Saudi-US Relations Information Service

Keeping Track - Recently on SUSRIS








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Saudi Arabia Not Passageway For Any Force in the World - Saudi CP [Oct 27]
"Saudi Crown Prince Sultan bin Abdul-Aziz Al Saud said Friday his nation would never become a passageway or shelter for any force in the world. This came in a press statement after inaugurating his nation's new embassy building at Kuwait's embassies zone. Asked if Saudi Arabia would allow the US to use any of the Gulf's military bases to attack Iran, Prince Sultan said his country was not 'a crossing point or shelter for any force in the world.' Commenting on Iran's declaration to attack the Gulf region if assaulted by the US, Prince Sultan said it was not in Iran's interest to harass any side.." [more]

GCC May Put Six-year Cap for Foreign Workers [Oct 27]
"A six-year residency cap on unskilled expatriate workers in the Gulf region, which was under consideration for the past three years, may soon be enforced by the GCC countries. The Gulf Cooperation Council (GCC) ministers of labour will consider a proposal to define a time-frame ceiling for residency of foreign workers in member states at a meeting in Riyadh, the Saudi capital, next month. The measure may, however, spell trouble for labour-exporting nations like India which comprise the majority of the foreign expat population in the Gulf.. ..The proposal would also be discussed during the next GCC summit scheduled for December.." [more]

Saudis Bankroll New Airlines in Yemen [Oct 27]
"Yemenia Airways is preparing to launch the first domestic flight through the new Internal Air Transport Company in 2008. According to Abdullah al-Mutareb, executive director of Yemenia, three Saudi commercial investment companies have split the capital of the new company as partners and primary contributors, which amounts to a total of $100 million. Yemenia recently signed partnership contracts with the three Saudi investment companies. According to al-Mutareb, the Saudi investors bought 75 percent of the shares in the company, while Yemenia owns the remaining 25 percent. Al- Mutareb indicated that the capital structure of the Internal Air Transport Company will be the biggest of its kind in Yemen. It will increase from $45 million to $100 million as a result of the Saudi investors’ involvement as majority shareholders.." [more]

Abdullah Gives SR100m to Arab Open University [Oct 27]
"Custodian of the Two Holy Mosques King Abdullah has donated SR100 million to support the Arab Open University (AOU), a private institution of higher education accredited to the UK Open University (UKOU), Prince Talal, chairman of the AOU’s board of trustees, announced yesterday. Prince Talal, who is also chairman of AGFUND (the Arab Gulf Program for United Nations Development Organizations), said the money was donated for buildings at AOU’s various branches in the Middle East.. ..The AOU is closely associated with the UKOU, enabling students to graduate with both an Arab Open University degree and that of the UKOU — an internationally recognized UK degree.." [more]

Conference on Cyber Terror Postponed [Oct 27]
"A four-day conference on information technology and national security, which was to be held from Nov. 3-6 in Riyadh as part of the Kingdom’s drive against cyber terrorism, has been postponed to Dec. 1. Prince Abdul Aziz ibn Bandar, assistant to the head of the General Intelligence Presidency (GIP) and supervisor general of the conference, said the postponement was approved by the Royal Court since the GIP was keen on the conference being inaugurated by Custodian of the Two Holy Mosques King Abdullah.. ..A total of 161 scientists and researchers have agreed to present their papers at the four-day event, to be held at the King Fahd Cultural Center and attended by more than 1,000 delegates, including IT experts from the Kingdom and abroad.." [more]

Oil Tops $90 on Range of Worries [Oct 26]
"Oil soared past $90 a barrel to a record on a mix of unsettling news that ranged from Middle East tensions to supply concerns, demonstrating the delicate state of world petroleum markets heading into the energy-intensive winter months. The events -- which included a statement by a top OPEC official to The Wall Street Journal that the world's oil cartel doesn't see a need to check the price surge -- might not have moved oil markets dramatically by themselves. But oil's 3.9% rise yesterday to an exchange high of $90.46 a barrel shows that prices are responding to a slew of economic and geopolitical forces and suggests further big swings could lie ahead.. ..Some OPEC members, including Saudi Arabia, fear higher prices will damp demand for cartel oil. Others, such as Iran, would prefer to keep prices high. Mr. El-Badri said that there is plenty of oil available and that prices have been rising on political turmoil in the Middle East, and investors dumping equities and putting their money in oil futures.." [more]

Saudi King Tries to Grow Modern Ideas in Desert [Oct 26]
"On a marshy peninsula 50 miles from this Red Sea port, King Abdullah of Saudi Arabia is staking $12.5 billion on a gargantuan bid to catch up with the West in science and technology. Between an oil refinery and the sea, the monarch is building from scratch a graduate research institution that will have one of the 10 largest endowments in the world, worth more than $10 billion.. ..For the new institution, the king has cut his own education ministry out the loop, hiring the state-owned oil giant Saudi Aramco to build the campus, create its curriculum and attract foreigners. Supporters of what is to be called the King Abdullah University of Science and Technology, or Kaust, wonder whether the king is simply building another gated island to be dominated by foreigners, like the compounds for oil industry workers that have existed here for decades, or creating an institution that will have a real impact on Saudi society and the rest of the Arab world.." [more]

Brown Faces Embarrassment Ahead of Saudi Visit [Oct 26]
"Gordon Brown is facing mounting criticism over next week's state visit to the UK by King Abdullah, the dictator of Saudi Arabia. Campaign Against Arms Trade (CAAT) yesterday repeated its call for the reopening of the Serious Fraud Office investigation into the Saudi regime's arms deals with BAE Systems. Gordon Brown has also been reminded of his statement last month that 'human rights are universal', in the context of the Saudi regime's frequent use of torture and violent suppression of political and religious dissent.. ..Abdullah will be met by a peaceful demonstration organised by CAAT when he arrives in the UK on the morning of Tuesday 30th October. His visit will last until Thursday 1st November. He will stay at Buckingham Palace.." [more]

2nd Saudi Insurance Summit [Oct 26]
"IIR is pleased to present to you the 2nd Saudi Insurance Summit, the premier annual insurance event for Saudi Arabia, taking place at the Jeddah Hilton Hotel on 28 – 31 October 2007. The Saudi Arabian insurance industry is experiencing considerable expansion. The Saudi Arabian Monetary Agency (SAMA) continue to develop the insurance industry through market liberalisation, with the central bank approving 26 local and foreign insurance companies to launch operations in the Kingdom and 10 applications under review. Many believe the new laws and new licensed companies will boost confidence in the industry by curbing the activities of unlicensed companies and some are predicting a double in insurance market turnover over the next five years.." [more]

Domestics hired from Nepal and Vietnam [Oct 26]
"Following the recent obstacles of recruiting housemaids from Indonesia and the Philippines, Saudi Arabia is now looking for other options. Recruitment of housemaids from Nepal and Vietnam is what local recruitment offices are currently involved in.. ..In the past, recruitment advertisements were dominated by Indonesia and the Philippines. Earlier, the Indonesian authorities, in a move to improve the conditions of housemaids working in the Kingdom, asked among other conditions, for the increase of monthly salaries of housemaids.." [more]

Haj Housing Revenues Top 1.5b Riyals [Oct 26]
"Revenues generated from housing services during last year's Haj amounted to more than 1.5 billion Saudi riyals, a recent economic study shows. So far, official Haj missions from Islamic countries as well as tourism companies involved in the Haj have rented more than 7,000 buildings in Makkah, well before this year's pilgrimage starts in less than two months.. ..Dealers in Haj housing services estimated that rates in luxury hotels per person in the central area will be as much as 7,000 riyals. In towers and other buildings, the rates will be 2,000 to 4,000 riyals, but the rates for one person in areas far from the Haram may be as low as 1,000 to 1,500 riyals.." [more]

GCC Finance Chiefs, Bank Governors to Meet Amid High Inflation, Weak Dollar [Oct 26]
"The Gulf Cooperation Council (GCC) ministers of finance and economy and central bank governors will hold their 74th meeting here tomorrow and are scheduled to review a number of topics pertaining to joint economic cooperation, SPA news agency website said yesterday. The meeting comes amid surging inflation in the region, which analysts say are due to weak dollar, among others. Observers said that the meeting will also touch on the timetable for a single currency plan which has been dragging on for some time.. ..Apart from Kuwait, the Gulf states agree that allowing their currencies to appreciate against US is not an option for now. At the last meeting of central bank governors in Saudi Arabia last month, they could agree about little else. The six said they would fashion separate responses to any US interest rate cut.." [more]

Kingdom OKs Formation of New Mining Company [Oct 26]
"Arabian American Development Co. yesterday said that it has received official notification from Saudi Arabia’s Ministry of Commerce and Industry approving the formation of the Al-Masane Al-Kobra Mining Company. In a statement carried by Reuters, the president and CEO of Arabian American Hatem El-Khalidi said the approval is to be published in the Official Gazette. Hatem El-Khalidi, president and CEO of Arabian American, said the Saudi government’s approval in 'the formation of the joint stock company reinforces our belief that the project will be good for the growth and diversification of the Saudi economy and good for the shareholders of Arabian American Development Co.'.." [more]

Forum on Water, Power to Take Place in Jeddah [Oct 26]
"Issues related to water and power will be discussed in-depth at the Saudi Water and Power Forum (SWPF) scheduled in Jeddah on Nov. 3-6. This is a strategic conference being held with the support of Makkah Governor Prince Khaled ibn Faisal, Dr Bakr ibn Hamza Khoshaim, member of the Shoura Council and a steering committee member of the forum, told a press conference at the Jeddah Hilton. The forum assumes importance as Saudi Arabia is by far the largest water and power market in the Middle East with over $200 billion investment required by 2020. The SWPW will bring over 500 top-level Saudi and international delegates together to discuss the huge requirements for investment in the Kingdom’s water and power sectors.." [more]

Two-state Solution in Mideast in Jeopardy: Rice [Oct 25]
"US Secretary of State Condoleezza Rice says a 'two-state solution' in the Middle East is in jeopardy and only a narrow window of opportunity remains to push Israel and the Palestinians toward peace. In a House of Representatives hearing interrupted by anti-war protesters, Rice said Wednesday that a peace conference planned for Annapolis, Maryland, is needed to give hope to moderate Palestinian forces. She blamed Iran for fanning flames in the region, including what she called 'troubling' new support for Hamas militants.." [more]

Bush Joins Fight to Break Breast Cancer Silence [Oct 25]
"In a very amiable setting, US first lady Laura Bush had coffee yesterday with a group of Saudi breast cancer survivors and medical volunteers at the residence of the US consul general.. ..Through the mediation of Dr. Samia Al-Amoudi, 49, Arabic-speaking women were able to converse with Bush and convey their remarks and greetings to her. Al-Amoudi, assistant professor at King Abdulaziz University, chose to break the silence about her battle with breast cancer after being diagnosed in April 2006.. ..At the end of the meeting, the group presented Bush with a humble gift as an appreciation of her support and visit. They gave her a traditional scarf and abaya with a pink ribbon that is regarded worldwide as an international symbol for breast cancer. Bush wore the scarf and happily said, 'We have sisterhood more than we’ve thought between American and Saudi women.'.." [more]

Saudi to Open Up Bourse: Sabic Chief [Oct 25]
"Saudi Arabia will open its stock market to foreign investors, giving them direct access to companies in the biggest Arab economy, the chief executive officer of Saudi Basic Industries Corp said. 'It will happen,' Mohamed al-Mady told reporters in Duesseldorf yesterday, without providing a date for the regulatory change. 'Our stock market is in its infancy, and to ecome more mature we need to get international exposure.'.. ..Allowing foreign investors to trade Saudi shares would 'mean better analysis and better forecasts,' al-Mady said.." [more]

IMF Says Saudi Riyal Undervalued [Oct 25]
"The executive board of directors of the International Monetary Fund (IMF) has said that the Saudi riyal appears to be moderately undervalued at present. Many directors see this as a transitional phenomenon “reflecting the positive terms-of-trade shock.” Several other directors considered that the riyal is broadly in line with fundamentals.The IMF directors also considered that the current pegged exchange rate regime has served the economy well, although a few directors were of the view that a more flexible exchange rate would help reduce fluctuations in the face of oil price volatility.." [more]

Saudi Arabia Bans Forbes Issue Over King's Wealth [Oct 25]
"Saudi Arabia has banned the latest issue of the Arabic-language edition of Forbes magazine for an article about the wealth of the king and other Arab leaders.. ..Saudi authorities have ordered columns by Khalid al-Dakhil, a prominent Saudi analyst and university lecturer, to be ripped out of Forbes Arabia twice so far this year. Authorities in the conservative kingdom also tear out pages from newspapers and magazines before they hit newsstands if they contain pictures deemed indecent.." [more]

Saudi Women Have Right to Practice Law [Oct 25]
"Saudi women have the right to practice the legal profession, said Minister of Justice Dr Abdullah Bin Mohammad Al Shaikh. However, he noted that the issue is still being studied by a specialised committee comprising several departments, including the Ministry of Justice. Some legal firms in the kingdom employ female lawyers, but women are not granted licences to operate their own legal offices.. ..Saudi Arabia will allocate 7 billion riyals (about Dh6.8 billion) to develop the judiciary. The process aims to upgrade the courts and their buildings and other infrastructure, provide better facilities as well as employ qualified cadres and provide on the job training.." [more]

Naif Gives Call to Save Iraq [Oct 24]
"Interior Minister Prince Naif yesterday called for intensive efforts to save Iraq from its present predicament and to stand firm against destructive forces.. ..Prince Naif refuted suggestions that the meeting was aimed at protecting the interests of Iraq’s neighbors rather than Iraq. 'All countries meeting here are deeply concerned with the situation in Iraq as we are linked with the bond of brotherhood and faith,'.. .. The conference, which was the fourth of its kind, discussed how to help Iraq get out of its present security difficulties. It also focused on ways of countering terrorism and curbing smuggling and infiltration across the border.. ..Prince Naif said the terrorist groups in Iraq were harming Islam and Muslims. 'Muslims have already realized this fact and enlisted them among their enemies.'.." [more]

World Economic Forum Studies the Future of Saudi Arabia [Oct 24]
"The World Economic Forum today launched its latest scenario study, The Kingdom of Saudi Arabia and the World: Scenarios to 2025, a set of scenarios looking at three possible and plausible futures for Saudi Arabia. These scenarios examine potential shifts across economic, environmental, social, political and technological spheres and offer challenging visions designed to test strategy, open up dialogue, and offer insight into important factors affecting Saudi Arabia and the broader region between today and 2025.. ..'As one of the largest economies and a key political player in the region, Saudi Arabia has a critical role in determining the future of the Middle East, if not the world. It is very important that businesses, politicians and community leaders understand the forces at play within the Kingdom and appreciate both the dynamics of the country and the range possible futures that may evolve,'.." [more]

Breast Cancer Doesn’t Respect Borders: Laura [Oct 24]
"Saudi Arabia and the United States signed here yesterday a strategic partnership agreement that brings together breast cancer experts and awareness advocates from the two countries in a new war against breast cancer.. ..'Breast cancer does not respect national boundaries, which is why people from every country must share their knowledge, resources and experience to protect women from this disease,' Bush said. 'The cure for breast cancer can come from a researcher in Washington or a young doctor in Riyadh,' she added.. ..The US first lady said the partnership would not only build bridges of friendship between the United States and Saudi Arabia, but also help women in the Kingdom and the Middle East to fight the disease.." [more]

Clark Appeal Fails as Saudi Man Executed [Oct 24]
"Saudi Arabian authorities tonight confirmed a man Prime Minister Helen Clark had made an urgent appeal to save from execution had been beheaded. Hadi 'Ali Suliaman, whose brother lives in New Zealand, was executed in the southern city of Najran, according to an interior Ministry statement carried by the official Saudi Press Agency (SPA). Hadi 'Ali Suliaman was convicted of injuring a guard when he opened fire on a truck carrying prisoners, the ministry said. SPA said he was trying to help a prisoner escape from the truck when he shot the security guard. It was not clear when the attack took place and whether the prisoner managed to escape.. ..A spokesperson for Miss Clark said she made a personal appeal for Hadi 'Ali Suliaman because his brother lived in New Zealand and the Government's stance against the death penalty.." [more]

Saudi Arabia Urges Pervez Musharraf to Call Back Nawaz Sharif [Oct 24]
"King Abdullah of Saudi Arabia is pressing President Pervez Musharraf to allow former Prime Minister Nawaz Sharif to return to Pakistan before the general elections, highly placed intelligence sources have said. They further said that King Abdullah communicated this appeal to Musharraf on October 15. Musharraf told the Saudi monarch that Sharif and his brother Shahbaz should only return after the general elections, sources added. He, however, said Sharif’s wife, Kulsoom Nawaz, could return to Pakistan immediately. The Saudis made the request after Bhutto insisted on returning to Pakistan. The Saudis are said to be mulling over Musharraf’s request.." [more]

Saudi Arabia's Network Readiness Falls Behind [Oct 24]
"Saudi telecom's is seen internally as a growth sector, with the market open to competition from rival operators and the end of the monopoly that Saudi Telecom Company (STC) long enjoyed. But the Saudi Arabian networks infrastructure remains a thorny issue that requires swift action. In the sixth Global Information Technology Report 2006-2007, recently issued by the World Economic Forum (WEF), Saudi Arabia was dropped from the list of the most advanced countries in IT and telecoms.. ..The WEF report stated that Saudi Arabia's poor infrastructure slowed down the kingdom's movement and made it unable to catch up with other developed countries. According to the report, Saudi Arabia lacked network readiness to leverage its IT growth.." [more]

HP Ends Local PC Assembly in Middle East [Oct 24]
"HP will no longer assemble desktop PCs at its plant in Saudi Arabia from the end of December following a review of its supply chain arrangements in the Middle East. The move means desk-based products will now be supplied into the region from Eastern Europe and the Far East using HP's standard distribution set-up. The vendor says its decision to stop PC assembly in the Kingdom has been taken on the basis of a shift in market demand from desktops to mobiles, and revisions in GCC customs rules which reduce the economic benefits of assembling locally.. ..Recent changes to customs duty regulations have also had a major influence on HP's decision to bring the curtains down on the plant. Earlier this year, Saudi Arabia rendered certain computer products exempt from import tax as part of the unified customs tariff reported to be adopted by other GCC states, thereby eradicating the tax-advantage that companies such as HP gain from assembling in-country.." [more]

SAGIA Presents Investment Potentials to Finnish Group [Oct 24]
"Governor of the Saudi Arabian General Investment Authority (SAGIA) Amr Al-Dabbagh met with Finland President Tarja Halonen and her accompanying business delegation in Jeddah yesterday to discuss potential areas of investment for Finnish corporations in Saudi Arabia’s six economic cities.. ..The governor made clear to the Finnish president the Kingdom’s keenness on resolving problems in the investment sector to attract foreign investment opportunities through the cooperation of concerned government bodies.Fahd Al-Rashed, deputy governor of SAGIA for economic cities, said the Saudi-Finnish meeting was a rich opportunity for both sides to discuss areas of future possibilities in investment.." [more]

SABIC Shares Pull BMG Index Down [Oct 24]
"The BMG Saudi Index saw another decline this week after the drop in the index on Sunday, closing down yesterday’s session at 445.01 points, losing 0.7 percent from its previous close at 448 points. The market turnover, however, continued to move ahead and reached SR3.6 billion ($950 million), increasing by 11 percent from Monday’s turnover.. ..Thirteen stocks in the BMG Index closed on a negative note, while 10 increased and 7 remained inactive.. ..SABIC went down by 1.2 percent to close at SR140.25 per share, pulling the index downward accordingly.." [more]

Laura Bush Launches Breast Cancer Awareness Campaign in Saudi [Oct 23]
"US first lady Laura Bush arrived in Saudi Arabia on Tuesday as part of a Middle East tour to promote awareness and treatment of breast cancer.. ..A US-Saudi partnership agreement to promote awareness, early screening of breast cancer and joint cancer research will be signed on Tuesday, Saudi official sources told Deutsche Presse-Agentur dpa. The partnership, the first of its kind for both countries, will increase cooperation between their medical institutions. The institutions involved are the King Fahd Medical City, Saudi Cancer Society in the kingdom and the MD Anderson Cancer Centre and Susan G Komen Breast Cancer Foundation in the US.." [more]

Saudi Shura Council Calls for Wage Hike [Oct 23]
"A committee of Saudi Arabia's advisory Shura Council has recommended a national wage increase to cushion employees from inflation, which hit a seven-year high in August, two council members said on Monday.. ..Although not binding, the committee's recommendations are a sign of growing pressure on the authorities and the central bank, which is torn between containing inflation and preventing an appreciation of the dollar-pegged riyal currency.. ..The committee's opponents argued that a 15 percent public-sector wage increase in 2005 was partly responsible for driving up inflation, he said. Many private sector employers in the kingdom of 24 million people did not match that increase.." [more]

Gulf Security Chiefs Warn of Dangers [Oct 23]
"Security chiefs of the Gulf Arab states kicked off a meeting in Kuwait yesterday by warning of the risks of fallout from regional events especially in Iraq. 'Events in Iraq require us to make effective and strong moves to deter risks that may reach us,' the head of Saudi Public Intelligence, Prince Mugren bin Abdulaziz, who chaired the meeting, told the opening session. 'Such moves must be carried out through co-ordinated practical steps and in accordance with fast mechanisms, because slow implementation ... is not in the interest of our national security'.. ..The meeting was decided on at a July session in Riyadh of Gulf defence and foreign ministers, as well as intelligence chiefs, to co-ordinate strategy and counter fallout from the Iraq war and Iran’s nuclear standoff with the West.." [more]

Saudis to Get 10-year UK Visa [Oct 23]
"Saudi nationals traveling to the UK will now get 10-year visas for a fee of SR1,600. Visas will be issued within 24 hours if all required documents are submitted, said Andrew Turner, Deputy Head of Mission, British Embassy.. ..There has been a 15 percent increase in the UK visa applications received at British Embassy here during the first three quarters of this year compared to 2006, said Turner. He also said the British Embassy processed a total number of 36,000 applications (27,000 for Saudi nationals) between January and September this year compared to the same period in 2006. He added that the 15 percent increase in the UK visa applications also included a sizable number of Saudi students and tourists.." [more]

Abdullah, Halonen Discuss Major International Issues [Oct 23]
"Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with Finnish President Tarja Halonen on major regional and international issues, focusing on ways to strengthen bilateral cooperation in all areas, the Saudi Press Agency said. During the meeting, King Abdullah conferred on President Halonen the King Abdul Aziz Medallion, which is awarded to heads of state and world leaders. The Finnish president reciprocated by awarding King Abdullah her country’s top medal, the Order of the White Rose.. ..Finland is among the highest exporters of mobile phones to Saudi Arabia. The Kingdom imported nearly five million mobile phones worth SR3 billion from the country in 2005. Saudi Arabia exports petrochemicals to Finland for the manufacture of plastic products. Halonen is accompanied by a large delegation of Finnish businessmen led by Ole Johansson, CEO and president of the Finnish company Wartsila.." [more]

Saudi Basic Industries to Close $6 bln Debt Deal by Year's End [Oct 23]
"Saudi Basic Industries Corp. expects to close a $6 billion debt deal by the end of the year to finance the expansion of Saudi Kayan Petrochemicals Corp. affiliate, a company official said Tuesday. Mutlaq Al Morished told Zawya Dow Jones in a phone interview that the company, known as Sabic, planned to complete the financing by early next year at the latest. ABN Amro, HSBC, Arab Banking Corp., Samba and BNP Paribas to manage the debt portion of the financing. The debt financing is expected to close at the end of the second quarter. The giant Saudi Kayan petrochemicals complex, based in Jubail, will have an annual production capacity of around 5.6 million tons of petrochemical and chemical products when it comes on stream in 2010.." [more]

Multi Billion Dollar Saudi IPOs Outperform Region [Oct 23]
"Saudi Arabia looks set to continue to outperform the rest of the Middle East in stock market flotations, in spite of a general downturn in the Arabian Gulf, according to analysts. All aspects of the most active initial public offering (IPO) market and largest economy in the Middle East - Saudi Arabia - come under the spotlight at the 2nd Saudi IPO Summit that takes place from 10-14 November 2007 at the Four Seasons Hotel, Riyadh, with the patronage of HRH Prince Salman Ibn Abdul Aziz Al Saud, Governor of Riyadh. On average, newly listed Saudi shares have appreciated fivefold after listing.." [more]

Shoura Panel Holds Ministry Responsible for Camel Deaths [Oct 23]
"The Shoura Council yesterday held the Ministry of Agriculture responsible for the deaths of over 2,000 camels in Saudi Arabia over the past few months..In order to avoid criminal activity or foul play, the committee recommended that a government company supervise the production and distribution of camel fodder. It also recommended that fodder be manufactured according to the specifications of the Saudi Arabian Standards Organization. According to the Agriculture Ministry findings, contaminated fodder, rather than diseases, was blamed for the death of 3,000 camels, cows and goats in different parts of the Kingdom. The results of tests sent to laboratories in Europe showed that camels were fed on contaminated fodder, which contained salinomycin — a compound to which camels are highly allergic.." [more]

BMG Saudi Index Recovers [Oct 23]
"The BMG Saudi Index switched in terms of performance again on the third day of trading this week to gain 7.77 points, recovering from Sunday’s 0.56 points loss, after Saturday’s gain. The index closed in yesterday’s session at 448.6 points, advancing by 1.8 percent compared to Sunday’s session, and also exceeding Saturday’s closing level of 441.39 points, the best closing level achieved since March 2007. The market turnover also moved ahead, and all of this pushed the index up and also increased overall turnover by SR287 million, or 44.6 percent, to reach SR3.2 billion ($856 million).." [more]

Laura Bush Starts Mideast Trip to Fight Cancer [Oct 22]
"US First Lady Laura Bush arrived in Abu Dhabi on Sunday at the start of a Middle East tour to highlight the fight against breast cancer. Wearing a pale blue trouser suit, Bush was greeted on her arrival at the airport by UAE Economy Minister Lubna al-Qassimi, the first woman minister in the conservative desert state. In addition to the United Arab Emirates, Bush is scheduled to visit Saudi Arabia on Tuesday, Kuwait on Thursday, and Jordan on Friday.. ..The UAE and Jordan were the first countries in the region to join the US-Middle East Partnership for Breast Cancer Awareness and Research, and Saudi Arabia is due to formally join the effort during Bush's trip.." [more]

Finland President Halonen Arrives on Landmark Visit [Oct 22]
"President Tarja Halonen arrived last evening on the first official state visit by a Finnish head of state to Saudi Arabia. The president is expected to meet Custodian of the Two Holy Mosques King Abdullah today in Jeddah at the beginning of her three-day visit. Halonen will also meet Crown Prince Sultan as well as other Saudi officials. 'The visit is to deepen and enlarge bilateral relations between the two countries,'.. ..Diplomatic relations between Finland and Saudi Arabia were officially established in 1969. Finland opened its embassy in the Kingdom in Jeddah in 1974. The embassy was then moved to Riyadh in 1985. According to a senior official from the Ministry of Foreign Affairs in Finland, Saudi Arabia is planning to open an embassy in Finland’s capital, Helsinki, following the president’s visit.." [more]

Saudi Ready to Boost Oil Production [Oct 22]
"France's Finance Minister has said that Saudi Arabia has indicated its readiness to boost crude production if it would help meet demand. Christine Lagarde made the remark after meeting Saudi officials on the sidelines of the International Monetary Fund and World Bank's annual meeting on Saturday, reported Forbes. Speaking to the media, she said that Saudi Arabia's confirmation that more crude reserves are available to supply any future demand is promising.. ..The agreement reached at the OPEC meeting on September11 to boost output by 500,000 bpd as of November 1, was a victory for Saudi Arabia.." [more]

Saudi Tadawul to Sell Part of Its Shares [Oct 22]
"Dr. Abdul Rahman Al-Tuwaijeri, chairman of the Capital Market Authority (CMA), on Saturday disclosed plans to transform the Saudi bourse into a joint stock company and sell part of its shares through an initial public offering. 'We have already completed formation of Tadawul's board of directors and a proposal in this regard has been presented to the Council of Ministers for approval,' he said. Speaking to reporters on the occasion of the launch of the new trading system in Riyadh, Tuwaijeri said the new system would meet the market's future requirements.." [more]

Makamin, Shengly in Oil Venture [Oct 22]
"Makamin, the newly established SR1.2 billion oil and gas service company, has announced that it will compete with foreign companies not only in oil exploration and drilling but also go into the manufacture of equipment and spare parts required by the sector. 'Our company will also engage in marine drilling operations. Our feasibility studies have shown that there is a huge potential for onshore and offshore drilling, since the demand for oil has been growing dramatically,' Usama Al-Kurdi, member of the Shoura Council and board member of the Makamin, told Arab News. He said the company has concluded a strategic alliance agreement with Shengly Oilfield Co., one of the subsidiaries of China’s Sinopec, a major oil company. This agreement makes them partners in the operations at Makamin.." [more]

Saudi King Breaks Ground for New Coed University [Oct 21]
"King Abdullah laid the cornerstone Sunday for a new coed science and technology university the government hopes will attract students from around the world.. ..KAUST will be the first public university in the kingdom to educate both male and female students. Saudi Arabia has long enforced a strict Islamic lifestyle in which men and women are segregated in public, including at schools, universities, restaurants, lines outside international fast food outlets and bank branches catering to customers. Currently, there is only one private coed university in the country.." [more]

UN Report Ranks Saudi Arabia 20th on List of Attractive FDI Destinations [Oct 21]
"Saudi Arabia topped the list of most attractive foreign direct investment (FDI) destinations in the region by receiving $18 billion last year, an increase of 51 per cent over 2005, said a recent report. This puts the Kingdom in 20th position in the world in terms of attracting foreign investment, said a report released by the United Nations Conference on Trade and Development (Unctad). The Kingdom topped the Middle East and the Arab countries in terms of attracting FDI.. FDI into the Middle East amounted to $60 billion with Turkey and Saudi Arabia getting more than 60 per cent, the report said.." [more]

It's OK For Saudi Women Not to Drive [Oct 21]
"Nawal Al Shalhoub, wife of the Saudi Consul General in Dubai, said during a panel discussion about women and public affairs that she did not think it necessary for Saudi women to drive as they have full rights.. ..Nawal, who has lived in Dubai for 10 years and drives her own car, says it is OK for her not to drive in Saudi Arabia.. ..Nadine Al Bedair, a Saudi presenter and producer of Al Hurra TV, who was in the audience at the Emirates Towers, responded: 'She doesn't have the right to speak on behalf of all Saudi women who don't have any social or political rights. It's humiliating to say that.'.. ..'I don't have one single political right, I can't be promoted to any high position in the public or private sectors, I can't study, work and marry without written approval from my guardian.' Women are treated as incomplete people, she said.." [more]

Turkey's Foreign Minister Makes Unexpected Visit to Saudi Arabia [Oct 21]
"Turkey's Foreign Minister Ali Babacan made an unexpected visit to Saudi Arabia on Sunday — the third Arab country he has visited since the Turkish parliament authorized the government to send troops into northern Iraq to hunt down Kurdish rebels. Babacan was met by his Saudi counterpart, Prince Saud.. ..Babacan said his country was drawing up a plan to send troops into northern Iraq to fight Kurdish guerrilla groups after long attempting to work with the U.S. and Iraqi governments to resolve the problems of Kurdish guerrillas who use northern Iraq as a rear base to attack Turkish territory.." [more]

Saudi Arabia: Embassy Spokesmen Refutes Religious Textbooks Criticisms [Oct 21]
"The Saudi embassy in Washington has refuted the contents of a report by the U.S. Commission on International Religious Freedom which criticized what it called the promotion of religious extremism in Saudi-run schools, particularly the Islamic Saudi Academy, which operates two campuses in Fairfax Virginia.. ..Dr Abdul-Muhsin Ilyas, deputy director of the Saudi Media Office, told Asharq Al-Awsat, "I can absolutely confirm that all textbooks at the academy do not include contents that offend any religion. We extend an open invitation to all US and non-US media to visit the academy, verify the validity of this, and closely examine the subjects that are taught and also the books used by the students.." [more]

Saudi Arabia Not to Review Money Peg [Oct 21]
"Saudi Arabia is not considering or revaluing its currency or moving away from its dollar peg, Finance Minister Ebrahim Al Assaf said here yesterday. Amid speculation that the Kingdom will abandon its currency peg due the dollar's steep fall, the Saudi minister told Washington-based Emerging Market magazine. 'The riyal's exchange regime has served, and continues to serve, the economy so well and there is no need for any change at this time'. The riyal has been pegged to the dollar since 1986, at 3.75 to the dollar. But in late September hedge fund buying in the forward market, on speculation about a possible revaluation, pushed the Saudi currency to a 21-year high of 3.735.." [more]

Saudi Inflation Hits Expat Savings [Oct 21]
"Millions of expatriates in Saudi Arabia, home to the largest number of Indian workers, are facing myriad of economic difficulties like costlier remittances, increased house rents and prices of essential items. 'Things have become difficult for the average expatriate, as there is a general price rise,' Abdul Karim Ismail, one Indian executive, said.. .. rising house rents have also been a cause of concern for expats in Saudi Arabia. Every household has been affected by higher food prices.." [more]

Sharif Delays Homecoming Following Pressure from S Arabia, US [Oct 21]
"Former prime minister Nawaz Sharif has bowed to pressure from Saudia Arabia and the US to defer his return to Pakistan from exile till November 7.. ..Sharif, who was deported to Saudi Arabia barely hours after he flew into Islamabad after seven years in exile on September 10, has given his word that he will not leave Saudi Arabia till November 7 and asked Pakistani and Saudi officials not to compel him to defer his homecoming any longer.." [more]

Saudi to Take on Danes in Insulin Market [Oct 21]
"Two years back, the Danish newspaper Jyllands-Posten published 12 controversial cartoons of the Prophet Mohammed that led to a mass boycott of Danish products by Muslims in almost all Islamic countries. The boycott, however, had opened the eyes of many Muslims to a new bitter reality: The major human insulin supplier to the Muslim world is a Danish company.Two years later, a Saudi private company is trying to break the dominance of the Danish insulin maker, Novo Nordisk, over the Muslim country by introducing locally produced insulin. The board of the Jeddah-based Islamic Development Bank (IDB) agreed to finance a Saudi insulin manufacturing plant that is to be built jointly with leading Brazilian biotechnology firm Biomm.." [more]

Saudi Stocks Jump 2.55% in New Trading System [Oct 21]
"The Saudi stock market jumped 2.55 percent as the Tadawul successfully launched the new trading platform yesterday. The Tadawul All-Share Index (TASI) made its biggest one-day gain in more than 15 weeks to close above 8,000 points. The index rose 202.16 points to 8,114.61. According to the information available on the Tadawul website, the transition to the new system was very smooth and active trading took place on the first day of its operation. Links with the banks/brokerage firms and data vendors were functioning normally without any disruptions. 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]

Gulf States to Decide on Monetary Union This Month [Oct 21]
"The Gulf Cooperation Council (GCC) will decide on a new target deadline for the monetary union by the end of this month, according to senior GCC officials.. ..Following the Gulf central bank governors' meeting in Saudi Arabia in September, the Saudi Central Bank Governor Hamad Saud Al Sayyari said a monetary union among the Gulf states will be difficult to achieve by the 2010 deadline and the central banks have agreed to deal with the inflation problem separately.." [more]

We Want KAUST to Reach MIT Level [Oct 21]
"Nadhmi A. Al-Nasr, the dynamic young interim president of the SR10 billion King Abdullah University of Science and Technology (KAUST), envisions the new research-based institution as a catalyst for creating a knowledge economy in Saudi Arabia — which is a long-standing dream of Custodian of the Two Holy Mosques King Abdullah himself. Al-Nasr said in an exclusive interview with Arab News yesterday that KAUST will be a graduate-level research institution instead of an undergraduate one. “It is the vision of King Abdullah to have this university as a turning point in higher education,” he said. 'Hopefully, it will act as a catalyst in transforming Saudi Arabia into a knowledge economy, by directly integrating research produced at the university into our economy.'.." [more]

The SUSRIS project -- an independent, private-sector information resource - offers objective, comprehensive news and information on the history, breadth and depth of the US-Saudi Arabia relationship.
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