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Saudi
Economy at Mid-Year - Samba
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"..The
economic boom in Saudi Arabia continued to gather strength,
with 2006 likely to see record oil revenues, and record
trade and budget surpluses in an overall context of 20
percent growth and low inflation. Now in its fourth year, we
still believe this boom is only beginning, with signs that
strong oil prices and revenues will last many years, a
government fiscal position that can support growth in
spending for years, and megaprojects just getting underway
that will carry high growth through 2010 and beyond.."
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Saudi-US
Relations: The Way Ahead - Turki al Faisal
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"..Saudi
Arabia talks to Iran frequently and frankly. And we exchange
views with them on every issue that can come about of
interest to both our countries. We've talked about
nuclear proliferation. We've talked about influence and
interference in Iraq. We've talked about Hezbollah.
We've talked about Gulf security. Everything that you can
think of, we've talked about. And we hope that, by
talking to them, that we'll be able to at least open their
eyes to what concerns us in the area about the possibilities
that may arise from whatever action they may take. And I
think for the United States not to talk to Iran is a
mistake. We've found, in our experience, that when we
did not talk to Iran --our relations were broken for a
period of a few years in the '90s -- we had more troubles
with each other. But since then, our relationship has
improved dramatically and beneficially for both our
countries. So we think that negotiation and talking to
people is more important than shutting the doors on them.."
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Keeping
Track - Recently
on SUSRIS |
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Saudi
Arabia Supports Oil Exchange in Dubai [Oct 13]
"A senior official at the Ministry of Petroleum and Mineral
Resources said yesterday the Kingdom strongly supports the idea of
a Dubai-based new oil exchange, especially considering the steep
rise in demand in Asia, which currently has no 'meaningful'
dedicated exchange for oil.. ..he said that Saudi Arabia does not
plan to engage in futures trading of its crude, although it would
allow its financial institutions to engage in futures trading 'in
Dubai or anywhere else'.." [more]
When
Saudis Speak, Market Listens [Oct 13]
"When Prince Turki al-Faisal, the Saudi ambassador to the
United States, told a crowd in Washington last week that his
country wants to bring down oil prices, the world should have
listened.. ..Since the prince's announcement, the kingdom has been
noticeably silent, save for saying that the volume of shipments to
Asia and Europe won't change in November - another indication that
the royal family may not support the proposed cuts.." [more]
Saudi
Arabia to Provide 4,000 [Oct 13]
"Saudi Ambassador Ali Awadh Asseri on Thursday supervised
signing of contracts between the Saudi Public Assistance for
Pakistan Earthquake Victims (SPAPEV) and three private Pakistani
companies to provide 4,000 prefabricated homes for quake victims
of Balakot. Asseri told reporters that these homes, costing $16.7
million, would be erected in the next four months. 'This is the
first phase of such Saudi assistance.'.." [more]
Over
11,000 Freed Under Amnesty in Three Months [Oct 13]
"More than 11,000 prisoners, who were being held for petty
crimes, have been released over the last three months under two
amnesties declared by Custodian of the Two Holy Mosques King
Abdullah.. ..The amnesty does not cover those held for murder,
drug trafficking, money laundering, armed robbery and
forgery.." [more]
Saudi
Arabia Announces Plans to Establish National Water Company [Oct
12]
"Saudi Arabia has announced plans to establish a national
water company to carry out water and sewage projects. The
state-owned company will take over the groundwater sector, the
distribution of drinking water and the collection and treatment of
sewage water. The decision to restructure the ground and sewage
water sector was taken by the Supreme Economic Council.. ..The new
company would float part of its shares for public subscription
through a public offering at a suitable time.." [more]
Saudis
to Assess Business Loses During Beirut War [Oct 12]
"Moves are afoot to assess the extent of losses incurred by
Saudi businessmen in Beirut during Israel's attack on Lebanon..
..Many Saudi investments in real estate, tourism, services, and
industry valued at a total of $14 billion were destroyed during
the 33-day war.." [more]
Reports
of Israel Talks Ridiculous: Sultan [Oct 12]
"Crown Prince Sultan yesterday dismissed as “ridiculous”
Israeli press reports that secret talks had taken place between
Prime Minister Ehud Olmert and senior Saudi officials. 'It is
ridiculous to think that a Saudi met with an Israeli, and even
more ridiculous to speak of a meeting with Saudi leaders'.."
[more]
Saudi
Visa Over the Internet [Oct 12]
"A government official announced yesterday that foreigners
could apply for visas to enter Saudi Arabia through the Internet.
The system was implemented over six months ago and the Foreign
Ministry has already processed more than three million visas
through the Internet. Once qualified applicants receive a
confirmation number through the Web, they can mail in their
documentation, along with the passports, to the nearest Saudi
Embassy and receive the visa within 48 hours.." [more]
International
Islamic Award for Abdullah [Oct 12]
"Custodian of the Two Holy Mosques King Abdullah has been
declared this year’s winner of the Prince Naif International
Prize for Sunnah and Islamic Studies. The higher commission for
the prize which includes a number of Islamic scholars was
unanimous in its selection of the king. King Abdullah was picked
for the prize in appreciation of his efforts in the service of
Islam and Muslims, especially the initiative he took to convene
the emergency Islamic summit in Makkah last December.." [more]
Saudi
Ambassador Calls For More US Involvement in the Peace Process [Oct
12]
"Saudi Ambassador to the US Prince Turki Al-Faisal last night
called for greater US involvement in resolving the
Palestinian-Israeli conflict. Prince Turki made the remarks in an
address to the American Task Force on Palestine Gala in
Washington, DC. He warned that there will be no lasting peace in
the Middle East without a resolution to the conflict, and stressed
that it is incumbent upon leading powers – including Saudi
Arabia and the United States – to move both Palestinians and
Israelis towards peace.." [more]
University
of Pennsylvania Professor Re-Writes History of U.S. Saudi
Relations [Oct 12]
"Robert Vitalis, associate professor of political science at
the University of Pennsylvania, rewrites U.S.-Saudi history in his
new book, "America's Kingdom: Mythmaking on the Saudi Oil
Frontier." The book is published by Stanford University
Press. Vitalis takes aim at long-held beliefs about the Arabian
American Oil Company and its role in Saudi Arabia and uses company
archives and firsthand accounts of ARAMCO employees and State
Department officials to debunk myths about America's relationship
with Saudi Arabia.." [more]
EEC
Expands KAEC Project Size [Oct 12]
"The Emaar Economic City has significantly expanded the size
of its largest-ever development in the Middle East, King Abdullah
Economic City (KAEC) in Saudi Arabia, by nearly four times to
cover an area of over 168 million sq m and unveiled a new master
plan.. ..KAEC is expected to usher into the Kingdom a new era of
economic prosperity. Saudi Arabian General Investment Authority (SAGIA),
the body responsible for inward investment to the Kingdom, is the
prime facilitator of KAEC.." [more]
Crude
Oil Prices Drop as Saudi Arabia Undercuts OPEC [Oct 11]
"The price of crude oil posted its lowest close since
February on Tuesday after Saudi Arabia's state oil company told
customers in East Asia and Europe to expect the same quantity of
oil in November as this month, undercutting OPEC's plans to reduce
output. Crude oil for November delivery slid $1.44, or 2.4
percent, to close at $58.52 a barrel on the New York Mercantile
Exchange, the lowest closing price since Feb. 16. Prices are down
25 percent from the record of $78.40 reached July 14.." [more]
Syria,
Saudi and the U.S. Embassy [Oct 11]
"According to the story published from Damascus concerning
the American embassy attack in the Syrian capital at the beginning
of September, the four instigators were trained and sent from
Saudi Arabia and were victims of fiery religious speeches.. ..the
published Syrian story is weak and has been so since the
beginning. It seems that it is merely a settling of political
accounts as Damascus is in disagreement with Riyadh.." [more]
Conference
on Saudi Vocational Education to be Supported by BAE Systems [Oct
11]
"The General Organisation for Technical Education and
Vocational Training (Gotevot) has announced that BAE Systems is to
be the major partner for the Fourth Saudi Technical Conference and
Exhibition, to be held in Riyadh 2-6 December.. ..Some 700
delegates are expected to attend, and there will be 250 different
presenters drawn from the education and vocational training
sectors in the Kingdom and from 20 countries overseas.." [more]
Citizenship
for Foreign Wives of Nationals [Oct 11]
"The Saudi Shura Council has approved a draft law to grant
Saudi citizenship to foreign women who are either married to
Saudis or are their widows. Dr Saleh Bin Abdullah Al Malek,
secretary-general of the Shura Council, said the council entrusted
the Minister of Interior to implement the decision.." [more]
Embassy
Seeks Royal Clemency for 250 Filipinos in Saudi Prisons [Oct 11]
"The Philippines is seeking royal clemency for more than 250
Filipino migrant workers who are currently languishing in
different jails and reformatory centers in Saudi Arabia, the
Philippine Embassy here said yesterday.. ..the embassy was
awaiting the reply of the Saudi government on an official request
filed earlier for the royal pardon.." [more]
Businesswomen
Frustrated Over Obstacles in Regulations [Oct 11]
"Despite repeated attempts and declarations by the relevant
ministries and organizations to open more employment and
investment opportunities for women, some of the core problems
remain. Whether it is the wakeel (male representative),
recruitment, licensing or transportation, businesswomen are
frustrated with the obstacles and contradictions in regulations
that hamper their progress.." [more]
Saudi
Keeps Asia Oil Sales Steady, Cuts Majors [Oct 10]
"Top oil exporter Saudi Arabia will keep crude supplies in
November steady to customers in Asia, trading sources said on
Tuesday, a day after the kingdom cut shipments to global oil
majors. State oil firm Saudi Aramco told its biggest customers on
Monday it would lower November supplies by about 5 percent from
this month, signalling its intent to join an OPEC-wide supply
reduction. The kingdom appears to have spared refiners in Asia,
which accounts for nearly half the kingdom’s 7 million barrels
daily in exports, from the new round of cuts.." [more]
Saudi
Arabia Goes Into Overdrive for Ramadan [Oct 10]
"Religion plays an even greater role than normal in
ultraconservative Saudi Arabia during the holy month of Ramadan,
when clerics go into overdrive providing fatwas for the devout on
every possible detail of fasting. Religion plays a central role in
everyday life in Saudi Arabia, the birthplace of Islam and home to
its holiest shrines where clerics of a puritanical school of Islam
have created what they consider to be the model Islamic
state.." [more]
Berri
Says Saudi Clout is Key to Facing Lebanon's Challenges [Oct 10]
"Lebanese Speaker Nabih Berri said on Monday Lebanon is in
dire need of Saudi Arabia's political clout to face the upcoming
challenges. Berri returned Monday to Beirut after a three-day
visit to Jeddah, where he held a meeting with King Abdullah bin
Abdel-Aziz and Deputy Premier Prince Sultan bin Abdel-Aziz.."
[more]
Saudi
Arabia Agrees 13 New Insurance Firms [Oct 10]
"Saudi Arabia approved on Monday the establishment of 13
insurance and re-insurance companies, the official SPA news agency
reported. It said the firms, approved by cabinet, would be set up
as joint stock companies. Industry experts say the kingdom's
fledgling insurance industry, worth $1 billion, is set for rapid
growth after the introduction of laws regulating local and foreign
insurance firms.." [more]
Saudi
Arabia to Sign $48 Million Deal for NSRP [Oct 10]
"Work on the $48 million North-South Railway Project (NSRP)
will start shortly after finance minister signs two contracts with
Saudi firms to prepare the ground for building railroads.. ..The
minister signed a $136.5 million contract with a consortium of
multinational companies led by the Louis Berger Group of the
United States to do the complete design and construction of NSRP.."
[more]
Hi-Tech
Daawa Programme 'A Great Success' [Oct 10]
"A Saudi charity, the Daawa foundation, established by the
sons of the late King Fahd Bin Abdul Aziz, has embarked on an
ambitious high-tech programme to spread the message of Islam in
the Western world. The experiment, which started a year ago uses
highly advanced technology to broadcast live transmission of Daawa
classes and sermons.. ..Many prominent figures who attended the
function expressed the view that the foundation could lead a real
revolution in the field of Islamic propagation if it had enough
funding.." [more]
Religious
Curricula Reformed – Report [Oct 10]
"Sources told the Arabic-language mass circulation daily,
Okaz, the Ministry of Education was preparing new Islamic
education curricula for all school classes. The sources said the
objective is to achieve moderation among the students and teachers
and encourage thinking, creativity and interpretation.. ..The new
curricula present Shariah issues without encroaching upon the
principles of the Islamic Shariah.." [more]
International
Airport to Be Built in Rabigh [Oct 10]
"An international airport will be established as part of the
King Abdullah Economic City (KAEC) in Rabigh, about 200 km north
of Jeddah.. .. it would facilitate transport of passengers and
cargo to and from KAEC, which is expected to attract investment
projects worth more than SR200 billion.." [more]
Oil
Rises After Saudi, OPEC Members Agree to Cut Production [Oct 9]
"Crude oil rose after six OPEC members, led by Saudi Arabia,
agreed to cut output by about 3.4 percent to stem a two-month
slide in prices.. ..The cut 'is quite substantial considering they
said a month ago they wouldn't be making any,' said Steven Rowles,
an analyst with CFC Seymour Ltd. in Hong Kong. 'It really comes
down to what Saudi Arabia is going to be cutting'.." [more]
Berri
Holds Talks With Saudi King [Oct 9]
"Saudi King Abdullah Bin Abdul Aziz held talks with the
visiting Lebanese Parliament Speaker Nabih Berri. Their talks
focused on the efforts being made to bring together various
factions in Lebanon to reconciliation, as well as the progress of
reconstruction.." [more]
Saudi
Initiative is Encouraging [Oct 9]
"..it is important that all Arab countries extend full
support to the Saudi initiative to gather Iraqi religious
leaders in the holy city of Makkah to denounce violence and
intra-Islamic fighting. The meeting is being held under the
auspices of the Organisation of the Islamic Conference (OIC)..
..the Saudi role is encouraging taking into account past
experiences of the kingdom in similar circumstances. For example,
the long and bloody civil war in Lebanon stopped in 1990 following
the mediation of Riyadh, which led to the signing of the historic
Taif Accord.." [more]
GCC
Security Prize Jointly Awarded to Kuwaiti, Saudi Researchers [Oct
9]
"This year's GCC prize for security studies was awarded
jointly to Kuwaiti researcher Afra'a Al-Babtain and Saudi
Professor Dr. Rashid bin Saad, said Kuwaiti panelist Brigadier Dr.
Adel Al-Ibrahim on Monday.. ..the award was granted for their
research on societal partnership and its role in boosting GCC
security out of a total of 26 submitted papers.." [more]
Court
Rejects Case Against Rajaa Al-Sanea [Oct 9]
"A lawsuit filed against Rajaa Al-Sanea, the Saudi author of
Banat Al-Riyadh (The Girls of Riyadh), was dropped by the Court of
Grievances here yesterday.. ..The Court of Grievances rejected the
lawsuit based on directives issued by Custodian of the Two Holy
Mosques King Abdullah on Muharram 6.. ..Arab News has learned that
the lawyer of the two Saudis intends to appeal yesterday’s
decision.." [more]
Iran
Warned Against Interference [Oct 9]
"Saudi Arabia and Turkey agreed to reject continued Iranian
intervention in Iraqi affairs and warned that such interference
would harm the future of the country. This was during the meeting
between Turkish Prime Minister Recep Tayyip Erdogan and Saudi King
Abdullah Bin Abdul Aziz.. ..'Saudi-Turkish talks also focused on
the Iranian nuclear issue. Both sides underlined the need for
finding a solution to the issue through diplomatic means'.."
[more]
ABCC:
First Meeting of Arab Export Club [Oct 9]
"The first of a new initiative from the Arab-British Chamber
of Commerce, the Arab-British Export Club, went off successfully
on 28 September. Organised in co-operation with the Institute of
Export, UK Trade & Investment and the West London Chamber of
Commerce, the event took the form of a seminar with briefings on
key Gulf markets and practical advice provided by a range of
experienced speakers as well as a forum for discussion and ample
networking opportunities.." [more]
OPEC
Ministers Back First Supply Cut in Two Years [Oct 8]
"OPEC oil ministers lined up on Sunday to support the removal
of 1 million barrels a day of crude from oversupplied world
markets as swiftly as possible.. ..A senior OPEC delegate said on
Thursday that leading oil exporter Saudi Arabia would shoulder the
biggest part of the burden as OPEC moves to address a 23 percent
drop in prices since July 14 and brimming fuel stocks around the
world.." [more]
Saudi
Clerics Warn Media Over Horoscopes [Oct 8]
"Powerful clerics in Saudi Arabia have warned Arab media
against publishing “forbidden” horoscopes, which are hugely
popular despite a clerical ban. 'This is astrology, which is
forbidden and is considered as a form of magic,' a committee of
senior Saudi clerics said .. ..In Saudi Arabia, clerics of a
puritanical school of Islam known as Wahhabism oversee the strict
application of their reading of Islamic Sharia law. But they are
concerned about liberal trends spreading in the Gulf Arab country
of 24 million.." [more]
Largest
Saudi Fashion Retailer Opens $352mn Initial Offering [Oct 8]
"Saudi Arabia’s biggest fashion retailer opened a $352mn
initial public offering yesterday, with analysts expecting solid
demand despite a stock market slump and questions over a balance
sheet overhaul.
Fawaz Abdulaziz Alhokair & Co operates 617 stores across the
world’s top oil exporting country, and represents nearly 60
international brands.." [more]
Saudi
Tops List as Arab Stocks Cross $1 Trillion Mark [Oct 8]
"Saudi Arabia topped the list as the market capitalisation of
Arab stock crossed the $1 trillion mark in June this year. But
experts said the market value of Arab stock markets was still low
compared to developed markets, although as a percentage of GDP it
was higher, suggesting faster integration of the regional
markets.. ..Saudi Arabia's market cap was the highest totalling
$525.0 billion from 79 listed companies.." [more]
OIC
to Convene Meeting Over Inter-sect Fighting in Iraq [Oct 8]
"Iraqi Sunni and Shia religious leaders are planning to sign
in Saudi Arabia a declaration that forbids
inter-Islamic fighting, the Organisation of the Islamic Conference
said. 'Four representatives of Sunni and Shia Muslim parties
started a preparatory meeting in Makkah... to draft the covenant,'
the OIC’s undersecretary for political affairs Izzat Mufti said.
He said that the document will be discussed during a meeting of
Iraqi religious leaders, which will take place in Makkah before
the end of Ramadan later this month.." [more]
Danish
Video Sparks Fresh Outrage [Oct 8]
"The Organization of the Islamic Conference (OIC) yesterday
said it will demand an explanation from the Danish government for
the state TV’s broadcasting of a video mocking the Prophet
Muhammad (pbuh).. ..A source at the 57-member OIC said the group
will try to 'find out the reasons behind the repeated ridiculing
of the Prophet in Denmark' and warned that the incident would have
dangerous repercussions.." [more]
Agency
Proposed to Monitor Charity Work Abroad [Oct 8]
"Efforts are under way to establish a Saudi charity
commission to regulate charitable activities abroad. The proposal
will be presented to the Shoura Council to win the consultative
body’s approval.. ..The state will have the power to monitor the
activities of all the charities and take action against people
breaking rules. The commission will follow the system being used
by the Charity Commission in the UK.." [more]
Saudi
Monarch Holds Talks with Turkish Prime Minister [Oct 8]
"A meeting was held last night between the custodian of the
Two Holy Mosques King Abdullah Bin Abdulaziz and the Turkish Prime
Minster Recep Tayyip Erdogan. Saudi News Agency stated that the
talks focused on regional and international issues with emphasis
on the Palestinian issue and the situation in Iraq.." [more]
Nothing
To Hide [Oct 8]
"As a modern Muslim woman, I fast and pray; but I refuse to
submit to the hijab or to an opaque, black shroud. On Sept. 10,
2001, I wrote a column in the Independent newspaper condemning the
Taliban for using violence to force Afghan women into the burqa.
It is happening again. In Iran, educated women who fail some sort
of veil test are being imprisoned by their oppressors. Saudi women
under their body sheets long to show themselves and share the
world equally with men.." [more]
Iran
to Appoint New Envoy to Saudi Arabia [Oct 8]
"Iran’s Foreign Ministry will soon appoint a new ambassador
to Saudi Arabia, state media reported on Sunday. Iran’s current
ambassador to Senegal Mohammad Hosseini will be appointed as the
top envoy to Riyadh, the government-owned news agency Fars quoted
an “informed source” as saying. Hosseini will replace Hossein
Sadeqi, Iran’s incumbent envoy to the Saudi kingdom.." [more]
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About
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offers objective, comprehensive news and information on the
history, breadth and depth of the US-Saudi Arabia relationship.
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