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Saudi Students in US Told to Be Alert [Jul 14]
"Saudi students in the US have been asked to report to Saudi Cultural Attache in Washington DC if they receive calls from local security authorities. The students are to refrain from discussing sensitive issues that may be misunderstood.." [more]

Free Rizana, Women’s Education and Research Centre appeals to Saudi King [Jul 14]
"The Women’s Education and Research Centre has appealed to the Saudi King to pardon Rizana Nazik who is facing execution for the alleged murder of her Saudi employer’s infant. The Centre said they were making this appeal as she is only 17 years old child. They also pointed out that the accident was not deliberate but occurred due to Rizana’s youth and inexperience. 'She was not provided with a translator on time and we understand that the child died from choking and this was not communicated properly to all concerned. This was also further complicated by miscommunication,' the Centre said in a release. 'We note that the Kingdom of Saudi Arabia has ratified the UN Convention on the rights of the child.'.." [more]

Middle East Demand Powers the Resurgence of Fuel Oil [Jul 14]
"Surging economic growth and power demand in the Middle East are giving fuel oil a new lease of life and heralding big changes in international trade of the dirty left-over product of refined crude. As European demand for fuel oil has waned in recent years, its value has slump-ed, prompting refiners to upgrade plants or process lighter crude oil to reduce output of the loss-making product.. ..That is about to change, with repercussions for all three regions. 'There is strong demand growth for fuel oil for power generation in the Middle East among countries that don't have enough gas,'.." [more]

Saudi Firm Eyes Indian Baby Care Market [Jul 14]
"Saudi Arabia-based Al Batterjee Group plans to set up a manufacturing plant for baby care products in India and is targeting a turnover of Rs 20 crore in the first year of operations in the country. Company's Managing Director Sohail Fayyad told a press meet here that the manufacturing facility would be established soon.. ..The Saudi Arabia-based diversified group, with an annual turnover of $ 200 million, already has an understanding with Liyod Steel India for manufacturing of various steel products. The $ 80 million venture is expected to bring the group to the forefront of the Saudi steel industry.." [more]

HP and Al-Bilad Arabia Announce Strategic Partnership in Saudi Arabia [Jul 14]
"HP and Al-Bilad Arabia announced today a strategic partnership in Saudi Arabia in the oil and gas industry. This partnership between the two IT companies will localize the global HP consulting and integration experience especially for large SAP projects and bring it to the Saudi market. It will also help Al-Bilad Arabia to continue to expand its leadership in the Gulf market.." [more]

Crude Oil Prices Surge to a New 11 Month High [Jul 14]
"Oil rose yesterday, hitting an 11-month high above $77 a barrel on speculative buying as North Sea production problems and forecasts for rising demand tightened the supply outlook. Oil has gained more than $6 in two weeks on a wave of buying by funds during the US summer vacation season, when demand for gasoline peaks in the top oil-consuming country.. ..Adding to supply jitters was a report by the International Energy Agency which forecast oil demand growth will grow more quickly in 2008 than this year. But the West’s energy watchdog also but demand growth for this year after receiving new data for 2006, and said higher output and refinery capacity should ease pressure on supply.." [more]

Midyear Results Buoy Up Saudi Stocks [Jul 14]
"The Saudi stock market made hefty gains last week, buoyed by emerging reports about the performance of blue chip firms in the first six months of the year. The Tadawul All-Share Index (TASI) climbed 3.94 percent or 282.68 points, closing the week at 7,451.38 points, up from 7,168.70 points in the previous week. TASI is currently 6.1 percent lower than the year’s start.." [more]

Teenager's Beheading Tests Saudi's Sharia Law [Jul 13]
"The plight of a Sri Lankan teenager facing the death sentence in Saudi Arabia has received sympathetic attention from the global media during the past week. She is charged over an incident that, according to her, happened while she was trying to bottle-feed a 4-month-old infant.. ..the tragic incident occurred in which the infant choked as Rizana was trying to feed him.. .. On June 16, however, the court sentenced her to death by beheading.. ..Rizana Nafeek's case will test the justice system in Saudi Arabia, and sharia law in general, for better or for worse.." [more]

Asian Cup Group D Preview: Saudi Arabia - Indonesia [Jul 13]
"90,000 fans are expected to cram into the Gelaro Bung Karno Stadium on Saturday night as Indonesia take on Saudi Arabia in the second game in Group D.. ..The Saudis have reached five out of the last six Asian Cup finals.. ..The Saudis will be looking to get into winning ways after a 1-1 draw with South Korea. Coach Helio Cesar dos Anjos promised improvements after that result and the new boss knows that failure to defeat Indonesia will start to bring back unwanted memories of the team’s first-round exit in 2004. Bahrain pointed to the Indonesians’ pace and passion of the fans as problems. There will be even more fans on Saturday and a young Saudi team will not find it easy.." [more]

Jeddah Festival Opens [Jul 13]
"Hundreds of thousands of Saudis, expatriates and foreign tourists thronged the Corniche last night to witness the launch of the Jeddah tourism festival, one of the major annual events of the Kingdom.. ..About three million tourists and holidaymakers are expected to attend the festival that includes 226 events, mostly entertainment programs.." [more]

Carrier Corp. Lands Multimillion-Dollar Contract [Jul 13]
"With 2.5 million pilgrims expected during the Haj season and 7.5 million visitors for Umrah, which includes two million pilgrims during Ramadan alone, the Kingdom’s air-conditioning industry has received a big boost. Carrier Corp., a business unit of United Technologies Corp., has announced that it has landed a multimillion-dollar contract for the supply of Aquaforce chillers to Safwa Hotel in Makkah.. ..'The rapid pace of infrastructural development in the Kingdom has triggered a huge demand for cooling systems across various segments,' said Baqir Ali Johar, general manager of Carrier Saudi Arabia.." [more]

Saudi Arabia Upholds Oil Supply Cuts for August [Jul 12]
"Saudi Arabia told major oil companies and Asian refiners on Wednesday that it would not relent on its oil export curbs next month, despite crude prices nearing record highs. Saudi Oil Minister Ali al-Naimi said none of its customers is asking for more crude oil.. ..In monthly notices sent to its customers, state oil giant Saudi Aramco said it would continue to supply its Asian lifters with about 9.5 to 10 percent less than their full contractual volume in August, as it has done since April, two industry sources in Japan and another in South Korea.." [more]

Raytheon Denies Ties to DoJ Probe on BAE [Jul 12]
"Military contractor Raytheon Co. on Wednesday denied accusations it was involved in getting the U.S. Justice Department to investigate British defense conglomerate BAE Systems Plc. The Waltham, Mass.-based company said any suggestions are "patently false" that it influenced Sen. John Kerry, D-Mass., who wrote letters last month to Justice and the U.S. Treasury Department asking about allegations BAE had paid bribes to the Saudi Arabian government.. ..Brundage confirmed that Kerry had written to Justice and Treasury regarding the matter, and he has yet to receive a response from either agency. Last month, Justice opened an investigation into BAE, one of the world's largest arm makers, to determine whether the company illegally sweetened a Saudi oil-for-arms deal with the British government.." [more]

Based on Astronomy, Ramadan Is on Sept. 13 [Jul 12]
"Based on astronomic calculations, Sept. 13 (Thursday) will be the first day of Ramadan while Dec. 19 (Wednesday) will be Arafat Day during Haj this year, according to Sheikh Abdullah ibn Munie, a member of the Council of Senior Islamic Scholars and the Umm Al-Qura Calendar Committee. Sheikh Munie, however, pointed out that the new crescent of Ramadan and Shawwal should be sighted by witnesses to determine the beginning and end of the fasting month, in accordance with Shariah regulations.. ..Islamic scholars around the world are divided on whether the beginning and end of Ramadan could be determined on the basis of astronomical calculations.." [more]

Arab National Bank’s Rating Upgraded by Fitch [Jul 12]
"Fitch Ratings has recently upgraded Saudi Arabia-based Arab National Bank’s (ANB) Long-term Issuer Default Rating (“IDR”) to ‘A’ from ‘A-’ (A minus), Short-term IDR to ‘F1’ from ‘F2’ and Individual rating to ‘B’ from ‘B/C’. Simultaneously, the agency has affirmed ANB’s Support ‘2’ rating. Following the upgrade, the bank’s outlook is now stable. Fitch executives said that their rating reflected ANB’s sustained strong performance, which Fitch expects to continue for the next few years while the Saudi Arabian economic environment remains benign.." [more]

Late Penalty Salvages a Draw for Saudi Arabia Against Koreans [Jul 12]
"Saudi Arabia salvaged a 1-1 draw against South Korea with a second-half penalty in an Asian Cup match interrupted for 25 minutes due to floodlight failure at Indonesia's Soviet-era stadium. Saudi striker Yasser Al Qahtani fired home the penalty on 75 minutes after the referee judged that South Korean defender Oh Beom-seok pulled down striker Malek Maaz.." [more]

Two Years of King Abdullah’s Rule [Jul 11]
"Today marks the passage of two years on the accession to the throne of King Abdullah Bin Abdul Aziz, Custodian of the Two Holy Mosques. During the last two years, the Kingdom has made remarkable achievements characterized by comprehensiveness and integration, thus molding a unique era in the country's progress and development.. ..his rule shows his keenness on legislating rules and building the country's institutions. Thus a series of Royal orders have been issued rendering effective developmental solutions to this expansion of the country which in their end yield best results.." [more]

Saudi Leader: Don't Blame Us For High Prices [Jul 11]
"Near-record oil prices are unrelated to supply and demand and none of Saudi Arabia's customers is asking for more crude, the kingdom's Oil Minister Ali al-Naimi said on Wednesday. Tightness in supplies of refined fuel like gasoline and international political tensions are helping propel oil's rally, Naimi told a news conference. 'The price today is not at all connected with the fundamentals of the oil industry. There is a good balance between supply and demand. Inventories are in a comfortable position, therefore fundamentals do not support high prices today,' the oil minister of top exporter Saudi Arabia said.." [more]

Saudi Economic City Developer to Launch IPO [Jul 11]
"The developer of an "economic city" project in northern Saudi Arabia will sell 30% of its shares to the public next month, Saudi newspaper Okaz reported on Wednesday. The developer of the Prince Abdul Aziz bin Mousaed Economic City was planning an initial public offering of shares and would have a capital of around 7.5 billion riyals ($2 billion), a partner in the project said last year. The sale would take place in mid-August and a Spanish company had taken a 30% stake in the project.." [more]

Research Center for Renewable Energy Set Up [Jul 11]
"Saudi Arabia has set up a world-class multimillion-riyal research center for renewable energy that seeks to empower the country to continue playing the role of world energy leader for years to come. The center, which is housed at the campus of the Dhahran-based King Fahd University of Petroleum and Minerals (KFUPM), is currently working on resource mobilization before its premier research activities kick off in a year’s time.. ..The move to open this research center is also significant keeping in view the fact that Saudi Arabia continues to face long-term economic challenges that place pressures on Saudi oil revenues. Hence, there is a need to diversify the economy and decrease reliance on oil, earnings of which make up around 90-95 percent of total Saudi export earnings, 70-80 percent of state revenues, and around 40 percent of the country’s gross domestic product (GDP).." [more]

Saudi Index Leads Gulf Markets Higher [Jul 11]
"Saudi Arabia, the region’s largest bourse, led the Gulf markets up yesterday, propped up by gains in index heavyweight Saudi basic Industries Co, or Sabic.. ..Riyadh’s Tadawul All Share Index, the worst performing Gulf bourse this year, closed up 0.8% at 7293.37, breaking a two-day losing streak. A 1.7% rise in the index heavyweight Sabic pushed the index up. Saudi Arabia British Bank and Al Rajhi Bank lost 2.9% and 1.7% respectively after the lenders reported fall in second-quarter results.." [more]

Awareness Drive to Promote Human Rights Set [Jul 11]
"The Ministry of Islamic Affairs, Guidance, Endowments has agreed with the Human Rights Commission (HRC), Saudi Arabia’s governmental human rights body, to begin an awareness campaign in the Kingdom to promote the ideals of human rights in the teachings of Islam.. ..The campaign will focus on creating awareness among Saudis and residents in the Kingdom about the teachings of human rights in Islam through Islamic propagation (dawa) symposiums, training courses, as well as publishing brochures on human rights in Islam and distributing them in the Kingdom.." [more]

Iraqi Delegation Heads to Saudi Arabia to Coordinate in Fighting Al Qaeda [Jul 10]
"An Iraqi delegation headed to Saudi Arabia on Tuesday to discuss how the two countries can coordinate in fighting the al-Qaida terror network, a senior Iraqi official said. "There is no doubt that the majority of the suicide bombers and those who drive the vehicles to blow up our innocent civilians, Iraqis, are Saudis," said Mouwaffak al-Rubaie, who heads the delegation. "We need to stop the flow of suicide bombers, we need to stop the fatwas (religious edicts) coming from Saudis to justify the killings of innocent Iraqis." "We need to coordinate our work and get into common understanding with the Saudis.." [more]

Alwaleed's Kingdom Opens IPO in Bet on Saudi Bourse [Jul 10]
"Billionaire investor Prince Alwaleed bin Talal starts selling shares in his Kingdom Holding on Tuesday in a cautious bet on the recovery of the Saudi bourse, the worst performer this year among Arab markets. Kingdom is selling 315 million existing shares, or a 5 percent stake, to Saudi nationals at 10.25 riyals ($2.73) each, valuing the company at $17.2 billion. The IPO will run until July 18.. ..He is taking his company public after a stock market crash halved the value of the Saudi bourse last year and diminished the appetite for initial public offerings in the world's biggest oil-exporting region.." [more]

IEA Sees Supply Crunch Looming [Jul 10]
"World oil demand will rise faster than expected to 2012 while production lags, leading to a supply crunch, the International Energy Agency said yesterday. In its Medium-Term Oil Market Report, the adviser to 26 industrialised countries said demand will rise by an average 2.2 per cent a year between 2007 and 2012.. ..The report points to a greater reliance on the Organisation of Petroleum Exporting Countries, source of more than a third of the world's oil. While foreseeing higher demand, the IEA expects less supply to come from producers outside Opec and the agency also trimmed a forecast for the 12-member group's unused production capacity.." [more]

Cleric Opposes Investment in Kingdom IPO [Jul 10]
"Interest in the public sale of a stake in Saudi Prince Alwaleed bin Talal's Kingdom Holding, which began on Tuesday, could be tempered by clerical opposition to a business empire often attacked as un-Islamic. The billionaire royal, often accused as being "al-amir al-majin" (the depraved prince) by Islamists on internet forums, is selling 5% of the flagship firm that has made him one of the richest people in the world. But a Saudi cleric who specialises in giving religious opinions on economic issues this week deemed Kingdom mired in activities forbidden by Islam, such as usury and alcohol.." [more]

Saudi Urges Gaza Takeover Probe [Jul 10]
"Israeli Prime Minister Ehud Olmert and Palestinian President Mahmoud Abbas will hold talks next week, Olmert's office said yesterday, as regional leaders intensify efforts to isolate Gaza's Hamas rulers. Saudi Arabia, meanwhile, called for reactivation of an Arab commission charged with probing the violent takeover last month of the Gaza Strip by Hamas. 'The Arab League must play a central role regarding (events) on the Palestinian scene, especially the application of its last ministerial meeting decision to send a commission of inquiry' to Gaza, the government said in a statement reported by the official SPA news agency. The statement came after a weekly cabinet meeting presided over by King Abdullah.." [more]

Jeddah Festival to Attract Three Million Tourists [Jul 10]
"The upcoming 28th round of the annual Jeddah Summer Festival is, according to its organizers, expected to attract more than 3 million tourists and generate an income of more than SR2 billion. The festival, which is planned to kick off on July 12, includes 200 different events and activities for all strata of society, especially children and women, said Saleh Al-Turki, chairman of the Jeddah Chamber of Commerce and Industry (JCCI).." [more]

Abdullah, Moussa Discuss Lebanon [Jul 9]
"Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with Arab League Secretary-General Amr Moussa on major issues and developments in the region. The Arab League chief was in the Kingdom on the first leg of a tour that will also take him to Syria to discuss the crisis in Lebanon.. ..King Abdullah and Moussa discussed renewed Arab mediation in the Lebanese political crisis that has paralyzed the country for more than seven months, Arab diplomatic sources said. An Arab League mission to Beirut last month ended with no progress in getting Lebanon’s feuding political factions to the negotiating table.." [more]

Edict Against Liberals Raises Violence Fears [Jul 9]
"A religious edict by a prominent Saudi cleric suggesting liberals are not real Muslims has inflamed debate over reforms in the country, with self-professed liberals fearing they will be attacked. Responding to an online request for a religious edict, or fatwa, Shaikh Saleh Al Fozan said last month: 'Calling oneself a liberal Muslim is a contradiction in terms ... one should repent before God for such ideas in order to be a real Muslim'. The fatwa said liberal in this context meant 'freedom which is not subject to the bounds of Sharia.'.." [more]

Saudi Conservatives Blocking Online News -Editor [Jul 9]
"Saudi Arabia is blocking one of the Arab world's most popular online news outlets because of pressure from religious conservatives who are "fighting the future," the site's Saudi editor said this week. Since it was launched in 2001, Elaph (www.elaph.com) has become a prominent source of political and entertainment news in the Arab world with around 1.5 million hits a day, Managing Editor Sultan al-Qahtani told Reuters in Riyadh. Though the site is Saudi-owned, it has been blocked by Saudi authorities since May 2006. Its owner, who has business interests in Morocco, registered Elaph in Britain. The site employs 90 journalists worldwide.." [more]

Saudi Role in Camp Battle Overblown [Jul 9]
"The number of Saudis in the Al Qaeda-inspired Fatah al-Islam group battling the Lebanese army has been exaggerated by some Lebanese, a Saudi official was reported as saying yesterday. Lebanese troops have been fighting the militant group at a Palestinian refugee camp in north Lebanon since May 20. More than 200 people have been killed.. ..officials have said dozens of Fatah al-Islam’s members are from the kingdom, after hundreds of Saudis are thought to have gone to Iraq to fight with Al Qaeda militants against US forces and the US-backed government there. But Riyadh’s consul in Beirut, Abdel-Hadi al-Shafei, said few of the dead fighters had been identified as Saudi and there was no evidence that many more were fighting at the camp.." [more]

Brokerage Revenue Fall Pulls Down Saudi Bank Profit [Jul 9]
"Saudi Arabia's third-largest bank by market value, said yesterday second-quarter profit fell 9.4 per cent as brokerage revenue declined. The profit of $194.1 million in the three months to June 30, beat forecasts from two of three analysts polled by Reuters last month. The forecasts ranged from 629.1 million riyals to 786.9 million riyals. The decline was due to a loss of income from trading operations on the Saudi bourse, the Gulf's worst performer last year and so far this year, Fransi Chairman Sheikh Ibrahim al Touq said in a statement. 'The bank succeeded in raising revenue from conventional banking activities which will compensate for the decline in commissions from trading in Saudi shares,' he said.." [more]

Saudi Printing's Share Offering Closes With 36% Oversubscribtion [Jul 9]
"Saudi Printing and Packaging Co's (SPPC) 396 million riyal ($105.6 million) initial public offering closed 36.4 per cent oversubscribed, lead manager Samba Fin-ancial Group said yesterday. The IPO, which closed on Wednesday, attracted offers of 540 million riyals from more than 1.3 million Saudi retail investors, Samba said in a statement. Because more than 540,700 individual investors applied for SPPC's shares, Samba reduced the number of shares reserved for institutions from 70 to 50 percent of the total offering.." [more]

Kingdom to Get World’s Largest Ammonia Plant [Jul 9]
"Maaden and Samsung Engineering signed yesterday a contract to build the world’s largest ammonia plant. The plant is the final major infrastructure project in Maaden’s phosphate production project, which will make the Kingdom a world leader in phosphate production. The output of the completed project will supply 10 percent of the world’s annual requirement for phosphates. The SR3.6-billion contract with Samsung Engineering will deliver an ammonia production plant with a production capacity of 3,300 tons per day.." [more]

8 Paintings by Saudi Girls Win UN Prize [Jul 9]
"Eight Saudi girl students won in a paintings and greeting cards competition last week organized by the United Nations. The winning paintings are to help raise awareness among the youth of the importance of human development. About 140 girl students from nine schools in Saudi Arabia joined the contest. "These Saudi students participate in many international events to foster partnerships in line with the aspiration of the Kingdom to cope with international culture and contribute to global events, " said Shadia Ameen, Dar Al-Fikr headmistress.." [more]

Govt Agencies Told to Phase Out CFCs [Jul 9]
"As part of its intensified effort to protect the environment, the six-nation Gulf Cooperation Council (GCC) has called on government agencies and private organizations to phase out harmful substances including chlorofluorocarbon (CFCs) that deplete the ozone layer.. ..The new guidelines called for the imposing of penalties on business entities, which import or deal with equipment using ozone-harming substances, and the monitoring of halons used in fire extinguishing systems. The guidelines have also stressed the need to exchange new information and research materials between the Gulf countries, while renewing call to phase out CFCs, harmful gases and chemicals that been contributing
to the depletion of ozone layer.." [more]

U.S. Human Trafficking Report Misses Progress: Saudi [Jul 8]
"Saudi Arabia has criticised U.S. charges that it is guilty of human trafficking, saying a U.S. State Department report was misleading and ignored Saudi efforts to stamp out the practice. Saudi Arabia was among 16 countries listed in an annual report released last month on the world's worst offenders in failing to prevent people being sold into the sex trade and servitude.. ..'Examining the American report on human trafficking, we felt that it was misleading ... It contains descriptions, opinions and understandings that are not necessarily true,' Turky Al Sudairy, head of the government's Human Rights Commission said in a statement published in Saudi newspapers.." [more]

BAE in New Multibillion-Pound Deal to Sell Hawk Jets to Saudis [Jul 8]
"British arms manufacturer BAE Systems is locked in negotiations for a new multibillion-pound deal to sell military aircraft to Saudi Arabia, just six months after the Government scrapped a corruption inquiry into a huge arms deal between the firm and the Saudis.. ..The arms industry bible Jane's Defence Weekly reports that BAE and the Saudi government are negotiating a new £1bn contract for 60 Hawk trainer jets. If that goes ahead, it will lock the Saudi air force, BAE and Britain's Royal Air Force into years of training co-operation that would be worth billions of pounds.." [more]

Saudi Businessman Blasts US Double Standard [Jul 8]
"Blasting the United States for its double standard in the Middle East policy, a Saudi businessman has said that while the country has a department of public diplomacy to try to undo the damage done to its image as a result of its wars in Afghanistan and Iraq, it persists in its pro-Israeli tilt along with a hostile attitude toward Muslims. This is one of the points raised by Turki Faisal Al-Rasheed, chairman of Riyadh-based Golden Grass Inc., an agricultural company, in a letter sent to all US congressmen.. ..Al-Rasheed said that 'when we talk of religious intolerance, the US, unfortunately, projects a poor image of a country that has become increasingly intolerant of Islam and symbols identified with this faith.'.." [more]

Saudi Bank Profits Fall [Jul 8]
"Saudi Arabia's Arab National Bank, the country's sixth-largest lender, said yesterday its second-quarter profit fell 1.1 per cent to 725 million riyals. The bank's first-half net profit rose 1pc to 1.37 billion riyals. First-half earnings per share were 3.01 riyals, compared with 2.98 riyals in the year-earlier period, Arab National said. Revenues in the six months to June 30 rose 5pc to 2.1bn riyals, while operating costs climbed 14pc to 735m riyals, it said. Shares of Arab National fell by 0.68 pc yesterday. Jordan's Arab Bank holds a 40pc stake in Arab National.." [more]

Q2 Expectations Power Saudi, Kuwait Shares [Jul 8]
"Saudi and Kuwait bourses, the two largest markets in the Arabian Gulf and the only ones open on Saturdays, closed up on the first trading day of the week as investors bet on positive second-quarter earnings. Riyadh’s Tadawul All Share Index advanced 2% to 7315.5, extending the late last week rally that pushed it firmly above the 7000-level. Sabic, the most weighted stock on the index, was among the biggest gainers and ended up 2.1% at 119.50 riyals. Strong second-quarter results are expected for the world’s largest petrochemicals firm by market value and that will boost the Saudi market this week.." [more]

The SUSRIS 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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