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JEF Opens Today [Feb 24]
"The 8th annual Jeddah Economic Forum (JEF) opens here Saturday. Held under the patronage of Makkah Emir Prince Abdul Majeed Bin Abdul Aziz and organized by the Jeddah Marketing Board, a department of the Jeddah Chamber of Commerce & Industry, the three-day forum is expected to attract more than 2,000 delegates from around the world. Queen Rania of Jordan will deliver a special keynote address at the conclusion of the opening day.. ..The theme for this year’s Forum is “Economic Reform: Flourishing Grounds and Expanding Horizons.” The six half-day sessions are: ‘Strategies for Economic Reform: Universalism vs. Particularism’; ‘Flexicurity in Reform: A Balanced Social Agenda’; ‘People are at the Centre: Social Responsibility & Citizenship Initiative’; ‘The Legal Structure must keep up’; ‘Changing the Global Energy Paradigm’ and ‘Privatization: The Indispensable Tool.’ .." [more]

More Saudi Students Keen To Study In Malaysia [Feb 24]
"The number of Saudis studying in Malaysia is expected to double to between 500 and 600 this year and will increase further to 1,000 in 2008 following greater interest shown by Saudi Arabia to send its students to Malaysia. Deputy Prime Minister Datuk Seri Najib Tun Razak said the Saudi Government's move to make Malaysia as the centre for higher education had attracted a lot of interest in that country.. ..He also said 154 Malaysian students are currently studying in Saudi Arabia, of whom 119 are sponsored by the Saudi Government. Most of them are studying in Medina.." [more]

Saudi Stocks Keep Upward March [Feb 24]
"The Saudi stock market kept its unabated upward trend for the last three weeks after a series of historical plunges. The Tadawul All-Share Index (TASI) gained 4.6 percent last week, closing at 8,245.05 points up from 7,881.55 points in the previous week. TASI is currently 3.9 percent higher than the year's start. It is the first time the Saudi benchmark price surmounts the level recorded at the beginning of the year. The Saudi market's turnover grew by 49 percent last week to SR73.1 billion compared with SR49.1 billion in the previous week.." [more]

Saudi Arabia to Provide Free Health Insurance for Citizens [Feb 24]
"A spokesman at the Saudi Arabian Health Ministry said that the ministry is planning to set up a national cooperative fund to provide free health insurance coverage to all of its nationals after privatizing state-owned hospitals, Arab News reported. The spokesman added that the proposed plan, which is likely to be executed next year, will enable more than 12 million Saudis to receive free medical services at both private and public hospitals.." [more]

Nine Consortiums Bid for Saudi Mobile Licence [Feb 24]
"Consortiums led by Egypt's Orascom Telecom , South Africa's MTN , and Kuwait's Mobile Telecommunications Co. (MTC) are among those vying for a third mobile licence in Saudi Arabia, the Gulf's largest telecom market, the regulator said on Saturday. Saudi Arabia, the world's largest oil exporter, is selling its third mobile phone licence and also plans to end the fixed line monopoly of Saudi Telecom Co.. ..Other consortiums in the race include Kingdom Holding Co., owned by billionaire Saudi Prince Alwaleed bin Talal which is bidding with Turkish mobile operator Turkcell , and Dubai-based Oger Telecom, controlled by Lebanon's al-Hariri family, Sultan al-Malik, spokesman for the Communications and Information Technology Commission (CITC), told Reuters.." [more]

OIC to Break Embargo Against Palestinians [Feb 23]
"Fifty-seven Islamic countries yesterday decided to break "the unjust embargo" against the Palestinians and called on the Middle East Quartet to put pressure on Israel to stop excavations near Al Aqsa mosque, a top Organisation for Islamic Conference official said yesterday. 'In light of the positive developments in Palestine and formation of the national unity government, the international embargo against Palestinians has no justification," Ekmel Al Deen Ihsanoglu, Secretary-General of the Organisation of Islamic Conference (OIC) said'.." [more]

Market Volatility to Last Until the Medium Term [Feb 23]
"Host of factors — reduced OPEC output, cold weather in the northern hemisphere, slower than expected non-OPEC production growth and drop in inventories — aided by the increasing confusion on a possible confrontation Iran on the nuclear issue, has contributed to the firming up of the oil market prices lately — from the lows of below $50 a barrel to around $58 mark at the moment.. ..Concurring with the Saudi Oil Minister Ali Al-Naimi, the CGES said: 'OPEC's current level of production, estimated at slightly less than 30.1 million bpd in January, is below the expected call on its oil. Unless OPEC production is permitted to rise in the coming months, oil prices could once again set off in an upward direction as refiners chase scarce barrels to meet summer demand for transport fuels in North America'.." [more]

Economic Reform Takes Center Stage at JEF 2007 [Feb 23]
"This year's three-day Jeddah Economic Forum opens at the Jeddah Hilton tomorrow with a formal dinner reception for participants, with the support of Makkah Governor Prince Abdul Majeed. The fifth annual event organized by the Jeddah Marketing Board of the Jeddah Chamber of Commerce and Industry, with "economic reform" as the central theme, will bring together some global leaders to deliver their respective discourses on various topics.. ..This time, media coverage of JEF will take a new dimension with the introduction of "Jeddah economic media awards," designed to recognize the best press handling of the annual event.." [more]

Job Opportunities and Employment to Be Tackled [Feb 23]
"The King Abdul Aziz National Dialogue Center announced earlier this week that the next dialogue would discuss Saudi job market and employment opportunities for the country’s citizens. The forum, which is titled “Job Opportunities and Employment: A Dialogue Between the Community and Labor Institutions”, is part of the ongoing national dialogues where citizens and public figures from the private sector and the government hold period forums to address myriad issues facing the Kingdom, from social concerns to future of public policies.. ..This will be the second National Dialogue where the organizers are actively pursuing more participation of high-ranking government officials.." [more]

BAE-Saudi Eurofighter Deal to Complete This Year [Feb 22]
"BAE Systems said on Thursday that it expects Saudi Arabia to sign a firm contract for Eurofighter combat jets by the end of the year. Chief Executive Mike Turner told reporters on a conference call that he expects a deal this year, noting they were government-to-government negotiations, with BAE serving as the prime contractor. The news comes on the same day that the UK arms firm posted a 33% jump in 2006 underlying operating profit. However, commentators have condemned the figures as fundamentally compromised because of the recent diplomatic crisis in which corruption allegations against BAE Systems were dropped because of pressure by the Saudi authorities.." [more]

U.S. Transfers Seven Guantanamo Detainees to Saudi Arabia [Feb 22]
"The United States on Wednesday transferred seven detainees from the U.S. military prison at Guantanamo Bay, Cuba, to Saudi Arabia, the Pentagon announced. With Wednesday's transfer, about 390 detainees still remain at the detention facility at the U.S. naval base in Guantanamo. The United States has transferred to other countries or released about 385 detainees from Guantanamo since the prison was opened in early 2002, the Pentagon said in a statement.. ..Most those still being held there have been detained for about five years and only about 10 have been charged.." [more]

Groundbreaking Saudi Sukuk Issue Closes at US $600M [Feb 22]
"The first international Sukuk issue by a Saudi corporate has successfully closed at US$600m. The landmark three-year issue - based on an Ijara structure - was significantly oversubscribed. A consortium of international banks announced the successful closing on behalf of Dar Al Arkan Real Estate Development Company (DAAR) - a leading residential real estate developer in the Kingdom of Saudi Arabia.. ..Launched as a US$425m issue by ABC Islamic Bank, Arab National Bank, Standard Bank Plc, Unicorn Investment Bank and WestLB AG, the DAAR Sukuk received an overwhelming response from financial institutions across Europe, South East Asia and the GCC region.." [more]

U.S. Congressional Delegation Visits Effat College to Learn About Saudi Education [Feb 22]
"Effat College announced that it hosted a delegation of congressional chiefs of staff from the U.S. on campus on February 21, 2007. The delegation included the following officials who hold offices with Democratic Congressmen: Mr.Jammel Johnson, Ms.Erika Young, and Ms.Semhar Araia. The Republican members of the congressional delegation were Ms.Helen Hardin, Mr. Kenny Kraft, Mr. Dana Gartzke, Mr. Joel Maiola, and Mr. John Goetchius. This visit was arranged by the Saudi Embassy in Washington, D.C.. .. 'The objective of this visit is to enable the congressional delegation members to learn about Saudi culture and become aware of the educational reforms that have occurred in Saudi education.'.." [more]

Media Denied Saudi Academy a Fair Hearing [Feb 22]
"The British media has been engaged in a war of words with the Saudi-funded King Fahad Academy, located in West London, following allegations that textbooks which taught pupils that Jews were "apes" and Christians "pigs" were being used in the classrooms. The allegations of Colin Cook, an English teacher who was dismissed in December for misconduct, has prompted the British government to investigate a school that has served Arab and British children.. ..By and large, the media has used Cook's allegation as the basis for their reporting without putting any of the allegations to the academy's director or staff members.." [more]

JCCI Chief Says Illegal Immigrants Putting Squeeze on Resources [Feb 22]
"A US Congress delegation met with Saudi businessmen at the Jeddah Chamber of Commerce and Industry (JCCI) yesterday and discussed issues ranging from bilateral visa procedures, the US policy toward Israel and the Kingdom’s oil policy.. ..“The Kingdom has seven million legal residents who repatriate billions of dollars to their countries. This is a major dent into our economy. However, the residents are beneficial to the Kingdom as they have been contributing to our economy,” Al-Turki said.." [more]

Corruption Costs Flight of SR3 Trillion Worth Funds [Feb 22]
"Saudi funds worth SR3 trillion ($800 billion) have gone out of the Kingdom as a result of administrative corruption, according to Majed Garoub, a legal consultant and chairman of the lawyers committee at the Riyadh Chamber of Commerce and Industry.. ..He made this disclosure while commending the significance of the national strategy for combating corruption, which was approved by the Council of Ministers last Monday. The Cabinet also set up an authority to monitor implementation of the strategy. Garoub called for greater administrative and financial controls and establishment of a separate ministry for administration.." [more]

Peters Names New Ambassador to Saudi Arabia [Feb 21]
"New Zealand’s next Ambassador to Saudi Arabia will be career diplomat Trevor Matheson, Foreign Minister Winston Peters announced today. Based in Riyadh, Dr Matheson will also be non-resident ambassador to the other Gulf Cooperation Council states of United Arab Emirates, Oman, Bahrain, Qatar and Kuwait. “These countries are key partners for New Zealand in the region, and central to our interests in the wider Middle East," Mr Peters said.. ..'The Middle East is rapidly becoming a key outlet for our high quality niche products and services. Education is an area of particular growth, with Saudi Arabia recently announcing that over 350 scholarship students will be eligible to apply for study in New Zealand this year,' Mr Peters said.." [more]

84 Saudi Arabians to Study at Korean Universities [Feb 21]
"Eighty-four Saudi Arabian students will study at Korean universities from March under a Saudi government education grant, the Ministry of Education and Human Resources Development said Wednesday. A ministry official said the study program is designed to help the students get acquainted with engineering, computers and other high technologies.. ..Each student will be given an annual scholarship of $40,000 by the Saudi government and is expected to enroll in a Korean-language course for about one year before starting a degree course.." [more]

Saudi Women Seek to Break Male Domination of Airport Services [Feb 21]
"The Arabian Aircraft Services Company (Arabasco) has broken the male domination of the frontlines at Saudi airports by hiring five Saudi women to work at the company’s counters that provide services to VIPs at the private terminal of King Abdulaziz International Airport in Jeddah. The women were assigned to female customer service, thus ushering in a new field for Saudi females at airports where the available jobs had been limited to female inspectors and security staff.. ..Suwaylim said that this successful experience is an example that encourages the employing of women at all airports in the kingdom, particularly to facilitate services for women as dictated by the conservative particularities of Saudi society, a step that will provide a larger number of job opportunities and contribute to reducing unemployment among Saudi females.." [more]

Kingdom Considers Medicine Import Company [Feb 21]
"The government is considering a proposal by the Ministry of Health to establish a company that will be responsible for drug imports, according to the London-based Asharq Al-Awasat. The paper said the idea was the brainchild of Obaid Al-Obaid, undersecretary at the Ministry of Health for planning and development. The paper quoted him as saying that such a company would help unify purchase prices of all medicines for all public health sectors in the Kingdom, including military hospitals. Another objective, he said, is to enable the ministry to purchase drugs at competitive prices, which would help save millions for the treasury.." [more]

Kingdom Finds New Oil Well [Feb 21]
"Saudi Aramco has uncovered a new oil well in the Kingdom’s Eastern Province, SPA state news agency reported yesterday. The well will be able to produce daily almost 4,000 barrels of oil and 11.9 million cubic feet (336,970 cubic meters) of gas, it quoted Minister of Petroleum and Mineral Resources Ali Al-Naimi as saying. Saudi Arabia is
the world’s leading oil producer and has reserves totaling 261.2 billion barrels, or more than a quarter of the global total.." [more]

Saudi Poll Campaign Goes Online [Feb 20]
"Saudi pro-reform activists say they have begun an online petition calling for elections with men and women voters and greater freedom of expression. They say they plan to present the signatures to King Abdullah next month. The petition was initially circulated in private, activists say, but was put on the internet after 10 organisers were arrested at a meeting this month. The authorities have denied the arrests were linked to the issue. The men have been accused of funding Iraq militants. By placing their petition on the internet the Saudi activists are taking an enormous risk.. ..Saudi authorities have made it clear they will not tolerate public calls for political change.." [more]

Saudi School's Regret Over Books [Feb 20]
"The director of an Islamic school says she should have immediately "chucked out" books that landed it at the centre of a religious intolerance row. Dr Sumaya Alyusuf of the King Fahad Academy said no one there had read the texts, parts of which label Jews as "repugnant" and Christians as 'pigs'. But she told the Guardian newspaper they had no place in the school. Schools minister Jim Knight has ordered an inquiry into the Saudi-funded independent school in west London.. ..Dr Alyusuf agreed to remove the passages in question from the books some time after the controversy hit the headlines.." [more]

Saudis May Make Weapons With US [Feb 20]
"The United States is planning to jointly produce tank components, light armoured vehicles and other products in Saudi Arabia, according to a senior US military official. 'Our biggest co-production project in the Middle East is in Egypt, where we jointly produced 1025 M1A1 tanks. In Saudi Arabia we are still in the planning phase, though the project initially will not be as big as what we have in Egypt, but there is good potential for growth there' .. ..With growing security concerns, Anderson said, demand for
air-defence systems and infrastructure protection have surged in the region.." [more]

Mechanism Urged to Counter Propaganda [Feb 20]
"A number of Muslim scholars have called for the creation of a mechanism to advocate Islam and its tenets and respond to the allegations labelling Islam as the religion of violence and hatred. The scholars were speaking at a symposium titled "The World and the Culture of Hatred" organised yesterday in Riyadh on the sidelines of the annual National Festival for Heritage and Culture. The event, organised by the Saudi National Guard is in progress here.. ..He pointed out that the Zionists also adopt racial and intolerant ideologies believing they are the preferred people of God and that it is their right to wipe out Palestinians. He indicated that the Pope's remarks about Islam last year demonstrated ignorance of the reality of Islam, adding that this runs contrary to any objective study of Islam.." [more]

Saudi 2006 Gold Demand Down 16.4% [Feb 20]
"Gold demand in Saudi Arabia fell 16.4% in 2006 from 2005 due to price volatility in the first half of the year, the World Gold Council said yesterday. But the WGC was more upbeat on the demand outlook for 2007 following a period of more stable prices later in 2006. The slide in Saudi equities last year might also have hurt the appetite for gold of the Gulf’s largest consumer, said John Sfakianakis, chief economist at SABB bank. Gold demand in Saudi Arabia came to 128.1 tonnes in 2006, down from 153.2 tonnes in 2005. But demand rose 14.7% in the fourth quarter from the same period a year earlier.." [more]

Bids to Operate Duty Free Shops Under Study [Feb 20]
"The Civil Aviation Authority is studying 20 offers submitted by international and local bidders to operate duty free shops at airports in the Kingdom. Civil Aviation Authority President Abdullah Rahemi told Arabic language newspaper Al-Jazirah seven international and five local companies have offered to run duty free shops. The names of the winning bidders would be announced within 10 days.. ..the Authority would award the operational contracts to national companies in partnership with foreign entrepreneurs.." [more]

Saudis Dismayed at Chevening Suspension [Feb 20]
"Saudi students have expressed concern over a decision made by the British Embassy canceling the Chevening Scholarship program for the Kingdom saying there were not enough subscribers.. ..Abdulmohsen Al-Subaie, an English teacher at Al-Jwaharee High School, said he was devastated by the news. It’s wrong to say that there was not enough demand. I know many Saudi students who are aspiring to go to Britain for higher studies. Moreover, there is no link between the government’s decision to send Saudi students to different countries, including Britain, for higher studies and the cancellation of the Chevening Scholarship scheme,' he said, adding, 'I hope that the British government’s decision could be reviewed in the larger interest of our bilateral relations'.." [more]

Akhtar in Kingdom for Bilateral Talks [Feb 20]
"Pakistan’s Minister of Commerce Humayun Akhtar arrived here yesterday to participate in the Eighth Saudi-Pakistan Joint Ministerial Committee meeting to be held at the Royal Conference Palace today.. ..A Pakistan Embassy spokesman told Arab News that the seven-member Pakistani team led by Akhtar will hold talks with a Saudi team headed by Dr. Yamani on issues related to trade, commerce, investment, education, Haj and Umrah. They are also expected to discuss free trade agreement with the GCC countries. He said the two parties are expected to sign an agreement tomorrow. Bilateral trade between Saudi Arabia and Pakistan annually averages around $2.5 billion.." [more]

OPEC Basket Price Stands at USD 53.58 a Barrel [Feb 20]
"The price of Organization of Petroleum Exporting Countries' (OPEC) basket of eleven-crude spiked two cents and stood at USD 53. 58 a barrel on Monday, compared with USD 53.56 the previous day, OPEC's news agency, OPECNA, reported on Tuesday. The yearly price average of the basket for 2006 reached USD 61.08 a barrel, OPECNA said. OPEC began cutting production levels by 500,000 barrels a day, effective from February 1, as it stipulated production cuts of 1.2 million barrels a day a few months ago, which made the organization's production settle at 26.3 million a day.." [more]

Corruption Clamp Backed [Feb 20]
"Saudi Arabia has approved a plan to clamp down on corruption, which newspapers said would target officials regardless of rank. The Saudi cabinet approved the 'national strategy to protect integrity and fight corruption' at a meeting chaired by King Abdullah, the SPA news agency said. It gave no details. Newspapers Asharq Al Awsat and Arab News said the plan could open government officials to investigation. '(It calls for) reducing and simplifying procedures and for applying the principle of accountability to all officials regardless of their positions' .. ..The announcement is the first move to crack down on corruption since King Abdullah, who came to power on a reform agenda in August 2005, pledged to fight graft last year. 'This will help the country improve its image in the Gulf region, especially among foreign investors,' a Western diplomat said.." [more]

Saudi Gives Critical Us$1 Million Donation To Guinea [Feb 19]
"The United Nations World Food Programme (WFP) today thanked the Kingdom of Saudi Arabia for a US$1 million donation to its operations in Guinea, where humanitarian needs have been accentuated as a result of the current unrest that comes at a time when many people are struggling with loss of income and growing poverty rates.. ..An increasingly significant donor to WFP operations, the Government of Saudi Arabia has contributed over US$33 million last year alone, a tenfold increase compared to 2005. Saudi individuals and associations have donated nearly US$10 million over the past two years. In the Middle East, Saudi Arabia is by far the biggest donor to WFP's global activities and the Kingdom has become the 16th largest donor overall to the UN food aid agency in 2006.." [more]

The New Saudi Arabian Healthcare Market [Feb 19]
"..'Saudi Arabia’s healthcare system is ripe for investment opportunities,' said Mr. Ziad Fares, Booz Allen Hamilton Health Expert. 'The growing affluence of Saudi Arabia and the GCC region as a whole will mean that the healthcare systems of these nations will need both money and expertise from outside sources in order to cope with an aging, yet well-to-do population'.. ..The Saudi government has recognized this situation, and has identified healthcare as one of the key sectors targeted in its wide-ranging privatization program.." [more]

Riyadh Seeks Dutch MP's Apology for Offensive Remarks [Feb 19]
"Saudi Arabia wants an apology from a Dutch politician who said Muslims should "tear out half the Quran" if they wanted to live in his country and has asked the Dutch government to intervene, a Saudi newspaper said yesterday. The Dutch government, which said it did not agree with the remarks made by populist anti-immigration politician Geert Wilders, confirmed that foreign ministry officials held informal talks last week with the Saudi embassy in The Hague.. ..Wilders, who has lived under heavy guard since 2004 when a Dutch-Moroccan killed filmmaker and Islam critic Theo van Gogh, has campaigned to ban the veil, wants to freeze immigration and ban new mosques and religious schools. The Dutch news agency ANP quoted Wilders as saying yesterday he would not retract his remarks. "I would not dream of taking any of it back," Wilders said.." [more]

Saudi Arabia’s Nominal GDP Reaches SR1.30 Trillion in 2006 [Feb 19]
"A correction in the stock market failed to have a major impact on Saudi Arabia’s economic performance last year. Saudi Arabia’s economy was in fact exceptionally sound and robust in 2006. After joining the World Trade Organization (WTO), Saudi Arabia embarked on the mammoth projects of economic cities which will have a long-lasting impact on the macro-economic policies and on the fundamental structure of the Saudi economy.. ..Saudi Arabia’s nominal gross domestic product (GDP) is estimated to have grown by 12.4 percent in 2006, reaching SR1.30 trillion ($346.9 billion) while real GDP is estimated to have grown by 4.2 percent to SR799.9 billion ($213.3 billion).." [more]

Rights Group Hails Saudi Invite but Complains of Restrictions [Feb 19]
"Human Rights Watch said the Saudi government has shown a new willingness to discuss domestic human rights after inviting the watchdog to the kingdom, but complained that authorities blocked access to trials and prisons.. ..'The Saudi government’s invitation to HRW reflects a newfound openness towards discussing domestic human rights issues,' said Sarah Leah Whitson, HRW’s Middle East and North Africa director. The governmental Saudi Human Rights Commission arranged access to a wide range of high-level officials, while several ministers expressed their desire to invite HRW back to the kingdom to discuss the findings in detail, the statement said.But the rights group said the movement of its mission was restricted.." [more]

Joint Panel to Discuss Makkah Agreement [Feb 18]
"The Saudi-US Committee for Strategic Dialogue will hold its third session in Riyadh this week. The session will be co-chaired by Prince Saud Al Faisal, the Saudi Foreign Minister, and his US counterpart Condoleezza Rice.. ..During its one-day session, the committee will also discuss developments in the region including the latest agreement concluded in Makkah between the two main Palestinian factions, Fatah and Hamas, as well as the situations in Iraq, Lebanon and Iran's nuclear programme. Gulf News has learnt that the committee will review reports of the six ad hoc committees emanating from the Saudi-US Committee for Strategic Dialogue.." [more]

Saudi Index Hits 8,000 [Feb 18]
"Banking shares powered Saudi Arabia’s stock index above 8,000 points for the first time in almost two months yesterday, but analysts say profit taking in the next few days may erode some gains from an eight-day rally.. ..Saudi Arabia’s market has gone from the Gulf’s worst performer this year to the region’s third-biggest gainer after a rally beginning Feb. 6 drove the index up 12.4%.. ..'There was a switch in Saudi this month from investing in day-trading stocks to investing for the long term,' said Youssef Kassantini, chief executive of Bourse Experts, a stock market consultancy in Riyadh.. ..The four largest companies on the index have accounted for 75% of the rally that has added almost 1,000 points in less than a month, Kassantini said.." [more]

First NAS Flight Takes Off in Saudi Arabia [Feb 18]
"The National Air Services (NAS) a private Riyadh-based, low cost airline, yesterday operated its first flight between Riyadh and Jeddah.. ..The second phase will start in March with flights to three Saudi cities. A high volume of passengers was recorded on the first day with more than 2,500 booked on the company's flights during the first 24 hours since the company announced the activation of its booking service.. ..NAS is planning to increase its domestic destinations to 23 by the end of the second year of
operations before launching international flights.." [more]

King Abdullah Economic City Opens Investor Registration for Industrial Zone [Feb 18]
"King Abdullah Economic City (KAEC), the path-breaking development by Emaar the Economic City (Emaar.E.C), has opened investor registration for its Industrial Zone. The first phase of the 63 million sq metre zone dedicated to industries will be launched soon and potential investors can register on-line at www.kingabdullahcity.com.. ..The Industrial Zone will have specific initiatives to encourage local entrepreneurs through incubator-like modules. International experts have already been consulted – and will work hand-in-hand with Emaar.E.C management – to ensure that the development is in line with the best environmental practices. With the Saudi Arabian General Investment Authority (SAGIA) as the project’s prime facilitator, KAEC has the potential to create one million jobs. The mixed-use development with commercial, residential, industry and hospitality components is expected to be home to over two million people.." [more]

NAS Says Yes to IPO [Feb 18]
"NAS Air, Saudi Arabia’s first ‘no frills’ airline, says that it is planning an initial public offering (IPO) as early as 2008 in order to fund expansion following its first commercial operations later this month. “NAS will hopefully be eyeing an IPO for 2008-2009,” Taher Agueel, NAS chief executive, said. “NAS is developing itself to be the leading aviation services provider in the region.” The company said in December it would spend US$2bn on 75 planes and create a fleet of 100 by 2010.." [more]

Gul Discusses Regional Issues [Feb 18]
"Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with visiting Turkish Deputy Premier and Foreign Minister Abdullah Gul on major regional issues with focus on Palestine. The talks were also attended by Foreign Minister Prince Saud Al-Faisal.. ..'Gul’s visit to Riyadh is significant keeping in view the official tour of Israeli Prime Minister Ehud Olmert to Ankara early this week and his approval of a proposed Turkish inspection of construction work near Al-Aqsa Mosque, which sparked violent Palestinian protests and angered Muslims across the world,' a Turkish official said. Naci Koru, the Turkish ambassador to the Kingdom, said, 'Gul’s talks covered regional subjects with special reference to the Middle East peace process'.." [more]

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