest monthly market report the research house also said there is an insufficient level refinery cracking capacity to convert crude into gasoline and meet this summer's peak demand driving season in the US. 'The world needs more oil than OPEC seems willing to supply, making it difficult to avoid another surge in oil prices over the coming summer,'.." [more]

~~~~~~~~ [ May 20 ] ~~~~~~~~~

Expedite Elimination of Banned Weapons: Kingdom [May 20]
"Saudi Arabia has called on countries that possess chemical weapons to respect their commitments to the Chemical Weapons Convention (CMC) and expedite their efforts to eradicate their stockpiles. 'At a time when we have shown our respect to our commitment to the CWC, we expect all member countries to follow suit,' said Prince Turki ibn Muhammad, deputy minister of foreign affairs and head of the National Commission for Chemical Weapons Convention (NACWC).. ..The official mentioned that since the US became a signatory, it had managed to destroy only 41 percent of its total chemical weapons. 
Countries of the former USSR have also extended their deadline to 2012. They have only destroyed 20 percent of their stockpile. The official, however, said the Kingdom had come a long way in implementing its CMC�s obligations.." [more]

GCC Interior Ministers Meet Today to Discuss Security Cooperation [May 20]
"Interior ministers of the Gulf Cooperation Council (GCC) member states are to discuss, during their 8th consultative meeting in Riyadh today, ways of enhancing security coordination for fighting terrorism and the repercussions of the situation in Iraq on the security of the six states.. ..'The meeting will discuss different aspects of enhancing security cooperation and exchange of information'. 'The interior ministers will also discuss intensifying coordination and cooperation between the concerned security bodies to protect the societies in the GCC states from all alien phenomenon like terrorism and others,'.." [more]

Saudi Arabia to Seek $2.7b Compensations From Tobacco Firms [May 20]
"Officials at Saudi Arabia's Health Ministry said that the Kingdom will request over $2.7 billion in damages from international tobacco companies in a lawsuit due to go on trial this September in Riyadh, Khaleej Times reported. According to Saudi officials, the suit will require companies to pay $2.7 billion as well as $133.3 million per year in compensation for the costs of treating Saudi national who suffer smoking-related diseases. The ministry did not specify the companies it will sue.." [more]

Saudi Investors are Favouring Dubai [Mau 20]
"Dubai is increasingly becoming a safe haven for investors from Saudi Arabia. These investors are putting funds in property, the stock market and businesses at large. According to the May issue of the Arabic version of Forbes magazine, some 30,000 Saudi nationals invested a hefty $15 billion in the Dubai stock market in 2006. Saudis are second only to UAE nationals among investors in the bourse.. ..valid reasons explain why Saudis choose Dubai. These include absence of ownership restrictions on GCC nationals and availability of liquidity among investors interested in trading in property.." [more]

Saudi Teen Joins Elite Group [May 20]
"To the cheers of thousands of scientists, educators and students from 51 nations, Saudi student Ahmed Khalid Al-Nuaimi received a scholarship for his work in behavioral and social sciences Friday at the International Science and Engineering Fair (ISEF) at the New Mexico Expo in Albuquerque. Earlier, Al-Nuaimi received a special award for best use of the scientific method in a project display and was given membership in the Association for the Advancement of Artificial Intelligence. Judges were impressed with the project of the 16-year-old student from Dammam�s Al-Ansar School titled �A Smart Shoe for Blind People,� in which he detailed shoes with electronic sensors and audible alarms that can guide the blind or visually impaired.." [more]

May 13-May 19, 2007

~~~~~~~~ [ May 19 ] ~~~~~~~~~

Saudi King Visits Morocco, Promises 50 Million Dollars [May 19]
"Morocco and Saudi Arabia on Friday signed accords to strengthen cooperation, with Saudi Arabia promising to donate 50 million U.S. dollars to Morocco's development. Saudi King Abdullah bin Abdul Aziz started his two-day visit to Morocco Thursday in the historic city of Fez, east of the capital Rabat. This is his first visit to an Arab nation since Abdullah became king in August 2005.. ..Saudi Arabia is Morocco's main supplier of oil and since 1999 its development fund has lent the North African kingdom 170 million dollars to help build schools and hospitals.." [more]

Canada Concerned Pair Held in Saudi Mistreated [May 19]
"Canada�s top diplomat said yesterday he fears two Canadian brothers who face beheading in Saudi Arabia for a murder they insist they did not commit may have been mistreated by Saudi authorities. 'We are very concerned about allegations of mistreatment (in Saudi Arabia),' Foreign Minister Peter MacKay said in the House of Commons. 'We have made representations to the Saudi government about our concern for their well-being and we will continue to do so,' he said. 'As well, we have in the past expressed our concerns (to the Saudis) about allegations of torture.'.." [more]

Saudi Diplomat Urges Palestinians to Stop Aggression Against Israel [May 19]
"Saudi diplomat Turki al-Faisal al-Saud Saturday urged Palestinians to stop shedding each other's blood, and also called on them to stop directing their weapons towards Israel.. ..The Saudis are hoping Israel would get on board with an Arab- backed proposed peace initiative that promises recognition of the Jewish state, in addition to full diplomatic ties on the condition that Israeli troops would pullout from the Palestinian territories occupied in 1967, the Golan Heights in Syria and some territories in southern Lebanon.." [more]

7 Saudi Insurance Firms Launch IPOs Today [May 19]
"The initial public offerings (IPOs) for 35 million shares of seven insurance companies will begin today, the Saudi Capital Market Authority (CMA) announced yesterday. The IPO is worth SR350 million at a nominal SR10 per share.. ..some investors feel that the decision by the CMA to float all seven insurance companies coupled with future plans to list them on the Tadawul together, will cause unnecessary chaos in an already fragile market. 'People these days don�t have a lot of cash, so just as in the past, investors will rush to sell their shares as soon as they list on the Saudi stock market. I think this will cause a market index drop from the seven thousand range into the six or five thousand mark.'.." [more]

~~~~~~~~ [ May 18 ] ~~~~~~~~~

Arab Peace Plan Hangs in Balance [May 18]
"Israel's escalation of its attack on Gaza yesterday amid a stunning wave of inter-Palestinian bloodshed have cast doubt on the fate of the revived Arab peace initiative and threatens to undermine Arab efforts to promote the plan. It has become difficult to move with plans to promote the initiative, re-launched at the Riyadh Arab Summit last March, admitted a senior Arab League official. But the League will not stop its efforts despite the latest Israeli aggression.. ..'Israel has again proved that it is not at all serious about making peace,' Hesham Yousuf, Arab League spokesman told Gulf News on the telephone from Cairo.." [more]

US-Backed Arab TV Network to Be Investigated by Congress [May 18]
"Al-Hurra, the Arabic language satellite television network set up by the US government to promote freedom and democracy in the Middle East, is to be investigated for possible irregularities, the State Department confirmed yesterday.. ..Critics say that Larry Register, a former CNN producer who doesn�t speak Arabic, has given voice to terrorists. In recent weeks both conservative Republicans and liberal Democrats have attacked Al-Hurra for, in the words of The Wall Street Journal�s editorial last week, providing 'friendly coverage of camera-ready extremists from Al-Qaeda, Hamas and other terrorist groups.' State Department officials call these errors in judgment. But critics of the station, whose name means 'the Free One' in Arabic, say there is little oversight to what the US-funded TV is showing.." [more]

Saudi Liberals Advance Agenda With New TV Show [May 18]
"Saudi liberals have added a new television programme to their media arsenal in an ongoing battle against the Muslim kingdom's powerful religious establishment and ingrained social conservatism. 'More Than a Woman' began airing in April on Lebanese channel LBC -- majority-owned by Saudi billionaire Prince Alwaleed bin Talal -- with sharp discussions about a litany of restrictions on women in Saudi Arabian society. Presented by Saudi filmmaker Haifaa Mansour, the show has broken ground in its discussion of the absence of women in Saudi Arabia's unelected parliament, gender segregation encouraging homosexuality and the idea of women entering the judiciary. Judges in Saudi Arabia are in fact religious scholars.." [more]

Saudi Health Care Expo to Appraise Industry Needs [May 18]
"The annual twin show of Saudi Health Care and Saudi Hospital, to be held in Jeddah on May 20-23, will showcase the latest services and equipment related to the sector and will be marked by a two-day symposium at the Jeddah Hilton Hotel.The 14th health care exhibition is an international show of medical, insurance, dental, pharmaceutical, scientific equipment and lab ware. The Saudi Hospital is an international event for non-medical hospital infrastructure, supplies and furnishings.." [more]

Saudi Gold Market on Way to Recovery [May 18]
"Volume of gold demand in Saudi Arabia rose 6.9 per cent to 26 tonnes in the first quarter of this year, as consumers became accustomed to higher prices and the stock market euphoria cooled off, a senior World Gold Council official said.. ..Saudi Arabia's gold demand fell 16.4 per cent to 128.1 tonnes in 2006 due to price volatility in the first half of the year, but demand rose 14.7 per cent in the fourth quarter of 2006 from the same period in 2005, the WGC said in February. High and volatile prices also halved gold scrap flows in the country in the first quarter of 2007.." [more]

Malaysian and Saudi Banks in Islamic Deal [May 18]
"Malaysia's central bank said yesterday it had signed a commodity-based Islamic finance agreement with Saudi Hollandi Bank, the first such pact with an Islamic bank outside Malaysia. The agreement is based on Bank Negara's Commodity Murabahah Programme, which helps Islamic banks to manage their short-term cash flows. Islamic finance is a new industry and is still developing instruments that would enable banks to manage liquidity in a way that complies with Sharia, or Islamic law, which bans payment of interest.." [more]

~~~~~~~~ [ May 17 ] ~~~~~~~~~

GCC to Take up N-plans With IAEA [May 17]
"A working team from the Gulf Cooperation Council states will hold its first meeting with experts from the Vienna-based International Atomic Energy Agency at GCC headquarters in Riyadh from May 21 to 22. A press release issued by the Gulf Cooperation Council Secretariat General yesterday said the meeting aims to reach an agreement on the framework, goals, elements and steps for the preparation of the initial feasibility study for the GCC nuclear programme, which is the utilisation of nuclear power for peaceful purposes within international standards and requirements.." [more]

Saudi�s Western Way, US Gerald Metals Sign $4bn Aluminium Deal [May 17]
"Saudi Arabia�s Western Way For Industrial Development yesterday said it had signed three agreements with Gerald Metals of the US to help it develop an estimated $4bn aluminum complex on the country�s Red Sea coast. Under the agreements, Connecticut-based Gerald and its affiliates will supply bauxite to Western Way�s aluminum refinery and offtake all aluminium produced at the smelter. Gerald will also take a 20% equity stake in the project.." [more]

Sudan-Chad Deal Another Saudi Diplomatic Win [May 17]
"In a move that affirms its belief that regional problems need regional solutions, Saudi Arabia scored yet another diplomatic victory by brokering a deal between Sudan and Chad to quell spillover fighting from the Darfur crisis. While the impact will become clearer in the months ahead, there is no denying that the recent accord � encouraging the two African neighbors to stop rebels and opposition groups from staging cross-border raids and support the African Union�s efforts to stabilize Darfur � breaks new ground in a festering crisis.. ..Apart from being a major economic power in the Gulf and Middle East, Saudi Arabia�s need to get involved in conflict resolution efforts in the Arab and Islamic worlds stems from its leadership�s newfound zest for attempting to slowly start addressing the Muslim world�s accumulated baggage of problems.." [more]

Nobel Laureates Plan Mideast Science Fund [May 17]
"Nobel laureates wrapped up yesterday two days of brainstorming on the challenges facing Arab and Israeli youths with plans to set up a science fund for Middle East development. �I think everybody agrees with our suggestion to create a Middle East science fund� to develop research and improve education for Jordanians, Palestinians and Israelis, Nobel peace laureate Elie Wiesel said. The $10mn fund will be managed by the King Abdullah II Fund for Development, which co-organised the gathering with Wiesel�s Foundation for Humanity, organisers said in the ancient city of Petra.." [more]

Khaled Al-Faisal Is Makkah Governor [May 17]
"Prince Khaled Al-Faisal, governor of the Asir region and director general of King Faisal Foundation, has been appointed governor of the Makkah region. Custodian of the Two Holy Mosques King Abdullah made the appointment yesterday in a royal decree. Prince Khaled�s appointment comes following the death of Prince Abdul Majeed, who served as Makkah governor from 2000 until he died on May 5, 2007 at Seattle University Hospital in the United States following a prolonged illness. Prince Faisal ibn Khaled ibn Abdul Aziz is the new Asir governor.. ..Born in 1940, Prince Khaled, who is the son of King 
Faisal, is a great thinker and poet and an accomplished artist.." [more]

Red Sea Projects to Attract SR150 Billion [May 17]
"New tourism projects on the Red Sea coast are expected to attract nearly SR150 billion, according to statistics made public by officials of the Supreme Commission for Tourism (SCT) during a workshop held here. They further estimated annual tourist spending at new Red Sea tourist resorts to be valued at SR9.9 billion. The Red Sea projects will be established in Ras Humaid, Sharma, Qayyal, Dhaffat Al-Wajh in the Tabuk region, Arrayes in Yanbu, Ras Muhaisen in the Makkah region, Haridha in the Asir region and Fursan in Jizan. The new resorts will have a total of 557,000 rooms and create 413,000 jobs, including 165,000 direct jobs in the first five years.." [more]

Big Things Are on the Horizon� in Education [May 17]
"The director of the women�s section and strategic planning of the King Abdul Aziz and His Companions Foundation for the Gifted is accompanying the Saudi students taking part in the International Science and Engineering Fair.. ..Dr. Amal Al-Hazza, a microbiologist from Riyadh who now plays a leadership role with the Foundation, took time out to discuss the Saudi science fair team and the future of education for gifted students in the Kingdom. She said big things are on the horizon in Saudi education. 'The king is very keen on improving the country�s education system, and he wants to get the students involved in science fairs and other competitions,'.." [more]

Crude Futures Rise Above US$63 a Barrel on OPEC Reluctance to Pump More Oil [May 17]
"Oil prices rose Thursday on comments by a top OPEC leader that the oil cartel will not pump more crude to meet an expected surge in demand during the summer driving season. The concerns surfaced despite a U.S. government report that showed domestic gasoline stockpiles increased last week. Light, sweet crude for June delivery was up 52 cents to US$63.07 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe. The contract fell Wednesday after crude oil, gasoline and distillate inventories were all reported to have increased last week.." [more]

~~~~~~~~ [ May 16 ] ~~~~~~~~~

Saudi Sabic Makes Final Offer to Acquire GE Plastic [May 16]
"Saudi Basic Industries Corporation have joined the fierce competition to acquire General Electric's plastics division as it has submitted its final offer in a deal that could value the business at up to $12bn, Financial Times reported. Privately owned Koch Industries, Apollo and Basell have all made offers to buy the divison, which GE plans to sell in order to divest commodity businesses to focus on higher-growth industries.. ..Sabic, which is 70 percent owned by the Saudi government and one of the world's 10 largest petrochemicals manufacturers, is one of the strongest bidders.." [more]

Opec Sees No Shortage of Crude in the Market [May 16]
"Opec sees no shortage of crude in global markets despite consumer calls to increase supply before the summer to help boost inventories and bring down high prices. 'We think there is no shortage of crude in the market at the moment,' Opec president and UAE Minister of Energy Mohammad Bin Dha'en Al Hamili said yesterday. 'The market is in balance... and fundamentals are in good shape now. We will increase supply if there is a need to or if the market needs it'.. ..The IEA has urged Opec to open the taps for the past three months. The energy department of the United States echoed the call on Monday.." [more]

Saudi Arabian King to Visit Morocco [May 16]
"Saudi Arabian King Abdallah Ibn Abdelaziz will make an official visit to Morocco on Thursday and Friday at the invitation of Moroccan King Mohammed VI. During this visit, King Mohammed VI will hold official talks with the Saudi king, and will later host a state dinner in his honor at Royal Palace Fes, according to a statement issued Tuesday by the Moroccan ministry of royal affairs, protocol and chancellery.." [more]

Security Brings Investments to Saudi Arabia [May 16]
"Saudi Arabia is one of the most secure countries in the world and the increasing inflow of foreign investments is a strong evidence of that, according to Interior Minister Prince Naif.. ..'The growing investments from within and outside the country are a strong proof of stability and investor-confidence,' Prince Naif said in comments carried by the Saudi Press Agency. Saudi Arabia has licensed 1,389 foreign and joint projects with a capital investment of SR253 billion until 2006, registering a 25 percent rise in investments. The government is also planning to attract new investments worth SR300 billion this year.." [more]

5 Kuwaitis Arrested in Saudi City [May 16]
"Saudi authorities have detained five Kuwaiti nationals and a Saudi in the holy city of Madinah.. ..The six men were arrested last Wednesday while distributing audiotapes on a road in downtown Madinah, General Mansur al-Turki said, declining to say what was on the tapes. He said that Saudi police were �co-ordinating with Kuwaiti security authorities in questioning the detained Kuwaitis to find out the motives behind distributing the tapes.. ..Kuwait�s ambassador to Saudi Arabia, Sheikh Hamad Jaber al-Sabah, said the men were detained on �suspicion� without elaborating.." [more]

~~~~~~~~ [ May 15 ] ~~~~~~~~~

Al Qaeda Suspects Confess Saudi Strikes [May 15]
" Four suspected al Qaeda members planned attacks on Saudi Arabian oil facilities and other Gulf Arab oil producers, they said in confessions shown on Saudi television Tuesday, after they were arrested last year. Saudi police arrested the four in April last year in connection with a failed attack two months earlier on Abqaiq, the country's biggest oil-gathering facility. Saudi Arabia is the world's biggest oil exporter, supplying about 7 million barrels per day, and holds almost a quarter of the world's oil reserves.. ..Another suspect, identified as Khaled al-Kurdi, said al Qaeda leadership in Saudi Arabia told them that the attacks on oil facilities would be 'equal' to the September 11, 2001 attacks.." [more]

Swiss Investigating BAE in Money Laundering Case [May 15]
"Law enforcement authorities in Switzerland confirmed Monday that they had opened a criminal investigation into possible money laundering at BAE Systems, adding to the international scrutiny of the company, the top British military contractor.. ..The news follows a meeting last week in The Hague of prosecutors from Austria, Britain, the Czech Republic, Sweden and Switzerland. They are seeking to coordinate corruption inquiries related to the sale and lease of Gripen fighter jets, which are built by Saab of Sweden and sold through a joint venture with BAE. The two companies are accused of offering intermediaries as much as 1 billion kronor, about $150 million, to promote the sale of the jets to the Czech Republic and Austria in 2002.." [more]

Saudi Arabia Discovers Two Gas-Rich Oil Fields [May 15]
"Two new gas-rich oil fields have been found in Saudi Arabia's Eastern Province, close to the massive Al-Ghawar field, Oil Minister Ali al-Nuaimi has announced. The Mabruk 1 field, which lies 30 kilometres southeast of Al-Ghawar, will produce 5,600 barrels of heavy crude and 2 mln cubic feet of gas per day, Nuaimi said in a statement carried by the official SPA agency. The Durwazah 1 field, located 70 kilometres southeast of Al-Ghawar, will produce 5,569 barrels of light crude and 2.8 mln cubic feet of gas per day. The Al-Ghawar field - the world's largest - has a production capacity of 6 mln bpd.." [more]

Saudi-UAE Economic Forum Clears Doubts [May 15]
"Officials, who had gathered at the Saudi-UAE Economic Forum, agreed that urgent measures were needed to solve economic obstacles between the Kingdom and the UAE, and that small differences between Saudi and Emirati businessmen should not be allowed to hamper further progress in joint ventures between the two countries.. ..The forum also saw a series of Saudi and Emirati government officials address a number of serious issues, which stand in the way of joint ventures between the two countries. In the workshops, officials discussed topics such as dumping, custom tariffs, trade volume and the need for committees to enhance banking cooperation, as well as the need for further collaboration between Saudi and Emirati businesswomen in the real estate sector.." [more]

Saudis Target Firecrackers Amid Security Crackdown [May 15]
"Saudi Arabia yesterday said it intended to regulate more tightly the sale and use of firecrackers and commercial explosives, weeks after widespread arrests of suspected Al Qaida-linked militants. The Saudi cabinet said after a meeting chaired by King Abdullah that the sale, use and production of non-military explosives and firecrackers would be strictly controlled. Penalties would be imposed for those not abiding by the new measures, published by the state news agency SPA. Details of punishments for disobeying the rules would be issued by the Interior Ministry within four months.." [more]

Saudis Continue to Keep Lid on Crude Supply [May 15]
"Saudi Arabia, the world's top oil exporter, will keep its crude oil supply curbs to Asia and Europe steady in June from May, industry sources said yesterday. The steady volume indicates that the kingdom, the largest producer in Opec, is still keeping a lid on supply, following deals with other member countries to trim supply by 1.7 million barrels per day.. ..The Organisation of Petroleum Exporting Countries (Opec) is under pressure from consumers to reverse the supply curbs agreed last year that have helped lift the price of Brent crude to above $67 a barrel from about $50 in January.." [more]

Dumping Common in GCC Countries [May 15]
"Neither Saudi Arabia, nor other five member states of the Gulf Cooperation Council (GCC), have introduced any anti-dumping laws against other World Trade Organization (WTO) member countries. At the same time WTO member countries continue to dump their products on GCC markets, said an official from the Saudi Arabian General Investment Authority (SAGIA) speaking at a symposium here yesterday. According to the WTO agreement, members are required to sign agreements which specify that their products would not be dumped in another WTO member state.. ..Sattam Al-Tayyar, senior adviser at SAGIA, pointed a finger at the GCC secretariat general for not being able to provide financial guarantees in this matter so that member states could start taking measures. He said that negligence by GCC countries regarding this matter would cause �huge losses� to GCC economies.." [more]

~~~~~~~~ [ May 14 ] ~~~~~~~~~

Oil Rises on Saudi Supply Decision [May 14]
"Oil rallied to nearly $63 on Monday as Saudi Arabia kept OPEC supply curbs in place through June and West African supplies faced continuing disruption. U.S. oil rose 56 cents to $62.93 after rising 56 cents on Friday when oilfield outages in Congo and Nigeria added to investor concern over U.S. gasoline stocks at their lowest in 16 years for the time of year. Peak gasoline demand in the world's top consumer kicks in for summer.. ..The International Energy Agency (IEA) called on OPEC on Friday to raise oil output before the summer to prevent a sharp decline in consumer nations' crude oil stocks.." [more]

Autogrill jv Aldeasa Wins Contract to Run First Saudi Arabian Duty-Free Stores [May 14]
"Autogrill SpA said its 50:50 joint venture Aldeasa will run the first duty-free stores in three Saudi Arabian airports for a period of 10 years, in a partnership with the Al Musbah international group.. ..The venture will run five stores of which two are in Riyadh's airport and cover a total of 2,600 square metres, another two in Jeddah for a total surface of 1,500 square metres and the fifth in Damman covering 400 square metres.. ..The stores will sell, among other things, international luxury leather goods, accessories brands and high-end fragrances and cosmetics.." [more]

Court Postpones First Lawsuit Against Virtue Commission [May 14]
"The Court of Grievances in Riyadh yesterday postponed until July 2 the first ever compensation lawsuit against a member of the Commission for the Promotion of Virtue and the Prevention of Vice filed by a Saudi woman after commission members failed to respond to a court summons.. ..Al-Lahem is representing a mother and daughter who were stopped by commission members in 2004 in front of a Riyadh shopping center. They accused the women, who were waiting in their car together with their driver, of not conforming to customs of decency.." [more]

Saudi Authorities Release Draft Bill to Regulate Mergers [May 14]
"The Saudi Capital Market Authority (CMA) has released a new draft bill aims at regulating the merger and acquisition process for listed companies. CMA said the bill was prepared after a thorough review of international norms in this field. It asked those concerned to express their views about the draft bill before it is approved, adding that all suggestions will be considered.. ..The bill covers a number of issues like obliging the M&A parties to take independent consultation from a CMA-licensed financial adviser, regulating acquisition packages that include conflicts of interest, setting timetables of the acquisition process and others.." [more]

~~~~~~~~ [ May 13 ] ~~~~~~~~~

Cheney Meets Saudi King [May 13]
"U.S. Vice President Dick Cheney arrived on Saturday in Saudi Arabia, a key U.S. ally which has grown cold on Washington's Iraq policy, for talks with King Abdullah expected to discuss Iran's growing power.. ..Saudi television showed King Abdullah receiving Cheney in the desert town of Tabuk in the far north of Saudi Arabia.. ..Saudi Arabia shares U.S. concerns about Iran's nuclear program, which the Shi'ite power says is only for civilian purposes. But Saudi Arabia and its Arab allies Egypt and Jordan want Washington to press Iraq's Shi'ite-led government into a new political deal with Sunni Muslims and are concerned about U.S. troops leaving Iraq before such an agreement. Washington wants Arab countries to do more to help stabilize the government of Prime Minister Nuri al-Maliki.." [more]

First Case Against Saudi Religious Police [May 13]
" A Saudi civil court is to hear the first ever case brought against the kingdom�s religious police charged with enforcing a strict Islamic moral code, the woman plaintiff�s lawyer told AFP on Saturday. The unnamed woman is seeking compensation after she and her daughter were allegedly wrongfully arrested in a shopping centre car park in 2004 for 'not wearing decent clothing'.. ..The woman�s family is bringing the case before a civil court in Riyadh on Sunday after an Islamic court rejected the complaint, reportedly ruling that 'a member of the religious police cannot be judged'.." [more]

Mubarak Denies Plans for Saudi-Egypt Causeway [May 13]
"Egypt on Sunday denied there were any plans to build a causeway linking Saudi Arabia to Sharm el-Sheikh, saying such a project would be bad for tourism in the popular the Red Sea resort. On May 3, the Saudi English-language daily Arab News reported that the construction of a three-billion-dollar causeway linking the Saudi region of Tabuk to Egypt would begin in 10 days. But Egyptian President Hosni Mubarak denied the existence of such a plan, telling the state-owned Al-Messa that a causeway at the entrance of Sharm el-Sheikh would harm tourism and would also be a security threat.." [more]

Saudi Arabia Covers World Tourism in New Media [May 13]
"Prince Saud bin Faisal bin Musaid bin Saud bin Abdul Aziz has announced the official launching of a new media on world tourism called as 'World Tourism News' (WTN) on May 9th 2007 in Jeddah. The new bilingual (Arabic/English) media will reflect the Saudi tourism developments along with the boom in tourism around the world, said Prince Saud, the Chairman for Saudi Investment & Development Group, which owns the media aiming to provide latest tourism information for the readers. During the ceremony, the Prince signed a contract that declares Mrs. Ahlam Al Salimoni, as a Partner and General Manager of the group in addition to act as the Chief Editor for WTN Magazine.." [more]

Dow in Saudi Chemical Plant Deal [May 13]
"Saudi Aramco and US Dow Chemical Co announced yesterday a deal to build a petrochemical plant that industry insiders expect to be the largest foreign investment in Saudi Arabia's energy sector. The cost of the Ras Tanura plastics and chemicals complex would be "mammoth", said Saudi Aramco's President Abdullah Juma, although he declined to give details. Last week, industry sources said the plant would have an investment cost of at least $20 billion. Costs have risen with soaring inflation in the energy industry from an Aramco estimate last year of around $15 billion.." [more]

Saudi Confirms Expat Citizenship Plans [May 13]
"Saudi Arabia has reaffirmed its commitment to grant citizenship to expatriates who have qualifications in hi-tech professions.A naturalisation programme was first discussed in October 2004 when it was announced that expats with degrees in medicine, computer science, and other branches of science and technology would be given priority for citizenship. A requirement for expatriates to have spent 10 years living in Saudi Arabia was relaxed at that time. Applications for citizenship have been accepted since May 2005.." [more]

May 6-May 12, 2007

~~~~~~~~ [ May 12 ] ~~~~~~~~~

New Economic City in Tabuk [May 12]
"Saudi Arabia�s fifth economic city will be established in the northern city of Tabuk as part of a government plan to promote development all over the country. Custodian of the Two Holy Mosques King Abdullah, who arrived in Tabuk yesterday, is expected to lay the foundation stone for the mega city. King Abdullah has already launched four economic cities � in Rabigh, Hail, Madinah and Jizan � which are to attract foreign and domestic investment worth more than SR300 billion and create more than a million jobs.. ..the new economic cities would contribute $150 billion to the gross domestic product (GDP) by the year 2020. They will also provide job opportunities to 1.3 million people, living environment for 4.5 million people and increase per capita GDP from $13,000 to $33,500.." [more]

Saudi-Malaysia Ties Growing [May 12]
"The growing close relationship between Saudi Arabia and Malaysia, especially at the leadership level, has seen the increase in tourism activities and the participation of Malaysian companies and workers in the Saudi economy.. ..Several Malaysian companies have participated in Saudi Arabia's construction industry via open tenders and in joint ventures with leading local firms for projects in Riyadh, Jeddah and Mecca.. ..On why Malaysian companies were selected to undertake projects in the country, he said apart from the close relationship between the country's leaders, the Saudis have known Malaysia better not only from tourism activities but also its human capital, information and communications technology (ICT) and engineering capability.." [more]

~~~~~~~~ [ May 11 ] ~~~~~~~~~

Cheney to Try to Ease Saudi Concerns [May 11]
"Vice President Cheney faces a diplomatic rescue mission tomorrow in Saudi Arabia, where King Abdullah has told top State Department and Pentagon officials over the past six weeks that the kingdom no longer supports Iraqi Prime Minister Nouri al-Maliki and does not believe the new U.S. military strategy to secure Baghdad will work, U.S. officials and Arab diplomats said. The oil-rich kingdom, which has taken an increasingly tough position on Iraq, believes Maliki has proven a weak leader during his first year in power and is too tied to Iran and pro-Iranian Shiite parties to bring about real reconciliation with Iraq's Sunni minority, Arab sources said. Assuaging Saudi concerns is the primary reason for the vice president's trip -- and even a key reason he went to Baghdad this week.." [more]

King Unveils His Vision of an Ideal Welfare State [May 11]
"Custodian of the Two Holy Mosques King Abdullah said that the Kingdom will have to struggle hard to build an ideal welfare state. 'We have to wage battles to build an ideal welfare state where nobody is in want, a land of justice and moderation far removed from hatred and  extremism.. ..Clinging firmly to our religion of tolerance seeking help from the Almighty alone.. Without any tribal or regional fanaticism that is against the values of the religion'.. ..The king set out on a tour of the north on Monday, underscoring the government�s determination to achieve balanced growth for all regions of the Kingdom. He launched a host of projects at an approximate cost of SR6 billion in the northern border region before he arrived in Al-Jouf. Included among the projects was the Northern Border University.." [more]

Dow Chemical Could Invest $20 Billion in Saudi Arabia [May 11]
"..DOW is close to deal to build a $20 billion petrochemical plant in Saudi Arabia, the Financial Times reported late Thursday.The deal could be announced Saturday and would be the largest foreign investment in the Saudi energy sector the paper said.For Dow the deal offers low-cost oil for plastics and for the Saudi Arabian government it would provide chemicals expertise.." [more]

Saudi Authorities Clear Way for Eight Companies to Issue IPOs [May 11]
"The Saudi Capital Market Authority (CMA) has cleared the way for Makkah-based Jebel Omar Company and seven insurance companies to issue initial public offerings (IPOs). More than 236 million shares will be floated by the eight companies which collectively have a capital exceeding seven billion riyals.. ..CMA has set May 19 to 28 as the dates for IPO of the insurance companies while the public issue of Jebel Omar Company will open on June 9 and close on June 18, said a statement released by CMA yesterday.." [more]

Saudis Cautious on Investment [May 11]
"Saudi Arabia's reluctance to commit to boosting oil production capacity beyond 2009 is a response to the potentially huge impact on future demand of energy efficiency, alternative fuels and high prices. Demand uncertainty is providing little incentive for oil producers to risk investing billions of dollars on long-term projects to boost capacity, as they worry it will lie idle.. ..Saudi Oil Minister Ali Al Naimi sent the strongest signal yet last week from the the world's biggest oil exporter that it needs concrete signs of demand before committing to further supply boosts beyond its 12.5 million barrels per day target in 2009. 'Our feeling now, with the thrust and push for conservation, efficiency and the use of alternatives, is that we probably need not go beyond 12.5 million bpd'.." [more]

Opec Urged to Boost Oil Output Amid Shortages [May 11]
"Fears that world oil prices could soar to record levels of $80 a barrel this year emerged today as a leading think-tank urged Opec to increase global production of crude. The Paris-based International Energy Agency (IEA) gave warning that unless Opec members pushed up output by more than two million barrels a day in the next six months there would be a �dramatic� squeeze on oil stocks. The IEA said that gasoline supplies in the US were already at a 16-year low for this time of year. Pump prices in the US have surged to more than $3 a gallon.." [more]

~~~~~~~~ [ May 10 ] ~~~~~~~~~

Saudi Prince Gets 10-Year Sentence [May 10]
"Saudi Prince Nayef Al-Shaalan was sentenced in absentia yesterday to 10 years in jail on charges of involvement in a cocaine smuggling gang, at the outcome of his trial in France. The 53-year-old prince, who is not in line for the Saudi throne, was one of 10 people handed jail terms of four to 10 years in connection with an operation which landed two tonnes of cocaine at an airfield outside Paris in 1999. The judge ruled to uphold international arrest warrants against Prince Nayef and the nine other defendants, who include three former Colombian drugs barons.. .. He is accused of using his diplomatic immunity to smuggle drugs to France on board a private jet.." [more]

Saudis Move to Curb Money Laundering [May 10]
"The Saudi Interior Ministry has issued new rules to curb money laundering.. ..The new rules, which is expected to come into effect soon, stipule that whoever caught laundering money will be imprisoned for up to ten years and fined up to five million Saudi Riyals. The regulations, a copy of which Gulf News got, states: 'Whoever funds terrorists or terror organisations is considered to be committing a crime of money laundering.' It also warns financial and other institutions from dealings with unidentified names.." [more]

Saudi Gas Sector Opens Further to Foreign Investment [May 10]
"Saudi Arabia has announced a further opening of the natural gas industry and is encouraging more foreign investment in exploratory projects in the natural gas sector. Ali Al-Naimi, Minister of Petroleum, spoke at the Euromoney Saudi Arabia Conference Wednesday, saying that the Kingdom has been simplifying regulations in order to attract foreign investors. Around 300 potential investors from 35 different countries participated in Euromoney Saudi Arabia in Riyadh. Al-Naimi said the Kingdom has already invested SR50 billion in establishing one of the largest networks for the collection and transport of natural gas.." [more]

Kingdom on Rebound [May 10]
"What a difference a few years can make. For a period of about two-and-a-half years following the attacks of September 11, the Kingdom of Saudi Arabia appeared to be in serious trouble. Much of the outside world viewed the Kingdom as a hotbed of extremism, a country that had turned a blind eye towards its support for radical Islamism, and therefore a state that could not be viewed as a trusted ally.. ..Three years later, the picture has taken a 180-degree turn. Regionally, Saudi Arabia has assumed a leadership position with regard to many of the issues plaguing the wider Middle East, and recently hosted the Arab summit for the first time in its history. Far from being ostracised, the Kingdom is basking in new-found legitimacy and the recognition that its role in calming down regional tensions might be more valuable than ever.." [more]

Women Bringing Europe, Arab World Closer Together [May 10]
"Women can play a greater role to boost relations between the Arab world and Europe. This was very evident when eight women from Arab countries recently went to Germany for a program aimed at establishing a network among Arab women and German women with power. The exchange of ideas was a great opportunity to create better relations between the Arab world and the West. In addition the exposure to the experiences of German women in politics, business and society was an incentive for women in the Arab world. The resulting dialogue was a recognition of Arab women as engines for peace and the knowledge gained was of great support to the endeavors of Arab women to contribute to the economic prosperity of their countries.." [more]

GE Signs $1b Power Plants Deals in Saudi Arabia [May 10]
"A senior official at General Electric Energy said that the company has signed a second set of agreements worth $1 billion for major power plant projects in Saudi Arabia, Khaleej Times reported. The official indicated that the projects, combined with the plans announced in December 2006, represent a total value approximately $2 billion investments for GE in the KSA.. ..These commitments follow GE's announcement last December that it had signed three contracts valued at more than $950 million for the Qurayyah, Faras and Riyadh Power Plant No. 8 extension projects in Saudi Arabia.." [more]

Saudi Schools Launch Project to Fight Extremism [May 10]
"Saudi schools this week begun a 7-day project to refute the takfir ideology and combat extremist thinking that has led to its supporters turning to youngsters and transforming them into time-bombs that threaten both internal and external security.. ..Saudi Arabia has outlined an anti-terrorism strategy as part of its firm policy that constitutes the various underlying foundations and principles of the state�the protection of religion, lives, money, honor, minds, and bringing about the security of the state and society in accordance with Shariaa law.." [more]

~~~~~~~~ [ May 9 ] ~~~~~~~~~

Fluor Receives $1 Billion Saudi Contract [May 9]
"Engineering, construction and project management company Fluor Corp. said Wednesday it received a $1 billion contract from Saudi International Petrochemical Co. Fluor will provide engineering, procurement, construction management and precommissioning services to the company's new acetyls complex in Jubail, Saudi Arabia. Construction began earlier this month. Fluor expects to complete the project in December of 2008.. ..Irving, Texas-based Fluor booked the contract in the first quarter. Shares rose $1.65 to $102.07 in morning trading.." [more]

GCC Will Not Go Nuclear for 15 Years [May 9]
"Plans for the GCC to begin producing its own nuclear power have been given the green light by the International Atomic Energy Agency, but it will take up to 15 years before any power plant could become operational, according to Kuwait's Foreign Minister. Speaking to the Al Qabas daily newspaper yesterday, Sheikh Mohammed Sabah Al Salem Al Sabah, said that a lengthy period of consultation and planning would be required, even if the plan was sanctioned today.. ..The Kuwaiti Foreign Minister was responding to questions related to an announcement made last December at a GCC heads of state conference where it was agreed that the GCC would work together on developing a civilian nuclear capability. It was widely reported at the time that the GCC was flexing its muscles at a time of increasing tension with Iran, and its rapidly developing nuclear programme.." [more]

Mideast Stalemate is Adding to Tension in Region, says Saud [May 9]
"The continuing stalemate in the Middle East peace process is causing tension in the region, Saudi Foreign Minister Prince Saud Al Faisal has said. Prince Saud reiterated the Arab commitment to working towards the realisation of a just and comprehensive peace within the framework of the Arab peace initiative which is based on the principles and decisions of the international legitimacy.. ..'In our view it [the Arab peace initiative] constitutes a historical opportunity which we hope would not be wasted,' Prince Saud said.." [more]

Poet Prince Passes Away [May 9]
"Poet, politician and sportsman, Prince Abdullah Al-Faisal Bin Abdul Aziz passed away on Wednesday, following a long struggle with illness. He was 80. The eldest son of the late King Faisal Bin Abdul Aziz, he grew up in the ruling court of his grandfather, King Abdul Aziz, the founder of modern day Saudi Arabia.. ..He will be remembered, perhaps, as much for his words as for his accomplishments, however, as he was considered one the finest poets ever produced by the Kingdom. 'He was a prince of art, poetry and feelings,' according to Muhammed Ali Qudus, a member of the art and literature club in Jeddah. 'Artists all over the world lost a great figure.'.." [more]

Saudi Report: Terror Cell Had Syria Base [May 9]
"One of seven recently exposed Saudi terrorist cells used Syria as a base for coordinating with al-Qaida in Iraq and held training camps in the desert of neighboring Yemen, a newspaper owned by Saudi Arabia's royal family said Tuesday.. .'One of the uncovered cells used Syria as a `safe house' for meetings and coordination with active elements of al-Qaida in Iraq,' Al-Watan said. 'The houses were used for recruiting and testing loyalties of new members, most of whom were youngsters.' Al-Watan provided no source for its report. In Syria, officials were not immediately available for comment on the newspaper's claim. U.S. officials have accused Syrian authorities of allowing militants to cross into Iraq to join the insurgency.." [more]

IDB to Launch $10bn Fund to Fight Poverty [May 9]
"The Islamic Development Bank (IDB), an affiliate of the 57-member Organization of the Islamic Conference (OIC), will launch a $10 billion solidarity fund to fight poverty in member countries during its annual meeting in the Senegalese capital Dakar at the end of this month. Twenty-one member countries including Saudi Arabia, Iran, Kuwait, Algeria, Morocco and Libya have welcomed the project, one of the resolutions passed by OIC leaders during their summit in Makkah in December 2005, and agreed to contribute to the fund. Saudi Arabia has offered to contribute $1 billion to the fund.." [more]

Saudi Arabia to Cut Government Spending [May 9]
"Saudi Arabia, the world's largest oil exporter, said it plans to control government spending in a bid to limit inflation that rose to at least an 11-year high in 2006, spurred by rising food prices and rents. 'Price stability is a challenge and we are working to make sure the size of spending does not affect economic development,' Saudi Finance Minister Ebrahim Al Assaf said at a conference in Riyadh. 'We will continue our programme of investment expenditure. The main area we will look at is current expenditure'.." [more]

China's CNPC Unit Wins Contract from Saudi Basic [May 9]
"China National Petroleum Corp unit, China Huanqiu Contracting and Engineering Corp has won an engineering procurement construction (EPC) contract from Saudi Basic Industries Corp to build a high-density polythene plant in Saudi Arabia. The value of the contract is about 300 mln usd.. ..The plant is slated to be operational by 2010 with a designed annual output of 400,000 tons.." [more]

Saudi Gains for First Day in 5 as Kayan IPO Ends [May 9]
"Saudi Arabia�s main stock index snapped a four-day losing streak yesterday as cash returned to the market after the Gulf�s second-largest initial public offering ended.. ..Five of seven Gulf Arab markets closed higher, with Saudi Arabia�s benchmark, the Gulf Arab region�s worst performer this year to Monday�s close, climbing 1.04% to 7,389.48 points. Investors returned to the market after Saudi Kayan Petrochemical Co�s 6.75bn riyal ($1.80bn) IPO ended on Monday, analysts said.." [more]

Oil Markets Over-Supplied, Refineries are the Problem [May 9]
"World crude-oil markets are 'over-supplied,' and high gasoline prices are the result of few available refineries, Qatar�s deputy premier and energy minister has said. 'The problem is not the shortage of crude oil,'.. ..Asked whether the 12-member Opec should increase production to ease gasoline prices, al-Attiyah said he talks with his customers daily and they do not need more crude oil.. ..Some analysts said oil�s recent slide - its longest losing run since early September, but not its steepest - was aided by soaring metals markets, which have captured investor attention and limited any bargain-hunt buying.." [more]

Saudi to Boost Gas Reserves by 40% [May 9]
"Saudi Arabia is stepping up exploration to boost its natural gas reserves by around 40% in the next 10 years as it prepares to meet rising domestic demand, Oil Minister Ali al-Naimi said on Wednesday. 'We are planning to add in the next 10 years 100 trillion cubic feet to our current reserves of gas,'.. ..Saudi Arabia faces increasing demand for natural gas from its rapidly growing population and new petrochemical and industrial projects. Domestic gas sales were expected to rise by 40% through 2012 from the current level of around 7 billion cubic feet per day, Naimi said. The kingdom plans to drill 186 exploration wells for gas and 332 development wells by 2012.." [more]

~~~~~~~~ [ May 8 ] ~~~~~~~~~

Cheney to Follow Rice to Middle East [May 8]
"Vice President Dick Cheney is reaching out to moderate Arab leaders for help in bringing stability to Iraq , a mission that will include pleas for postwar support for minority party Sunnis. Cheney departs Tuesday on a weeklong mission to the Middle East, right after a visit to the region by Secretary of State Condoleezza Rice.. ..In particular, the senior administration official said, Cheney will appeal to King Abdullah of Saudi Arabia, King Abdullah II of Jordan and Egyptian President Hosni Mubarak to use their influence to help rein in Sunni violence against Shiites in Iraq as well as charting ways to better protect Sunnis from violence at the hands of militant Shiites.." [more]

Saudi Inflation Rate is a Challenge [May 8]
"Saudi Arabia's finance minister said on Tuesday that keeping prices stable was 'a challenge' and that the kingdom was striving to make sure that government spending would not impede economic development.. ..Rising rents and food prices, including a near 60% jump in the cost of fresh vegetables, drove Saudi Arabia's annual inflation rate to 3% in January, according to official statistics. Saudi inflation remained at 3% in February as prices for food and beverages increased.The kingdom's central bank governor, Hamad Saud al-Sayyari, said today that inflation is 'still under control' at this rate. 'The initial indication is that it is stabilising but it's too early to make any estimates'.." [more]

Dialogue is Key to Overcoming Religious Stereotypes, says Saud [May 8]
"Saudi Foreign Minister Prince Saud Al Faisal has said the historic relations between Muslims and Christians can be traced back to an era before 1450.. ..Prince Saud described the year 1450 as 'a turning point in the European-Arab communication due to the conjunction of trade routes between Central Asia and the Mediterranean including Bilad Al Sham (Syria with its present borders, Lebanon, Palestine and Jordan) and Egypt which is the heart of the world.' The Saudi foreign minister underlined the importance of removing barriers and put aside stereotypes that each party has about the other.." [more]

Saudi Forex Reserves Hit 937b Riyals [May 8]
"The Saudi Arabian Monetary Agency (Sama), the kingdom's central bank, had consolidated foreign currency reserves of 937 billion Saudi riyals in March, the highest to be recorded since oil prices began rising a few years ago.. ..Generally, governments work on building their foreign exchange reserves to guarantee the flow of their payments balance and fulfill their foreign currency overseas debts as well as accumulate hard currency to enable the economy to face any economic or financial fluctuations. In the case of Saudi Arabia, the move aims to boost the state budgets for the next five years.." [more]

GCC-EU Free Trade Talks in Final Stage [May 8]
"Negotiations on the proposed Free Trade Agreement (FTA) between the GCC and the European Union (EU) could be finalised soon, it was revealed yesterday. Visiting Austrian Foreign Minister Ursula Plassnik said she hoped an agreement could be reached at a GCC-EU conference, set to take place in Saudi Arabia today. The FTA is one of the issues the 27-member countries will discuss at the one-day event, in Riyadh, along with energy policies and regional security. German Foreign Minister Frank-Walter Steinmeier, whose country holds the rotating EU and G8 presidencies, will be among those participating.." [more]

~~~~~~~~ [ May 7 ] ~~~~~~~~~

Saudi Arabia Cuts Crude Prices to Europe, U.S. [May 7]
"Saudi Arabia has cut the price of its all its June-loading crude oil to Europe and the U.S., a trading source said on Monday. It cut prices to Europe by 20 to 70 cents a barrel, with flagship Arab Light crude set at a $4.40 discount to BWAVE, down 60 cents from the May price. Saudi Aramco cut prices to the U.S. by a wider $1.40-1.65 a barrel. Arab Light was set at a $3.10 discount to WTI, down by $1.65 from May.." [more]

GCC Leaders to Hold Consultative Summit in Riyadh [May 7]
"Leaders of the member states of the Gulf Cooperation Council will hold their ninth consultative summit in Riyadh mid-May. The meeting, to review ways of boosting joint GCC work and the latest developments in Palestine, Iraq and Lebanon as well as Iran's nuclear programme, will be chaired by King Abdullah Bin Abdul Aziz.. ..a GCC diplomatic source underlined the importance of this meeting due to the critical situation prevailing in the region. He indicated that Iran's nuclear programme would be given priority in the summit discussions.." [more]

Canadian Booth at Saudi Fair Shut Down Over Female Staffers [May 7]
"The Canadian embassy in Saudi Arabia is protesting a decision to shut down a booth at an education fair in the Saudi city of Jeddah aimed at wooing Saudi students to Canada because it was staffed by women. 'Such unprofessional incidents are very damaging to Saudi Arabia's international reputation,' the embassy said in a statement. 'Prior to the event, we specifically inquired whether women staff would be permitted at the exhibition and we were told by the organizers, the Al-Harithy Company, that they would.' According to reports in the Saudi Arabian press, members of the Commission for the Promotion of Virtue and the Prevention of Vice closed down the booth and forced three female Canadian embassy employees to leave the exhibition.." [more]

Saudi Warns Off Currency Speculators [May 7]
"Six Gulf countries aiming for monetary union by 2010 are committed to their dollar pegs, and speculators betting on rising Gulf currencies could get their fingers burnt, Saudi Arabia's central bank vice governor Muhammad Al-Jasser said.. ..Al-Jasser also said he saw no need to tighten Saudi monetary policy now and added that the country's dollar peg served the Gulf's largest economy well. Saudi Arabia is one of the six countries in the Gulf Cooperation Council (GCC) which plans a single currency by 2010. However, this deadline is in doubt. Markets have been piling pressure on Gulf 
currencies, betting that some central banks will allow their currencies to appreciate against the falling dollar.." [more]

Amnesty for Prisoners to Benefit 11,000 [May 7]
"More than 11,000 prisoners, including many Indians, are expected to benefit from an amnesty declared by King Abdullah of Saudi Arabia.. ..Jail authorities in different regions would start releasing prisoners after receiving the terms and conditions for the release, he was quoted as saying by the 'Arab News'. 'The pardon covers convicts who do not pose a danger to security and are not involved in major crimes,' Interior Minister Prince Naif said.. ..About 11,500 prisoners were released in a similar amnesty by the king last year.." [more]

Saudi Arabian to Build Fleet [May 7]
"Saudi Arabian Airlines is to buy up to 60 new aircraft, and increase its weekly flights to Dubai by 14.. ..The total of weekly flights between Saudi Arabia and Dubai will now number 44. Heavy demand among business travellers in particular is expected for the airline�s new morning flights between the two destinations. Al Molhem also confirmed that the airline is to launch a no-frills arm, as reported by Arabian Business last month.." [more]

~~~~~~~~ [ May 6 ] ~~~~~~~~~

Saudi Warns Civil War Looms [May 6]
"In the wake of the so-called �neighbours-plus� conference, Saudi Foreign Minister Saud al-Faisal in comments published yesterday said the situation in Iraq was only getting worse and that civil war could break out in the already-divided country. 'The situation in Iraq is only getting worse,' Faisal, who was considered one of the key players in the Egypt conference, told Al-Hayat newspaper. 'We fear that the situation will deteriorate into a civil war.' The conference which ended on Friday was regarded by independent observers as a disappointment.." [more]

US Replaces Naval Strike Force in Gulf [May 6]
"The US looks determined to reinforce 'gunboat diplomacy' in the Gulf by maintaining a high concentration of its naval firepower, replacing one strike group with another. The Nimitz Carrier Strike Group is set to replace the Eisenhower Carrier Strike Group which, according to the Navy, left the Fifth Fleet operations area and passed through the Suez Canal on Friday.. ..Fifth Fleet, headquartered in Bahrain, is responsible for an area encompassing about 2.5 million square miles and includes the Arabian Gulf, Red Sea, Gulf of Oman and parts of the Indian Ocean.." [more]

Saudi Opposition Calls for Interior Minister to be Tried [May 6]
"Opposition figures in Saudi Arabia have issued a public call for Interior Minister Prince Nayef Bin Abdul Aziz to face trial for suspected rights abuses. A letter sent to King Abdullah Bin Abdul Aziz late last month and made public this week accuses the prince of creating a 'culture of fear' and a 'police state' that prevents political reforms. There is almost no chance of the minister facing legal action, but the unusual call reflects growing disillusion with slow progress on promised reforms.. ..The letter accused the interior ministry of relying solely on security measures to tackle militant violence by Al Qaida sympathisers, and 'supporting a distorted religious discourse that hurts citizenship, pluralism and tolerance'. 'We ask for the issue of human rights to be opened [for debate].." [more]

The (Not So) Eagerly Modern Saudi [May 6]
"Saudi Arabia, home of Islam�s holiest sites, flush with oil revenue, and increasingly the most influential player among Arab countries, has long resisted changing its ultratraditional ways. Now the intrusions of global economics and technology have begun to challenge some traditions in ways that the country�s idealists could not. And the strain that this is causing is showing in the form of surprisingly open debate about how much Saudis really want to modernize. While the notorious religious police still roam this capital city, much is evolving in the way people live. Saudis are suddenly overwhelmed with credit card debt. Thousands have grown rich, and thousands more have lost large sums, in the stock market. Foreigners can now invest in the country�s insurance services, mining, railroads, airlines and satellite ransmission services, all once off limits. Much of this economic activity has been driven by the leaders� desire to have Saudi Arabia be more economically competitive, more a part of the modern world beyond its borders.." [more]

Manage the Crisis [May 6]
"I would not say that the recent discovery of the seven terrorist cells in Saudi Arabia came as a surprise. What has been revealed was news that was expected at any moment. This is not because of the failure of security and intelligence in confronting the �Al Qaeda� trend nor was it because of a lack of official willingness to wage a war on the �Al Qaeda� movement. The conflict between �Al Qaeda� and the Saudi government is a matter of life or death, not a partial conflict where the opponent could be bargained with or tamed in time.. ..Even though we are not surprised by the recent discovery in Saudi Arabia, this does not mean that the arrest of these cells was not a significant security achievement; however the point is that the �roots of the problem� are yet to be addressed.." [more]

Palestinians Turn Down US Peace Plan [May 6]
"Palestinians yesterday rejected a US proposal that aims to foster peace moves by setting a timetable of reciprocal security measures with Israel. The Israeli government had already rejected Washington�s plan for a 'timeline' of 'benchmark' steps that included Palestinian forces cracking down on rocket attacks and Israel easing travel restrictions. 'The American plan is rejected and we will work to make it fail by any means,' said Hamas spokesman Fawzi Barhoum. 'The American administration is concerned about the security of the Israeli occupation and offers no protection to the Palestinian people.'.." [more]

Business Continuity Keeps Saudi Companies On Track for Future Growth [May 6]
"Four of the technology industry�s leading vendors � Hitachi Data Systems, Juniper, Sun Microsystems, and Symantec � recently hit the road to undertake a unique initiative and educate Saudi�s business community on the benefits of a comprehensive business continuity strategy. Focusing on how corporations can overcome operational failures, the four technology vendors stopped in Saudi Arabia�s three main cities � Riyadh, Jeddah, and Al Khobar � to meet with decision makers and brief them on the latest strategies and technologies used to ensure business continuity, the practice of keeping your company functioning no matter the circumstances.." [more]

Citizenship for Expats in Saudi With Science Skill [May 6]
"Saudi King Abdullah has given the green light to granting citizenship to foreign residents with scientific qualifications, the interior minister was quoted by official media as saying. The king agreed to 'granting Saudi citizenship to a number of applicants who have scientific qualifications ... and who will hopefully contribute to the country�s development,'.. ..Unofficial estimates put at 1mn the number of residents potentially eligible for citizenship of the kingdom, where there are more than 6mn expatriates, mostly Asian, out of a population of 22.6mn.." [more]

1st Teacher Training Center Coming Up [May 6]
"The Kingdom's first teacher training center will open in the near future under the auspices of two international teaching accreditation organizations. The Commission on International and Trans-Regional Accreditation (CITA) and the American English Language Teacher's Association (AELTA) will oversee the opening of the training center in cooperation with the Saudi Ministry of Education. The announcement comes on the heels of a teacher's training program held at the end of April in Jeddah, in which 100 teachers from over 75 schools in the Kingdom participated. The one-day event introduced numerous up-to-date teaching techniques that are widespread in the West.." [more]

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