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Snapshot of the Week Past |
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Saudi
Forces Arrest 41 Suspected Militants in 8 Days
"Security forces have arrested 41 suspected
militants in a series of raids around Saudi
Arabia, since the killing of al Qaeda's top leader
in the country less than 10 days ago, a security
source said on [Aug 26]. The world's top oil
producer has been fighting a wave of al Qaeda
inspired attacks over the past two years, which
have so far killed 91 foreign nationals and Saudi
civilians.."
Saudi
Arabia Says Thwarted 'Imminent' Attacks
"Saudi Arabia authorities said they had
thwarted terrorist attacks, including one in the
capital Riyadh, during a series of coordinated
operations against Al-Qaeda suspects last week. A
raid on a Riyadh hideout of the 'deviant group' --
official terminology for Al-Qaeda -- targeted a
group preparing to carry out 'an imminent
terrorist attack in the city.. ..One-time local
Al-Qaeda chief Saleh al-Ufi was killed during a
shootout with security forces in Medina on Aug
18.."
Silence
at UN Assembly to Mourn Fahd
"President of UN General Assembly Jean Ping
has commended the Custodian of the Two Holy
Mosques King Fahd's efforts to promote world peace
and stability as well as his services for the
development and welfare of humanity. Earlier the
president asked the assembly to observe a minute
of silence and prayer in respect for the late
king. King Fahd, who ruled the Kingdom for 24
years and played a significant role in world
politics, died on Aug. 1.."
Saudi
King Orders 15-Percent Pay Increase To All
Citizens
"King Abdullah bin Abdulaziz of Saudi Arabia
[Aug 22] ordered a 15-percent pay increase for all
Saudi employees and retirees as of the holy month
of Ramadan, corresponding to October. King
Abdullah, also chairman of the higher economic
council, said the pay increase aimed at improving
living conditions and backing national economy.
The increase will not include Ministers and
executive officials.. ..King Abdullah ordered
elevation of social security maximum ceiling to
USD 7, 000, as well as allocating USD eight
billion to modernize services nationwide over the
next five years.."
Uncertain
Saudi Supplies Hold Key to China
"China's growing thirst for oil will place a
greater strain on the world's top supplier, Saudi
Arabia, at the very time doubts are being raised
about the kingdom's ability to substantially
increase production. Should output falter in Saudi
Arabia and other Middle East nations, some
analysts warn of growing tension -- or even
conflicts -- over access to diminishing resources
between China and the world's biggest oil
importers, the United States and Japan, unless
alternative sources of energy are found.."
Project
Under Way to Induce Artificial Rains Nationwide
"An SR75 million project to induce artificial
rains by injecting and seeding moisture-heavy
clouds will be launched before the end of this
year. The successful test run carried out in the
Asir province last summer encouraged the
authorities to design a national artificial rain
project to cover all regions of the Kingdom..
..The Kingdom receives only 100 millimeters of
rainfall annually, which is inadequate to meet
household, industrial and agricultural needs.
Besides its increasing reliance on desalinated
water, the rapid industrial and urban growth
together with the improved standard of living have
resulted in a sharp rise in the annual demand for
fresh water that already exceeds the Kingdom's
renewable resource by six percent.."
Pharmaceutical
Industry Faces Bleak Future Once Kingdom Joins WTO
"The pharmaceutical industry in Saudi Arabia
has seen tremendous growth in the past decade but
unless it adopts a new strategy, it could face a
bleak future once the Kingdom joins the World
Trade Organization (WTO). According to a recent
analysis by the Gulf Organization for Industrial
Consulting (GOIC), although national
pharmaceutical companies have managed to cover
some of the local medicine market demand, they
will not be able to compete with medicines from
abroad.."
Saudi
Stocks Continue to Surge
"The Saudi stock market continued to surge
[Aug 21] as the industrial stocks dominated
trading.. ..The Industrial sector index closed
272.70 points higher yesterday at 39,085.18 points
compared with an increase of 1,681.43 points on
Saturday. The Tadawul All Share Index (TASI)
closed yesterday at 14,659.87, up 68.97
points.."
Kingdom
Allows Indian, Pakistan Banks
"Saudi Arabia [Aug 22] allowed State Bank of
India and National Bank of Pakistan to open their
branches in the Kingdom.. ..Saudi Arabian Monetary
Agency (SAMA) has been instructed to coordinate
with the banks to complete necessary formalities.
The Cabinet urged the two banks to follow the
Kingdom's regulations such as the banking control
law, the companies law and the foreign investment
law.."
Public
Debt to Be Brought Down to Below SR600BN
"Saudi Arabia's public debt, which was
estimated at SR610 billion in the beginning of
2005, would be brought down to less than SR600
billion by the end of the year, Finance Minister
Ibrahim Al-Assaf said.. ..The Kingdom had to
borrow money from Saudi banks and other financial
institutions to meet huge expenditures during the
Gulf War to liberate Kuwait.."
U.S.,
Saudi Arabia Close To WTO Accession Deal - Aides
"The United States and Saudi Arabia are close
to a deal paving the way for the world's largest
oil producer to join the World Trade Organization
by the end of the year, U.S. government aides said
on [Aug 25]. U.S. trade officials have begun a
final round of consultations with Congress before
before signing a bilateral pact with the leading
member of the Organization of the Petroleum
Exporting Countries, congressional aides said..
..The chief U.S. trade negotiator argued Riyadh's
membership in the WTO would boost U.S. exports and
investment opportunities, while pushing the
kingdom toward greater openness and rule of
law.."
Polish
Honor for Abdullah
"Custodian of the Two Holy Mosques King
Abdullah has won a special award from Poland's
mass-circulation newspaper, Gazetta Wyborcza, for
his humanitarian services.. ..The daily decided to
present the annual award to the Saudi king in
appreciation of the humanitarian assistance he
extended to the Polish conjoined twins Olga and
Daria Kotacz who were separated at King Abdul Aziz
Medical City in Riyadh in January this
year.."
GOTEVOT,
GM Join Hands to Train Saudis
"General Motors (GM) and the General
Organization for Technical & Vocational
Training (GOTEVOT) have formed a strategic
partnership to start the first GM program to train
Saudi nationals in Riyadh.. ..The training program
will form the cornerstone of GM's Saudization
program, offering 18-month training courses aimed
at entry-level technicians all the way up to
complete automotive apprenticeships.."
Philippines'
Arroyo To Visit Saudi Arabia To Seek 'Affordable'
Oil Deal
"President Gloria Arroyo is to visit Saudi
Arabia on her way to New York next month to ask
whether the Philippines and other smaller
economies can secure 'affordable' oil prices..
..Arroyo will visit Saudi Arabia from Sept 11 to
12 and meet King Abdullah to take up the issue of
high oil prices before she attends the UN summit
in New York, said executive secretary Eduardo
Ermita. 'The supply of oil will be the major
subject matter. Specifically, we will be asking
for possible special consideration for more
supplies of oil especially for economies that are
different from the bigger economies of the
world,'.."
Australia
Detains Saudi Sheep Ship
"A Saudi cargo ship carrying Australian sheep
bound for Jeddah has been detained at Port
Adelaide following a court order in Australia,
Arab News has learned. The Australian Embassy
confirmed that the ship had been detained but said
that the detention had nothing to do with the
quality of the livestock.. ..the court has ordered
the detention of the Saudi ship because of
outstanding debts. Last month, it ruled that the
owners owe more than $600,000. Its crew of 69
sailors allege that they have not been paid in
months and are owed up to $450,000.."
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