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Saudi Allegiance System a Step Toward Lasting Reform [Oct 28]
" The allegiance system that is being promoted in Saudi Arabia on instructions from the Custodian of the Two Holy Mosques King Abdullah Bin AbdulAziz reflects the general mode of the deep political reform dominating the region.. ..The importance of a new allegiance system is aimed at resizing the authority of the king to nominate a new king, as this task will be assigned to a compatible committee — a committee which has a law at its disposal and the influence of the majority of the people. The formation of this system will bring stability to the leadership and the king will not have absolute authority.." [more]

Tadawul Single Session Trading Begins Today - Saudi Arabia [Oct 28]
"The stock market is trading under new hours for the first time today. While many experts approve the decision to change trading hours from the previous two-session to a single-session now, small traders see the change as a move to push them out of the market.. ..the decision was made after noticing the unsuitability of having two sessions of trading and the effect that has on organizing work at the market in addition to being incongruent with what is followed in international markets.." [more]

SCT Seeks to Promote Riyadh as Tourism Hub [Oct 28]
"The Supreme Commission for Tourism (SCT) said yesterday that it was seeking to promote the Saudi capital as a tourist destination, rather than just a commercial place for work. 'Riyadh is the Kingdom’s largest city with a population of 4.5 million and is visited by thousands. We are looking to promote more events in Riyadh so the perception about the capital changes from being just a place for seeking work to a valuable tourist destination and recreational area'.." [more]

Assault on Gulf Oil Facilities Feared [Oct 27]
"Western naval forces said on Friday they feared possible attacks on oil installations in the Gulf, and Saudi Arabia said terrorist threats against the country’s oil facilities were ongoing. Oil installations in Saudi Arabia, the world’s top crude producer, are a “high-probability potential target” for terrorist attack, but tight security measures are in place to protect them, said the spokesman for the Saudi interior ministry, General Mansur al-Turki.'Coalition forces are taking prudent, precautionary measures and focusing maritime security operations in the Gulf on these possible threats'.." [more]

Coalition Naval Forces Move to Guard Gulf Oil Facilities [Oct 27]
"Coalition naval forces are helping to guard vital oil installations in the Gulf as part of heightened security following an Al Qaida threat last month.. ..'Acting on information received, Coalition naval forces, operating in support of Saudi and Bahraini forces have deployed units to counter a possible maritime threat to the oil facilities at Ras Tanura,' Britain's Royal Navy said in a statement.." [more]

US Ready to Help Saudi Arabia Defend Oil Facilities [Oct 27]
"The United States says it is ready to help Saudi Arabia defend its oil facilities against terrorist threats,
following a statement by the British navy asking merchant shippers to be on alert for suspicious vessels or activity in the Persian Gulf region. The U.S. Navy is supporting the recommendation.." [more]

New Saudi Law Eases Sponsorship Transfer [Oct 27]
"A new Saudi Arabian law, which comes into effect from tomorrow, eases transfer of jobs and will make it easier for companies to recruit skilled manpower as thousands of job opportunities will be created in the country. Labour Minister Ghazi Al-Gosaibi announced recently that restrictions on the transfer of sponsorship for expatriate workers would be relaxed from October 28.. ..The new rule bars recruitment of foreigners for jobs reserved for Saudis.." [more]

Saudi Local Councils Struggle to Produce Results [Oct 27]
"The local councils of Saudi Arabia elected in spring 2005, still in their formative stages, have yet to make their mark on municipal decision-making. They are caught between the promises that they made to voters during last year's elections and the reality of dealing with local governments known for deeply ingrained bureaucracy.. ..Saudi citizens have shown a good deal of interest in - and lack of satisfaction with - the performance of the local councils.." [more]

Kingdom Hotels to Invest $235m in Asia Projects [Oct 27]
"Kingdom Hotel Investments (KHI) has signed preliminary agreements to invest $235 million in hotels in Asia, a new focus region for the company headed by Saudi Arabia's Prince Al Walid Bin Talal. 'We have signed five memorandums of understanding and we will be investing $235 million in those projects'.. ..KHI is targeting Asia, the Middle East, Central and Eastern Europe and Latin America for further hotel investments.." [more]

Saudi Drag Strip Opens [Oct 27]
"..Prince Faisal Bin Saud Bin Abdul-Muhsen, chairman of the United Racing Company, officially inaugurated the Jeddah Raceway Wednesday night, saying: 'We would like to come up with Saudi champions who can represent Saudi Arabia at the international events, the Saudi Auto Sport Federation has licensed this roadway, and it is the beginning for further auto sports'.." [more]

EU’s Solana in New Push for Mideast Peace [Oct 27]
"The European Union was ready to offer help as EU foreign policy chief Javier Solana expressed concern yesterday at the absence of peace talks between Israel and the Palestinians.. ..Europe would like to see 'some movement...to give not only hope to the people, but (to) realities on the ground,' he said. 'We the Europeans are more committed than ever' to the stalled peace drive, he added.." [more]

8,500 Released From Jail Under Ramadan Amnesty [Oct 27]
"8,500 individuals jailed for minor offenses were released during Ramadan following an amnesty declared by Custodian of the Two Holy Mosques King Abdullah according to Maj. Gen. Ali Hussein Al-Harithy, director general of prisons. He emphasized the government’s desire to transform the country’s prisons into reformatories.. ..The amnesty does not include those held for murder, drug trafficking, money laundering, armed robbery and forgery.." [more]

Oil Scene [Oct 27]
"Weak fundamentals and skepticism in the market on OPEC’s ability — rather — resolve to implement the announced 1.2 million bpd output cut are issues that continue to plague the global crude markets, despite notable developments and announcements.. ..Oil markets have undergone a sea change over the last few weeks. Indicators are pointing to a significant weakening of market fundamentals. The continued OPEC output for months has finally made the market psychology to register a completely different sentiment.." [more]

Oil Shock Absorber Costs Saudi Arabia $1 Billion a Year [Oct 26]
"The cost of keeping spare oil output capacity ready to plug any gaps in global supply is costing Saudi Arabia more than $1 billion a year. After reducing output in line with an OPEC agreement to trim supplies last week, Saudi Arabia’s spare oil capacity will reach around 2.5 million barrels per day in November. The world’s largest exporter has pledged to bring that supply on line within 90 days if international supplies are threatened by a large unexpected supply outage.." [more]

Fears Resurface After Bomb Blast Near Residences of Saudi, UAE Envoys [Oct 26]
"A bomb exploded on a Beirut street early Wednesday close to the residences of the Saudi and UAE ambassadors.. ..A senior police officer said the bomb was thrown next to the residences of the Saudi and Emirati ambassadors, and that of Adi Hariri, one of the sons of the assassinated former Prime Minister Rafik Hariri. The officer did not know whether Hariri and the ambassadors were at home.." [more]

Book Authors Says ‘Sorry’ to Saudi Businessmen [Oct 26]
"Saudi businessmen Sheikh Khalid bin Mahfouz and his son Sheikh Abdulrahman bin Mahfouz have received a public apology from Jean-Charles Brisard and Guillaume Dasquié for allegations regarding support for terrorism they made in The Forbidden Truth (La Verité Intérdite).. ..“The apologies follow court proceedings brought by Sheikh Khalid and Sheikh Abdulrahman in the UK and Switzerland.." [more]

Freed Detainees Not a Threat, says Riyadh [Oct 26]
"US officials, apparently caught off guard by the Saudi government's recent release of more than two dozen former Guantanamo Bay prisoners, are voicing fears that the men will join violent extremist groups.. ..Although the men are still under investigation for possible terrorist ties, Saudi officials said they were not considered serious threats. "Throwing people in jail and letting them rot is not the answer," said Nail Al Jubier, spokesman for the Saudi Embassy in Washington.." [more]

KSA: Kingdom Seeks to Boost Trade Ties With Kazakhstan [Oct 26]
"Minister of Commerce and Industry Dr. Hashim Yamani will head a delegation to Kazakhstan from Oct. 29 to 31. The visit is part of the Kingdom's initiative to expand its trade and economic relations with the 57-member countries of the OIC (Organization of the Islamic Conference).. ..the upcoming visit is also intended to promote investment opportunities in projects in the oil, gas, petrochemical and other sectors.." [more]

Saudi Succession Move Sets Stage for Younger Rulers [Oct 26]
"Saudi Arabia's move this month to formalise the royal succession paves the way for the eventual emergence of younger rulers and aims to prevent infighting among the next generation of princes, analysts say.. ..Although the new system gives younger princes influence over the succession, diplomats say two of King Abdullah's elderly brothers - Interior Minister Prince Nayef and Riyadh governor Prince Salman - still consider themselves strong candidates to rule.." [more]

Saudi Authority Quashes Riyal Revaluation Talk [Oct 25]
"The Saudi riyal slipped against the dollar yesterday after the central bank dismissed as baseless speculation it would revalue the kingdom's currency. The riyal rose to a 5-1/2 month high.. ..'There is no intention to change the exchange rate,' Hamad Saud Al Sayyari, governor of the Saudi Arabian Monetary Agency, told yesterday's edition of Al Watan newspaper.." [more]

Saudi Youth Bored in Model Islamic State, Says Blogger [Oct 25]
"Saudi Arabia's young people are bored in a country that restricts their personal freedom, one of Saudi Arabia's popular blogger said. Saudi Arabia may be a model state for powerful clerics who oversee the strict application of the Islamic law, but it offers little choices for young people, said Ahmed Al Omran, also known as Saudi Jeans.. ..Omran blogs about political and social issues in saudijeans.blogspot.com, which is one of more than 500 blogs from Saudis.." [more]

Force Can't Solve Mideast Conflict, says ElBaradei [Oct 25]
"Conflicts like those in the Middle East 'cannot be solved through military force' the head of the UN nuclear watchdog agency said. International Atomic Energy Agency chief Mohammad ElBaradei called instead for a new global approach 'centered on the welfare of the individual and not simply focused on the security of the state'.." [more]

Opec Says Too Early to Predict December Cut [Oct 25]
"The Opec president said on Monday it was too early to decide if the group would need to cut oil production again when it meets in December, despite a drop in crude prices after cuts announced last week.. ..Analysts say a big reason for oil's drop in recent days has been market scepticism over Opec members' commitment to actually cut output under the agreement. Daukoru took issue with that, saying markets are now being driven more by fundamentals.." [more]

Four Saudi Banks Top Arab List [Oct 25]
"Four Saudi banks topped the list of top 100 Arab banks in terms of their profits in 2005. Al-Rajhi won first position with a profit of $1.5 billion, followed by National Commercial Bank $1.3 billion, Samba Financial Group $1.1 billion and Riyad Bank $757 million.." [more]

Nawaz Sharif, Family Evicted from Saudi Palace [Oct 25]
"Former Pakistan Prime Minister Mohammad Nawaz Sharif and members of his family have been evicted from the Sarwar Palace in Jeddah by the Saudi Arabian Government for violating the terms and conditions of their decade-long exile brokered with President Pervez Musharraf.. ..Nawaz Sharif left for London nine months ago on the condition that he would not take part in any politics and would soon return to Saudi Arabia. However, in defiance of the condition, he got an extension on his UK visa and is also participating in politics - a move that has irked Riyadh.." [more]

Saudi Prisoner Release Gives U.S. Pause [Oct 25]
"U.S. officials, apparently caught off guard by the Saudi government's recent release of more than two dozen former Guantanamo Bay prisoners, are voicing fears that the men will join the camp of violent extremist groups. The Saudis released the 29 men from jail for observance of Ramadan.. ..Saudi officials said that although the men were still under investigation for possible terrorist ties, they were not considered serious threats.." [more]

Saudi Riyal at 5-1/2-Month High on Revaluation Talk [Oct 24]
"The Saudi riyal hit a fresh 5-1/2-month high against the US dollar on Monday amid speculation it will be revalued over the Eid holidays.. ..Monday’s gains follow an even bigger move on Friday which saw the biggest one day rise in eight years, according to Reuters data. The currency is pegged to the dollar at 3.75. Analysts said that if it strengthens beyond 3.74 without a response from the central bank then speculation about a revaluation would gather steam.." [more]

New Saudi Succession Law Will Help Nation Achieve Overall Development [Oct 24]
"A senior Saudi prince has termed the new succession law announced by King Abdullah Bin Abdul Aziz on Friday as the perfect path to ensuring a bright future for the country.. ..In a statement issued here yesterday, Prince Talal said the new succession law guarantees the rights entitled to the grandsons of Saudi Arabia's founder. He hoped that the new rules of succession set by King Abdullah would become 'a good example for others'.." [more]

China to Export 90,000 Live Sheep to Saudi Arabia [Oct 24]
"The 90,000 live sheep China is to export to Saudi Arabia are undergoing checks at quarantine and will be transported to Saudi Arabia at the end of October.. ..Saudi Arabia is the biggest market for live cattle and sheep in the Middle East. It imports nearly six million sheep for slaughter every year. Saudi Arabia's lifting of the ban will have a positive effect on Middle Eastern countries.." [more]

Hundreds of Saudi Students Eye New Zealand [Oct 24]
"Hundreds of Saudi Arabian students, some accompanied by chaperones, are set to come to New Zealand on scholarships funded by their government. "This is the first time we will ever have so many students from one country that a government has sponsored," Victoria University pro vice-chancellor (international) Roberto Rabel said.. ..The scholarships were among 15,000 funded by the Saudi Government internationally.." [more]

Saudi Cuts Asia Oil Sales up to 8% After OPEC Deal [Oct 23]
"Oil exporter Saudi Arabia began to implement OPEC's first output curbs in over two years by telling its core Asian customers it would cut their supplies by up to 8 percent next month.. ..The cuts to key Asian refiners, which are estimated to total at least 250,000 barrels per day (bpd), provided the first hard evidence that OPEC's top producer is removing supplies from the market after the cartel agreed late last week to cut production by a deeper than expected 4.3 percent compared to September.." [more]

Saudi Cleric Says West Fearful of Spread of Islam [Oct 23]
"A prominent Saudi cleric said on Monday that Pope Benedict's controversial remarks on Islam came from vexation at the spread of the Muslim faith.. ..'This arises only because of ire in the hearts of adversaries over the spread of Islam beyond all borders and obstacles,' Sheikh Saleh bin Humaid said in a sermon at the Grand Mosque in Mecca to mark the Muslim Eid al-Fitr feast.." [more]

Saudi Students Try to Fight Stereotypes [Oct 23]
"Salim al-Sulaiman thinks the 9/11 hijackers were 'psychos.' But his disdain for the terrorists who attacked New York and Washington, D.C., and crashed a jet in Somerset County doesn't help him avoid suspicious looks when he's out in public.. ..That's why al-Sulaiman, who is studying toward a master's degree in health information management, is devoting considerable time to the Saudi Students House. The group of Saudi students from Pittsburgh-area colleges is trying to counter a one-dimensional image of their country as a repressive autocracy ruled by a wealthy royal family and bound by rigid adherence to Islam that spurs militancy.." [more]

Revaluation of Saudi Riyal During Eid Speculated [Oct 23]
"Speculation is rife that Saudi Arabia will revalue its currency, the riyal, during the Eid holidays, according to Standard Chartered Bank economist Steve Brice. A move of 15 per cent has been mentioned, which 'would be a huge shift of policy', he said, adding that a 5 per cent upward adjustment might be more plausible instead.." [more]

First Saudi Film Opening [Oct 23]
"KEIF Al Hal (How's It Going?), Saudi Arabia's first feature-length film, will make its Middle East debut in Bahrain today. The landmark film will be screened at Bahrain Cinema Company's screens in Seef Mall and will open on November 8 in the UAE, Qatar, Kuwait and Egypt. The film details the struggle between moderates and religious extremists in one Saudi family.. ..The producers hope the film will be a springboard for cinematic reform in Saudi Arabia.." [more]

Saudis to Invest Over SR2 Billion in Iraq [Oct 22]
"Many Saudi businessmen are now getting ready to establish a number of development projects in Iraq after the Iraqi Parliament approved its foreign investment law.. ..Thaeer Al-Feili, consultant at the Iraqi Ministry of Housing, said that there are three big projects that Saudi investors tend to launch in Iraq. The projects include industrial, housing and agricultural investments. The total investment of these projects are estimated at more that SR2.2 billion ($587 million).." [more]

Deal Aims to Halt Sectarian Killings [Oct 22]
"A two-day meeting of Iraqi Sunni and Shiite religious leaders concluded here on Friday night with the signing of the Makkah Document, which calls for an end to sectarian violence and Muslim killings.. ..The 10-point text was drafted by four clerics .. .. at a preparatory meeting held under the auspices of the OIC in Jeddah 10 days ago.. ..The Sunni and Shiite leaders agreed not to incite any passions and feelings based on sects, ethnic lines, geographical regions and languages.." [more]

2.5M Muslims Attend ‘Khatm’ Prayer [Oct 22]
"Around 2.5 million Muslims from all over the world attended Isha and Taraweeh prayers, and the following supplication celebrating the complete recital of the Holy Qur’an – the Khatm prayer.. ..The gathering at the Holy Mosque was the highest ever. Never before had such a huge gathering been witnessed.." [more]

Gulf Region Makes Strategic Shift in New Global System [Oct 22]
"When US Secretary of State Condoleezza Rice visited the region two weeks ago as part of a new diplomatic initiative, she received cold response. Arab leaders agreed to meet her and listen to her statements and arguments because it is part of the diplomatic protocol. But Arab leaders also know that US policy is not made in the State Department. Rather, the real power resides in the White House in the form of the Vice President’s Office and the National Security Council.." [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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