Saudi-US Relations Information Service

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Saudi Minister Discourages Citing Dollar [Nov 17]
"..Oil is priced in dollars on the world market, and its depreciation has concerned oil producers because it has contributed to rising crude prices and has eroded the value of their dollar reserves. Cartel officials have resisted pressure to increase oil production to ease prices. 'The reality is that we have this problem. I think we should draft the declaration to reflect our concerns,' Iranian Foreign Minister Manouchehr Mottaki said during a pre-summit meeting here with fellow ministers from the Organization of Petroleum Exporting Countries. But Saud al-Faisal, foreign minister of U.S. ally Saudi Arabia, came out against the proposal with unusually frank comments. 'In my feeling, the mere mention that the OPEC countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries,' he said. 'We all should be worried if any action that we take will lead us to do some injury to our returns on our product.." [more]

Saudi Arabia Works the Vast Desert To Pump Out More High-Quality Oil [Nov 17]
"..Next year, Saudi Aramco, the state oil company, plans to boost production by 250,000 barrels a day, one step in an effort to expand the kingdom's oil-production capacity to 12.5 million barrels a day from the 11.3 million barrels.. ..The expansion plan is a reminder of just how vast Saudi oil reserves are and how little exploration is needed to maintain output. Last year, according to Saudi Aramco's annual report, the state-owned oil firm drilled just 13 exploration wells. In the United States, oil companies drilled 4,005 exploration wells.." [more]

Saudi Arabia in Focus as Oil Moves to the Top of the Agenda [Nov 17]
"..as the G20 ministerial gets underway in a sunny corner of the Western Cape. The heat of their collective gaze will be on Saudi Arabia's finance minister, Ibrahim Abdulaziz Al-Assaf, who is representing the world's biggest oil producer. After all, the Arab Kingdom is seen as wielding enough power in OPEC, the cartel of oil producers, to bring about some change. And, to make matters just a touch more interesting, OPEC is at the same time having its summit in the Saudi capital, Riyadh.." [more]

Saudi Arabia May Order 24 Eurofighter Jets [Nov 17]
"Saudi Arabia could order 24 Eurofighter Typhoon combat jets from BAE Systems for about 1.5 billion pounds ($3.06 billion), the Middle East Economic Digest (MEED) reported on Friday. Saudi Arabia and Britain announced in September a 4.43 billion pound deal for 72 of the Eurofighters. 'The kingdom is set to decommission a number of aircraft and is thinking about a possible order for 24 more Eurofighters,' MEED quoted an adviser to the Saudi government, that it did not identify, as saying. 'There is a need for new aircraft given the situation in the region, particularly the issue of Iran,'.." [more]

Thousands of Chickens Die in Saudi [Nov 17]
"Around 90,000 chickens died at two farms in Saudi Arabia following a bird flu outbreak, Agriculture Minister Fahd Balghnaim was quoted as saying yesterday. Balghnaim did not confirm that bird flu was the cause of death. But the deaths occurred one day after his ministry announced that 50,000 birds were culled at a poultry farm in Al Kharj, 80km south of Riyadh, after the deadly H5N1 strain of bird flu was detected there. The minister said around 50,000 chickens died in a farm in Al Mazahmiyah, about 80km west of the capital, and another 40,000 died at a nearby farm.. ..Saudi Arabia banned all live poultry imports after bird flu was last detected in the kingdom in March. In April, neighbouring Kuwait culled 1.7mn birds after the strain was found. There are no reports of the disease spreading to humans in either country.." [more]

Saudi Envoy asks Canada to do More for Mideast Peace [Nov 16]
"Saudi Arabia's ambassador yesterday called on Canada to take an active role in resolving persistent problems in the Middle East -- notably the Israeli-Palestinian conflict -- that are fuelling terrorism and instability.. ..Abdulaziz Al-Sowayegh noted that Canada has great credibility in the region. Because of its history of peacekeeping, its lack of colonial history and its support for developing nations, 'everyone really looks at Canada with respect and admiration,'.. ..He said the most important thing Canada could do is support the implementation of United Nations resolutions on the Arab-Israeli conflict, including demands for Israeli's withdrawal to its 1967 borders.." [more]

Output Hike May Not Cool Prices: Opec [Nov 16]
"Oil prices would probably not fall even if Opec raises production when it meets in Dec-ember, since the market is being supported by factors other than supply, the oil minister of Algeria said on Thursday.. ..Oil ministers have made clear they will not discuss output policy at the heads of state summit now under way in Riyadh, adding that they believe factors beyond Opec's control - such as speculation and geopolitical anxiety - are driving prices.. ..Opec officials at a summit of the producer group said there was no easy way to crack down on speculators whom they blame for sending oil prices to a record high near $100 a barrel.." [more]

Kingdom Ready to Invest in CO2-Reducing Technology [Nov 16]
"Minister of Petroleum and Mineral Resources Ali Al-Naimi joined other delegates at the OPEC Ministerial Council meeting yesterday in calling for greater efforts to reduce CO2 emissions and invest in new technology to curb environmental pollution. Al-Naimi was chairing a session on climate change on the second day of the Ministerial Council meeting ahead of the two-day OPEC summit that opens tomorrow.. ..On environmental pollution, the minister said: 'Since fossil fuels are going to be around for some time, we need to develop technology to reduce carbon emissions. We are all called upon to address the climate-change concern and find a balance that is a possible, comprehensive and cost-effective solution.. ..Saudi Arabia is willing to participate in any such project.'.." [more]

Rape Victim's Harsh Sentence Shocks Saudis [Nov 16]
"A Saudi court has more than doubled the number of lashes that a female rape victim was sentenced to last year after her lawyer appealed against the original sentence. The decision, which many lawyers found shocking even by Saudi standards of justice, has provoked a rare public debate about the treatment of women. The victim's lawyer, Abdul Rahman al-Lahem, a human rights activist, drew the court's ire because of his strong public criticism of the handling of the case. He has called his client's conviction unjust and said the sentences of the seven men who raped her were too lenient.. ..Mr Lahem's licence to practice law has been suspended and he is facing a hearing before a Ministry of Justice disciplinary committee on December 5 in Riyadh for appearing regularly on television and talking about the case. Judges of the Qatif General Court have accused him of trying to tarnish the court's image by talking to the media.." [more]

GCC Urged to Revalue Currencies [Nov 16]
"A revaluation of the GCC currencies is needed now and the region should begin preparations to shift their currencies away from the dollar peg to a basket of currencies with which the Gulf trades, a report released recently by Standard Chartered Bank revealed. The report titled 'Thought Leadership', emphasized that this shift in currency policy is needed not only to reflect the present vulnerable state of the dollar.. ..The report also looked in detail the Gulf’s condition in terms of the three Ds, i.e., diversification, demographics and the dollar.." [more]

JEF 2008 to Boost Kingdom’s Industrial, Service Awareness [Nov 16]
"Some 35 political leaders, economists and heads of multinationals companies from 22 countries have expressed their desire to participate as speakers in the 2008 Jeddah Economic Forum to be held on Feb. 23-26, Sami Bahrawi, president of the forum, said. They are expected to present 24 working papers as well.. ..The two sessions on the first day would discuss 'Kingdom’s New Development Vision' and 'the Economic Cities,' and the second day’s meetings would focus on 'the Energy' and 'Government — Private Cooperation'. The last day’s sessions are set for “From Boom to Affluence” and 'Industry and Technology,' Bahrawi said.." [more]

US Image in Middle East [Nov 16]
"Most Americans think that our role as a world power began with World War II, the “good war,” and then continued with the similarly noble Cold War. We like to think that the United States acts in the world exclusively in the name of ideals such as freedom and democracy. So it may come as a bit of a shock to learn that the United States has had an uninterrupted military presence in the Middle East for 65 years, dating to 1942. Most Americans would also bristle at the idea that this presence, from the arrival of GIs in North Africa onward, has essentially become a continuation of nearly a century and a half of European military adventures in the region.." [more]

Kingdom, Yemen Urge Diplomatic Solution to Iran Standoff [Nov 15]
"Saudi Arabia and Yemen yesterday called for a diplomatic solution to the nuclear standoff between Iran and the West. They also urged Tehran to comply with UN Security Council Resolutions 1696, 1737 and 1747 and cooperate with the International Atomic Energy Agency. In a final communiqué issued by the Saudi-Yemeni Coordination Council, the two countries emphasized that Israel must join the nuclear nonproliferation treaty and give international inspectors access to its nuclear facilities in order to keep the region free of weapons of mass destruction.." [more]

Saudi Culls 50,000 Birds After Bird Flu Found [Nov 15]
"Saudi Arabia has culled 50,000 birds at a poultry farm near the capital of Riyadh, which were found to have a deadly strain of bird flu, Saudi media reported on Thursday.An agriculture ministry statement carried by newspapers said the birds were culled at the farm in al-Kharj, 150 km (94 miles) south of Riyadh, after 1,500 birds died earlier this week. The statement said it was not clear how the birds had become infected with the H5N1 virus. It gave no more details.." [more]

Iran's Oil Minister in Saudi Arabia [Nov 15]
"Iran's oil minister and his entourage have landed in the Saudi capital, Riyadh, ahead of OPEC's third summit, beginning on November 16. The Iranian Minister of Economic Affairs & Finance, Davood Danesh-Jafari, is also set to participate in third OPEC summit. Oil ministers and economy experts of 12 OPEC member states are due to exchange views on the future of oil and energy at the summit. Iran will also put on display its technological capabilities in gas and oil industries.." [more]

Inflation Is a Source of Worry: Sayari [Nov 15]
"Saudi Arabia’s central bank chief said domestic housing, and global food and commodity prices were fueling Saudi inflation rather than the dollar’s decline, the Financial Times reported yesterday. 'The high global food prices, commodity prices and domestic housing costs; these are the major sources of inflation,' the FT quoted Saudi Arabian Monetary Agency (SAMA) Gov. Hamad Al-Sayari as saying. 'The weakness of the dollar has a role but it’s not the main cause,' he said. Inflation in Saudi Arabia rose to 4.89 percent in September, its highest in at least a decade.. ..SAMA manages the Kingdom’s foreign assets, which were worth $258 billion at the end of September.." [more]

OPEC Aid to Offset Price Impact [Nov 15]
"The Organization of Petroleum Exporting Countries (OPEC) has announced that it will help developing and least developed countries (LDCs) offset part of the impact of the rise in oil prices by funding their socioeconomic projects.. ..He mentioned that OPEC member states would be investing up to $150 billion on 120 projects to produce 19 million bpd by 2015. As for its role in alleviating the pain of developing countries, he said OPEC would assist them in their economic development programs, especially in the fields of education, housing and health care.." [more]

Jihad and the Saudi Petrodollar [Nov 15]
"two months investigating Wahhabism, Saudi Arabia's austere brand of Islam. In the first of a two-part series, to be broadcast on the BBC World Service, he looks at the fierce debate over whether Wahhabism and Saudi petrodollars have fomented extremism.. ..Over the last two months I've talked to officials of the Saudi government and Saudi charities who argue the campaign against them is unjust. I've heard some of the world's leading experts, gathered in a small town in the Dutch countryside, attempt to define Wahhabism - and Salafism, the bigger family of conservative Sunni Islam of
which it's part.." [more]

Opec Won't Budge on Crude Production [Nov 15]
"Leaders of the 12 Opec countries are preparing an official statement that will reject calls for the oil producers' group to raise production and help ease record crude prices. There has been intense speculation at this week's Opec summit in Saudi Arabia that the organisation would ignore pleas from major oil consuming nations to open the taps. And it was confirmed today that Opec officials are working on an official statement that will end any last hopes in the US and Europe that the group could bring relief from the $90-plus oil price.." [more]

Saudi’s Biggest Travel Firm Plans IPO to Grow [Nov 15]
"Al-Tayyar Travel Group, Saudi Arabia’s biggest privately owned travel firm, said it aims to raise about 550mn riyals ($146.7mn) in an initial public offering before April to help finance acquisitions. The firm plans to sell 30% of its shares as it seeks to tap Saudi demand for foreign travel, and the international market for Muslim pilgrimages to Mecca and Medina from as far apart as the US and Australia, the company President Nasser al-Tayyar told reporters in Dubai yesterday.. ..“We are negotiating with a few companies in Australia to buy travel agencies,” he said on the sidelines of the Dubai air show, declining to be more specific.." [more]

Kingdom Set to Hold Two Major Gold Exhibitions [Nov 15]
"With an estimated $7.2 billion gold and jewelry sales per year, Saudi Arabia has emerged as one of the most attractive destinations for exhibitions in this highly specialized segment of the economy, an organizer of one of the biggest shows said yesterday.. ..Talking about the start of marketing of upcoming two international gold and jewelry exhibitions in Saudi Arabia in February next year, he said that Saudi market alone consumes 70 percent of the total diamond consumption in the region. The second gold and jewelry exhibition would be held at Prince Sultan Grand Hall at Al- Faisaliyah Hotel in Riyadh on Feb. 20-23, 2008. The third gold and jewelry exhibition will be held at Jeddah Hilton Hotel on Feb. 26-29, 2008.." [more]

GCC Ministers Aim to Forge Unified Policy on Foreign Workers [Nov 14]
"The GCC Labour and Social Affairs ministers began their 24th session to forge a unified strategy to limit the foreign workforce in GCC countries. The meeting aims to formulate a unified position to limit the flow of foreign workers into Gulf states in view of the rising number of expatriate workers. During the meeting, Abdul Rahman Hamad Al Atiyyah, Secretary-General of the Gulf Cooperation Council (GCC), said that it was high time that the GCC countries forged a unified strategy to limit the influx of foreign workers and created more job opportunities for their nationals.." [more]

US Trade Mission Eyeing Manufacturing Ventures [Nov 14]
"A US trade delegation from the state of Virginia, which held a meeting at the Jeddah Chamber of Commerce and Industry yesterday, is keen on finding partners for joint ventures. “Some of its members are also considering the prospects of joint ventures in manufacturing facilities,” Mark C. Myrick, head of the delegation and international trade manager at Richmond-based Virginia Economic Development Partnership, told Arab News on the sidelines of the team’s meeting with local businessmen.. ..Asked about Virginia’s imports from the Kingdom, Myrick said: 'Virginia gets its share from the overall $21 billion imports from Saudi Arabia, 98 percent of them oil.'.." [more]

Saudi King Okays New Centre for Islamic Studies [Nov 14]
"King Abdullah Bin Abdul Aziz has approved the establishment of a centre for Contemporary Islamic Studies and Civilisations Dialogue at Imam Mohammad Bin Saud Islamic University, the Saudi Press Agency reported. Dr Suliman Bin Abdullah Aba Al Khail, the University's rector, said the centre aims at 'projecting the greatness of Islam in handling problems and shedding light on Islamic systems and rights in Islam.' Apart from this, the centre looks into youth problems and women's issues and their rights in Islam, besides explaining the Islamic stand on terrorism and contemporary issues.." [more]

Worker Rights Society Denied Permission [Nov 14]
"Proposals by a group of concerned Saudis to launch an organization to protect the rights of workers and tackle unemployment in the Kingdom have been declined by the Ministry of Labor. Anees Al-Ansari, founder and president of the Saudi Society of Labor, received a telephone call last week from the labor minister’s office informing him that the organization had been denied permission, as there are already other bodies that play a similar role.. ..Al-Ansari said that members would ask the ministry to reconsider its decision. 'If we’re refused permission again, then we’ll go to the Court of Grievances to follow up on our right to establish the society. We can be asked to modify our goals but we can’t be totally rejected,' she said.." [more]

What Do Closer Turkish-Saudi Relations Mean These Days? [Nov 14]
"..the critical visits to Turkey by Saudi King Abdullah, Israeli President Shimon Peres and Palestinian President Mahmoud Abbas: Over the past few weeks, whether in its immediate region or further afield, Turkey has witnessed a series of developments in the Turkish-Islamic world. These developments have all occurred one right after the other and it appears that they will keep on coming.It would be quite naive to interpret the above events as being independent of one another. The greatest naivety, though, would be to view Turkey as outside of any of these developments.. ..there are diplomatic relations and regional cooperation seen between Turkey and Saudi Arabia which lie outside of what we have been accustomed to in recent years.." [more]

Saudi Arabia Seeks Positive Role in Tackling Climate Change [Nov 14]
"Saudi Arabia insisted yesterday that it wanted to play a positive role in tackling global warming but this should be done with new technology, not 'discriminatory' taxes against oil and petroleum.. ..Saudi Arabia and the wider Opec cartel had agreed that safeguarding the environment's future was one of the three top priorities, alongside reliability of oil supply and global prosperity, he added. But the way forward was not higher taxes or financial help for alternative energy sources such as coal, he insisted. 'We do not like policies that discriminate against petroleum or fossil fuels in general.'.." [more]

Alberta Oil Too Costly: Saudi Official [Nov 14]
"Canada is one of the world's costliest oil producers and requires high prices to remain viable, Saudi Arabia's oil minister said in Riyadh on Tuesday, suggesting Saudi Arabia is a better value for investors. Commenting in Arabic, Ali Al-Naimi noted that the 'sands of oil' in northern Alberta need prices to be at least $40 to $60 US a barrel to develop the massive reserves, which are pegged as second only to Saudi Arabia's.. ..In Calgary, Greg Stringham of the Canadian Association of Petroleum Producers agreed the oilsands are costly to develop. 'It's not a big secret that the Canadian oilsands are more costly to develop than Saudi's," he said. "But it is also clear that Canadian production is something that the world is taking interest in.' Al-Naimi meanwhile suggested high prices benefit both producing and consuming nations by making high-cost energy sources economically viable.." [more]

Saudi NAS Air Plans IPO to Value it at $2 bln [Nov 14]
"Saudi Arabia's National Air Services said on Wednesday it plans to sell 30 percent of its shares in an initial public offering valuing the firm at about $2 billion next year to help finance aircraft purchases. 'We are eyeing by mid-2008 to launch an IPO listed on the Tadawul,' company President Taher Agueel told reporters at an air show in Dubai. 'Initial valuation of the company is $2 billion.'.. ..NAS operates a luxury airline called Al Khayala, low-cost carrier NASair, and a private aviation service that rents and offers part ownerships of jets in the Gulf Arab region. The company confirmed a $1.3 billion order for 20 single-aisle A320 aircraft at the Dubai air show this week. NAS said it also plans to borrow to finance aircraft purchases over over $4 billion in the next five years to increase its fleet to 167 by 2012.." [more]

Record Number of Chinese Muslims to Make Mecca Pilgrimage [Nov 14]
"A record 10,700 Chinese Muslims are expected to make a pilgrimage to Mecca, Saudi Arabia, the Islamic Association of China (IAC) said here on Wednesday. It is the first time the figure has topped the 10,000 mark. Between Nov. 15 and Dec. 7, Chinese Muslims will travel via 33 non-stop charter flights to the Islamic holy site and return between Dec. 25 to Jan. 16, according to IAC Vice Chairman Yang Zhipo.. ..To prevent possible accidents, China's Regulations on Religious Affairs, which was promulgated in 2004, stipulates that all outbound pilgrimage activities of Chinese Muslims should be organized by the national Islamic association, referring to the IAC. China has more than 20 million Muslims.." [more]

Moderation Helped Us Win Friends [Nov 13]
"Custodian of the Two Holy Mosques King Abdullah yesterday voiced his optimism that peace and justice could be established in the world if nations returned to God and upheld their shared values. 'Returning to God the Almighty is the way for nations to escape from the calamities of disputes and conflicts,'.. ..He said the moderate policies adopted by the Kingdom had not only won the confidence of friendly countries but also resulted in boosting relations with them. King Abdullah emphasized that the growing problems of wars and conflicts could be tackled through a spirit of justice. The king hoped that his foreign tour, which took him to Britain, Switzerland, Italy, Germany, Turkey and Egypt would contribute to achieving a just and comprehensive peace settlement in the Middle East, protecting the rights of all parties.." [more]

Fears About Oil Supplies Groundless: Saudi [Nov 13]
"The oil minister of OPEC kingpin Saudi Arabia said on Tuesday that fears about a shortage of crude supplies were groundless and there was no reason for them to push prices to current record levels.. ..'The prices today have really no relation with the fundamentals,' he said. 'I believe OPEC in general and Saudi Arabia in particular have demonstrated their ability to respond very quickly to any disruption,' Nuaimi added. 'So I don't foresee the tightness (in the market) that pessimists are talking about.' Nuaimi said there was 'no room' for pessimism and 'no reason for it to push the prices to where they are today.' World oil prices held above 94 dollars per barrel in Asia on Tuesday in steady trade ahead of the weekend summit of the oil cartel.." [more]

Musharraf to Visit Saudi [Nov 13]
"Pakistan President Pervez Musharraf is expected to travel to Saudi Arabia shortly for "important discussions" with King Abdullah, a media report said here on Tuesday. Musharraf had planned to go for a two-day visit on Monday but it was deferred.. ..Musharraf and the Saudi king are expected to discuss issues related to Sharif and his 'future arrangement', the report said. Sharif is currently living in a palace in Jeddah as a state guest of the Saudi royal family and King Abdullah has met him while Foreign Minister Prince Saud al Faisal has been interacting with him on a regular basis. The Saudis are of the view that Sharif and his brother Shahbaz Sharif, who is also in exile, should not 'suffer politically at home and they must get a level playing field in the affairs of Pakistan'.." [more]

Saudi Arabia: Religious Tourism Set for 20% Annual Growth [Nov 13]
"Saudi Arabia’s religious tourism market is expected to grow by about 20% annually over the next decade and hotels in Makkah and Madinah are forecasting strong occupancy rates this year, according to The Rezidor Hotel Group, one of the world’s fastest growing hotel companies, which plans to open three new properties in the holy cities by 2010. 'The Kingdom’s geographical, economic and social attributes have a lot to offer to tourists, particularly Muslim travellers who visit the country for Hajj,' said Mohamed Benamar, District Director Saudi Arabia of The Rezidor Hotel Group. 'Saudi Arabia is one of our major growth markets and religious tourism will be our main focus.." [more]

Saudis Ask Musharraf to Release Hameed Gul [Nov 13]
"Saudi Arabia has quietly asked the Pakistani authorities to immediately release the ailing Lt General Hameed Gul who is incarcerated in Adiala jail along with his son Abdullah, as the retired general is considered an old friend of the Kingdom and King Abdullah is one of his admirers. It would be the first time that the Saudis or any foreign government has made a request for release of a retired Army general who has been put in the jail for opposing the policies of General Musharraf. Saudi ambassador to Pakistan, Ali Awadh Asseri, has conveyed a message to the Pakistani authorities that the old friend of the Kingdom should be released as he is widely respected for his services to the cause of Islam during the Afghan Jihad.. ..The Saudi ambassador is said to have contacted Uzma Gul, his daughter and expressed his deep sorrow over the ordeal. He is said to have told Uzma that the Saudi government was taking up the issue of his release.." [more]

Treatment of Saudi Detainees in Iraq Heavily Criticised [Nov 13]
" Saudi human rights official has criticised the treatment meted out to to Saudi detainees by authorities in Iraq. He said that Saudis in Iraq's jails are treated badly compared to other nationalities. 'Even the verdicts issued against them are harsher compared to the crimes they have committed,'.. ..'For instance a Saudi who illegally enters Iraqi territories may receive a jail term of 15 years,' he added. At the same time, Al Qah'tani praised the Americans dealings with the dossiers of Saudi detainees. He noted that representatives from NHRS were unable to have access to Saudi detainees in Iraq due to tight security.." [more]

Saudi Equity Market Poised for Boom [Nov 13]
"The Saudi Arabian equity market, the most active initial public offering (IPO) market and largest stock market by capitalisation in the Middle East, is set to double over the next two years, according to Brad Bourland, chief economist at Jadwa Investment.. ..'Currently, there are 100 companies listed on the Tadawul index and I would expect that number to double within the coming two years. Being held in Saudi Arabia, this summit is creating a healthy environment for IPO partners and bankers to do business together for the benefit of the stock market and the wider Saudi economy.'.." [more]

Rights Body in Study of Saudi Price Rise Impact [Nov 13]
"A government-sponsored Saudi human rights body is studying the impact of rising prices on poor people in the latest sign of pressure on authorities to tackle inflation at decade highs. The Saudi central bank is hamstrung in its efforts to curb prices by an exchange rate pegged to the dollar, which forces it to track US monetary policy. Inflation hit a 10-year high in September of 4.89%.. ..The National Human Rights Authority held a meeting on Sunday with representatives from five ministries, including the labour and economy ministries, a spokesman for the authority said. 'There were discussions but no conclusions,'.." [more]

IDB to Give $16m for Moro Uplift [Nov 13]
"The Islamic Development Bank (IDB) has decided to give $16 million to the Moro National Liberation Front (MNLF) for poverty alleviation and reconstruction of infrastructure in the southern Mindanao region. According to the Organization of the Islamic Conference (OIC), $4.2 million of the allocation is ready for immediate delivery. The announcement was made at the end of a three way meeting between the Philippines government, the MNLF and the OIC.. ..The meeting’s agenda consisted of one main item — to review the implementation of the 1996 final peace agreement between the Philippine government and MNLF and assess the progress made and obstacles to its implementation.." [more]

Saudi Monarch Woos Turkey's Islamists [Nov 12]
"When King Abdullah bin Abdul Aziz visited Turkey in August last year, it was 40 years since a Saudi monarch had last visited. When the 83-year-old monarch arrived in Ankara on Saturday with an entourage of 11 planes for his second visit in a year, it was an extraordinary overture. But it was comprehensible. Middle East politics have assumed an unprecedented level of criticality. The Saudis feel the need to Riyadh is signaling Turkey's strategic role. A historical paradox must be noted: Saudi Arabia was the cradle of the "Arab revolt" that sounded the death knell of the Ottoman Empire. It now solicits Turkey's regional role. Turkey, too, is ready to return to the Muslim world after nearly a century's absence.." [more]

Kingdom, Egypt Urge Serious ME Talks [Nov 12]
"Custodian of the Two Holy Mosques King Abdullah returned to Riyadh yesterday at the conclusion of a successful six-nation tour, which saw the signing of several vital accords with Britain, Italy, Germany and Turkey and a historic meeting with Pope Benedict XVI. The king held two rounds of talks with Egyptian President Hosni Mubarak in Cairo. The talks, according to presidential spokesman Suleiman Awad, focused on the Middle East peace conference called by US President George W. Bush as well as the situation in Iraq and Lebanon. Saudi Arabia and Egypt are hopeful that the peace conference, which is scheduled to be held in Annapolis, Maryland later this month will bring about a just and lasting peace, closing the file on the Palestinian-Israeli conflict, ending the occupation and restoring the rights of Palestinians.." [more]

Saudi Keeps Dec Oil Supply Steady to Asia, Europe [Nov 12]
"Saudi Arabia, the world's top oil exporter, will keep supplies of term crude to Asian and European refiners for December steady at November levels in an expected move as prices hover near $100 a barrel. Traders are now watching if the oil kingdom would offer more crude from January after Saudi oil minister al-Naimi said on Sunday that OPEC would discuss an increase in output at an upcoming meeting. He did not make clear whether he was referring to the OPEC heads of state meeting in Riyadh later this week or its next policy meeting on Dec. 5.. ..Full shipments in November and December to Asia could equate to as much as a 350,000 barrels per day (bpd) increase in Saudi exports from October levels. This would be more than half of OPEC's pledge of a 500,000-bpd increase in its supplies from this month, which Naimi had persuaded his peers to accept at their last meeting in September.." [more]

Saudi Arabian Airlines Chooses the Airbus a320 for Fleet Renewal [Nov 12]
"Saudi Arabian Airlines, Saudi Arabia’s national airline, has signed a Memorandum of Understanding (MoU) for 22 Airbus A320 aircrafts as part of the fleet modernization plans. The agreement allows Saudia to increase the order by eight further A320s. The agreement marks a period of rapid expansion of the aviation market in the region with Saudia experiencing unprecedented demand for air travel. The order is particularly significant as it marks the first time Saudi Arabian Airlines have placed an order with Airbus in some two decades.." [more]

Cisco Tops List for $3bn Saudi Fixed Line [Nov 12]
"US networking firm Cisco Systems has topped a list of companies competing for building the infrastructure of a new private fixed-line phone network in Saudi Arabia, the chief executive for the US-Saudi joint venture said in a statement on Saturday. CEO Zohair Azhar said the partnership of Saudi Optical Communication Co. (OCC) and US telecom titan Verizon Communications is allocating 11.25 billion Saudi riyals ($3 billion) for developing the infrastructure and services of its fixed-line network. Cisco will be competing with Nokia, Ericsson, Alcatel and other companies in constructing the advanced fiber-optics network that area planned to link 21 Saudi cities in its first seven years of operation.." [more]

Aramco, Sumitomo to Expand $10 bln Rabigh Project [Nov 12]
"Saudi Aramco and Japan's Sumitomo Chemicals are in talks to expand their $10 billion joint venture, Rabigh Refining and Petrochemical Co (PetroRabigh), the venture's chief executive said. The two firms are in 'serious discussions' to expand the petrochemical complex, which is expected to start commercial operations in the fourth quarter of 2008.. ..Sumitomo and state-owned Aramco, the world's largest oil company by output, agreed in 2005 to develop the petrochemical complex through a 50-50 joint venture that would upgrade a refinery at Rabigh on the Red Sea coast. In January, they will sell a 25 percent stake in an intial public offering.." [more]

Women Empowerment Tops GCC Social Affairs Agenda [Nov 12]
" Support for women to be more socially active and participate more in social development programs in the six Gulf Cooperation Council (GCC) states, as well as initiatives to establish a unified Gulf data center for the disabled and a discussion of ways to better protect children against violence are among the topics to be discussed at the GCC labor and social affairs ministers’ meeting tomorrow.. ..Regarding Arab accords on the protection of children and women against domestic violence, the minister said the meeting would discuss a special report on domestic violence in Gulf countries, its social impact and problems. Another report on ways to further support women in social development in the six Gulf countries will also be discussed by the ministers, Al-Akkas said.." [more]

Saudi Arabia to See $8b IPOs Next Year [Nov 12]
"Some 40 firms will sell shares to the public in Saudi Arabia in 2008, in offerings worth up to $8 billion, or twice this year's total, the investment banking arm of state-owned National Commercial Bank (NCB) said yesterday. 'We may see 30 to 40 companies,' Hasan Al Jabri, head of investment at NCB Capital, told a conference in Riyadh.. ..'The 40 companies who have announced that they would like to go for an IPO next year are talking about less than $8 billion.' Jabri said there had been about 25 initial public offerings in Saudi Arabia in 2007, which raised a total of around $4 billion.." [more]

Saudi Stocks Fall Slightly [Nov 12]
"The Saudi stock index dropped slightly yesterday after rising to nearly one-year high on Saturday. The Tadawul All-Share Index (TASI) fell 4.31 points to 9,074.34 after reaching 9,078.65 points on Saturday, its highest close since Nov. 1, 2006.In the banking sector, the only gainer yesterday was Banque Saudi Fransi as its shares increased 1.29 percent to SR78.. ..Shares of 57 companies were in the red while 32 companies were in positive territory yesterday. Over SR9.26 billion worth of shares changed hands yesterday.." [more]

King Seals Turkish Partnership, meets Mubarak [Nov 11]
"King Abdullah, Custodian of the Two Holy Mosques, held talks here Saturday afternoon with Egyptian President Hosni Mubarak on the Palestinian issue, the Turkish-Iraqi problem over Kurdish militants and the Iranian nuclear controversy among other regional matters.. ..A Saudi-Turkish joint communiqué issued at the end of the visit - the first during the King's current tour - said the two sides would step up cooperation on regional issues, exchange high-level visits regularly, and coordinate in political, cultural, security and legal matters, especially regarding combating terrorism and crime. The two countries agreed to enhance bilateral trade and business, open branches of banks in each country, and encourage bilateral investments.." [more]

GCC to Focus on Security at Summit [Nov 11]
"Leaders of the six Gulf Co-operation Council (GCC) member states are to hold their annual summit in Qatar on December 3-4, the bloc’s chief said yesterday. The heads of state will focus on “Gulf security” at their meeting in Doha, HE Abdulrahman al-Attiyah said. This year’s summit 'is important given the regional situation, chiefly the continuing deterioration of the situation in Iraq and the escalation between Iran and the West over its nuclear programme,'.. ..foreign ministers from Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates would hold a preparatory meeting for the summit in Doha tomorrow.." [more]

Money Supply in Saudi Tops 19pct [Nov 11]
"Growth in Saudi money supply, an indicator of future inflation, accelerated to 19.4 per cent in September, up slightly from the month earlier, paced by investments in time and savings deposits. M3, the broadest measure of money circulating in the Saudi economy, rose to 744.13 billion riyals ($198.4bn) at the end of September, compared with 623.46bn a year earlier, the Saudi Arabian Monetary Agency said. M3 grew 18.8pc in August and 21.5pc in July, the fastest annual increase since November 2004. Saudi inflation climbed to its highest in at least a decade, 4.89pc, in September.." [more]

Saudi Investors Urged to Tap Philippine Prospects [Nov 11]
"Pointing out that some major Saudi businessmen, including Prince Alwaleed ibn Talal, have invested in the Philippines, a senior Philippine diplomat has called on prospective Saudi investors to explore trade and investment opportunities in the Philippines, including Mindanao, in the south. Addressing the 2nd Integrated Mindanao Economic Forum (IMEF) at the Philippine Embassy in the Diplomatic Quarter on Friday, Nestor N. Padalhin, deputy chief of mission and consul general, said on behalf of Ambassador Antonio P. Villamor ? who is in Jeddah to attend the OIC-mediated peace talks between the Philippine government and the MNLF ? that Prince Waleed bin Talal's multimillion investment in the Philippines in hotel sector is a good indication and would encourage more Saudi to invest in the country.." [more]

Saudi Index Posts Fresh 1-yr Closing Peak on STC [Nov 11]
"Saudi Arabia’s main index hit a fresh one-year closing high yesterday as Saudi Telecom Co offset declines in banking stocks that had rallied this month. The index of the Arab world’s largest stock market rose 0.22% to 9,078.65 points, extending gains for the sixth time in seven trading days that have taken it to its highest close since November 1, 2006. Saudi Telecom rose 1.4% to 72.25 riyals ($19.27), compared with price targets of 76.35 riyals and 88.50 riyals from SICO investment bank and National Bank of Kuwait, respectively. Saudi Basic Industries Corp (Sabic) also added 0.8%. Shares of the world’s largest chemicals firm by market value have surged about 50% this year.." [more]

SR2bn Landmark Project Planned in Jeddah [Nov 11]
"A 'world-class' real estate property is being planned in central Jeddah, which is described as a SR2 billion landmark project. “The project includes offices, residential apartments, a five-star hotel and high-end retail,” Dr. Mohamed A. Kashgari, CEO retail division, Savola Group, said in his announcement on the sidelines of a contract signing ceremony at the Jeddah Hilton yesterday.. ..The project has been planned as an integrated mixed use development including offices up to 123,000 sq m, residential apartments of 77,000 sq m, a five-star hotel of 30,000 sq m and high-end retail of about 36,000 sq m. There will be parking for 4,000 cars.." [more]

Saudi Bans Poultry Imports From Canada [Nov 11]
"The Saudi agriculture ministry has imposed a temporary ban on the import of live chicken and chicken products from Canada due to reports of bird flu there. The Saudi press agency said the ban follows reports from World Organization for Animal Health that confirmed reports of bird flu in the Regina province of Canada.. ..The Saudi Arabian decision comes close on the heels of a ban by Ukraine on Canadian poultry imports.." [more]

Group Demands Probe on Filipina Maid's Death in Riyadh [Nov 11]
"Overseas Filipino workers group in the Middle East are demanding an independent investigation into the death of a Filipino domestic worker in Riyadh. The Kapatiran sa Gitnang Silangan told the Philippine Embassy in Saudi Arabia that they doubt a report that Anita Carvajal Morales committed suicide inside a Riyadh police station.. ..The body has been brought to the National Bureau of Investigation for autopsy.." [more]

Experts Call for Solving Jeddah’s African Problem [Nov 11]
"Experts say that huge numbers of illegal Africans living in the southern parts of Jeddah is a problem that, if left unattended, could lead to massive demographic changes in Jeddah within 50 years, Al-Watan newspaper reported. 'The authorities need to act quick and do something,' said Ihsan Tayeb, a social scientist. 'The authorities need to benefit from the large number of illegals in the southern parts of Jeddah by changing their social status and giving them a priority in jobs that Saudis are reluctant to do,' he added. Authorities have failed to effectively deport illegal Africans simply because identifying their country of origin has been an impossible task.." [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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