Saudi-US Relations Information Service

Keeping Track - Recently on SUSRIS










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Israel Hardens its Peace Terms Ahead of Saudi Arab Summit [Mar 3]
"Israel has begun staking out its minimum conditions for any attempt by 'moderate' Arab regimes to advance a peace process with the Palestinians, in the apparent hope of influencing a Saudi-convened Arab summit later this month. Tzipi Livni, the Israeli foreign minister, told the Palestinian newspaper Al Ayyam that 'it was impossible to accept' the Saudi-inspired peace plan launched at the Beirut Arab League summit five years ago 'in its current formulation'.. ..The importance Israel has attached to the Riyadh summit, which will review and, according to Israeli sources quoted in Ha'aretz yesterday, possibly modify the peace plan, appeared to underline the increasingly pivotal importance of Saudi Arabia's King Abdullah in the diplomacy of the region.." [more]

Saudi Filmmaker Lacks Visa for Festival [Mar 3]
"A rare Saudi Arabian feature film will make its American debut at a film festival in Manhattan tomorrow night, but its director, unable to secure a visa in time, will remain in Riyadh, left to ponder the realities of artistic exchange in an era fraught with suspicion. 'I am sad that I could not be able to be in the United States to bridge the gap between the culture of our two societies, to know the people, and explain what is needed to be explained during my projection,” the director, Abdullah al-Muheisin, said in a telephone interview from Riyadh. His film, “Shadow of Silence,” is set in an unnamed Arab country, and follows the travails of a woman who enlists a group of Bedouin tribesmen to free her husband from a state institution set up, according to the festival summary, to “manufacture unthinking citizens'.." [more]

Saudi Telecom Signs $7m Deals With Sun Microsystems [Mar 3]
"The Vice President of the Saudi Telecom Company (STC) said that the company has signed two agreements with Sun Microsystems Inc. at a total value of nearly $7 million, Khaleej Times reported. The official pointed out that that the agreements appoint Sun as STC's major provider of IT infrastructure hardware, software, professional services and support needs. He added that the two companies are resuming previous cooperation in the field of telecommunications tecknology. Saudi Arabia represents a key market for Sun Microsystems, which has opened offices in Jeddah, Riyadh and Al-Khobar.." [more]

GCC Stock Markets Suffer SR3 Trillion Loss [Mar 3]
"Stock markets in Saudi Arabia and other Gulf Cooperation Council (GCC) states suffered a loss of SR3 trillion in the past one year as a result of crash, according to Majed M. Garoub, regional secretary-general of the International Federation of Lawyers for the Middle East. 'As a result of stock market debacle that began in February last year assets of Gulf shares fell by 60 percent. About 30 million Gulf citizens with a wealth of more than SR6 trillion are still going through a stock market crisis,”'Garoub said. The second Capital Market Forum in Dubai, which opens today, would be attended by a large number of international organizations. There are nearly 700 joint stock companies in the Gulf countries and 300 financial consultancy houses.." [more]

Ministers to Discuss GCC-IAEA Meeting Outcome [Mar 3]
"Foreign Minister Prince Saud Al-Faisal will chair on Saturday a meeting of foreign ministers of the Gulf Cooperation Council (GCC) to discuss the outcome of talks with the International Atomic Energy Agency (IAEA) over GCC plan to develop nuclear energy for peaceful purposes. “The ministers will assign a special committee to conduct a joint study on the program after IAEA expressed its readiness to provide technical support to carry out the preliminary feasibility study,” GCC Secretary General Abdul Rahman Al-Attiya said in a statement. Last month, the six-nation GCC and nuclear watchdog IAEA agreed to cooperate on a feasibility study on regional plans for a nuclear energy program.." [more]

Egypt Mediates Between Saudi and Syria [Mar 2]
"Arab diplomats said Egypt is trying to mediate between Saudi Arabia and Syria to close their chasm ahead of the Riyadh Arab summit later this month. Diplomats in Cairo told United Press International that Egyptian President Hosni Mubarak spoke to Syrian President Bashar Assad after the first held talks with Saudi King Abdullah during a visit to Riyadh Wednesday. "Mubarak relayed to Assad the Saudi desire to see more positive Syrian stands towards efforts exerted by Riyadh to resolve the various issues in the region, especially the Lebanese crisis," said one diplomat on condition of anonymity. Saudi-Syrian diplomatic tension was triggered last summer when Assad sharply criticized Arab leaders who denounced Lebanon's Hezbollah abduction of two Israeli soldiers in a cross-border operation last summer, prompting a 34-day war.." [more]

Rare Visit by Iranian President to Saudi Comes at a Crucial Time [Mar 2]
"Iran's president will make a rare visit to Saudi Arabia, a major U.S. ally, to hold crucial talks with the Saudi monarch on several key issues of international and regional concern, an Iranian official said Friday. President Mahmoud Ahmadinejad will visit Saudi Arabia Saturday for talks with Saudi King Abdullah, Iran's ambassador to Saudi Arabia, Mohammad Hosseini was quoted as saying by the official Islamic Republic News agency. The trip suggests that weeks of talks between envoys from the two countries on the conflicts in Iraq and Lebanon have made some headway.." [more]

Murders of French Tourists Will Not Hit Ties [Mar 2]
"The recent murder of four French tourists will not affect the strong, deep-rooted Saudi-French relations, said an official at the Saudi embassy in Paris.. ..In press statements published yesterday, Waleed Qattan, head of political affairs section at the Saudi embassy in France, noted that the French media have expressed surprise of the terrorist attack following the significant success made by the Saudi security forces in containing terrorism in the Kingdom. He added that both French President Jacques Chirac and Foreign Minister Philippe Douste-Blazy have condemned the attacks and expressed confidence in the capabilities of the Saudi authorities in moving to arrest the killers and bring them to justice.." [more]

Saudi Arabia Expected to Cut Price of its Heaviest Crudes [Mar 2]
"Saudi Arabia will likely cut the price of its heaviest, fuel-oil rich crudes to Asian buyers for April as the fuel oil crack has weakened, traders said yesterday. Heaviest Arab Heavy crude could bear the brunt of the cuts. Its discount to Oman/Dubai could widen by up to 60 cents to a $5.20 discount, as Saudi Arabia is considered unlikely to further cut exports to Asia, traders added.. ..The front-month fuel oil crack to Dubai swaps has weakened by some $1.15 in February from January, as the tightening of supplies felt in January ahead of the Chinese New Year has eased, Reuters data show.." [more]

Saudi to Privatise its Cargo Business [Mar 2]
"Ahead of its planned privatisation, Saudi Arabian Airlines is planning to divide its company structure into five business units. The airline will also privatize its cargo business before the end of this year. The different business units will all perform air operating activities for different target markets. The units will be a low-cost carrier, a main carrier, a regional carrier, a carrier dedicated to transporting Muslim pilgrims who visit Islam's holiest shrines and another for VIPs and royal family members.." [more]

US-Saudi Trade Grows to $39.5b in 2006 [Mar 2]
"Trade between Saudi Arabia and the United States grew 16 per cent to a record 148.11 billion Saudi riyals ($39.49 billion) last year, compared to 127.52 billion Saudi riyals ($34 billion) in 2005. The trade balance remains heavily tilted in favour of Saudi Arabia with a surplus of 89.55 billion Saudi riyals which is an increase of 17 per cent compared to 2005 where the Saudi trade surplus with the US was 76.42 billion riyals. In 2006 also, the value of Saudi exports to the US touched 118.8 billion riyals compared to 101.9 billion riyals in 2005.. ..Saudi Arabia provides excellent growth opportunities for US companies in a number of diverse industries. Hernandez's mission aims at boosting business and investment ties between the two countries.." [more]

Authorities Haven’t Ruled Out Suspect in Monday’s Shooting [Mar 2]
"Saudi authorities have not ruled out that Waleed Al-Radadi, one of the Kingdom’s most wanted criminals, was involved in Monday’s shooting that left four French nationals dead, the daily Al-Watan reported yesterday. A source told the newspaper that authorities are looking for a green 1998 Nissan four-wheel drive that was used in the shooting.Al-Radadi’s name appeared on a list of most-wanted terrorism suspects released by the Interior Ministry in 2005, and is believed to be from the city of Madinah.. ..The newspaper reported that foreign companies operating in the Kingdom have increased their level of security, especially those operating in the region where the killings took place. Foreign missions in the Kingdom have issued updated warnings following the attacks.." [more]

JCCI Center for Women in Business to Host Forum [Mar 2]
"Princess Adilah bint Abdullah will host a forum sponsored by the Khadija bint Khuwailid Center for Businesswomen of Jeddah Chamber of Commerce & Industry (JCCI) on March 19-20 at the Jeddah Hilton Hotel. The forum, titled “The Reality of Women’s Participation in National Development” will focus on Muslim women in business. The event will highlight role models for Saudi women business executives and entrepreneurs.. ..The goal of the forum is to get feedback from some 1,000 expected participants in developing future projects to assist Saudi women in business.." [more]

Dammam on Bird Flu Alert [Mar 2]
"The Eastern Province has been put on a state of alert to prevent the outbreak of bird flu after the neighboring Kuwait confirmed seven more cases of the avian flu strain that is dangerous to humans, reported Al-Hayat Arabic daily Thursday. Director General of Agricultural Affairs in the Eastern Province Saad Al-Meqbel said research teams assigned to conduct serological examination on migratory and wild birds in their habitat in the region are working according to the emergency plan. 'The research teams are conducting a comprehensive survey of all types of migratory and wild birds. The teams have already surveyed all coastal areas in the Eastern Province from Ras Qaryia in the south to Khafji in the north'.." [more]

W H O Appreciates Kingdom’s Polio Eradication Drive [Mar 2]
"The World Health Organization (WHO) recently presented Saudi Arabia with a certificate of appreciation for its success in eradicating the poliomyelitis disease, commonly known as polio. 'This could not have been achieved without Allah’s assistance and the decent care and generous support of the government of the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz,' Health Ministry spokesman, Khaled Marghalani, told The Saudi Gazette. 'The Kingdom has not reported any cases of polio since 1995.” Marghalani said the Minister of Health, Hamad Man’e, will hold a ceremony in honor of the achievement Saturday. ." [more]

Key Facts on Iranian-Saudi Relations [Mar 2]
"Iranian President Mahmoud Ahmadinejad will go to Saudi Arabia on Saturday for talks on regional issues, an Iranian official said on Thursday. Iran's top nuclear negotiator Ali Larijani visited Saudi Arabia earlier in February for talks on Iran's nuclear energy program, which is opposed by the West and Saudi Arabia. Here are some details on the ups and downs of relations between the two countries over the last 20 years.." [more]

Iranian President to Visit Saudi Arabia Next Week [Mar 1]
"Iran's President Mahmoud Ahmadinejad is expected in Saudi Arabia this weekend a Saudi Foreign Ministry official said Thursday of the visit that will cap weeks of intensive talks between the two countries to resolve simmering conflicts in the region. The Saudi official said Ahmadinejad will arrive Saturday for a one-day visit. He spoke on condition of anonymity because he is not authorized to give statements to the media. Iran's official IRNA news on Wednesday quoted Iran's ambassador to Riyadh, Mohammad Hosseini, as saying that Ahmadinejad's visit to Saudi was "imminent" but didn't give any further details.." [more]

Saudi Arabia, Yemen to Establish $100m Joint Investment Fund [Mar 1]
"The Yemeni Minister of Planning and International Cooperation announced that Saudi Arabia and Yemen have agreed to create a $100 million joint fund to carry out studies on investment opportunities between the two countries, Arab News reported. The minister, who was addressing a meeting at the Jeddah Chamber of Commerce and Industry (JCCI), said that the two countries have also agreed to form a Saudi-Yemeni committee as an initial step towards establishing the fund.." [more]

Profit-Taking Extends Saudi Losses [Mar 1]
"Saudi stocks fell for a third straight day yesterday with profit-taking and a global rout pulling the largest Arab bourse down 1.65%. The Saudi index, which ended its longest bull run in 18 months on Tuesday, closed at 8,176.37 points after trading more than 2.5% down for much of the session. Eight of the 10 largest stocks ended the day lower.Kuwait’s index edged down 0.17% to close at 9,752.60 points, paced by Kuwait Finance House.." [more]

Saudi Licence Offers Last Big Opportunity in the Gulf [Mar 1]
"The auction for the third Saudi Arabian mobile operator licence presents one of the last great opportunities for regional players that want to make a significant impact in the Gulf region.. ..The Saudi market is the largest in the region in terms of inhabitants, and has a relatively wealthy population whose demand for mobile services has yet to be saturated. The Saudi mobile market is already home to two of the region's largest players: domestic incumbent Saudi Telecom Company (STC) and UAE's Etisalat, through its 35% stake in Mobily.." [more]

Remittances Pour Out of Saudi Arabia [Mar 1]
"About 70 per cent of Saudi Arabia's $14 billion in outbound remittances goes to South Asia, a senior company official said. "Saudi Arabia is the biggest market for us in the Gulf and the UAE is also very, very important too," Hikmet Ersek, executive vice president and managing director for Europe, the Middle East, Africa and South Asia of Western Union, told Gulf News. "Of the $14 billion remittance industry in Saudi Arabia, 60 to 70 per cent of the money going out is going to South Asia and the
Philippines.." [more]

Consortium Signs Deals for Saudi Power Plant [Mar 1]
"A consortium composed of ACWA Power Projects, Gulf Investment Corporation (GIC), and Mitsubishi Corporation yesterday entered into a series of agreements with Water and Electricity (WEC) for the development of the $1.9 billion Shuqaiq Independent Water and Power Project (IWPP). The project, on the southwestern coast of Saudi Arabia, consists of a thermal power plant and a reverse osmosis technology desalination plant together with all support facilities.. ..The Project is the second IWPP being developed by WEC and represents a major development in the Saudi water and power sector to help satisfy the increase in demand.." [more]

Kingdom’s Oil Output Up to 10.7 Million bpd in ’06 [Mar 1]
"Saudi Arabia’s oil output increased to 10.7 million barrels per day (bpd) by the end of 2006, according to Abdullah Jumah, president and chief executive of Saudi Aramco.“Among the company’s accomplishments in 2006 were the optimization of upstream operations and development and depletion strategies to meet crude demand and increase maximum sustained capacity to 10.7 million bpd,” he said. Jumah made this comment while addressing a meeting of the executive committee of the company’s board of directors in Dhahran.." [more]

Don’t Delay Ending Crises, Says Moussa [Feb 28]
"Arab League Secretary-General Amr Moussa said yesterday that impediments such as regional politics and international policies that produce disorder and slow down the economic development of the region had to be addressed in order to ensure sustained growth.. ..“Political stability is a prerequisite for sustained development. But how can it be sustained when the region is threatened by acute and delicate issues in Palestine, Lebanon and Iraq, with sectarian, ethnic and other types of strife?.." [more]

Saudi King Vows to Punish Trouble Makers [Feb 28]
"Saudi King Abdullah on Tuesday said the fatal shooting of four Frenchmen near the holy city of Medina on Monday was an act of terrorism. 'Whoever carried out this terrorist act against innocent people will not escape justice,' the state-owned Saudi Press Agency quoted him as saying. King Abdullah made these comments in a telephone conversation with France's President Jacques Chirac.. ..The Saudi cell of al-Qaeda had previously threatened to 'cleanse the Arabian peninsula of infidels'. The Saudi interior
ministry said it was investigating into the assault.." [more]

$1.9 Billion Saudi IWPP Contract Signed [Feb 28]
"A consortium of leading companies today signed a series of agreements with Saudi Arabia’s Water and Electricity Company (WEC) for the development of the $1.9 billion Shuqaiq Independent Water and Power Project (IWPP). The consortium comprises ACWA Power Projects, Gulf Investment Corporation (GIC), and Mitsubishi Corporation.The project, to be developed on a BOO (build, own, operate) basis, will be located at Shuqaiq, on the southwestern coast of Saudi Arabia and will substantially increase
power and water supplies to the south region.." [more]

Experts Call for Developing Energy Sector [Feb 28]
"A Saudi oil expert yesterday called for insulating the Kingdom from oil-price fluctuations, as this would enable diversification and developing the energy sector. 'We must draw the right lessons from the previous booms. We must have economic reform independent of oil revenues. This is required if the Kingdom has to meet the challenge of developing the energy sector,' Majid Al-Moneef, Saudi Arabia governor to OPEC, told the morning session of Jeddah Economic Forum 2007. 'Such a shift from the oil
dependence to the energy sector will also lead to the participation and investment of the private sector'.." [more]

Saudi Inflation is Highest in 5 Years [Feb 28]
"Inflation in Saudi Arabia climbed in December to its highest in at least five years as economic growth in the kingdom strained supply and drove up prices, data published by the central bank on Tuesday showed. Annual inflation in December quickened to 2.9% from 2.8% in November, according to data on the website of the Saudi Arabian Monetary Authority (SAMA). 'Inflation under 3 per cent for a country growing at Saudi Arabia's pace is still fairly low,' said Simon Williams, economist at HSBC bank in
Dubai. 'But the upward trend may be a matter of some concern to SAMA.'.." [more]

Exxon and Aramco to Sell Fuel Oil Cargoes [Feb 28]
"Saudi Aramco and ExxonMobil have offered to sell one cargo each of end-March high-viscosity fuel oil from their joint-venture refinery in Yanbu for a total 170,000-180,000 tonnes, traders said yesterday.. ..Traders expect both deals to be concluded at lower prices than Middle East trader FAL Oil's purchase last week at a discount of $4-$5 a tonne to Singapore spot 380-cst quotes, C&F, equivalent to an FOB discount of $13-$14.. ..Higher-than-usual spot volumes have come from the Yanbu refinery this year after Aramco opted not to sell any barrels from the refinery on a long-term basis this year.." [more]

Pakistani in 17m Riyal Forgery Arrested [Feb 28]
"Considered as the biggest of its kind in five years, the Saudi passports anti-forgery squads in Jeddah have arrested a Pakistani involved in forgery operations worth more than 17 million Saudi riyals.. ..The expatriate had been monitored for the past three months, the statement added. Millions of foreigners come to Saudi Arabia every year to perform Hajj and Umrah pilgrimages. Thousands of them stay to look for jobs. The Saudi authorities are exerting tremendous efforts to eliminate the number of overstayers and forgers. Saudi Arabia is sending back thousands of foreign illegal overstayers every year.." [more]

Opportunities Open Up for Saudi Women [Feb 28]
"Saudi businesswomen boasted of slowly growing opportunities at an annual forum that closed yesterday, even as the Kingdom’s strict form of official Islam forced their segregation from their male colleagues. Participants in the Eighth Economic Forum in the country’s commercial capital of Jeddah said more was needed to be done to help women fulfil their potential but said the obstacles were more social than political. Women have made lots of progress in the past five years,” said Sarah Baghdadi, the first woman to serve as executive director for public relations of the Jeddah Chamber of Commerce and Industry.. ..She said the government was in favour of women working. 'The challenge comes from society,' with men unwilling to share the household responsibilities of working wives. 'Women’s problem is social rather than political'.." [more]

Saudi Ambush Claims Fourth Victim [Feb 27]
"A French teenager has died of his wounds after a shooting in Saudi Arabia, raising the death toll to four. Saudi sources told the BBC police were treating Monday's ambush as terrorist- related, the first deadly attack on foreigners in nearly three years. The identities of the dead - all French nationals - have not been released.. ..The road where the attack occurred is reported to be restricted to Muslims only, as it leads to the Islamic holy city of Medina. However, a French diplomat quoted by the French news agency AFP said that three of those shot dead were not Muslims. The French foreign ministry said two of the victims were employees of the electrical equipment manufacturer Schneider Electric, and one was a teacher.." [more]

U.S., Saudi Policies Diverge On Iran [Feb 27]
"Saudi Arabia and Iran are engaged in talks on defusing the crisis in Lebanon. Saudi efforts to contain and engage Iran simultaneously could succeed at the regional level, but could also strain U.S. relations and promote long-term sectarian tensions between Sunni and Shia Arabs. Moreover, the Saudi strategy holds little prospect for changing the situation in Iraq. Riyadh is playing a subtle balance-of-power game with Iran, looking to reduce growing Iranian influence in the Arab world while avoiding open confrontation.. ..The Saudi strategy fits into U.S. efforts to mobilize a "moderate" bloc of Arab states against Iran. However, Saudi tactics on two fronts risk working at cross-purposes with Washington.." [more]

Top Level Analysis of Saudi Changing Capital Markets Sector [Feb 27]
"The most authoritative review of Saudi Arabia’s capital markets is underway following a tie up between HSBC Saudi Arabia Limited, the Kingdom’s first global investment bank, and Oxford Business Group (OBG), the publisher of the world’s most insightful business intelligence guides. Working together with HSBC Saudi Arabia, OBG will produce an essential review of the Kingdom’s capital markets sector for inclusion in its ‘The Report: Emerging Saudi Arabia 2007”.. ..'The Report: Emerging Saudi Arabia 2007' will be available in the second quarter of this year.." [more]

'No Evidence' of UK-Saudi Bribery [Feb 27]
"Britain's Serious Fraud Office found no evidence of bribery in a huge arms deal with Saudi Arabia and the investigation will not hurt business ties, a prominent British parliamentarian said. "The reason they did not find anything is because there was nothing to find," said Elizabeth Symons, a former security and defence procurement minister who is a member of the House of Lords (upper house) and co-chairs the Saudi British Business Council. The SFO dropped its corruption inquiry last December into the multi-billion dollar Saudi deal with BAE Systems.." [more]

Saudi Arabia Attempting To Persuade Syria Over Lebanon Rift [Feb 27]
"Saudi Arabia is attempting to persuade Syria to accept an international tribunal in Lebanon to try suspects in the killing of former Lebanese Prime Minister Rafiq Hariri, Lebanon's Central News Agency (CNA) reported. The international tribunal has been a key source of tension between the Lebanese National Opposition led by Hezbollah and the government of current Prime Minister Fouad Siniora. Syrian and Saudi Arabian officials are expected to meet in Spain in coming days in order to discuss the matter further. It would be the first meeting between senior officials from both countries since a rift widened after last summer's Israel-Hezbollah war.." [more]

Saudis Seek to Boost Jobs for Nationals [Feb 27]
"Saudi officials are considering increasing the cost of expatriate workers for the private sector, as a way of tackling rising unemployment and making the recruitment of young Saudis more attractive. Foreigners, mainly Asians who are willing to accept lower salaries and work longer hours, dominate the job market. But the influx of expatriates since the 1970s - there are some 6.5 million foreign workers in Saudi Arabia - has created a 'lower equilibrium wage' pricing Saudis, who tend to seek higher salaries, out of the market.. ..In spite of the oil boom, Saudi unemployment has risen from 9.7 to 12 per cent since 2002, because of the number of students graduating and the unattractiveness of the private sector for young Saudis.." [more]

Abdullah and Jordan’s King Discuss Key Issues [Feb 27]
"Custodian of the Two Holy Mosques King Abdullah and his Jordanian counterpart King Abdallah held talks in Riyadh yesterday on major regional issues, including Palestine and Iraq.. ..'King Abdallah’s visits to Riyadh and Cairo come ahead of his visit to the United States this weekend where he will discuss prospects of restarting negotiations between the Palestinians and Israelis and tackling other issues of the region,' SPA quoted Jordanian sources as saying. The meeting of the two kings also comes ahead of a March 28-29 Arab summit in Riyadh when Saudi Arabia is likely to press for a radical solution to the protracted Arab-Israeli conflict.." [more]

JEF Diary: American President’s Brother Building Bridges With Saudis [Feb 27]
"..It was during one such networking sessions that Arab News ran into Mr. Neil Bush, the younger brother of the US president. There was no cause to strike up a business negotiation with the affable brother of the current US president, who runs an educational software company with dealings in the Gulf region, but Arab News did take the opportunity to speak to him. 'The Jeddah Economic Forum has been very productive,' he said. 'I have been to this conference four times since 2002. I have seen it develop from the very beginning. There was less participation in the past, now there is more international participation'.. ..Bush says it is important to gain 'a more balanced perspective' on Saudi Arabia, and to let go of some of the stereotypes.." [more]

OPEC Cuts Should Balance Market [Feb 27]
"OPEC's existing oil output curbs should bring the world market into balance, the group's new Secretary-General said on Monday, less than three weeks before the exporter group meets to chart policy. Abdullah al-Badri, who took on OPEC's top job in January, also told Reuters he expects the world economy to remain healthy for the next five to six years and downplayed the idea of a so-called gas OPEC. OPEC oil ministers meet on March 15 to set output strategy and review compliance with deals to cut 1.2 million barrels per day (bpd) from November 1st and a further 500,000 bpd from February 1st.." [more]

Riyadh to Host Arab Summit, Invites Syria [Feb 27]
"Saudi Arabia, which has recently stepped up a diplomatic drive to counter non-Arab regional power Iran, will host an annual Arab summit on March 28-29, Saudi media reported yesterday. Saudi Arabia, which has traditionally preferred to play a behind-the-scenes role in regional conflicts, had said in 2006 it did not want to host an Arab summit this year, but the Arab League said in January Riyadh had changed its mind. The gatherings of Arab leaders are convened annually and it was Saudi Arabia’s turn to host the summit this year. Saudi Arabia did not give a reason for not wishing to hold the summit and its subsequent change of heart.." [more]

ExxonMobil, Saudi Aramco, China's Sinopec to Triple Fujian Refining Capacity [Feb 26]
"China Chemical & Petroleum Corp (Sinopec) said it has signed an agreement with ExxonMobil, Saudi Aramco and the Fujian provincial government to triple the capacity of its Fujian refining and ethylene joint venture project. Sinopec did not provide investment data in a statement published on its website. When the venture was announced in 2005, it carried a price of 3.5 bln usd. The capacity of the Fujian project, located in Quanzhou City, will be increased to 240,000 barrels per day from 80,000. The facility will refine and process mainly sour Arabian crude oil.." [more]

Plant Seeds for Future, says Rania [Feb 26]
"Jordan's Queen Rania Al-Abdullah stressed the concept of planting the seeds for the future in her address to the Jeddah Economic Forum on Sunday, maintaining that such a concept is a thread that links all humanity. 'There is grace and glory in the efforts we make to build a better world,' she said, 'even when those investments take decades to bear fruit...whether we are aware of it or not, we are planting today for tomorrow.' The Queen also referred to the enormous progress of Saudi women in being elected to the Jeddah Chamber of Commerce and as industry board members for the first time in history. 'This is the Arab woman we are proud of and the one many in the West do not know'.." [more]

Chinese Look to Stronger Ties With Saudi Arabia [Feb 26]
"Chinese leaders at the 8th Jeddah Economic Forum emphasized the importance of upcoming Saudi-Chinese joint ventures as well as the need to reinvigorate relations between the two countries. 'Saudi and Chinese bilateral economic cooperation has increased considerably within a very short time,'.. ..'Presently, we are working on 36 Saudi-China joint ventures,' Niu continued. 'Some SR 2 billion are involved in these ventures.”' Niu credited this activity as the result of strong bilateral efforts. If things continue at this pace, the prospects for both countries will be very bright in terms of joint trade agreements, he said. According to Li Goufu, a senior research fellow with the Chinese delegation, China is exporting high quality Chinese craftsmanship to the Kingdom, and this must be followed in the future with an increase in cultural exchange programs.." [more]

Riyadh Begins Arab Summit Preparations [Feb 26]
"Saudi Arabia has stepped up preparations for the upcoming Arab summit in Riyadh scheduled for March 28-29 to make the conference a success. Custodian of the Two Holy Mosques King Abdullah yesterday sent invitations to a number of Arab leaders including Egyptian President Hosni Mubarak and Syrian President Bashar Assad to attend the summit.. ..Arab League Secretary-General Amr Moussa said recently that the summit would discuss a string of regional issues, including the Palestinian-Israeli conflict and the Iraqi issue. He called on the international community not to stand idly on the situation in Iraq, but rather support Arab reconciliation efforts in the violence-ravaged country.." [more]

Commission Proposed to Protect Women and Children [Feb 26]
"Saudi Arabia is studying the establishment of a nationwide system under which a supreme commission would be established to protect women and children from violence.. ..Dr. Maha Al-Muneef, president of the National Family Safety Program in the National Guard Hospital. 'This system, if it is established, would have wide legislative powers to make laws and regulations to eradicate and combat violence against women and children,' she told Arab News. 'It is now with the committee in the Cabinet. We hope that it is established within the next few months,' she added.. ..'Violence against women and children should be fought just like any other problem such as AIDS or cancer,' she said, pointing out that as in many Arab countries, coordination between government bodies is a problem. 'Our problem is that each of our ministries works on its own'.." [more]

Muslim Foreign Ministers Hold Mideast Talks in Pakistan [Feb 25]
"Foreign ministers of seven prominent Muslim countries gathered in the Pakistani capital Islamabad Sunday to discuss a joint strategy for the Middle East ahead of a proposed leaders' summit in Saudi Arabia. Prime Minister Shaukat Aziz was to open the talks focusing on political and diplomatic initiatives to help resolve the Palestinian conflict and address the turmoil in Lebanon and Iraq, as well as rising tensions between the United States and Iran.. ..The ministers were scheduled to call on Musharraf and then hold a joint press conference on the results of the consultations, which would pave the way for a summit of leaders to be held in Saudi Arabia at a later date.." [more]

Saudi Official Underlines Success of Jeddah Economic Forum [Feb 25]
"Saudi Arabia's holy city of Makkah's Prince, Abdulmajid bin Abdulaziz Saturday said Jeddah Economic Forum has succeeded in triggering economic reforms over the past seven years.. ..He hoped the forum, which would conclude Tuesday, would continue the pace of economic reforms. The Jeddah Economic Forum 2007 is dubbed "Economic Reform: Flourishing Grounds and Expanding Horizons." Forum Chairman Sami Bahrawi urged participants to explore all means to reach all objectives of the forum. He said the organizers were willing to increase competitiveness of the Jeddah forum vis-a-vis international economic fora.." [more]

Bank Stocks Power 13th Day of Saudi Rally [Feb 25]
"Saudi Arabia’s stock market yesterday extended for a 13th day its longest bull run in 18 months as investors piled into banking stocks that promised bonus shares. But the one-year anniversary of the beginning of a stock market crash might dampen investor sentiment this week, analysts said. Saudi Arabia’s bourse, the worst performer of the Gulf Arab region last year, overtook Dubai last week as the Gulf’s biggest 2007 gainer after a rally beginning on February 6 added 17.26% to its market capitalisation. Banking stocks have been the driving force behind the gains on the Arab world’s largest bourse.." [more]

Anti-Vice Squads Must Get Prior Approval for Inspection [Feb 25]
"The Commission for the Promotion of Virtue and Prevention of Vice in Saudi Arabia, known in the Western media as the 'religious police', has asked its staff not to enter public buildings, private hospitals as well as other business facilities for inspection unless they have prior coordination with official parties in these departments. The Commission for the Promotion of Virtue and Prevention of Vice (CPVPV) squad can enter government and private sector buildings, on receiving reports of moral violation, to nab violators but now it requires prior communication with those in charge of these buildings.. ..In the past few years, performance and behaviour of the anti-vice squad has come under fire from some writers in Saudi press.." [more]

Saudis May Drop Planned China Petrochemical Plant [Feb 25]
"Saudi Basic Industries may find another location for a $5.2 billion petrochemical plant planned for China if Beijing keeps delaying approval for the project, its chairman said Sunday. The Saudi petrochemical company says it has been waiting for more than a year to start work on the complex in the northeastern city of Dalian, which would include an oil refinery and an ethylene plant. 'We hope this approval gets completed so that we can go ahead with our investment in the project,' the company chairman, Prince Saud bin Abdullah bin Thunayan al-Saud, told reporters. 'There are many opportunities in the world. But there isn't a specific alternative to China, he said.. ..The Chinese companies have been waiting for 18 months for the authorities in Beijing to approve the project.." [more]

Sri Lanka Concerned Over Executions [Feb 25]
"Sri Lanka on Friday raised concerns with Saudi Arabian officials about the recent public execution of four Sri Lankans, including the beheading of a person sentenced to 15 years in jail.. ..Sri Lanka's Foreign Minister Rohitha Bogollagama told Sultan Al Dakhel, the Saudi charge d'affaires in Colombo that there is a 'widespread concern in Sri Lanka with regard to the carrying out of these executions,'.. ..The foreign ministry said Sangeeth Kumara who had been given a 15-year jail term had also been executed. Bogollagama told Al Dakhel that the Sri Lankan embassy in Riyadh was not notified before or after the execution and asked him to convey his concerns to the Saudi Arabian government.." [more]

OIC Creates $3b Trade Development Corporation [Feb 25]
"A trade development body with $3 billion in capital designed to increase trade and finance in Islamic nations was created yesterday in Jeddah. More than 50 finance and planning ministers from the Organisation of Islamic Conference (OIC) nations convened to inaugurate the International Islamic Trade Finance Corporation (ITFC). The enity is billed as the first dedicated to developing trade and finance in the Islamic nations.. ..As an independent organisation, the ITFC will also monitor market trends and launch specialised funds in its efforts to combat poverty and improve economic performance in the Islamic world. The ITFC will also support Islamic Development Bank investments and initiatives.." [more]

Turkey, Kingdom Discuss Iran [Feb 25]
"Turkey yesterday reaffirmed its strong support for the Middle East peace process while pledging to work with Saudi Arabia and other Islamic nations to advance efforts to solve the Israeli-Palestinian conflict. Turkish Prime Minister Recep Tayyip Erdogan, who held wide-ranging talks with Custodian of the Two Holy Mosques King Abdullah here yesterday, said that his visit to the Kingdom is aimed at coordinating positions and boosting efforts to resolve the conflict.. ..'We also discussed the nuclear developments in Iran,” said the Turkish premier, adding that “on my return from the Kingdom, I will send immediately a technical team to Israel to find out facts about the excavation works done near Jerusalem’s Al-Aqsa Mosque'.." [more]

Poor Health of Arab Children Causes Alarm [Feb 25]
"Health Minister Dr. Hamad Al-Manie has called for increased vaccination programs in the Arab world where the mortality rates for under-fives have increased by 13 percent. Some 640 million children lack adequate shelter; 500 million others have no access to sanitation and some 400 million depend on water unfit for consumption. The number of the severely undernourished is 90 million. The minister was speaking yesterday at the opening of a three-day international conference on Arab Child Health.. ..The Third Millennium Development Goals for 2015 seek to reduce by two-thirds under-five mortality rates; reduce by three-quarters the maternal mortality rates; stop the spread of HIV/AIDS; and bring malaria and other major diseases under control.." [more]

Expats Remit $14 Billion in 2006 [Feb 25]
"Expatriate workers in Saudi Arabia sent home some $14 billion in 2006, ranking the Kingdom second only to the United States, according to the Arab Monetary Fund (AMF). Remittances from Saudi Arabia represented more than half of the total transfers made by foreign workers in the Gulf Cooperation Council (GCC), the Saudi daily Al-Madinah reported yesterday, quoting the AMF. The GCC bloc, which groups Saudi Arabia with Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates, saw outflows of some $25.7 billion in remittances during 2006, the newspaper said.." [more]

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