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Saudi Arabian Cleric Slams Veil Remarks [Nov 18]
"Saudi Arabia's top Muslim cleric described the Egyptian culture minister's recent criticism of the veil as a 'calamity'.. ..'It is truly painful to hear such declarations from within Islamic lands, from people who are considered Muslims,' he added.. ..The response to the Egyptian minister's remarks highlights the growing conflict between conservative Muslims and secularists in the Arab world.." [more]

Saudi IPO Summit Opens Tomorrow [Nov 18]
"Over 400 industry professionals have registered for The Saudi IPO Summit 2006, which opens tomorrow (Monday 20th November) at the Al Faisaliah Hotel in Riyadh. Co-organised by the Riyadh Chamber of Commerce & Industry, the two-day conference intends to stabilise the market and help restore investor confidence after a volatile year, which recently saw the Tadawul All-Shares Index (TASI) drop to a 21 month low.." [more]

Colorado AG Defends Abuse Case to Saudis [Nov 18]
"The state's attorney general traveled to Saudi Arabia this week to assure officials that a Saudi man convicted in Colorado of sexually abusing and virtually enslaving his housekeeper was treated fairly. Attorney General John Suthers made the trip at the request of the State Department. He met with Saudi King Abdullah, Crown Prince Sultan and relatives of Homaidan Al-Turki, who was sentenced in state court in August to 28 years to life in prison, Deputy Attorney General Jason Dunn said Friday.." [more]

Energy Forum Offers Vast Investment Opportunities [Nov 18]
"The Kingdom will unveil to global investors its mega projects in the energy sector during the Saudi Energy Forum, which opens today till Monday at the Eastern Province Chamber of Commerce and Industry (EPCCI). The forum is the biggest gathering of local and international investors interested in the Kingdom’s energy sector, and will be attended by over 500 local, regional and international experts, specialists and corporate representatives.." [more]

Saudi Stocks Fall on Fear of Greater Retreat [Nov 18]
"Saudi stocks fluctuated violently last week that started with a dramatic dive caused by a weak demand and selling pressures. The Tadawul All-Share Index (TASI) sank nearly 5 percent at the start of the week, but recovered later to close at 8,400.88 points on Wednesday, which represents a 0.31 percent or 26.34 points decline relative to last week’s close at 8,427.22 points.." [more]

Free Movement a Great Success [Nov 17]
"The Saudi passport chief Major General Salem Al Bolaihed said that the agreement signed earlier with Oman for the movement of citizens without passports has been implemented and the experiment has become a great success. Oman and Saudi Arabia signed the agreement in May this year.Citizens of the UAE and Saudi Arabia will also soon be allowed to travel to both countries without passports.." [more]

GCC: No Plans to Alter Exchange Reserves [Nov 17]
"The six countries that make up the Gulf Cooperation Council have no plan to make any significant changes to the composition of their foreign-exchange reserves, a senior official said Friday. The U.S. dollar would keep hold of its dominate role for the group, Arab Monetary Fund Director General Jassim al-Mannai said. 'The dollar still has a dominant role for currency reserves of the GCC'.." [more]

OIC to Hold Emergency Meeting [Nov 17]
"An emergency session of the foreign ministers of the Organisation of the Islamic Conference member countries will be held at the OIC headquarter here next Saturday. The meeting will examine repercussions of Israeli aggressions in the Palestinian territories, especially the massacre in Beit Hanun in the Gaza Strip last week.." [more]

More Job Opportunities for Women Needed – Princess [Nov 17]
"Princess Adelah Bint Abdullah Bin Abdul Aziz, chairwoman of the Board of Trustees of Khadeejah Bint Khuwailed Center at Jeddah Chamber of Commerce asked the public and private organizations to increase job opportunities for women.. ..Princess Adelah stressed the importance of widening spheres of work for women besides handling all factors impairing women’s employment. She also emphasized the need for maintaining an adequate work environment to encourage women to be productive and
creative in the areas of their specializations.." [more]

Naif Denies Speaking to Al-Anbaa [Nov 17]
"The Saudi government issued a statement yesterday denying that Interior Minister Prince Naif had spoken to the Kuwaiti daily Al-Anbaa. Al-Anbaa cited Prince Naif in an article published Tuesday as saying, among other direct quotes, that a border fence between Iraq and Saudi Arabia 'was essential to protect the country'. The Saudi Press Agency quoted an Interior Ministry statement as saying that the minister never spoke to the newspaper and the quotes are a fabrication.." [more]

Celanese Sues Saudi Group Over Secrets [Nov 16]
Chemicals maker Celanese Corp. on Thursday said it has sued Saudi International Petrochemical Co. and two other chemicals makers, charging violation of trade secrets. Celanese said it is seeking to block Saudi International, International Acetyls Co. and International Vinyl Acetate Co. from constructing vinyl acetate monomer and acetic acid plants in Al Jubail, Saudi Arabia. Celanese alleges the companies hired its former employees and suppliers 'with intimate knowledge of Celanese's trade
secrets'.." [more]

Saudi Energy Forum '06 Starts Next Week [Nov 16]
"Saudi Energy Forum starts next week with nearly 800 delegates from Saudi Arabia, Japan, France, Germany, Britain and the United States.. ..The Kingdom's premier biennial event titled "Leveraging hydrocarbons to create prosperity, is and provides an unrivaled platform for senior level government and industry leaders, project developers and potential joint venture partners to discuss upstream and downstream projects.." [more]

Saudi Shares Bounce Back [Nov 16]
"Saudi shares rebounded yesterday, closing up nearly 5% as lower valuations lured investors back to a market that has lost more than a quarter of its value since October 29.. ..'Private sector investors are buying big stocks because their valuations have fallen to 2004 and 2005 levels,' said Turki Fadak, head of the Arab Financial Consultancy Centre. Saudi’s market had fallen sharply over the past two days after soaring yesterday.." [more]

Saudi Arabia Makes Nuclear Experiments [Nov 16]
"Saudi Arabia is experimenting with nuclear energy, the Saudi ambassador in Kuwait said in remarks published on Wednesday. 'But the kingdom is not seeking to possess nuclear weapons,' Ambassador Abdul Aziz Al Fayez was quoted as saying in an interview with Al Qabas daily. The experiments were in 'the field of nuclear energy', he said without elaborating.." [more]

Saudi Minister Attends Convention on Climate Change in Nairobi [Nov 16]
"Minister of Petroleum & Mineral Resources Eng. Ali bin Ibrahim Al-Naimi, attended the 12th meeting of the parties to the convention on climate change and the 2nd meeting of parties to Kyoto protocol arising from the said convention, which was held in Nairobi, Kenya. In an address at the meeting, Al-Naimi underlined the Kingdom's concern to participate in the international community efforts to face the possible climate change.." [more]

Succession Law Is Abdullah’s Idea: Sultan [Nov 16]
"Crown Prince Sultan yesterday clarified that the new succession law, which was issued on Oct. 20, was the brainchild of Custodian of the Two Holy Mosques King Abdullah while he was crown prince. 'He presented the idea to King Fahd through a letter dated Dul Qaada 2, 1404 explaining its legitimacy'.." [more]

German Firms Bid for Railway Projects [Nov 16]
"German Federal Minister of Economics and Technology Michael Glos said here yesterday that four German companies have submitted their proposals to Saudi authorities to win bids on several of the Kingdom’s future railway projects.. ..He said the German government was encouraging German investors and German companies to invest in Saudi Arabia.." [more]

Data Solutions Wins $16m Saudi Deal [Nov 15]
"Data Link Solutions has received a $16 million contract from the US Air Force Electronic Systems Centre to provide Link 16 capability to Saudi Arabia.. ..The contract marks Saudi Arabia's first purchase of Link 16 capability and will include deliveries of the Joint Information Distribution System to be incorporated on the E-3 Airborne Warning and Control System.." [more]

Saudi Arabia Allocates $800 Million for E-Government Project [Nov 15]
"The rapidly growing business and industrial activities in the Saudi Arabia stress the increasing need for the implementation of advanced systems such as an e-government program in the kingdom.. ..The Council of Ministers allocated recently $800 million to implement an e-government project by 2011. The project aims to bring 150 government services with 1,000 subsidiary services offered by 40 government departments under an e-government system.." [more]

Commodity Strategists: Oil May Fall Below $50, Nippon Oil Says [Nov 15]
"Middle East benchmark crude oil prices may drop below $50 a barrel after 2009 as Saudi Arabia and other nations boost output to supply expanded refining capacity, Nippon Oil Corp. said.. ..Saudi Arabia and Kuwait are among Middle East nations investing in refineries globally to meet a shortage of capacity that increased fuel-making profit margins. The Organization of Petroleum Exporting Countries blamed the lack of refineries for boosting New York oil prices to a record $78.40 a barrel on July 14, along with increased fuel demand in Asia.." [more]

Saudis Must Pump Billions Into Utilities [Nov 15]
"..Ali Al Barak, CEO of the Saudi Electricity Company (SEC), said that the volume of investments needed for the electricity sector in the fields of generation, transmission and distribution through 2015 is amounted to over 163 billion riyals. 'The Saudi Electricity Company (SEC) will spend 20 billion riyals for implementing a number of projects to generate 7,000 megawatts'.. ..the remaining projects will be awarded to the private sector.." [more]

Fair Distribution of Wealth Assured [Nov 15]
"Crown Prince Sultan, deputy premier and minister of defense and aviation, yesterday emphasized the government’s plan to ensure fair distribution of wealth by establishing new development projects all over the Kingdom. He also spoke highly of the new succession law and said it should set the minds of Saudi people at rest.. ..'For the first time, there will be distribution of wealth among all of the Kingdom’s regions involving all cities and villages and covering all sectors'.." [more]

Arms, Ammo Found Near US Consulate [Nov 15]
"During a routine trash collection in Jeddah’s Al-Ruwais district yesterday morning, a worker found eight machine guns and ammunition in a dumpster two blocks from the US Consulate.. ..A Western security expert commented: “It looks as though some people thought they were about to be caught and so dumped the weapons. The fact that they were dumped near the US Consulate suggests that they were making a statement: ‘We can attack you.’ 'There is, however, a more worrying possibility — that terrorists placed the weapons in the dumpster in preparation for an attack..' [more]

Yemeni President Arrives for Talks [Nov 15]
"Yemeni President Ali Abdullah Saleh arrived Tuesday in Riyadh on a visit to the Kingdom.. ..King Abdullah and President Saleh reviewed overall developments in the Arab, Islamic and international arena foremost of which is the situation in Palestine and Iraq and aspects of cooperation between the two countries and ways of enhancing them in the service of the two countries’ people.." [more]

DoD Approves $1.5B Engine Sale to Saudi Arabia [Nov 14]
"The proposal includes engines made by General Electric Co. (GE) and United Technologies Corp.'s (UTX) Pratt & Whitney unit. The proposal includes several combinations, including 155 F110-GE129 engines and 20 F100-PW229 engines. The Defense Security Cooperation Agency said Tuesday it has notified Congress of the military sale, which is not yet final. Congress has the power to block such deals but rarely steps in.. ..Saudi Arabia is in the midst of a massive upgrade of its armed forces. The Pentagon this year has approved transactions worth many billions of dollars.." [more]

Saudi Promises "Security Fence" Along Iraq Border [Nov 14]
"Saudi Arabia will next year start work on a planned security fence stretching 900 km along its border with Iraq to prevent Islamic militants from entering Saudi Arabia.. ..The cost for the project, including military bases and surveillance equipment, could reach $12 billion, Interior Minister Prince Nayef told Kuwait's al-Anbaa daily in an interview. Saudi Arabia is worried that, three years after the U.S.-led invasion to bring down Saddam Hussein, sectarian violence between Shi'ite and Sunni Arabs could lead to civil war and the eventual break-up of its neighbour.." [more]

Saudi Bourse Runs Out of Steam [Nov 14]
"A brief rally on the Saudi stock market ran out of steam yesterday as jittery investors cashed out of the largest stocks and cast doubts about whether the worst is over for the largest Arab bourse. Saudi Arabia’s stock index had surged more than 8% on Sunday, putting the brakes on a slide that had erased almost a quarter of the market’s value in 10 sessions.. ..Valuations of the biggest companies on the market fell sharply, triggering a wave on institutional buying on Sunday.." [more]

Germany Steps Up Trade Drive in Saudi Arabia [Nov 14]
"Germany has stepped up its trade and investment promotion drive in the Kingdom's water and energy, health, education and industrial sectors following the government's decision to establish economic cities in different parts of the country. The German Saudi Arabian Liaison Office for Economic Affairs (GESALO) has announced that a delegation of German small and medium enterprises (SMEs) from the water sector has arrived here for talks on cooperation in the water sector which has been opened up to the private sector.." [more]

Oil Rises After Saudi Arabia Meets Its Pledge to Trim Output [Nov 14]
"Crude oil rose after Saudi Arabia, the world's biggest exporter, said it would meet its pledge to the Organization of Petroleum Exporting Countries to cut output. Saudi Arabia ``will produce according to the new quota'' by trimming production by 380,000 barrels a day this month, said Ibrahim Muhanna, an adviser to the country's oil minister. OPEC agreed last month to reduce production by 1.2 million barrels a day starting Nov. 1, to end a three-month price slide.." [more]

GCC Investing $120b in Energy Industry [Nov 14]
"The Gulf countries are investing Dh440.4 billion ($120 billion) or 60 per cent of the total Dh735 billion ($200 billion) investment planned in oil and gas sector by the Middle Eastern countries between 2006 and 2010, said a top official. 'Of this, Saudi Arabia is investing $50 billion'.." [more]

Kingdom Regrets US Veto of UN Resolution [Nov 14]
"Saudi Arabia yesterday expressed its anguish over the US opposition to a UN Security Council resolution denouncing Israeli crimes against the Palestinians, saying such stances encouraged the Jewish state to continue its aggression. . ..The Cabinet renewed its condemnation of the latest Israeli massacre of 18 Palestinian men, women and children in Gaza and pledged Riyadh’s unwavering support for the Palestinians.." [more]

GCC Ministers Call for Integrated Strategy to Confront Terrorism [Nov 14]
"The interior ministers of the Gulf Cooperation Council concluded their meeting in Abu Dhabi yesterday calling for an integrated regional plan to confront terrorism and setting up a permanent panel to defeat terror and deal with related issues. Interior Minister Prince Naif emphasized the need for a comprehensive plan to protect security of member countries, taking into consideration the different aspects including deterrent and preventive measures.." [more]

Saudi Arabia's Interior Minister Calls Iraq a Major Base for Terrorism [Nov 13]
"Saudi Arabia's interior minister on Sunday called Iraq a major base for terrorism, a sign of growing concerns in this oil-rich kingdom over its violence-plagued neighbor. 'There is no doubt that Iraq now forms a main base for terrorism,' Saudi Interior Minister Prince Naif told the pan-Arab Al-Arabiya television station in the kingdom's capital. Prince Naif said that the situation in Iraq is deteriorating daily, and the country has become a threat in the region.." [more]

Saudi Shares Rebound as Large Investors Buy [Nov 13]
"Shares in Saudi Arabia surged 8% yesterday as large investors poured money into the biggest companies on the market, halting a collapse that erased nearly a quarter of its value in 10 sessions. Turnover in the Arab world’s largest stock market was 14.67bn Saudi riyals ($3.91bn), three times the value of shares traded on Saturday when the index fell below 8,000 points for the first time in more than 21 months. The slide began after the bourse merged its morning and evening sessions, effectively shutting out retail investors who dominate trading on the stock exchange of the world’s top oil exporter.." [more]

Saudi Says No Foreign Hot Money in Bourse [Nov 13]
"The Saudi central bank has seen no sign of foreign speculative capital in the Saudi stock market.. ..The Saudi Arabian Monetary Agency (Sama) monitors the movement of foreign funds and there is no sign that any foreign investors were moving in and out of the stock market quickly, Okaz newspaper said, citing governor Hamad Saud Al Sayyari as saying. 'Nothing supports the belief there is hot money (in the bourse)'.." [more]

Slovenia, Saudi Arabia Sign Two Deals [Nov 13]
"Saudi Arabia and Slovenia signed two agreements in Riyadh on Saturday. A 65- member Slovenian delegation headed by Prime Minister Janes Janas is on a visit to the Kingdom.. ..The prime minister said the new agreements coupled with the visit of a large business delegation representing 40 companies to the Kingdom, would open a new chapter in Saudi-Slovenian relations. He pointed out that the two countries have great potential to develop business activities. Currently, he said Slovenian visas are issued by the Austrian Embassy in Riyadh and he would soon make arrangements to have political and economic representation in the Kingdom.." [more]

Saudi Plans to Divest $800 Billion From State Firms [Nov 13]
"Saudi government planned to divest itself of $800 billion worth of state-run companies in the next 10 years, a senior official said. The companies will be in the areas of water, power, transport, telecommunications, higher education and aviation. Outlining prospects for investors in the Kingdom, Abdul Wahab Al-Sadoun, director general of energy sector, Saudi Arabian General Investment Authority (Sagia), told the Jeddah Water and Power Forum that low corporate tax — 20 per cent — compared favorably with the United States and Europe and helped stimulate inward investment.." [more]

First Saudi Commercial Film Draws Crowds in Bahrain [Nov 13]
"The first Saudi Arabian film for commercial release is pulling in crowds in Bahrain, where Saudis must travel to watch the ground-breaking movie because of a ban on cinema at home. Saudis who have seen Keif Al Hal (How Are You Doing?), a comedy dealing with extremism and oppression of women, said it was a step forward for Saudi society, but wished they could have seen it in their own country.. ..Keif Al Hal was shot in Dubai, and stars a Saudi actress Hind Mohammad and Hesham Abdul Rahman, a Saudi winner of hit pan-Arab television show Star Academy.." [more]

Media Campaign to Cast Light on Saudi Women’s Role in Development [Nov 13]
"Starting from Nov. 16, the Saudi Women’s media center in Riyadh will launch a media campaign to cast more light on the role of Saudi women in developing Saudi society. The campaign festivals will start immediately after its opening day under the patronage of Princess Adelah Al-Saud, daughter of King Abdullah Bin Abdul Aziz, at InterContinental Hall. “We are not aiming to question whether Saudi woman work or not through the campaign, but rather we want to emphasize on how she works to develop society,” Nahed Ba-Shateh, the director general of the Saudi Women’s media center.." [more]

GDP Grew 6.5 Percent in 2005 [Nov 13]
"Saudi Arabia’s gross domestic product (GDP) grew by 6.5 percent in 2005 compared to 5.3 percent in the previous year while its budget surplus amounted to SR218 billion, the Saudi Arabian Monetary Agency (SAMA) announced yesterday.. ..Sayari described the Kingdom’s admission to the World Trade Organization (WTO) as one of the major economic achievements of 2005. 'It was an important step toward integrating into the global economy, attracting foreign investment, opening and expanding markets and strengthening the competitiveness of the national economy'.." [more]

Arabs Improve Ranking in Press Freedom Index [Nov 13]
"The Reporters Without Borders has released its annual Worldwide Press Freedom Index for 2006.. ..In the Middle East, some countries improved in rank and some declined. Except for Yemen (149) and Saudi Arabia (161) both of which dropped four places from last year, all the Arabian Peninsula countries considerably improved their rank.. ..The decline in Saudi Arabia’s rank is surprising considering that journalists believe that media freedom has improved in the past few years. The report claims that in Saudi Arabia there are no independent media, that there are many red lines journalists cannot cross and that foreign journalists can rarely get entry visas.." [more]

Cisco Saudi Arabia is the Fastest Growing Region in the World [Nov 12]
"Cisco, the worldwide leader in networking, announced recently that the Kingdom of Saudi Arabia emerged as the leading adopter of Cisco technology across the world, posting 127% growth in 2006 up from 2005.. ..Amr Al Dabbagh, Governor and Chairman of the Board of Directors, Saudi Arabian General Investment Authority (SAGIA) said that Cisco's achievement proves that leading international companies operating in the Kingdom are getting the right attention, support and business facilities from SAGIA in order to have successful investments in the country.." [more]

Mitsubishi, Gulf Investment and ACWA Secure Saudi Utilities Deal [Nov 12]
"Japan's Mitsubishi Corp plus Gulf Investment Corp (GIC) and ACWA Power Projects have been selected to build and operate a water and power project in Saudi Arabia.. ..The consortium was selected as a preferred bidder for the project, which consists of a thermal power plant and a desalination plant and support facilities for the two utilities in the southwestern Saudi Arabian coast.." [more]

Saudi Airline to Lease More Aircraft [Nov 12]
"Saudi Arabian Airlines, pressed by a rapid rise in demand, needs more immediate leases of aircraft than purchases, its chief was quoted yesterday as saying. 'One of the problems we face is that any purchase contract for new aircraft will not be delivered before four to five years,' Director General Khaled Al Mulhim told Asharq Al Awsat newspaper. “So the question is: can we afford to wait or should we look for other solutions?.. ..He said passenger figures were expected to rise by up to 15 per cent a year.." [more]

UN Official Lauds Ministry’s Efforts to Rationalize Water Consumption [Nov 12]
"Releasing the report entitled “Beyond Scarcity: Power, Poverty and the Global Water Crisis,” El-Mostafa Benlamlih, resident representative of the United Nations Development Program (UNDP), told reporters that unclean water was a greater threat to human security than violent conflict.. ..He commended the efforts of Saudi Arabia’s Ministry of Water and praised its efforts for carrying out a public awareness campaign.." [more]

Saudi Reformers Still Can’t Travel: Activists [Nov 12]
"A group of Saudi reformers recently detained over calls for a constitutional monarchy in Saudi Arabia are still banned from travelling abroad.. ..“Since our release we've been trying peacefully and quietly to solve the issue of travel with the Ministry of Interior ... The result so far is a rather deaf ear,” said the statement, signed by politics professor Matruk Al Faleh.." [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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