|
Snapshot of the Week Past |
|
Madawi
First Woman To Run For JCCI Post
”Madawi Al-Hassoun, the first Saudi woman to run
for office, was named [Sep 17] as a candidate for
a seat on the board of directors of the Jeddah
Chamber of Commerce.. ..In an interview with Arab
News, she was asked about her chances of winning.
‘The thrill of exercising my right and running
is overwhelming,’ she commented..”
SABIC
Plans New $70bn Investments
”Saudi Arabia’s petrochemical giant Saudi
Basic Industries Corporation (SABIC) intends to
invest $70 billion within the next 15 years,
according to a high-ranking SABIC official.. ..
Addressing an industrial conference in Dubai, he
said SABIC wanted to increase its production from
43 million tons to 64 million tons within the next
three years to become the world’s largest
producer of ethylene glycol..”
OPEC
President Seeks New Quota, Backed by Saudi Arabia,
Nigeria
”The president of the Organization of Petroleum
Exporting Countries called for the group to
increase oil quotas for the sixth time in 15
months as rising oil and gasoline prices begin to
curtail growth in demand.. .. The Saudi oil
minister, Ali al-Naimi, [Sep 18] said he supports
a higher quota..”
Boeing
Announces Key Executive Appointments In Saudi
Arabia
”The Boeing Company has appointed two senior
executives in Saudi Arabia to further strengthen
its operations and partnerships in the Kingdom.
Ahmed Jazzar takes up the new position of
president, Boeing - Saudi Arabia. He will
coordinate all Boeing activities and company
strategy to pursue growth in the Kingdom..
..Michael Probasco has been appointed president of
Boeing Middle East Limited (BMEL) succeeding
Marcus Hurley..”
Tussle
Between S. Arabia And Bahrain Over ‘Bird
Laundering’
”Saudi Arabia and Bahrain are in a tussle over a
"bird laundering" operation, amid fears
of an outbreak of bird-flu. The two neighboring
Arab kingdoms, already experiencing tensions over
Bahrain's signing, last year, of a Free Trade
Agreement (FTA) with the US, have limited
bilateral trade. But Saudi Arabia accused Bahrain
of serving as a transit for quarter a million
smuggled birds from other Asian countries in just
three months..”
Saudi
Stocks Touch All-Time High
”The Saudi stocks hit all-time high as the
Tadawul All Share Index (TASI) closed [Sep 19] at
15,001.44, up 82.04 points.. ..However, some
investors said prices of most companies are
inflated and are likely to decline sharply
bringing the index back to 14,000 points..”
Business
Visa Rules Eased
”Saudi Arabia has eased business visa
regulations as part of its efforts to attract
foreign investment and win accession to the World
Trade Organization (WTO). The new law allows
owners, board chairmen and directors general of
foreign companies, as well as investors, to get
visas without an invitation. The Ministry of
Foreign Affairs has instructed its missions abroad
that they must issue all visas, especially trade
visas, within 24 hours..”
Forum
Debates Religious, Economic Issues
”A preparatory meeting for the Fifth National
Dialogue Forum was held here [Sep 20]. The Forum
itself will be held in December in Abha.. ..The
dialogues are being held under the King Abdul Aziz
National Dialogue Center, which was set up in
August 2003 in order to expand citizens’
participation in open discussions of national
issues related to the economy, society, culture
and politics..”
Saudi
Charity, Individuals Get Immunity
”The Saudi High Commission for Relief was
granted immunity yesterday from litigation in
three lawsuits stemming from the Sept. 11 attacks
on the United States. US District Judge Richard
Casey found that Interior Minister Prince Naif and
Riyadh Governor Prince Salman, president of the
High Commission, were not personally liable since
they were acting as agents of the Saudi
government. The lawsuits had made baseless charges
that the High Commission, which had played a big
role in the reconstruction of Bosnia, and the
princes had sponsored terror with Saudi funds
under their direction..”
India
Emerges as Favorite Tourist Destination for Saudis
”An increasing number of Saudis are looking
toward India as favorite tourist destinations.
Saudi tourist traffic to India increased by over
16 percent last year and was up a further six
percent in the first half of this year.. .. The
country has also emerged as a favorite destination
for honeymooners, for whom a special brochure in
Arabic was released..”
WTO
Set To Boost Foreign Direct Investment Into Saudi
Arabia
”Saudi Arabia is increasing efforts to improve
its competitive edge as it prepares to join the
World Trade Organization and open up its markets
to international competition.. ..Observers believe
that Saudi accession to the WTO will act as a
confidence boost to potential investors since it
consolidates a process and framework of economic modernization
that can be built upon in the long term. The Saudi
government has recently introduced new regulations
concerning investments in the economic, financial
and commercial areas to ease the process of
obtaining entry to the WTO..”
Bush
Waives Saudi Trafficking Sanctions
”President Bush decided [Sep 21] to waive any
financial sanctions on Saudi Arabia, Washington's
closest Arab ally in the war on terrorism, for
failing to do enough to stop the modern-day slave
trade in prostitutes, child sex workers and forced
laborers.. ..Saudi Arabia, Ecuador and Kuwait _
another U.S. ally in the Middle East _ were given
a complete pass on any sanctions, Jordan said.
Despite periodic differences, oil-rich Saudi
Arabia and the United States have a tight alliance
built on economic and military cooperation..”
|
Strategic Realism
in the Middle East and US and Arab Relations
"..Turning to America’s public diplomacy efforts in the Arab world, Prince Saud remarked that the Arab view of America is basically a healthy one under a surface of anger at a perceived double-standard in the U.S. handling of the Israeli-Palestinian conflict..
.. “They [Arabs] still remember that America is the land of self-determination, the land that dealt with the world on principle father than on the interests of its business community like the continental powers of Europe. This basic healthy background is just below the surface and can emerge if the Palestinian question is justly settled,” he said."
Bush
Waives Sanctions on Kingdom
