Saudi-US Relations Information Service

Re-Opening Business - Panel Q and A
"..I hope we can come back to some of these political points, but the IMF did a study a couple of years ago about the effect of some of the post-September 11th changes on the U.S. economy. And this gets directly to your question. And at that point - I did a little work on this too - they estimated about - not as we've heard the dollar figures, but it's an opportunity cost, it' a long-term erosion, and the effect is that the U.S. didn't grow as fast as it could, and so the assumption is it cost us maybe around 1 percent of GDP growth, which I can't do that math that quickly in my head, but if their number is right - and it struck me at the time it might have been a little high - that's a very significant number when you're talking about a $12 trillion GDP to lose 1 percent of your growth.."

Two Kingdoms Dialogue: Friendship and Partnership
"..During the first session of this important and continuing dialogue which took place in London last year, I had stressed the value of the relations between our two countries and thought that the two Kingdoms were uniquely positioned to cooperate and play an effective role in dealing with major global issues facing us today. I specifically referred to certain religious, geographic, economic, and cultural factors enabling the two Kingdoms to acquire a certain position of influence. And notwithstanding the existence of a healthy difference and diversity, we can utilize these unique positions in a complementary manner that allows both of us to be more effective in our endeavours. It seems appropriate that in this current session, we should pause to reflect, evaluate, and reinforce what has been achieved during this past year.."


Keeping Track - Recently on SUSRIS

Sino-Saudi Arabian Trade Volume Continues to Grow [Apr 21]
"China and Saudi Arabia's trade volume has hit 2.7 billion U.S. dollars during the first two months of 2006, up 43 percent over the same period of last year, latest statistics from the Ministry of Commerce revealed. Of the total, the export volume of China was 480 million U.S. dollars, up 21 percent while that of Saudi Arabia was 2.21 billion U.S. dollars, up 49 percent.." [more]

Saudi Guantanamo Inmates to be Freed Soon [Apr 21]
"U.S. authorities are soon expected to release 120 Saudi prisoners who have been detained for years without charges at Guantanamo base in Cuba. Saudi lawyer Kateb al-Shumri, the attorney of the prisoners' families, was quoted by daily Okaz as saying Friday that he expected an imminent breakthrough in the crisis of Saudi prisoners in a political decision by Washington. Al-Shumri said a number of Saudi inmates in Guantanamo planned to file a law suit against the United States following their release.." [more]

Philippine President to Visit Saudi Arabia to Seek Lower Petroleum Prices [Apr 21]
"THE Palace announced yesterday that President Gloria Macapagal Arroyo will visit Saudi Arabia next month as world oil prices shot to a new high of $74.22 a barrel in Singapore. The visit, which was originally set for September last year, has been reset for next month, said presidential chief of staff Michael Defensor. 'We’re still finalizing the details,' Defensor said.." [more]

UNT Grad From Saudi Arabia Deserves Honor, Not Scorn [Apr 21]
"..There was a row this week, which I think may have been overblown, when it was learned that UNT would award an honorary doctorate and give distinguished alumnus recognition to a graduate who happens to be from Saudi Arabia. Adel al-Jubeir, who received a bachelor's degree in political science from the university in 1982, is the foreign policy adviser to Saudi King Abdullah.." [more]

Mideast Money Pinch [Apr 21]
"The economic rift that opened between the Middle East and U.S. after the Sept. 11, 2001, attacks has widened into a chasm. While the U.S. was once the first stop for goods and services, Middle Easterners are turning to what many see as more Arab-friendly environments in Europe and Asia.. ..A hallmark of past oil booms was that money America spends on oil and gas gets cycled back into the U.S. economy as investment and spending on U.S. goods and services.. ..But America's allure appears to be waning.." [more]

Soaring Oil Prices to Top IEF Agenda [Apr 21]
"Minister of Petroleum & Mineral Resources Ali Al-Naimi will join over 65 ministers of oil producing and consuming countries tomorrow in energy talks amid heightened worries about soaring oil prices and their impact on world economic growth. The high-profile talks to be held in Doha, called “the Seventh International Energy Forum”, will be organized by the Riyadh-based International Energy Forum Secretariat.." [more]

Saudi Women in Deluge for Lingerie Store Jobs [Apr 21]
"Some 10,000 Saudi women have applied for jobs in lingerie shops in the kingdom after the authorities decided to replace male salesmen, the kingdom's labour minister has told local media. Gazi al-Gosaibi also reiterated the government's determination to implement the decision within the stipulated time, by 18 July, the Gulf News daily reported. 'Around 10,000 Saudi women have expressed their willingness to work at lingerie shops in a number of major cities in the country'.." [more]

Suspected Al Qaeda Linked Saudi Militant Killed in Pakistan [Apr 21]
"A suspected Islamic militant killed in a shootout in northwestern Pakistan was believed to have been a close associate of Al Qaeda No. 2 leader Ayman Al-Zawahiri, two intelligence officials said Friday. The man, suspected to be a Saudi known as Abu Marwan al-Suri, died Thursday in a gunfight with security officials on the outskirts of Khar, a town near the Bajur tribal region close to the Afghan border.." [more]

Philippines Summons Saudi Arabia Ambassador Over Mass Arrests [Apr 20]
"Philippine Department of Foreign Affairs (DFA) Thursday summoned Saudi Arabia's ambassador to the Philippines after the mass arrest of 52 Filipino workers in connection with a murder case in the kingdom.. ..Although there was no diplomatic protest, Seguis emphasized the importance of respecting the rights of the Filipinos. He also reminded the envoy that Philippine consular officials must be given access to the detained Filipinos in accordance with international law.." [more]

Saudi Prince Says Iraq is in Civil War [Apr 20]
"Saudi Arabia's foreign minister says Iraq has descended into civil war, and he fears the fighting could spread to neighboring countries. 'Civil war is a war between civilians and there is already war between civilians,' Prince Saud al-Faisal said at a British-Saudi conference in Riyadh. 'The threat of break-up in Iraq is a huge problem for the countries of the region, especially if the fighting is on a sectarian basis. This type of fighting sucks in other countries'.." [more]

US Release of Guantanamo Names Not Enough: Saudi Lawyer [Apr 20]
"The Pentagon's decision to release a list of detainees at Guantanamo Bay on Cuba did not go far enough, a representative of families of Saudis held at the US camp said Thursday.. ..Saudis, numbering more than 130, made up the largest single group on the list posted Wednesday on a Pentagon website in response to a Freedom of Information Act lawsuit brought by the Associated Press.." [more]

Saudi Arabia Economic & Strategic Outlook Macroeconomic Profile [Apr 20]
"Saudi Arabia, part of the WTO !!!. This is going to have a long lasting impact on the macro-economic policies and on the changes in fundamental structure of the Saudi economy. Saudi economy has been on a roll in the last couple of years due to the oft repeated reasons of high oil prices and production levels. Saudi Arabia's nominal Gross Domestic Product (GDP) is estimated to have grown by 22.7% in 2005 to reach SR1,152.6bn (US$307.4bn) while real GDP is estimated to have grown by 6.3% to SR767.7bn (US$204.7bn). The country recorded strong fiscal surplus in the last couple of year and here the story changes.." [more]

Saudi Envoy Dispels Stereotypes [Apr 20]
"From Saudi women's rights and Middle East sectarian violence to advising President Bush on the Iraq war, Saudi Ambassador Prince Turki Al-Faisal fielded questions from a packed crowd at the Ritz-Carlton on Wednesday. Faisal, Saudi ambassador to the United States since 2005, said his aim during the "listening tour" of American cities was to dispel negative stereotypes about Saudi Arabia and its people.. ..At a luncheon hosted by the American Arab Chamber of Commerce, the Detroit Regional Chamber of Commerce and the Dearborn Chamber of Commerce, Faisal said Saudi Arabia and the United States share common goals concerning the war on terror, problems in the Middle East and the global
economy.." [more]

Saudi Bourse Fluctuations Hit Traders [Apr 20]
"The value of Saudi stock suffered losses worth more than SR1 trillion following fluctuations in the market during the past two months but regained SR448 billion, bringing the net loss to SR563 billion, experts said. According to an analysis carried by Al-Jazirah Arabic daily, the market lost SR472.3 billion by the middle of March as result of recurrent fall of the index.." [more]

Oil Prices Hit New Highs on Supply Concerns [Apr 20]
"World oil prices yesterday struck fresh historic peaks above $73 in London and close to $72 in New York. The latest surge came after the US government revealed a further drop in stockpiles of US gasoline, adding to existing tension about a possible conflict between the United States and Iran, the world’s fourth biggest producer of oil.." [more]

Mid-East Executions Are Condemned [Apr 20]
"Amnesty International has said that Iran executed 94 people in 2005, while 86 were executed in Saudi Arabia.. ..Amnesty International says the trend toward abolishing the death penalty continues to grow, with the number of countries conducting executions halving over the past two decades. The organisation's Secretary General, Irene Khan, said that as the world turned away from using the death penalty, it was a glaring anomaly that China, Saudi Arabia, Iran and the US stood out for their extreme use of this form of punishment.." [more]

Q & A with Major General Mansour Al-Turki [Apr 19]
"Major General Mansour Al-Turki talks to Asharq Al-Awsat about current security issues in the kingdom in dealing with terrorism and the media. The transcript of the interview with Al-Turki follows.." [more]

Saudi King Trying to Mediate Between India, Pak: Crown Prince [Apr 19]
"Saudi Arabia on Tuesday claimed that King Abdullah bin Abdul al-Aziz is trying to "mediate" between India and Pakistan to resolve their differences on various issues. 'King Abdullah has set in motion efforts to mediate between India and Pakistan. We hope that he will succeed in his efforts,' Saudi Crown Prince Sultan, who is also Deputy Prime Minister, told Saudi journalists in remarks carried by State-run SPA news agency.." [more]

Saudi Arabia Says Not to Oppose Iran Nuclear Weapons [Apr 19]
"Saudi Crown Prince Sultan Bin Abdul-Aziz said on Tuesday that it is not in Riyadh's interests to oppose Iran's possession of nuclear weapons while Israel has these arms. At a press conference to the Saudi press, the Crown Prince denied media reports of his country's wish to join the nuclear club, adding that it doesn't need to. He, however, hoped Iran would 'go back to its sense and avoid problems and does what is best for the country'.." [more]

SRMG IPO Four Times Oversubscribed [Apr 19]
"As many as 1.6 million people bought the shares of Saudi Research & Marketing Group (SRMG) during its initial public offering (IPO) which ended on Monday, Samba Financial Group, which managed the IPO, announced yesterday. The IPO was oversubscribed nearly four times.." [more]

Preparations Under Way for 6th National Dialogue Forum [Apr 19]
"The National Dialogue Center announced yesterday the first steps in preparations for the coming Sixth National Dialogue Forum which is entitled 'Education: Reality and Development Methods.' The forum will take place in Al-Jouf and preparatory meetings will be in Al-Jouf, Tabuk, Qasim, Hail and Madinah from May 6-14. Similar meetings will take place in the Kingdom’s other regions later.." [more]

Riyadh, Jakarta to Set Up Refinery Project in Indonesia [Apr 19]
"Dr. Alwi Shihab, a special envoy of Indonesian President Susilo Bambang Yudhoyono, said Saudi Arabia and Indonesia are working on a proposal to set up a joint refinery project in Indonesia. The project will boost cooperation between the two countries in the energy sector, he said here yesterday.." [more]

Kingdom Will Make Its Mark on WTO in 5 Years [Apr 19]
"It is not within the jurisdiction of the World Trade Organization to control the spiraling petroleum prices,
Commerce and Industry Minister Dr. Hashim Yamani said speaking at a private function in Jeddah.. ..In response to a question on the Kingdom’s influence on the WTO, the minister said that he hoped that the Kingdom would have tremendous influence on it over the next five or six years as we were now preparing a huge administrative structure that would take care of the commitments to the WTO and others.." [more]

Hamas FM Received in Saudi Arabia [Apr 18]
"Mahmoud Zahhar held talks Tuesday with Saudi Foreign Minister Prince Saud al-Faisal, the first Arab official to receive a member of Hamas government. The official Saudi Press Agency, SPA, said al-Faisal and the Palestinian Minister for Foreign Affairs 'discussed bilateral relations and exchanged views about regional and international issues of common interest.' But a source at the Saudi Foreign Ministry told United Press International that talks mainly focused on Saudi financial aid to the cash-strapped Palestinian Authority.." [more]

Saudi Arrests Over Foiled Attack [Apr 18]
"Five people have been arrested in Saudi Arabia on suspicion of involvement in a foiled attack on an oil facility in February, police say. The militants were linked to the attack on the Abqaiq compound.. ..A tape showed the men allegedly preparing the cars used in the attack. The tape and 1.5 tons of explosives were found in a warehouse outside the capital, Riyadh.." [more]

Bin Laden's Capture Should Be U.S. Priority, Saudi Envoy Says [Apr 18]
"The U.S. should intensify its hunt for Osama bin Laden because the al-Qaeda leader is inspiring and directing terrorist attacks more than four years after Sept. 11, according to Saudi Arabia's new ambassador to the U.S.. ..Saudi Arabia, the world's biggest oil exporter, is under threat from al-Qaeda, and Turki said the 'cult' has grown into a global franchise. The biggest blow to the terrorist organization would be the capture of bin Laden.." [more]

Saudi Airlines to Float 30PC [Apr 18]
"Saudi Arabian Airlines is preparing to float 30 per cent of its shares for public subscription this year, and has submitted its documents to the Capital Market Authority (CMA) for review.. ..The Supreme Economic Council (SEC) on March 21 gave a go ahead to the privatization programme of the national carrier.." [more]

U.K. Says Saudis Accused of Torture Should be Immune from Lawsuits [Apr 18]
"The British government said Monday it plans to argue that Saudi officials accused of torturing Britons should be immune from lawsuits in British civil courts. Britain will back the Saudi position in a hearing before Britain's highest court next week.. ..In October, 2004, Britain's Court of Appeal ruled that while the Saudi government is immune from prosecution, individuals who conducted torture could be sued. Britain will argue that the court erred in making that distinction.." [more]

Cisco Systems to Invest Over US $265 Million Saudi Arabia [Apr 18]
"Cisco Systems® today announced a significant investment initiative in Saudi Arabia totaling more than US $265 million (Saudi Riyal 1 billion).. ..Today's announcement was also made with the support of the Saudi Arabian General Investment Authority (SAGIA). 'This affirms SAGIA's commitment in attracting investments by leading multinational corporations such as Cisco Systems.." [more]

International Power Group to Establish Subsidiary in Saudi Arabia [Apr 18]
"International Power Group Ltd.. ..announced today that the Company has finalized all necessary procedures to establish a Saudi Arabian company to be named 'IPWG Saudi Limited'.. ..KSA's economy is one of the world's fastest growing. This fast growth has strained the Kingdom's limited drinking water resources. IPWG believes that WTE technology, with its purified drinking water by-product, is perfect solution to the Kingdom's waste disposal and drinking water needs.." [more]

OPEC Believes Oil Prices Are Too High [Apr 18]
"OPEC believes oil prices are too steep, after setting a fresh record high above $70 a barrel, and the rise is not justified by market fundamentals, a senior OPEC delegate said.. ..The delegate said there was no shortage of crude supply and that OPEC giant Saudi Arabia and other producers had pledged in the past to keep markets well supplied.." [more]

Saudi Shares Hit 8-Month Closing Low, Gulf Nervous [Apr 18]
"Saudi stocks tumbled to an eight-month closing low yesterday as a tentative rebound ran out of steam and private funds dumped shares, prompting panicky retail investors to bail out too. The main Saudi index ended 3.93% lower at 14,203.74 points, its lowest close since August 13 and more than 32% below its peak in February.." [more]

Straw Travels to Saudi Arabia [Apr 18]
"Foreign Secretary Jack Straw was traveling to Saudi Arabia Tuesday to attend a second Two Kingdoms Conference designed to improve London's relations with Riyadh. According to the Foreign Office in London, Straw will deliver a speech at the conference on Wednesday .. ..While in Riyadh, Straw was expected to hold bilateral meetings with King Abdullah bin Abdul Aziz Al Saud, Crown Prince Sultan bin Abdul Aziz Al Saud and Saudi Foreign Minister Prince Saud al Faisal bin Abdul Aziz.." [more]

Women’s Rights Focus of Media Conference in Riyadh [Apr 18]
"Attaining more rights for Saudi women was the topic of discussion at the first ever conference for media women held here on Sunday. The event, sponsored by the Riyadh-based Media Center for Women, was inaugurated by Princess Adila bint Abdullah at the Four Seasons Hotel. Princess Adila pointed out that the media should have a strategic plan of action to work for community development that would eventually lead to the Kingdom’s progress and prosperity.." [more]

More Foreign Investment to Be Allowed in Telecom [Apr 18]
"The Kingdom will be allowing more foreign businessmen to invest in the information and communications sector, especially in the field of fixed and mobile telecommunications services. The move aims at promoting healthy competition in the country.." [more]

Petrochemical Projects Worth SR23 Billion Planned [Apr 17]
"Saudi Arabia intends to establish two large petrochemical projects in the twin industrial cities of Jubail and Yanbu at a total cost of SR23 billion, Petroleum and Mineral Resources Minister Ali Al-Naimi announced yesterday. The Jubail project would be implemented in cooperation with European, Japanese and American companies, he said. 'A large part of its capital will be floated for public subscription, in coordination with the Capital Market Authority,' he added.." [more]

New Round of Dialogue to Strengthen UK-Saudi Relations [Apr 17]
"Prince Saud Al-Faisal, minister of foreign affairs, and British Foreign Secretary Jack Straw will jointly open a Saudi-British conference, entitled “Two Kingdoms Dialogue” here on Wednesday. The conference will bring together Saudi and British government officials, diplomats, social activists, leading businessmen and academics.." [more]

TASI Recovers 2.84% After Record Fall [Apr 17]
"The Saudi stock market recovered slightly yesterday after a record 8.4 percent plunge on Saturday. The Tadawul All-Share Index (TASI) edged higher by 2.84 percent or 408.27 points to close at 14,784.28. The major Industrial and Banking indexes rose 1,408.08 points to 34,265.11 and 1,230.16 points to 41,252.39, respectively. The market turnover also increased yesterday to aSR11.60 billion compared to SR8 billion on Saturday.." [more]

Pakistan, Saudi Arabia United Against Terrorism [Apr 17]
"President Pervez Musharraf has said that Pakistan and Saudi Arabia have complete consonance of views in their strategy to combat terrorism. 'Terrorists have no nationality, religion or moral values,' he said in an interview with Arabic daily Al-Madinah, published during the Saudi crown prince’s visit to Pakistan.." [more]

Stocks Tumble Record 8.4% [Apr 16]
"A wave of selling yesterday sent the Saudi stock market tumbling 8.4 percent, the steepest fall since 1998. After dropping 11.5 percent last week, the Tadawul All-Share Index (TASI) closed yesterday at 14,376.01, down 1,318.83 points from Wednesday’s closing, its lowest level since the first week of October. The market was closed on Thursday to carry out a 5-for-1 share split of industrial, cement and electricity companies.." [more]

Orphans to Get Free University Education [Apr 16]
"Custodian of the Two Holy Mosques King Abdullah has issued a royal decree providing for free higher education to orphans, including studies abroad. The latest move, which comes on the heels of a previous decree allowing Saudi families to act as guardians of orphans, represents the government’s efforts to support them, Abdulaziz Al-Johani, director-general of orphan care at the Ministry of Social Affairs, told Arab News.." [more]