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Asian Cup: Saudis Vow to Silence Critics [Jul 21]
"Saudi Arabia's coach has proved his critics wrong so far in the Asian Cup and could shut them up altogether by winning Sunday's quarterfinal clash against Uzbekistan.. ..The team goes in to the quarterfinals on a high after demolishing Bahrain 4-0 on Wednesday. In its first group match, it drew with South Korea and then scored in the last minute against a determined Indonesia to win 2-1. 'We are in transition to a new generation,' dos Anjos, who was largely unknown to Saudi soccer fans until he took control of the national team six weeks ago, told a media conference Saturday. 'But up until now, we can say they are doing well.'.." [more]

TV Told Not to Promote Regionalism [Jul 21]
"Abdullah Al-Jasser, undersecretary at the Ministry of Culture and Information, has criticized Saudi owners of satellite channels for promoting regionalism in a recent press statement. He charged them with promoting narrow-minded regionalism.. ..He affirmed that, 'giving the television channels names such as the Al-Qassim Channel or Jeddah Channel is nothing but unwelcome narrow regionalism, which every loyal citizen should condemn.' The official continued that the founder of the Kingdom, the late King Abdul Aziz, unified the Kingdom on the principle of brotherhood of the people and the unity of the society with loyalty to the land and the state. The people have been following this path since then.." [more]

Saudi Arabia: Female Cases Rise by 25% in Labor Ministry [Jul 21]
"The number of complaints filed by females to the Primary Committee for Workers' Problems [PCWP] has increased to make up 25% of all filed cases and complaints, according to the Ministry of Labor.. ..This comes at a time when the Chairman of the PCWP revealed that some private companies use ploys to repel employees from the workplace, instead of firing them. He said, 'Nowadays, companies do not fire employees in a straightforward manner but instead put other means to play until the employee opts to quit of his own accord. This way the company prevents law suits.' Al-Ghamdi called upon companies to take heed to rules and regulations set by the Ministry of Labor. He warned owners of companies against neglect of their employees, and asked that they be given their full rights.." [more]

SRMG Appoints Booz Allen Hamilton as Consultant [Jul 21]
"The Saudi Research and Marketing Group (SRMG) announced the appointment of Booz Allen Hamilton, leading global consulting firm, as its management consultant for the development of its vast growth strategies aimed at guaranteeing its sustained growth besides fortifying its market competitiveness, according to an SRMG statement yesterday. Hamilton will make extensive studies on SRMG’s short term and medium term initiatives for the ideal performance of its media companies.." [more]

Corporate Results Keep Saudi Stocks Volatile [Jul 21]
"Saudi shares were volatile last week as corporate results for the first six months of the year continued to come out.The Tadawul All-Share Index (TASI) gained 0.67 percent last week, closing at 7,501.56 points, up from 7,451.38 points in the previous week. TASI is currently 5.4 percent lower than the year’s start. According to the weekly report of the Riyadh-based Bakheet Financial Advisors (BFA), the market was reacting to the mixed performance of the blue chip firms.." [more]

Expats Hopeful of Saudi Amendment [Jul 21]
"In March, the Saudi cabinet endorsed amendment to Article 16 of the Naturalisation Law. The Article pertains to granting Saudi nationality to foreign women married to Saudis or foreign widow of a Saudi. Implementation of the amended Article will come into effect later this month as the cabinet stipulates that the decision shall come into effect 90 days after being published in the official gazette.. ..The decision stipulates that the Interior Minister may delegate his authorities in this regard to whoever official he deputises, while in the previous provision only the minister has to decide in such matters.." [more]

Beware of Fake Jihad: Saudi Mufti [Jul 20]
"Saudi Arabia’s Grand Mufti Sheikh Abdulaziz Al-Shaikh has urged the Muslim youth to be aware of elements that were launching “fake jihad”. In an interview, he said that there were large numbers of such elements, which were giving lessons of fake jihad to the youth and misguiding the common man. 'Self-claimed mujahideen with their version of jihad are only distracting Muslims'.. ..Sheikh Abdul Aziz said that jihad, in present time, was to shun evil and follow the teachings of Islam.." [more]

Fire Reported at Saudi Aramco [Jul 20]
"There has been talk in the markets since yesterday about a fire which broke out at Saudi Aramco's Ras Tanura facility. On investigating, a polymerupdate team member was informed that the fire had broken out at Saudi Aramco's Ras Tanura North Product Terminal on Thursday at approximately 9:30 a.m.. The fire was brought under control by 10:30 a.m.. The area was undergoing maintenance activities at the time of the incident.." [more]

Saudi-Kuwaiti Owned Website Largest Job Portal in Arab World [Jul 20]
"With more than 50,000 job seekers and 5,000 employers — including 100 top corporate clients — registered within a few months of its being launched, a local recruitment portal, Mihnati.com, has emerged as the largest job portal in the Arab world with a slew of innovative features.. ..The portal, he said, has emerged as an integrated one-stop-shop for companies and institutions with recruitment needs. 'In fact, Mihnati.com can help you like no other organization can,' said Najjar, adding that the employers in the Gulf are becoming more and more interested in recruiting online.." [more]

Italian-Led Consortium Wins Railway Project [Jul 20]
"A Saudi-Italian-Russian consortium has won a SR22.5 billion ($6 billion) project to build the Jeddah-Makkah-Madinah high speed railway line, a source at the Italian Embassy in Riyadh told Al-Eqtisadiah business daily, a sister publication of Arab News yesterday. The source said the selected consortium comprises the local company Saudi Oger, Italian companies Italian State Railway FS and Finmeccanica, and a Russian company called RZD.. ..But in a recent statement to Al-Jazeerah newspaper, Transport Minister Dr. Jabara Al-Seraisry, chairman of the Saudi Railways Organization (SRO), gave no indication of any particular consortium being selected for the railway project.." [more]

Bank Shares Rally Over $929m Deal [Jul 20]
"Shares of Albaraka Banking Group rallied yesterday after Saudi Investment Bank agreed to buy 50 per cent of Bahrain-based Islamic lender. The Saudi bank said it had agreed to buy half of Albaraka Banking from Dallah Albaraka Group in an all share deal that would be worth $929 million at Wednesday's closing price.. ..Saudi Investment gets access to Albaraka's 230 branches in 10 countries. Saudi Investment will pay for the stake by issuing new shares to Dallah Albaraka, which together with its president, Shaikh Saleh Abdullah Kamel, owns 55pc of Albaraka Banking, Ahmed Abdul Ghaffar, assistant vice-president of investor relations at Albaraka Banking said.." [more]

Saudi Arabia Thrashes Bahrain, Tops Group [Jul 19]
"Three-time champion Saudi Arabia routed Bahrain 4-0 on Wednesday to finish atop Group D and remain in Jakarta for an Asian Cup quarterfinal during the weekend. Saudi Arabia scored twice in each half against Gulf rival Bahrain, which needed at least a draw in the Gelora Sriwijaya Stadium to qualify.." [more]

Our Focus Is on Local Tourism [Jul 19]
"The Supreme Commission for Tourism (SCT) has announced plans to build a full-fledged tourism information center and establish three new tourism projects along the Red Sea coast this year, a senior official from SCT announced yesterday.. ..Prince Sultan said.. ..that the aim of the future tourism projects was to invest in Saudi tourists — not foreign tourists. 'SCT’s focus is on local tourism. The tourist we are targeting is the local tourist, who travels abroad,'.. ..He mentioned that focusing on local tourists had its economical benefits as well in addition to it being a national duty. 'The Saudi citizen today spends generously. We will not forsake him easily,' .." [more]

Calls for Release of Saudi Divorcee [Jul 19]
"US-based Human Rights Watch called on Saudi Arabia overnight to release a woman forcibly divorced by a court because her family claimed her husband's tribal lineage was not good enough for them. 'Saudi courts responsible for protecting families and children instead have torn apart a married couple and their children,' said the group's Middle East director Sarah Leah Whitson. 'The government must rectify this travesty and end harmful lawsuits brought by a woman's male family members.' Fatima Azzaz was jailed in August 2006 after she refused to return to the home of half-brothers who had obtained a court ruling annulling her marriage to Mansour al-Timani.." [more]

A Young Saudi's Online Gambit [Jul 19]
"A desire to bring to life his favorite heroes in Islamic history initially spurred Thamer al-Sikhan toward storytelling, and he wrote for hours every day: first historic series, then drama and comedy shows, and finally, when he was in college, a screenplay. But in a country without much of an entertainment culture, with no movie industry, no performing arts schools, where cinemas are banned and television production is in its infancy, Sikhan knocked on many doors but could not find a way to bring his stories to the screen.. ..In February, Sikhan, 27, launched the Arab Internet Channel with two comedy shows he wrote, directed and produced. Since then, more than 2 million people in Saudi Arabia and in neighboring Arab countries have watched episodes online, downloaded them to their iPods or viewed them on their cellphones.." [more]

Saudi Electricity to Issue $1.33b Sukuk [Jul 19]
"A statement released by the Saudi Electricity Company (SEC) said that the company has signed subscription agreements for a $1.33 billion sukuk, the largest ever to be issued by a Saudi entity.. ..SEC had earlier given a 10-day subscription period to investors during which the order book built up quickly to $1.87 billion. The overwhelming demand allowed SEC to issue sukuk worth SR5 billion, matching the maximum permitted by Saudi regulatory authorities.." [more]

HP Targets Oil and Gas in Saudi Arabia [Jul 19]
"HP and Al-Bilad Arabia have come together in Saudi Arabia targeting the oil and gas industry. The two companies will work on localising HP solutions for large SAP projects in the region. HP services together with SAP consultancy offered by Al-Bilad Arabia will help oil and gas customers improve business processes, implement IT solutions and systems seamlessly with the existing infrastructures and provide ongoing maintenance and enhancement of IT applications as necessary.. ..HP has been working with SAP on more than 55,000 customer implementations.." [more]

Gulf Arab Foreign Acquisitions in 2007 [Jul 19]
"Oil-rich Gulf Arab state Qatar has made a bid approach for J Sainsbury Plc, which newspapers said valued the supermarket group at about 12 billion pounds ($24.5 billion), including debt. Following is a chronology of some of the largest purchases of the past six months: February: An affiliate of Saudi Arabia’s National Industrialisation Co, partly owned by Prince Alwaleed, agrees to buy the titanium dioxide pigment business of Lyondell Chemical Co for $1.2 billion.. ..Saudi Basic Industries Corp agreed to pay $11.6 billion in cash for General Electric Co’s plastics business in the largest foreign acquisition ever announced by a Gulf Arab investor.." [more]

Construction Boom Sparks Steel Demand in ME [Jul 19]
"The steel industry in the Middle East is heading for major expansion as crude steel production is projected to increase by nearly 70 percent from 15.4 million tons in 2006 to over 26 million tons by 2010. According to a report entitled “The Steel Industry Worldwide and Regionally: Assessment of Development and Outlook,” by the Kuwait-based Gulf Investment Corporation (GIC) released recently, steel demand in the region is dominated by long products, most of which are used in construction.." [more]

Bush's Proposed Conference Should Tackle Core Issues [Jul 18]
"Saudi Arabia yesterday welcomed US President George W. Bush's call for a Middle East peace conference, saying the meeting should tackle the core issues of the Israeli-Palestinian conflict. 'Saudi Arabia welcomes .. Bush's initiative, which contains important positive elements, including the call to end occupation and establish an independent, contiguous and viable Palestinian state,'.. ..'Regarding the international peace conference due to be held next fall, Saudi Arabia hopes this will come within the framework of a serious international endeavour that tackles the core issues of the conflict,' .." [more]

Kingdom Welcomes New Peace Initiative [Jul 18]
"Saudi Arabia yesterday welcomed US President George W. Bush's peace initiative which was announced in Washington on Monday. The US president called for an international conference later this year to include Israel, the Palestinian Authority and some of their Arab neighbors to help restart Middle East peace talks and review progress in building democratic institutions. A statement carried by the Saudi Press Agency quoted an official source as saying that the Kingdom welcomed Bush's initiative "because it specifically calls for an end to the Israeli occupation and the establishment of an independent, contiguous and viable Palestinian state.".." [more]

Huraisi's Father Wants Son's Assailants Executed [Jul 18]
"The father of the Saudi young man who was allegedly beaten to death when members of the Commission for the Promotion of Virtue and Prevention of Vice stormed his house in late May in the capital on the suspicion of his son selling alcohol has demanded execution of the persons responsible for his death. "I want execution. And I do not want just one person executed, but the three persons I saw beating up my son in the commission center that day,".. .."I am not dropping charges. They can offer any amount of money. I am not giving in," he added, referring to claims he made earlier, saying members of the commission had offered him money to drop the charges.." [more]

Indonesia Asks Saudi Arabia to Audit Airlines [Jul 18]
"The Indonesian government has invited Saudi Arabia to audit the safety standards of Indonesian airlines following its announcement of plans to adopt a European Union ban on all Indonesian airlines. "Saudi Arabia wants assurance that the kingdom is doing the right thing by adopting the EU ban," Transportation Ministry spokesman Bambang Ervan was quoted Wednesday by English daily The Jakarta Post as saying. "To convince them (otherwise), we have invited Saudi Arabia's General Authority of Civil Aviation (GACA) to do their own audit here".." [more]

HRC Visits Saudis in Syrian Jails [Jul 18]
"Dozens of Saudis are being held in Syrian jails on charges of trying to smuggle themselves into Iraq and other neighboring countries, the Human Rights Commission (HRC), Saudi Arabia's government rights body, said here yesterday. "A committee from the HRC visited Syria last week to meet officials there and also to meet the jailed Saudis," a source from the HRC told Arab News. He said that around 30 Saudis were imprisoned there. The HRC officials have been reportedly assured by Syrian officials that some of them would be returned to the Kingdom to be tried according to the Kingdom's laws. "Part of the HRC's role is to confirm reports it receives of Saudis being imprisoned abroad,".." [more]

IT Ministry to Create Women-Only Work Centers [Jul 18]
"Government departments as well private companies have started setting up more women-only work centers to handle an increasing number of women who are expected to enter the work force. The Ministry of Telecommunications and Information Technology recently embarked on a major project aimed at setting up office space for women workers at the ministry.. ..Nearly 250,000 Saudi women currently work at government departments and 45,000 others at private firms. The number of Saudi women is expected to exceed that of their Saudi male counterparts by 2010 when the Saudi population is estimated to cross 26 million.." [more]

Saudi Women Stage Sit-in Over Detentions [Jul 17]
"Wives of Saudi men detained on suspicion of links to militant groups complained to the authorities yesterday, saying their husbands should be released or face a public trial, families said. 'Our husbands and sons are in prison ... We have sent telegrams and we've gone to the Human Rights Commission but it's useless. So we are staging this sit-in,' Rima Al Juraish said by telephone. She said she was speaking from outside a state security headquarters in Al Qasim region north of Riyadh.. ..Khalid Al Omair, an Islamist reform activist held for six months in 2005, said many detainees were wrongfully arrested and praised the women for trying to draw attention to the issue.." [more]

Sri Lanka Deputy Foreign Minister to Leave for Saudi to Plead Mercy for the Doomed Housemaid [Jul 17]
"Sri Lanka's Deputy Minister of Foreign Affairs Hussein Bahila has scheduled to leave for Saudi Arabia next Friday to plea mercy for young migrant housemaid Rizana Nafeek who is sentenced to death in Jeddah for killing a baby. The parents of Rizana are also to go with the Deputy Foreign Minister with the hope of meeting the family members of the deceased baby who can grant pardon to the doomed housemaid. Their tour was scheduled for the past Monday but was postponed as the Sri Lanka diplomatic mission in Saudi Arabia could not make an appointment with the Saudi family.." [more]

S&P Raises Kingdom's Credit Ratings [Jul 17]
"Standard & Poor's has raised its foreign and local currency long-term sovereign credit ratings on Saudi Arabia to "AA-" from "A+". At the same time, the local and foreign currency short-term ratings were raised to "A-1+" from "A-1". The outlook is stable. Standard & Poor's also raised the transfer and convertibility (T&C) assessment on Saudi Arabia to "AA+" from "AA". "The upgrade primarily reflects Saudi Arabia's extremely strong and rapidly improving external and fiscal positions,".." [more]

Saudi Samba Earnings Slump Continues [Jul 17]
"Samba Financial Group reported its third consecutive decline in quarterly profit, the last of Saudi Arabia's four largest banks to blame declining second-quarter earnings on a slump in brokerage activity. Samba, the second-largest Gulf Arab lender by market value, said profit in the three months to 30 June fell 7.56% to SAR 1.296 billion (US$345.6 million), its lowest level in three years. Analysts forecast for second quarter earnings ranged from SAR 1.21 billion to SAR 1.30 billion, according to a survey. A decline in brokerage activity led to a 9% drop in net income in the six months to 30 June, the bank said.." [more]

Saudi King Abdullah Meets Jumblat [Jul 16]
"Saudi King Abdullah, whose country has been involved in efforts to solve Lebanon's ongoing political crisis, has held talks with Druze leader Walid Jumblat, official media reported. Sunday's meeting in the Red Sea city of Jeddah dealt with "the current situation in Lebanon," SPA news agency said. Jumblat, a prominent lawmaker from the anti-Syrian parliamentary majority and leader of the Progressive Socialist Party, was accompanied by Information Minister Ghazi Aridi, SPA said without providing further details. Jumblat's visit coincided with French-sponsored talks between representatives of rival Lebanese factions.." [more]

16 Saudis Transferred Home from Guantanamo [Jul 16]
" Sixteen Saudis transferred from the U.S. prison in Guantanamo Bay arrived home Monday and were immediately detained by authorities investigating possible terrorist connections, the official Saudi Press Agency reported. A total of 77 Saudis have now been returned from Guantanamo, Maj. Gen. Mansour al-Turki told SPA. He said 53 remain incarcerated at the U.S. military facility in Cuba, a source of tension in U.S. relations with Saudi Arabia, a close ally of Washington. Al-Turki's figures correspond to those maintained independently by The Associated Press. A Pentagon spokesman, Navy Cmdr. Jeffrey Gordon, confirmed Monday that 16 detainees had been transferred from Guantanamo to Saudi Arabia.." [more]

Diplomatic Clash Looms With US over BAE Arms Sale Investigation [Jul 16]
"A potential diplomatic collision with the US is looming over the corruption allegations against the arms company BAE. The department of justice in Washington has formally demanded that Britain hand over all evidence of secret payments the company made to members of the Saudi royal family to secure huge arms deals. The department has taken over the corruption investigation after British prosecutors were forced by the then prime minister, Tony Blair, to halt it late last year on alleged grounds of national security.." [more]

SITA in $16.8mn Saudi Airport Deal [Jul 16]
"SITA has signed an agreement with the Saudi General Authority of Civil Aviation (GACA) to automate passenger and baggage processing at all four of Saudi Arabia's international airports. The air transport IT business solutions provider will implement an IT investment program focused on departure control systems, passenger check-in and baggage management, valued at $16.8 million, over the next five years.. ..SITA will implement the new systems at the international airports of King Abdul-Aziz, Jeddah, King Khaled, Riyadh, King Fahd, Dammam, and Prince Mohamad, Medina.to handle all foreign airlines' departure passengers using these airports.." [more]

Saudi Arabian Garment Company Makes Hefty Investment in China's Cotton Base [Jul 16]
"A leading Saudi Arabian clothing company has launched a 50-million-U.S.-dollar cotton spinning project in Shihezi, northwest China's Xinjiang Uygur Autonomous Region. Ajlan Bin Abdelaziz Alaajlan & Bros, one of the top Arabian garment makers in the world, may realize an annual sales revenue of 650 million yuan after the 160,000-spindle project goes into operation next June, according to Tageldin Saad, Ajlan's CEO in China.." [more]

Profit-taking Hits Saudi Index Ahead of IPO Close [Jul 16]
"Profit-taking hit Saudi Arabia’s bourse benchmark yesterday as investors freed up cash before the close of Kingdom Holding’s IPO on Wednesday.. ..In Saudi Arabia, the index, the region’s worst performing market this year, fell 0.95% to 7,463.78 points. It is down 5.02% to yesterday’s close. 'There have been some good gains in the last 12 days,' said Youssef Kassantini, chief executive at Riyadh-based consultancy Bourse Experts. 'With the Kingdom IPO ending investors are selling so they can buy more shares in it.'.." [more]

Hundreds of Saudis Under Iraq Detention [Jul 16]
"About 160 Saudi militants have been tried in Iraq for taking part in its insurgency while hundreds others are in detention, a top Iraqi official told a local newspaper yesterday. 'Some 160 Saudi nationals arrested in Iraq have been put on trial while hundreds others await their trials,' Iraq’s national security adviser Muwaffaq al-Rubaie told the Okaz newspaper. 'There are hundreds of Saudis in Iraq. Many were killed in suicide attacks,' he said, claiming that foreign militants infiltrate Iraq 'from a neighbouring country,' in an apparent reference to Syria.." [more]

Suspect in Frenchmen’s Murder Captured [Jul 16]
"Naser Al-Balawi, a third suspect wanted by Saudi authorities for alleged involvement in the cold-blooded murder of four French nationals on Feb. 26 north of Madinah, was arrested in the northwestern Al-Jouf region of the Kingdom, the Interior Ministry announced yesterday.. ..Saudi authorities have been searching for Al-Balawi for the last four months. On March 6, the Interior Ministry gave Al-Balawi and another suspect, Abdullah Al-Muhammadi, an ultimatum to turn themselves in and offered a SR7 million reward for information leading to their capture. Al-Muhammadi is still at large and the ministry did not comment on whether a reward was paid to anyone for the arrest of Al-Balawi.." [more]

Saudi Petrochemical Industry: The Heart of Investment [Jul 16]
"In the era of market openness and fierce globalized competition, both multinationals and nations are once again reassessing their core competitive advantage. What is it they are good at and which makes them stand out from the crowd? For the Gulf nations, embarking on massive investment and infrastructure projects, this is an important question to ask, the alternative being lumbered with “white elephant”, uncompetitive and uneconomic projects down the road.. ..For Saudi Arabia, the choices are more open. The domestic market is the largest in the Gulf, and there are a diversified number of local industries that cater to this market, while at the same time upgrading their operations to meet international competition. The key comparative advantage lies in the Saudi petrochemical industry. The upstream oil and gas sector will remain the country’s main source of revenue, based on low cost energy and feedstock.." [more]

Saudis' Role in Iraq Insurgency Outlined [Jul 15]
"Although Bush administration officials have frequently lashed out at Syria and Iran, accusing it of helping insurgents and militias here, the largest number of foreign fighters and suicide bombers in Iraq come from a third neighbor, Saudi Arabia, according to a senior U.S. military officer and Iraqi lawmakers. About 45% of all foreign militants targeting U.S. troops and Iraqi civilians and security forces are from Saudi Arabia.. ..Fighters from Saudi Arabia are thought to have carried out more suicide bombings than those of any other nationality, said the senior U.S. officer, who spoke on condition of anonymity because of the subject's sensitivity. It is apparently the first time a U.S. official has given such a breakdown on the role played by Saudi nationals in Iraq's Sunni Arab insurgency.." [more]

Anti-vice Squad Banned From Detaining Suspects [Jul 15]
"Saudi Arabia has banned its anti-vice squad from detaining suspects after recent deaths in their custody raised questions about the role of the controversial force. Newspapers reported yesterday that Interior Ministry guidelines distributed to state prosecutors include an explicit ban on extracting confessions, and inspections of anti-vice squad offices to ensure no one is being held there. The order - which news agencies said was not meant to be made public - came amid reports that the squad sacked two of its members for questioning an Austrian pilgrim in Madinah after she filed a complaint with a government rights body.." [more]

Lebanese Group Held for Recruiting Saudi Youths [Jul 15]
"Saudi security forces arrested a group of Lebanese nationals recently for involvement in terrorist activities and attempts to recruit Saudi youths in armed terrorist organizations, reported Arabic language daily Al-Hayat on Saturday. The group members entered the Kingdom at different periods to avoid suspicion, Saudi security sources told the newspaper. The sources referred to an important information revealed by Abi Usaid Al-Falouji, who was detained in the Eastern Province two months ago along with two advocates of the deviant thoughts and experts in cyber technology.. ..The Saudi sources, however, did not deny or confirm the detention of Lebanese Al-Qaeda leader Bassam Hamoud alias "Abu Bakr." Hamoud is closely linked to the leaders of Fatah Al-Islam.." [more]

Technology Zones Get a Major Boost [Jul 15]
"An estimated SR400 million has been invested in setting up 800 factories in technology zones under the Saudi Organization for Industrial Estates and Technology Zones (SOIETZ) in Riyadh. Speaking to Arab News, Mohammed Al-Otai, administration manager at SOIETZ, and Mohammed S. Al-Motairi, acting manager at SOIETZ, said that there is a new trend among major Saudi businessmen to establish private industrial estates that would exclusively be reserved for them. 'There is a big demand for such estates,”' Al-Otai said, adding that a separate industrial estate for women is also under consideration.." [more]

Sabic Powers Saudi Index [Jul 15]
"Saudi and Kuwait bourses, the two largest markets in the Arabian Gulf, closed the first day of the week in opposite directions as earnings dictated trading trends. All other Gulf bourses are closed on Saturday for weekend holidays. Riyadh’s Tadawul All Share Index advanced 1.1% to 7535.4, powered by gains in market heavyweight Saudi Basic Industries Corp. Sabic closed up 1.4% at 127 riyals as investors stacked up the share on expectations of strong second-quarter earnings, said analysts.." [more]

Rabigh to Host Refining Station [Jul 15]
"A $40 million contract is to be signed today with the American Refining Company to build the Middle East’s first Caustic Soda Refining Station in Rabigh. The contract is to be signed by Prince Turki ibn Nassir, general-president of the Presidency of Meteorology and Environment, and representatives of the American Refining Company. The station will be built on a 62,500 square meter plot of land and will be finished by the second quarter of 2008.." [more]

Saudis on Top [Jul 15]
"Saudi Arabia shattered Indonesia's Asian Cup dream yesterday with a last-gasp winner and the nightmare got worse for fellow co-hosts Malaysia who were routed 5-0 by Uzbekistan.. .."Credit to us. The win was very important for Saudi Arabia," said Dos Angos, who has been under the cosh at home after his side's opening 1-1 draw with South Korea.." [more]

Kingdom Holding IPO 40% Covered [Jul 15]
"The retail portion of Saudi Arabia's Kingdom Holding's $861 million initial public offering was 40% covered by the end of Saturday, the lead manager said on Sunday. Kingdom Holding, owned by Saudi billionaire Prince Alwaleed bin Talal, is selling 315 million existing shares, or a 5% stake, to Saudi nationals at 10.25 riyals each, valuing the company at $17.2 billion. The IPO, which closes July 18, had raised 635.1 million riyals ($169.4 million) since opening on Tuesday.." [more]

NSHR Public Service Announcements on TV [Jul 15]
"Wanting to reach out for the Saudi public through television, the National Society for Human Rights (NSHR) is planning to launch a series of 40-second public service announcements on TV. NSHR President Bandar Al-Hajjar said the society is currently negotiating with a number of production companies to produce the spots. 'They are to educate people in all subjects of human rights issues. We are planning five or six announcements to be aired daily,'.. ..Other than the quickie 40-second televised messages the society is also preparing a television program devoted to men and women explaining how the NSHR helped them win grievances against government departments.." [more]

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