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~~~~~~~~ [ May 5] ~~~~~~~~~
Situation is Worse in Iraq; Civil War Possible - Saudi Minister [May 5]
"In the wake of the so-called 'neighbours-plus' conference, Saudi Foreign Minister Saud al-Faisal in comments published
Saturday said the situation in Iraq is only getting worse and that civil war could break out in the already-divided
country.. ..Saudi Arabia, a strict Sunni state, has lately been brokering peace in the region - bringing rival
Palestinian factions together through a Mecca-based peace deal and slowly embarking on a much bigger role in Middle East
peace and conflict issues. But so far, the state has not given its unswerving 'blessing' to al-Maliki. When asked by
al-Hayat if the Saudi government was willing to back al-Maliki's cabinet, al-Faisal said: 'We do not interfere in the
internal matters of Iraq or any other country. This is up to the Iraqis.'.."
[more]
Challenging Saudi Arabia’s Powerful, One Caller at a Time [May 5]
"Every Monday night, Salama al-Zaid puts on his headphones, pulls his microphone close and goes to war on his radio talk
show with some of the most powerful figures in this desert kingdom. For two hours, from 10 p.m. to midnight (prime time
in Saudi Arabia), Mr. Zaid opens the phone lines for callers to air their complaints, uncensored and unhindered. Then he
takes on the people in high places responsible for fixing those problems. 'I wish all those officials who are listening
to remember this,' Mr. Zaid began on a recent night. 'You are servants of the citizens, you have a duty to them. It is
not below you to call in and respond'.. ..Mr. Zaid, 49, is the host of “Mubasher FM,” a show as remarkable for what it
says about Saudi Arabia as for the powerful backing it has gotten from the country’s ruler, King Abdullah.."
[more]
The US Needs a Friend Like Saudi Arabia [May 5]
"The vacuum in Middle East diplomacy is frightening as Saudi Arabia's role as the emerging political leader in the region
has been undercut by the Bush Administration. The Saudi initiatives have not been picked up by the United States, while
some of them are being encouraged to wither away. This has created a serious absence of momentum, which means that those
who are profiting from the increased violence are delighted. It has also generated a new phenomenon of institutional
Saudi anger at American disdain for the Saudi efforts, which has also been interpreted as ignoring their position as a
country which has been allied to the United States for decades. And at this time the US cannot afford to lose its friends
in the region.." [more]
Prince of Saudi Holy City of Mecca Dies [May 5]
"Prince Abdul-Majid bin Abdul-Aziz, the governor of the Islam's holy city of Mecca, died Saturday after a long illness, a
Saudi Arabian royal statement said. He was 65. Abdul-Majid, who was the half brother of Saudi King Abdullah, was flown to
the United States where he died after sudden health deterioration.. ..Abdul-Majid is the 33rd son of the kingdom's
founder, the late King Abdul-Aziz, who had 36 sons. In 1985, the late King Fahd appointed Abdul-Majid, who has one son,
Faisal, as governor of the holy city Medina. Fifteen years later, he became the head of Mecca.."
[more]
Kingdom Aims to Become No. 3 in Petrochemicals Sector [May 5]
"Saudi Arabia has its eyes set on becoming the No. 3 petrochemicals producer by 2015, said Minister of Petroleum and
Mineral Resources Ali Al-Naimi at the Arab Economic Forum in Beirut yesterday. The Kingdom is currently ranked No. 10 in
the production of petroleum derivatives.. ..the Kingdom is expected to hit the 100-million-ton mark by 2015 with an
annual growth rate of about 12 percent. 'This would make the Kingdom the third largest petrochemicals producer in the
world,' Al-Naimi said. In the early 1980s, investments in this sector were less than $500 million. This has grown to $20
billion in 2000, according to the minister. 'We can safely say that the increase in investments between 2005 and 2012
will total $70 billion,'.." [more]
Tadawul Rebounds on Strong Performance of Blue Chips [May 5]
"The Saudi stock market rebounded last week, buoyed by the strong performance of blue chip firms, particularly the Saudi
Basic Industries Corporation (SABIC), which accounts for 26 percent of the market’s capitalization. The Tadawul All-Share
Index (TASI) climbed 3.57 percent last week, closing at 7,533.11 points from 7,273.34 points previous week. However, TASI
currently remains 5.0 percent lower than the year’s start.." [more]
Naif: Time to Attack Terror Ideology [May 5]
"Prince Naif Bin Abdul Aziz, Minister of the Interior, praised the Kingdom's physical efforts of attacking terrorism but
called on authorities to strengthen their attack on its ideological roots.. ..Prince Naif expressed 'total
dissatisfaction with the level of intellectual, social, scientific, educational or informational work to confront the
intentions of the deviant group and uncover their plans aiming at sowing [the seeds of] sedition, destroying the country
and its national potential.' He called the intellectual approach to terrorism 'weak' and 'not comparable to the security
efforts.' He said, 'I hope that all state authorities, the Saudi people and expatriates living on Saudi soil will work
shoulder-to-shoulder to confront the deviant group in order to protect the nation, its people and its progress'.."
[more]
~~~~~~~~ [ May 4 ] ~~~~~~~~~
Cheney to Visit Saudi Arabia on Mideast Tour [May 4]
"U.S. Vice President Dick Cheney will go on a Middle East tour next week that will include a visit to Saudi Arabia, which
has had strained relations with the United States over Iraq in recent months. The vice president's office said Cheney
leaves on Tuesday on a trip to the United Arab Emirates, Saudi Arabia, Egypt and Jordan 'for discussions with the leaders
of these nations on key issues of mutual interest'. His trip will include a meeting with Saudi King Abdullah, who in
March said Iraq was under an 'illegitimate foreign occupation,' a charge the White House rejected.."
[more]
Saudi Arabia, Kuwait and Russia Fail to Offer Immediate Debt Relief to Iraq [May 4]
"Saudi Arabia said it is still negotiating with Iraq over writing off billions of dollars owed it by the war-torn
country, and major creditors Kuwait and Russia failed to offer immediate debt relief - a key goal of an ambitious
blueprint launched Thursday to stabilize Iraq. The absence of major commitments to reduce Iraq’s burdensome debt was a
disappointment at a major regional conference in the Egyptian resort aimed at showing support for Iraq - and a sign that
some, particularly Sunni Arab nations, are still keeping their distance from Iraq’s Shiite-led government.."
[more]
Sudan, Chad Sign Reconciliation Deal in Saudi [May 5]
"President Omar el-Beshir and Chadian President Idriss Deby Itno signed a reconciliation accord in the Saudi capital
yesterday aimed at ending tensions between their two countries. The televised signing took place at a summit hosted by
Saudi King Abdullah, with the deal committing each of the parties to refrain from supporting rebels in the other
country.. ..Relations between the two countries nosedived after deadly border clashes between Sudanese and Chadian
soldiers on April 9 in and around the war-torn Darfur region of western Sudan. Chad apologised to Sudan but said it was
in hot pursuit of rebels who had crossed into Darfur. Khartoum said 17 of its soldiers were killed. Sudan and Chad accuse
each other of supporting rebel forces.." [more]
Saudi Arabia: Rights of Women Journalists Discussed [May 4]
"The issue concerning the rights of Saudi women journalists dominated the Second Women’s Media Forum that ended here
yesterday. The forum, 'Media Vision for Economic Horizons,' decided that a letter drafted by journalists and media
representatives would be handed to Princess Adela bint Abdullah, the patron of the forum, which she would give to
Custodian of the Two Holy Mosques King Abdullah seeking his help to end injustice and solve the problems of women
journalists. The letter would document all the problems they face in their profession.."
[more]
Saudi Arabia to Raise Asia Prices for Third Month in a Row [May 4]
"Saudi Arabia is expected to raise the price of its heavier grades to Asian buyers for the third month in a row in June
as refinery maintenance in Asia drives margins above $10 a barrel.. ..The Saudi official selling prices are usually
released around the fifth of each month before crude starts loading, and set the trend for Iranian, Kuwaiti and Iraqi
prices, altogether impacting the price of over 8 million bpd of crude sold to Asia. Traders polled expected the heaviest
grades - Arab Heavy, Arab Medium and Arab Light - to rise by an average 30 cents a barrel.."
[more]
17-Year-Old Math Genius Is Cynosure of All Eyes [May 4]
"Wael Al-Ghamdi, an 11th-grade student from Jeddah’s Dar Al-Fikr School, will represent Saudi Arabia in the 48th
International Mathematical Olympics 2007 (IMO). The 17-year-old Saudi achieved first place in the annual mathematics
competition sponsored by the Ministry of Education. He competed with 428 young men and women 12th graders.. ..Now
Al-Ghamdi will compete in the IMO, which will take place July 19-31 in Vietnam. Winners will receive scholarships to
prestigious universities. He will also spend six weeks this summer interning at the Massachusetts Institute of
Technology.." [more]
Saudi Policy Steers Former Detainees to Settled Life [May 4]
"Alarmed to find that detainees are emerging from the Guantánamo Bay prison camp and other U.S. detention centers more
devoted than ever to radical Islam, Saudi Arabia is offering counseling, financial aid and even matchmaking to pull young
militants away from terrorism. To keep the former detainees away from deep-pocketed militant recruiters, Saudi officials
have treated them to perks that have included new cars, resort stays, job placement and help in finding brides. They have
also exposed them to moderate clerics and reminded them of Islam's restrictive rules for waging holy war, or jihad.
Saudi officials said the goal is to stop the proliferation of radical ideology that they said is bred in prisons and on
the Internet.." [more]
~~~~~~~~ [ May 3 ] ~~~~~~~~~
Saudi Arabia, Gulf Oil Producers Assure Asia on Supply [May 3]
" OPEC power Saudi Arabia and core Gulf oil producers assured Asian consumers on Wednesday of secure supplies, but
signalled they would not pump more to ease high prices. Brent crude, for now more representative of global prices than US
oil, has climbed towards $67 a barrel from around $50 in January stoked by strong demand for US gasoline and low stocks
in the world’s top consumer.. ..Security of supply is a nagging worry for Asia, where economic expansion is leading to
growing import dependence on the volatile Middle East. The region, home to 60 percent of the world’s oil reserves,
supplies Asia with 55 percent of its oil.." [more]
US Commission Condemns Saudi Religious Intolerance [May 3]
"The US Commission on International Religious Freedom continues to list Saudi Arabia as a "country of particular
concern," for refusing to recognize any faith other than Islam. Commission vice chair Nina Shea says Saudi Arabia bans
any non-Islamic public worship, and even private worship by non-Muslims can result in imprisonment, torture or
deportation.. ..The State Department has accepted the commission's recommendation that Saudi Arabia be listed among the
world's worst religious persecutors since 2005, but the Saudis have received an executive waiver from possible US
sanctions.." [more]
Saudi Aluminum Industry Takes Off [May 3]
"Some $12 billion of investment is being committed to create a major aluminium industry in Saudi Arabia which will give
the Kingdom a leading part in the Gulf's increasingly important role in global production. The region now accounts for
some 8 per cent of world aluminium production and with new smelters and expansions to existing facilities coming on
stream this is likely to rise substantially.. ..This confidence is shown by the $7 billion agreement to exploit the
Kingdom's northern bauxite deposits and also construct and operate an aluminium smelter on the east coast of Saudi Arabia
reached by Saudi Arabian Mining Company (Maaden) and Alcan.." [more]
U.S. Seeks Tighter UK Laws After Saudi Case [May 3]
"The United States said on Wednesday it hoped to help tighten UK anticorruption laws amid reports of a possible U.S.
criminal probe into alleged bribery of Saudi officials by BAE Systems Plc (BA.L), Britain's top military contractor..
..The United States has been in touch as a signatory of an anti-bribery convention of the Paris-based Organization for
Economic Cupertino and Development, he said. Washington also was acting as a member of an OECD working group on bribery,
Davidson said, which outlined what it called "shortcomings" in British anti-bribery legislation in March.."
[more]
Chad-Sudan Seek to Mend Relations at Saudi Summit [May 3]
"Saudi Arabia's King Abdullah will oversee a summit between the leaders of Sudan and Chad on Thursday in a bid to repair
damaged relations between the two states.. ..Relations between the two countries nosedived after deadly border clashes
between Sudanese and Chadian soldiers took place on April 9, in and around the war-torn Darfur region. Sudan and Chad
accuse each other of supporting rebel forces in their respective territories amid international fears that the continuing
strife in Sudan's western Darfur region will spill over into Chad and ignite a regional war.."
[more]
Efficiency May Curb Need for Future Oil Expansion – Saudi [May 3]
"Top world oil exporter Saudi Arabia said further expansion of its production capacity may not be needed beyond 2009 as
consumers grow more energy efficient and switch to alternative fuels. Saudi Oil Minister Ali al-Naimi said in September
the drive to conserve fuel could slow investment by producer countries. His comments yesterday were the strongest signal
yet of the need for evidence that demand growth would justify new supplies. The kingdom is on track to meet an existing
capacity target of 12.5mn barrels per day (bpd) by the end of 2009 – up from 11.3mn now.. ..'Our feeling now with this
thrust and push for conservation, efficiency and the use of alternatives is that we probably need not go beyond 12.5mn
bpd,' he said in Riyadh after a meeting of Middle East and Asian oil ministers.."
[more]
Mosques and Charitable Bodies to Help Fight Terror [May 3]
"The Saudi government is involving charitable and community organisations to fight terrorism and extremist ideologies.
An official of a community organisation in Saudi Arabia said Prince Naif Bin Abdul Aziz, Interior Minister, has asked
these societies to play an active role in the security campaign and tackle those adopting "deviant ideologies", a term
widely used in Saudi Arabia to mean terrorists and extremists.. ..The Saudi Ministry of Islamic affairs is planning to
have more than 15,000 preachers to focus on the dangers of terrorism and the importance of fighting it during their
Friday sermons.." [more]
Saudi-Egyptian Causeway to Link Two Continents [May 3]
"During his visit to the Kingdom’s northern region next week, Custodian of the Two Holy Mosques King Abdullah is expected
to launch a number of important projects, including the long-awaited Saudi-Egyptian Causeway which will link the
continents of Asia and Africa. The Saudi monarch, who is visiting the region for the first time since becoming king in
2005, will also open the project for the construction of Tabuk University. The first phase of the project will cost about
SR1 billion ($375 million) and include 16 colleges. Informed sources said King Abdullah would lay the foundation stone
for the 50-km causeway linking Saudi Arabia and Egypt. The causeway will be built in three years at a cost of $3 billion.
It will link Ras Humaid in Tabuk with Sharm El-Sheikh in Egypt and pass through Tiran Island.."
[more]
Saudi Students Look Toward Malaysia for Higher Studies [May 3]
"An increasing number of Saudi students are going to Malaysia for higher studies. “As many as 172 Saudi students are
already pursuing studies in Malaysia and 300 more will be joining them in due course,” Malaysian Minister of Higher
Education Mustapa Mohamed told a press conference here yesterday. This is in pursuance of the Kingdom’s plan to look
eastward, especially to Malaysia, in addition to China, India, Singapore and South Korea.. ..With rising population
rates, more than 50 percent of inhabitants categorized as “young,” rising labor market expectations and a booming
economy, the Saudi government has recently increased funding for overseas study and announced that foreign providers will
receive authorization to set up campuses in the Kingdom.." [more]
~~~~~~~~ [ May 2 ] ~~~~~~~~~
Kingdom Stays Committed to Asia’s Growing Energy Needs [May 2]
"Saudi Arabia will continue to show its commitment to Asian markets by developing strategic joint ventures with Asian
countries. Currently the Kingdom has formed joint investments with four Asian countries — Korea, Japan, China and the
Philippines — Assistant Minister of Petroleum and Mineral Resources Prince Abdul Aziz ibn Salman said here yesterday.
The Kingdom is hosting today the 2nd Asian Ministerial Energy Round Table under the theme (Promoting Prosperity through
Energy Interdependence and Cooperation). The event will be attended by ministers from over 20 oil producing and consuming
countries. Japan is co-hosting the event.." [more]
India Says Interested in Saudi Oil Storage [May 2]
"Major Asian oil consumer India said on Wednesday it would be interested in a deal for Saudi Arabia to store oil on its
territory, after Japan recently revealed it would enter talks on storing Saudi crude. "Why not?" Indian Minister of
Petroleum and Natural Gas Murli Deora told reporters at a meeting in Riyadh of Asian and Gulf oil ministers. "We have
heard about that, but have not had such offers yet," Deora said. Indian Oil Corporation (IOC) Chairman Sarthak Behuria
said the country did not currently have any strategic storage available.. ..Japan and Saudi Arabia agreed on Saturday to
start negotiations to allow Saudi Arabia, the world's top oil exporter, to use existing reserve facilities in Japan.."
[more]
Saudi Rejected Advice for Talks with Maliki [May 2]
"Saudi Arabia's King Abdullah ignored US advice when he declined to meet Iraqi Prime Minister Nuri Al Maliki on the eve
of international meetings in Egypt on Iraq's future, the US State Department said. While acknowledging the Saudi rebuff,
spokesman Sean McCormack noted that the kingdom will be represented at the meetings, including one in which the Saudis
are expected to announce significant debt relief for Iraq. The meeting will launch the International Compact with Iraq,
under which the country will receive outside assistance in exchange for internal reforms.."
[more]
Saudi Arabia: Shoura Debate on Weekend Change Divides Citizens [May 2]
"A healthy debate on whether to change the Kingdom’s official Thursday-Friday weekend to Friday and Saturday took place
at the Shoura Council recently. The proposal had been presented for discussion to the Shoura Council’s Management and
Human Resource Committee by the Civil Service Ministry. It will subsequently be voted on and if passed would then be sent
to the Council of Ministers for approval. Currently, the Kingdom is officially off on Thursdays and Fridays, which are
working days in most parts of the world.." [more]
Food Price Rise Lifts Saudi Cost of Living [May 2]
"The cost of living index (CLI) in Saudi Arabia increased by 0.3 per cent in February compared to January.. ..The report
attributed the CLI's rise to the 3.3 per cent increase in prices of food and beverages, a main component of the index.
The price of fresh vegetables rose 21.1 per cent (on an average) and fish by 5.1 per cent. The report pointed out that
another component - renovation, leasing, fuel and water - recorded an increase of 0.7 per cent. They were affected by
increase in rents (0.9 per cent) and energy and power (0.6 per cent).."
[more]
Nearly 100,000 Historical Sites Dot Saudi Landscape [May 2]
"Saudi Arabia is replete with archaeological sites dating back to thousands of years, according to Dr. Mohammed
Al-Ruwaished, deputy minister of education for antiquities and museums. 'There are nearly 100,000 historical sites in the
Kingdom and we have already identified and registered 3,700 main sites. Some of these have 80 to 100 related sites in
different localities,'.. ..The Kingdom’s historical sites and museums will attract a large number of foreign tourists.
The SCT chief has said that Saudi Arabia wants to attract 1.5 million tourists a year by 2020, excluding the millions who
come on Haj and Umrah pilgrimages. He spoke of the ambitious goal of making tourism to account for 18 percent of the
country’s gross domestic product by 2020.." [more]
~~~~~~~~ [ May 1 ] ~~~~~~~~~
Oil Steadies as Saudi Supply Security Fears Ease [May 1]
"Oil steadied as fears about security of supply from Saudi eased, and as traders switched focus towards weekly US stocks
data due tomorrow.. ..New York crude for June delivery was down 17 cents at 65.54 usd a barrel. Prices have been softer
this week having spiked Friday after Saudi Arabia said it had arrested 172 militants it said were plotting attacks on oil
installations. Brent prices are trading about 1 pct lower than last week.. ..Early estimates show crude stocks may have
built last week in the world's top consumer. Some analysts also called for gasoline inventories to have risen for the
first time in 12 weeks. Gasoline stocks are the most closely watched indicator ahead of the driving season, which starts
late May.." [more]
Saudi Restricts Chemical Use After Foiling Militants’ Plot [May 1]
"Saudi Arabia yesterday curbed the sale of industrial and agricultural chemicals that can be used to make explosives used
by Al Qaeda-linked militants. The government decision comes days after the government said it had arrested 172 militants,
including some trainee pilots, planning attacks on oil facilities, military bases and government officials in the world’s
biggest oil exporter. The Saudi cabinet said after a meeting chaired by King Abdullah the sale of various nitrate
compounds in their solid form was banned for three years, and farmers may only use liquid chemicals as
fertilisers. The decision allowed the import of the chemicals in their solid form for medical, industrial and scientific purposes
only.." [more]
King Pays Surprise Visit to Cameroonian Twins [May 1]
"King Abdullah paid a surprise visit to the King Abdulaziz Medical City (KAMC) yesterday to see the recently separated
Cameroonian conjoined twins, Phambom and Shefbou, who underwent surgery on April 21. In response to a request made by the
parents of the twins, James Akumpu and Emmevena Nyamale, the king directed the hospital to perform the separation surgery
at his expense. The parents’ airfare, pre- and post surgery expenses and their stay in the Kingdom are being borne by the
king.. ..The king expressed happiness at the rapid recovery of the twins following the surgery and he said he was happy
that the Kingdom was able to help the distressed couple.." [more]
U.S. Says Saudi Arabia, Iraq in Dispute [May 1]
"The United States suggested on Monday Saudi Arabia support the Iraqi government led by Prime Minister Nuri
al-Maliki which has been struggling against the growing violence in the country. Speaking to reporters, White House spokesman Tony
Snow described the refusal of Saudi Arabia's King Abdullah to meet Iraqi Prime Minister al-Maliki ahead of a regional
summit on Iraq security this week as a 'dispute between the two nations.' 'At this point that is a dispute between the
two nations,' said Snow. 'We think it's important for nations in the region to understand the importance of an Iraqi
democracy that can stand up and also can stand as a bulwark against terrorism, which is a threat to all nations of the
region whether they be Sunni, Shi'a or others,'.." [more]
The Bank of New York Selected by Riyad Bank, Saudi Arabia for Tri-Party Collateral Management [May 1]
"The Bank of New York, a global leader in securities servicing, was selected by Riyad Bank, Saudi Arabia to conduct one
of the first ever tri-party repo transactions in the MiddleEast. The transaction, in which Riyad Bank provided a diverse
pool ofinternational fixed income securities, is expected to be the springboardfor an active collateral management
program going forward.. ..In a tri-party collateral management transaction, the Bank acts as an intermediary between a
buyer and seller, or lender and borrower of securities to ensure proper collateralization throughout the term of the
transaction.." [more]
Maaden in SR26bn Deal [May 1]
"The biggest deal in the history of the Saudi Arabian Mining Company (Maaden) was signed in Riyadh yesterday. The SR26.25
billion joint venture agreement seeks to develop the Kingdom’s huge bauxite resources and to build and operate a
“mine-to-metal” industry. Capitalizing on the Kingdom’s abundant energy reserves, the fully integrated project will
include bauxite mining, alumina refining, a power plant and aluminum smelting.. ..The agreement sets in motion one of the
world’s largest vertically integrated projects of its kind. The initial phase includes the construction of a power plant
delivering 1,400 megawatts, developing a 90-million-ton bauxite reserve located in Al-Zubeira in northern Saudi Arabia,
building an alumina refinery with a capacity of 1.6 million tons per year and an aluminum smelter with a capacity of
720,000 tons per year.." [more]
~~~~~~~~ [ Apr 30 ] ~~~~~~~~~
Japan Offers Oil Storage in Okinawa for Use of Saudi Arabia [Apr 30]
"Japanese Prime Minister Shinzo Abe proposed a plan to Saudi Arabia Saturday night to let the country use part of the
state-owned oil storage tanks in Okinawa prefecture in exchange for a preferential right to purchase the oil reserves
there in case of emergency, Japanese officials said.. ..The oil storage plan is designed to deepen Japan's interdependent
relationship with Saudi Arabia and ensure a stable oil supply.." [more]
The Gulf Is Targeted: Abdullah [Apr 30]
"Custodian of the Two Holy Mosques King Abdullah yesterday received GCC Shoura Council members at his palace in Riyadh
and urged them to work for strengthening the unity of the Gulf Cooperation Council. 'Our Gulf is now a target. I myself
and other Gulf leaders are aware of them,' the king said, referring to the forces targeting the region. He reminded the
Shoura members of their tremendous responsibility.. ..Abdullah told the members that if they did not take the initiative
to strengthen the GCC, later generations will have to do that. 'You have to tell foreigners that we are a peace-loving
people and our citizens are brothers in blood, language and faith.' He also emphasized the need for instilling patriotism
in GCC citizens.." [more]
Saudi 'Kremlinology' Heats Up With King Talk [Apr 30]
"In Soviet Russia, it was called 'Kremlinology.' The intricate and ultimately futile analysis of an opaque ruling system
dominated by ageing men in suits, who made a career out of giving little away. In Saudi Arabia, for suits just read
'white robes.' Interpreting minuscule movements in the political geography of Saudi Arabia's closed system of government
is a favorite parlor game among journalists, diplomats and businessmen, as well as the ambitious hoping for appointments
to state bodies. But a ripple of excitement has shifted the sands in recent months with indications that Prince Salman
bin Abdul-Aziz, the governor of Riyadh and half-brother of King Abdullah, is positioning himself as second-in-line to the
throne.." [more]
Saudi Stocks Unlikely to Come Out of the Woods [Apr 30]
"The Saudi stock market dropped yesterday after chalking up gains for the last three trading days. According to BMG
Financial Advisors, a leading provider of financial services in the Kingdom, the initial public offering (IPO) of Saudi
Kayan Petrochemical Co., which opened for subscription on Saturday, has had an inadvertently detrimental impact on the
Saudi stock market. The Saudi Kayan IPO with a total SR6.7 billion ($1.8 billion) to be raised is expected to draw a fair
amount of market liquidity over the 10-day subscription period. Many market participants, mainly the retail investors,
have decided to liquidate their portfolios in order to participate in the IPO. This will have a negative impact,
therefore, on share prices, which in turn, induces other retail investors to sell down positions. Accordingly, with both
market liquidity and stock prices declining, it is unlikely that the market will be able to make a breakout from its poor
performance, to start recovering.." [more]
Official Denies Foreign Help in Foiling Terror Plot [Apr 30]
"Saudi Arabia yesterday dismissed reports saying that foiling of attempts by terrorists to carry out attacks in and
outside Saudi Arabia was carried out in cooperation with foreign security bodies.. ..Al Turki was responding to reports
carried by some Qatari and Kuwaiti newspapers saying that Kuwaiti and Egyptian authorities cooperated with Saudi
authorities in cracking terrorist cells.." [more]
~~~~~~~~ [ Apr 29 ] ~~~~~~~~~
Saudi King Declines to Receive Iraqi Leader [Apr 29]
"In a serious rebuff to U.S. diplomacy, King Abdullah of Saudi Arabia has refused to receive Iraqi Prime Minister Nouri
al-Maliki on the eve of a critical regional summit on the future of the war-ravaged country, Iraqi and other Arab
officials said yesterday. The Saudi leader's decision reflects the growing tensions between the oil-rich regional giants,
the deepening skepticism among Sunni leaders in the Middle East about Iraq's Shiite-dominated government, and Arab
concern about the prospects of U.S. success in Iraq, the sources said. The Saudi snub also indicates that the Maliki
government faces a creeping regional isolation unless it takes long-delayed actions.."
[more]
Saudi Arabia to Build Two More Economic Cities This Year [Apr 29]
"Saudi Arabia will build two more economic cities this year, making the total economic cities in the Kingdom to six, a
senior government official said here yesterday. The two economic cities will be built in the Northwest of the Kingdom and
in the Eastern Province, announced Governor of the Saudi Arabian General Investment Authority (SAGIA). 'The impact of
these six economic cities by 2020 is $150 billion in contribution to GDP growth, 1.3 million jobs to be created, and to
accommodate 4.8 million of the total population,' Amr Al-Dabbagh said.."
[more]
Foreign Recruitment Doubles in a Year [Apr 29]
"The recruitment of foreign manpower increased by 100 percent within a year despite the Saudization drive. The reason is
the launch of new development projects, including mega economic cities that require a large number of skilled workers.
Authorities had predicted that the new development projects would create more job opportunities for young Saudis and
reduce the country’s unemployment rate which is estimated at 12 percent. According to the latest study by the General
Statistics Department, there are about 470,000 unemployed Saudis. A Labor Ministry official recently told the
London-based Financial Times that his ministry had issued 750,000 visas for foreign manpower within a year.."
[more]
Saudi King Discusses Palestine with Abbas [Apr 29]
"Palestinian President Mahmoud Abbas met Sunday with Saudi King Abdullah Bin Abdul Aziz in Riyadh. Abbas briefed the
Saudi king on developments in the Palestinian territories following what the Palestinian news agency WAFA called the
Israeli military escalation against the Palestinian people. The two also reportedly talked about efforts to push the
peace process forward.." [more]
We Aren’t Done With the Terrorists Yet, Prince Naif Says [Apr 29]
"Interior Minister Prince Naif said in comments published yesterday that Saudi Arabia would continue its campaign to root
out terrorists in the country. He commended the security forces for their efforts to arrest 172 suspected militants
belonging to seven terror cells across the country. 'We cannot say that we are done with these deviants,' Prince Naif
told Al-Riyadh Arabic daily. 'But efforts will continue. The eyes...are wide open and efforts are under way to cleanse
our country of every evil,' he said about the Kingdom’s campaign against Al-Qaeda militants.."
[more]
Multilayered Ties Proposed [Apr 29]
"Japan’s Prime Minister Shinzo Abe proposed yesterday to forge a 'multilayered relationship' beyond oil with the Middle
East, hoping to herald a new era of ties between Tokyo and the region.. ..Speaking at a forum of about 300 Japanese and
Saudi businessmen in Riyadh, Abe said Japan would contribute to the development of human resource in the Kingdom. “One of
the aims of my visit is to establish multilayer economic relations that go beyond traditional economic relations that
focus on oil,” Abe said. The prime minister said that he wanted to establish “a new era of relations between Japan and
the Middle East” in which strategic relations between Japan and the Kingdom would include
cooperation in combating terrorism, discussions on developments in the region, and cooperation on the humanitarian front.."
[more]
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project -- an independent, private-sector information resource -
offers objective, comprehensive news and information on the
history, breadth and depth of the US-Saudi Arabia relationship.
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