Saudi-US Relations Information Service

Keeping Track - Recently on SUSRIS


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U.S., Saudi Arabia Jointly Put Pressure on Syria [Mar 1]
"The United States and Saudi Arabia have jointly pressured Syria to end allegedly political interference in Lebanon, including the U.S. military deployment off the Lebanese coast, the Washington Post reported Saturday. The new military, economic and diplomatic steps include the toughest actions taken by the Bush administration against Syria, such as a recent presidential executive order allowing sanctions against Syrian officials allegedly meddling in Lebanon, Saudi Arabia is considering withdrawing its ambassador from Damascus and pressed for an Arab League meeting to be held next week, to discuss the political vacuum in Lebanon followed by its inability to elect a new president since last November, said unidentified U.S. government officials in the report.." [more]

Over $240bn to be Pumped Into Saudi Property Market [Mar 1]
"More than 900 million riyals ($240.5 billion) will invested in Saudi Arabia's real estate sector over the next 12 years as economic development and population growth drive demand for property in the kingdom, according to new research. The study by King Fahd University of Petroleum and Minerals (KFUPM) predicted almost two million housing units would be built between now and 2020 at a rate of around 163,750 units per year, reported the daily Saudi Gazette on Saturday. The total number of housing units in Saudi is expected to reach seven million in 2020, the study said, estimating that there are currently just over five million units in the kingdom.." [more]

Saudi Khursaniyah Oilfield May be Delayed [Mar 1]
"Production at Saudi Arabia's 500,000 bpd Khursaniyah oilfield may be delayed beyond the first half of this year, a Saudi newspaper reported on Saturday. 'The oil field may start pumping limited quantities in May but it will not be able to meet the announced production capacity since the gas plant has not been completed yet,' Al Watan newspaper said, quoting an unnamed oil industry source. 'The project's completion might be delayed to beyond the first half of this year,'.." [more]

Saudi Investors Regaining Back Their Confidence [Mar 1]
"The Saudi stock was highly volatile last week following previous week’s jump of more than 10 percent. The Tadawul All-Share Index (TASI) gained further 1.62 percent last week, closing at 10,291.47 points from 10,127.10 points previous week. TASI is currently 7.9 percent lower than the year’s start. The Riyadh-based Bakheet Investment Group (BIG) said in its weekly report that with oil prices breaking the $100 per barrel barrier, investors of the world’s largest crude exporter restored confidence they seemed to have lost a month ago as a result of turmoil at global markets. 'We expect the Saudi stock market to witness a steady increase during the coming days with the retreat of negative external factors,'.." [more]

Opportunities Abound in Tourist Infrastructure: Maldives Envoy [Mar 1]
"The Maldives, the island country in the Indian Ocean, has opened its first embassy in the Middle East in Saudi Arabia. “We chose Saudi Arabia as the first destination to have our foreign mission in the region since the Kingdom, which hosts millions of pilgrims in the holy city of Makkah and Madinah, is accepted not only as a leader in the Muslim world but also as a strategic hub in the region,” said the new Maldivian Ambassador Hussain Shihab, who presented a copy of his credentials to Foreign Minister Prince Saud Al-Faisal in late February.." [more]

Saudi Arabia Invites Taiwan to Develop King Abdullah Economic City [Feb 29]
"Saudi Arabia has invited Taiwan to head the development of its new a multi-purpose King Abdullah Economic City, a newspaper in Taiwan reported Friday. The Saudi Arabian General Investment Administration (SAGIA) plans to give Taiwan priority in developing the city, the Economic Daily News said. Taiwan would form an investment company and sign a contract with SAGIA in march, according to the report. Taiwan's Vice Economics Minister Hsieh Fa-ta visited Saudi Arabia in January and met with Saudi officials and SAGIA members.. ..The King Abdullah Economic City will be built along Saudi Arabia's west coast, about 100 kilometres north of Jeddah. It is the largest among the six economic cities Saudi Arabia plans to build to lure foreign investment to boost its economy.." [more]

Saudi Purchase of Turkish Bank Approved: Official [Feb 29]
"Turkey's banking watchdog has approved the sale of privately owned Turkish Islamic lender Turkiye Finans to Saudi Arabia's National Commercial Bank, a BDDK official told Reuters on Friday. Last July, National Commercial Bank, the Gulf's largest lender by assets, agreed to pay $1.08 billion for 60 percent of Turkiye Finans. The BDDK official, speaking on condition of anonymity, said a statement would shortly confirm the approval of the sale.. ..Islamic banks only control 3 percent of Turkey's overall banking assets but their share is expected to more than treble. Officials have told Reuters they expect Turkiye Finans to see asset growth in 2008 to at least match last year's 36 percent.." [more]

Yemeni-Saudi Joint University to be Established [Feb 29]
"Minister of Higher Education and Scientific Research Saleh Ba-Sura returned home on Friday from Saudi Arabia after both countries agreed to establish a joint Yemeni-Saudi university aiming to serve Yemeni expatriates in the kingdom, whose number ranges between 15-20 thousand students. The minister clarified that he participated in the activation of the Cultural and Scientific Forum of the Yemeni Universities in the Saudi Universities. In a statement to Saba, the minister pointed out that higher education and scientific research ministries of both countries agreed to develop and activate aspects of cooperation between the two countries in the several fields .." [more]

Silencing Arab Media [Feb 29]
"In yet another erosion of political freedoms in the Middle East, the Arab League adopted a new Arab media charter this month, dealing a huge blow to press freedoms in the Arab world.. ..The importance of the television media in the Arab world should not be underestimated, especially in societies that lack serious political opposition due to oppressive governments, legal obstacles and failed political cultures. Private Arab television stations often present the only serious "opposition" to Arab regimes. What few voices exist promoting social change, especially since the United States has all but abandoned its democracy promotion efforts in the region, are only accessible via these satellite stations. They a forum for expressing conflicting and varied political views and routinely show footage of labor strikes, demonstrations and student protests - topics that have not found their way into state-controlled TV.." [more]

Saudi Scholars Slam Move [Feb 29]
"Saudi Muslim scholars and propagators have denounced the appointment of an Egyptian woman in the post of a Mazun (Islamic marriage attorney). In statements to Gulf News they said this step opens all doors for women, adding that this trend runs contrary to the teachings of Islamic Sharia. Shaikh Dr Abdul Rahman Bin Shraim Al Azahrani, a Saudi Sharia professor, said it was not permissible in Islam. 'Sharia does not allow women to assume such a job. During the era of the Prophet (PBUH), men were appointed as judges.'.. ..'Never during the era of the Prophet (PBUH) or his righteous companions, was a woman appointed to perform this task. No woman has been reported to have concluded the wedding contract of another woman,' he said.." [more]

Syria Slow on Saudi Invite to Summit Amid Lebanon Row [Feb 29]
"Syria has yet to invite regional powerhouse Saudi Arabia to an Arab summit in Damascus next month, an official said yesterday, as Arab League chief Amr Mussa said some member states would only attend if Lebanon's political crisis was resolved. Syria and its regional ally Iran are the main backers of the Lebanese opposition which has been at odds with the Saudi-backed Beirut government for months over the election of a new president.. ..Syrian Foreign Minister Walid Muallem handed an invitation to HH the Emir Sheikh Hamad bin Khalifa al-Thani in Doha yesterday to attend the March 29-30 summit. The previous day he delivered an invitation in Abu Dhabi to United Arab Emirates President Sheikh Khalifa bin Zayed al-Nahayan. It was unclear where the Syrian minister was headed next but Saudi media have made no mention of any planned visit.." [more]

Women’s Rights Group Riled by Ministry Rebuff [Feb 29]
"The founder of the Ansar Al-Marah Women’s Rights Society has condemned the Ministry of Social Affairs for denying initial approval to establish the society. The women’s rights activists in the Kingdom were eagerly anticipating the establishment of Ansar Al-Marah — the first civil society group dedicated to supporting women’s rights in the country.. ..Al-Watan newspaper yesterday reported, quoting a source at the Ministry of Social Affairs, that the ministry has not given approval to establish the society. The source claimed that authorizing such bodies is not the ministry’s responsibility. Suliman Al-Salman, the founder of the group, said not allowing this group to function is unfair. 'We need an official response from the ministry stating their reasons for this rejection,' he said.." [more]

Saudi King Boycotting Arab Summit, Mubarak Reluctant to Go [Feb 28]
"Saudi King Abdullah bin Abdul Aziz is boycotting an Arab summit due to be held in Syria next month and Egypt's President has not made up his mind yet on the conference amid a row over Lebanon's presidential crisis. Press reports, citing both Saudi and Egyptian sources, said the Saudi monarch will not attend the summit scheduled for March 29-30. They said Egyptian President Hosni Mubarak, however, is likely to attend the opening session only. The sources said that Mubarak and Abdul Aziz have agreed that participation, should it take place, is to be on a low level.. ..An Arab diplomat had also said that Syria was "accusing Saudi Arabia of trying to internationalize the Lebanese crisis" by supporting the Hariri tribunal which Syria fears could pin the blame on Lebanon's eastern neighbor. Damascus believes Saudi Foreign Minister Prince Saud al-Faisal's recent tour of several Western capitals, including Washington and Paris, was aimed at speeding up the establishment of the tribunal, according to a Riyadh-based diplomat.." [more]

No Freedom For Dean of Saudi Bloggers [Feb 28]
"A top Saudi blogger who was jailed late last year remains in prison more than two months later for
unspecified, non-security matters -- and there are few signs that he will be freed anytime soon.. ..Al-Farhan -- known on the Internet as the "Dean of Saudi Bloggers" -- was arrested on December 10 shortly after one of his blog entries was critical of influential Saudi religious, business and media figures. 'He is still being investigated,' Maj. Gen. Mansour al-Turki, a spokesman for the Interior Ministry, told CNN this week. Al-Farhan has yet to be charged with a crime, but under Saudi law can be held without charges for six months.." [more]

Saudi Aramco and Total Likely to Build Refinery Despite High Costs [Feb 28]
"France's Total and Saudi Aramco are likely to go ahead with plans to build a 400,000 barrels per day (bpd) refinery in the kingdom despite escalating costs, an industry source in Saudi Arabia said yesterday. The world's top oil exporter Saudi Arabia is planning four new plants as it looks to boost domestic refining capacity by as much as 1.6 million barrels per day from 2.098 million bpd. But rising costs for equipment and labour have hit the energy sector worldwide, forcing project cancellations and delays and raising industry concern about the new Saudi plants.. ..Total and Aramco would take a final investment decision on the plant in May or June.." [more]

Cumber is US Envoy to OIC [Feb 28]
"US President George W. Bush will formally announce later Wednesday that Texas entrepreneur Sada Cumber will be the first US envoy to the Organization of the Islamic Conference, the White House said. Bush, who first indicated in June 2007 that he would send an envoy to the OIC.. ..Asked why Bush's search for an envoy had taken as long as it had, Perino replied: 'He wanted to find the right person and he found that in Sada Cumber.' OIC, headquartered in Jeddah, groups 57 Muslim countries.." [more]

Saudi-Jordan Summit Talks Focus on Major Issues [Feb 28]
"The political standoff in Lebanon, the forthcoming Arab summit in Syria and the vulnerable situation in
Palestine topped the agenda of the talks between Custodian of the Two Holy Mosques King Abdullah and Jordanian King Abdullah II here yesterday. The wide-ranging talks during the several-hour visit of King Abdullah to the Saudi capital also focused on the latest developments in the Middle East region with special reference to Saudi-Jordanian relation.. ..Referring to the subjects of talks with Saudi king, the diplomat said: 'The talks between King Abdullah and Jordanian leader dealt on the chances of concluding a peace agreement between Israel and the Palestinians on core issues before the end of 2008 as envisaged earlier by US President George W Bush'.." [more]

Justice Ministry to Hire 2,000 New Judges [Feb 28]
"The Ministry of Justice will appoint 2,000 university graduates as judges to fill a shortage in the Kingdom’s courts, a newspaper reported yesterday. 'The ministry will select the most qualified graduates to enroll in the judiciary sector,' a ministry source told Al-Madinah newspaper, adding that the graduates would operate in the new appeal courts, which are scheduled to open in two years time as part of a project to develop the Kingdom’s judiciary. The source said the ministry would advertise the positions in the next few days.. ..In two years, on completion of a judiciary development project, the cassation courts are to be converted into appeal courts, which will be closely monitored by the Supreme Court in Riyadh. The appeal courts are designed to give people, who are unsatisfied with verdicts issued by preliminary courts, to have their rulings reviewed.." [more]

Jordan's King Departs for Saudi Arabia for Talks [Feb 27]
" Jordan's King Abdullah II on Wednesday left for Saudi Arabia where he will hold talks with Saudi King
Abdullah Bin Abdul Aziz on bilateral ties and means of further cementing them in various fields. According to Jordan's official news agency Petra, the talks during the several-hour visit are also expected to focus on the latest developments in the Middle East, mainly the situation in the Palestinian lands and Lebanon. Abdullah's visit to Saudi Arabia comes within his continued consultation and contacts with Arab leaders on ways of addressing challenges facing the Arab nations.. ..Later this week, Abdullah is scheduled to start a visit to the United States during which he is expected to urge the U.S. President George W. Bush to put pressure on Israel to show more cooperation in its current talks with the Palestinians.." [more]

Saudi Moves its Ambassador in Damascus to Doha [Feb 27]
"Saudi Arabia has decided to move its ambassador to Syria Ahmed Ali Qahtan to Doha in a move that reflected Riyadh's desire to lower its representation in Damascus. Arab Diplomatic sources in Damascus said the 'swift' Saudi measure was a result of the deterioration in relations between Syria and Riyadh over the Lebanese crisis.. ..Saudi Arabia recalled its ambassador from Doha in 2002 when the Al-Jazeera television network aired a debate in which participants strongly criticized the Saudi royal family, and the two neighbors often snipe at each other through their respective media.." [more]

Arab Media Code Attacks Free Speech - Group [Feb 27]
"A new Arab League charter on satellite broadcasting adopted this month amounts to a 'crude assault on free speech' that Arab governments should publicly reject, Human Rights Watch said on Wednesday. Arab governments, led by Egypt and Saudi Arabia, adopted a satellite broadcasting charter on Feb. 12 that will entrench state control over broadcasts and curtail political expression on the airwaves over a region of some 300 million people.. ..The Arab charter bans airing material seen as undermining "social peace, national unity, public order and general propriety", as well as criticising religions or defaming political, national or religious leaders. 'Many Arab states routinely use this language of 'state interests' and 'national sovereignty' as an excuse to imprison journalists and intimidate critics,' Stork said in a statement.." [more]

Most Muslims Desire Democracy [Feb 27]
"The largest survey to date of Muslims worldwide suggests the vast majority want Western democracy and freedoms, but do not want them to be imposed. The poll by Gallup of more than 50,000 Muslims in 35 nations found most wanted the West to instead focus on changing its negative view of Muslims and Islam. The huge survey began following the 11 September 2001 attacks in the US. The overwhelming majority of those asked condemned them and subsequent attacks, citing religious reasons. The poll, which claims to represent the views of 90% the world's 1.3 billion Muslims, is to be published next month as part of a book entitled Who Speaks For Islam? What A Billion Muslims Really Think.." [more]

Virtue Commission Refutes Professor’s Entrapment Claims [Feb 27]
"The head of the Commission for the Promotion of Virtue and the Prevention of Vice in Makkah has hit back at claims that the commission conspired against a professor who was sentenced to jail for eight months and 180 lashes for being in a state of “khulwa” (seclusion) with an unrelated woman.. ..He said that Al-Sanusi’s claims that the prosecution board had returned the case to the commission saying it had not seen any evidence of khulwa and that the commission took the case directly to the General Court were incorrect. He said that the case was taken to the prosecution board, which followed all legal procedures and that the General Court found the professor guilty.." [more]

Kingdom to Take Part in Water Conference [Feb 27]
" Saudi Arabia together with several Arab countries will participate in a high-profile international conference to be hosted by Germany to find out solution for the depleting water resources in the Middle East and North Africa region. The event will be organized on the sidelines of the International Trade Fair for Water, Sewage, Reuse and Recycling (IFAT), to be held in Munich May 5-9. Addressing a press conference here on Sunday, Eugen Egetenmeir, deputy managing director of Messe Munchen International (Munich Trade Fairs International Company), said here yesterday that IFAT is the most important environmental trade fair in the world.." [more]

Saudis Move to Stem University Radicals [Feb 26]
"Saudi Arabia has taken an unprecedented step to curb radicalisation among its university students in Australia by ensuring its pupils make up less than 1per cent of any campus. The move is a marked turnaround from past initiatives by the Saudi Government, including allegedly bankrolling hardline Muslim clerics, such as Canberra-based Mohammed Swaiti who openly praised jihadists; and pumping an estimated $120 million into the local Islamic community since the 1970s to influence its ideological bent. Muslim leaders yesterday backed the move by the Saudi embassy's cultural mission, which is responsible for the nation's students in Australia.. ..'Radicalisation is already taking place in this country,' Mr Ali told The Australian. 'This (influx) will add to the momentum of radicalisation.' 'So I think it's a good measure by the cultural mission not to allow them to congregate in one place because they are coming from a very orthodox, conservative Islamic background. It's better to scatter them, so that they can acclimatise to the general environment of this country and mix with the other students'.." [more]

Saudi Arabia's Sovereign Ratings Raised [Feb 26]
"Capital Intelligence, the international rating agency, today announced that it has raised Saudi Arabia's long-term foreign currency and local currency ratings to AA- from A+ and its short-term foreign- and local-currency ratings to A1+ from A1. The outlook for Saudi Arabia's ratings is stable. The upgrade reflects the continued strengthening of the public and external finances along with improved prospects for faster economic growth over the medium to long term. As the world's largest producer and exporter of crude oil, Saudi Arabia has benefited greatly from the upward movement in oil prices over the past five years.." [more]

Industrialists Welcome Saudi Ministry Decision [Feb 26]
"Saudi industrialists have welcomed the Ministry of Labour decision reducing Saudisation quotas at
manufacturing industries from 30 to 20 per cent. The decision also grants incentives with regard to recruiting foreign manpower in this sector. It stipulates that the quota of Saudis working in these factories should never be less than 15 per cent in the first two years of operation, or three years from the date of granting licence to the factory. 'The decision is an encouraging measure for increasing the productivity of this sector which constitutes 80 per cent of the volume of Saudi industry'.." [more]

Opec Set to Fine-tune Oil Output to Match Demand [Feb 26]
"A seasonal drop in demand will lead Opec to curb oil shipments unofficially in the short term, even if it
leaves its formal target alone, officials from producer nations and executives said. Oil at near $100 a barrel has piled the pressure on the Organization of the Petroleum Exporting Countries to refrain from cutting output when it meets in Vienna March 5.. ..But demand in April and May was expected to fall because of refinery maintenance in Asia which receives more than half of the crude exports from top Opec producer Saudi Arabia. Some producers especially in the Gulf will have to trim back only because customers are in turnaround and can't take it, the oil executive said. Ministers have said repeatedly they respond to fundamentals of supply and demand. Pumping more oil when the market does not require it will not offset the speculative buying they say has been largely responsible for inflated prices.." [more]

Academic Gets Jail, Lashing for Illegal Seclusion with Girl [Feb 26]
"The General Court here sentenced a prominent academic to eight months in prison and 180 lashes after he was found guilty of being in illegal seclusion with a girl. Staffers of the Commission for Promotion of Virtue and Prevention of Vice had caught the academic with the girl in a café. The academic's lawyer Abdullah Al-Sanousi claimed his client was framed and appealed to the National Human Rights Association and National Human Rights Society to back his plea for reviewing the case.. ..According to Al-Sanousi, his client had drawn the ire of some of the Commission's staffers for speaking at length during a training course about how important it was for them to deal nicely with the public.." [more]

Saudi Arabia Plans Big Hike in Refining Capacity by 2013 [Feb 26]
"Saudi Aramco plans to go ahead with three new refineries that may not all reach full capacity until 2013, a company official said today. Aramco will add 400,000 barrel-a-day refineries in Ras Tanura, Yanbu and Jubail, taking Saudi Arabia's total refining capacity to 3.29 million barrels a day, Mahdi al-Adel, Senior Manufacturing and Planning Engineer at the existing Ras Tanura refinery, said at a conference in Abu Dhabi. 'Ras Tanura is expected on stream in December 2012,'' al-Adel said after the event, clarifying his presentation and correcting his earlier statement that the refinery may be delayed until as late as 2014. "It may take a month or two to reach full capacity, so we can comfortably say that Saudi Arabia's new capacity will all be on stream in 2013.' Saudi Arabia, the world's largest oil producer, is planning to raise refining capacity by 50% to provide fuel oil and gasoline for soaring local demand, and benefit from exporting high-value oil products.." [more]

Saudi Arabia Brings Down Job Quota for its Nationals [Feb 25]
"Inability to find local workers has forced Saudi Arabia to reduce the job quota for its nationals in certain sectors. Jobs reserved for Saudis have been reduced from 30 per cent to 20 per cent in industries like foodstuffs, beverages, textiles, readymade garments, shoes, furniture and paper. The decision taken last week by the Saudi Minister of Labour Ghazi Al-Gosaibi also requires that the quota of Saudis working in these factories does not fall below 15 per cent in the first two years of operation, or three years from the date of licensing.. ..'Saudization is a national demand, I agree, but dealing with unqualified Saudi labour in a downstream industrial project can be costly,'.." [more]

Dropping Gulf Dollar Peg Would Ease Inflation: Greenspan [Feb 25]
"Former Federal Reserve Chairman Alan Greenspan said on Monday near-record Gulf Arab inflation would fall 'significantly' were the oil producers to drop their dollar pegs, in contradiction to Saudi policy. The pegs restrict the Gulf's ability to fight inflation by forcing them to shadow U.S. monetary policy at a time when the Fed is cutting rates to ward off recession and Gulf economies are surging on a near five-fold jump in oil prices since 2002.. ..'In the short term free floating ... will not fully dissipate inflationary pressure, although it would significantly do so,' Greenspan told an investment conference in Jeddah, Saudi Arabia's second-largest city.." [more]

Saudi Arabia, France Sign Cooperation Agreement to Combat Terrorism, Money Laundering [Feb 25]
"Interior ministers of Saudi Arabia and France have signed a security agreement to combat terrorism, the official news agency reported Monday, amid the European country's efforts to take a higher profile in the Middle East. Saudi Interior Minster Prince Nayef bin Abdel Aziz and visiting French Interior Minister Michele Alliot-Marie signed the agreement after brief discussions Sunday night.. ..France has long-standing military cooperation accords with other countries in the Persian Gulf region, including the United Arab Emirates and Qatar and a little over a month after becoming one of the first Western countries other than the U.S. to have a base in the Persian Gulf region.." [more]

WTO Integrates KSA in World – Turki [Feb 25]
"Throughout history, the Mideast has been of great economic and cultural importance, Prince Turki told the JEF 2008. Now as a member of the WTO with a powerful economy, the Kingdom has again become a major cog in the world economy, opening its doors to international investment to foster development and communication, he said.. ..Segueing to other aspects of his chosen theme, Al-Faisal stressed the importance of economic growth in the Arab world, in particular, that of Saudi Arabia. 'Economic growth in all sectors of the economy is vital,' he said, 'as it creates more opportunities on various fronts. Saudi Arabia is open for business across the board, not just in the oil sector.'.." [more]

Businessmen Sign $417 mln in Saudi Deals [Feb 25]
"A delegation from the All Industrialists and Businessmen's Association (TÜMSİAD) signed $417 million in trade agreements during a visit to Saudi Arabia last week. Önder Matlı, president of TÜMSİAD's Bursa branch, said they had completed several deals and that the visit had proved more fruitful than they had expected. He noted that 33 members participated in the business trip, which aimed to establish trade channels and cooperation.. ..The delegation signed an agreement with the Jeddah Chamber of Commerce and Industry and the Turkish businessmen in the delegation signed agreements worth nearly $417 million with various Saudi companies. Matlı said the visit also paved the way for further business and trade deals and cooperation.." [more]

Saudi Leads Gulf Losers [Feb 25]
"Shares in Saudi Arabia, the Gulf's largest stock market, closed lower yesterday, reversing an eight-session winning streak that saw it add 17%.. ..Saudi shares were down 2.1% to 10121.23 at close, led by Saudi Electricity, down 4.8% at 14.75 riyals and Saudi Basic Industries Corp, or Sabic, down 3.3% at 177.75 riyals. Investors are booking gains after the market closed higher in the last eight straight sessions.." [more]

Breast Cancer Alarm Prompts Saudi-US Course for the Cure [Feb 25]
"Every woman after 40 years must be screened for early breast cancer detection (mammogram), as the incidence rate of this dreaded disease appeared to be alarmingly high in Saudi Arabia, said Dr. Yousef A. Al-Jehani, member of Saudi Cancer Society (SCS).. ..Dr. Al-Jehani was speaking at a press conference in Riyadh Saturday held at King Fahd Medical City to announce the launch of Course for the Cure, which is considered as the milestone of the US-Middle East Partnership for Breast Cancer Awareness and Research in Saudi Arabia. The Saudi-US Partnership that unites leading breast cancer advocates from Saudi Arabia and the US to reduce breast cancer incidence and increase early detection of the disease, came as a result of high-level government contacts both in Saudi Arabia and the US including King Abdullah, Princess Hessa Bint Tarrad Al-Sha'lan and Prince Faisal Bin Abdullah, (honorary SCS president) and Laura Bush (US First Lady).." [more]

Abdullah Welcomes Mubarak [Feb 25]
"Custodian of the Two Holy Mosques King Abdullah held wide-ranging talks with Egyptian President Hosni Mubarak in Riyadh yesterday to discuss their positions on a range of bilateral and regional issues, including the next Arab Summit to be held in Damascus, Syria, on March 29-30. The talks primarily focused on Lebanon’s political standoff, the siege imposed on the Palestinian people and the continuing Israeli aggression.. ..'By deciding their level of participation in the summit, both regional powers — Saudi Arabia and Egypt — are setting the tone for many Arab countries, which are likely to follow suit,' said a report published in Al-Riyadh Arabic daily yesterday. 'Ahead of his visit to Riyadh, Mubarak stressed the importance of his alliance with Saudi Arabia and the Saudi people,' said the report.." [more]

Women Take 58% Seats in Universities, Says Anqari [Feb 25]
"Fifty-eight percent of students in higher education departments of Saudi universities are now women, Higher Education Minister Dr. Khaled Al-Anqari stated yesterday. 'This is a record rate for women’s higher education in the region. Forty years ago Saudi women had no opportunity to conduct post-graduate studies within the country,' the minister said, speaking to reporters after signing an agreement on an executive program for higher education with his Egyptian counterpart Dr. Hani Mahfouz Hilal. Al-Anqari also said that there was considerable increase in the number of Saudi girls in all levels of education. He attributed this increase to rising awareness and progress in education in the country.." [more]

FPCCI President to Lead Trade Team to Saudi Arabia [Feb 24]
"FPCCI President Tanvir Ahmad Sheikh would lead a trade delegation to Saudi Arabia to attend the Pak Saudi Investment Conference and Seminar being organised by Investment Division and Board of Investment of Pakistan with the coordination of Embassy and Consulate General of Pakistan in Riyadh and Jeddah, Federation of Pakistan Chambers of Commerce and Industry and Council of Saudi Chamber of Commerce and Industry.. ..The purpose of the investment conference is to promote Pakistan’s economic policies to generate Saudi investment in various economic sectors.." [more]

Saudi 2008 Inflation Unlikely to Fall [Feb 24]
"Inflation in Saudi Arabia, which hit at least a 27-year high last month, is unlikely to fall this year as a
housing shortage spurs rent rises and government spending causes bottlenecks, the central bank deputy chief said. Revaluing the Saudi riyal, which has been fixed to the dollar at the same rate for 22 years, would not necessarily help reduce inflation because the imported element in limited, Muhammad Al Jasser, Vice Governor of the Saudi Arabian Monetary Agency told Reuters in Dubai on Sunday. Annual inflation in the world's largest oil exporter rose to 7 percent in January, its highest since at least 1981. Rents jumped almost 17 percent.." [more]

Cut to Saudi Benchmark Lending Rate Doubtful [Feb 24]
"The Saudi central bank is unlikely to cut its repurchase rate, the benchmark lending rate, in response to further easing by the US Federal Reserve as it seeks to stem money supply growth, the vice governor said. With its riyal pegged to the dollar, the world's largest oil exporter has been striving to track US monetary policy as the Federal Reserve slashes interest rates to help ward off recession while the Saudi economy surges.. ..The central bank has soaked up liquidity by raising reserve requirements twice since November to force lenders to keep more money in their vaults in a bid to slow down credit growth, another trigger of inflation. Its reverse repurchase facility 'is also mopping up some liquidity', Al Jasser said, without giving details.." [more]

Saudi Minister Meets US Business Leaders [Feb 24]
"The Governor of the Saudi Arabia General Investment Authority (SAGIA) His Excellency Amr Al Dabbagh was joined in Boston this week by Massachusetts State Treasurer Tim Cahill and a dozen academic and business leaders to discuss cooperation and business opportunities between Saudi Arabia and the US. The meeting was hosted by Bruce Fenton, President of Atlantic Financial Inc., an investment company that focuses on the Middle East region. Governor Dabbagh highlighted SAGIA’s construction of six economic super cities and discussed the many economic incentives available to US based companies who might be interested in business opportunities in Saudi Arabia.. ..Governor Dabbagh highlighted the desire for Saudi corporations to draw on the expertise of US firms and the ways in which Saudi Arabia can benefit US companies as consumers and as a source of consumption, capital and a gateway to the region.." [more]

Petrochemical Firms Pace Rise in Saudi Shares as Oil Prices Surge [Feb 24]
"Saudi Arabian stocks gained for the eighth straight trading session, led by Saudi Kayan Petrochemical Co and Yanbu National Petrochemicals Co as energy companies benefited from this week's record oil price. The Tadawul All Share Index rose 2.1% to close at 10336.06, the highest since January 21. The oil prices soared to $100 a barrel this week, which forced investors' confidence in the local economy and in the performance of Saudi companies, particularly in the petrochemical sector, Bakheet Investment Group said in a weekly report posted on its website after the close of trading on Wednesday.." [more]

Saudis Pull Out 18b Riyals in Investment From Lebanon [Feb 24]
"Businessmen have revealed that Saudi investments worth more than 18 billion Saudi riyals have been withdrawn from Lebanon. At the same time, the number of Lebanese been recruited to work in the kingdom has also come down, they said in a statement.. ..He attributed this to what he called 'the fallback in the confidence of the future of the Lebanese economy' following the escalation of the political crisis and lack of security. He noted that the deteriorating situation in Lebanon has caused frustration among investors.. ..Observers are expecting the number of Saudis travelling to Lebanon to come down sharply due to the security situation in Lebanon.." [more]

Justice Ministry to Appoint Spokesperson in Wake of Qatif Girl Case [Feb 24]
"Ministry of Justice will soon be more accessible to the media. A source at the ministry said it is planning to appoint an official spokesperson to preempt rumors.. ..The source said the idea of nominating a spokesperson came up after the media outcry over what has come to be known as the Qatif Girl.. ..The source said that following the upheaval triggered by the case, the Ministry is leaning towards appointing an official spokesperson to nip rumors and "fabricated" Ministry news in the bud.." [more]

SIHS Sends First Group of Students for US Training [Feb 24]
"The Saudi Institute for Health Services (SIHS) announced yesterday that a first batch of Saudi medical
students have joined Miami Dade College in the United States under a partnership deal signed by the two institutions in 2007. SIHS is a non-profit organization established five years ago with the aim of guiding Saudi youth toward better employment opportunities in health care. “This is done by offering invaluable educational and medical training for high school graduates in Jeddah,” said a statement issued by the institute. SIHS currently provides four intensive medical programs including optometry, radiology, nursing and health administration, delivered by highly committed and qualified staff.." [more]

Blogger’s Family Urges Authorities to Allow Prison Visits [Feb 24]
"The family members of the detained Saudi blogger Fouad Al-Farhan said yesterday that although Saudi authorities allowed Al-Farhan for the first time to make a telephone call from Jeddah’s Dahban Prison on Feb. 12 they would still like to continue to visit him.. ..Maj. Gen. Mansour Al-Turki, spokesman for the Interior Ministry, told Arab News earlier this month that there is no update on the Al-Farhan case other than the ministry’s previous statement that the blogger was being held for 'interrogation for violating non-security regulations.' Al-Turki would not clarify exactly why Al-Farhan was being held and whether it was in connection with his blog www.alfarhan.org. Al-Turki was unavailable for comment yesterday.." [more]

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