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Newsletter #153

March 19-25, 2006

 
In This Issue  
 

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  • What's New on SUSRIS this week - US JCS Chairman's Visit to Saudi Arabia

  • Looking Forward - Upcoming SUSRIS Items

  • Keeping Track - Recent SUSRIS Items

  • In the News -  King Abdullah: Protector by S. Rob Sobhani

  • In the News -  Ports deal irritated Arabs, envoy says

  • On the Bookshelf - The Global Oil Market: Risks and Uncertainties [Cordesman/al-Rodhan]

  • On this day -  March 25, 1975: King Faisal Assassinated

  • In the News - Supreme Economic Council approves privatization of Saudi Arabian Airlines

  • This Week's News

  • About SUSRIS

What's New On SUSRIS.org

    

   
US JCS Chairman's Visit to Saudi Arabia  

Click here for the full article."The top U.S. general met with Saudi Arabian leaders here yesterday and discussed cooperation between the United States and the kingdom.  In his first official visit as chairman of the Joint Chiefs of Staff, Marine Gen. Peter Pace praised Saudi King Abdullah for his "open and candid" discussions.  Pace arrived here from Pakistan yesterday and met with Abdullah for more than an hour. He also met with Crown Prince Sultan, who also is minister of defense and aviation; Prince Khalid, assistant minister; and Chief of the General Staff Gen. Salih Al-Muhayya. "I told each of them that I have come to listen to them and to learn about ways that we can be a good partner to them to the benefit of both our countries," Pace said during an interview.."

 

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Looking Forward -- Upcoming SUSRIS Items  

< SUSRIS Interview > 
< Dr. Rachel Bronson  - Senior Fellow and Director for Middle East Studies, Council on Foreign Relations - Author: "Thicker than Oil" (April 2006) >
< Talks about her recent visit to the Kingdom and the Jeddah Economic Forum >

 

< SUSRIS Interview > 
< Ambassador C. David Welch - Assistant Secretary of State for Near Eastern Affairs >
< US-Saudi Relations: The View from Foggy Bottom >

 

Make sure everything available from SUSRIS arrives in your email inbox.. .. link here to subscribe to SUSRIS

 
Keeping Track - Recently on SUSRIS 

Click here to read Samba's report on Saudi Arabia and the WTO.  (SUSRIS / IOI / Mar. 18, 2006) Click here to read an article about Saudi Arabian students seeking higher education in the "East."  (SUSRIS / IOI / Mar. 13, 2006) Click here to read "The Impact of the Abqaiq Attack on Saudi Energy Security?" by Khaled R. al-Rodhan.  (SUSRIS / IOI / Feb. 28, 2006) Click here to read an editorial responding to efforts to derail the Dubai Ports World dealin the U.S.  (SUSRIS / IOI / Mar. 10, 2006)
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Click here to read about President Chirac's state visit to Riyadh.  (SUSRIS / NID / Mar. 10, 2006) Click here to read "The Impact of the Abqaiq Attack on Saudi Energy Security?" by Khaled R. al-Rodhan.  (SUSRIS / IOI / Feb. 28, 2006) Click here to read about the meeting in Riyadh between Secretary Rice and Foreign Minister Saud al-Faisal ("Remarks to the Press in Riyadh")   (SUSRIS / IOI / Feb. 23, 2006) Click here to read about the terrorist attack at Abqaiq (News in Depth: Terrorist Attack at Abqaiq Oil Facility Thwarted")   (SUSRIS / NID / Feb. 25, 2006)
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Click here to read Afshin Molavi's essay ("Saudi Renaissance") on prospects for change under King Abdullah.   (SUSRIS / IOI / Feb. 14, 2006) Click here to read Prince Turki al-Faisal's interview with PBS' Charlie Rose.   (SUSRIS / IOI / Feb. 18, 2006) Click here for a wrapup on the 2006 Jeddah Economic Forum.   (SUSRIS / NID / Feb. 14, 2006) Click here to read the SUSRIS NID on King Abdullah's China trip. (SUSRIS / NID / Jan 22, 2006)

 

In the News

King Abdullah: Protector
S. Rob Sobhani

Click for complete item (HTML)"..As the rest of the Muslim world was engulfed in violence over the publication of sacrilegious cartoons of the prophet Muhammad, one country at the heart and soul of the Muslim world remained surprisingly silent. Yet that country, Saudi Arabia, is where one would have expected the most virulent and violent demonstrations, since it is the birthplace of Islam. But extremists failed to capitalize on the European press' lack of respect for the prophet of Islam. The extremists' failure to widely incite the population of Saudi Arabia is largely due to the nature of its new leader, King Abdullah. The new king is a pious and popular leader of the most significant Muslim country in the world, and he has reset the tone and tenure of political life in Saudi Arabia by emphasizing restraint and tolerance.   [Wash Times]

In the News

Ports deal irritated Arabs, envoy says

Click for complete item (HTML)The scuttling of the Dubai ports deal left a "bitter aftertaste" in the mouths of many Arabs, adding to anti-Western sentiments that date back centuries, the Saudi Arabian ambassador to the United States said Friday in Seattle.. ..The savaging of the deal "will inevitably leave a residue of uncertainty, to say the least, if not resentment," Ambassador Turki Faisal told an audience of several hundred.."  [Seattle Post Intelligencer]

On the Bookshelf

The Global Oil Market: Risks and Uncertainties
by Anthony H. Cordesman and Khalid R. al-Rodhan

Book Description (from Amazon.com)
The goal of this study is to provide a risk assessment of the global oil market. Cordesman and Al-Rodhan study six major oil-producing regions of the world: the Middle East, Africa, Asia and the Pacific, Europe and Eurasia, North America, and South and Central America. In each case, the authors outline national oil developments and focus on four major areas of risks and uncertainties: macroeconomic fluctuations, geopolitical risks, oil production uncertainties, and the nature of resources.

About the Authors
Anthony H. Cordesman holds the Arleigh A. Burke Chair in Strategy at the Center for Strategic & International Studies, Washington DC. Khalid R. Al-Rodhan is a fellow with the Burke Chair and coauthor with Cordesman of several books on energy security and military strategy, including The Changing Dynamics of Energy in the Middle East (Praeger/CSIS, forthcoming).

< more about this book >

On this Day

On this day..  March 25, 1975: King Faisal Assassinated

Click for complete item (HTML)1975: Saudi's King Faisal assassinated -- King Faisal of Saudi Arabia has died after a gun attack in Riyadh despite the efforts of doctors to save him.  The king was rushed to hospital still alive and doctors massaged his heart and gave him a blood transfusion but they were unable to save him.  King Faisal was fatally wounded when his nephew Prince Faisal Ibu Musaed allegedly fired three bullets at him with a pistol at point blank range during a royal audience.    [ BBC ]

Related: King Khaled's Reign Begins

In the News

Supreme Economic Council approves privatization of Saudi Arabian Airlines

Click for complete item (HTML) "The Supreme Economic Council (SEC) has approved the executive program to privatize Saudi Arabian Airlines, amongst other decisions taken by the SEC. Like endorsing the executive program for the expansion and upgrading of the Haj Terminal at King Abdul Aziz International Airport in Jeddah.  Saudi Arabian Airlines has already taken a series of steps for its privatization, currently, the airline is focusing on transforming non-core units including catering, ground handling services and maintenance as well as the Prince Sultan Aviation Academy in Jeddah, into commercial units and profit centers. The airline announced that to this date, it has completed one of the three phases of its privatization plan, which included studies on the airline's financial, administrative, operational and organizational aspect as well as restructuring of its administration, finance and operation.  During 2005, Saudia posted a record revenue of SR 14.6 billion, which is SR 1 billion more than the figure of 2004, and it also achieved a net profit SR 500 million.." [AACO

 

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News This Week - February 26-March 4, 2006

[For more on these stories and for more in the SUSRIS news archive CLICK HERE]

British Crown Prince Charles Starts Visit to Saudi Arabia [Mar 25]
"British Crown Prince Charles and his wife Camilla arrived in Saudi Arabia on Friday on a three-day visit. Charles is scheduled to hold talks with Saudi King Abdullah and Crown Prince Sultan bin Abdul Aziz, during which he will promote religious tolerance and understanding, according to Charles' spokesman. Charles and Camilla just wrapped up a five-day visit to Egypt before reaching Saudi Arabia.." [more]

Saudi Arabia is Planning’ to Repatriate Windfall Oil Funds [Mar 25]
"Saudi Arabia, which exported crude oil worth about $163bn last year, said it will repatriate some of its windfall invested abroad to finance petroleum, utility and other expansions.. ..Some of the kingdom’s surplus funds “will be parked temporarily abroad,’’ he said in Basel, Switzerland, where he was attending a meeting at the Bank for International Settlements.." [more]

MM Lee and 5 ministers to Visit Saudi Arabia to Boost Ties [Mar 25]
"Minister Mentor Lee Kuan Yew will lead a delegation of five ministers and businessmen to Riyadh in Saudi Arabia from Sunday to the 29th of this month. A statement from the Prime Minister's Office says Mr Lee will meet with members of the Saudi royal family, other leaders and businessmen in the Kingdom.. ..Efforts to enhance bilateral ties between Singapore and Saudi Arabia started substantially last year during Senior Minister Goh Chok Tong's visit to Riyadh last February.." [more]

Saudi Banks Set for Strong Gains [Mar 25]
"A stock market downturn could hit Saudi bank earnings this year, although first quarter results are likely to be strong, analysts and bankers say. Around 40 per cent of Saudi banks' income in 2005 came from non-interest operations, such as brokerage activity, asset management and fees from share offerings, said Philip Khoury, head of research at Cairo-based EFG-Hermes.." [more

Lawyers of Saudi Guantanamo Detainees Join the National Human Rights Association [Mar 25]
"Saudi lawyers who make up the defense team for the Saudi Guantanamo detainees have become associate members of non-governmental organization, the National Human Rights Association in Saudi Arabia.. ..the association would look at the cases of the Guantanamo detainees from two angles. The first would be from a legal angle, which would involve appointing American lawyers to defend the detainees, and the second would be from a media angle that would seek to address the American president and human rights organizations in the United States.." [more]

Abdullah, Shara Discuss Key Issues [Mar 25]
"Syrian Vice President Farouk Shara arrived here yesterday on the second leg of his trip to the region.. ..According to a Syrian source, Shara held talks with the Saudi leadership on several issues, mainly the developments in the region including the situation in Iraq and Palestine and on preparations for the upcoming Arab Summit in Khartoum" [more

Expats Begin Stock Trading [Mar 25]
"The Saudi stock market (Tadawul) will receive an unprecedented boost today when the Kingdom’s foreign residents start trading shares in the bourse directly, pumping billions into the market.. ..The Capital Market Authority (CMA) has already set out rules and regulations for the entry of expatriates in the market that include a ban on their participation in the initial public offerings (IPOs).." [more]

Educational Reforms: A Lot Can Be Learned From the Japanese [Mar 25]
"Educational reforms — the theme of the next national dialogue to be held in the northern city of Al-Jouf — can get a shot in the arm if one goes by the experience of the Japanese who stress computer and foreign-language literacy in their curricular program, besides science, mathematics and creative thinking, among other subjects.." [more]

Expats' Entry Won't Boost Market - Expert [Mar 25]
"THE go-ahead given to expatriates to trade in the stocks in the Kingdom will not help much in revitalizing the sagging stock market, according to Abdul Rahman Al-Mefreh, Secretary General of the Saudi Chapter of International Chamber of Commerce (ICC).. ..The decision of allowing expatriates to invest in the stocks would not help much as the process remains to be a psychological factor to restore confidence in the market.." [more]

Taif Focus of Tourism Expansion Study [Mar 25]
"A feasibility study will be completed within the year to develop the area between Hada and Shafa into a major tourist center in this summer resort city, 230 kilometers southeast of Jeddah. The Ministry of Municipal and Rural Affairs recently assigned Asem Arab, director of the Center for Economic and Administrative Studies in Riyadh, to conduct the study. The project is expected to attract billions of riyals in investment.." [more]

Yamani Sees ‘End of the Oil Era’ and Hydrogen Future [Mar 24]
"Sheikh Ahmad Zaki Yamani, the former Saudi oil minister, said the main source of energy in the future will be hydrogen, causing 'the end of the oil era'. The high price of oil is causing consuming nations to more rapidly develop alternative energy sources.. ..Yamani was Saudi Arabia’s oil minister from 1962 to 1986.." [more]

Forbes Arabia Set to Unveil First-Ever Listing of 50 Most Powerful Businesswomen in the Arab World [Mar 24]
"Forbes Arabia, the Dubai-based Arabic edition of the world-renowned business and financial magazine Forbes, will unveil the first-ever listing of the 50 Most Powerful Businesswomen in the Arab world later this week, in its forthcoming issue due out on March 25, 2006.. ..At the top of the list is Saudi Arabian businesswoman Lubna S. Olayan, a principal of The Olayan Group, CEO of Olayan Financing Company and non-executive director of numerous companies. A major investor in the Saudi economy, Olayan Financing is consistently ranked in the top echelon of Saudi and Gulf companies.." [more]

Prisoners Not to Stay in Jails for Over Six Months Without Trial [Mar 24]
"No prisoner in Saudi jails will be held without trial for more than six months, according to an announcement made by Maj. Gen Ali Al-Harithy, director general of prisons.. ..The National Society for Human Rights (NSHR) had earlier criticized the conditions prevailing in some Saudi prisons after visiting prisons in Riyadh, Jeddah, Makkah, Taif and Jizan. The NSHR had forwarded to the Ministry of Interior the complaints it received from some prisoners or their families about delays in hearings, being imprisoned longer than the terms of their sentences, being forced to register false confessions or being detained under tenuous suspicions.." [more]

Danish Cartoons Inspire Grassroots Saudis [Mar 24]
"The Danish cartoons of Mohammed, which sparked demonstrations and riots across the Islamic world, have inspired grassroots groups in Saudi Arabia. Members of Nusrat al-Rasool, or Victory for the Prophet, and similar organizations are learning how to gather signatures on petitions, proselytize in shopping malls and talk to non-Muslim co-workers about their faith, The Washington Post reported.." [more]

Joint Ventures, Deals in Focus at Trade Fair in Jeddah [Mar 24]
"Overseas exhibitors at Saudi Arabia's international trade fair, which ended here yesterday, said they were considering proposals for setting up joint ventures and also in the process of reaching deals worth several million riyals.." [more]

New CMA Rules Restrict Expats From IPOs [Mar 24]
"Non-Saudi residents seeking to trade in the Saudi stock market (Tadawul) would be prohibited from participating in initial public offerings (IPOs), according to the Capital Market Authority (CMA) regulations announced yesterday. Although the expected outcome of allowing non-Saudi residents to invest in the local stock exchange is generally positive, experts consider the announced regulations unclear and they say that regulations are needed to bring stability to the market especially after the recent correction.." [more]

German Training Center to Open in Jeddah [Mar 24]
"For the first time in the Kingdom, a German Institute for Technical Training in Jeddah is in the works. According to Musbah Al-Ayesh, project department manager at GTZ, a German company that specializes in training, the center will be up and running in 2008 in the northern part of the city.. ..The goal of the workshop, said the GTZ manager, is to show Saudi companies the German style of employment training.." [more]

Kingdom Plays Active Role in WHO Tuberculosis Program [Mar 24]
"Saudi Arabia will join the member nations of the World Health Organization (WHO) in observing World Tuberculosis Day today. The Health Ministry has instructed its regional health centers to carry out a program to provide information on preventive measures that could be obtained by the people who visit Kingdom hospitals and clinics.." [more]

Employment Contracts in Saudi Arabia to End at Age 60 [Mar 23]
"In a measure that could adversely affect many Indian workers, Saudi Arabia is set to implement a new labour law next month that would cancel employment contracts for men at the age of 60 and women at 55. The provision is cotained in a new Labour Law scheduled to be implemented from April 13, local media reported today. The rate of Saudisation of jobs in private companies will be raised to 75 per cent with the implementation of the new law.." [more]

Interview with Saudi Council of Senior Ulama Member Sheikh Abdullah Al Manee [Mar 23]
"Sheikh Abdullah Al Manee, a prominent Member of the Saudi Council of Senior Ulama (scholars), has called for the initiation of dialogue in Saudi Arabia to include all four schools of thought within Saudi society, as well as the various Islamic factions such as the Shia and the Sufis.. ..The following interview with Sheikh Abdullah Al Manee sheds further light on his opinions.." [more]

Haradh-3 Oil Plant Opened [Mar 23]
"Petroleum and Mineral Resources Minister Ali Al-Naimi yesterday inaugurated the Haradh-3 plant, 280 km southwest of Dhahran, which adds 300,000 barrels to Saudi Arabia’s production capacity.. ..Al-Naimi disclosed the government’s intent to maintain at least 1.5 million barrels a day of spare production capacity to guarantee its role as trustworthy supplier to the world.." [more]

Saudi Shares Down 3.18% [Mar 23]
"Saudi stocks plunged another 3.18% on Wednesday, as investors ignored government moves to restore confidence in the bourse by selling off shares across all sectors.." [more]

Lufthansa and SWISS Launch Joint Operations in Saudi [Mar 23]
"Lufthansa German Airlines and Swiss International Air Lines (SWISS) have announced joint operations.. ..With this announcement, Lufthansa and SWISS customers in the Kingdom can now enjoy greater benefits from the ever-closer collaboration between the two airline partners.." [more]

Saudi May Expand 2 Refineries [Mar 23]
"Saudi Arabia, which is set to build two major export-oriented refineries, may also expand two of its existing plants by 100,000 barrels per day (bpd) each, a senior Saudi Aramco executive said. The new expansion projects would take Saudi Arabia's refining capacity growth to 1 million bpd by the end of the decade, a rise of nearly 50 percent.." [more]

Crude Falls Near $62 a Barrel on Speculation Over U.S. Supplies [Mar 22]
"Crude oil fell near $62 a barrel in New York on speculation a U.S. Energy Department report will show crude stockpiles increased last week, easing concern about supply as the summer driving season approaches. Crude stockpiles probably rose by 2.8 million barrels last week to the highest level since April 1999.." [more]

SEC Approves Privatization of Saudia [Mar 22]
"Saudi Arabia’s strategic privatization program received a shot in the arm yesterday with the Supreme Economic Council (SEC) approving the executive program to privatize Saudi Arabian Airlines. The SEC, an apex decision-making body chaired by Custodian of the Two Holy Mosques King Abdullah, also approved the principles regulating the private sector’s participation in water and sewage projects.." [more]

Funds Set Aside for Military’s Modernization [Mar 22]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, announced yesterday that a separate budget had been set aside to develop all the four sectors of the armed forces.. ..The new budget allocation comes as part of the government’s efforts to strengthen the armed forces, which lacked modernization measures during the past six years.." [more]

King Abdullah Meets With Joint Chiefs Chairman [Mar 22]
"Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz met with Chairman of the Joint Chiefs of Staff Gen. Peter Pace and his delegation in Riyadh today. They reviewed various aspects of Saudi-US cooperation.." [more]

Saudi Arabia's First Film Blazes Taboo-Breaking Trail [Mar 21]
"A trailblazing Saudi film featuring the country's first silver screen actress will be shown this summer everywhere in the Middle East - except the ultra-conservative kingdom where cinemas are banned.. ..The movie is a comedy-drama which its makers say embodies the tension between moderates and religious extremists and the struggle, especially among the young, to embrace globalisation while retaining cherished Islamic values.." [more]

Saudi Arabia: Economists Forecast Over $ 2.6 billion Expatriate Investment in Stock Market [Mar 21]
".. with the announcement that Saudi Arabia will allow foreign residents to buy shares directly from the local exchange for the first time, Experts have told Asharq al Awsat that expatriates would invest more than $ 2.6 billion. The decision would also reduce the amount of remittances foreign transferred out of the Kingdom, believed to be $17.3 billion.." [more]

Saudi Publishing Firm $295m IPO [Mar 21]
"The Saudi Research & Marketing Group is is looking to raise approximately $295m through a float of 30% of its capital in initial public offering, reported Arab News. It will offer 4.8m shares at $61.34 per share. The IPO will open on 8 April and close on 17 April. Samba Financial group is manager and adviser.." [more]

Saudi Arabia Studies 400 New Investment Opportunities [Mar 21]
"Saudi Arabian General Investment Authority (SAGIA) is now conducting a comprehensive survey of about 400 new investment opportunities across the Kingdom.. ..According to Walid ibn Saleh Al-Yahya, director of the marketing section at the organization, the survey is being conducted with the cooperation of government departments and regional governorates.." [more]

Prince Alwaleed Bin Talal Honoured for Humanitarian Contribution to Islam [Mar 21]
"His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz Al Saud, CEO of Saudi Arabia's Kingdom Holding Company, was honoured with the coveted Life & Continuing Contribution Award for his outstanding humanitarian contribution to Islam.." [more]

Saudi Arabia: Two More Economic Cities May Be Built [Mar 21]
"The King Abdullah Economic City (KAEC) in Rabigh, which was launched by King Abdullah in December last year, is designed to accommodate investment projects worth SR100 billion. According to Arab News, a feasibility study is being done on establishing two more economic cities - one in Jeddah and the other in the Eastern Province, disclosed Muhammad Alabbar, chairman of Emaar Properties.." [more]

Saudi Allows Share Split [Mar 21]
"Saudi Arabia will allow listed firms to split their shares five for one to make them more affordable and help pull the market out of a steep decline.. ..The finance ministry announced it was considering a share split after a sharp correction slashed market capitalisation by almost a third in just two weeks. Turnover has fallen to a fraction of pre-correction levels. The CMA said the proposed share split would be submitted to King Abdullah for approval. Analysts and business leaders said the decision could be enacted within days.." [more]

US Keen on Partnership for Women Empowerment: Walsh [Mar 21]
"The United States is interested in building bridges of communication and partnership with Saudi women to help them achieve their objectives, according to an official from the Department of State.. ..Erin Walsh, senior adviser at the Bureau of Near Eastern Affairs, said that she has been meeting with people in charity agencies, private schools and other organizations and talking about different areas for collaborative work.." [more]

Fischer Ends Visit With Shoura Meeting [Mar 21]
"Austrian President Heinz Fischer left the Kingdom yesterday after completing a three-day official visit to the country.. ..Fischer said Saudi Arabia and Austria enjoyed good relations in several areas. He thanked Custodian of the Two Holy Mosques King Abdullah for the Kingdom’s “warm hospitality” during his visit. Fischer said himself being a parliamentarian in the past he had always wanted to visit the Shoura Council and look at its activities.." [more]

7,000 Saudi Students Interviewed for US Visa [Mar 20]
"US Ambassador James C. Oberwetter has said the business relationship between the Kingdom and the US is getting stronger.. ..He said there was a growing interest among Saudis to visit the US for education and business. Some 7,000 Saudi students have been interviewed by the US mission for studies in American colleges. Last year, he said the number of Saudi applicants for US visas increased from 16,000 to 26,000.." [more]

Mitsui Wins $856m Saudi Order [Mar 20]
"Mitsui Engineering & Shipbuilding Company said it had won an order to build two chemical plants for around 100 billion yen ($856 million) for a large petrochemical project in Saudi Arabia. The company will design and build a plant to produce 600,000 tonnes a year of mono ethylene glycol, used to make plastics.." [more]


Just What are the True Levels of Oil Reserves? [Mar 20]
"In a growing debate over data transparency some increasingly searching questions are being asked by energy industry analysts about the true level of world oil reserves and whether official and company statistics really stack up.. ..In 1988, Saudi Arabia issued a revised reserve figure adding 88 billion barrels.." [more]

GCC Investment Strategy and Sectors Outlook for 2006 [Mar 20]
"Liquidity levels in GCC economies are rising fast on the back of high oil prices,. This is also accompanied by rising economic growth, rising government surpluses and increased investments in infrastructure development in the GCC countries. The main beneficiaries of this are the listed companies and family owned business groups who benefit from the trickle down effect leading to strong corporate earnings growth.." [more]

King Abdullah: Protector [Mar 20]
"As the rest of the Muslim world was engulfed in violence over the publication of sacrilegious cartoons of the prophet Muhammad, one country at the heart and soul of the Muslim world remained surprisingly silent. Yet that country, Saudi Arabia, is where one would have expected the most virulent and violent demonstrations, since it is the birthplace of Islam. But extremists failed to capitalize on the European press' lack of respect for the prophet of Islam. The extremists' failure to widely incite the population of Saudi Arabia is largely due to the nature of its new leader, King Abdullah.." [more]

Yamani, Goff Set to Discuss Cooperation - KSA  [Mar 20]
"Dr. Hashim Abdullah Yamani, minister of commerce & industry, will co-chair the joint ministerial commission meeting with the visiting New Zealand Minister of Trade and Defense Phil Goff here today.. ..The two sides are to review the growing trade relations and discuss the scope for improved cooperation in new areas to be identified, he said. Riyadh, he said, was an "important partner for New Zealand in the Middle East and our trade relationship is very strong.." [more]

JCCI Meets to Expedite Hiring of Women in Lingerie Shops  [Mar 20]
"AS the deadline for hiring saleswomen in lingerie shops nears, businessmen and women organized a seminar to expedite the matter. A decree was issued a year ago asking all women-exclusive showrooms to replace salesmen with women by the end of June 2006. It s been almost a year now when the Cabinet issued Decree Number 120, but it has not yet been applied.. ..According to Abdulaziz Al-Hazza, from the development fund, the decree has many aspects that need deliberations.." [more]

Five Terror Suspects Arrested [Mar 20]
"Several terror suspects were arrested in security raids here Saturday. Major General Mansoor Al-Turki, the official spokesperson for the Ministry of Interior, told Okaz Arabic daily that those arrested in the raids were not on the wanted list.." [more]

Austrian Firm to Provide HRD Consultancy [Mar 20]
"Saudi Arabia and Austria have set out a broad vision off relationship with several new cooperation proposals in the fields of politics, health, human resource development and commerce being discussed by the two sides during the visit of Austrian President Dr. Heinz Fischer. An Austrian organization has been chosen to provide consultancy to the Kingdom’s Human Resources Development Fund (HRDF), which in setting up a project called King Fahd Employment Center (KFEC).." [more]

Sumitomo Chemical, Saudi Aramco Sign Final Finance Deal for PETRORabigh Project [Mar 19]
"Saudi Aramco said it and Sumitomo Chemical Co Ltd have signed the final project financing documents for the PETRORabigh integrated refining and petrochemical complex, and have broken ground.. ..It said Japan Bank for International Cooperation (JBIC), Public Investment Fund of Saudi Arabia (PIF) and 17 other financial institutions will provide facilities totaling 5.8 Bln USD.." [more]

Saudi Arabia Says its War With al Qaeda Not Over [Mar 19]
"Saudi Arabia's interior minister said on Sunday the kingdom's war against al Qaeda was not over, even after the death of top leaders of the group's Saudi wing.. ..Prince Nayef's brief remarks came in response to a question about the damage caused to al Qaeda by the killing of five militants, including four who were on a most-wanted list of al Qaeda-linked suspects, in a clash with security forces last month.." [more]

Saudi Arabia and Austria Sign Accord [Mar 19]
"Saudi Arabia and Austria signed an agreement for avoiding dual taxing on income and capital. The agreement was signed by Saudi minister of finance Dr Ibrahim al-Assaf and on Austrian Minister of defense Guenther Platter.. ..He urged businessmen in the two countries to benefit from the agreements signed by Saudi Arabia and Austria.." [more]

Saudi Confirms More Phone Licences [Mar 19]
"Saudi Arabia has officially confirmed that new mobile and fixed-line phone licences will be granted by the end of this year. The Kingdom’s telecoms watchdog, the Communications and Information Technology Commission (CITC), last week announced the timescale for the award of the new licences.. ..When they are set in motion, the new licences will break the monopoly of Saudi Telecom (STC) on landline phone services and add a third mobile phone operator after STC and Mobily (Etisalat-Etihad).." [more]

Al-Assaf Promises Steps Against ‘Hot Money’ [Mar 19]
"Finance Minister Ibrahim Al-Assaf yesterday welcomed the proposal allowing foreign residents to invest directly in the stock market, saying it would not have any negative impact.. ..Custodian of the Two Holy Mosques King Abdullah last week asked Al-Assaf to conduct a study on the prospects of opening the Saudi bourse to foreign residents and reducing share values to boost liquidity.." [more]

Abdullah, Fischer Discuss Mideast [Mar 19]
"Custodian of the Two Holy Mosques King Abdullah and Austrian President Heinz Fischer held wide-ranging talks on bilateral and regional issues here yesterday.. ..In their talks, King Abdullah and President Fischer, whose country is the current EU president, discussed the Middle East peace process, Iran’s nuclear aspirations, the situation in Iraq, terrorism and tensions between Lebanon and Syria.." [more]

US Eyes Saudi Market for Security Devices [Mar 19]
"The United States is all set to win more Saudi markets of safety and security products, said Lisa C. Huot, leader of an American safety and security trade mission, currently visiting the Kingdom. Lisa said that Saudi Arabia had emerged as a dynamic market where individuals, corporate houses and government agencies were becoming more and more sophisticated about using security devices.." [more]

Citizen Forum on Higher Education [Mar 19]
"A cross section of the Saudi citizenry is meeting at the King Abdulaziz University Conference Center in Jeddah Sunday to discuss plans and strategies on how to further develop a higher education plan in the Kingdom that is more responsive to the global challenges. Attending the conference are selected representatives of industries (employers), university faculty members, students, parents, various officials of Saudi ministries, intellectuals, thinkers, and women s groups.." [more]

[For more on these stories and for more in the SUSRIS news archive CLICK HERE]

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