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~~~~~~~~ [ Jun
16 ] ~~~~~~~~~
Return to
Makkah Pact, Saudi Urges Foes [Jun 16]
"Saudi Arabia, which brokered a unity government deal between
Fatah and Hamas in February, yesterday reproached both sides for
breaking their commitments and pressed them to return to the
agreement. In a speech to an Arab League meeting in Cairo, Saudi
Foreign Minister Saud al-Faisal said the latest fighting between
Fatah and Hamas had served the interests of Israel. 'Today the
Palestinians have come close to putting by themselves the last
nail in the coffin of the Palestinian cause,' he told other Arab
foreign ministers in closed session.." [more]
Saudi-Kuwaiti
Group Invests Nearly $2.5 Billion in Pakistan [Jun 16]
" Saudi-Kuwaiti Group, Midroc Tussonia (Pvt.) Limited, has
initiated to invest $1.5 billion to $2.5 billion in Power, Oil
and Gas and Real Estate sectors of Pakistan over a period of
next five to seven years, according to an official statement.
Sheikh Humoud Al-Sabah, President of the group, gave this
information to Minister for Privatization and Investment Zahid
Hamid in a meeting with him.." [more]
Jabal Omar IPO
Weighs Heavily on Stock Market [Jun 16]
"The Saudi stock market continued its downward trend last week.
The Tadawul All-Share Index (TASI) fell by 3.92 percent or
288.45 points last week to 7,074.51 compared to previous week’s
close at 7,362.96. The continuing IPO of Jabal Omar Development
Co., which opened for subscription on June 9, also contributed
to the stock market fall as it attracted huge investment in
first week of its opening. According to Bank Albilad, manager of
Jabal Omar IPO, as many as 2,051,191 Saudis subscribed to the
company’s shares investing more than SR1.95 billion by
Thursday.." [more]
~~~~~~~~ [ Jun
15 ] ~~~~~~~~~
Saudi Arrests
are Weapons Against Web Jihad [Jun 15]
" In arresting three men suspected of spreading al-Qaida
propaganda on the Web, Saudi authorities are trying to take the
battle against extremism to the Internet. Earlier this month,
the official Saudi Press Agency reported that the Ministry of
the Interior had 'arrested three people involved in promoting
deviant thoughts through the Internet to undermine the security
of the country'.. ..An analysis from the SITE Institute, a
non-profit that tracks the online activities of Islamic
extremists, says that al-Najdi was the publisher of Sawt
al-Jihad, or "Voice of Jihad," effectively the official online
organ of al-Qaida in Saudi Arabia -- and the head of the group's
Information Department.." [more]
~~~~~~~~ [ Jun
14 ] ~~~~~~~~~
Passions Run
High as Region's Three Hotspots Ignite [Jun 14]
"The Middle East was literally on fire yesterday as a senior
Lebanese MP was killed in a car bomb that also claimed nine
other lives in Beirut, hours after saboteurs destroyed two
minarets of a holy Shiite shrine in Iraq, site of a 2006 bombing
that shattered its golden dome and unleashed a wave of sectarian
violence. In Gaza, the power struggle intensified between rival
movements Hamas and Fatah. At least 22 people were killed
yesterday. The chaotic scene is likely to inflame religious and
political tensions in the region. Analysts also warned the Arab
world was descending into a 'systematic collapse.' [more]
Gap to Open
100 Stores in Saudi Arabia and Turkey [Jun 14]
"Fashion chain Gap is to expand its international presence with
franchise agreements in Saudi Arabia and Turkey for more than
100 Gap and Banana Republic stores. The retailer intends to open
about 90 Gap stores and 20 Banana Republic outlets in these
countries with franchise partners Fawaz Alhokair in Saudi Arabia
and Fiba Holding in Turkey by 2012. The first Gap stores will be
open by the end of this year and the first Banana Republic
stores are expected to open by next spring. Gap senior
vice-president of international strategic alliances Ron Young
said: “Both Saudi Arabia and Turkey represent natural markets
for Gap. Each of these countries has a strong, steadily growing
economy and consumers in these markets have a great interest in
iconic apparel brands such as ours.." [more]
Saudi Arabian
FM Sues PIA for Blocking Sale of his Shares [Jun 14]
"Saudi Arabian Foreign Minister Saud Al-Faisal has sued Pakistan
International Airlines (PIA), accusing it of blocking efforts to
sell 8.6 million dollars in shares of the carrier's PIA
Investments unit.. ..The complaint said PIA Investments, owner
and manager of the Roosevelt Hotel in Manhattan and Hotel Scribe
in Paris, has a first right of refusal and offered a grossly
reduced price of 480,000 dollars on May 2. The prince said in
his suit: 'Rather than permit the sale to proceed, or acquiring
the shares as PIAC was entitled to, PIAC instructed the company
to redeem the claimant's shares as an end-run around Prince
Faisal's shareholder rights'.." [more]
BAE Systems
Facing US Investigation Over Corruption Allegations [Jun 14]
"Defence group BAE Systems PLC is reportedly facing a corruption
investigation in the US relating to alleged payments of more
than 1 bln stg made to a Saudi prince to secure a multi-billion
dollar arms deal. US prosecutors are '99 pct certain' to open a
criminal inquiry under the Foreign Corrupt Practices Act (FCPA)
into the affair, the Guardian cited Washington sources familiar
with the thinking of senior officials at the US Department of
Justice (DoJ) as saying. The BBC and the Guardian have claimed
that payments of up to 120 mln stg per year were channelled into
two Saudi embassy bank accounts in the US with the full
knowledge of the MoD as part of the Al-Yamamah arms-for-oil deal
signed in 1985.." [more]
Economic
Cities to Create 1.3m Jobs in Saudi Arabia [Jun 14]
"New economic cities in Saudi Arabia will create some 1.3
million new jobs, according to Amro Al Dabbagh, governor of the
Saudi Arabian General Investment Authority (Sagia). Sagia
yesterday signed a memorandum of understanding (MoU) with the
General Organisation for Technical Education and Vocational
Training (Gotevt). The MoU aims at establishing necessary plans
to qualify Saudi nationals to work at the projects of the six
economic cities in the kingdom.. ..He said that hiring Saudi
women at these cities is open as long as it runs in conformity
with Islamic laws.. ..Meanwhile, the Saudi Human Resources
Development Fund (HRDF) is planning to employ more than 18,000
Saudi women in the private sector and the new economic cities.."
[more]
Land Phone
Service to Get Big Boost [Jun 14]
"Three consortia led by Bahrain Telecom Co. (Batelco), Hong
Kong’s PCCW and US Verizon Communications will receive licenses
next month to provide land phone services in the Kingdom.. ..The
licensing of the three companies will increase the number of
land phone service providers in the Kingdom to four and end the
monopoly of state-owned Saudi Telecom Company. It will also
improve the quality of service and Internet connections and
reduce charges, market analysts said. The arrival of the three
new service providers augurs well for the national telecom and
IT plan that aims to provide fixed-line service to 25 percent of
the population, mobile service to 80 percent and spread
personal computers and the Internet among 30 percent of the
population.." [more]
~~~~~~~~ [ Jun
13 ] ~~~~~~~~~
Saudi Council
to Summon Ministers [Jun 13]
"The Saudi Shura Council is to summon three ministers to
question them on the performance of their ministries, members of
council said. Members of the council told Gulf News that the
council notified King Abdullah Bin Abdul Aziz of its plan to
summon the ministers of foreign affairs, finance and labour..
..'The King has approved the Shura requests,' said Dr Abdul Aziz
Al Thunayyan, Shura member, in press statements published
yesterday.Labour Minister Dr Gazi Al Qusaibi is expected to be
the first of the three ministers to be summoned to the Shura.
'The Shura wants to have Al Qusaibi explain some matters related
to the performance of his ministry, particularly the issuing of
recruitment visas, employment policy in the private sector and
other relevant issues'.." [more]
Saudi
Organisation Buys Chemical Company With Subsidiary in Brazil
[Jun 13]
"Saudi company Cristal signed last Monday (11) the contract for
acquisition of Millenium Inorganic Chemical, the titanium
dioxide division of North American multinational company
Lyondell. The acquisition includes Millenium's Brazilian
operations: a pigment factory in Camaçari, in the northeastern
Brazilian state of Bahia, and a titanium ore mine in Mataraca,
in Paraíba also in the NE. This information was published by
Kuwait News Agency (KUNA). The deal, for US$ 1.3 billion, was
closed last month, but the contract was signed early this week..
..With offices in the United Kingdom, Saudi Arabia and
Singapore, Cristal is the only producer of titanium dioxide in
the Middle East and North Africa, and exports its products to
over 70 countries. Together, both companies are going to employ
3,700 people worldwide.." [more]
Five Joint
Stock Firms Approved [Jun 13]
"The Ministry of Commerce and Industry yesterday approved the
setting up of five new joint stock companies with a combined
capital of SR17.3 billion, including Kayan Petrochemical
Company, the Saudi Press Agency said.. ..In a related
development, the Capital Market Authority yesterday licensed
five new companies — Merrill Lynch Saudi Arabia, National
Investment House, Mediterranean Investment, Capital Investors,
and International Investment House - to provide services to
investors in the Kingdom’s stock market.." [more]
Gulf States
Face Power Shortages Amid Lack of Gas [Jun 13]
"The oil and gas-producing countries of the Middle East are
facing a worrying paradox - how to meet rapidly expanding power
demand to feed their fast growing econ-omies, the International
Energy Agency said yesterday. 'Shortages of natural gas -
hitherto the fuel of choice for electricity generation - have
become a regular feature, forcing governments to consider
alternatives such as coal, fuel oil, nuclear and even imported
gas,'.. ..For most countries local gas is not a short-term
option because projects take a long time to develop.." [more]
Egypt Emerging
Favorite Destination for Saudis [Jun 13]
"An estimated 5 million tourists, majority of them Saudis, are
expected to leave the Kingdom for their holidays this summer..
..'Last year, Saudi tourists spent around SR60 billion during
their summer holidays abroad but this year their expenditures
are likely to increase by another eight percent due to an
increase in fares, accommodation, travel and transport rates as
a result of the appreciation of foreign currencies,' said Dr.
Nasser Al-Tayyar, chairman of the Al-Tayyar Group of Companies.
He added that this year popular destinations include Malaysia
and Egypt.." [more]
Saudi Arabia
Donates Relief Food, Transport Vehicles to Mauritania [Jun 13]
"Saudi Arabian government has given a donation of 29 off-road
4X4 vehicles, which includes five Toyota (GX) Land Cruisers and
24 Toyota Hilux, to Mauritania. The donation which was made
Monday is part of the 2 million U.S. dollars food aid which was
announced for Mauritania by Saudi Arabia. The donation includes
1 million U.S. dollars for buying food products and another 1
million U.S. dollars to facilitate the purchase of vehicles for
the transportation of the relief food.. ..According World Food
Program (WFP), Saudi Arabia is the second biggest source of
funds for its programs in Mauritania.." [more]
~~~~~~~~ [ Jun
12 ] ~~~~~~~~~
Abdullah’s
5-Nation Visit Next Week [Jun 12]
"King Abdullah Bin Abdul Aziz, Custodian of the Two Holy
Mosques, is scheduled to start official visits next week to
Spain, France and Poland at the invitation of the leaders of
these countries. The King will also visit Sharm El-Sheikh and
Amman on his way back to the Kingdom. The Monarch will hold a
series of official talks with the leaders of the respective
countries. The Monarch is expected to discuss means to boost
bilateral cooperation besides reviewing the current regional and
international issues with special emphasis on situation in
Palestine, Iraq and Lebanon.." [more]
Saudi Prince
in British Arms Case Denies Secret Payments [Jun 12]
" Prince Bandar bin Sultan, at the centre of British media
reports he received a huge commission for a
multi-billion-dollar arms deal, insists all the funds went to
the Saudi government. 'The allegations in The Guardian have
nothing to do with the truth and reality but represent a
pinnacle of slander and lies,'.. ..The British newspaper has
alleged payments totaling more than 2 bln usd were paid to
Prince Bandar. Britain's defence giant BAE is alleged to have
set up a secret slush fund for members of the Saudi royal family
to secure continued business, dating back to the massive Al-Yamamah
arms deal signed in 1985.." [more]
Oil Trades
Little Changed After Rising on Saudi Shipment Cut [Jun 12]
"Crude oil was little changed in New York after rising yesterday
on signs the Organization of Petroleum Exporting Countries may
extend production cuts to trim global stockpiles. Saudi Arabia,
the world's biggest exporter, said it would curb shipments for a
ninth month in July. An Energy Department report tomorrow will
probably show above-average oil stockpiles in the U.S. fell
400,000 barrels last week as refiners boosted output to meet
summer demand, according to a Bloomberg News survey of 13
analysts. The report will probably show gasoline inventories
gained 1.5 million barrels, a sixth weekly increase.." [more]
A $300 Billion
Metropolis Will Showcase a New Saudi Arabia [Jun 12]
"..the Tabouk regional governor, Prince Fahd bin Sultan, this
year will begin construction on what is intended as a showcase
for a new Saudi Arabia: a $300 billion multicultural metropolis
designed to lure 700,000 inhabitants from around the globe. The
construction of this and five other megacities scheduled for
completion by 2020 will be funded by oil revenue. Five extended
families in the Middle East own about 60 percent of the world's
oil, and the House of Saud controls more than a third of that
amount, according to Robert Baer, a former CIA field officer in
the Middle East.. ..Hariri's plans call for the sprawling Red
Sea megacity to be powered by solar energy and wind farms. A
golf course and yacht club are in the works, along with
residential estates and vacation villas. Cheap Saudi oil will
fuel the industrial parks scheduled to fan deep into the now
hardscrabble desert.." [more]
UN Envoy
Raises Alarm on Middle East [Jun 12]
"UN envoy Terje Roed-Larsen raised an 'alarm' about the
situation in the Middle East, warning that the region faces the
possibilities of full-scale war.. ..Roed-Larsen, the current UN
envoy for Lebanon-Syria issues who for many years was the top UN
Mideast envoy, said 'the geopolitical landscape of the Middle
East has changed fundamentally over a few years.' 'A few years
ago, as it had been over many, many decades, the center of
gravity for all the conflicts were the Israeli-Arab conflicts,'
he said. 'Now, there seems to be four epicenters of conflict in
the region with their own dynamics, the Iraqi issues, the
Iranian issues, the Syrian-Lebanese issues, and of course the
heart of hearts, the traditional conflict, the
Palestinian-Israeli issue.'.." [more]
Armed Forces
Ready to Face Any Eventuality, Khaled Says [Jun 12]
"Saudi Arabia’s armed forces are ready to confront any
eventuality, Prince Khaled ibn Sultan, assistant minister of
defense and aviation for military affairs, stated yesterday when
asked about Iran’s threat to strike strategic Gulf targets if it
was attacked by the United States.. ..Prince Khaled expressed
his hope that the leaders in the region would work for avoiding
any military confrontation between Iran and the US. Asked about
joint US and Israeli military maneuvers in the Gulf, the prince
said every country has the right to conduct such training
programs. 'The US naval fleet has been present in the Gulf for
quite a long time'.." [more]
Saudi Stock
Market Holds a Tiger by the Tail [Jun 12]
"The Saudi stock market tumbled 2.75 percent yesterday as
investors dumped stocks to prepare for the launch of several
upcoming initial public offerings. The continuing IPO of Jabal
Omar Development Co., which opened for subscription on Saturday,
also contributed to the fall as it attracted huge investment in
just three days of its opening. The company offers 201 million
shares or 30 percent of the total to Saudis at the rate of SR10
per share. The Tadawul All-Share Index plunged 203.16 points to
7,172.57 yesterday, inching closer to 7,000 mark. All the traded
stocks fell yesterday in market turnover of SR6.32 billion.." [more]
~~~~~~~~ [ Jun
11 ] ~~~~~~~~~
Al Qaida Link
Seen in Top Officer's Killing [Jun 11]
"..Colonel Nasser Al Othman, of the General Investigation
Department, was found dead on his farm in Qasim region. At that
time, analysts said that the murder of Colonel Nasser Al Othman
is similar to the murder of Lt Col Mubarak Al Sawat, another
Saudi officer who was killed by terrorists outside his home in
Jeddah in June 2005.. ..The official, however, pointed out that
the results of the investigations would be announced to the
public immediately. He didn't say when he expects investigations
to be completed. "Throughout the history of Saudi security there
was no crime recorded against an unknown person. This is what
was proved by incidents and facts even if investigations took a
lot of time," the official indicated.." [more]
Saudi Telco
Eyes $1bn in Africa Deals [Jun 11]
"Saudi mobile operator HITS Telecom, which won Uganda's fourth
GSM licence in March, is looking to spend $1 billion on seven
licences in Africa, a Saudi-owned newspaper reported on Monday.
Three deals could be announced in the next two weeks, including
in the Democratic Republic of Congo and Tanzania, Asharq al-Awsat
quoted Mohamed Bahiri, a member of HITS Telecom's board, as
saying.. ..HITS Telecom has set up a Cayman Islands-registered
subsidiary with a capital of $300 million to manage its
operations in Africa, the newspaper said. It hopes to have
between 4 million and 6 million users in Africa in five years.."
[more]
Saudi
Maintains Asia Oil Supply Curbs for July [Jun 11]
"Top oil exporter Saudi Arabia told Asian lifters to expect the
same crude volume for July as they have been getting since
April, showing no signs of boosting production to soften prices
near $70 a barrel. Saudi Arabia will supply crude oil to Japan
and South Korea at about 9,5-10,0% below contracted volumes in
July, the same as June, two Japanese industry sources and one
South Korean source said today. Saudi’s cuts have been kept
unchanged since April supplies, a deeper reduction compared with
7-8% below contracted volumes for March.." [more]
Foreign
Investment Creates 223,000 Jobs in Saudi Arabia [Jun 11]
"Foreign investment in Saudi Arabia created 223,000 jobs last
year, said an official at the Saudi Arabian General Investment
Authority (SAGIA) in remarks published yesterday. Dr Awad Al
Awad, Sagia deputy governor for investment affairs, noted that
70,000 of those jobs were filled by Saudis, adding that 90 per
cent of foreign investors offered jobs through their
investments. During the past few years, the Saudi government has
been encouraging foreign direct investment, particularly
investment that is tied to joint ventures with Saudi partners.."
[more]
Commission to
Form Legal Wing [Jun 11]
"The Commission for the Promotion of Virtue and Prevention of
Vice is moving to create a legal wing to address charges against
its members as well as upgrade operations, the Commission's head
said Sunday.. ..Sheikh Al-Ghaith said the legal wing is part of
a package of new guidelines on the tasks of Commission members.
The legal department would, besides representing members in the
Court of Grievances, serve to teach members the new regulations
and measures, he said. The Sheikh told the directors to ignore
public outcry in the wake of the recent allegations, accept what
is right and cast aside the rest. None of the Commission members
detained as part of the investigations had previous criminal
records, he said. The Sheikh, however, made it clear that
Commission members would be held accountable for their
"mistakes" in line with new guidelines in this regard.." [more]
Tuwaijeri’s
Death a Great Loss to Nation [Jun 11]
"Abdul Aziz ibn Abdul Mohsen Al-Tuwaijeri, assistant deputy
commander of the National Guard, died yesterday at the age of 95
following an illness, the Royal Court has announced. Funeral
prayers for Al-Tuwaijeri will be held at Imam Turki ibn Abdullah
Mosque in Riyadh after Asr prayers today and his body will be
buried in Al-Oud Cemetery. The Royal Court commended Al-Tuwaijeri’s
long-standing services to the Kingdom. “He served the state for
about 80 years with loyalty and dedication,” it said.. ..Al-Tuwaijeri
began his services as a volunteer in King Abdul Aziz’s army. He
was appointed undersecretary at the National Guard in 1381 and
became assistant deputy commander in 1395.." [more]
SR60bn Lost in
Investments Annually [Jun 11]
"The Saudi economy loses SR60 billion ($16 billion) in
investments and more than 120,000 jobs annually as a result of
bureaucratic practices in addition to other reasons that
obstruct the implementation of vital projects, according to a
senior official at Saudi Arabian General Investment Authority
(SAGIA). 'The main challenges facing investors are the nature of
regulations and the internal procedures in addition to a lack of
infrastructure,'.. ..'SAGIA will not accept less than the 30th
position this year in terms of economic competitiveness and we
expect the Kingdom will reach the 10th position by 2010,' the
official said. At present the Kingdom is in 38th position.." [more]
~~~~~~~~ [ Jun
10 ] ~~~~~~~~~
Saudi Arabia:
An Ally we Cannot Afford to Lose [Jun 10]
"Ministers have blocked an investigation by the Serious Fraud
Office into the al Yamamah arms deal, claiming that our
relationship with Saudi Arabia is of over-riding importance. Do
they protest too much? I think not. It is time for some realism
in our Middle East policy. Our fundamental mistake has been to
judge Middle Eastern countries by Western standards. This is
what lay behind our ghastly mistake in invading Iraq. We must
not repeat this basic error in our dealings with the other key
countries in the region. Saudi Arabia is such a key country.." [more]
Terror
Operatives Are Tools in Hands of Others: Naif [Jun 10]
"The 11 terrorist financiers and plotters who were arrested by
Saudi authorities last week were more dangerous than those who
had carried out terrorist attacks in the Kingdom, Interior
Minister Prince Naif stated yesterday. “These arrested persons
have played a big role in the terrorist incidents that have
taken place in the Kingdom, much more than those who carried
them out,” the Saudi Press Agency quoted the minister as saying.
Prince Naif said the terror operatives were just tools in the
hands of the 11, who financed and organized the attacks. He
hoped the arrest of the 11 would lead to the eradication of
terrorism from the country.." [more]
GCC Banks on
Recovery Track [Jun 10]
"GCC based banks, which reported a substantial decline in
profits last year, are recovering fast from the impact of market
corrections, according to analysts at international rating
agencies. In its assessment of the region's banking industry,
Standard and Poor's (S&P), in its report said that despite the
market correction, the asset quality of banks in Saudi Arabia
has improved substantially due to the very strong economic
environment and conservative provisioning policies. The banking
system in Saudi Arabia is the largest in the Gulf and among the
most profitable.." [more]
Riyadh
Governorate Confirms Probing Complaint Against Commission [Jun
10]
"The governorate of Riyadh confirmed yesterday to Arab News that
it is investigating a complaint filed by a Saudi citizen against
the Commission for the Promotion of Virtue and Prevention of
Vice for alleged harassment and detention of his two sons. The
father claims members of the moral police wrongfully arrested
his two sons for possession of alcohol and for having illicit
contact with a 16-year-old girl. He also said they wrecked his
son’s car when they chased the young men in two unmarked
vehicles.. ..Arab News tried to get a response from the
commission but no one there was answering the phone yesterday.
The news comes as president of the commission Sheikh Ibrahim Al-Ghaith
is scheduled to hold an emergency meeting today with the heads
of virtue centers in the Kingdom to discuss the conduct of field
operatives and the handling of suspects.." [more]
Saudi
Inflation Up in April on Food Prices [Jun 10]
"Saudi Arabia’s annual inflation, as measured by the cost of
living index, rose slightly to 2.9% in April as the cost of some
food products climbed, state news agency SPA reported. Compared
to its level in the previous month, the index rose 0.1% in
April, SPA said on Friday, quoting a report from the Economy and
Planning Ministry’s statistics and data department. Annual
inflation was 2.86% in March. The ministry said food and
beverages drove April’s inflation, with prices for
locally-produced potato rising 80% and eggs 19.7%.." [more]
SAP Arabia
Looks to Make up Lost Ground in the Saudi IT Space [Jun 10]
"SAP Arabia launched the SAP Technology Tour in Khobar, Saudi
Arabia last month to showcase their latest developments to
customers in the Kingdom. Attendees took part in informative
presentations, industry- and IT-specific breakout tracks, and
focused planning sessions. The tour was launched in response to
the local need for closer collaboration with the software
giant’s local representative. Research from Business Monitor
estimates the value of the Saudi IT market will rise to US$3.8bn
by 2010. While the numbers are lower than that of other reports,
including IDC and Datamonitor, Business Monitor has been
criticized for its out of date information, including the
inaccuracy that Oracle does not have an office in the Kingdom.
To date, Oracle is the only dedicated ERP vendor with a direct
presence in Saudi Arabia.." [more]
Sabic Boosts
Saudi Bourse [Jun 10]
"Saudi Arabia’s main stock index rose to its highest close in
more than a week yesterday, lifted by Saudi Basic Industries Co
(Sabic).. .. The Saudi Arabian index gained 1.22% to 7,452.71
points, its highest close since May 30. “Blue chips have good
value now after the drops of the past week or two,” said Khan
Zahid, chief economist at Riyad Bank. Sabic led gains among the
five largest firms, rising 1.26%. Sabic and China’s Sinopec Corp
have agreed to invest over $1bn in a petrochemical plant in
China. 'Sabic was a big loser last week and it is coming back
from those lows,'.." [more]
Global Scholarship Program for Arab Women [Jun 10]
"Women professionals in the travel industry in Saudi Arabia and
the UAE have been offered access to a development program which
would develop their skills and further their careers. The
program, composed of 20 scholarships for the U21Global Executive
Diploma of Business Administration, is intended for graduates.
The very positive take-up on the graduate program last year from
a wide cross-section of the travel and tourism industry
encouraged co-sponsors MasterCard and U21 Global to extend it to
Saudi Arabia, the UAE and South Africa. 'We are excited to
extend the reach of this scholarship to South Africa, Saudi
Arabia and the UAE to allow more women in travel and tourism to
benefit from our business curriculum and to stay abreast of
industry trends while also managing work commitments and family
life,'.." [more]
Saudis Top
Gulf Investors in Dubai Financial Market [Jun 10]
"Saudi Arabia topped the list of Gulf investors in Dubai
financial market over the past five months with an estimated
AED11.8 billion of the AED16 billion total investments, Arabic
business daily Al-Eqtisadiah reported yesterday, quoting Dubai
financial market sources. Kuwait, Qatar and Bahrain took the
second, third and fourth positions, respectively. The Saudi
deals accounted for 7.5 percent of the AED216 billion total
transactions, inclusive of other Arab and non-Arab investors.
The 27,777 Saudi investors constituted 60 percent of the 46,462
investors belonging to the Gulf region.." [more]
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