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Saudi Selection May Boost Airbus in Mideast [Feb 17]
"After several years of tough competition — and a few days of confusion — Airbus appears to have won a Saudi order for two aerial tankers, beating out Boeing and scoring an edge in a Middle East market that often follows Riyadh’s lead.. ..Sources at the Saudi Defense Ministry declined to comment on the deal, but a Boeing official in the Middle East confirmed that its KC-767 bid had lost to Airbus. Saudi Arabia is the latest country to go for the MRTT, which is based on the A330 aircraft. The Royal Australian Air Force has already ordered five and the British reportedly are in final negotiations to buy 14. Boeing officials are hoping the Saudi decision does not influence the United Arab Emirates, which is preparing to choose between the KC-767 and MRTT for a three-plane purchase.." [more]

Tourists and Visitors Throng Janadriya Village [Feb 17]
"Public response to the annual Saudi National Heritage and Cultural Festival, known as Janadriya, has been overwhelming. Hundreds of tourists and guests from more than 50 countries are attending the 22nd festival which was opened on Wednesday by King Abdullah Bin Abdul Aziz . Janadriya village, which is spread over 1.5 square kilometres, houses over 30 replicas representing different regions of the country. It is open to the public twice a day. The Janadriya festival provides an opportunity for local and foreign visitors to see life as it was for previous generations of Saudis and how life was in the country long before the discovery of oil.." [more]

Arabs Seek Coherent Chinese Strategy [Feb 17]
"China's meteoric rise as a global economic power is a recurrent theme at business forums these days everywhere, and the Gulf region is no exception. Having been busy for decades in building relations with the West, Arab countries lack strategies in dealing with new world realities in which the US alone no longer holds sway over global trends, analysts say. They point out the "Bric countries," or Brazil, Russia, India and China, have also become new global arbiters.. ..Saudi Arabia already talks about China in strategic terms and has concluded several energy deals. It has been the top supplier of crude to the US and rarely bothered in the past to search for new consumers. Participating in a recent Middle East-China conference held in Dubai, Saudi Arabian mining company Ma'aden's chief executive officer Abdullah Al Dabbagh enumerated several benefits of close Saudi-Chinese relations.." [more]

Performance by Blue Chip Firms Buoys Saudi Bourse [Feb 17]
"The Saudi stock market continued to surge last week after rising over 4 percent the previous week. The Tadawul All-Share Index (TASI) climbed 7.55 percent last week, closing at 7,881.55 points. TASI is still 0.65 percent lower than the year’s start. The Riyadh-based Bakheet Financial Advisors’ (BFA’s) weekly report said: 'The soaring was fuelled by a number of positive factors, including good performance by blue chip firms and the banking sector, which was the major driving force behind last week’s rise.' The Saudi banking sector index climbed by 12 percent. The BFA expected the rebound to continue this week, but cautioned that the market could witness a 'limited profit-taking”.." [more]

Global Leaders To Address Multinational Gathering [Feb 17]
"In a press conference hosted by the Jeddah Chamber of Commerce & Industry, and Sami F. Bahrawi, Chairman of Jeddah Economic Forum 2007, the program and speakers were formally announced today. Her Majesty Queen Rania Al-Abdullah of Jordan will deliver a special keynote address at the conclusion of the opening day, Sunday 25th February. Plenary Speakers will include: HRH Prince Turki Al Faisal, H.E. Recep Tayyip Erdogan, Prime Minister of Turkey; The Hon Dato’ Sri Mohd Najib Tun Abdul Razak, Deputy Prime Minister of Malaysia; H.E. Lech Walesa, former President of Poland; H.E. Benazir Bhutto, former Prime Minister of Pakistan; The Rt. Hon. Jean Chretien, former Prime Minister of Canada; Minister Liu Jiangfeng from China; General Wesley Clark, former Supreme Allied Commander of NATO; Mr Peder Wallenberg, Founder of Carpe Vitam and Baroness Symons of Vernham Dean, UK Chair of the Saudi-British Business Council.." [more]

History Comes to Life at Saudi Janadriya Festival [Feb 16]
"The annual Saudi National Heritage and Cultural Festival, known as Janadriya, the village some 43 kilometres north of Riyadh where the event takes place, was opened on Wednesday by King Abdullah Bin Abdul Aziz. The opening ceremony was attended by a number of dignitaries from inside and outside Saudi Arabia. The festival has turned into one of the most important events of its kind in the Arab world. This is the 22nd festival as the function, organised by the Saudi National Guard, first kicked off in 1985.. ..The event has always been a big hit among Saudis, particularly youths, who throng the village to get a glimpse of their heritage and culture. The folk and heritage festival, moreover, gives Saudi and foreign visitors a chance to slow down and take a closer look at the social tableau of an earlier era.." [more]

Rice Denies US Will Boycott Ministers [Feb 16]
"US Secretary of State Condoleezza Rice denied that the United States decided to boycott all ministers of a Palestinian unity government now being formed during an interview on Friday. Speaking with Al Arabiya television, Rice said Washington would reserve judgement on the new Palestinian government until it was formed, but said she hoped it would abide by the requests of the Quartet of Middle East negotiators and recognise Israel and accept interim peace accords.. ..Rice is due to meet Palestinian President Mahmoud Abbas and Israeli Prime Minister Ehud Olmert on February 19 but uncertainty over the Palestinian unity government complicates the summit.." [more]

Saudi Woman Creates Janadriya History {Feb 16]
"Mariam Al-Ghamdi created history on Wednesday night. She became the first Saudi woman artiste in the 22-year history of Janadriya Festival to participate in the opening ceremony of this important cultural event in Riyadh on Wednesday. People watched her brief but meaningful play screened during the 50-minute operetta entitled “Saudi Arabia: The Land of Love.” Mariam, who works in TV serials and stages shows, is a household name in Saudi Arabia. She is also a writer and a poetess.. ..Mariam believes the future for Saudi women artistes is very bright.." [more]

Saudi Arabia Rules the Region in Consumption of Junk Food [Feb 16]
"Saudi Arabia is the processed food king of the region, according to a recent study by the Doha-based Gulf Organization for Industrial Consultancy. While it may not be surprising that the largest country in the region is also the largest consumer of unhealthy, processed, sugary and fatty mass-produced food and beverages, the study also shows that the Kingdom is also ranked 15th in the world in terms of producing processed food items. Saudi Arabia invested $325 million in the production of processed food, such as potato crisps, candy and biscuits in 2005, out of a total of $356 million in investment in that industry in the GCC.." [more]

Arcelor Mittal to Build Saudi Steel Mill [Feb 16]
"Arcelor SA and Mittal Steel Co., currently joining to become the world’s largest steel producer, said yesterday they would build a steel mill in Saudi Arabia to supply the oil industry. The companies said they would hold 51 percent of a joint venture with the Bin Jarallah group to construct a seamless tube plant in the eastern Saudi city of Jubail on the Arabian Gulf that could churn out 500,000 metric tons of steel tubes and pipes a year.. ..Saudi Aramco, will be “one of the key customers” of the mill, Arcelor Mittal said. Aramco plans to spend $50 billion over the next five years to build more refineries in Saudi Arabia and other parts of the world.." [more]

Saud: No Barriers to Nuke Cooperation With Russia [Feb 15]
"Saudi Arabia said yesterday there were 'no barriers' to atomic energy cooperation with Russia, following a visit made by Russian President Vladimir Putin. 'Saudi Arabia discussed this matter with the Secretariat General of the GCC (Gulf Cooperation Council) during the Russian president’s visit,' said Foreign Minister Prince Saud Al-Faisal at a press conference held here yesterday. 'The (Al-Jaber) GCC Summit held in Riyadh had mentioned that GCC countries would develop this (nuclear) energy in line with certain protocols,' he added. He said that GCC countries would not develop nuclear weapons.." [more]

Gulf Warned of Jobs Revolt [Feb 15]
"Unemployment is a ticking bomb that could cause 'a revolt' across the Gulf region, a top official said.. ..Abdul Rahman Bin Hamad Al Attiyah, secretary-general of the Gulf Co-operation Council (GCC), told delegates at the opening of the 30th Governing Council of the International Fund for Agricultural Development (IFAD) in Rome. "For the GCC countries, [unemployment] is an issue of great importance as high rates of employment are prevalent, particularly among young people, and have become one of the most pressing challenges faced by countries in the Near East and North Africa,.." [more]

Saudi Readymix to Carry Out $85.3m Expansion Plan [Feb 15]
"The President of Saudi Readymix that the company's production has crossed the threshold of 3 million cubic meters in 2006 for the first time since the establishment of the ready-mixed concrete supplier, Arab News reported. The official indicated that the company will carry out an $85.3 million expansion plan within five years through expanding its factories and distribution bases throughout the KSA. He added that Saudi Readymix is also planning to raise its annual output volume by further 30 percent.." [more]

Saudis Allocate 9b Riyals for Education [Feb 15]
"Saudi Arabia is moving ahead in developing its education curriculum, said Saudi educational experts in press statements yesterday.. ..'The King Abdullah Bin Abdul Aziz scheme for developing education will contribute to turning about 5 million male and female students from the traditional method of text books and lesson memorisation, which is currently adopted in schools, to the application of scientific methods that help students upgrade their mental and thinking skills,' the experts said during a press conference in Riyadh.. ..the new scheme will include the introduction of e-syllabus and the training of some 400,000 male and female teachers to enable them to cope with the new development in trends.." [more]

US Businessmen Show Interest in Madinah Projects [Feb 15]
"Several American businessmen have expressed their interest to develop various business projects in Madinah in a recent visit to the Madinah Chamber of Commerce and Industry (MCCI). Basem Al-Hasemi, a high-ranking official at the US consulate in Jeddah, led the US side.. ..Yanbu, with its two industrial cities and a seaport, is home to SR46 billion worth industries. The city also provides all facilities for industrial investors, the MCCI chairman added. In and around Madinah, there are 147 industrial units with SR1billion worth of investments.. ..A representative of the Saudi Arabian Investment Authority, Saleh Abbas, who also attended the meeting, explained the incentives provided by the government to foreign investors.." [more]

MedGulf Set to Float 25% of Stock - KSA [Feb 15]
"MedGulf (Insurance and Reinsurance) will float 20 million shares worth SR200 million at the par value of SR10 each starting on Saturday. The initial public offering (IPO) represents 25 percent of MedGulf's stock and will be sold to the public through 11 authorized banks. It marks a major step en route to becoming a joint stock company from the Kingdom's insurance sector.. ..It becomes the second company from the insurance sector to go public following the flotation by Al-Malaz Insurance Co. on Feb. 3.." [more]

Fuelling the Dragon [Feb 15]
"..The advance into the Middle East creates another front in Beijing's growing global rivalry with Washington and other western countries. 'China's strategy in the Middle East puts us in a competition for influence,' says Flynt Leverett, director of the Geopolitics of Energy Initiative at the New America Foundation in Washington. 'But the answer is not a confrontational approach over energy interests - it is to develop a more co-operative relationship with the Chinese on energy security'.. ..Jon Alterman, Middle East programme director at Washington's Centre for Strategic and International Studies, says western governments have to recognise that China will be a rising power in the Middle East and that it should be brought into discussions on regional security.." [more]

Saudi Arabia: Lift Travel Ban on Government Critics [Feb 14]
"Saudi Arabia should lift politically motivated bans on foreign travel it has imposed on prominent government critics, Human Rights Watch said in a letter sent to King Abdullah on February 9. The Ministry of Interior has imposed the travel bans without regard to Saudi or international law and has refused to hear the appeals for relief from many of the men subject to the bans. “By imposing travel bans, the Saudi government is restricting the movement of leading intellectuals, diminishing their ability to work for a better future for the Saudi people through an international exchange of ideas,” said Sarah Leah Whitson, Middle East director at Human Rights Watch.. ..These travel bans violate international human rights law which guarantees everyone the right to leave any country, including his own, and to return to his country.." [more]

Reality Show Aims to Take US Closer to Arab World [Feb 14]
"As the US struggles with its image in the region, a group of former officials and diplomats, Democrat and Republican, is trying to come to the rescue, unveiling the results of what they hope will help bridge the gap between Arabs and Americans. Layalina Productions, a television content provider that counts an impressive board of advisers, including George Bush, the former US president, and James Baker, the former secretary of state, is behind a reality television show that aims to portray America in a more appealing light.. ..Yet analysts say it is unlikely to change Arab attitudes towards the US.." [more]

Saudi Al-Qaida Urges Strikes on U.S. Oil Sources [Feb 14]
"A Saudi wing of al-Qaida is calling for attacks on U.S. oil sources across the world, saying targets should not be limited to the Middle East and listing Canada, Venezuela and Mexico as U.S. oil suppliers. The threat appeared in the al-Qaida Organization in the Arabian Peninsula’s e-magazine, Sawt al-Jihad (Voice of Holy War), which was posted on a Web site used by Islamist militants.“It is necessary to hit oil interests in all regions which serve the United States not just in the Middle East. The goal is to cut its supplies or reduce them through any means,” the statement said.. ..Al-Qaida launched a failed suicide attack on the world’s largest oil processing plant in Saudi Arabia in February 2006 in which officials said two tons of explosives were used.." [more]

Arab Economies Grow Despite Turmoil [Feb 14]
"Arab Gulf states are utilising oil revenues to diversify their economies better and non-oil producers in the Middle East are liberalising faster despite political turmoil, the World Bank's deputy head said. 'In general all countries of the region are growing at a rate of between three to seven per cent..,'.. ..The World Bank's latest report on economic prospects for the Middle East and North Africa (Mena) region says the surge in oil prices and the boost in government expenditure has sent growth in the region to
its highest levels in the past four years.." [more]

Iraq Reopens Its Riyadh Embassy After 17 Years [Feb 14]
" Iraqi Foreign Minister Hoshyar Zebari reopened his country’s embassy in Riyadh after 17 years as part of its efforts to strengthen relations with Saudi Arabia and other Arab countries.. ..He said the reopening of the embassy was based on an initiative from the Iraqi government to restore full diplomatic relations with Arab and Islamic countries with Saudi Arabia being the first. The Iraqi Embassy was closed down in February 1990 after Iraq invaded Kuwait, sparking the first Gulf War.." [more]

Consumer Confidence in Kingdom at New Highs [Feb 14]
"Consumer confidence in Saudi Arabia grew stronger in the second half of 2006, elevating the Kingdom to top place in the Middle East and Levant region. In the latest MasterIndex survey covering five economic factors — employment, economy, regular income, stock market and quality of life — consumers across Saudi Arabia were highly optimistic about their future. The current Saudi Arabia MasterIndex score of 97.3 out of a possible score of 100 is a significant improvement on the 88.5 score received six months ago.. ..The most significant increase in the Saudi index score was the rise in consumer sentiment on the stock market, which rose to 95.8 from 82.1 up 13.7 points from the last survey six months ago.." [more]

US Nominates Business Bigshot as Saudi Ambassador [Feb 13]
"US President George W. Bush has nominated Ford Fraker, a heavyweight business executive, to be the next United States Ambassador to Saudi Arabia, the White House said in a statement early today. A Harvard University graduate, Fraker served in the past as Head of Banking for the Saudi International Bank. With deep knowledge in the Middle East, he now serves as Chairman of Trinity Group Limited and consultant to Intercontinental Real Estate Corporation.. ..Fraker's appointment comes one day after Saudi Arabia appointed Adel Jubeir as the Kingdoms Ambassador in Washington, replacing Prince Turki Al-Faisal who left his post after 15 months of service as the Saudi envoy in the US.." [more]

Saudi Arabia Allocates $2.4b for Improving Education Sector [Feb 13]
"The Saudi Arabian Education Minister said that the Saudi government has approved the King Abdullah Project for developing education with at total budget of $2.4 billion, Arab News reported. The minister pointed out that the project aims to improve the education atmosphere, enhance teachers' training and meet the requirements of the education sector in the kingdom.." [more]

Saudi Arabia Keeps Supply Steady [Feb 13]
"Saudi Arabia will keep oil supplies steady to some of its big-gest customers in March, although some Asian refiners were expected to receive additional crude, trade sources said yesterday. Opec has pledged to reduce supplies by a total of 1.7 million barrels per day, including a second cut of 500,000 bpd taking effect from February 1.Several Opec ministers have said there will be no need for a further output cut when the group meets in March, provided there is no significant change in marketconditions.. ..Saudi Arabia has so far adhered to Opec's pledged cuts and some traders said higher supplies to some refiners would be offset by reduced deliveries elsewhere.." [more]

Russia Could Help Saudi in Atomic Energy: Putin [Feb 13]
"Russian President Vladimir Putin said Moscow would consider helping Saudi Arabia with a possible atomic energy programme and that he hoped to build stronger ties with Muslim countries. 'Russia is willing to look into co-operation opportunities in the area of atomic energy,' Putin told Saudi businessmen, speaking through an Arabic interpreter. Saudi Arabia and fellow GCC members Qatar, Bahrain, Oman, Kuwait and the UAE, said in December they had ordered a study on a possible joint civil atomic programme.." [more]

Saudi Arabia Finances a Housing Programme in Hebron [Feb 13]
"On 11 February 2007, in Riyadh, a Memorandum of Understading (MOU) on mutual cooperation between UN-HABITAT and the Saudi Committee was signed by Mrs. Anna Tibaijuka, Executive Director, UN-HABITAT, and H.E. Dr. Sa'id Al-Orabi Al-Harthi, Chairman, Saudi Committee for the Palestinian People Relief, and Advisor to the Minister of Interior. The occasion was witnessed by H.E. Dr. Jamal Al-Shobaki Ambassador of Palestine to the Kingdom of Saudi Arabia. The MOU provides a framework for the establishment of a 'Housing and Income Generating Programme for Widowed and Poor Women in Al Khalil (Hebron), the West Bank, the occupied Palestinian territories'.." [more]

MIT to Help Create First ‘Smart City’ in Saudi Arabia [Feb 13]
"King Abdullah Economic City (KAEC), the path-breaking development by Emaar the Economic City (Emaar.E.C), is in talks with the Massachusetts Institute of Technology (MIT) to develop KAEC as the first ‘Smart City’ in the world. A delegation from MIT met Nidal Jamjoom, chief executive officer, Emaar.E.C to discuss strategies that will shape KAEC as the world’s first truly IT-driven ‘Smart City’.. ..'Our association with MIT will serve as a technology telescope for bringing in emerging technologies and roll out ICT solutions that will continue to uphold the status of KAEC as the world’s ‘Smart City’ even after several years,' added Omar Al-Khudairi.." [more]

South Africa Tourism Woos Saudi Investors [Feb 13]
"The South African Embassy and Consulate General in Saudi Arabia will host workshops in the Kingdom to promote South Africa’s tourism and investment opportunities ahead of the 2010 FIFA World Cup in South Africa. The workshops will take place in Jeddah on Feb.18 and in Riyadh on Feb.19. Dubbed the “Next Stop South Africa” campaign, a delegation of senior officials from the Departments of Environmental Affairs and Tourism, Trade and Industry (Investment Promotion Unit), members of South African Tourism, the International Marketing Council of South Africa, as well as representatives from several Provincial Investment Promotion Agencies, will give presentations at the workshops.." [more]

France Reverses Announcement of an Airbus Tanker Deal with Saudi Arabia [Feb 12]
"French officials scrambled Monday to avoid a rift with one of the world's biggest arms buyers after prematurely announcing a deal by Airbus to supply Saudi Arabia with refueling tanker planes and then backing down. The reversal came as Boeing, the U.S. archrival of Airbus, introduced a newly redesigned KC-767 as its proposed aircraft for a $40 billion air force contract competition to replace 179 refueling planes. Boeing tweaked its 767 design to improve fuel efficiency, among other factors, to beat Northrop Grumman, which is expected to offer its KC-30, a modified Airbus A330, at a discounted price. Airbus has been seeking to loosen Boeing's grip on the tanker market.." [more]

Oil Prices Fall After Comments by Saudi Oil Minister [Feb 12]
"Oil prices fell back from the $60-a-barrel mark today as the market looked ahead to a surplus of supply in the second quarter and following a suggestion that OPEC is unlikely to further cut production. On Friday, prices climbed briefly above the psychological $60 barrier on unrelenting cold U.S. weather.. ..Over the weekend, Saudi oil minister Ali Naimi suggested that the cartel was not looking to make further production cuts.. ..'If you are asking me are we going to take additional cuts or increase supply, I do not know,' said Naimi, the oil cartel's de facto leader. 'But, most probably if the trend is like what it is like today, with the market getting in much, much better health and balance, there may not be any reason to change'.." [more]

An Eye-Opening Visit for Australian Women [Feb 12]
"Australian and Saudi businesswomen found more similarities than differences during their meeting at the Riyadh Chamber of Commerce and Industry Saturday. The 14-women delegation arrived in the Kingdom last Tuesday for a two-week visit.. ..During their visit to the women’s branch of the Riyadh Chamber of Commerce and Industry (RCCI), Huda Al-Jeraisy, chairwoman of the Executive Council at the RCCI, answered the most common question foreigners ask: why women’s branch of the RCCI is separated from the men’s and whether this separation causes any difficulties? 'We have it separate to abide by Islamic teachings,' Al-Jeraisy answered. 'But by having a separate women’s branch, the specialized needs of businesswomen have been met through the separate specialized department.'.. ..Fiona Hill, the head of the Australian delegation, said she understood the need for specialized services for businesswomen. 'We don’t have a special Chamber of Commerce and Industry for women in Australian but we need one,' Hill said. The delegation head invited Saudi businesswomen to visit Canberra.." [more]

Saudi Prepares For Airport Privatisation [Feb 12]
"Saudi Arabia is paving the way for privatisation of its international airports. The General Authority of Civil Aviation (GACA) is working on plans to give all three of the Kingdom's international airports into autonomous, state-owned, companies. Abdullah Ruhaimy, president of GACA, says that the airports need to be given their own corporate identities and financial independence in order to improve performance.. ..Ruhaimy stressed that no decision has yet been taken on full privatisation of Saudi Arabia's airports, but was keen to discuss the positive impact that the private sector is already having on the country's aviation industry.." [more]

Saudi Arabia's Non-Oil Exports to Soar [Feb 12]
"Saudi Arabia's non-oil exports are set to reach 79 billion Saudi riyals during 2007, compared to 71 billion riyals in 2006, according to a report. The report, released by the Saudi ministry of finance, has based its forecasts on the major increase in non-oil exports to Iraq and East Asia, as well as the access of Saudi exports to European markets following the Kingdom's accession to the World Trade Organisation (WTO). The report noted that the value of these exports increased by 10.3 per cent.. ..The forecasts of the Ministry of Finance are not much different from those made earlier by the Saudi Exports Development Centre, an affiliate to the Council of the Saudi Chambers of Commerce and Industry. The centre predicted that Saudi non-oil exports would touch 80 billion riyals in 2007. The centre noted that there are a number of Saudi projects that will begin operating in 2007, which will boost the value of non-oil exports.." [more]

Airbus Wins Saudi Order [Feb 12]
"Airbus has won a Saudi Arabian order worth between 350 million euros ($455 million) and 400 million euros, the French Ministry of Defence said. The French government said Saudi Arabia had decided to order an unspecified number of A330 MRTT tanker/transport planes from Airbus. The basic planes will be made in Toulouse while Spain's CASA will turn them into military aircraft at its Getafe site near Madrid.." [more]

JEF Registration Begins [Feb 12]
"Registration for the Eighth Annual Jeddah Economic Forum, starting on Feb. 24, at the Jeddah Hilton, begins this week with a regional and international marketing and advertising campaign. Delegates can register directly Online via the link on the Forum Website [www.jef.org.sa]. For Registration Forms – contact the Registration Office on +966 2 657 0001.. ..JEF 2007 will explore the theme ‘Economic Reform: Flourishing Grounds and Expanding Horizons’. International Speakers are expected to include Prime Minister Erdogan of Turkey, Lech Walesa - former President of Poland, Jean Chretien - former Prime Minister of Canada and other internationally known economists and business leaders.." [more]

Saudi Women May Soon Take Up Diplomatic Work [Feb 12]
"Saudi women will soon be eligible to take up diplomatic work at the Ministry of Foreign Affairs, according to a leading official at the Institute of Diplomatic Studies. 'There is an inclination to open the diplomatic sector for women at the institute and the minister of foreign affairs is very keen on women working in the ministry,' said Dr. Muhammad Al-Uwaydi, director of the Periodicals and Publishing Department at the Institute of Diplomatic Studies. The institute was established 27 years ago to serve the Foreign Affairs Ministry by training Saudi diplomats.. ..Foreign Minister Prince Saud Al-Faisal announced two years ago that Saudi women would be employed at the ministry. The ministry had also began hiring Saudi women to work at the Kingdom’s missions abroad. 'So opening a section for women to qualify them for diplomatic work is in line with that,'.." [more]

Putin Arrives in Saudi Arabia on 'Historic' Mideast Trip [Feb 11]
"In the first trip to Saudi Arabia by a Russian leader, President Vladimir Putin arrived in the kingdom Sunday, where he is expected to discuss with top Saudi officials the region's hotspots as well as economic and military cooperation. Saudi King Abdullah and Crown Prince Sultan met the Russian leader at the airport Riyadh, the official Saudi Press Agency reported. Putin is leading a large delegation that includes almost 60 business executives who are scheduled to meet with their Saudi counterparts to discuss investment opportunities and possible joint ventures between the two countries.." [more]

HSBC Underlines Saudi Commitment [Feb 11]
"HSBC Group has vowed to increase its long-term commitment to Saudi Arabia. 'HSBC has been in Saudi for 55 years, and we hope to be here for at least 55 more,' said chairman of HSBC Group Stephen Green, one of the world's largest financial institutions, speaking after concluding a three-day visit to the kingdom. Green had a series of top level discussions with senior government officials during his visit, said an official spokesman.. ..Green's meetings with Saudi officials and representatives of the Kingdon's banking sector ranged over banking activities in the Kingdom, the promotion of innovative banking and investment initiatives and an exchange of views on the future direction of Saudi Arabia's financial sector.." [more]

EC to Probe Alleged Fraud in BAE Deal [Feb 11]
"The British government is to be referred to the European Commission over its decision to abandon a fraud investigation into BAE Systems arms deals with Saudi Arabia. If the Commission finds that its rules have been broken, the government could face a potentially unlimited fine in the European Court of Justice. The move comes after Internal Market Commissioner Charlie McCreevy told Liberal Democrat MEP Chris Davies that failure by an EU state to take action to ensure contracts are fairly won would constitute 'a serious infringement of the EC rules'. Prime Minister Tony Blair said that the decision to halt the Serious Fraud Office inquiry was taken in December in order to avoid damage to national security.." [more]

Riyadh Refutes Reports on USD 1 Billion Assistance to New Palestinian Government [Feb 11]
"Saudi Arabia refuted Sunday press reports that it pledged USD one billion as an assistance to the coming government in Palestine. 'There is no grain of truth in the reports,' the state-run Saudi News Agency (SANA) quoted Saudi officials as saying. The recent Makkah Accord between Palestinian leaders was reached out of their own sincere will and understanding, the officials said, denying any external interferences or preconditions.." [more]

Intelligence Report Reveals Strong Fundamentals of Business Confidence [Feb 11]
"The second Arab Business Intelligence Report will place Arab CEO confidence at centre stage at this year's World Economic Forum. In a year marked by conflict in the Arab world, its CEOs and business leaders (especially those outside the oil markets) score, for the second year running, some of the highest levels of business confidence in the world. The Middle East and North Africa region has this year become the tenth largest economy in the world. The GCC economies alone rank 16th, according to a recently published report. Economic confidence has traditionally been associated with high oil prices. The ABIR somewhat challenges this myth by looking across nine industry sectors and 18 Arab countries.." [more]

Strategic Accords Likely During Putin’s Visit [Feb 11]
"Russia and Saudi Arabia are expected to sign three major agreements and two memorandums of understanding (MOUs) as Russian President Vladimir Putin arrives in the Saudi capital today on his first visit to the Kingdom.. ..Talks will also revolve around bilateral trade relations. “We are ready to pursue talks held a year ago between Saudi and Russian businessmen on all fronts,” the ambassador said. According to the embassy, the first agreement to be signed today is a convention that would eliminate double taxation on income and capital. Russia’s Deputy Minister of Finance Sergey Shatalov is expected to sign the agreement with Minister of Finance Ibrahim Al-Assaf from the Saudi side.." [more]

US Intelligence to Hire More Arab-Americans [Feb 11]
"Since the Sept. 11 attacks and the 2003 US-led invasion of Iraq, American agencies have been slow to hire Arab- and Muslim-Americans to help them wade through Mideast and South Asian cultural and language operations. At the FBI, if one counts the agents there who know a handful of Arabic words — including those who scored zero on a standard proficiency test — just 1 percent of the FBI’s 12,000 agents have any familiarity with the language.. ..Navy Vice Adm. John M. McConnell, garnered much interest when he announced last week that he intends to improve security rules to make it easier for US intelligence agencies to hire first-generation Arab-Americans and Muslim-Americans for highly sensitive jobs.." [more]

$3b a Year Spent on Obesity-Related Illness [Feb 11]
"Saudi Arabia spends around $3 billion (Dh11 billion) every year for obesity-related consultations and treatment, medical sources said in press statements yesterday. More than three million Saudis are classified as obese, the sources added. The sources attributed this trend to poor diet and lack of exercise. Gulf Cooperation Council (GCC) health experts noted the increasing rate in diabetes and other illnesses among the population of the GCC member states was due to the rapid modernisation of life in these countries.." [more]

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