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~~~~~~~~ [ Oct 20 ] ~~~~~~~~~
Bush Certifies Saudi Arabia as Anti-Terrorism Ally [Oct 20]
"US President George W. Bush certified Saudi Arabia as an anti-terrorism ally on Friday, weeks after a top US Treasury
official sharply criticized the kingdom's record. Bush's move came in a memorandum to US Secretary of State Condoleezza
Rice, required under US law to free up aid from Washington to Riyadh, that the White House released to reporters. 'I hereby
certify that Saudi Arabia is cooperating with efforts to combat international terrorism and that the proposed assistance
will help facilitate that effort,' the president said. His memorandum came a little more than a month after the US Treasury
undersecretary for Terrorism and Financial Intelligence, Stuart Levey, charged that Saudi Arabia has failed to prosecute the
bankrollers of terrorist groups.." [more]
Gulf Investments in Focus at G7 [Oct 20]
"Gulf countries' international investments through sovereign wealth funds or government-owned entities was one of the main
focus areas of discussion at the Group of Seven foreign ministers meeting yesterday.. ..'G-7 members particularly concerned
about the recent aggressive investments of these state-owned funds especially from the Gulf and China taking positions in
strategic assets across the world. Their lack of transparency adds a security angle to these acquisitions,' said a source
close to the meeting.. ..The G-7 members are increasingly concerned about some of the acquisitions by Gulf states such as
those by the UAE, Qatar and Saudi Arabia in Europe.." [more]
Upsurge in Incidence of Lung Cancer Among Saudis [Oct 20]
" More than 250 people are diagnosed with lung cancer in Saudi Arabia each year, according to statistics released by the
Saudi National Cancer Registry. The figures make up 4 percent of the total cancer cases identified in male and female
Saudis. The statistics also show that men are more prone to lung cancer than women and that there has been an upsurge in
lung cancer among women due to an increased use of hookah. The increase coincides with a trend across the Kingdom for coffee
shops that cater exclusively serving women. Lung cancer is considered to be a common form of cancer, ranking first in the
world and fifth in Saudi Arabia.." [more]
I Had KAUST in My Mind for 25 Years - Abdullah [Oct 20]
"Custodian of the Two Holy Mosques King Abdullah yesterday emphasized the significance of the new world-class university,
which is being built in Thuwal, 80 kms north of Jeddah, and said it would boost the Kingdom’s economic, social and cultural
development.. ..“The establishment of a university for science and technology and scientific research having international
standard has been an idea vibrant in my mind for more than 25 years and I thank God for helping us to realize it,” the king
said.." [more]
Tadawul to Shift to New Trading System Today [Oct 20]
"Saudi banks and stock brokers will reopen the more than 3.6 million investment portfolios this morning in order to exchange
shares of 105 companies listed on the Saudi bourse. The portfolios were closed last week in preparation for shifting to the
new exchange system. The Capital Market Authority (CMA) stopped all financial dealings of these portfolios at the end of
trading before Eid Al-Fitr holidays. Market analysts said the new Tadawul system would increase daily transaction to two
million from the current level of about 800,000. The new system makes it possible to introduce trading in products such as
bonds and sukuk and to offer entirely new products such as exchange traded funds.."
[more]
~~~~~~~~ [ Oct 19 ] ~~~~~~~~~
Blogging Blossoms in Saudi Arabia [Oct 19]
"Blogging is fast becoming a national pastime among Saudi Arabia's youth, according to report in regional daily Asharq
Al-Awsat. Young Saudi Arabians are increasingly using the Internet to air their views about political, social and economic
issues. In a country where traditional media is monitored by the State, the Internet is providing greater freedom to express
opinions and report news.. ..However, Saudi Arabian bloggers do not have complete freedom to publish anything they like.
'Blogs are subject to the same treatment as websites; they are blocked when they contain objectionable material such as pornography in particular, and other things in general, and things that go against the established principles of our
religion and national regulations,'.." [more]
Saudi Arabia Boosts WFP Assistance [Oct 19]
"A Run-for-Food race in Rome on Sunday will be one of the highlights of the World Food Day with the theme, "The Right to
Food," that was observed by over 150 countries, including the Kingdom, as part of month-long celebrations that started on
Oct.16.. ..The minister said Saudi Arabia's total material and cash contributions to the World Food Program
(WFP), since its
establishment in 1963, stood at more $453 million. 'Last year's Saudi contributions to the program reached approximately $34
million,'.." [more]
Panel Seeks Scrutiny of Saudi Abuses [Oct 19]
"Saudi Arabia has failed to take substantial steps to promote religious tolerance, despite assurances from the Bush
administration that the kingdom has made progress on reform, a US watchdog said yesterday. A report by the US Commission on
International Religious Freedom called for new congressional scrutiny of Saudi Arabia’s progress in implementing religious
reform policies announced in July 2006. The commission, established by Congress in 1998 to monitor religious freedom, also
asked the administration to pressure Saudi Arabia — an important US ally in the Middle East and the world’s biggest oil
producer — to prove it is not involved in circulating texts blamed for encouraging Sunni Muslim militancy in religious
schools and mosques worldwide.." [more]
Saudi Rights Body to Take Part in Forum [Oct 19]
"Saudi Arabia's Human Rights Commission (HRC) is taking part in the second Arab-European dialogue on racial discrimination
and human rights due to be held in Copenhagen from October 21 to 23. 'The HRC will present a paper on racial discrimination
of Muslims in European Union states,' said HRC President Turki Bin Khalid Al Sudairi in a statement to reporters
yesterday.." [more]
Kingdom to Open Embassy in Finland [Oct 19]
"Saudi Arabia is working on opening an official embassy in Finland as a sign of the positive development in relations
between the two countries, a senior Finnish Foreign Ministry told Arab News recently. 'One indication of this visit is that
you (Saudi Arabia) are planning to open an embassy here in Helsinki,' said Teemu Tanner, director general of Africa and the
Middle East at the Ministry for Foreign Affairs of Finland. Tanner was referring to Finnish President Tarja Halonen’s visit
to the Kingdom for the first time on Sunday.." [more]
Ration Cards for Low-Income Citizens [Oct 19]
"The Council of the Saudi Chambers of Commerce has opposed a suggestion that the government should subsidize certain
products that are facing price increases by facilitating their sale to all levels of society at a unified low price. The
council has opposed the suggestion saying that this would add extra burden to the government and would not be fair to all
citizens.. .. 'The government now has a good and practical option to solve the current crisis of high prices by establishing
a system that entails granting ration cards to low-income citizens. This would enable them to buy essential commodities at below-market prices.'.." [more]
AKEA Reschedules Jeddah Forum on Knowledge Economy [Oct 19]
"Arabian Knowledge Economy Association (AKEA) has postponed to Jan. 12-13, 2008 the first regional conference on knowledge
economy to be held in Jeddah which was earlier set for Oct. 27-28, 2007.. ..Abdullah
Subyani, president of AKEA, said
“though we regret to announce the postponement, we would like to inform that the decision has been taken for the overall
success of the event.” More keynote speakers including Amr Mousa, secretary general of the Arab League and Bertie Ahern,
prime minister of Ireland, are likely to participate in the conference in January.."
[more]
~~~~~~~~ [ Oct 18 ] ~~~~~~~~~
Kingdom Is Top FDI Recipient in Arab World [Oct 18]
"Saudi Arabia was the largest recipient of foreign direct investment (FDI) in the Arab world in 2006, attracting $18 billion,
an increase of 51 percent over 2005, according to a report of the United Nations Conference on Trade and Development
(UNCTAD). The report, published on Tuesday, attributed the increase to the region’s strong economic growth and improved
business climate and to high oil prices which have attracted increasing amounts of FDI to oil, gas and related industries as
well as to telecom, tourism and financial services.." [more]
Feds Recommend Closing Saudi School in Va. [Oct 18]
"A private Islamic school supported by the Saudi government should be shut down until the U.S. government can ensure the
school is not fostering radical Islam, a federal panel recommends. In a report released Thursday, the U.S. Commission on
International Religious Freedom broadly criticized what it calls a lack of religious freedom in Saudi society and promotion
of religious extremism at Saudi schools. Particular criticism is leveled at the Islamic Saudi Academy, a private school
serving nearly 1,000 students in grades K-12 at two campuses in northern Virginia's Fairfax County. The commission's report
says the academy hews closely to the curriculum used at Saudi schools, which they criticize for promoting hatred of and
intolerance against Jews, Christians and Shiite Muslims.." [more]
Saudi Arabia Revamps Top Petroleum Body [Oct 18]
"Saudi Arabia announced yesterday a revamp of the Supreme Council for Petroleum and Minerals
(SCPM). The council is headed by
King Abdullah Bin Abdul Aziz, said a royal order issued yesterday. Prince Sultan Bin Abdul Aziz, the Crown Prince and
minister of defence, will be deputy chairman. Most of the previous members retained their positions.. ..Saudi Arabia is
adopting an integrated oil policy to take into account developments in the world oil market.."
[more]
Expert Says Saudi Arabia Should Consider Revaluing Riyal [Oct 18]
"A leading Saudi financial analyst and economic expert has called for the reconsideration of the exchange rate of Saudi riyal
without de-pegging it from the US dollar. Dr. Abdul Wahab Abu Dahesh said the exchange rate should be returned to the value
of 1986 when the riyal was 3.65 against the dollar. Abu Dahesh noted that the US dollar exchange rate indicates the weakness
of the US economy, but not the Kingdom's.. ..He said the revaluation of riyal had now, more than any other time, become an urgent issue. 'This will help in increasing the purchasing power of individuals and companies and remarkably slash the value
of imports,' he said.." [more]
Record Oil Rally Stalls as OPEC Mulls Action [Oct 18]
"Oil's record rally stalled on Wednesday after an OPEC minister said the group could not rule out another output hike and may
call an early formal meeting next month in Saudi Arabia. U.S. crude settled down 21 cents at $87.40 a barrel -- its first
loss in seven sessions -- after touching a fresh record $89 earlier in the day. London Brent crude fell 42 cents to $83.13 a
barrel.. ..'There will be a meeting of ministers, initially informally, but there may be a formal meeting,' Minister Odein Ajumogobia said. 'We are still a month away and it depends what transpires before then.' OPEC's next scheduled formal meeting
is scheduled for December 5 in the United Arab Emirates. The group already has agreed to boost output by 500,000 barrels per
day starting November 1.." [more]
Saudi Ups Consumer Protection Efforts [Oct 18]
"Saudi Arabia is consolidating national efforts to monitor consumer prices with the creation of a department for consumer
protection.. ..Osama Al-Kurdi, member of the board of trustees of the Riyadh Economic Forum and member of the Shura Council,
told Arab News: 'An agreement has already been reached and the Ministry of Finance will provide the necessary financing to
make it operational.'.. ..The new department will monitor consumer prices on a continuous basis, and will be open to consumer feedback, Arab News said.." [more]
~~~~~~~~ [ Oct 17 ] ~~~~~~~~~
King Abdullah's 'Openness' Strategy [Oct 17]
"Four leaders of consequence play an enormous role in today's international arena. The presidents of the United States,
Russia and China wield tremendous military, political and economic power. The fourth leader is King Abdullah of Saudi Arabia,
who has the potential to bring peace and prosperity to the Middle East due to Saudi Arabia¡¯s strategic heft as an energy
giant, its heavyweight political status in the Arab world and its critical role in shaping the future of the Muslim world.
The king, who enters his third year on the throne, embodies a unique mix of reformist instincts, religious credentials, political credibility and vision for change. In the interest of stability, the United States and Europe must strike a grand
strategic bargain with King Abdullah to bring lasting peace to this deeply troubled yet energy-rich region.."
[more]
We’re Doing All We Can: OPEC Chief [Oct 17]
"Organization of the Petroleum Exporting Countries (OPEC) chief Abdalla Salem
El-Badri said yesterday that the organization
was 'concerned' at the recent surge in oil prices and was convinced that the current record high prices were not justified by
the fundamentals. 'OPEC is doing all it can and is carefully watching developments in the oil market and has observed with
concern the recent escalation in oil prices,'.. ..There is no fundamental justification for a price run-up that has lifted
oil from below $70 in mid-August, say officials from the group that pumps more than a third of the world’s oil. 'OPEC cannot
do much now,' Libya’s top oil official Shokri Ghanem told a news agency. 'OPEC did all that it can.'.."
[more]
Saudi Malls Worth a Look for Investors [Oct 17]
"Investing in shopping malls in the Saudi capital, Riyadh, will probably remain profitable for some time as demand among
shoppers grows, Boston-based property consultancy Colliers International said in a report. Rents in high-end malls have grown
as much as 20% since 2005, Colliers said in the report on the Riyadh property market. Development of shopping malls, and
residential and office buildings with retail space on the ground floor, has accelerated.. ..by 2010, Riyadh will be sixth
amongst Gulf Arab cities in retail space per person. Dubai will be first at more than 2 square metres per person, compared with 0.5 square metres in Riyadh. 'By regional standards, the overall provision of Gross Leasable Area per capita in Riyadh
provides more scope for development,'.." [more]
GCC Investment Drives Global Capital Markets [Oct 17]
"Once again oil proved its importance in shaping global economy. Its impact on development is unquestioned. The demand for
this precious commodity both from the developed and developing countries remains unabated, and of late, surged to record
levels as global industrial and commercial expansion appears to be in full swing particulary in emerging markets.. ..In a
report titled 'The New Power Brokers: How Oil, Asia, Hedge Funds and Private Equity are Shaping Global Capital Markets', McKinsey & Company said the majority of revenues generated from oil and petroleum products have been recycled into global
financial markets, 'making petrodollar investors increasingly powerful players.'.."
[more]
We'll Keep Trying Till We're in Driving Seat [Oct 17]
"..New calls for women to drive is the first effort by the newly-formed committee to defend Saudi women's rights. Other
issues are expected to include domestic violence and problems of divorced women. The four women activists initially faced
criticism that it was "nonsense" to discuss such issues, as there were other priorities.. ..The four women were accused of
having a "Western agenda" and coming from privileged backgrounds. They categorically deny both accusations.. ..She and her compatriots stress that banning women from driving has no roots in religious law and that there is no clear teaching that
enforces such a ban.." [more]
Islam Guarantees Justice for All, Says Sultan [Oct 17]
"Crown Prince Sultan said yesterday that the newly issued Judiciary Law and Court of Grievances Law were important turning
points in the Kingdom’s judicial history. He said the new laws would ensure justice and protect public rights. Prince Sultan
made this statement as he opened an international conference on engineering arbitration organized by the Saudi Council of
Engineers.. ..'Custodian of the Two Holy Mosques King Abdullah’s allocation of SR7 billion to upgrade judicial facilities and
train judges shows the government’s keenness on the issue,' Sultan said, adding that he hoped the conference would discuss
the new laws’ positive impact on investment.." [more]
Bureaucratic Hurdles, Labor Shortage Push Out Women Investors [Oct 17]
"Saudi businesswomen have urged authorities to remove the obstacles facing their investment projects, by issuing more
recruitment visas and facilitating procedures to get licenses. They said that a lack of visas, bureaucratic hurdles to get
licenses and problems in obtaining loans had forced many women to cancel their investment plans. They also urged authorities
to lift the ban on woman investment in certain projects.. ..According to the latest statistics available, Saudi women own 3.4
percent of companies in the Kingdom. Some 1,500 companies and institutions are registered under their names. Women hold 36,200 commercial registrations — 19,816 in retail and wholesale trade and commercial services, 5,837 in building and
construction, 1,483 in social services, 944 in industry, 354 in electricity power generation and water supply, 334 in
agriculture and fishing, 317 in transport and storage and 60 in oil and mines.."
[more]
~~~~~~~~ [ Oct 16 ] ~~~~~~~~~
Rice Says Time for Palestinian State Has Come [Oct 16]
"US Secret-ary of State Condoleezza Rice pushed Israelis and Palestinians yesterday to reach concrete understandings ahead of
a US peace summit, saying the time had come for a Palestinian state. Confirming that an international meeting would take
place in Annapolis, Maryland, Rice said the creation of a Palestinian state was essential and that efforts to that end were
US President George W Bush’s highest priority.. ..'The US sees the establishment of a Palestinian state, a two-state
solution, as absolutely essential to the future, of not only the Palestinians and the Israelis, but also the Middle East,'
she said.." [more]
Saudi, Malaysian Firms in Talks to Build Power Plants in Iran [Oct 16]
" Talks with Saudi Arabia and Malaysia on establishment of two power plants in Fars and Zanjan provinces are under way,
deputy head of Iran Power Development Company (IPDC), Mostafa Ali-Rabbani, announced here Saturday, IRNA news agency reported
on Sunday, a copy of which was sent to Arab News. The power plants will be built on the build-own-operate (BOO) or
build-operate-transfer (BOT) basis, the English-language daily Tehran Times quoted him as saying.
Ali-Rabbani termed it a
novel strategy in the country’s energy sector.. ..Iran is the world’s fourth largest oil producer, but its lack of refineries
and colossal consumption encouraged by a heavy state subsidy on fuels means it must import 40 percent of its petrol
requirements.." [more]
Riyadh to Host Major French Exhibition [Oct 16]
"A major exhibition of French products and technology targeting key sectors of the Saudi economy will be held here at the end
of next month. The exhibition French Technological Days 2007 (JTF in French) has been described as a landmark event in the
expanding bilateral relations between the two countries. It marks a diversification away from its traditional exports, such
as food, cosmetics, pharmaceuticals and textiles. JTF represents a major French initiative to penetrate new markets that will
open up in the wake of the Kingdom's multibillion dollar economic cities projects scheduled to come up in different provinces.. ..Trade with Saudi Arabia represents 20.6 percent of France's total trade with Middle Eastern countries.."
[more]
Health Ministry Reports Surge in Hepatitis Cases [Oct 16]
"More than 500,000 hepatitis C cases have been reported in Saudi Arabia, according to Dr. Khaled
Mirghalani, the Health
Ministry spokesman. He said the disease has been spreading in the Kingdom at the rate of 1.7 percent annually. Hepatitis C is
a viral infection of the liver and a major cause of acute hepatitis and chronic liver disease, including cirrhosis and liver
cancer. Globally, an estimated 170 million people are chronically infected with the virus and three to four million persons
are newly infected each year.. ..Because hepatitis C has no vaccine and can be easily spread, health officials fear that it could become the next great global pandemic.." [more]
Local School to Assist in Saudi Aquaculture Project [Oct 16]
"National Cheng Kung University (NCKU) in Tainan City in southern Taiwan will sign a contract with an American venture
Tuesday to assist in developing aquaculture off Saudi Arabia's Red Sea coast, a spokesman for the school said yesterday..
..Under the contract, the NCKU will provide a biomedical product developed by the school to the DevCorp International, an
American venture operating in the Arabian Gulf area, the spokesman said. The fish farming project has received attention from
the cabinet-level Council for Economic Planning and Development, the spokesman said, adding that the contract will not
involve revealing any crucial technology know-how.." [more]
Oil Zooms to All Time High of $86 [Oct 16]
"Oil zoomed more than $2 higher to an all-time peak of $86 a barrel yesterday, propelled by robust demand from booming
commodity markets and geopolitical worries. US crude settled $2.44 higher at $86.13 a barrel in its fifth straight session of
gains, after hitting an all-time peak of $86.22. London Brent crude rose $2.20 to $82.75. 'A run at $90 is now seen as
reasonable,' Citigroup analysts said in a research note.. ..Oil has held over $80 a barrel for most of the last month, fueled
by sturdy world energy demand growth, tight inventories heading into the winter heating season and record weakness in the US dollar. Though oil prices have more than quadrupled since 2002, they remain below the inflationadjusted peak around $90 a
barrel struck after the Iranian revolution in 1979.." [more]
Seismic Station Set Up Near Madinah [Oct 16]
"Following reports of seismic activity in the Harrat Lunayyir region about 200 km northwest of
Madinah, the Saudi Geological
Survey announced that it has opened a 24-hour-a-day control room to monitor these minor quakes — the strongest of which
registering 2.3 on the Richter scale on Thursday.. ..The Arabian Peninsula is slowly breaking away from the African continent
and a major fault line is located along the Red Sea off the west coast of the Kingdom. The peninsula is slowly drifting
toward the Subcontinent.. ..The western region of Saudi Arabia contains a 40-km thick layer of volcanic rock beneath a soft
layer of desert sand, known by geologists as the 'Arabian Shield' which spans the entire
west coast of Saudi Arabia. The main part of this geologic shield is so wide that it nearly reaches Riyadh, over 800 km from the west coast.."
[more]
~~~~~~~~ [ Oct 15 ] ~~~~~~~~~
Executive Law Of The Saudi Allegiance Commission [Oct 15]
"The following is a MEES translation of the text of a royal decree, published by the Saudi Press Agency on 8 October,
containing the executive law of the Allegiance Commission.. ..In the event that a son of the founder King ΄Abd al-΄Aziz ibn
΄Abd al-Rahman al-Faisal Al Sa΄ud is deceased, unwilling or medically incapacitated, one of his sons shall be appointed to
the Allegiance Commission in accordance with the following: .. ..The King shall ask those children of the deceased or
incapacitated member over 17 years of age to nominate two or three of their number for membership of the Commission. The
children of any deceased or incapacitated grandson (of ΄Abd al-΄Aziz) shall undertake to nominate one of their number to
participate in choosing candidates for membership of the Commission. They must nominate candidates within 15 days of
receiving the request for nominations..." [more]
First Lady to Embark on Trip to Mideast [Oct 15]
"Breast cancer awareness is the focus of first lady Laura Bush's upcoming trip to the Mideast, where she'll meet with kings
and promote women's health in an area of the world where the U.S. image has been marred by the Iraq war. Mrs. Bush will
travel Oct. 20-26 to the United Arab Emirates, Saudi Arabia, Kuwait and Jordan to meet with key officials, medical and
educational leaders and members of women's groups. She recently made a trip to Africa that focused on U.S. programs battling
AIDS and malaria.. ..In Saudi Arabia, Mrs. Bush is launching the U.S.-Saudi Arabia Partnership for Breast Cancer Awareness
and Research at the King Fahd Medical City in Riyadh and will tour the nation's first community cancer screening center. In
Jeddah, she will hold a discussion with breast cancer survivors and advocates and meet with Saudi King Abdullah.."
[more]
Saudi Terrorists Rich and Driven by Revenge [Oct 15]
"Saudi Arabian terrorists are driven by religious belief and a sense of revenge against perceived oppressors, a
counter-terrorism conference was told yesterday. Most are middle-class or rich and show no signs of psychological problems,
according to Bahraini researcher Hadyah Mohammed Fathalla, who studied 45
"mujahideen" arrested or wanted by Saudi
authorities for terrorist activity. Ms Fathalla used al-Qaeda documents and videos, as well as interviews, to build a profile
of its members in Saudi. The men were not recruited but sought out the
organisation. Their overriding motivation was to
defend the Islamic community of believers.." [more]
Saudi Suspect in Tourists' Killing Held [Oct 15]
"Saudi Arabia said on Sunday it had captured a Saudi man suspected of involvement in the murder of four French tourists in
the Muslim kingdom earlier this year. The four holidaymakers were among a group of nine French people attacked by militants
while on a desert trip in Saudi Arabia in February, the first attack on foreigners by suspected Al Qaida militants in the
conservative kingdom for 2-1/2 years.. ..Abdallah Bin Sayer Al Mohammadi, the last suspect wanted in relation to the attack,
had been captured as part of a security operation that began earlier this month in a remote area northwest of the Muslim holy
city of Medina.." [more]
Tadawul Daily Transaction to Reach 2 Million [Oct 15]
"The Saudi Capital Market Authority (CMA) will launch on Oct. 20 the much-awaited new rules that will govern trading on the
Tadawul stock market. Among the salient features of the new system is its ability to significantly boost the capacity for
processing trades. In its latest monthly bulletin, the Riyadh-based Jadwa Investment said that the daily transaction would
rise to two million from the current level of about 800,000, and has the flexibility to be upgraded further.. ..New data
issued by Tadawul showed that investor confidence has yet to recover since the collapse in share prices last year.."
[more]
Mideast Spurs Budget Flights [Oct 15]
"The economic boom in the Middle East, fueled by high energy prices in a region that supplies one-fifth of the world's crude
oil, is helping to launch a flurry of new budget airlines.. ..There is plenty of room for growth. Three budget carriers, Air
Arabia, of Sharjah, U.A.E., Kuwait-based Jazeera Airways and Sama of Saudi Arabia have snared 6.1% of the seats within the
region.. ..Plane makers Boeing Co. and Airbus, a unit of European Aeronautic Defence & Space Co., are hoping that a surge in
orders from newly launched low-cost carriers in the Middle East could spur sales in a new generation of fuel-efficient
aircraft.." [more]
~~~~~~~~ [ Oct 14 ] ~~~~~~~~~
Arabs Skeptical of U.S. Peace Effort [Oct 14]
"The upcoming Israeli-Palestinian peace conference resembles a dinner party with a less-than-inspiring menu and a bunch of
well-tailored yet exasperated guests who, if they show up at all, doubt that anyone will go home happy. Posturing and
recrimination often characterize such negotiations, but Arab nations, including Washington's closest allies, are criticizing
the November conference as a miscalculated photo op by a Bush administration desperate to repair its image in the Middle
East.. ..'Saudi Arabia and other Washington allies will lose a lot of credibility if this is just to take part in an American
show.' Secretary of State Condoleezza Rice plans a visit to the region this week aimed at persuading Arab countries to send
at least ministry-level officials to the meeting in Annapolis, Md. But analysts and media in the Middle East complain that
the U.S. has not done the diplomatic legwork needed to advance peace between Palestinians and Israelis.."
[more]
Rice Begins Mideast Trip on Cautious Note [Oct 14]
"US Secretary of State Condoleezza Rice began a Middle East visit on Sunday by voicing doubts Israel and the Palestinians
could agree during her 4-day trip on parameters for a conference on Palestinian statehood. Israeli and Palestinian
negotiating teams have begun meeting to hammer out a joint document addressing 'core issues'.. ..'I don't expect
that there will be any particular outcome in the sense of breakthroughs on the document,' Rice told reporters as she flew to Tel
Aviv from Moscow. 'I would just warn in advance not to expect that, because this is really a work in progress,' Rice said.."
[more]
Saudi is Tops for Business [Oct 14]
"A World Bank report has found that Saudi Arabia is the best place to do business in the entire Middle East and Arab World,
reported Khaleej Times. Saudi Arabia has risen from 38th to 23rd position among 178 countries in the World Bank rankings,
ahead of Kuwait (in 40th place) and the UAE (68th). In the report, the World Bank recognises Saudi Arabia as one of the
world's top reformers.." [more]
Discovering Jedda [Oct 14]
"For centuries Jedda was a waypoint for pilgrims traveling to the holy cities of Mecca and Medina located to the northeast.
However, it was not unti1 1869 with the opening of the Suez Canal in Egypt that the city’s growth took off. Today
Jedda, which is home to some 2.5 million people, is considered to be the financial hub of the Saudi kingdom. Since the residents of
the city have, for generations, been used to meeting and greeting foreigners passing through, some people from smaller towns
in Saudi Arabia say the city is decadent, says Tarik Al-Maeena, a columnist for the Saudi newspaper Arabnews and a local.
While acknowledging that the city probably is more relaxed and tolerant than the two other major cities in the kingdom –
Riyadh in the center and Daharam on the Gulf coast – to say the city is decadent is an exaggeration.."
[more]
Petrodollars From Opec Fuel US Treasuries [Oct 14]
"The biggest quarterly rally for US government securities in five years is getting an extraordinary boost from the burgeoning
reinvestment of petrodollars by the Organisation of Petroleum Exporting Countries. Opec members increased their holdings of
Treasuries 12% this year through July to $123.8bn, Treasury Department data show. The prospect that Opec’s share of US debt
is growing is based on the 31% rise in oil since December, which will raise Opec revenue 4% to $630bn this year and 9% to
$688bn in 2008, according to estimates by the US Department of Energy. Petroleum exporters are adding to holdings of US debt
three times faster than other foreign investors.." [more]
American Muslims Split Over First Day of Eid [Oct 14]
"American Muslims were split yesterday on when Eid Al-Fitr started this year, the feast that follows the Ramadan month of
fasting, with some celebrating it Friday and others opting to continue fasting until yesterday.. ..The Muslim community was
divided on the issue of the sighting of the new moon, which would denote the beginning of a new month and the beginning of
Eid.. ..Muslim organizations like the Islamic Society of North America and the Islamic Circle of North America all announced
Eid would be yesterday, but many local mosques still looked toward Saudi Arabia and decided to follow it by declaring Eid on
Friday.." [more]
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