Saudi-US Relations Information Service

Keeping Track - Recently on SUSRIS











Rollover image for info		Rollover image for info

Ten Saudi Guantanamo Inmates Free [Dec 29]
"Ten Guantanamo Bay detainees have been freed and returned home to Saudi Arabia, US and Saudi officials say. The government in Riyadh will mitigate any risk posed by the former detainees with a programme to integrate them into civilian life, the Pentagon says. Around 275 people remain at the detention centre in Cuba and the Pentagon says another 60 inmates are now eligible for transfer or release. The US has returned dozens of Saudi former detainees over the past year.." [more]

Take a Peek at the Saudi Bourse [Dec 29]
"A few weeks ago Dr. Abdul Rahman Al Tuwaijeri, chairman of Capital Market Authority (CMA), announced plans to transform Tadawul, the Saudi stock exchange, into a joint stock company.. ..The CMA recently announced the formation of Tadawul's board of directors, approved by the Council of Ministers. These are steps in the right direction as the government liberalises the Kingdom's capital market and provides a platform to the investing public to participate in economic growth. Today, Tadawul is at a defining moment in its history.." [more]

Swiss Halt Probe of Saudi Suspected of Terror Funding [Dec 29]
"Swiss authorities have dropped an investigation into a Saudi businessman suspected of financing Al Qaida-linked terrorism networks, a lawyer said on Friday. The Federal Prosecutor's Office halted the six-year probe into Yassin Al Qadi, who was alleged to have used Swiss bank accounts to transfer funds of over $1 million (about Dh3.65 million) to individuals tied to Al Qaida, said his lawyer Marc Bonnant. "All accusations were dropped," Bonnant said. Al Qadi was designated a global terrorist by the United States in October 2001 and his name also is on the United Nations terror blacklist.." [more]

What Control Does Opec Have Now? [Dec 29]
"..The Organisation of Petroleum Exporting Countries (Opec) declared last month it had lost control of the world market, but energy experts say the group has wrested much of the control back since.. ..Oil sector analysts say Opec doesn't want to succumb to pressures to raise supply, since market oversupply was the cause of sharp falls in the price of oil as recently as in the late '90s. In 1998, for example, oil prices on the world market were down to as low as $9 per barrel. With the benefit of hindsight, Opec is watchful not to let inventories slip out of hand, at a time when the chances of a global economic downturn look real on the back of the severely weakened dollar and the sub-prime mortgage crisis in the United States, the world's largest oil importer.." [more]

Huraisi Case Goes to Appeal [Dec 29]
"The high-profile case of Salman Al-Huraisi, a 28-year-old Saudi hotel security guard who died as a result of alleged beatings by two members of the Commission for Promotion of Virtue and Prevention of Vice, has been transferred to the Cassation Court, the Kingdom’s court of appeals. A ruling is expected within a month. Raif Badwi, a human rights advocate, has teamed up with the family’s attorney, Yahya Al-Huraisi, to appeal the lower court’s decision on Nov. 28 dropping all charges against two defendants in the murder case — both of them Commission members.. ..'The ruling (by the lower court) implies what I refer to as a ‘license to kill’,' Badwi told Arab News. “If the Cassation Court does not overturn the lower court’s decision and there is no intervention from higher authorities, this basically means that these people can enter anyone’s house in the name of religion, humiliate them physically and mentally, take them to a station and even kill someone and get away with it.'.." [more]

Saudi Arabia Condemns Killing of Benazir Bhutto [Dec 28]
"Saudi Arabia Friday strongly condemned assassination of Pakistan Peoples Party’s Chairperson Benazir Bhutto. 'With immense sorrow and grief, we have come to know about the martyrdom of her Excellency the venerable sister Benazir Bhutto at the dastardly and treacherous hands of terrorists,' said Custodian of two Holy Mosques, King Abdullah Bin Abdul Aziz. In a condolence message to President Pervez Musharraf, he said 'Saudi Arabia is confident that this crime, despite its enormity, will not dent the determination of true and faithful brothers and sisters in Pakistan.'.." [more]

Petrochem Industry Fears Free Trade With the Gulf [Dec 28]
"A leading industry body has urged the government to keep key petrochemical products outside the purview of the proposed free trade agreement with the Gulf Cooperation Council (GCC), fearing unfair competitive advantage. Indian manufacturers are at a disadvantage because key inputs like feedstock are available in GCC countries at subsidised prices, the Associated Chambers of Commerce and Industry of India (Assocham) said in a statement issued Friday.. ..As a bloc, GCC is India's third largest trading partner after the European Union and the US, according to latest import statistics available with the commerce ministry.." [more]

New Middle East Sukuk Market Hits $19bn in ’07 [Dec 28]
"The Middle East’s primary market for Islamic bonds is expected to close at $19bn in 2007 as further deals are delayed amid concerns over a weakening dollar, bankers say. 'It’s the year end, no issues are likely to hit the market now,' said Nader al-Salim, a banker at Citi Islamic Investment Bank. As of December 10, new sukuks issued in the Middle East were close to $18.65bn, compared to a global market of $27bn, according to Zawya.com data.. ..Saudi Arabia’s Al Rajhi Cement Investment Co said it planned to sell $600mn of Islamic bonds by the end of February to finance construction of plants in Syria and Jordan.." [more]

Reflections on the Qatif Saga [Dec 28]
"..Domestically as well, people were aghast that judges could render out such judgment against a rape victim.. ..King Abdullah has unconditionally pardoned the victim and her lawyer. The royal pardon reflected the opinion of the majority of Saudis who saw in this case the issue of biased justice.. ..The judiciary must be overhauled and a recognized and codified system of justice implemented. By simply basing judgment on one's bias or narrow interpretations of the Shariah, such cases will rise at one time or the other. But what is encouraging is that the majority of Saudis have no patience for such follies.." [more]

Saudi Blogger Held Incommunicado for Past Two and a Half Weeks [Dec 27]
"Reporters Without Borders condemns the detention of blogger Ahmad Fouad Al-Farhan since 10 December. His family does not know where he is being held or what he is charged with. He said on his blog a few days before his arrest that he was expecting a summons from the interior ministry.. .. 'After blocking the news website Elaph and the leading blog publishing service www.blogger.com, the authorities have now directly targeted a blogger for the first time. We call on the police to immediately reveal where and why Farhan is being held.'.. ..The Saudi government’s official Internet blacklist affects more than 400,000 websites, ranging from the sites of political organisations to those of unrecognised Islamist movements and porn sites.." [more]

Saudi Exports to Reach Record High of $240bn in ’07 [Dec 27]
"Saudi Arabia’s total exports of goods and services are expected to grow by 6.7 percent in 2007 to reach SR900.8 billion ($240.2 billion), according to a report issued by the General Statistics Department. Non-oil exports of goods are expected to grow by 24.9 percent to SR106.8 billion, it added. Preliminary statistics issued by the Saudi Arabian Monetary Agency (SAMA) said the Kingdom’s trade balance in 2007 was estimated to record a surplus of SR555.6 billion with an increase of 1.1 percent compared to the previous year. Current account is estimated to record a surplus of SR 344.4 billion in 2007 compared to SR371 billion in 2006.." [more]

Yemen, Saudi Arabia Discuss Cooperation in Religious Guidance [Dec 27]
"Minister of Religious Endowment and Islamic Affairs Hamoud al-Hitar discussed on Thursday with the preacher of the Grand Mosque in Makka Saleh bin Humeid cooperation relations between the two friend countries in field of Islamic guidance. They also discussed horizons of reinforcing contacts between Islamic scholars of Yemen and the Kingdom of Saudi Arabia so as to serve the Islamic faith as well as the issues of the Islamic nations according to moderation principle.." [more]

Saudi Embassies Can Issue Dependent Visas to Doctors [Dec 27]
"Wives and children of doctors working in the Kingdom can now obtain entry visas from Saudi embassies abroad, according to a circular issued by the Ministry of Foreign Affairs. Up till now foreign doctors like other expatriates had to stay in long queues at recruitment offices in the Kingdom to get entry visas for their family members. The new move is expected to benefit more than 7,000 foreign doctors working in the Kingdom. Dr. Khaled Al-Mirghalani, spokesman of the Health Ministry, welcomed the Foreign Ministry’s decision saying: 'This move will certainly improve the working conditions of doctors'.. ..The new move comes ahead of the Health Ministry’s plan to recruit more foreign doctors to provide family health care services. In June, Mirghalani said the Kingdom required at least 2,000 doctors to meet the present shortage.." [more]

India Fifth Biggest Market for Saudi Exports [Dec 27]
"India has been ranked as the fifth biggest export market for Saudi Arabia whose total exports grew 6.7 per cent in 2007 to reach SR900.8 billion (USD240.2 billion), a report said. The report by Saudi Arabian Monetary Agency, the central bank, today said that non-oil exports of goods are expected to grow by 24.9 per cent to SR106.8 billion. Japan topped the list of countries that imported Saudi products, mainly crude and petrochemicals, with its imports amounting to SR130.37 billion or 17 per cent of the total, the
department pointed out, adding that the country's imports from Saudi Arabia rose by SR24.79 billion. The United States held the second position receiving 15 per cent of the total exports.." [more]

SABIC, STC Send Saudi Index Higher [Dec 27]
" In only a three-day trading activity after the Eid holidays, Saudi Arabia’s Tadawul All Share Index ended higher yesterday, led by Saudi Basic Industries Corp. (SABIC) and Saudi Telecom Co. SABIC gained 0.88 percent and STC 3.85 percent. The benchmark rose 0.17 percent to 11,415.30 points. Top gainers yesterday were MESC, Real Estate, Pipes, Alujain and Jabal Omar. Most active by value were Saudi Kayan, Jabal Omar, STC, SABIC and MESC.." [more]

Saudi Oil Investments Top $100bn [Dec 26]
"Saudi Arabia has pumped more than $100 billion (about Dh367bn) into its oil sector over the last 40 years but the investments have largely been offset by crude sales which have fetched the Gulf Kingdom more than $1.6trn, official figures showed. The sales involved a total 79 billion barrels pumped out of the country’s giant oilfields since it began full crude exports in 1967, Acording to the Saudi Arabian Monetary Agency (Sama), which cited Saudi Aramco figures. Theoretically, such a massive output could have depleted the Kingdom’s oil resources as it exceeded its proven oil reserves of 68bn barrels in 1967. But the reserves have more than tripled to a record 264bn barrels at the beginning of 2007.." [more]

Economic Issues Worry Saudi Arabians [Dec 26]
"Adults in Saudi Arabia are clearly worried about financial hardship, according to a poll by D3 Systems released by Terror Free Tomorrow. 92.9 per cent of respondents believe reducing unemployment and inflation are important priorities for the kingdom. Addressing the problem of terrorism is second on the list with 88 per cent, followed by providing financial assistance to mosques and madrassas in foreign countries with 81.3 per cent, ensuring a free press and free elections with 79.4 per cent, and defeating al-Qaeda and other Jihadi groups with 60.9 per cent. Only 42.9 per cent of respondents consider permitting women to drive as a key priority.." [more]

Profit-Taking Hits Kingdom [Dec 26]
"The rally that was witnessed when trading in the Gulf stock markets resumed on Monday after the Eid holidays appeared to be short-lived, as Saudi and Omani shares ended lower yesterday after investors booked profit, with banks leading declines in both markets.. ..The Saudi Tadawul All Share Index closed down 1.81 percent at 11,396.28 points, ending a three-day rally. 'The market was overvalued in the past period and that is why we are seeing profit-taking,' said Abdullah Al-Rashoud, chief executive officer of Riyadh-based KSB Capital Group. 'I think the market will trade within the levels we are seeing now until the end of the first quarter of 2008.'.." [more]

Saudi-Japanese Energy Relationship is Enormously Important [Dec 26]
"A senior official of Saudi Aramco has said the Saudi-Japanese energy relationship is enormously important - not only for the Kingdom of Saudi Arabia and Japan, but also for the entire world. 'Japan is the world's second largest economy, a technological powerhouse, home to some of the planet's leading companies in a wide variety of industries, and a primary driver of what many international observers are calling the 'Asian century,'.. ..'The economic power of Japan coupled with Saudi Arabia's position in the energy picture through its national petroleum enterprise, Saudi Aramco, make it clear that the relationships between our countries and among our companies are a matter of tremendous significance,'.." [more]

The Ball Remains Firmly in the Iranian Court [Dec 26]
"December 2007 delivered new developments as far as Gulf regional security is concerned. Coinciding with the annual summit meeting of the Gulf Cooperation Council (GCC) in Doha, Qatar, from Dec. 3 to 4, a National Intelligence Estimate (NIE) was released in the United States, that stated with “high confidence” that Iran had abandoned its military nuclear program as far back as 2003.. ..Both the release of the NIE in the US and the attendance of President Ahmadinejad in Doha offered opportunities to calm Gulf tensions and downgrade the rhetoric that has been traded between Tehran and Washington. For Iran, in particular, it was a chance to inject confidence into the relationship with its Arab Gulf neighbors and, in conjunction with the NIE, to allay fears about Iranian intentions that over the past years have led to the distinct possibility of another Gulf conflict.." [more]

All Pilgrims to Leave by Jan. 18 [Dec 25]
"All pilgrims have to leave the Kingdom by Muharram 10 (Jan. 18, 2008) as per a deadline set by the Ministry of Haj. Hatim Hasan Al-Qadi, Undersecretary of the Ministry of Haj, said each tawafa establishment has been given a timetable for the departure of pilgrims. This year 1.7 million pilgrims came from over 181 countries.. ..The Central Haj Committee report said Makkah hospitals received 13,3940 emergency cases, and the Saudi Red Crescent Society tackled 1,4626 cases. Some 1,7028 missing pilgrims were guided and led back to their Haj missions.." [more]

Settlements Overshadow M-E Talks [Dec 25]
"Israeli and Palesti-nian negotiators were to meet on Monday for a second time since relaunching the Middle East peace process, with Jewish settlements once again overshadowing the talks. A day before teams headed by Foreign Minister Tzipi Livni and ex-premier Ahmed Qorei were to meet in Jerusalem, it was revealed that Israel was planning to expand two settlements in occupied Palestinian territory next year. the Palestinians, who have demanded that Israel freeze all settlement activity, slammed the move - the second settlement expansion announced since peace talks were revived at a US conference in November.." [more]

IPO Values Saudi PetroRabigh at Half Project Cost [Dec 25]
"Saudi Arabia's Rabigh Refining and Petrochemical Company (PetroRabigh) will raise 4.6 billion riyals ($1.23 billion) from the sale of a 25 percent stake in an IPO next month, the offering's lead manager said on Tuesday. PetroRabigh, a $10 billion joint venture between Saudi Aramco and Japan's Sumitomo Chemicals will sell 219 million shares to Saudi nationals at 21 riyals each, HSBC Saudi Arabia said in a statement. The share price offers a 50 percent discount on the project's cost of $10 billion.." [more]

Gulf Bourses Resume Trading With a Bang [Dec 25]
"Stock markets in the Gulf impressively re-opened trading activity yesterday after the Eid holidays as investors’ expectations of positive full-year company profit results propelled the markets further into positive territory. Saudi Arabia’s benchmark Tadawul All Share Stock Index closed up 2.26 percent to 11,606.34 points. Turnover reached SR18.21 billion with a total volume of 459,746,668. It is the best-performing Arab benchmark in the fourth quarter, up about 45 percent since Oct. 1.." [more]

Saudi Inflation Tops 5% Even as UAE Sees Plunge [Dec 25]
"Inflation in three Saudi Arabian cities, including the capital Riyadh, rose to more than 5 percent in the third quarter, accelerating at a faster pace than the country average, the central bank said yesterday. Price rises in Riyadh grew 5.9 percent in the three months ended Sept. 30, while inflation hit 5.2 percent in Najran and 6.1 percent in Hail, the fastest pace in the oil producer’s 16 cities, the Saudi Arabian Monetary Agency said on its website. Inflation averaged of 4.4 percent in the largest Arab
economy in the third quarte.." [more]

Countdown to GCC Common Market Begins [Dec 25]
"Countdown to the GCC common market has begun. Earlier this month in Doha, leaders of the six-nation Gulf Cooperation Council (GCC) pledged to launch a common market in January. The common Gulf market is aimed at finding a single market through which GCC citizens can benefit from the available opportunities in the Gulf economy as well as opening broader mutual and foreign investments. It is also aimed at increasing benefits resulting from the volume of economies and raising efficiency in production as well as realizing the model usage for available resources and improving the GCC countries negotiating abilities and enhancing their influential position among the international economic groups.." [more]

Saudi Police Arrest 28 in Foiled Plot During Hajj [Dec 24]
"The number of men arrested late last week in a suspected plot to attack Muslim holy sites around Mecca and Medina during the hajj, the annual Muslim pilgrimage, was put at 28 in a statement issued Sunday by the Saudi Interior Ministry. Over the past several years, the government has announced that it has foiled several domestic terrorist plots but has provided few details. This time, the news that almost all of the men were Saudi and that the supposed plot was to have taken place during a religious holiday caused widespread consternation.. ..The press agency did not say whether the arrests were linked to the announcement on Friday of the foiled plot, but it noted that 27 of the 28 men arrested were Saudi citizens, and that they were part of a 'deviant group,' a common official euphemism for Al Qaeda.." [more]

Saudi Rejects Politicisation' of Rights [Dec 24]
"International human rights reports have made valid points which could benefit Saudi Arabia, but ‘politicise’ the issues unnecessarily, according to the head of a government body. A spokesman for the government sponsored National Human Rights Association (NHRA) told the English language Asharq Al-Awsat newspaper the kingdom rejects the politicisation of reports issued by some human rights organisations or agencies working for Western governments. He did not mention any specific reports or organisations.." [more]

Saudi Media Enjoy Full Freedom, Madani Says [Dec 24]
"Culture and Information Minister Iyad Madani has highlighted the press freedom in Saudi Arabia and said his ministry had put no restrictions on foreign journalists and media persons who came for Haj coverage. 'We did not tell any foreign news agency or television station what they should cover and what they should not ... and with whom they should speak and with whom they should not ... the field was open to them and all facilities have been provided so they could do their work in an objective manner,' the minister said. 'This is one of the features of media work in Saudi Arabia and we at the Ministry of Culture and Information will not dictate that the Saudi media or a newspaper must say what we want it to say and we also will not exert influence on the foreign media to say what we want it to say,'.." [more]

Myanmar to Get Interest-Free Loan From Saudi [Dec 24]
"Myanmar may get long-term interest-free loan from the Saudi Arabian government which has set the country eligible for such loan under its National Assistance Fund being offered for developing countries, local media reported Monday. The Saudi government's 25-year interest-free loans are particularly aimed at social development in such areas as schooling, healthcare and electricity generation as well as other development projects if necessary, the Saudi Embassy sources was quoted by the weekly Myanmar Times as saying. Myanmar and Saudi have no official business links despite forging of diplomatic ties more than three years ago.. ..Saudi Arabia established diplomatic relations with Myanmar in August 2004 and opened its embassy in Yangon in December 2005.." [more]

Inflation in Three Saudi Cities Reaches 5% [Dec 24]
"Inflation in three Saudi Arabian cities, including the capital Riyadh, rose to more than 5 percent in the third quarter, accelerating at a faster pace than the country average, the central bank said on Monday. Price rises in Riyadh grew 5.9 per cent in the three months ended September 30, while inflation hit 5.2 per cent in Najran and 6.1 per cent in Ha'il, the fastest pace in the oil producer's 16 cities, the Saudi Arabian Monetary Agency said on its Web site. Inflation averaged of 4.4 per cent in the largest Arab economy in the third quarter, the central bank said. The dollar's weakness this year helped drive up food and beverage costs 6.5 per cent in the third quarter, while rents jumped 9.5 per cent in the period, the data showed. Saudi Arabia pegs its riyal currency to the dollar.." [more]

US to Keep Assessment of Peace Moves Confidential [Dec 23]
"The US will conduct confidential assessments of whether Israel and the Palestinians are meeting their peacemaking commitments and share the results privately with the parties, US and Western officials said. Israel has sought to keep the US process of judging compliance with the long-stalled road map peace plan largely secret. Palestinians say they favour disclosure of judgments on whether Israel is halting all settlement activity and whether the Palestinians are curbing militants as the plan demands. Though the Bush administration has decided to keep the assessment process confidential, it reserves the right to go public with its views if necessary.." [more]

Imams and Pilgrims Denounce Planned Attacks on Holy Sites [Dec 23]
"A number of Islamic personalities and pilgrims have denounced the failed terrorist plan to attack holy sites outside Makkah. Yesterday, the Interior Ministry said police arrested 28 men for allegedly planning to attack holy sites around Makkah and Madinah. The ministry said 27 of the men were Saudis and one was a foreigner. 'Thanks to God, the security forces managed to detain members of the deviated group who have links with elements outside [the kingdom] while planning to carry out criminal acts inside,' a statement by the Interior Ministry statement said. 'For security interests we will not divulge more details at present.'.." [more]

Haj Operation Huge Success: Prince Naif [Dec 23]
"Interior Minister Prince Naif, who is also chairman of the Supreme Haj Committee, declared yesterday the success of this year’s Haj operation and commended security officers for their excellent work in managing the world’s largest gathering. 'Thanks be to God, there was not a single accident and the Kingdom and all pilgrims are free of diseases and epidemics and this is, of course, a great blessing from God,'.. ..The minister had only praise for the security forces for their efforts to ensure the security and safety of the guests of God who came from more than 180 countries. Nearly three million pilgrims, including 1.7 million from abroad, performed Haj this year.." [more]

Balance of Global Power Changing Before Our Eyes [Dec 23]
"The sight of powerful bankers from the world's financial capitals going cap in hand to access the vast pools of wealth in China and the Middle East is one big sign of how the global game is changing. Over the past few months, investors from China, the Middle East and other emerging market economies have poured an estimated $60 billion into the world's big banks and other financial institutions.. ..It was noteworthy that when Citicorp recently decided to oust its chief executive officer following the bank's huge losses on subprime mortgages, board members flew to Saudi Arabia to consult with a Saudi prince, the largest individual shareholder in the biggest American bank. As Bob Dylan put it in another context, 'The times they are a changing'.." [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.
< Read More About SUSRIS >