|
~~~~~~~~ [ Apr 12] ~~~~~~~~~
Saudi Interfaith Summit Faces Challenges [Apr 12]
"A group of visiting Japanese scholars was making a routine courtesy call recently on King Abdullah bin Abdul Aziz when
the monarch raised a subject that, as he put it, had 'obsessed me since two years ago.' Distressed by what he described as
disintegrating family ties, a rise in atheism and 'an imbalance of reason, ethics and humanity,' the king announced plans
for a new interfaith dialogue in which 'believers of the three main religions -- the Torah, Bible and Koran -- will be of
priority.'.. ..The dialogue proposal -- the location, format and agenda are still unknown -- is popular among Saudis who
support the king's reformist agenda of slowly introducing political and social changes. 'It's unprecedented . . . [for] Saudi
leaders to call for dialogue between the three religions,' said Khalil Al
Khalil, a member of the quasi-parliamentary Shura
Council. Hard-line religious figures who might not be happy with Abdullah's plans are mute so far, and there have been
only mildly worded warnings floated to the king.." [more]
Bush to Send Top Diplomats to Arab Capitals [Apr 12]
" The US will send several senior diplomats to Arab states to encourage them to increase their support for Iraq and reopen
their embassies in Baghdad. President George W. Bush commanded Gen. David
Petraeus, the top US commander in Iraq,
and Ryan C. Crocker, the country’s ambassador to Baghdad, to stop over in Saudi Arabia on their way back to Iraq to
persuade Riyadh to render overall support for Iraq, The New York Times reported yesterday. The president also said
Thursday that he had ordered senior American diplomats in the Middle East to meet with leaders in Kuwait, Jordan,
Qatar, Egypt and the United Arab Emirates (UAE) to urge them to reopen their embassies in Baghdad.."
[more]
Top EU Official's Visit Aims to Boost Gulf Ties [Apr 12]
"Benita Ferrero-Waldner, European Commissioner for External Relations and Neighbourhood Policy, will visit Saudi
Arabia, Bahrain and Qatar this week as part of a three-day tour in the Gulf to explore the scope of further engagement
with the region, diplomatic sources told Gulf News. 'During her meetings, the commissioner will discuss areas of common
interest such as the relations between EU and the Gulf Cooperation Council
(GCC), the situation in the broader region and
how to support mutual understanding, and closer cooperation in areas such as education, environment and research,' the sources said. Strengthening energy cooperation between the EU and Gulf countries will also be high on the agenda.."
[more]
King Abdullah Receives Senegalese President [Apr 12]
"The Custodian of the Two Holy Mosques King Abdullah Bin Abdul Aziz received at his ranch in Janadriyah on Friday
Senegalese President Abdullah Wad and his accompanying delegation. During the audience, the King welcomed the
Senegalese President, wishing him and the accompanying delegation a pleasant stay.. ..the Custodian of the Two Holy
Mosques held a luncheon in honor of the Senegalese President and the accompanying delegation.."
[more]
Saudi Money Supply Surges 26% [Apr 12]
"Annual money supply growth in Saudi Arabia accelerated to 26.2% in February even as the kingdom tightened lending
curbs to control spiralling inflation, central bank data showed on Saturday. M3, the broadest measure of money
circulating in the Saudi economy, grew to 827.35 billion riyals ($220.6 billion) at the end of February compared with
655.83 billion riyals a year earlier.. ..Annual inflation in Saudi Arabia reached 8.7% in February, its highest level in 27
years. The kingdom has raised bank reserve requirements three times since November, forcing banks to keep more
money in their vaults as the US Federal Reserve repeatedly slashed interest rates since September.."
[more]
Bangladesh Okays $3 bln Saudi Arabia Oil Investment [Apr 12]
"Bangladesh has approved to go ahead with a $3 billion investment by Saudi Arabia to set up an oil refinery with a
capacity to produce 300,000 barrels of oil products a day, a senior official said on Saturday.. ..The plant will be set up with
foreign investment and will import more than 5 million tonnes of crude oil from Saudi Arabia. The refinery's production
capacity will be more than three times that of the state-run Bangladesh Eastern Refinery Limited
(BERL), the only
refinery in the country, Cosmopolitan Oil Refinery Management Chairman Dewan Sultan Ahmed told Reuters.
BERL, at
the port city of Chittagong with 1.5 million tonnes capacity, supplies refined oil to three state-owned oil firms for distribution across the country. Bangladesh imports 3.8 million tonnes of fuel a year.."
[more]
~~~~~~~~ [ Apr 11] ~~~~~~~~~
Calls to Reopen UK Inquiry Into BAE-Saudi Arms Deal [Apr 11]
"Opposition lawmakers and anti-arms campaigners stepped up calls on Friday for Britain's anti-fraud agency to reopen a
corruption inquiry into a lucrative arms deal between Saudi Arabia and BAE Systems
PLC, after a court ruled that
dropping the probe was illegal. The High Court ruled Thursday that the Serious Fraud Office's 2006 decision to halt the
inquiry represented an 'abject surrender' to pressure from a foreign government, but did not immediately order the
investigation to be reopened. The SFO has said it is considering 'the way forward,' amid negotiations with the two anti-arms groups that sought and won the court decision. If the two sides cannot agree on the next step, the High Court will hear further submissions from them — but not from the government, the Saudis or BAE — in about two weeks. It could
at that point order the SFO to reopen the investigation. However, the agency can also seek to appeal the current judgment
to the House of Lords, Britain's highest court of appeal.." [more]
Saudi Adds Significant New Production [Apr 11]
"Saudi Arabia announced on Thursday that they will start adding 500,000 bpd to its total capacity when the Khursaniyah
field comes on stream this month. Abdulaziz al-Judaimi, vice president of new business development at Saudi Aramco
said.. ..This may be true or it may be just propaganda in an effort to talk down oil prices. The Khursaniyah field has been
said to be coming online for nearly two years now and it never starts. Delays of this magnitude are common but some feel
there were serious shortfalls in the capacity being developed and many more wells had to be drilled to produce anything close to what was promised.. ..Saudi is pouring $90 billion of its oil sales back into new development and refining capacity
over a 5-year period in an effort to boost capacity to 12 million barrels per day
by 2010.." [more]
Saudi Film Industry Gets Into Focus [Apr 11]
"..In an unprecedented response from people associated with Saudi film industry, still in its nascent stage, scores of people
working in the cinema sector, met with a delegation from Dubai Technology and Media Free Zone Authority
(Tecom), which visited the kingdom recently. It was confirmed that several Saudi filmmakers will take part in the first ever Gulf
Film Festival (GFF) with at least a dozen entries.. ..The Dubai festival, which will be held from April 13 to 18, aims to
develop the local and regional film industry by creating new avenues for filmmakers to screen their projects.
GFF, a non-profit cultural event to be organised by Tecom, is holding competition for feature films, short films, documentary films
and students' work.." [more]
Cracks in Saudi, Egyptian Ties With Syria [Apr 11]
"Egypt and Saudi Arabia, in an implicit criticism of Syria, said on Wednesday better relations with Damascus depended
on an end to the political crisis in Lebanon. 'We call things by their names, in that Saudi-Egyptian relations with sister
Syria do not appear to be at their best,' said Egyptian presidential spokesman Sulaiman
Awad.. ..'Egypt and Saudi Arabia
know who has a duty to do what so that a real rapprochement can take place. Improving the situation comes about by
deeds, not words, not by expressions of good intentions.' Egypt and Saudi Arabia have taken the side of the Lebanese government in the dispute, which reflects the regional conflict between the United States and its Lebanese government
allies from one side, and Iran, Syria and Hezbollah in Lebanon on the other.."
[more]
Oil Prices Fall After Saudi Reassurance [Apr 11]
"Oil prices fell from near record highs yesterday after Saudi oil minister Ali Al Naimi said markets were well supplied,
shrugging off falls in US crude and fuel stocks and bullish Chinese
econ-omic data. US crude was down 67 cents to
$110.20 a barrel by 1409 GMT, having earlier risen to within one cent of the $112.21 record hit in the previous session..
..Saudi Oil Minister Ali Al Naimi told reporters in Paris the market was still well supplied and record prices were not due to
any lack of oil. 'I am not going to pull back. I'm not going to dump crude on the market,' Naimi said when asked whether
Saudi Arabia might change its output. Despite pleas by consuming nations for the Organisation of Petroleum Exporting Countries
(Opec) to raise oil production to help cap rising oil prices, its members insist the markets remain well supplied.."
[more]
National Study Puts Saudi Child Labor at 1.54% [Apr 11]
"A study in Saudi Arabia has concluded that child labor in the Kingdom amounts to 1.54 percent of the child population..
..Salient social characteristics in common among employed children included the low professional and educational
standards of the parents, the large size of the family, inadequate support for children by their families and low levels of
achievement in schools.. ..The survey of streets, schools and workplaces revealed that children are mostly employed in the
business area, followed by agriculture. Naji wrote in his conclusions that Saudi Arabia enacted a number of legislations on child labor, including that the minimum employment age is 13 in all areas, with the exception of family businesses and
domestic labor, as well as animal herding and raising or in agricultural projects that do not manufacture their own
products.." [more]
~~~~~~~~ [ Apr 10] ~~~~~~~~~
British Court Condemns End to Saudi Arms Probe [Apr 10]
"A corruption investigation into arms deals with Saudi Arabia should not have been halted, a London court said on
Thursday in a ruling that sharply criticized the British and Saudi governments. Two judges said the director of the Serious
Fraud Office (SFO) had capitulated to threats from the Saudi royal family over arms deals with Europe's biggest defense
company, BAE Systems Plc. 'No one, whether within this country or outside, is entitled to interfere with the course of our
justice,' one of the judges, Lord Justice Moses, told the High Court in London, calling the decision a failure of government. 'The law is powerless to resist the specific and, as it turns out, successful attempt by a foreign government to pervert the
course of justice in the United Kingdom,'.. ..Saudi envoys in London had no immediate comment.."
[more]
Saudi and Egypt Leaders Vow to Help Lebanon [Apr 10]
"Saudi King Abdullah Bin Abdul Aziz and Eygptian President Hosni Mubarak have pledged joint efforts to settle
Lebanon’s political crisis. The two leaders met in Egypt’s Sharm El Shaikh on Wednesday, where they discussed the
situation in Palestinian territories, Iraq, Darfur and Somalia. 'The major Arab disagreements are connected to the situation
in Lebanon,' Mubarak’s spokesman Suleiman Awwad told reporters before the meeting on Wednesday.."
[more]
Saudi Terror Suspect: Military Trials a Sham [Apr 10]
"A Saudi captive called the war court here a sham at his hearing Wednesday, fired his Pentagon defense lawyer and was
sent back to his prison camp cell with a promise from his military judge that his terror trial would go on without him.
''History will record these trials as a scandal,'' said Ahmed Darbi, the brother-in-law of a member of the suicide squad that
struck the Pentagon on Sept. 11, 2001. ``I advise you as a judge and all the people here to not continue this play, this sham.''
Darbi, 33, is charged as an al Qaeda conspirator and with providing material support for terror -- not in the 911 attacks,
but on an unsuccessful plot to bomb vessels off the coast of Yemen.. ..he repeatedly refused to participate in his upcoming
military trial and refused his Pentagon's paid defense attorney, U.S. Army Lt. Col. Bryan Broyles. He asked for a Saudi
lawyer.." [more]
Saudi Oil Minister Predicts Fossil Fuels to Serve Global Energy Needs for at Least 50 Years [Apr 10]
"Saudi Arabia's Oil Minister Ali Naimi said Thursday he expects fossil fuels will supply the bulk of global energy needs for
at least the next 50 years. To meet future demand, the No. 1 producer, and by far the most influential member of the
Organization of Petroleum Exporting Countries, is boosting production, he told delegates at the International Oil Summit
in Paris. 'Moving from our current sources of energy, primarily fossil fuels, to a dominant new source will require at least
half a century and perhaps more given the various challenges associated with such a broad based convergence, he said.
'Fossil fuels can be and should be made environmentally friendly sources of energy, particularly as they will continue to
meet the lion's share of energy needs for the foreseeable future'.. ..Ethanol and other biofuels do not meet environmental
and energy security goals, he said.." [more]
US to Double Visas for Saudi Students [Apr 10]
"US Ambassador Ford Fraker said in Sakaka that his country aims to double the number of student visas issued to Saudis.
'Currently there are 15,000 Saudi students in the US,' he said during an event on Sunday with local business leaders to an
audience at the Al-Jouf Chamber of Commerce and Industry. 'We aim to increase their numbers to 30,000 over the next
five years.' Fraker said Saudi Arabia should bolster its English-language programs because it is generally required for
Saudis seeking to pursue higher studies in the US. Fraker also stressed the need for popularizing English teaching programs because it would overcome the language barriers for Saudi students seeking to study in the US easier.."
[more]
Al-Tuwairqi to Invest $1 Billion in Yemen [Apr 10]
"Saudi Arabia’s Al-Tuwairqi group confirmed on Tuesday it planned to invest $1 billion in Yemen to build steel and power
plants. Chairman Hilal Al-Tuwairqi said on the sidelines of a steel conference the Yemen steel plant would have a capacity
of 5 million tons of liquid steel. 'In addition to that, we will build a rolling mill which will produce 1 million tonnes of rebar
annually,' he said. The investment would include installation of a power plant as Yemen lacked the necessary
infrastructure.. ..Al-Tuwairqi said he expected the plants to be operational by 2011.."
[more]
Schism — Saudi Blogger's Answer to Wilders Film [Apr 10]
"A Saudi blogger has made a six-minute video entitled "Schism" by portraying texts from Christian sources out of context,
similar to the way Dutch MP Geert Wilders made his recently-released
anti-Qur'an film entitled 'Fitna.' In his film, Raid Al-Saeed, 33, shows verses of the Bible that call for war and illustrated them with clips of extremist Christian groups that
preach violence. 'I made it in less than 24 hours. In 'Schism,' I have used the same methodology that Wilders has used and
that involves taking texts out of context,' he told Arab News, adding that he made the film to prove that it is incorrect to judge Islam by watching
'Fitna.' .. ..'It is easy to take part of any holy book out of context and make it sound like an
inhumane book. This is what Geert Wilders did to gather supporters for his hateful ideology'.."
[more]
Conference to Zoom in on Higher Education [Apr 10]
"Under the patronage of King Abdullah Bin Abdul Aziz, Nayef Arab University for Security and Science
(NAUSS) will
host the 41st regular session of the Federation of Arab Universities in Riyadh on Sunday. "The King's patronage of this
important session, to be attended by the heads of more than 160 Arab universities, is the embodiment of the attention and
care given by the Custodian of the Two Holy Mosques and the reaffirmation of the Kingdom's leading role in supporting
joint Arab action on all ... levels," said Dr Abdul Aziz Saqr Al Ghamdi, president of
NAUSS.. ..The conference will study the creation of balanced, quantitative and qualitative changes in university education, in addition to the development of
systems of graduate studies and research work at Arab universities. The importance of the conference is to discuss ways to
develop higher education.." [more]
~~~~~~~~ [ Apr 9] ~~~~~~~~~
Naif Calls for Study on Providing Citizenship to Undocumented Saudis [Apr 9]
"Interior Minister Prince Naif has urged officials of his ministry and the National Society for Human Rights
(NSHR) to
conduct a study on providing citizenship to undocumented Saudis. He made this announcement during a meeting with
Dr. Bandar Al-Hajjar, president of NSHR, at his office in Riyadh recently. Saudi Arabia applies strict rules in granting
citizenship to other nationals. However, a number of applicants, who were competent and specialized in scientific subjects,
was given Saudi citizenship last year. The Interior Ministry’s Agency for Civil Affairs in Riyadh began accepting
citizenship applications on May 23, 2005. Priority was given to applicants holding doctorates in medicine, engineering
and other sciences.. ..Many of the Kingdom’s seven million expatriate workers, including a
lare number of Arabs and Asians, applied for citizenship after the Cabinet approved the newly amended Naturalization Law. The new move to
provide citizenship to undocumented Saudis will help a large number of people in the Kingdom and put an end to their
long suffering.." [more]
Many Apprehended in Anti-Terror Campaign Were on Drugs [Apr 9]
"A large number of militants apprehended in the kingdom's anti-terror campaign were on drugs, Saudi Interior Minister
Prince Nayef bin Abdul-Aziz said. In comments made late Tuesday, the prince said the ministry has seized tons of drugs
and millions of tranquilizer pills in operations in which more than 400 members of the kingdom's narcotics squads have
been killed. He did not state the period over which the deaths occurred. 'Many of those who have been arrested in terror-related (incidents) were drug users,' said
Nayef. He did not elaborate. Nayef's comments could not be independently
verified, and he did not explain whether the militants were current users or had been drug users before joining militant
groups.." [more]
South Africa: Saudi-Arabia Brings Hope to Emerging Farmers [Apr 9]
"Emerging farmers from the historically disadvantaged communities of Limpopo are to benefit from trade relations
between the province and Saudi Arabia, says Premier Sello Moloto. A task team from Saudi Arabia is currently in the
province to explore areas of trade and investment, following Mr Moloto's trade mission to the country in March.. ..Saudi
Arabia imports no less than 90 percent of its agricultural products from other countries including South Africa and
particularly Limpopo. Mr Moloto said his trade Mission had been a success and that the provincial government would
ensure that follow-ups are made for people of the province to benefit form these forms of interaction with the international
community.." [more]
Saudi SABIC Eyes Iron Ore Acquisitions [Apr 9]
"Saudi Basic Industries Corp 2010.SE (SABIC) is considering investments in iron ore mines overseas to reduce the impact
of rising prices on its steel production unit, a magazine reported on Wednesday. Demand for steel in Saudi Arabia has
been outpacing supply, and competitors of Hadeed, the steel producer that SABIC controls, have been raising prices,
SABIC Chief Executive Officer Mohamed al-Mady said on Tuesday. SABIC, the Gulf's largest steel maker, is looking at
possible investments in iron ore mining, London-based MEED said, citing a source close to the company.."
[more]
Saudi Arabia, Ukraine to Sign Deals [Apr 9]
"A series of agreements will be signed today between Saudi Arabia and Ukraine during the Third Saudi-Ukraine
Intergovernmental Meeting which began here yesterday. Minister of Transport Dr. Jabarah
Al-Seraisry headed the Saudi
team, while the Ukrainian team was headed by the First Deputy Prime Minister Oleksandr
Turchynov.. .. he said that his
country was interested in participating in the mega developments that are taking place in the Kingdom. He said his
country was keen on transferring its technological expertise to the Kingdom. Todchuk said that Ukraine will stress the
importance of having a Saudi embassy in Kiev which would strengthen bilateral relations. Ukraine embassy was
established in the Kingdom in 1996 and ever since the Saudi mission in Moscow has been accredited to Ukraine.."
[more]
Dell Seeks to Develop IT Infrastructure in Kingdom’s Economic Cities [Apr 9]
"Dell Inc., the global IT giant that generated revenues worth $61 billion last year, has expressed a strong interest to develop
IT infrastructure in the Kingdom’s six mega economic cities. 'Certainly we are interested in the infrastructure, mega data
centers and large green data centers of the economic cities,' said Michael Dell, chairman and CEO of Dell Inc., at a round-table discussion on Monday night. He said that during his meeting with senior officials from the Saudi Arabian General
Investment Authority (SAGIA), the two sides discussed how Dell Inc. could work with SAGIA to develop the cities’ industrial base.. ..The chairman of the American IT company did not say whether a future agreement would be signed
with SAGIA. However, he told the press to 'stay tuned.'.." [more]
How to Succeed at Education Reform: The Case for Saudi Arabia and the Greater GCC Region [Apr 9]
"Booz Allen Hamilton's Middle East Think Tank - research into education in the GCC has found that education reform is a
necessary step for ensuring the future economic growth and development of the region. Strategizing for education, the
research found, has been a central policy in the GCC over the past four decades with a series of development plans in
which education plays an integral part. Expenditure on education is comparable to the most advanced economies,
although return on education investment is still relatively limited.. ..A summary of the research findings for successful
education reform follows below:.." [more]
Gulf Stocks Give Investors Taste of Future [Apr 9]
"..The next quarter century belongs to the Middle East. The Gulf states restrict foreign stock ownership. So far, it has been
a game primarily for hedge funds and private equity. But the Middle East is opening up to homegrown investors as well
as international capital. Last September, T. Rowe Price launched the Africa & Middle East Fund -- the first chance for
average U.S. investors to take a shot at markets they never heard of before but, eventually, will make a splash. Your
targets are the economies of six Arab states -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates
(the U.A.E. consists of seven city-states of which the best known are Abu Dhabi and Dubai). They're gathered into a loose
confederation known as the Gulf Cooperation Council (GCC). The GCC just negotiated a free-trade agreement with
Singapore, their first with a country outside the Middle East. Last December, they announced plans for a GCC common
market. If you think of the Gulf states as mostly camels, oil, sand and war, Google
'Dubai image'' or 'Abu Dhabi image'.." [more]
~~~~~~~~ [ Apr 8] ~~~~~~~~~
Saudi Arabia Keen to Protect Human Rights, Says Minister
[Apr 8]
"Saudi Interior Minister Prince Naif Bin Abdul Aziz reaffirmed that Saudi Arabia is keen to protect human rights at any
cost. 'Human rights are well-guarded in the Kingdom strictly in line with the guidelines set by the Quran and the
Prophet's tradition [Sunnah].. ..Prince Naif made the remarks during his meeting with Dr Bandar Bin Mohammad
Hojar, Chairman of the National Society for Human Rights, and members of the society at his office. They exchanged cordial
talks and discussed issues pertaining to the society.." [more]
Saudi Cbank Confirms Tighter Bank Lending Curbs [Apr 8]
"Saudi Arabia's central bank confirmed on Tuesday it had raised bank reserve requirements to 12 per cent from 10 per
cent beginning from the first week of April. Traders said on Monday the Saudi Arabian Monetary Agency (SAMA) had
tightened bank lending curbs for the third time since November to help stem money supply growth as inflation in the
largest Arab economy surges.. ..Inflation in the largest Arab economy surged to a 27-year peak of 8.7 per cent in
February.." [more]
Opec Doing Its Best To Stabilise Prices [Apr 8]
"Opec is doing all it can to stabilise oil prices that are being led higher by speculation and political events in producing and
consuming nations, Qatar’s minister of state for energy and industry affairs said. Opec is doing its best to contribute to
stability,” HE Mohamed Saleh al-Sada told reporters today in Doha, where he was attending an oil and gas conference.
“Speculation and geopolitics are causing high prices.” The Organization of Petroleum Exporting Countries is trying to act
responsively, he said, without commenting specifically on the group’s production targets..
..Opec holds its next formal, policy-setting conference in September. Many of its ministers are scheduled to attend an informal meeting during a
conference in Rome on April 20-22..." [more]
Grievances Court Plans Web Portal to Expedite Judicial Proceedings [Apr 8]
"The Court of Grievances announced it would launch a web portal in an attempt to expedite communications between the
court and the public. Muhammad Al-Amin, secretary to the president of the Court of Grievances, signed in Riyadh two
contracts for the implementation of the system and the establishment of a portal along with its operation and
maintenance.. ..Similar systems have been implemented in the United States, Malaysia and Singapore. The system would
enable the appeals court judges to examine pending cases and interact with the parties involved in the case even if they are not physically present in the court, according to Majid
Al-Adwan, director of the computer department at the court. The
move is part of the government’s plan to develop the legal system in the country to cope with the increasing number of
cases.." [more]
Craig Barrett Visits Saudi Technology Projects [Apr 8]
"Craig Barrett, chairman of Intel was in Saudi Arabia yesterday, as part of a tour as the Middle East for his role on the
United Nations panel on technology and as part of the Intel World Ahead Initiative. Barrett witnessed the signing of
another WiMAX project for the region, which will build on Intel's existing MOU with the Knowledge Economic City
(KEC). The new deal will see Saudi telecom incumbent STC provide a WiMAX network for the KEC project in Medina.
Intel will provide technical support and expertise for the WiMAX network, which is due to be finished by 2011.. ..'Our joint
commitment to technological innovation shows that much can be accomplished when private industry and government work in tandem to achieve a common vision. Investments in education are important to the future, in the Arab world and
around the globe,' said Barrett.." [more]
Saudi-Egyptian Trade Hikes to $ 2883.9m [Apr 8]
"An Egyptian Economic Study has disclosed that the Kingdom of Saudi Arabia is considered as one of the most important
commercial partners of Egypt. The study noted that the volume of the Egyptian trade with the Kingdom amounted in
2007 to $ 2883.9 million, while the Saudi investments in Egypt ranked the second at the Arab level.. ..According to the
study, the volume of the Egyptian trade with the Kingdom amounted last year to $2883.9 million, while the Saudi
investments in Egypt amounted last year to $204 million. The Saudi investments ranked the second in Egypt after the
investments of the United Arab Emirates. The study pointed out that the remittances being sent by the Egyptian workforce in the Kingdom constitute an important income source as they surpassed $860 million in 2007.."
[more]
Basmati Exports to Saudi Arabia Set to Rise [Apr 8]
"India’s exports of basmati rice to Saudi Arabia are set to rise substantially this year following the kingdom’s decision to cutimport duty on the commodity. Saudi Arabia is the largest importer of Indian basmati rice.. ..The Indian embassy in
Riyadh has circulated Saudi government’s decision to all leading chambers of commerce and export promotion councils.
India-Saudi bilateral trade is currently estimated at over $5.5 billion.."
[more]
BMG Saudi Index Rebounds [Apr 8]
"The BMG Saudi Index reversed its performance again this week, in its third trading session, to land in positive territory,
moving up by 1.3 percent to 532.9 points. The market turnover, however, maintained its negative performance, declining
by 19.8 percent to a total of SR2.5 billion ($660 million) versus SR3.1 billion ($822 million), traded in Sunday’s session.
All the sectors followed the Index’s uptrend, with the exception of the Telecommunications and the Banking sectors, which
went down by 0.8 percent and 0.3 percent respectively.." [more]
~~~~~~~~ [ Apr 7] ~~~~~~~~~
Saudi King: We Will Recognize Kosovo [Apr 7]
"King Abdullah of Saudi Arabia has promised his country will recognize
Kosovo. The King confirmed his stance during a meeting that he held with Albania's parliament speaker, Jozefina Topalli in
Riad. Saudi Arabia's number one expressed his support for the cause of Albanians and congratulated the newest country of Europe. Jozefina Topalli gave special thanks to the King for his promise to recognize the Republic of
Kosovo, stressing that such a move by the most powerful country of the Arab world would have a great influence on the Islamic Conference, which consists of around 56 countries.." [more]
Human Rights Protected in Kingdom: Naif [Apr 7]
"Interior Minister Prince Naif said yesterday that human rights are protected in the Kingdom thanks to the implementation of
Shariah. "Different executive and supervisory government agencies implement regulations that take care of the rights of the accused at the time of arrest, investigation, trial and execution of punishment," the Saudi Press Agency quoted the minister saying. Prince Naif made this statement while receiving the president and members of the National Society for Human Rights at his office in Riyadh. During the meeting the two sides discussed issues relating to Saudi society.."
[more]
Saudi Arabia: New System to Support Investment in Tourist Sites [Apr 7]
"The Supreme Authority for Tourism in Saudi Arabia announced last week the adoption of a new system that will encourage the founding of companies for the planning and development of tourist sites and for the establishing, managing and licensing of museums. It also aims to produce a register for Saudi antiquities and to prepare them for display. The authority revealed that the Saudi ministries of interiors and foreign affairs as well as other affiliated authorities will participate in organizing the issuing of tourist visas. The new system that was approved by the Saudi Cabinet recently and that will be brought into effect 90 days after it is published in the official journal stated that the authority will work towards preserving archaeological sites that fall under the category of private properties in order to maintain, renovate and develop them. Furthermore, it included the proposal to expropriate ownership of these sites and buildings in accordance with the system of expropriation for the sake of public interest and this includes buildings and land within the vicinity of these sites so as to protect them and make the most of them.." [more]
Alwaleed Gives SR58.4m for Cambridge Chair on Islam [Apr 7]
"Prince Alwaleed ibn Talal, chairman of the Kingdom’s Holding Company, has donated £8 million (SR58.4
million) to the University of Cambridge to fund a center in his name for the study of Islam. The donation has been recommended by the university’s general board and is expected to be announced formally in June this year. 'The donation given by Prince Alwaleed is excellent news for us and demonstrates again the prince’s generosity,' said British Ambassador William
Patey. 'It is an important step forward to set up a center for Islamic studies on the campus of a world-renowned university as part of a broader initiative to promote interfaith understanding'.."
[more]
Saudi Films Set to Captivate Audiences at Gulf Film Festival [Apr 7]
"A diverse range of films from the Kingdom of Saudi Arabia are all set to captivate film enthusiasts, lifting the lid of misconceptions about the Saudi society at the inaugural edition of the Gulf Film Festival. Several shorts from the Kingdom in the recent past have generated considerable interest amongst cinema goers across the globe correcting the stereotypes and educating society on existing wrong practices.. ..The two features from KSA linger around darkness and intrigue. Considered the first horror film and only the third full length feature from Saudi Arabia, Abdulla Abo Talib's mythically-inspired 'The Forgotten Village' tells the story of ethereal and supernatural phenomena that two groups of people are subjected to in a sleepy village.." [more]
Taqa to Invest $4.5 Billion in Saudi Arabia, North America [Apr 7]
"Abu Dhabi National Energy Co. PJSC, the United Arab Emirates-based investor known as
Taqa, plans to
invest at least $4.5 billion in power stations in North America and Saudi Arabia, Chief Executive Officer Peter
Barker-Homek said. The company will buy a 2,000-megawatt electricity plant in North America for $2 billion,
Barker-Homek told reporters in the Qatari capital of Doha today. Taqa is also planning a $5 billion joint venture with Saudi Arabia's Zamil Group to build power stations in that country's 'economic cities,'
Barker-Homek said. The plants would provide as much as 5,000 megawatts and run on fuel oil and natural gas, he said.." [more]
Expat Workers Blamed for Saudi Job Shortage [Apr 7]
"These findings come from the second major Saudi poll conducted by
YouGovSiraj, the global leader in online polling. 458 Saudi men and women responded to an online survey in March 2008, concerning social issues in The Kingdom. The study examines Saudi attitudes towards employment and availability of jobs. Overwhelmingly, nearly 9 in 10 (86%) believe Saudi youth have difficulty in finding work. 66% of Saudis who feel this strongly believe this difficulty is due to the prevalence of expatriates and foreign workers in the country.. ..A significant minority attribute blame to themselves: 23% of Saudis strongly believe job shortages are due to excessive 'fussiness' among graduates in choosing jobs.." [more]
Greek Mission Visits JCCI, Studies Investment [Apr 7]
"A Greek business delegation discussed prospects for investment and partnerships at a meeting at the Jeddah Chamber of Commerce and Industry yesterday. JCCI Secretary General Mustafa
A.K. Sabri said the
Kingdom, with its ongoing economic boom and plan to establish six new economic cities, offered
possibilities to international players to contribute their expertise. 'There is immense scope for bilateral cooperation and collaboration in many of the Kingdom’s investment and business projects,' he said.. ..Foreign direct investment has also more than doubled since 2004 as a constantly growing economy such as Greece’s offers attractive opportunities. Both countries have concluded agreements on
investment protection, as well as on avoidance of double taxation.." [more]
Kingdom to Observe World Health Day [Apr 7]
"Saudi Arabia will join the rest of the world Monday in observing the World Health Day. This year’s day will be under the aptly selected motto 'Protection of Health from Climate Change.' Dr. Tawfeek Ahmad
Khoja, Director General of the Executive Bureau of the GCC’s Council of Health Ministers, said the world is experiencing some
drastic climate changes. He added that these changes have definite impacts on the health of humans, as well as their environment. Khoja said that these changes are manifested in unprecedented heat waves, sometimes in unlikely places, and the oscillation of weather between extreme cold and extreme heat in other places. He added that these weather irregularities result in increases in microbial pollution, changes in the patterns of transmission of infections, and shifts in socioeconomic and demographic conditions.." [more]
~~~~~~~~ [ Apr 6] ~~~~~~~~~
Saudi Arabia Wants Tourism to Be Biggest Employer [Apr 6]
" Saudi Arabia wants tourism companies and hotels to become the largest employer of the kingdom's citizens, the Saudi Press
Agency reported, citing the secretary- general of the Supreme Commission for Tourism. Saudi nationals will hold 80 percent of all
tourism-related jobs in three years and 4,000 nationals will be trained for employment in the hotel and travel sector, the
Riyadh-based press agency reported, citing Prince Sultan ibn Salman.."
[more]
GCC Demand to Curtail Oil Exports [Apr 6]
"Spiralling energy demand in the Gulf states, coupled with a gas-supply crunch, might lead to oil exports from the region falling
during the summer, according to energy economists. A Lehman Brothers report puts the possible Gulf export shortfall due to high
domestic demand at up to one million barrels per day (bpd). According to Edward Morse, Lehman's chief energy economist, the world
markets faced a shortfall of about one million barrels per day last July and August, and it could be repeated this year.. ..While
many expansion projects are being pursued across the region, the fear is that export capacity might not grow enough in the coming
six months, leading to an increasingly tight market.." [more]
Canadian sentenced in Saudi Arabia [Apr 6]
" A 17-year-old Canadian boy has been sentenced to a year in prison and 200 lashes in Saudi Arabia for his involvement in the
murder of a Syrian classmate. Sultan Kohail, 17, and his brother Mohammed, 23, were arrested last January after a school yard
brawl resulted in the death of a fellow student. Mohammed was convicted of murdering Syrian Munther Al Haraki and has already
been handed a death sentence, along with a third man, a Jordanian national.. ..Canada has said it will seek clemency for Mohammed.." [more]
The Largest IPO Seen in the Saudi Market [Apr 6]
"Tomorrow Monday the 7th of April marks the first day of alinma bank IPO covering 70% of its capital; the largest IPO announced
for Saudi citizens in the Saudi market. One billion and fifty million shares have been announced for IPO at a total price of ten
billions and five hundred million Saudi Riyals. The price has been set at SR ten (10) per share without issuance fees.. ..the
announcement of 70% of the bank's shares for IPO reflects the aspirations of the supreme leadership in broadening the
contribution base of the citizens. He anticipated that the IPO would witness unprecedented demand as particularly banks form the
highest promising sector in the Kingdom. Choosing SAMBA CAPITAL as the IPO manager, he said, has been based on its experience in
managing IPOs in the Saudi stock market which meets the Bank's aspirations to choose the best for its IPO subscribers.."
[more]
Emaar EC, DP World to Build Saudi Port [Apr 6]
"A spokesperson for Emaar Economic City (Emaar EC) said that the company has entered an agreement with the Dubai-based DP World
Limited for the development and operation of the port at King Abdullah Economic City
(KAEC) in Saudi Arabia, Khaleej Times
reported. He further added that the port will be financed completely by the private sector, would become one of the world's ten
largest ports with a capacity to handle twenty million 20-foot containers a year. The multi-purpose cargo terminal is set to be
operational by the end of 2010 and a separate terminal capable of handling 1.6 million
TEU, or 20-foot equivalent container
units, will operate by mid-2011.." [more]
Umm Faisal Case Postponed Yet Again [Apr 6]
"The first ever case to be filed by a Saudi woman against the Commission for the Promotion of Virtue and Prevention of Vice was
postponed once again yesterday at the request of the woman’s lawyer. Abdul Rahman
Al-Lahem, the lawyer representing the woman
known as Umm Faisal, said he requested the postponement, as he was feeling unwell. The case has now been scheduled to be heard on
May 4. Umm Faisal is claiming “psychological, physical and material damage” after being arrested with her daughter by members of
the commission while waiting for their car outside a Riyadh shopping mall in 2004. The two women, who were accused of not
conforming to norms of decency.." [more]
Click
here to read the "News-This Week."
|
