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Newsletter #230

September 9-15, 2007

 

In This Issue

 

 

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  • What's New on SUSRIS - 

  • >>>>Ramadan  Begins

  • In the News this Week:

  • >>>>Saudi might shun Mideast peace conference

  • >>>>Saudi Arabia's New Industrial Revolution

  • >>>>2007 International Religious Freedom Report Released

  • >>>>Saudi Plans to Build Aerospace Industry

  • Keeping Track - Recent SUSRIS Items

  • This Week's News - September 9-15, 2007

  • About SUSRIS

Click here for more information on Riyad Bank.

 
   
   

What's New on SUSRIS This Week


Click for complete item (HTML)Click here to read about the start of the holy month of Ramadan.Ramadan Begins

"The holy month of Ramadan is a special month. For over one billion Muslims worldwide, it is a time of inner reflection and devotion to God. It is the month of fasting.  Ramadan is the ninth month of the Islamic calendar. The start of the month is based on a combination of physical sightings of the moon and astronomical calculations. The Islamic calendar itself is a lunar calendar, and months begin when the first crescent of a new moon is sighted. This year, Ramadan officially begins on September 13, 2007 in Saudi Arabia, according to the Supreme Judiciary Council..  [more]

 

In the News This Week

Click for complete item (HTML)Saudi might shun Mideast peace conference

Saudi Arabia's foreign minister said on Wednesday it is doubtful the kingdom will attend the Middle East peace conference called by the United States if it does not tackle core issues of the conflict. "The kingdom does not see any use from any meeting or conference... if it is not comprehensive and if it does not tackle major issues," Prince Saud al-Faisal told a news conference in the Red Sea city of Jeddah. "If these matters are not addressed by the meeting, I doubt the kingdom will participate," he said.   [more]


Click for complete item (HTML)Saudi Arabia's New Industrial Revolution

"Saudi Arabia is experiencing an industrial renaissance that points to huge manufacturing and engineering opportunities in all areas over coming years. Current estimates indicate that the value of industrial projects to be awarded in the oil and gas sector in the coming four years is expected to reach US$53bn, the petrochemical sector US$50bn, the electricity and energy industry around US$18bn, and the water and the desalination sector at upwards of US$4bn.. ..On the back of this countrywide industrial expansion, the Kingdom's Mohammad Al Mojil Group (MMG) recently announced revenues totaling US$235.3m for the six-month period ending June 30 2007. These mark a staggering growth rate of 206%.." [more]


Click for complete item (HTML)2007 International Religious Freedom Report Released

Secretary Rice (Sept. 14): "With this year's Report on International Religious Freedom, the State Department is helping to advance President Bush's vision of a world that is growing in freedom and peace. Through our bilateral relationships, our work in international forums, and our many ongoing discussions on this issue with people across the globe, the United States will continue working to promote religious freedom, to nurture tolerance and to build a more peaceful world for people of all faiths."  [more]


Click for complete item (HTML)Saudi Plans to Build Aerospace Industry

"A major Saudi order for British military aircraft looks set to be confirmed during or near the time of King 
Abdullah's state visit to the UK in October. Diplomats say that both countries are committed to concluding the defence agreement which is expected to be the most ambitious and complex yet reached by the kingdom with the UK, or any other supplier of military equipment.. ..A unique element in the new contract will involve at least half the aircraft being built in the kingdom at a purpose built aerospace industrial site that could ultimately provide employment for thousands more Saudis. The nucleus of an aerospace industry does already exist in the kingdom.." [more]

[More news below..]

 

 

   
 

Keeping Track - Recently on SUSRIS 

Click here to read Brad Bourland's report on maintaining the Saudi Riyal - US Dollar peg. Click here to read Brad Bourland's report on the Saudi economy. Click here to read Anthony Cordesman's op-ed on arms sales to Saudi Arabia. Click here to read the SUSRIS Exclusive interview with Thomas Lippman.
Click here to read the SUSRIS Exclusive interview with Afshin Molavi. Click here to read Michael Saba's essay on the legacy of FDR. Click here to read Dr. John Duke Anthony's NPR interview on the subject of arms sales to the Middle East. Secretaries Rice and Gates meet with King Abdullah
Secretary Rice, Foreign Minister Saud al Faisal and Defense Secretary Gates meet the press in Jeddah.  Secretary of State Rice and Defense Secretary Gates travel to the Middle East. Undersecretary Burns briefing on military sales and assistance to the Middle East. Middle East Policy Council -Capitol Hill series - The Future of the Middle East
US military assistance and aid package announced. Click here to visit the SUSRIS real-time Middle East news feeds. Click here for the SUSRIS Factbook special section on the new "Economic Cities" in Saudi Arabia. Click here to read about efforts to boost the number of women in the Saudi workforce, especially in the government.  (SUSRIS / IOI / May 29, 2007)
Click here to read Ambassador Chas Freeman's remarks about US leadership in the world.  (SUSRIS / IOI / May 31, 2007) Click here to read Faiza Saleh Ambah's article about how Saudi women are reinventing the abaya.  (SUSRIS / IOI / May 30, 2007) Click here to read about the importance of the $11B sale of GE Plastics to Sabic.  (SUSRIS / IOI / May 22, 2007) Click here to read about the US Government's annual energy outlook report.  (SUSRIS / IOI / May 10, 2007)
Click here to read Abdulaziz Sager's essay on the significance of the recent Saudi brokered agreement between Chad and Sudan.  (SUSRIS / IOI / May 18, 2007) Click here to read Thomas Lippman's essay "New Regional Leadership."  (SUSRIS / IOI / May 10, 2007) Click here for information on Vice President Cheney's visit to Saudi Arabia. (SUSRIS / Special Report / May 14, 2007) Click here to read Robin Wright's report about the visit of VP Dick Cheney to Saudi Arabia.  (SUSRIS / IOI / May 11, 2007)
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News This Week - September 9-15, 2007

Do you get it?

~~~~~~~~ [ Sep 15 ] ~~~~~~~~~

US Reports on Religious Freedom [Sep 15]
"..The annual State Department report on religious freedom said violence in Iraq was not suffered by just Shia and Sunni Muslims, but all religions and sects.. ..Religious freedom in Saudi Arabia was still severely restricted, but the government had tried to foster greater tolerance by public discussions and announcements, the report said.." [more]

Saudi Plans to Build Aerospace Industry [Sep 15]
"A major Saudi order for British military aircraft looks set to be confirmed during or near the time of King 
Abdullah's state visit to the UK in October. Diplomats say that both countries are committed to concluding the defence agreement which is expected to be the most ambitious and complex yet reached by the kingdom with the UK, or any other supplier of military equipment.. ..A unique element in the new contract will involve at least half the aircraft being built in the kingdom at a purpose built aerospace industrial site that could ultimately provide employment for thousands more Saudis. The nucleus of an aerospace industry does already exist in the kingdom.." [more]

Samsung Engineering Eyes $1b Saudi Orders [Sep 15]
"South Korea's Samsung Engineering Co. expects more than $1 billion in plant orders from Saudi Arabia in the last quarter of this year, a company executive said. 'We expect to receive two separate orders valued at more than $1 billion in Saudi Arabia in the fourth quarter to build a petrochemical plant and a refinery,' Hong Sung-Il, head of Samsung Engineering's investor relations team, said on Thursday. He didn't give further details because the deals are not finalised yet.." [more]

Saudis Start Campaign to Curb Beggars [Sep 15]
"Saudi Arabia has launched a campaign to combat the lucrative business of begging that tends to flourish during the holy month of Ramadan, the daily Okaz reported yesterday. The newspaper said the campaign would include targeting beggars who congregated outside mosques, shopping centres and other public places. Statistics would be compiled on numbers and nationalities of the beggars as well as the tricks they used to generate pity — and avoid the unwanted attentions of the police.. ..Begging becomes more prevalent during Ramadan and at Eid al-Fitr, the feast that marks the end of fasting during the holy month.." [more]

Investors to Monitor Third Quarter Results [Sep 15]
"Saudi shares were volatile last week following previous week’s plunge of 4.54 percent, as the telecommunications sector put pressure on the market with widespread expectations that the third mobile operator, MTC, could stir fierce competition in the country. The Tadawul All-Share Index (TASI) shed 0.58 percent last week.. ..The Riyadh-based Bakheet Investment Group (BIG) said in its weekly report that Saudi stocks would be steady in the coming days as investors monitored the third quarter results, particularly of blue chip firms, which usually decide the market’s direction.." [more]

~~~~~~~~ [ Sep 14 ] ~~~~~~~~~

Syria-Saudi Spat Looms Over Talks [Sep 14]
"Saudi Arabia is showing increasing signs of displeasure as Palestinian-Israeli preparatory discussions on a US-hosted multinational peace conference in November meander on without apparent achievements. According to Agence France Presse (AFP) Saudi Foreign Minister Saud Al-Faisal warned Wednesday, 'If this conference does not tackle the key issues such as Jerusalem, the borders, the Palestinians and other issues that were clearly stated in the Arab peace initiative, then the conference will be pointless.' With time running out for the establishment of a firm basis for the conference, a deepening crisis in relations between Syria and the Saudis is throwing a pall over the upcoming discussions and Lebanese presidential vote.." [more]

Sweden Did Not Apologize on Behalf of Paper: Envoy [Sep 14]
"Sweden yesterday denied that its ambassador to Saudi Arabia apologized to the Organization of the Islamic Conference (OIC) for the publication of a caricature of Prophet Muhammad (peace be upon him) in a Swedish newspaper. According to a statement released to the media on Wednesday by the Jeddah-based organization, it was stated that the Swedish ambassador to Saudi Arabia, Jan Thesleff, met OIC Secretary-General Ekmeleddin Ihsanoglu on Tuesday in Jeddah and 'offered his deepest apologies for the controversy created by the publishing of the hurtful depiction.' The Swedish Foreign Ministry, however, immediately denied that the ambassador had made any apology, saying he had only expressed regret.."  [more]

Sri Lanka Minister to Leave for Saudi Arabia to Seek Pardon for the Housemaid [Sep 14]
"Minister of Foreign Employment Promotion and Welfare Keheliya Rambukwella is to leave for Saudi Arabia soon to seek ways to obtain a pardon for the Sri Lankan housemaid who is facing a death sentence in the kingdom for murder charges.. ..The attempt by the Deputy Minister Hussein Bahila who visited Saudi Arabia last month to seek pardon for the woman failed.." [more]

Saudi Arabia's New Industrial Revolution [Sep 14]
"Saudi Arabia is experiencing an industrial renaissance that points to huge manufacturing and engineering opportunities in all areas over coming years. Current estimates indicate that the value of industrial projects to be awarded in the oil and gas sector in the coming four years is expected to reach US$53bn, the petrochemical sector US$50bn, the electricity and energy industry around US$18bn, and the water and the desalination sector at upwards of US$4bn.. ..On the back of this countrywide industrial expansion, the Kingdom's Mohammad Al Mojil Group (MMG) recently announced revenues totaling US$235.3m for the six-month period ending June 30 2007. These mark a staggering growth rate of 206%.." [more]

Saudi King Urged to Free Jailed Reformists [Sep 14]
"Saudi activists yesterday sent a petition to King Abdullah, urging the release of nine advocates of an Islam-based constitutional monarchy held for more than seven months without trial. The petition, timed to coincide with the start of the holy month of Ramadan, was endorsed by 135 reformists including 49 women.. ..The petition comes amid an apparent crackdown on reformists in Saudi Arabia, even though the activists seek changes in keeping with the Islamic tenets underpinning the political system of the Gulf oil powerhouse.." [more]

New Fuels Pose Risk to Future Oil Demand: Opec [Sep 14]
"Opec sees efforts by consumer nations to promote alternative fuels as posing risks of a fall in world oil demand in the long term, an official of the exporter group said yesterday. Mohamed Hamel, head of the energy studies department at Opec’s Vienna headquarters, also said strain on the world’s oil refineries — a factor in driving prices to record highs above $80 a barrel — would persist for at least the next three years. The comments on demand underscore concern at Opec, source of more than a third of the world’s oil, about uncertainty over fuel use in the industrialised world that may hinder investment in future supply.." [more]

Saudi Women Marrying Foreigners on Rise [Sep 14]
"Saudi Arabia has seen many rapid changes in the past decades. One that is becoming more obvious is that of Saudi women who are increasingly opting to marry foreigners. Recent statistics issued by the Interior Ministry showed that 20,000 marriages have been registered between Saudi women and foreign men in the past five years. Saudi women are prohibited from marrying non-Saudis, except with special permission from higher authorities. Permission is also required before a Saudi woman is able to marry an Arab, who is not a citizen of the Gulf Cooperation Council.." [more]

~~~~~~~~ [ Sep 13 ] ~~~~~~~~~

Saudi Hits Back [Sep 13]
"Saudi Arabia yesterday dismissed a US claim that it was not doing enough to fight terrorism. Such public criticism does not tally with what US officials say in private, said Foreign Minister Prince Saud Al Faisal.. ..He was responding to a question about remarks by the US Treasury's top anti-terrorism official, Stuart Levey, who chided Saudi Arabia for not prosecuting the bankrollers of terrorist groups. The undersecretary for Terrorism and Financial Intelligence told the US television network ABC that not a single individual identified by the US or the UN as a terror financier had been prosecuted by Saudi Arabia.." [more]

Five Firms Tender for $1 Billion Security Fence [Sep 13]
"Saudi Arabia has invited companies to bid for a contract to build a security fence along its border with Iraq at cost of up to 4 billion riyals ($1.07bn), officials at five invited companies said yesterday. Saudi Arabia wants to build a double-lined, razor wire fence along the 900km frontier with its northern neighbour, complete with thermal imaging and radar equipment. The companies include Saudi Arabia's Binladin Group, along with Saudi Oger, El-Seif Engineering and Construction, Al Khodary Sons Company and Al Arrab Contracting Company. The companies have until October 28 to bid.." [more]

Saudi Arabia Sees Speaker's Initiative as Chance to Break Political Deadlock [Sep 13]
"Saudi Arabia said the initiative proposed by Speaker Nabih Berri offers a chance to break the political deadlock in Lebanon and elect a new president for the country. 'After the initiative announced by [Berri], there is cautious optimism. There is a chance,' Saudi Foreign Minister Prince Saud al-Faisal said in Jeddah Wednesday. Faisal said the proposal marks a change from the opposition's previous position and this could lead to a solution.." [more]

Saudi Airlines to Slash 50 pct of Internal Flights by End-Oct [Sep 13]
"State-owned Saudi Arabian Airlines plans to slash 50 pct of its domestic flights by the end of October to allow two private carriers to fly new routes, the Arab News reported today. The English-language daily said the carrier will stop operating on 14 internal routes across the vast oil-rich kingdom which will be made available to National Air Services and Sama airlines. Air transport and airport services are among the vital fields the government has opened up to the private sector as part of an ambitious privatisation drive.." [more]

Saudi FM: Mideast Conference Pointless If it Does Not Tackle Core Issues [Sep 13]
"Saudi Arabia says it may not attend a U.S.-sponsored Mideast peace conference later this year if it does not cover core issues of the Israeli-Palestinian conflict. Saudi Foreign Minister Saud al-Faisal said Wednesday in Jeddah that the conference should address the status of Jerusalem, the borders of a Palestinian state and other issues included in an Arab peace initiative.. ..The Saudi foreign minister says the conference must set a timetable for implementing a peace deal to avoid what he calls 'endless negotiations.' The Arab peace initiative, first launched in 2002, was revived in March this year at an Arab summit in Riyadh.." [more]

On the Freedom of the Press in Saudi Arabia [Sep 13]
"The press in Saudi Arabia is today experiencing growing freedom, as it has freed itself to a great extent of many political and social constraints and begun to play its role as a popular authority in monitoring the institutions of society through sharp and bold criticism at times. However, local newspapers have received benefits - distinguishing them in some cases from their counterparts in other Arab countries - that might see a reversal, due to the lack of a clear judicial relationship between newspapers and the institutions and individuals making up society. Thus, from time to time, the press sector in Saudi Arabia encounters measures that harm this important political achievement and create the impression that everything being said about the growing freedom of expression in Saudi Arabia is unsupported by reality.." [more]

Saudi Arabia's First Direct Mail Conference Kicks Off in Riyadh [Sep 13]
"Under the patronage of his Excellency Dr. Mohammed Benten, the first conference in the Kingdom to focus solely on direct mail, titled 'Saudi Arabia's First Direct Mail Forum', was inaugurated. Saudi Post (SP), Saudi Research and Marketing Group (SRMG) and Direct Marketing Services (DMS) joined forces to organize this momentous event to celebrate the beginning of a new and innovative industry in the Kingdom; Direct Mail and to officially announce the close cooperation and strategic partnership of the Saudi Post, SRMG, and DMS working towards enhancing the Direct Mail Industry in Saudi Arabia and forming an entity specialized in DM.." [more]

~~~~~~~~ [ Sep 12 ] ~~~~~~~~~

Saudi Arabia Wins OPEC Increase, Defying Iran, Libya [Sep 12]
"Saudi Arabia persuaded OPEC members to increase production for the first time in a year, seeking to reduce the record price of oil, over the objections of Iran, Qatar, Venezuela, Libya and Algeria. Saudi Arabia, the group's biggest exporter, wanted to boost supplies after crude gained 28 percent this year to $78 a barrel, said Iraqi Oil Minister Hussain al-Shahristani. The 500,000 barrel- a-day increase will be on top of actual production, according to Kuwait's acting oil minister, Mohammed Abdullah al-Aleem.. ..As recently as last week, most ministers from the 12-member Organization of Petroleum Exporting Countries said there would be no change to quotas during meetings in Vienna that concluded yesterday. Supplies were sufficient to meet demand, the OPEC officials said.." [more]

Saudis to Open Embassy in Iraq [Sep 12]
" Saudi Arabia's foreign minister said Wednesday that the kingdom soon will open an embassy in Baghdad for the first time since Saddam Hussein's 1990 Iraqi invasion of Kuwait, a step the U.S. has pressed the Saudis to take. The announcement by Prince Saud al-Faisal came after a Riyadh delegation returned from Iraq, where al-Faisal said it had investigated the possibility of the embassy's opening. 'After we received the delegation's report, it is expected that an embassy will open soon,' al-Faisal told reporters in the Red Sea port city of Jiddah.." [more]

Gulf Union Shares Soar on Debut [Sep 12]
"Gulf Union Cooperative Insurance Company began the Saudi stock market trading with 662.50 percent jump in its share prices yesterday. Gulf Union became the 14th company to be traded in the insurance sector that has seen debuts of various companies in the last few months. Shares of other insurance companies also soared on the first day of trading. The SR10 share of Gulf Union opened at SR109.75 and fell to SR70 during the trading before closing at SR76.25 yesterday.." [more]

Saudi Arabia Thrash Ghana [Sep 12]
"African Cup of Nations hosts Ghana are thrashed 5-0 by Saudia Arabi in an international friendly in Riyadh on Tuesday. The hosts opened the scoring as early the fifth minute through Yasser Al Qahtani, who also scored six minutes after half-time.. ..The games are part of Ghana's preparation for the Nations Cup finals that they are hosting in January.." [more]

Saudi Lawsuit Against International Tobacco Companies Postponed [Sep 12]
" Saudi court has postponed the hearing of the first lawsuit by Saudi health authorities against two international tobacco companies until October 31, a spokesman for Ministry of Health said in a statement on Wednesday. Representatives of the companies - the names of which have not been disclosed - were not present during the hearing held Tuesday at the Riyadh Higher Court, Khalid bin Mohammed Morghalani said. The Saudi Ministry of Health is seeking 10 billion Saudi riyals (2.7 billion dollars) in compensation to be used for the treatment of smoke-related illnesses as well as another 500 million riyals to be paid annually.." [more]

~~~~~~~~ [ Sep 11 ] ~~~~~~~~~

Sharif May Find Second Saudi Stint Tough [Sep 11]
"Former Pakistan Prime Minister Nawaz Sharif received a "cold" reception from the Saudi government when he reached Jeddah and has apparently been barred from taking part in any political activity for the remaining period of his exile. Sharif, who was deported yesterday within hours of landing here after a seven-year exile, was received at a terminal meant for Saudi royals but was not taken to the Saroor Palace, where he and his 20 family members had stayed for six years since 2000 under a "deal" with President Pervez Musharraf.." [more]

APDM Slams Deportation [Sep 11]
"Admitting their failure to mobilise the people and prevent the deportation of former prime minister Nawaz Sharif to Saudi Arabia, leaders of the All Parties Democratic Movement (APDM) on Monday announced that they would launch a countrywide movement to get rid of the military dictatorship and restore genuine democracy in the country. The said at a press conference that after the Supreme Court’s Aug 23 verdict allowing unhindered return of the Sharif brothers to the country and Gen Musharraf’s assurance that the ruling would be honoured, no opposition leader could even think of the action taken by the authorities to deport the PML-N chief to Saudi Arabia.." [more]

Saudi King Receives Message From Ahmadinejad [Sep 11]
"Saudi King Abdullah met Monday visiting Iranian intelligence minister Gholamhossein Mohseni-Ejeie, who handed him a message from President Mahmoud Ahmadinejad, the official SPA news agency reported. It did not reveal the content of the message, but said the meeting in the Red Sea city of Jeddah was attended by Saudi intelligence chief Prince Miqren Bin Abdel Aziz. Iran's official IRNA news agency said Sunday that Tehran has urged Saudi Arabia to crack down on religious extremism, following reports of anti-Shiite sermons by Saudi Sunni preachers.." [more]

League of Demanders of Women's Right in Saudi Arabia [Sep 11]
"..On September 4, 2007, the liberal Arab website Aafaq published a statement from the newly established League of Demanders of Women's Right to Drive Cars in Saudi Arabia, asking women to sign a message demanding that women be given the right to drive. The league plans to deliver the message to King 'Abdallah on Saudi Arabia's national holiday, September 23. Among the founders of the League are women's rights activist Wajeha Al-Huwaidar, and Fawzia Al-Uyyouni, the wife of imprisoned reformist 'Ali Al-Domaini.. ..'We Would Like to Remind Everyone That Rights Are Not Given or Earned - They Are Taken'.." [more]

Cabinet Approves Housing Authority [Sep 11]
"The Council of Ministers yesterday approved the formation of a general authority for housing. The authority will devise the Kingdom’s future housing strategy and carry out low-cost housing projects for the poor.. ..Speaking about the housing authority, Culture and Information Minister Iyad Madani said it would take up matters related to housing strategy from the Ministry of Economy and Planning.. ..'In order to achieve its objectives, the authority will prepare a comprehensive housing strategy for the Kingdom. It will also propose new rules and regulations and identify those who deserve charitable and low-cost housing units,'.." [more]

Riyadh University Taps Nobel Talent [Sep 11]
"Eleven Nobel Prize laureates including scientists and economists have agreed to offer their services to King Saud University (KSU) in Riyadh under a program aimed at strengthening Saudi Arabia’s position in the fast developing science and technology sector.. ..In a two-page advertisement published in local Arabic newspapers, KSU said its Nobel Laureates Program was aimed at promoting science and technology, boosting research and development, spreading a culture of science and inventions in society and transforming the Kingdom into a knowledge-based economy.." [more]

Saudi Stocks Recover Slightly [Sep 11]
"The Saudi stock market recovered slightly yesterday after falling 48.47 points on Sunday. The Tadawul All-Share Index (TASI) closed at 7,966.15 points, up 37.52 points.. ..The stock market turnover was SR8.75 billion yesterday as compared to SR7.83 billion on Sunday.. ..The stocks with the biggest market capitalization in the index closed on a mixed note. SABIC’s shares moved by 0.6 percent, while Al-Rajhi Bank’s shares fell by 1.2 percent, which dampened the general index movement due to Al-Rajhi Bank’s high market capitalization in the index.." [more]

~~~~~~~~ [ Sep 10 ] ~~~~~~~~~

Sharif Forced Back Into Saudi Exile [Sep 10]
"Former Pakistan prime minister Nawaz Sharif has been sent back to exile in Saudi Arabia only hours after returning to his homeland. A Pakistan International Airlines plane carrying Mr Sharif left Islamabad airport only hours after he was detained in the confines of the VIP terminal.. ..Once in Pakistan, the authorities presented Mr Sharif with a charge sheet accusing him of corruption and money laundering before forcibly taking him away to a waiting aircraft. Mr Sharif had returned to Paksitan after seven years in exile to challenge President Pervez Musharraf.." [more]

OPEC Meeting Speculation Grows Saudis May Push for Output Hike [Sep 10]
"Speculation is growing ahead of tomorrow's OPEC output meeting in Vienna that Saudi Arabia, the cartel's biggest member, might break ranks and push for a small output hike. Although the Saudis have remained silent ahead of the meeting, with Oil Minister Ali al Naimi declining to comment to the press earlier this morning, pressure is mounting on the cartel to do something about near record high prices. This pressure has made market participants less certain about the outcome of tomorrow's meeting, even though all OPEC members except the Saudis have reiterated in recent days there is no need for more OPEC oil at present.." [more]

Abbas Meets With King Tomorrow [Sep 10]
"Palestinian President Mahmoud Abbas will arrive here tomorrow and tell Custodian of the Two Holy Mosques King Abdullah that he still backs the Saudi-sponsored power sharing deal with Hamas provided its cedes control of Gaza, the Palestinian ambassador in Riyadh said yesterday. Abbas will tell the king that the 'Makkah Accord, which he personally sponsored is still a valid way out of the tense situation in the Palestinian territories, on condition that the situation in Gaza returns to what it was” before Hamas seized power in mid-June'.." [more]

Syrian Foreign Minister to Visit Saudi After Spat [Sep 10]
"Syrian Foreign Minister Walid al-Moualem will visit Saudi Arabia on Tuesday, weeks after a diplomatic spat that saw the kingdom accuse Damascus of fomenting instability in the region. In unusually scathing comments last month, Saudi Arabia, which has been trying to bolster its role as a regional power broker, rejected as "lies and fallacies" high-level Syrian accusations that its role in the Middle East was waning.. ..Moualem was expected to meet Saudi King Abdullah on Tuesday, Saudi sources said. A Lebanese political source close to Damascus said the visit was part of efforts to ease tensions.." [more]

Saudi Insurance Sector Worst Hit as TASI Declines [Sep 10]
"The Saudi stock market suffered 48.47 points fall yesterday after rebounding 123.44 points on Saturday. The Tadawul All-Share Index (TASI) closed yesterday at 7,928.63 points. The stocks in the banking, agriculture and insurance sectors were worst hit. Shares of seven banks fell.. ..In the insurance sector all shares were in the red.." [more]

Olympic Saudi Arabia Arrives in Hanoi [Sep 10]
"Twenty players of Olympic Saudi Arabia arrived at Hanoi-based Noi Bai International Airport at 4am this morning, September 10, to prepare for the third qualifier match of the2008 Beijing Olympics. The team will have a practice at My Dinh Stadium in Hanoi this afternoon. Having just one point, Olympic Saudi Arabia is determined to win this match against Vietnam on September 12.." [more]

Saudi’s Crude Production Increase Plans On Track [Sep 10]
"Saudi Arabia is on schedule with plans to boost its crude oil production capacity to 12.5mn bpd by 2009, despite rising industry costs, a top official at state oil company Saudi Aramco said on Saturday. Higher labour and raw materials prices have however hit two planned joint-venture refineries, which will now cost more than original estimates of $6bn.. ..Saudi Arabia, the world’s top oil exporter, has fast-tracked oilfield expansion plans to raise output capacity and maintain spare capacity of at least 1.5mn bpd to meet growing world demand or cover unexpected shortfalls in supply.." [more]

Shoura Committee to Probe Price Rise [Sep 10]
"The Shoura Council, Saudi Arabia’s 150-member appointed consultative body, announced yesterday that it had established a special committee to study price increases in the Kingdom. The announcement was made a day after SAMA Gov. Hamad Al-Sayyari said that inflation in Saudi Arabia was expected to rise to 4 percent this year.. ..Shoura President Sheikh Saleh Bin-Humeid emphasized 'the need for all efforts to be expedited' to tackle the price increases which have become a burden on citizens and residents alike in the Kingdom over the past year.." [more]

It Is Right Time for Saudi Arabia to Go for Exchange Traded Funds [Sep 10]
"Saudi Arabia is an attractive investment proposition and it is apparent that the country does not get allocations in international portfolios due to foreign ownership restrictions. The decision of the Council of Ministers on Aug. 27 authorizing the Capital Market Authority (CMA) to remove restrictions on investors from the five other GCC countries is another step in the right direction toward liberalizing and opening up of the Kingdom’s capital market.. ..An ETF is an index fund listed and traded on an exchange like a stock. It enables investors to gain broad exposure to an entire stock market.." [more]

~~~~~~~~ [ Sep 9 ] ~~~~~~~~~

Inside the U.S.-Saudi Relationship [Sep 9]
"..The U.S. relationship with Saudi Arabia has improved in many ways during the past three years, and not just on the security front. It is a significant but not well-known success story in the Middle East, even given the differences we have with that nation from time to time. How and why did improvement happen in, of all places, Saudi Arabia? Let me suggest three reasons: The relationship remains a strategic one that is growing in importance rather than diminishing.." [more]

Saudi Arabia Offers to Keep Sharif Brothers in Jeddah Again [Sep 9]
"As former Premier Nawaz Sharif is set to return here tomorrow along with his brother, Saudi Arabia has offered to keep them in exile again, leaving the option of deporting them back to Jeddah, where they spent six years before shifting to London, with the Pakistan government. Saudi Prince and intelligence chief Muqrin bin Abdul Aziz, who along with Saad Hariri, son of ex-Lebanese Prime Minister Rafiq Hariri, met President Pervez Musharraf yesterday to discuss the Sharif brothers' plans to return home, said later that Riyadh was ready to host them again.." [more]

Abbas and Saudi King to Discuss Hamas Crisis [Sep 9]
"Palestinian president Mahmud Abbas will visit Saudi Arabia on Tuesday and tell King Abdullah that he still backs a Saudi-sponsored power-sharing deal with Hamas provided it cedes control of the Gaza Strip, the Palestinian ambassador in Riyadh said on Sunday. Abbas will tell the monarch that 'the Mecca agreement which he personally sponsored is still a valid way out of the tense situation in the Palestinian territories, on condition that the situation in Gaza returns to what it was' before Hamas seized power in mid-June, Jamal al-Shobaki told AFP. Shobaki made his remarks after the official SPA news agency announced that Abbas would hold talks with Abdullah in the Red Sea city of Jeddah on Tuesday.." [more]

OPEC Ministers to Meet to Assess Tense Oil Market [Sep 9]
"OPEC ministers began arriving in the Austrian capital on Sunday ahead of a meeting at the oil cartel's headquarters, with the 12-member club under pressure to raise output. Analysts, previously convinced the group would make no change to its output level, are now split over whether the crude exporters will concede that increased production is needed to dampen prices. The Washington-based oil consultancy PFC Energy, citing oil ministry sources, said that Saudi Arabia, the most influential OPEC member, was now in favour of an output hike at Tuesday's meeting.. ..Saudi Arabian Oil Minister Ali al-Nuaimi is in Vienna, but has so far declined to speak to reporters.." [more]

Saudi Intellectuals Move to Confront Smear Campaign [Sep 9]
"Seventy-three researchers from the Arab world, the United States, Europe, Russia and Japan are working to publish books under a Saudi-financed international project aimed at removing misconceptions about Islam and the Kingdom. 'The project will be launched shortly with the publication of eight books,' said Mohammed ibn Saud Al-Bishr, head of the scientific team for the project. He said the project was initiated by a group of Saudi intellectuals to confront smear campaigns against Islam and Saudi Arabia.. ..The issue of Women in Saudi Arabia needed special focus as the Western media gave a wrong impression about status of women in the Kingdom. Some have gone to the extent of saying that Islam is an obstacle for the progress of women in the Islamic world in general and Saudi Arabia in particular.." [more]

Camel Deaths Spark Anger in Saudi Arabia [Sep 9]
"Camel breeders in Saudi Arabia are blaming the government for "toxic fodder" that killed thousands of camels over the past month.. ..Many owners said the deaths have been caused by the bran fed to the animals instead of the more expensive barley, the daily Al Hayat reported. However, the agriculture ministry blamed 'the wrong methods of stocking bran.' Agriculture Minister Fahd bin Abdul Rahman Balghnaim told Al Watan that preliminary results showed the bran was contaminated by poisonous fungi.." [more]

Saudi Shares End Higher on Buying Interest in Heavyweights [Sep 9]
"Shares in Saudi Arabia, the largest Gulf market, ended up 1.6% at 7977.1 yesterday, led by value-buying in heavyweights after the benchmark index fell in the previous two sessions. Saudi is the worst performing regional market this year, but the Tadawul All Share Index has risen about 15% since early July, outpacing all other Gulf markets during this period.. ..Saudi Telecom Co (STC) gained 1.1% to 67.75 riyals. STC said late last week that it is not looking at any “foreign acquisitions” right now, and will not buy any new firms outside Saudi Arabia in 2007.." [more]

MWL Chief Wants Swedish Cartoonist Punished [Sep 9]
"The Makkah-based Muslim World League (MWL) yesterday urged Swedish authorities to punish the Nerikes Allehanda newspaper and its cartoonist for publishing a blasphemous cartoon depicting Prophet Muhammad (peace be upon him) in a negative way.. ..The row in Sweden echoes the one that began in Denmark in September 2005 when one of the country’s top newspapers, Jyllands-Posten, printed 12 cartoons depicting Prophet Muhammad (peace be upon him). These drawings sparked violent protests across the Muslim world, culminating with the burning of the Danish Embassy in Damascus and its consulate in Beirut in February 2006.." [more]

83,000 Children Beg in Kingdom – Study [Sep 9]
"There are more than 83,000 children beggars in Saudi Arabia according to a study conducted by a professor in the Mohammed Bin Saud University in Riyadh. Some 68 percent of this number comprise non-Saudis between six and eight years old. Most came into the Kingdom for camel racing and have stayed to survive initially by selling goods like tissue and bubble gum near traffic lights, before graduating into beggary. Illiteracy - a perpetrating factor for poverty - among them is high. In Jeddah, 96% of the children beggars are Saudis of which 55.6 percent are girls who mostly have illiterate mothers. Only nine percent of the girl beggars attended primary school.." [more]

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