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Aerospace Workers Set to Move to Saudi Arabia [Aug 19]
"Staff at BAE Systems are expected to be offered the chance to move to Saudi Arabia after the kingdom strengthened its relationship with the UK by agreeing to replace its ageing fleet of fighter jets with 72 Eurofighter Typhoons.. ..BAE has a long tradition of links with Saudi Arabia since it first sold its Lightning jets to the kingdom in the 1960s. That was followed in 1977 by a deal which led to billions of pounds of work coming to BAE over the years. Around 5,500 people, many originally from Lancashire, currently work at BAE's base in the Saudi capital Riyadh.." [more]

Saudi Housing Shortage [Aug 19]
"A survey by the Riyadh Chamber of Commerce has revealed that Saudi Arabia's population is set to cross 26m by 2010 and population growth in some areas is outstripping the construction of housing units.. ..New housing development in Baha, Hail, Al-Jouf and Jizan is below the annual population growth rate of 2.5%. Many of these areas have been earmarked for new low lost housing initiatives.." [more]

Saudi Banks Lost 80,000 Investors [Aug 19]
"Banks in Saudi Arabia have lost more than 80,000 investors in domestic stocks investment funds as of the end of last June, according to a recent report released by the Saudi Arabian Monetary Agency (SAMA) data collection department. The report said that funds' assets valuations dropped by about 21 per cent reaching SR109.2 billion compared to SR138.0 billion (-28.8 billion) in corresponding period last year.." [more]

Arab Bourses Firm on Truce, Fundamentals [Aug 19]
"Arab stocks extended gains last week, buoyed by the cessation of hostilities in Lebanon, and financial experts said yesterday they expected markets to show volatility in the coming couple of weeks pending new clues as to the performance of listed firms.. ..Saudi shares moved within a limited range this week and investors appeared in a cautious mood, waiting to hear 'encouraging corporate news that may reflect positively on future profits'.." [more]

The Real 'New Middle East' [Aug 19]
"Last month, as images of war and carnage in Lebanon filled Arab airwaves, more than 10 million Saudis joined together for a common goal. A massive political protest? No. A petition calling for an end to the fighting? Not that either. A boycott of American goods? No. So, what did 10 million Saudis -- more than half the adult population -- do? They bought stock. For 10 days Saudis rushed feverishly for a piece of the kingdom's most ambitious development project ever: a $27 billion city that will create a seaport, an industrial district, a financial center, an education and health-care zone, resorts, and a residential area.." [more]

King Abdullah bin AbdulAziz Launches Knowledge Economic City [Aug 19]
"The Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz launched the Knowledge Economic City (KEC) in Madinah, Saudi Arabia yesterday. The project is the first of its kind and the third economic city in Saudi Arabia to be initiated by the Saudi Arabian General Investment Authority (SAGIA) in an aggressive bid to repatriate capital and attract value-added foreign investments. The move is part of efforts hoped to develop the Kingdom’s regions in a hi-tech manner while easing mounting pressure off the country’s three major cities’ infrastructures.." [more]

Women Likely to Outnumber Men by 2010, RCCI Study Reveals [Aug 19]
"The number of Saudi women in the Kingdom is expected to exceed that of their Saudi male counterparts by 2010 when the Saudi population is estimated to cross 26 million, according to a report by the Riyadh Chamber of Commerce and Industry. Men, who currently represent 50.1 percent of the population, will decline to represent 48.85 percent of the population (or 0.977 men for each woman) by 2010.." [more]

BAE Takes Off on Saudi Jets Deal [Aug 18]
"The Government has signed a record £10bn export agreement with Saudi Arabia for the Eurofighter Typhoon combat jet, giving the defence industry a welcome boost and lifting shares in BAE Systems 3pc. Saudi Arabia is taking up to 72 of the jets in a contract that will extend Britain's biggest export deal for the next 25 years. The agreement is part of the controversial Al Yamamah arms agreement with Riyadh, struck 20 years ago but still mired in obfuscation and allegations of corruption. The jets will replace the British-made Tornado and other planes.." [more]

BBC to Document a Royal Life in Saudi Arabia [Aug 18]
"The BBC has been given unprecedented access to make a fly-on-the-wall documentary about the Saudi royal family. The documentary will follow the daily life of a senior Saudi royal, Prince Abdul bin Moshin al Saud, a grandson of King Abdul Aziz , founder of the kingdom.. ..A documentary film following the daily affairs of Prince Abdul bin Moshin bin Saud promises to reveal much more about the daily life of the Saudi royal family in this very private kingdom than television viewers anywhere, have ever seen before.." [more]

SABIC Tops Forbes 50 Best Companies List [Aug 18]
"Forbes Arabia, the Dubai-based Arabic edition of the world-renowned business and financial magazine Forbes, will unveil its first-ever listing of the 50 best performing companies in the Arab countries next week, in its forthcoming issue scheduled to hit newsstands on Aug. 20. Twenty-two Saudi companies and 11 companies from the UAE have made the list. Companies from Qatar, Kuwait, Lebanon, Egypt and Jordon have taken the other slots.," [more]

55-Year-Old Saudi Biker Aims for the Guinness Book [Aug 18]
"Mohammed Kendasa has been all over the world, in blustery wind and blistering cold, facing challenges as he rode through countries on his motorcycle.. ..Kendasa’s life-long dream is to ride his motorcycle around the world in 12 months, breaking the 18-month record set by two Americans and registered with the Guinness Book of World Records.." [more]

Bin Humaid’s Aim Is to Instill ‘Openness’ in Shoura Council [Aug 18]
"The President of the Shoura Consultative Council Sheikh Saleh Bin Humaid said there were “no red lines” in discussing matters that related to the interest of the country or its citizens in the council.. ..Bin Humaid said the council discussed on its floor several issues of high sensitivity such as reforms in the Kingdom, combating corruption, terrorism, and protection of civil rights. He said what was important was the implementation of approved legislations the council passed.." [more]

Human Rights Body: Prisoner Release Should be Expedited [Aug 18]
"The National Society for Human Rights (NSHR) demanded speedy action by the committees entrusted with the implementation of the royal pardon to the prisoners in the Kingdom’s jails. The NSHR was also critical of the lukewarm attitude of some foreign consulates in the matter of arranging for the return of the released prisoners belonging to their respective countries.." [more]

Kingdom, Indonesia Begin Work on Refinery Project [Aug 18]
"In a major move to boost cooperation in energy sector, Saudi Arabia and Indonesia have started working on a proposal to set up a joint refinery project in Indonesia, said Salim Segaf Al-Jufrie, Indonesian ambassador, here yesterday.. ..The only Asian member of the Organization of Petroleum Exporting Countries, Indonesia has been a net importer of crude oil.." [more]

Fitch Ratings Upgrades Saudi Arabia to A+ [Aug 17]
"Fitch Ratings has today upgraded the Kingdom of Saudi Arabia's foreign currency and local currency Issuer Default ratings ("IDR") to 'A+' from 'A', and affirmed the Short-term rating at 'F1'. The Outlooks remain Stable. At the same time the agency has revised Saudi Arabia's Country Ceiling rating to 'AA-'(AA minus) from 'A'. 'The upgrade is due to strengthened external and domestic balance sheets, ongoing economic and structural reforms, reflected in an accelerating pace of private sector growth, and a reduction in domestic political risk'.." [more]

Opec Cuts Demand Growth Forecast [Aug 17]
"World oil demand will rise more slowly than previously expected in 2006, partly because of record high oil prices, the Organisation of the Petroleum Exporting Countries said yesterday. Oil demand this year will rise by 1.3 million barrels per day, 80,000 bpd less than expected a month ago.." [more]

Saudi Women Await Permission for Women-Only Recreational Halls [Aug 17]
"In response to demands to establish recreational halls for women only, officials from municipalities in Riyadh have told Asharq Al Awsat that the secretariat has not yet approved the decision to hand out licenses to set up these recreational facilities. These halls would provide for ice-skating, bowling and billiards that are widely available for men in Riyadh's districts.. ..Saudi businesswomen have underlined the need to increase licenses for recreational projects for women.." [more]

Prince Saud, German FM Urge Syria to Play Constructive Role [Aug 17]
"..Prince Saud said Middle East peace talks should be restarted and tackle the real problems. Syria must be involved in international efforts to bring peace to the region, but for this to happen, Damascus must demonstrate that it is prepared to be constructive, the German minister said. Assad’s speech sent the wrong signals and did not aim to boost the Lebanese government, he said in a reference to his decision to cancel a scheduled trip to Syria Tuesday and fly directly from Jordan to Saudi Arabia.." [more]

Business Women Get New Center at Chamber [Aug 17]
"Businesswomen in Eastern Province now have their own separate branch at the Eastern Province Chamber of Commerce and Industry (EPCCI). The branch, the first women’s business center in the region, was opened this week in Al-Khobar. The EPCCI women’s branch will serve the increasing number of Saudi businesswomen. Of the nearly 20,000 members of the EPCCI, more than 700 are for women members, who run their own businesses and enterprises.." [more]

Kingdom Sends Relief Supplies Worth SR25m to Lebanon [Aug 17]
"Interior Minister Prince Naif, who is general supervisor of the Saudi Popular Committee for the Relief of Lebanon, yesterday ordered supplies worth SR25 million to meet the needs of Lebanese people who were forced to leave their homes as a result of the Israeli military campaign.. ..According to Lebanese government estimates, more than 900,000 people have fled their homes in the month-long Israeli aggression against Lebanon.." [more]

Saudi Crown Prince Meets Chinese Mideast Envoy [Aug 16]
"Saudi Crown Prince Sultan Bin Abdul-Aziz met on Tuesday with visiting Chinese Mideast envoy Sun Bigan on bilateral ties and the current situation in Lebanon. Sun said that friendship and cooperation between China and Saudi Arabia have been developing since the establishment of their diplomatic ties in 1990, pointing to the fact that Chinese President Hu Jintao and Saudi King Abdullah bin Abdul-Aziz exchanged visits in three months earlier this year.." [more]

Sipchem to float 150 million share in IPO - KSA [Aug 16]
"Saudi International Petrochemical Company (Sipchem) said that it will float 30 percent of its 150 million shares as part of the Initial Public Offering (IPO) on September 9.. ..The general manager and head of the company's corporate and PR affairs said that Sipchem will be offering 45 million shares.." [more]

Arab Media Watch [Aug 16]
"The first relatively quiet day for Lebanon after more than a month of fighting gave writers a chance to reflect on the situation in Lebanon after the war, and what the future may hold. Following are some excerpts from the Arab media.." [more]

King Orders Emergency Shelter Plan [Aug 16]
"Custodian of the Two Holy Mosques King Abdullah instructed Interior Minister Prince Naif to adopt an emergency shelter plan for victims of natural disasters in the Kingdom. The emergency shelters will be in the Kingdom’s various regions and there will be coordination between ministries and officials in municipalities and governorates.." [more]

Saudis React to Bush Comment [Aug 15]
"Saudi Arabia today rejected remarks made four days ago by US President George Bush who said Washington was at war with 'Islamic fascists'. The Saudi Cabinet in its weekly meeting 'warned against labelling Muslims with accusations of terrorism and fascism, and disregarding the history of the Muslim culture'.." [more]

Saudi Arabia Donates Money to Support UNICEF Relief Efforts in Lebanon [Aug 15]
"Saudi Arabia donated one million U. S. dollars to support the UNICEF relief efforts in Lebanon following a UN-brokered truce took effect on Monday, the UN body said in a press release issued on Tuesday. Funds donated to UNICEF will help reinforce on-the-ground activities, it said.." [more]

Iran's FM in Saudi Arabia to Discuss Regional Issues [Aug 15]
"Iranian Foreign Minister Manouchehr Mottaki arrived in the Saudi port city of Jeddah late Monday to hold talks with senior Saudi officials. Mottaki, who is visiting Saudi Arabia on the fifth leg of a regional tour, is accompanied by a high-ranking political delegation. The Iranian minister was welcomed upon his arrival at Jeddeh's airport by Saudi officials.." [more]

Is Saudi Supply Pushing its Limit? [Aug 15]
"Saudi Arabia's epic oil reserves are a global insurance policy: always counted on, in a pinch, to ease almost any energy crisis. Or so experts used to think. But some energy analysts now warn that the fabled oil bounty no longer may be reliable — a development that, if true, would have sobering implications for the world economy. 'I'm a skeptic about myths, and one of the oil industry's greatest myths is that Saudi Arabia is the gift that just keeps on giving,' said Matthew Simmons, chairman of Simmons & Co. International, a Houston investment firm.." [more]

Arab Media Watch [Aug 15]
"Terms and conditions set for ending 'this war are not in line with international law'. Al Etihad (UAE) by Rashid Al Oraimi.. .."Is this what the US really wants? Does it need more of this...?" Al Ahram (Egypt) by Dr Mohammad Al Sayed Saeed.." [more]

Arab Refinery Output Rises by 600,000 bpd [Aug 15]
"..Saudi Arabia, the world's dominant oil supplier, accounted for the bulk of that increase as its refining output swelled from around 1.79 million bpd in 2001 to nearly 2.12 million bpd at the end of 2005. The increase pushed the Arab world's total refining capacity from around 6.86 million bpd in 2001 to 7.48 million bpd at the end of 2005.." [more]

Anti-Islam Media Bias to Be Tackled by OIC [Aug 15]
"Information ministers from the 57-member Organization of the Islamic Conference (OIC) will meet in Jeddah on Sept. 9-11 to work out a strategy to confront anti-Islamic media coverage. The ministers are expected to discuss ways and means to implement the resolutions related to information taken by the emergency Islamic summit that was held in Makkah last December.." [more]

Kingdom First to Use Typhoon Jets [Aug 15]
"Saudi Arabia will be among the first countries to use Typhoon military aircraft in the world, Prince Khaled ibn Sultan, assistant minister of defense and aviation for military affairs, announced yesterday. Addressing top military commanders and officers at King Faisal Air Base in Tabuk, he emphasized the government’s plan to strengthen the armed forces by providing them with intensive training and acquiring modern weaponry.." [more]

BMG Saudi Index Launched [Aug 15]
"BMG Financial Advisors (BMG) yesterday announced the creation of BMG Saudi Index, with investability, total return index and liquidity as its main features. BMG has invested fully in the development of this index to benefit the Saudi investment community by adopting a consistent, globally accepted methodology to calculate its index.." [more]

Red Sea IPO Oversubscribed [Aug 15]
"The Red Sea Housing Services Company’s initial public offering was oversubscribed on the second day of its public offering. A total of 213,042 applications for shares were received until noon yesterday according to the company. As of yesterday, subscribers from all parts of the Kingdom pumped an amount of SR563,355,160 into the company by purchasing nine million of its shares — 30 percent of the total shares.." [more]

BAE Set to Win 5 Bln Stg Saudi Eurofighter Contract [Aug 14]
"BAE Systems PLC is set to build 72 Eurofighter Typhoons which the British Government has sold to Saudi Arabia, in a deal thought to be worth 5 bln stg, the Times reported, without citing sources. The paper said defense secretary Des Browne is ready to sign the contract and the sale could by announced as early as Wednesday.." [more]

Saudi Relief Fleet Leaves for Lebanon [Aug 14]
"A fleet of 30 trucks left yesterday Saudi Arabia, carrying 660 tons of foodstuffs and medical supplies bond for Lebanon.. ..the Saudi Red Crescent has been coordinating with the Red Cross to facilitate the passage of the trucks carrying the Saudi relief assistance. He pointed out that the relief assistance includes 580 tons of foodstuffs and 80 tons of medical supplies.." [more]

Saudi Cleric Issues Edict Versus Housing Firm IPO [Aug 14]
"An Islamic scholar has issued an edict warning Saudis against subscribing to the initial public offering of a housing company, saying it was earning interest on bank deposits and employing too many non-Muslim executives.. ..Newspapers said yesterday the fatwa had kept people away on the first two days of the IPO in which Red Sea Housing hopes to sell 9mn existing shares, or a 30% stake, at 58 riyals each.." [more]

Lebanon UN Resolution Not Enough: Saudi FM [Aug 14]
"Saudi Foreign Minister Prince Saud al-Faisal said yesterday a UN resolution aimed at ending the bloodshed in Lebanon fell short of expectations, but said the kingdom stands by the Lebanese government which has approved it.. ..He denounced “regional exploitation of the events in Lebanon”, when asked if he thought Iran and Saudi Arabia were taking advantage of the situation.." [more]

Saudi Hospital in Beirut Treats 3,000 Patients [Aug 14]
"The Saudi Field Hospital in Beirut, which was set up soon after the latest Israeli military campaign against Lebanon, has won international applause for its humanitarian services by providing treatment to more than 3,000 Lebanese men, women and children wounded by Israeli gunfire.. ..Saudi authorities recently strengthened the hospital’s medical staff by sending an additional force of 18 physicians, 15 male nurses, 12 pharmacists, five emergency technicians, eight X-ray technicians and three lab technicians.." [more]

TNT to Invest USD 1 Million in Saudi Arabia [Aug 13]
"TNT Express, the world's leading B2B express delivery company, will invest over USD 1 million to expand its services in Saudi Arabia.. ..'Saudi Arabia is strategically located and bordered by eight countries, serving as a gateway to the Middle East. Therefore it is vital for a company wanting to develop its regional business to have a strong presence in the Kingdom,' added Al-Harazy.." [more]

Saudi Gets Tough on Cyber Crims [Aug 13]
"Saudi Arabia is preparing to bring in a tough new law in order to reduce and prevent electronic crime.. ..the draft law will be debated by the Kingdom’s Shoura Council within the next few weeks. This law will see those charged with electronic crimes to be sentenced either up to 10 years in prison, or fined SR5 million, or both.." [more]

Saudi Shares Rise 2.1pc on Speculations [Aug 13]
"Saudi shares rose 2.1 percent in mostly speculative trade yesterday, boosted by brighter prospects for a ceasefire in Lebanon and new rules easing access by regional institutions. The all-share index gained some 235 points to 11,553 points after it climbed 5.2 per cent in the previous week. Turnover reached 21.4bn riyals slightly below last week’s daily average.." [more]

Saudis Deny Human Trafficking Allegations [Aug 13]
"The Saudi government has denied a recent report released by the US Department of State ranking the kingdom as one of the largest human traffickers in the world. The report said Saudi Arabia is a hub for workers coming from south Asia, including Bangladesh, Sri Lanka and Indonesia and said, many of these workers are subject to bad working conditions including their employers holding their passports as well as physical and sexual abuse. The report also said some workers are never paid their proper salaries.." [more]

Saudi to Crack Down on Terror Financiers [Aug 13]
"Saudi Arabia has committed to crack down on groups posing as charitable organizations in the Philippines but acting as fund-raisers to bankroll terror attacks, National Security Adviser Norberto Gonzales revealed yesterday. Gonzales said Saudi authorities have also promised to cooperate closely in the efforts to identify similar groups posing as charitable organizations based in Jeddah.. ..Aside from the Philippines and Indonesia, the Saudi-based Islamic charity organization has operations in more than 20 countries in Africa, Europe, and the Middle East.." [more]

Hezbollah on the Rise Thanks to Silence of Arab Administrations [Aug 13]
"Destroying the myth of Israel’s invincibility, Hezbollah has become a nightmare for Arab regimes. The
organization’s Arab identity plays an important role in the rise of popularity of Shiite Hezbollah in the Sunni-Arab world.. ..Saudi Arabia, with a large Shiite population on its territory, has not softened its attitude towards Hezbollah despite the Israeli attacks going on for over a month.." [more]

IIRO to Contest ‘Terror’ Allegations in US Court [Aug 13]
"THE International Islamic Relief Organization (IIRO) has plans to contest a recent terrorism funding allegation by the United States in an American court.. ..Earlier this month, the US Treasury Department said it was financially incapacitating Islamic charity’s branches in the Philippines and Indonesia on charges of alleged terrorism funding. In that same statement, the Treasury Department said it was also freezing any accounts or assets belonging to Abdul Hamid Suleiman Al- Al-Mujil, executive director of the charity’s Eastern Province branch in the Kingdom.." [more]

Shoura Calls for Independent Body to Ensure Saudization [Aug 13]
"A number of Shoura Council members called for the foundation of an independent legislative body to ensure a more rapid application of Saudization related efforts.. ..Shoura Council members, Talal Bakri and Abdul Mohsen Al-Zekra, described the government’s weakness on such key Saudization efforts as stemming from improper studies conducted on these issues. They blamed ministries for not conducting better studies and taking the decisions as a matter of fact.They said the government’s reluctance to apply related decisions would slow the tempo of progress achieved in other areas.." [more]

Outrage Over Bush’s Use of ‘Fascist’ Term [Aug 13]
"US President George W. Bush’s statement that the US is at war with “Islamic fascists” will deepen anti-American and anti-Western sentiments, a cross-section of expatriates contacted by Arab News said yesterday.. ..Describing the US president’s remarks as “ill-conceived” and “inappropriate”, expatriates from Britain, India and Pakistan said some hypermarkets in Riyadh had already withdrawn American products from their shelves in response to the US’ anti-Islam campaign.." [more]

Saudi Women Form Charity Unit Under Red Crescent [Aug 13]
"After signing a petition condemning the US and UK support for Israel’s large-scale war on Lebanon, Saudi women chose not to confine their activism to words alone. So the group has become the first women contingent of the Saudi Red Crescent Society after Saleh Al-Turki, the organization’s president, accepted their proposal.." [more]

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.
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