| |
| Saudi
Arabia Economic Update - An Economy Watch Report From Samba |
|
 "..In
our August 2005 (mid-year) report,
we noted that the economy is entering a boom cycle. The growth is
the best in the Kingdom's economic history. Developments in the
third quarter affirmed our view for 2005. Up to mid-year,
revenue spikes had been behind this boom. Now we are beginning to
witness more of the spending instances of the boom as well." [more]
| Saudi
Arabia Under Attack by Dr. James Zogby |
|
 "..Saudi
Arabia is under attack again, with critics going to new lengths to
not only portray the Kingdom as hostile to the US, but to smear
any groups and individuals who have even remote connections with
Saudis.." [more]
| US
Foreign Policy, Petroleum And The Middle East - Robert E.
Ebel |
|
 "..Saudi
Arabia currently supplies about 8% of total US demand, although by
any measure it remains the most prolific, reliable and secure
source of oil for global consumers. With the exception of the
targeted oil embargo of 1973, Saudi Arabia has been one of the
very few highly reliable producer/exporters of the past 30 years.
Its performance in providing the world with incremental supply in
time of need (eg, in the lead up to the 1991 Gulf War, during the
2002 Venezuelan strike, more recently in advance of the 2003 Gulf
conflict and as prices spiked in the past two years) is
unsurpassed.." [more]
| U.S.
Exports to Arab Countries Projected To Continue Surge in
2006 |
|
 "..
'Arab
consumers are more aware than ever about the appeal and
availability of U.S. products, and they are flush with disposable
income,' ..Saudi Arabia, the largest U.S. market among Arab
countries, is expected to buy $10.7 billion worth of goods in
2006.. ..'Trade has the potential to support the effort to spread
democracy, but it's not a given..'" [more]
| Eid
al-Fitr: Celebrating the Breaking of the Fast |
|
 "..Muslims
across the Kingdom celebrated Eid Al-Fitr yesterday with a variety
of cultural and recreational programs while imams leading Eid
prayers emphasized the need for strengthening Muslim unity.
Custodian of the Two Holy Mosques King Abdullah, Crown Prince
Sultan and senior officials took part in Eid prayers held at the
Grand Mosque in Makkah along with nearly two million faithful who
included foreign pilgrims.." [more]
| US-Saudi
Strategic Dialogue Session Set |
|
The
inaugural session of the US-Saudi Strategic Dialogue will be held
in Saudi Arabia during the upcoming visit of US Secretary of State Condoleezza Rice
to the Middle East and Asia set for November 10-21, 2005.
The dialogue, a product of the summit between President George
Bush and King, then Crown Prince, Abdullah bin Abdulaziz, at the
Western White House, Crawford,
Texas in April 2005, provides an opportunity for high level
review of strategic issues of vital importance to the two
countries. The dialogue is headed by Secretary Rice and
Saudi Foreign Minister Saud al Faisal according to the summit
joint statement. On November 3, 2005 State Department
spokesman Sean McCormack told the press that working level
meetings at later dates will follow this month's inaugural
session. He described the dialogue as "a broad-ranging
discussion about a variety of different issues: security,
advancing greater freedoms and political reform, economic issues,
regional issues." In addition to the visit to Saudi
Arabia Secretary Rice will travel to Bahrain for the "Forum
of the Future" as well as stops in Israel and the
Palestinian Territories before leading the US delegation at the
Ministerial Meeting of the Asia-Pacific Economic Cooperation
(APEC) forum in South Korea.
Secretary's Travel to the Middle East and Asia
http://www.state.gov/r/pa/prs/ps/2005/55997.htm
Joint
Statement by President Bush and Saudi Crown Prince Abdullah -
Crawford, Texas - April 25, 2005
http://www.saudi-us-relations.org/newsletter2005/saudi-relations-interest-04-25a.html
Forum
of the Future - SUSRIS NID - Dec. 17, 2004
http://www.saudi-us-relations.org/newsletter2004/saudi-relations-NID-12-17.htm
Forum of the Future
http://usinfo.state.gov/mena/Archive/2005/Oct/31-380350.html
[For
more on these stories and for more in the SUSRIS news archive CLICK
HERE]
40
Saudis Likely to Be Freed From Guantanamo Soon [Nov 6]
"Forty Saudis are to be freed from the notorious US detention
camp in Guantanamo Bay.. ..Maj. Gen. Mansour Al-Turki, a spokesman
of the Saudi Interior Ministry, said he had no information about
the release of 40 prisoners.. ..Al-Turki yesterday announced the
release of Majed Afas Radhi Al-Shammari from the US detention camp
and his arrival in the Kingdom.."
Kofi
Annan to Visit Kingdom [Nov 6]
"Custodian of the Two Holy Mosques King Abdullah will hold
talks with UN Secretary-General Kofi Annan, who will arrive in
Riyadh on [Nov 8].. ..talks would focus on the Middle East,
including regional stability, the peace process, Iraq and Syria as
well as other issues of common concern. Annan is also expected to
discuss with Saudi officials different projects being carried out
in the Kingdom by various UN agencies.."
Riyadh
Moves to Help Women Find Jobs [Nov 6]
"The Saudi government launched a new labour office to help
local women find jobs, after a decision by the Council of
Ministers.. ..The workflow in the women’s labour offices will be
similar to that in the existing office, while safeguarding
women’s privacy according to the social customs.."
Jeddah
to Undergo Massive Facelift [Nov 6]
"Jeddah is to undergo a complete beautification with a
massive facelift planned by Jeddah municipality in order to
improve the looks of the 'Bride of the Red Sea'. All of the city's
districts will go through improvements that are expected to make
them perfect.."
Sultan
to Open Tabuk College of Technology [Nov 5]
"Crown Prince Sultan, deputy premier and minister of defense
and aviation, will open the College of Technology in Tabuk.. ..The
College of Technology, which comprises of 18 buildings including
classrooms, workshops, a mosque and administrative offices, was
established at a cost of SR67 million. It can accommodate 3,000
students.."
US
Mission Sounds Caution Against Fraudulent Fax [Nov 4]
"The US Embassy has warned Saudi businessmen about a major
scam, which can result in huge financial losses if necessary
precautionary measures are not taken.. ..The embassy believes the
letter is a part of a scam to conduct fraud and identity
theft.."
Kingdom
Told to Double Oil Output [Nov 4]
"The price of oil could rise by 50 percent by 2030 if Saudi
Arabia does not further invest in oil production, the chief
economist at the International Energy Agency (IEA) warned..
..Saudi Arabia would have to almost double its current oil
production of 10 million barrels per day to meet expected demand
in 2030.."
WTO
Entry to Hit Saudi Companies [Nov 4]
"Many Saudi companies will have to either enter into
partnerships with foreign companies or merge with other companies
to avoid facing bankruptcy following the kingdom's accession to
the World Trade Organization (WTO), according to an
economist.."
Saudis
Top List of 20 Prominent Gulf Businessmen [Nov 4]
"Ten Saudis topped the list of 20 prominent Gulf businessmen
published by the French Amwal magazine recently. The magazine said
the businessmen, including company chairmen and chief executives,
play a major role in taking vital business and investment
decisions at regional and international levels. The top Saudi
businessmen in the list were: Prince Alwaleed ibn Talal, chairman
of the Kingdom Holding Company.."
Saudi
Arabia Reintegrates Gitmo Detainees [Nov 4]
"The Saudi government is adopting a unique approach to
reintegrating former Guantanamo detainees into society. Hoping to
prevent the repatriated prisoners returning to terrorist activity,
a Saudi minister has promised to sponsor the weddings of five
Saudis recently released from the U.S. holding facility Camp Delta
in Guantanamo, Cuba. Besides underwriting the men's nuptials,
Assistant Minister of Interior for Security Affairs Prince
Mohammad Bin Naif Bin Abdul Aziz will also provide the men with a
monthly salary bonus once they finish their studies.."
Hyundai
Wins $147m Saudi Arabian Order [Nov 3]
"South Korean builder, Hyundai Engineering & Construction
Co., said yesterday it had won a $147 million order to build
power-transmission lines in Saudi Arabia.."
Nation
Gets Into Festive Mode [Nov 3]
"The fasting month of Ramadan officially ended yesterday,
triggering frenetic preparations for the Eid Al-Fitr across the
Kingdom today. The celebrations will culminate with hundreds of
thousands pouring into mosques and open fields, chanting praises
of God, to offer the Eid prayers in the early hours of the
day.."
Saudi
Warden Says Abu Ali Was Treated Well [Nov 2]
"Jurors in the trial of an American student accused of
joining al-Qaida viewed a videotape Tuesday of a Saudi prison
warden who denied the defendant's claims that he was tortured
while in Saudi custody. The warden, whose name was not revealed
and whose face was obscured from the courtroom gallery, said
inmates at his prison are never beaten or even handcuffed, and are
even allowed to order takeout from restaurants because the prison
has no central kitchen.."
Oil
Revenues Boost Saudi Budget Surplus to $56 Billion [Nov 2]
"With oil prices surging, Saudi Arabia is poised to finish
the year with a 54 per cent increase in oil revenue and a budget
surplus of $55.5 billion, a Riyadh bank reported yesterday. It
will be the second straight year that the kingdom enjoys record
oil revenues. The high prices that produced this year's windfall
were driven by hurricanes and the limited spare capacity among
producers, the Samba Financial Group said.."
Saudi
Arabia Bans the Importing of All Types of Poultry [Nov 2]
"Saudi Arabia banned on Wednesday the importing of all types
of poultry into its territory in efforts to protect the kingdom
against bird flu. “The Ministry of Agriculture has decided to
ban the entrance of all types of poultry into the kingdom as a
precautionary measure to avert the entrance of the disease (the
bird flu) via air, sea or land ports of entry,” said a statement
by the ministry.."
Internet
Fraud Rises in Saudi Arabia [Nov 2]
"The Saudi Ministry of Trade and Industry has issued a
warning to Saudi citizens about a dramatic increase in cases of
Internet fraud. Asharq Al-Awsat reported that officials issued the
warning after a rise in complaints from Saudis about on-line
scams. Saudi officials attribute the increase to lack of knowledge
about e-commerce and information technology. Officials estimate
that more than two million Saudi citizens now access the Internet
on a regular basis.."
Pakistan
Asks Saudi Arabia to Let Sharif Visit London [Nov 2]
"Pakistani President Pervez Musharraf has asked Saudi Arabia
to let exiled former Prime Minister Nawaz Sharif travel to London
where his son is seriously ill.. ..If Sharif goes to London it
would be the first time he has left Saudi Arabia since he and his
extended family were sent into exile in 2000 under a deal brokered
by the Saudi royal family.."
Terror
Suspects Arrested in Madinah [Nov 2]
"Security forces arrested two militants suspected of
belonging to the Al-Qaeda network following raids in Madinah and
Zulfi on Monday. Informed sources told Arab News that both
suspects did not figure on a list of 35 most wanted terrorists
issued in June this year.."
Eid
Tomorrow [Nov 2]
"Eid Al-Fitr, marking the end of the fasting month of
Ramadan, will be celebrated in the Kingdom tomorrow, the Supreme
Judiciary Council announced.."
Madinah
Airport Pushed to the Limit [Nov 2]
"In the five years that international flights have been
landing at Prince Muhammad ibn Abdul Aziz Airport, the same
problems come up every year. Passengers complain the airport lacks
major services. Poor treatment, an absence of basic services and
overcrowding are among the complaints. Many people contend the
airport shouldn’t be receiving international flights and say an
expansion or a second airport is needed.."
Saudi
Delegation to Visit Belgium [Nov 1]
"A Saudi businessmen delegation is visiting Belgium on Nov. 8
to meet with businessmen there and attend the second Arab-Belgium
Economic Forum organized by the Luxemburg Arab-Belgium Chamber of
Commerce. Saudi Arabia is the guest of honor at the forum.."
Charity
Named for Fahd [Nov 1]
"A new charitable organization named after King Fahd has been
established.. ..There are more than 80 charitable societies and
foundations registered with the Ministry of Social Affairs. They
play a big role in helping the poor and needy and in promoting
charitable activities in the country.."
Saudi
Stock Index Gains Over 600 Points in 3 Days [Nov 1]
"Saudi stocks continued to surge for a third consecutive day
and reached new highs yesterday as the Tadawul All Share Index
(TASI) recorded over 600 points increase since Saturday..
..Petrochemical shares were soaring since Kingdom got approval to
join the World Trade Organization (WTO).."
Ban
on UAE Meat Imports Lifted [Nov 1]
"Arabia yesterday lifted a ban on meat imports from the
United Arab Emirates but insisted that imports must be from
factories approved by Saudi authorities.. ..Riyadh slapped a ban
on UAE meat imports after it discovered that “fresh” meat
being imported from the country was actually frozen meat
originally from Brazil, Australia and India.."
WTO
Will Not Change Gas Prices, Says Abdul Aziz [Oct 31]
"Saudi Arabia’s accession to the World Trade Organization
would not affect gas prices in the Kingdom, according to Prince
Abdul Aziz ibn Salman, assistant minister of petroleum and
minerals. 'The WTO agreement will not change the energy price
regime in the Kingdom in general and the price of liquid petroleum
gas in particular'.."
7
Die in Rush to Receive Zakat [Oct 31]
"Seven people died and more than 40 were injured in a
stampede in Makkah after prayers in the Grand Mosque as many
hundreds rushed to grab charity cash handouts.. ..The incident
occurred on Lailat Al-Qadr (the Night of Power) on Ramadan 27 when
a philanthropist distributed zakat money directly to the needy in
a car park some six kilometers from the mosque.."
Alwaleed
Offers $1m More for Quake Victims [Oct 31]
"Prominent Saudi businessman Prince Alwaleed ibn Talal
yesterday announced an additional donation of SR3.75 million ($1
million) for Pakistan’s quake victims. The announcement was made
as the first Saudi relief convoy of 100 containers with
foodstuffs, blankets and tents left for Pakistan.."
Police
Hunt Cop Killers [Oct 31]
"Saudi security forces have launched a manhunt for two gunmen
who killed a policeman patrolling in Makkah overnight, a security
source said.. ..The two assailants opened fire on a police patrol,
which had flagged down their car for a routine check, the source
said. He identified the slain police officer as Mohamed
Al-Zahrani, who was shot in the head.."
Saudi
Stocks Keep Upward March [Oct 31]
"The Saudi stock market continued its upward march and
reached a fresh record high yesterday on euphoria that Saudi
Arabia will join the World Trade Organization this year after
getting a nod from major trading partners over the weekend..
..many major Saudi companies, especially Saudi Basic Industries
Corp., would benefit by the WTO entry, which will enable the Saudi
petrochemical giant to enter world markets with greater
force.."
The
Road to a Stronger Saudi Industrial Base [Oct 31]
"The Saudi government continues, with conviction, in its
persistent efforts to encourage the industrial growth in the
Kingdom. In the process, several comprehensive studies and
projections have been made by government agencies designated to
analyze all pertinent data available to guide future growth in the
industrial sector.."
[For
more on these stories and for more in the SUSRIS news archive CLICK
HERE]
| About
the Saudi-US
Relations Information Service |
|
The SUSRIS
project -- an independent, private-sector information resource –
offers objective, comprehensive news and information on the
history, breadth and depth of the US-Saudi Arabia relationship.
< Read More
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