|
News This Week
~~~~~~~~ [ Sep 1 ] ~~~~~~~~~
Jordan's King Flies to Saudi Arabia for Peace Moving Talks [Sep 1]
"Jordan's King Abdullah II left for Jeddah Saturday for consultations with Saudi leaders ahead of the international
conference on the Middle East proposed by US President George W Bush. The monarch was due to have talks with King
Abdullah on 'latest Middle East developments and the situation in Iraq', according to a royal court statement.. ..'We
hope the conference will represent a big opportunity for finding a solution to the Palestinian question, which is the
core of the Middle East conflict, in accordance with the international legitimacy resolutions and the Arab peace
initiative,' he added.." [more]
Kingdom Wants More Time to Resolve Case of Maltreated Maids
[Sep 1]
"The Kingdom has sought more time from the Indonesian government to resolve the case of four Indonesian housemaids who
were assaulted in Aflaj, a town 320 kilometers south of the Saudi capital Riyadh. Two of the maids died from the
attack when a family member beat them to death, accusing them of witchcraft. Saudi police have since detained seven
male suspects from the family.. ..'The Saudi government will soon settle the case where two maids were fatally
maltreated and two others were subject to severe beatings in Saudi Arabia,' Abdulrahman Mohammed Amen
Al-Khayyaf, Saudi ambassador to Indonesia, said after a meeting with Teguh
Wardoyo, director of Indonesian Citizens and Legal
Entities Protection at the Foreign Ministry in Jakarta on Wednesday.." [more]
Wives of Saudi Militancy Suspects Want Public Trial [Sep 1]
"Wives of Saudi men detained as part of a Saudi crackdown on militants fighting to topple the U.S.-allied monarchy
held a protest on Saturday demanding the men be tried publicly. The protest was the second this summer, after a
similar one in July which led to the brief detention of some of the women.. ..The detainees, who have been held for
periods ranging from two to five years, were removed to Riyadh in June for induction in a "correction" programme run
by clerics that authorities say has led more than 700 suspects to 'repent'.."
[more]
35,000 Low-Income Housing Units Planned [Sep 1]
"Plans have been made to build 35,000 new low-income housing units in different parts of the Kingdom within two years,
according to Ahmed ibn Ibrahim Al-Hakami, deputy minister of economy and planning. He said these housing units —
targeted by the current Eight Five-Year Development Plan — would be built by the Social Affairs Ministry and
charitable organizations. The Kingdom needs more than one million housing units to shelter its poor.. ..The king has
donated five million square meters of land worth SR2 billion located between the Prophet’s Mosque and the Madinah
airport for the foundation’s project in Madinah. The plot is meant as a source of income for the foundation.."
[more]
Saudis Less Trusting of America These Days [Sep 1]
"The Kingdom of Saudi Arabia is increasing its oilfield security forces from 5,000 to 35,000. This dramatic increase
in security, at considerable expense, is a response to changes in the geopolitical landscape brought about by the
events of 2001 and the American-led invasion of Iraq in 2003. Saudi Arabia no longer perceives the United States as
the ultimate guarantor of its security as it did back in the 1990s.. ..The Saudis only have to look north and see the
turmoil in Iraq and the toll it has taken on American public opinion about the presence of American forces in the
region. It is a two-edged sword for Riyadh.." [more]
Increase in Liquidity to Boost Saudi Stocks [Sep 1]
"Arab stock markets continued their strong performance last week as investors seemed to restore confidence in the
regional bourses following the turmoil that swept international stock exchanges two weeks ago, analysts said
yesterday. They attributed the rally partly to the low prices of Arab stocks, the return of Arab funds to regional
markets after the plunge at world bourses and the adamantly soaring prices of crude oil which was expected to ensure
comfortable surplus petrodollars for Arab countries. Saudi shares rallied last week, driven by the banking sector
gains and the Saudi Cabinet’s decision to allow citizens of the Gulf Cooperation Council (GCC) member states to trade
Saudi stocks on equal footing with Saudi citizens.." [more]
~~~~~~~~ [ Aug 31 ] ~~~~~~~~~
King Abdallah to Visit Kingdom [Aug 31]
"King Abdallah of Jordan will arrive in Jeddah tomorrow. King Abdallah will meet Custodian of the Two Holy Mosques
King Abdullah to discuss regional and international issues besides exploring the ways to strengthen mutual relations
between the two countries, Saudi Press Agency reported yesterday.."[more]
Pak Asks Saudi Arabia to Stall Nawaz Sharif's Return [Aug 31]
"The Pakistan government has contacted authorities in Saudi Arabia in a bid to stall former Prime Minister Nawaz
Sharif's return to Pakistan on September 10. The government is confident that the Sharif brothers would not be able to
return to Pakistan if Saudi elders intervene, sources said. An envoy of the Saudi leadership is expected to contact
the Sharif brothers in a day or two to remind them of the understanding pertaining to their exile from the country
till December 2010.. ..Saudi Ambassador to Pakistan Ali Saeed Awadh Assiri who has gone to his native town Anba near
the capital has reportedly been staying in Riyadh for the last two weeks. He is believed to be engaged in constant
consultations with his government with regard to the Sharif brothers' issue.."
[more]
High Demand Will Keep Pressure on Opec Output [Aug 31]
"World oil demand growth is set to remain strong in 2007 at nearly double prior year levels led by US and Chinese
demand, maintaining pressure on members of the Organisation of Petroleum Exporting Countries
(Opec) to boost output, a
Reuters poll showed yesterday. 'Opec crude production would need to increase in the second half of the year from
current levels... The bottom line is that Opec will need to add barrels to the market this winter,' JP Morgan's global
head of energy strategy Katherine Spector wrote in a note.." [more]
2,500 Saudi Camels Might Have Died of Toxic Feed [Aug 31]
"Authorities in Saudi Arabia may have found that insecticide caused the mysterious deaths of some 2,500 camels over
the last three weeks, the Al-Watan daily reported yesterday. Referring to the findings of a state commission, the
paper said an animal feed trader had bought large amounts of bran to sell it on to camel breeders. During the long
storage period, rodents and insects had entered his silo, which the trader sprayed with insecticide. He subsequently
sold the insecticide-contaminated bran to numerous camel breeders.. ..King Abdullah has promised compensation for the
camel breeders. Camel’s milk is one of the bedouins’ staple food.."
[more]
Kingdom’s Industrial Sector Grows 10.1% [Aug 31]
"Saudi Arabia has been witnessing sustained positive growth amid continued high oil prices, coupled with liberalized
economic policies and strategic reforms adopted by the government. Against this backdrop, the Kingdom’s non-oil
manufacturing sector as well achieved substantial growth, approximately 10.1 percent in real terms in 2006, the Saudi
Industrial Development Fund (SIDF) said in its report published recently. The industrial sector’s contribution to the
country’s GDP had increased to 13 percent by the end of last year.." [more]
~~~~~~~~ [ Aug 30 ] ~~~~~~~~~
Sri Lankan Women Hand Over a Petition to Saudi Ambassador [Aug 30]
"A women organization in Sri Lanka submitted a petition with 100,000 signatures to the Saudi Embassy in Colombo asking
for a royal pardon for the teenage Sri Lankan housemaid Rizana Nafeek who is on death row in Saudi Arabia. Following a
massive march to the Embassy by a large number of people the petition was handed over to the Saudi Ambassador Muhammad
Mahmud Al-Ali inside the mission premises by a delegation from the women’s organization
'Lakmawa Diyaniyo. After
accepting the petition, the Saudi Ambassador told the marchers that it will be sent to the concerned authorities
through the Foreign Ministry in Riyadh.." [more]
Saudi Sets Up State Medical Supplier [Aug 30]
"Saudi Arabia is to establish a national company that will be the sole supplier of medicines and medical appliances to
government health institutions. The National Company for Unified Purchase of Medicines and Medical Appliances will
have a capital of 2 million riyals ($533.1 million), and the government plans to sell 30% of its shares in an initial
public offering (IPO) later this year.. ..leading medical companies that dominate the Saudi market would not be
invited to become founding members the new firm.. ..About 10 companies control around 50% of the kingdom’s medical
supplies market, which is estimated to be worth more than 5 billion riyals.."
[more]
Policing Religion [Aug 30]
"Saudi Arabia's draconian religious police, part of the country's previously untouchable religious elite, have come
under an unprecedented barrage of criticism in recent months. Known as the
mutawwa'in, these foot soldiers of the
Committee for the Protection of Virtue and Prevention of Vice are tasked with meting out punishment to those they
believe transgress their strict interpretation of Islam.. ..But a series of recent reports exposing mutawwa'in abuse
is slowly beginning to erode the committee's edifice of impervious power.."
[more]
Saudi's Money Supply Grows 22pc to $194bn [Aug 30]
"Money supply in Saudi Arabia grew at its fastest pace in almost three years in July on corporate lending, signalling
inflation in the country could accelerate from last month's seven-year high. M3, the broadest measure of money
circulating in the economy, rose 21.5 per cent to 725.71 billion riyals ($193.5bn) on July 31, compared to the same
period last year, Saudi Arabian Monetary Agency figures showed. That was the fastest annual increase since November
2004, based on International Monetary Fund data. Money supply grew 18.4pc in June. Saudi inflation hit a seven-year
high of 3.83pc in July as rents rose at their fastest pace since at least 2004.."
[more]
Saudi Kayan Petrochemical Company Debt [Aug 30]
"On 24 August, Middle East Economic Digest (MEED) magazine published an article titled, 'SABIC Delays Al-Kayan Debt'.
Saudi Basic Industries Corporation (SABIC), would like to confirm that there will be no delay, contrary to what was
reported in the article. All loan arrangements are well underway and as scheduled. The statements contained within the
article are untrue and should be ignored.." [more]
Ramada Announces Saudi Expansion [Aug 30]
"..Ramada Worldwide, through its Master Licensee and operator in Saudi Arabia, Riyada International Hotels & Resorts
(RIHR) is set to increase rapidly its portfolio of properties. Its expansion plans to include hotels in Al
Khobar,
which is expected to open in 2008, and two properties in Makkah, which will also open in 2008. 'The company looks well
on track to achieve this, and by the end of 2008 its portfolio will comprise a total of 12 hotels and more than 6000
rooms,' Mohammed Hassan Al Amir, managing director of RIHR, was quoted by a media report as saying. This August, it is
opening the Ramada Madinah Al Qibla Hotel and the Al Hambra Hotel.." [more]
Pre-Marriage HIV Tests [Aug 30]
"Couples wanting to marry in Saudi Arabia will have to undergo tests for the HIV virus, which can cause Aids, starting
next year, a newspaper reported yesterday. From 2008, future brides and grooms will have to be tested for both the
virus and hepatitis in one of more than 20 centres to be set up across the kingdom,
Al-Watan said, quoting the health
ministry’s assistant undersecretary for preventive medicine, Khaled
al-Zahrani. If either of them tests HIV positive
and they still want to marry, the case will be examined in conjunction with the justice ministry.."
[more]
Saudi Shares Rally to 5-Month High [Aug 30]
"Saudi’s main index surged to a five-month high yesterday as investors bought bank and insurance shares, anticipating
they will rise when the kingdom lifts restrictions on capital from its Gulf Arab
neighbours. Most other Gulf markets
closed lower. Saudi Arabia’s index rose 0.79% to 8,226.97 points, its strongest finish since March 25. Banks rallied
for a second day on news the regulator was preparing to remove restrictions on Gulf Arab investment in financial
services stocks. Saudi Hollandi Bank surged 9.91%, having underperformed the index by 18% this year.."
[more]
~~~~~~~~ [ Aug 29 ] ~~~~~~~~~
GCC, EU to Sign FTA Deal Soon [Aug 29]
"The six-member Gulf Cooperation Council (GCC) is expected to sign the long-awaited free-trade agreement
(FTA) with
the European Union within the next two months.. ..The GCC — Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United
Arab Emirates — has been holding FTA talks for the last 18 years. It has already fulfilled 95 percent of the
conditions for the prestigious agreement. The last joint meeting of GCC and EU foreign and finance ministers was
successful in settling most outstanding issues. GCC central bank governors are scheduled to meet with their EU
counterparts next month to discuss monetary policies. Economic observers have insisted that GCC countries must
intensify coordination to finalize the agreement as quickly as possible.."
[more]
China's Huawei Deploys WiMAX Commercial Network for Saudi Telecom [Aug 29]
"China's Huawei Technologies Co Ltd, a provider of next generation telecommunications network solutions, said in a
statement that Saudi Telecom has chosen it to deploy a WiMAX 802.16e-based network. Under the agreement, Huawei will
design and deploy the network as well as an authorization, authentication and accounting system for Saudi Telecom, the
largest service provider in Saudi Arabia.. ..Financial details of the contract were not provided.."
[more]
Saudi Women Studying Law Wish to Practice It Once They Graduate [Aug
29]
"Saudi women studying law at King Abdul Aziz University (KAAU) are pushing to practice in an all-male domain on
graduation next year. Twenty-four women attended this summer a six-week training course in law, which included mock
trials of real life cases. The course — the first of its kind — was hosted by the National Society for Human Rights
(NSHR).. ..'It is our right to practice law and we are needed here,' stressed Hanouf
Al-Hazaa, 23. Al-Hazaa is one of
five students who conducted a study after attending the course. The study is aimed at explaining the social,
religious, economical and educational reasons that would allow them to practice law.."
[more]
Saudi Inflation Climbs to Seven-Year High [Aug 29]
"Saudi inflation hit a seven-year high of 3.83 per cent in July as rents rose at their fastest pace since at least
2004, and a currency pegged to the weak dollar helped drive up the cost of food imports. Inflation is accelerating
across the Gulf region as governments invest more of their windfall oil revenue in tourism projects and
infrastructure.. ..The Saudi cost of living index rose to 105.6 at the end of July, from 101.7 a year earlier, data
from the Central Department of Statistics showed yesterday. It was biggest increase since 2000 for the index, based on
1999 prices.." [more]
First Saudi Female Photographer to Join Reuters [Aug 29]
"Joining the ranks of photographers affiliated to a prestigious establishment such as ‘Reuters’ was the payoff after a
long journey that spanned over 25 years in which Saudi photographer, Susan
Baaqil, seldom put down her camera.. ..She
is proud to be the first Saudi female photographer to have had the privilege of photographing the Custodian of the Two
Holy Mosques, King Abdullah Bin Abdulaziz al Saud. Additionally, she was the only woman among the press photographers
attending the Islamic Summit Conference recently held in Riyadh. Her portfolio includes images of kings and heads of
Islamic states.." [more]
Saudi Sends Frozen Camel Samples to France [Aug 29]
"Saudi Arabia has sent frozen samples of dead camels to France to try to discover why dozens are dying each day, along
with cattle and sheep, newspapers said on Wednesday. Al-Watan newspaper said 60 more camels died on Tuesday as well as
400 sheep and seven cows. There was no official confirmation of the figures. The camel samples were sent on Tuesday as
Saudi officials came under increasing criticism by owners of herds for not acting more quickly to try to determine
ways to tackle the problem.. ..Just before the camels began to die, newspapers had reported an outbreak of foot and
mouth disease -- aphthous fever, which can also affect camels -- in the kingdom..."
[more]
Saudi Banks, Insurers Rally on Hopes of Gulf Cash Flow [Aug 29]
"Saudi stocks ended higher yesterday as local investors piled into banks and insurance stocks on hopes plans to remove
constraints on investors from other Gulf nations would bring more cash into the bourse. Saudi Arabia’s main index
climbed 0.58% to 8,162.82 points. The top 14 gainers were banking and insurance stocks. 'The banking and insurance
sectors are moving higher after the decision allowing Gulf nationals to buy into the market,' said Youssef
Kassantini, chief executive officer at Bourse Experts. 'We have now crossed the 8,155 points resistance level.'.."
[more]
Saudi Engineering Society to Hold 3rd International Meet [Aug 29]
"The Saudi Engineering Society is organizing its third international conference on engineering arbitration in Alkhobar
on Oct. 20. The conference, aimed at evolving a unified Arab arbitration system, will be inaugurated by Crown Prince
Sultan, deputy premier and minister of defense and aviation, Abdul Rahman
Al-Rabia, chairman of the society’s board of
directors and chairman of the organizing committee for the conference, told Arab News yesterday. Delegates and experts
of engineering arbitration in the region and other foreign countries will participate in the conference.."
[more]
Crude Oil Edges Upward [Aug 29]
"Oil prices rose Wednesday in anticipation of a report showing further declines in U.S. crude and gasoline supplies.
Comments from OPEC that no output increases were needed also supported prices. Light, sweet crude for October delivery
rose 39 cents to $71.12 a barrel by afternoon in European electronic trading on the New York Mercantile Exchange. In
London, October Brent crude rose 41 cents to $70.96 a barrel on the ICE futures exchange.. ..Oil prices alternated
between gains and losses Tuesday after Abdalla Salem el-Badri, secretary general of the Organization of Petroleum
Exporting Countries, told Dow Jones the oil market is well supplied.." [more]
~~~~~~~~ [ Aug 28 ] ~~~~~~~~~
Saudi Government Bans Leading Arab Paper [Aug 28]
"Saudi Arabia's government has banned the influential Arab newspaper Al Hayat from distribution in the kingdom, just
days after it published an article that a Saudi man had served as a key figure for an
al-Qaida front group in Iraq,
journalists and diplomats said Tuesday. One of the country's most influential journalists immediately criticized the
move, calling it a sharp retreat from growing press freedoms in Saudi Arabia.. ..One of Saudi Arabia's most
influential journalists, Dawood al-Shirian, who is a former regional director at Al Hayat and still writes a weekly
column, said he believed the ban had happened for a different reason.
Al-Shirian, who now is deputy head of Al-Arabiya
TV, said Al Hayat staff had told him the kingdom's Information Minister had asked the newspaper to stop some writers from writing for the paper. But the paper had refused to comply with the request from Information Minister Iyad
Madani.Madani previously had been considered something of a reformer.."
[more]
Huge Saudi Force to Defend Oilfields from al-Qaida [Aug 28]
"Anxieties about al-Qaida attacks and a US-led war against Iran have prompted Saudi Arabia to establish a special
force - being trained by an American defence contractor - to protect its oilfields. Saudi authorities have already
recruited 5,000 members of the Facilities Security Force and plan to raise the number to 8,000-10,000 over the next
two years, in a project being run by the Lockheed Martin Corporation.. ..Nervousness has been growing recently about
the impact of attacks by al-Qaida-related groups and possible retaliation by Iran in the event of US or Israeli
strikes on its nuclear installations.." [more]
Officials Denounce Threats Against Saudi Ambassador [Aug 28]
"Lebanese officials and religious figures denounced on Monday threats of attack addressed to Saudi Arabian ambassador
to Lebanon, Abdel-Aziz Khoja. Former Prime Minister Najib Mikati made a telephone call to the Saudi ambassador and
expressed his sympathy with him on the threats of attack he had received. Mikati said that it was shameful and
denounced that the ambassador be target of threats in Lebanon.." [more]
Saudi to Ease Restrictions on Gulf Investors [Aug 28]
"Saudi Arabia's cabinet ordered the bourse regulator yesterday to remove constraints on investors from five other Gulf
oil producers. A cabinet statement said the move was in line with the resolutions of a 2002 summit of the GCC.. ..The
GCC summit held in Qatar in December, 2002 sanctioned that all nationals of the bloc receive equal treatment in all
economic activities and set this year as a deadline for the implementation of the resolution. The Saudis have been
dragging their feet on agreements to open up their stock market as part of plans for economic integration in the
world's biggest oil exporting region.." [more]
Saudi Inflation Rate Rises to 19 Month High [Aug 28]
"Saudi Arabia's annual inflation in July rose to its highest level since December 2005 as housing and food costs
increased. The kingdom's inflation rate rose to 3.8% in July from 3.1% in June, the central department of statistics
said today.. ..Inflation has picked up across all Arabian Gulf states as record oil prices have fueled state and
private spending, creating shortages in housing, infrastructure and services. The weakness of the dollar to which the
Saudi riyal is pegged, has made imported goods from Europe more expensive.."
[more]
Turmoil May Cause World War [Aug 28]
"Upheaval in the Middle East and Islamic civilisation could cause another world war, the US ambassador to the UN was
quoted as saying in an Austrian newspaper interview published yesterday. Zalmay Khalilzad told the daily Die Presse
the Middle East was now so disordered that it had the potential to inflame the world as Europe did during the first
half of the 20th century. 'The (Middle East) is going through a very difficult transformation phase. That has
strengthened extremism and creates a breeding ground for terrorism,'.. .. 'It may take decades before some understand
that they can remain Muslims and simultaneously join the modern world.'.."
[more]
Cabinet Push for Saudia’s Privatization [Aug 28]
"The much-talked about privatization of Saudi Arabian Airlines received a shot in the arm yesterday when the Council
of Ministers gave the national carrier the green light to convert its strategic units into companies.. ..The statement
said Saudia would be licensed to establish companies wholly owned by the organization in preparation to privatize them
with the participation of private investors. Employees of the new companies will get the same salaries and benefits
they were receiving before. The decision taken at the Cabinet meeting, chaired by Custodian of the Two Holy Mosques
King Abdullah, is expected to speed up privatization of the airline, the largest in the Middle East with a fleet of
120 passenger and cargo planes.." [more]
Specialist Help Offered to Set Up Drug Rehab Program [Aug 28]
"An American expert on the rehabilitation of drug addicts has offered his services in setting up a rehab program in
the Kingdom and other Gulf states, where cases of relapse have been found even after drug abusers have been treated
for addiction and discharged. Simak Afshar, founder of the New Life Center, made the offer on the Saudi TV’s Second
Channel during an interview with Dr. Parisa Saed Alhashim, a clinical psychology doctor from the US.. ..a survey
conducted in Taif two years ago found that one-third of 400 high school students (both boys and girls) were suffering
from anxiety and severe depression. Such a frame of mind, she said, predisposes the victim to drug abuse to cope with
the problem, which then degenerates into chronic addiction.." [more]
CMA Grants License to Saudi Hollandi Capital [Aug 28]
"Saudi Hollandi Bank announced yesterday that the Capital Market Authority (CMA) has officially licensed its
affiliate, the Saudi Hollandi Capital Company (SHCC), which will begin operations in the capital market’s securities
sector as a principal and agent.. ..The grant of license by the CMA to the Saudi Hollandi Capital Company follows its
decision to issue a number of licenses to companies that specialize in providing financial services in the Saudi
market. The Saudi capital market has continued to attract interest from the both national and international financial
institutions so as to make the Kingdom’s bourse the most important one in the region.."
[more]
~~~~~~~~ [ Aug 27 ] ~~~~~~~~~
Humanitarian Aid General Commissioner Lauds the Saudi Monarch's [Aug 27]
"Humanitarian Aid General Commissioner, Hassabo Mohamed Abdul- Rahman has lauded the royal decree issued by the
Custodian of the Two Holly Mosques, King Abdullah of Saudi Arabia extending the work of Saudi Red Crescent in
Darfur.. ..Abdul- Rahman expressed satisfaction with the support being extended by the Kingdom to Sudan especially to the
floods and rains affected people. He reviewed the effects resulting from the floods and rains including the
deterioration of food and health situations, referring to the humanitarian aid delivered by the government and its
priorities in the fields of shelter, food, health and environment.." [more]
Limitless Launches Recruitment Drive in Saudi Arabia [Aug 27]
"Limitless, the Dubai-based global master developer, has embarked on an aggressive recruitment campaign in the Kingdom
of Saudi Arabia, where it is planning a series of distinctive, large-scale, mixed-use projects. The move follows the
company's recent confirmation that it will soon open an office near Riyadh, and is currently assessing major projects
there. Limitless is also looking at potential developments in the Eastern and Western provinces.."
[more]
Commercial Banks’ Foreign Assets Increase 8.4% in Q2 [Aug 27]
"Total foreign assets of commercial banks in Saudi Arabia rose by 8.4 percent to SR154.5 billion ($41.2 billion)
during the second quarter of this year, the Saudi Arabian Monetary Agency (SAMA) said. The SAMA report, which
highlighted major economic developments in the Kingdom during the first half, also pointed out that market
capitalization of shares on the Saudi bourse went down by 6.8 percent to SR1,113 billion ($296.8 billion).. ..The SAMA
said broad money (M3) rose by 4.6 percent to SR709.3 billion, compared to an increase of 2.6 percent during the first
quarter of this year.." [more]
Al-Manie Launches Anti-Measles Drive [Aug 27]
"Health Minister Dr. Hamad Al-Manie kick-started a nationwide campaign against measles on Saturday from his ministry
headquarters here. To mark the event, the minister personally vaccinated schoolchildren and told them that their
friends should follow suit to keep the nation free from measles. Respective governors from various regions launched
similar programs throughout the Kingdom. 'Nine million vaccines targeting 6.5 million people have been made available
from today in all the government and private health care centers for children and adults between the ages of nine
months and 18 years,'.. ..the vaccines would be administered free-of-charge to nationals as well as expatriates.."
[more]
Alwaleed Holds Talks With Panama’s Leader [Aug 27]
"Saudi Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), and his wife visited Panama City, capital
of the Republic of Panama, recently as part of his official visit to the region. In a press statement sent to Arab
News yesterday, KHC said Alwaleed and his delegation held talks with President Martin Torrijos Espino and discussed
bilateral relations between the two countries and investment opportunities in Panama.. ..Panama’s economy is
service-oriented, heavily weighted toward banking, commerce, tourism, trading and industry due to its key geographic
location.." [more]
~~~~~~~~ [ Aug 26 ] ~~~~~~~~~
Kingdom’s Ambassador Quits Beirut [Aug 26]
"Saudi Ambassador to Lebanon Abdul Aziz Khoja has left the country because of threats made against him. An Arab
diplomat confirmed the news of Khoja’s departure but refused to elaborate. According to reports, Ambassador Khoja left
Beirut on Aug. 17 after the Saudi Embassy had formally notified the Lebanese Foreign Ministry of a 'threat of attack
against the ambassador’s residence, his person, the embassy or other Saudi interests in Lebanon.' The Saudi Embassy
declined to comment but Khoja told Asharq Al-Awsat daily, a sister publication of Arab News, 'There were threats
against the Saudi Embassy and against my person. But, the threats will not deter friendly countries such as Saudi Arabia and they will continue to exert efforts to restore security and stability in Lebanon and in the Arab world.'.."
[more]
Qayyum Leaves for Saudi Arabia Amid Rumours [Aug 26]
"Attorney General Malik Mohammad Qayyum left for Saudi Arabia on Saturday evening to perform Umra — his second in a
few weeks — amid speculation that he was carrying a message for the Saudi government. However, he told reporters
before departure that he had no message for the Saudi authorities. “Honestly, I am not carrying any message.” He said
he was going to Saudi Arabia with his family to thank God for affording him the opportunity to work as the chief law
officer of the government. Malik Qayyum is going to perform Umra on a day when President Gen Pervez Musharraf was
quoted as having said that he would talk tell the Saudi government that former prime minister Nawaz Sharif was morally
obliged to stay out of the country for 10 years.." [more]
Saudi Telecom to Bid for Third Kuwait Mobile Operator [Aug 26]
"Saudi Telecom (STC) announced Saturday it will bid to acquire 26 percent of Kuwait's third mobile company, which is
expected to start operations early next year. The Saudi company, which enjoys a monopoly over landline services in the
kingdom in addition to its vast mobile phone market, will present its bid before the Sept 7 deadline, SPA state news
agency reported. 'This is a chance to continue Saudi Telecom's policy of pressing with foreign expansions and to
enhance the possibilities for operational consolidations in the Gulf region,'.."
[more]
Minister Song Seeks Saudi Arabia's Support Over Hostages [Aug 26]
"Foreign Minister Song Min-soon requested Saudi Arabia Saturday to help win the release 19 South Korean hostages in
Afghanistan amid reports that the Taliban were ready to release them.. ..Song, on a visit to Saudi Arabia, paid a
courtesy call on King Abdullah bin Abdul Aziz Al Saud in Jedda and delivered him a letter from President Roh
Moo-hyun, thanking him for his efforts to resolve the hostage crisis, a Foreign Ministry spokesman said. The official quoted
Abdullah as telling Song that he will continue to cooperate with Afghan President Hamid Karzai and other Islamic
leaders for the release of the Koreans.." [more]
Open Market Heralds Huge Growth Potential [Aug 26]
"Saudi Arabia’s newly liberalised insurance market is poised for major growth with estimates that a market currently
worth around US$1.5 billion annually could soar to US$8 billion within 10 years, according to industry experts. Growth
is already happening in one of the major insurance sectors – health cover – due to a combination of new labour laws
and the opening of the kingdom’s insurance sector to regional and international competition.. ..Observers point out
that with the kingdom’s population growing at 3.2% annually, growth in the health insurance market is also helping to
spur development in the health care and pharmaceutical sectors. A report by the Gulf Organization for Industry
Consulting noted that health insurance products, and the entry of the private sector, had provided a fillip to the
setting up of new hospitals and polyclinics as well as existing facilities.."
[more]
Indian Warships Visit Saudi to Further Boost Ties [Aug 26]
" five-day goodwill visit of two Indian warships to the Jubail Port in Saudi Arabia, which attracted a lot of
visitors, is expected to further boost the relations between the two countries. INS Rajput and INS Betwas concluded
their goodwill visit yesterday with a series of joint naval exercises. Over 2,500 Indian students and expatriates from
Riyadh, Dammam and Jubail visited the warships docked at the Jubail Commercial Port.. ..The Indian Navy crew also
visited the Royal Saudi Naval base at al-Jubail and interacted with the naval personnel.."
[more]
Yemeni-Saudi Economic Zone to be Established [Aug 26]
"Yemen and Saudi Arabia are preparing to establish a joint economic zone at an estimated cost of $500 million in the
border area of al-Wadia, said Abdullah bin Mahfoud, Chairman of the Yemeni-Saudi Business Council. He said that this
project is awaiting approval from the Yemeni-Saudi Coordination Council at its next session, which is to be held
towards the end of the current year. The Yemeni government has already approved the project and submitted a complete
study of it to the Saudi Ministry of Trade and Industry, who will forward it to the
YSCC.." [more]
Saudi Arabia Win Gold Medal at GCC Youth Basketball Tournament [Aug 26]
"Saudi Arabia clinched the GCC youth basketball title after defeating hosts UAE 67-59 in the last match held Friday
night at Sharjah club indoor sports hall.Despite the defeat, the UAE qualified for the Asian Youth finals along with
Saudi Arabia, which will be held next year. The host country is yet to be decided by the Asian Basketball
Confederation.." [more]
Kingdom IPOs Worth $7.46bn in 2006: CMA [Aug 26]
"Saudi Arabia’s Capital Market Authority (CMA) reported yesterday that the total value of the 62 initial public
offerings (IPOs) made in 2006 amounted to SR28 billion ($7.46 billion). Dr. Abdul Rahman
Al-Tuwaijeri, CMA’s chairman,
said in its first annual report that the number of IPOs recorded last year was the largest since its inception in
2004. He said the CMA approved only 40 IPOs drawing SR12 billion ($3.2 billion) from the middle of 2004 till the end
of 2005.." [more]
Click
here to read the "News-This Week." |
