|
~~~~~~~~
[ Mar 29] ~~~~~~~~~
Saudi
Arabia Slams Syria Over Lebanon Crisis [Mar 29]
"Saudi Arabia's Foreign Minister slammed Syria for
obstructing Lebanese peace efforts and called on the Arab League
Saturday to punish member states that don't honor the group's
consensus decisions. In a press conference broadcast live on some
Arab TVs during the Arab League summit's opening session in
Damascus, Prince Faisal said from Riyadh that 'the kingdom has
never boycotted a summit before.' He blamed his boycott on Syria,
and implicitly blasted the country for worsening most of the
crisis in the Middle East, especially in Lebanon. 'Syria is a
country that is crucial to joint Arab efforts,' Faisal said. He
blamed Damascus for not abiding by an Arab consensus over how to
solve the lingering presidential crisis in Lebanon.." [more]
Lifting
Ban on Women Driving Will Bring Economic Windfall: Experts [Mar
29]
"As women’s rights groups continue to steam ahead in full
speed petitioning for the reversal of the ban on women’s driving
in the Kingdom, experts on the issue conclude that the move, if
successful, would not only lift the ban itself but the Saudi
economy as well. 'Overall, lifting of the women driving ban in
Saudi Arabia is expected to have a major effect on the local
economy in three different ways,' said Dr. John Sfakianakis, chief
economist at the Saudi British Bank (SABB) in Riyadh. 'First, by
putting a large portion of house drivers out of work and
increasing the purchasing power of Saudi families; secondly by
causing a shift in the ownership of vehicles; and thirdly by a
trickle down of additional vehicles being sold to women
translating into greater opportunities of opening up new
markets.'.." [more]
Seven
Firms Vie for $1bn Saudi Quay Contracts [Mar 29]
"Seven international and Saudi companies are expected to
submit bids for two contracts worth more than $1 billion to start
construction on a petrochemicals quay in Jubail, Saudi Arabia,
London-based MEED reported, without citing a source. The quay at
King Fahd Industrial Port is being developed to help cope with the
massive amounts of petrochemical products due to come on stream
nearby over the next three years, the magazine said. The companies
bidding for the quay's first-phase construction work, with an
April 20 deadline, include China Harbour Engineering Co, Belgium's
Jan de Nul and the Netherland's Van Oord and Royal Boskalis
Westminster.." [more]
Gulf
Not Ready for Currency Reform [Mar 29]
"A sinking dollar, soaring inflation and US interest rate
cuts may appear to make a convincing case for Gulf currency
reform, but the oil producers are not quite ready to tinker with
their dollar pegs. Concerns over the future of their dollar
assets, fears about what a move would mean for their alliance with
Washington and questions over how effective any new currency
regime would be in controlling inflation are causing central banks
to tread softly. With Gulf states preferring to act together on
currency policy as they prepare for monetary union, investors
betting on revaluations could have to wait a year or more before
they are vindicated.." [more]
Saudi
Investors Adopt Wait-and-See Approach [Mar 29]
"Saudi shares appeared in a consolidation phase last week
though the trading volume was the lowest since June 2006. “This
reflects the wait-and-see approach of investors who are eying the
first quarter results,” said the weekly report of the
Riyadh-based Bakheet Investment Group (BIG). The Tadawul All-Share
Index (TASI) was down 0.7 percent, closing week at 9,418.32 points
from 9,488.85 points previous week. TASI is currently 15.7 percent
lower from the year’s start. The stock market turnover, however,
increased to SR38 billion last week compared to SR29.64 billion in
the previous week.." [more]
~~~~~~~~
[ Mar 28] ~~~~~~~~~
Arab
Summit Conspicuous for its Absentees [Mar 28]
"According to the Baath Party, rulers of Syria for 43 years,
Damascus is the "beating heart" of pan-Arabism, the
center of Arab 'unity and dialogue' and the place to 'close ranks'
and 'confront foreign plots' aimed at dividing the region. But
when the Syrian capital hosts its first meeting of the Arab League
this weekend, the 22-nation organization's annual event will be
marked by snubs by leaders of regional heavyweights Saudi Arabia
and Egypt. 'We hope that the ice will melt between Syria and Saudi
Arabia,' the Saudi ambassador to the Arab League, Ahmad al-Qattan,
told reporters in Damascus after announcing that Saudi King
Abdullah would not attend the summit.. ..Some analysts say many
Arab states are increasingly concerned over Syria's deepening
military and political ties to Iran, whose Shiite Muslim rulers
are seen as trying to dominate the Sunni-majority Middle
East.." [more]
Palestinians,
Israelis React Differently to Saudi Plan [Mar 28]
"While most Palestinians support a peace agreement proposed
by Saudi Arabia, the majority of Israelis reject it, according to
a poll by the Palestinian Center for Policy and Survey Research
and the Harry S. Truman Research Institute for the Advancement of
Peace at the Hebrew University of Jerusalem. 66 per cent of
respondents in the West Bank and Gaza Strip would back the
comprehensive plan, while 57 per cent of Israelis would oppose it.
Saudi Arabia has proposed the Arab Peace Initiative (API) to
reconcile Israel and the Palestinians. The plan states that Israel
will retreat from all territories occupied in 1967 including the
Gaza Strip, the West Bank, Jerusalem and the Golan Heights, and a
Palestinian state would be established.." [more]
Donohue
to Meet with His Highness King Abdullah of the Kingdom of Saudi
Arabia [Mar 28]
"U.S. Chamber of Commerce CEO Tom Donohue will travel to the
Kingdom of Saudi Arabia at the end of the week to meet with His
Highness King Abdullah bin Abdul Aziz as well as other key
government and business leaders in the region.. ..While in the
Kingdom, Tom Donohue will encourage Saudi business leaders and
economic decision makers to more clearly articulate to U.S.
investors the real opportunities for increasing engagement in the
region's largest economy. Much of his attention will focus on the
non-oil sectors, as Saudi Arabia has seen non-oil growth at almost
6% for three consecutive years. Beyond that, he will stress the
need for the U.S. government to enact a simple and rational U.S.
visa policy for Saudi business travelers to the U.S. Donohue will
also highlight the Chamber's current fight against the
protectionists in the U.S. Congress who seek to discredit and undermine
trade deals, erect roadblocks to foreign investment and global
sourcing, and want to turn the clock back on progress.." [more]
Arab
Foreign Ministers Agree to Relaunch Peace Initiative [Mar 28]
"Arab foreign ministers meeting in Damascus on Thursday
agreed to relaunch the Arab peace initiative without any
amendments. Syrian Foreign Minister Walid Mua'alem had earlier in
the day hinted that the initiative could be reconsidered. 'We
agreed on maintaining the Arab peace initiative and there is no
intention on the ministers' part to change it,' Mohammad Sobeih,
Arab League assistant secretary general for Palestinian affairs,
was quoted as saying by Reuters. 'The initiative will be
relaunched to the international community in order to stress Arab
concern for finding a solution to the Arab-Israeli
conflict,'.." [more]
Turkish
Parliament Speaker to Visit Saudi Arabia [Mar 28]
"Turkish Parliament Speaker Koksal Toptan will travel to
Saudi Arabia on Saturday at an invitation from Saudi Shura Council
Chairman Saleh Bin Abdullah bin Hamid. Toptan's schedule will take
start by attending General Assembly session of the Saudi Arabian
Shura Council on March 30th. Toptan will later meet Saudi Arabian
Crown Prince Sultan Bin Abdulaziz al-Saud and attend dinner to be
hosted in his honor.." [more]
Kingdom
to Build Solar Energy Plant [Mar 28]
"Swicorp Joussour Company, a Saudi joint stock company
capitalized at SR2.67 billion ($712 million) launched by Swicorp,
announced that it has partnered with Chemical Development Company
(CDC) of Saudi Arabia, and NorSun of Norway to invest in the
construction of a polysilicon plant in the industrial city of
Jubail.. ..In the Middle East, alternative energy is a new area of
interest, which has gained recent attention due to the pressing
need for economies to look toward diversified energy sources for
future generations.." [more]
US
Urged to Review Saudi Student’s Case [Mar 28]
"Shoura Council Chairman Dr. Saleh Bin-Humaid has urged US
authorities to review the case of Homaidan Al-Turki, a 37-year-old
Saudi student who was found guilty in a Colorado state court of 12
counts of sexually assaulting his Indonesian maid. 'The Saudi
people sympathize with Homaidan Al-Turki and they closely follow
up his case,' the Shoura chief said and hoped for a speedy end to
the issue. He also emphasized the Kingdom’s respect for American
justice. Al-Turki, a former Ph.D. student at the University of
Colorado, maintains that he did not sexually assault the woman,
whose identity has not been disclosed due to the nature of the
alleged crime, and has accused US officials of persecuting him for
'traditional Muslim behavior'.." [more]
Can We
Get to the Polls on Time? [Mar 28]
"It is “that time of the year” again. Nearly four years
ago, my country Saudi Arabia ventured into its first political campaign to elect members for its 178 municipal councils
(MC) Kingdomwide. Four years ago we got away with operational and
scheduling delays because of our inexperience in the democratic
processes of campaigns and elections; today, local and
international eyes are turning toward us to see if we will fall
into the same pitfalls. The question I ask myself time and again
is: Are we?.. ..the fact remains that Saudi Arabia is committed to
its agenda of political reform. The mere creation of 178 MCs in
2005 — and by popular vote — is a living proof of that
commitment. The challenge for us now is to make this commitment
sustainable and worthwhile.." [more]
~~~~~~~~
[ Mar 27] ~~~~~~~~~
Syria
Calls on Saudi Arabia to Help on Lebanon [Mar 27]
"Syria called on Saudi Arabia on Thursday to exercise its
influence on Lebanon's pro-Western governing coalition to solve the country's political crisis, which has left
it without a president since November. Beirut's government, which is backed by countries including the
United States and Saudi Arabia, has been locked in a power
struggle since November 2006 with an opposition alliance backed by
Syria and led by Hezbollah -- a group also sponsored by Iran.
Simmering tension between Saudi Arabia and Syria over Lebanon has
boiled over in the run-up to an Arab summit that opens in Damascus
on Saturday. Saudi King Abdullah, Egyptian President Hosni Mubarak
and Lebanon refuse to attend in protest against what they consider
Syrian meddling in its neighbour.." [more]
Church
Body Backs Talks With Muslims [Mar 27]
"A day after King Abdullah, Custodian of the Two Holy
Mosques, called for a Muslim consensus on a dialogue with
Christianity and Judaism to end inter-faith tension, the World
Council of Churches urged its members to open a dialogue with
Muslim scholars. The Geneva-based WCC said it wanted to organize
discussions on theology and ethics with signatories of A Common
Word, a call for Christian-Muslim dialogue issued by 138 Islamic
scholars last October and welcomed by many Christian churches. 'We
are encouraging our churches to consider this invitation offered
by the Muslim leaders as a new opportunity for inter-religious
dialogue,'.." [more]
Activist
Proposes National Conference on Human Rights [Mar 27]
" A local human rights activist has called on Saudi officials
to hold the Kingdom’s first conference for human rights
activists to network and share their experiences. Ibrahim Al-Miqitib,
an independent Saudi human rights activist who is now with the
government-run Human Rights Commission (HRC), said that the
conference would serve as a platform for activists from across the
Kingdom to come together.. ..Since non-governmental organizations
(NGOs) — not including charities — are not permitted to
operate in the Kingdom, activists do not have a proper venue to
challenge human rights issues. Nevertheless, last December the
Shoura Council approved a first draft bill permitting the
establishment of NGOs. The bill was then submitted to the Cabinet
for final approval.."[more]
Russia
Set to Hold WTO Talks With Kingdom [Mar 27]
"Russia’s finance minister said on Tuesday he was planning
to hold a series of 'constructive talks' with the United Arab
Emirates and Saudi Arabia on Russia’s accession to the WTO in
early April. Russia has been seeking membership of the WTO since
1993. So far, it has completed bilateral talks with over 60 states
but still needs to finalize discussions with Saudi Arabia, the
United Arab Emirates and Georgia - the WTO members that still have
trade disagreements with the country.. ..He also said that during
his upcoming visit to the United States (to attend the spring
session of the International Monetary Bank and the World Bank), he
was due to meet with US Trade Representative Susan Schwab and US
Department of Commerce officials to discuss Russia’s admission
to the WTO.." [more]
Saudi
Arabia to Back Sri Lanka Health Sector Development [Mar 27]
"Sri Lanka Health Ministry said the Kingdom of Saudi Arabia
has agreed to provide 86 million Saudi riyal (Approximately 2.8
billion rupees) to build a Epilepsy Hospital and a Neuro-Trauma
centre at the Colombo National Hospital. The funds are to be
provided by the Saudi Funds for Development as a soft loan of 75
million riyal to build the Epilepsy Hospital and as a
supplementary loan of 11 million riyal to build the Neuro- Trauma
centre.." [more]
Domestic
Tourism in Saudi Arabia Expected to Reach SR101.3bn in 2020 [Mar
27]
"Domestic tourism in Saudi Arabia is expected to record
phenomenal growth rates. According to a recent report by the Saudi
Arabian Monetary Agency (SAMA), total income from domestic tourism
is forecasted to reach SR73.3bn in 2010 and SR101.3bn in 2020..
..Dr. Ahmed Al-Khalifa, SAMA secretary-general said that tourism
accounted for 3% to the country's GDP in 2006.. ..Dr. Al-Khalifa
stated that more than 342.000 employees are working in tourism
sector in the Kingdom in areas related to hotels, resorts,
furnished apartments, cafes, travel agencies, transportation and
entertainment.." [more]
Analysts
Attempt to Unravel Mystery of Rising Oil Prices [Mar 27]
"The rise in oil prices is a puzzling issue for observers,
which is evident in their largely varying and sometimes contradicting analyses. The Organisation of Petroleum
Exporting Countries (Opec) does not see any reason for oil prices
to exceed $110 per barrel, while the US is pressurising
oil-producing countries to increase production at a time when
there is a balance between supply and demand in global markets.
There are many mysteries facing oil observers and experts. The
latest of these analyses came from the World Monetary Fund and
attributed the rise in oil prices to hectic speculations in global
markets.." [more]
Banking,
Industrial Stocks Drag TASI Down [Mar 27]
"The Saudi stock market fell yesterday after making its
biggest one-day gain since March 4 on Tuesday. There was no major
impact from a minor technical glitch in the Tadawul settlement
system. The Tadawul All-Share Index (TASI) closed 88.59 points
lower at 9,418.32. The Tadawul announced that a temporary
technical problem in the Tadawul settlement system caused it to be
unable to properly receive orders and execute deals for eight
minutes from 12:01 noon yesterday. The cause of the problem was
identified and has been rectified, and trading resumed normally at
12:09 noon. There was no impact on any executed deals.." [more]
~~~~~~~~
[ Mar 26] ~~~~~~~~~
Religious
Leaders Welcome Saudi Proposal [Mar 26]
"Several Jewish, Christian and Muslim leaders reacted warmly
to a proposal for dialogue among the religions by King Abdullah of
Saudi Arabia, welcoming the overture from the leader of the strict
Muslim country as a major development in interfaith relations.
Specifics of the initiative, including whether Israelis could take
part, remained unclear — leading some to caution against too
much optimism. Abdullah's proposal comes at a time of stalled
peace negotiations and heightened Middle East tension. It also
comes amid Muslim anger over cartoons published in Europe seen as
insulting the Prophet Muhammad and in the wake of the pope's
controversial baptism of a prominent Muslim convert.." [more]
Positive
Outlook for Saudi and GCC Equities [Mar 26]
"Speaking at the Second Annual Forecast dinner hosted by the
Bahrain CFA (Chartered Financial Analyst) Society, Mohamed Seif-Elnasr,
Managing Director of Asset Management at NCB Capital (the
investment arm of the National Commercial Bank - the biggest bank
in Saudi Arabia), expressed a positive outlook on GCC and Saudi
equities for 2008.. ..Favourable demographics, a large domestic
market, companies moving up the value chain, the deregulation of
industries, focus on education and improved utilization of state
wealth were pointed out as factors that are helping the region to
capitalize on the economic prosperity and driving growth
forward.." [more]
Clemency
Sought in Saudi for Canadian [Mar 26]
"Canadian Public Safety Minister Stockwell Day appealed to
Saudi officials in Riyadh Wednesday for clemency for a Canadian
sentenced to death. Officials in Day's office told the Canadian
Broadcasting Corp., the minister's Middle East tour included a
meeting to seek clemency for Mohammed Kohail, who this month was
sentenced to public beheading for his role in a school brawl last
year in which a Saudi youth was killed. Spokeswoman Melisa Leclerc
said Day would express Canada's displeasure with the sentence for
the 23-year-old Montreal native.. ..The sentence issued under
Islamic Shariah law carries a 30-day window for appeal but Mahmoud
Al-Ken, a friend of the Kohail family told CBC News that option
didn't offer much hope.." [more]
Saudi
Arabia to Develop Ports [Mar 26]
"The President of Saudi Arabia's General Ports Authority said
that the entity will develop the kingdoms seaports with new investments to bring them on par with their
international counterparts, Arab News reported. He added that the
Kingdom is eyeing an investment of $8 billion on modernizing and
equipping all of its ports. Saudi Arabia has eight seaports, six
of which are commercial and two industrial. The location of the
ports on the Red Sea and the Gulf makes the Kingdom a central
commercial hub for the Middle East, North Africa and Central
Asia.." [more]
Saudi
Arabia, Sudan Agree to Exploit Red Sea Treasure [Mar 26]
"Sudan and Saudi Arabia signed an agreement to reactivate a
deal signed in 1974 on the joint exploitation of valuable mineral
riches in the Red Sea. Under the protocol which was signed in
Khartoum on Tuesday by Sudanese Minister of Energy and Mining Al-Zubair
Ahmed Hassan and Saudi Minister of Petroleum and Mineral Resources
Ali Bin Ibrahim Al-Naimi, the parties agreed to form committees to
enforce the agreement. The search for (the Red Sea treasure),
which began in 1974 during the era of former Sudanese President
Jaafar Numeiri confirmed the existence of this treasure, which
contains large amounts of gold and precious metals which are
priceless.." [more]
Experts
Call to Rein in Domestic Violence [Mar 26]
"Experts are warning against an alarming increase in attacks
against women, children and the aged in the Saudi society.
Following a recently-concluded awareness campaign against domestic
violence, they called for serious efforts to curb the menace. The
warning came at a time when the Ministry of Social Affairs has
issued a report outlining the unpleasant level of domestic
violence against women and children in the Kingdom.. ..Of the
domestic violence involving women, 48 per cent of the victims were
between the ages of 19 and 35. The percentage of minors and babies
subjected to violence during the same period accounts for 17 per
cent, while cases of the aged stood at 4 per cent. The report
blamed parents and husbands as major culprits.." [more]
Riyadh
Seeks Private Investment in Tourism [Mar 26]
"Saudi Arabia is aiming at attracting more private
investments in the tourism sector as a source of revenue and
economic growth. Speaking at the Saudi Travel and Tourism
Investments Market, organised by the Supreme Commission for
Tourism, Riyadh Governor Prince Salman Bin Abdul Aziz said
religious tourism in particular is an important sector that is
unique to Saudi Arabia.. ..He invited businessmen to invest in
developing the tourism sector, saying such investments are not
only viable but also secure and safe.." [more]
A
Summit Only in Name [Mar 26]
"It is a sad fact that the fate of the Arab Summit, scheduled
to be held in Damascus next week, is already doomed to failure.
The absence of key Arab leaders from this annual event can only be
interpreted as a political indictment of the host country over its
policies, especially in Lebanon. Few observers pin high hopes on
its outcome and, in light of the tenuous regional reality, the
event will add to the sense of gloom and despair permeating
through the Arab world today. It is a summit only in name, with
many Arab leaders choosing to skip the event and opting to send
deputies. The message is clear but Syria has chosen to take the
risk of organizing a botched event rather than yielding to Arab
demands over Lebanon. If anything, the Syrian position reflects on
its own internal predicament and the way it sees looming
challenges.." [more]
~~~~~~~~
[ Mar 25] ~~~~~~~~~
Saudi
King Calls for Interfaith Dialogue [Mar 25]
"The Saudi king has made an impassioned plea for dialogue
among Muslims, Christians and Jews — the first such proposal
from a nation with no diplomatic ties to Israel and a ban on
non-Muslim religious
services and symbols. The message from King Abdullah, which was
welcomed by Jewish, Christian and Muslim leaders, comes at a time
of stalled peace initiatives and escalating tensions in the
region.. ..The call — the first of its kind by an Arab leader
— was significant. The Saudi monarch is the custodian of Islam's
two holiest shrines in Mecca and Medina, a position that lends his
words special importance and influence. Abdullah said Saudi
Arabia's top clerics have given him the green light — crucial
backing in a society that expects decisions taken by its rulers to
adhere to Islam's tenets. It also raises the possibility that a
religious dialogue could have a political impact in the Middle
East, easing tensions between Arabs and Israelis in a way that
years of off-and-on negotiations and political conferences have
failed to do.." [more]
Saudi
King to Skip Arab Summit [Mar 25]
"Saudi Arabia said King Abdullah won't attend this weekend's
Arab League summit here, a message of displeasure to the meeting's host that raises already long odds
the gathering will help solve a stalemate in Lebanon. Saudi
Arabia's ambassador to the Arab League said he would represent his
country at the summit of Arab heads of state that kicks off Saturday, instead of
the Saudi king or the country's foreign minister.. ..Saudi Arabia's move makes it less likely that the
Damascus meeting will be able to make much headway on the issue.
It is unclear who Egypt, another Arab heavyweight, will send to
the summit. Even Lebanese participation is in question.." [more]
Saudi
Arabia: Slowly Opening Dialog About Human Rights [Mar 25]
"Saudi Arabia's two-year-old Human Rights Commission. Formed
by a royal decree of King Abdullah Bin Abdul Aziz, the 24-member
commission is a governmental body charged with monitoring the
kingdom's compliance with human rights standards. Its creation was
part of the monarch's reformist agenda, which is trying to
introduce some political and social changes while ruffling as few
feathers as possible among the kingdom's substantial conservative
constituency of both clerics and ordinary folk. The commission,
which reports to the king, is another sign of what some Saudis
describe as an expanding awareness of human rights among the
public and government officials. They cite increased discussion in
the media and private blogs of such issues as child marriage,
domestic violence, and treatment of foreign laborers. 'The big
achievement is that it's no longer taboo to talk about human
rights.'.." [more]
Cheney
Wraps Up Mideast Trip With Little to Show [Mar 25]
"U.S. Vice President Dick Cheney has not made meaningful
headway on the thorny issues of Iraq, the Israeli-Palestinian peace process and the world energy crisis
during his 10-day trip to the volatile Middle East, analysts said. Cheney's tour, which included surprise stops
in Iraq and Afghanistan, and scheduled visits to Oman, Saudi
Arabia, Israel and the West Bank, "won't produce anything
meaningful because he (Cheney) has got nothing to offer,"
Steven Simon, a U.S. expert on Middle Eastern issues, said.
Cheney's trip, which he wraps up Tuesday, has been viewed as a
move to express the U.S.' continued concern over the situation in
the region rather than one aimed at making any tangible
progress.." [more]
Migrante
Asks DFA to Recall Two of its Officials in Saudi [Mar 25]
"A migrant workers advocacy group and six overseas Filipino
workers (OFWs) who managed to return to the country after being
stranded in Saudi Arabia will demand that the Department of
Foreign Affairs (DFA) recall Philippine Ambassador to Saudi Arabia
Antonio Villamor and consul general to Jeddah Ezzedin Tago for
disregarding the numerous complaints by OFWs. Migrante President
Connie Regalado said they will also demand the immediate
repatriation of the OFWs living in tents under a bridge in
Jeddah.." [more]
President
Saleh Arrives in Saudi Arabia Kingdom [Mar 25]
"President Ali Abdullah Saleh arrived on Tuesday in the Saudi
capital Riyadh on an official visit to hold talks with Monarch of Saudi Arabia Abdullah bin Abdulaziz Al Suad..
..'The visit is a chance to coordinate the two countries'
attitudes towards the current developments in the region and the
Arab nation's issues including in the agenda of the Arab summit to
be convened after days in the Syrian capital Damascus', Saleh
said, indicating to the challenges the nation faces, especially in
Palestine, Lebanon, Iraq and Somalia.." [more]
10
Things You Might Not Know About Tourism in Saudi Arabia [Mar 25]
"The Kingdom hopes to earn $27bn from tourism by 2010. Who
needs booze and bikinis?.. ..1. Revenues from domestic are
expected to reach $27 billion by 2010. In 2005, the last time the
authorities totted up the receipts, the figure was $9.5bn. 2.
Tourism contributes 3 per cent of the Kingdom's GDP. 3. 342,000
people are employed in the tourism industry, 15 per cent of which
are Saudi nationals. The Saudization plan asks for 32 per cent.
The aim is to employ 1.5 million people by 2025.." [more]
Experts
Call to Rein in Domestic Violence [Mar 25]
"Experts are warning against an alarming increase in attacks
against women, children and the aged in the Saudi society.
Following a recently-concluded awareness campaign against domestic
violence, they called for serious efforts to curb the menace. The
warning came at a time when the Ministry of Social Affairs has
issued a report outlining the unpleasant level of domestic
violence against women and children in the Kingdom.." [more]
~~~~~~~~
[ Mar 24] ~~~~~~~~~
Saudi
King Abdullah to Stay Away From Arab Summit [Mar 24]
"Saudi Arabia's permanent representative at the Arab League
said on Monday he would represent his country at this week's Arab
summit in Damascus, meaning influential King Abdullah would be
staying away. 'I will head Saudi Arabia's delegation to the
summit,' Ahmad bin Abdelaziz Qattan told reporters after a meeting
of Arab League representatives in the Syrian capital. The
announcement confirmed fears that Lebanon's political crisis would
hit the level of turnout at the summit and undermine the annual
meeting. 'We meet today without a president in Lebanon due to the
continued and unjustifiable delays in the election,' Qattan told
the meeting earlier. Lebanon's parliament speaker Nabih Berri
indicated on Sunday he would put off for the 17th time a session,
this time scheduled for Tuesday, to choose a president due to a
lack of progress toward ending the political deadlock.." [more]
Oil
Falls on Saudi Statements Assuring Increases in Supply [Mar 24]
"Oil fell $1 toward $100 a barrel on Monday, as funds sought
to lock in more first-quarter profits and the top exporter, Saudi
Arabia, reassured consumers of its plans to increase supply in the
coming years.. ..Saudi Arabia said Sunday that it was working to
expand its oil production and refinery capacity in order to
maintain world economic growth, reaffirming its vow to invest tens
of billions of dollars in new wells and infrastructure. 'The
kingdom will work with OPEC countries, other producers and
consuming countries toward oil market stability and to avoid the
effects of harmful speculation,' the Supreme Council of Petroleum
and Mineral Affairs said in a statement after a visit by Vice
President Dick Cheney. On Monday, Cheney, who had met King
Abdullah of Saudi Arabia, said the kingdom had kept its promise to
increase oil production capacity over the past three years.."
[more]
Saudi
Arabia to Help Lanka in Oil Exploration, Refining [Mar 24]
"The Kingdom has agreed to train Sri Lankans in the field of
exploration and refining oil in the island. This was the outcome
of yesterday's talks between Ali Al-Naimi, minister of petroleum
and mineral resources and Abdul Hameed Mohamed Fowzie, minister of
petroleum and petroleum resources development at a meeting held at
the ministry headquarters yesterday.. ..Sri Lanka buys 10 percent
of her oil requirements from the Kingdom and her main supplier is
Iran which delivers 70 percent of the island's demand. Sri Lanka
also buys a substantial quantity of crude from Malaysia. The
minister said that his country has plans to increase its oil
import from 10 to 30 percent in the near future. Fowzie said that
Sri Lanka conducted seismic surveys in 2002 and 2005 that revealed
there are high chances of finding oil in the Mannar Basin which
covers an area of 35,000 km, stretching from Mannar in the North
East to Kalutara in the South.." [more]
Tourism
Investment Conference Opens [Mar 24]
"The first Saudi Travel and Tourism Investment Market 2008 (STTIM)
opened yesterday at Faisaliah Hotel in Riyadh. The four-day
conference is organised by the Saudi Supreme Commission for
Tourism. It is being held under the theme 'Tourism is for Everyone
- Partnership for Sustainable Development' and aims to develop the
tourism industry in the kingdom in relation to accommodation,
services and investment opportunities. The conference brings
together a number of Arab and international speakers to discuss
the investment opportunities and the potential of Saudi Arabia's
travel and tourism market. 'Saudi Arabia is witnessing high growth
in the travel and tourism sector,'.." [more]
Saudi
Uses 11 Planes to Bring Rain to Riyadh [Mar 24]
"Saudi Arabia has started the fourth phase of its program to
extract rain from clouds, part of a project started five months ago to secure more water resources in the
kingdom, recent press reports said. The head of the Meteorological
and Environmental Protection Administration, Saleh al-Shahri, said
11 planes are being used in the current phase, together with a
high-tech network of mobile cloud physics radars, a communication
and satellite network, and experts from various Saudi universities
and research centers. Shahri told Saudi newspaper Al-Riyadh that
the program is part of the kingdom's ongoing efforts to counter
the scarcity of water, especially since ground water is subject to
depletion. He said a unique meteorological phenomenon that happens
in Riyadh province constitutes a major challenge to the cloud
seeding process.." [more]
Saudi
Banks Among Worst Performers in Gulf Region [Mar 24]
"Saudi Arabian banks were amongst the worst performing
lenders in the region last year, according to a
Zawya.com survey of the top 20 listed lenders in the Arabian Gulf.
Five out of six Saudi banks reported a drop in earnings last year,
compared with robust results amongst the banks surveyed by
Zawya.com in the United Arab Emirates, Qatar, Kuwait, Oman and
Bahrain. Saudi British Bank, or SABB, the kingdom’s
third-largest lender by market value, posted the largest drop in
net profits, according to the Zawya.com survey. Earnings at the
bank, an affiliate of HSBC Holdings, fell 14% to $695mn.." [more]
Plan to
Deal With Radiation Hazard Before Shoura Council [Mar 24]
"The Shoura Council has discussed a national plan to deal
with any potential leakage of radioactive material in the Kingdom
following warnings of possible attacks on Iran’s nuclear
reactors.. ..This concern has also been echoed several times by
Foreign Minister Prince Saud Al-Faisal in his meetings with
regional and international leaders. “Riyadh has been of the view
that the Middle East region should be void of weapons of mass
destruction,” said the member, without giving details of the
Saudi plan. A KACST nuclear scientist yesterday confirmed that an
emergency plan to check radioactive leaks is there in place, but
refused to provide details.." [more]
Community
College in Landmark Deal With US Institution [Mar 24]
"The Jeddah Community College (JCC) signed a landmark
agreement with the Louisiana Community & Technical College
System (LCTCS) yesterday, opening a new era in the history of the
college. Professor Ibrahim Kutbi, dean of JCC, which is one of the
colleges of King Abdulaziz University (KAU), said the agreement
that includes an exchange of faculty would lead to improving the
college’s overall performance. Dr. Abdul Ilah Saaty, vice dean,
said the accord covered academic assessment and accreditation,
joint degree programs, faculty development through workshops and
laying the foundation for distance learning. 'We’ll benefit from
the expertise and capabilities of 10 US community colleges in
Louisiana,'.." [more]
~~~~~~~~
[ Mar 23] ~~~~~~~~~
Cheney
Stresses Need For Painful Concessions at Abbas Meeting [Mar 23]
"US Vice President Dick Cheney arrived in the West Bank via
helicopter to hold talks with Palestinian President Mahmoud Abbas
and Prime Minister Salam Fayyad on Sunday. At the meeting, Cheney
said an Israeli-Palestinian peace agreement will require 'painful
concessions' by both sides, but said with hard work 'success will
be achieved'.. ..He added that the US remains 'strongly committed'
to the establishment of Palestinian state, adding that its
achievement will require strong negotiations and concessions from
both sides.." [more]
Saudi
Inflation Hits 27-yr High as Gulf Tracks Fed [Mar 23]
"Inflation in Saudi Arabia surged to a 27-year high of 8.7
percent in February as the world's largest oil exporter and its Gulf Arab neighbours lowered interest rates to
defend pegs to a tumbling U.S. dollar.
Saudi Arabia matched the latest 75 basis point cut by the U.S.
Federal Reserve last week.. ..Unable to use monetary policy, Saudi
Arabia has also resorted to lending curbs and measures such as
subsidies and wage hikes to cushion the impact of surging
inflation, leading markets to bet that it will allow the riyal to
rise against the dollar.." [more]
Saudi
Arabia: Details of Project to Retrain the Kingdom's Imams [Mar 23]
"Saudi Arabia announced earlier this week a new plan to
retrain 40,000 mosque imams in all regions on communication skills and the culture of dialogue. The King
Abdulaziz Center for National Dialogue will carry out the training
in cooperation with the Ministry of Islamic Affairs. The National
Dialogue, which is a project that was launched in 2003 by
Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz, is
considered the largest project designed to achieve ideological
change toward centrism and moderation and away from extremism and
excess. This, in addition to broadening the base of dialogue among
the various groups in Saudi society.." [more]
Saudi
International Ports & Maritime Transport Forum [Mar 23]
"Emaar, The Economic City (Emaar.E.C), the Tadawul-listed
company developing King Abdullah Economic City (KAEC), will
sponsor the first Saudi International Ports & Maritime
Transport Forum (SIPMT) to be held at Hilton Hotel, Jeddah from
March 23 to 25.. ..''The Forum serves as an ideal platform to
highlight the importance of sea transportation and in particular,
the role of Sea Ports to economic growth. As a key component of
the King Abdullah Economic City development, the KAEC Sea Port
will create a new logistics hub on the Red Sea Coast'.." [more]
Work
Afoot on $6b Sovereign Wealth Fund [Mar 23]
"Saudi Arabia is planning to set up a new sovereign wealth
fund worth $6 billion (SR22.5 billion) as its main investment
focus is shifts to domestic projects, the central bank governor
was quoted as saying this week. 'At this stage the sovereign
wealth fund is on the drawing board and it’s not going to be
sizable. It will be around $6 billion only and managed by the
Public Investment Fund,'.. ..The SAMA report said Saudi Arabia’s
main concern is 'to focus on domestic development and
infrastructure, economic diversification and job creation'.."
[more]
Price
Rise: Saudis, Expats Clamor for Govt Intervention [Mar 23]
"Prices of essential commodities and house rents have
increased by 30 to 50 percent, prompting Saudis and expatriates to
call for government intervention to curb the unprecedented
phenomenon and for increasing their salaries to cope with the
situation. 'The government should stop the monopoly of big
companies that supply essential commodities,' Dr. Abdul Ilah Saaty
of King Abdul Aziz University told Arab News. 'Salaries must be
increased further. The five-percent increase in salary is nothing
compared to the price hike.'.. ..Increases in prices and house
rents have forced many expatriate workers to leave the Kingdom
because they could not make both ends meet. Most of them said they
were unable to make any savings and that thus there was no point
in staying in the Kingdom.." [more]
French
Experts Prep Handbook for Preserving Jeddah’s Historic Area [Mar
23]
" A new technical guidebook for renovating Jeddah’s
historic center, known as Balad, is currently being prepared with the help of French consultants, according to a
municipality official.. ..The book, which is due to be completed
in six months, would be provided for free to all contractors
working on the historical area’s renovation projects. Owners of
all buildings in the area have been ordered to renovate their
properties without fail. A committee was recently formed
comprising the regional governorate, the municipality and the
Civil Defense to identify the historical structures in all three
districts of Jeddah’s city center. The committee has informed
the owners of structures that are in poor condition to refer to
the municipality’s Historical Area Department to finalize the
procedures for renovation.." [more]
Saudi
Arabia Says Working to Ensure Oil Supply [Mar 23]
" Saudi Arabia, the world's largest oil exporter, said on
Sunday it was working to expand its oil production and refinery
capacity in order to maintain world economic growth. The Supreme
Council of Petroleum and Mineral Affairs affirmed Saudi Arabia's
desire for oil market stability and maintaining supplies to all
regions (of the world) at all times to ensure continuing global
economic development," a statement said. 'The Council
expressed its satisfaction at the kingdom's work in expanding
crude production and refining capacity to help meet global
demand,' it said. 'The kingdom will work with OPEC countries,
other producers and consuming countries towards oil market
stability and to avoid the effects of harmful
speculation.'.." [more]
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