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~~~~~~~~ [ Jul 26] ~~~~~~~~~
Saudi Medical Mission to Perform Cardiac Surgeries for Yemeni Children [Jul 26]
" A Saudi medical mission, led by the head of the cardiac surgery department at the prince Sultan Cardiac Center Huwaida
al-Qathami, has arrived in Yemen to perform
cardiac surgeries for Yemeni children with congenital heart defects.. ..She made clear the surgeries to be carried out would be of those related to Congenital heart defect
corrective surgeries for children, newborns and young who still suffer from congenital heart defects. She added that about 160 patients have been examined and over than
180 would be medically examined to be treated at the al-Thowra General Hospital. The mission comprises of 39 cardiac surgery specialists from the Saudi Defense and
Health ministries.." [more]
Saudi Arabia To Expel Longtime Egyptian Resident [Jul 26]
"An Egyptian national living in Saudi Arabia for the past 44 years is due to be expelled from the Islamic nation despite calls from human rights groups to stop the decision.
The Arabic Network for Human Rights Information (ANHRI) said on Saturday that the move is a violation of freedom of speech. 'The decision of the Saudi authorities to
expel Abdullah Al Khayat - an Egyptian who has been a resident of Saudi Arabia for 44 years - for his writings in newspapers and on the Internet is a blatant violation of freedom of opinion and expression,' the pan-Arabic organization said in a press statement..
..Khayat has been a resident of Saudi Arabia since 1966, when he became one of
the first Egyptians to move to the oil rich nation. But when he went to renew his residence permit on July 21 he was refused a renewal and authorities in the kingdom
informed him of the decision to expel him within one week. There were no official reasons provided by the Saudi government for his expulsion, nor was there an investigation into whether he had broken any law.." [more]
17,000 New Scholarships Granted to Saudi Students [Jul 26]
"The Ministry of Higher Education said 17,268 students have been granted scholarships through the King Abdullah Scholarship Program. The scholarships cover bachelors,
masters and doctoral degrees as well as medical fellowships. The applicants form the fourth group to be awarded scholarships under the program. Of the candidates selected,
10,250 are males and 7,018 females.. ..The scholarship program was started in 2006 by King Abdullah, Custodian of the Two Holy Mosques. It started with 15,000 students
who were sent to study in the US and in Asia, according to the Royal Embassy of Saudi Arabia web site. The program came after a drop in Saudis traveling abroad for
educational purpose following 9/11.." [more]
Kingdom’s Clothing Retail Market Grows Strongly [Jul 26]
"The Saudi apparel retail industry is one of the high-growth markets in the Arab region especially in the women and children segments as the business grew rapidly over the
last several years as people became more fashion-oriented, Kuwait-based Global House Investment said in its report on the 'Saudi Apparel Retail Market.' The growth in the
sector is attributed to high young population and increasing purchasing power in the backdrop of recent economic boom. Growth of this sector is evidenced by the growth of
fashion retailers.. ..with the maturing of the market, there has been a shift towards branded apparel sold through international retail chains. Sales of braded apparels are
estimated to be around 25-30 percent of total apparel sales. Its share continues to increase as evidenced by the expansion of the number of outlets and the number of malls
specialized in international retail chains.." [more]
~~~~~~~~ [ Jul 25] ~~~~~~~~~
Critics Question Ambitious Saudi Cities Plan [Jul 25]
"The foundations are being laid and the building of four highly ambitious new cities in Saudi Arabia is under way, with the first, the King Abdullah
Economic City, hoping to welcome residents at the end of this year. But as the multibillion-dollar mega-projects inch forward, questions are increasingly being raised about the viability of their concept, amid rising costs and queries about whether the cities will attract the required private sector investment -
foreign and domestic - and the human resources needed to meet their heady goals.. ..The scheme is designed to ease the serious demographic, economic
and social pressures faced by the kingdom, which has a growing young population; an economy dependent on the highs and lows of oil cycles and high
unemployment. Most observers expect the flagship King Abdullah city to be a success as it bears the king's name. Concerns surround the feasibility of
the others, particularly Hail due to its remote location.." [more]
OPEC Supply to Rise This Month [Jul 25]
"OPEC's oil supply will probably increase in July by 200,000 barrels a day, or 0.6 percent, as Saudi Arabia fulfils its pledge to boost production,
according to preliminary estimates from PetroLogistics Ltd.. ..Saudi Arabia, the world's largest oil exporter, pledged on June 22 to increase output by
200,000 barrels a day in July, on top of a previous 300,000-barrel-a-day boost scheduled for June. `'The Saudis can produce more but they can't sell it,'
Gerber said in a telephone interview. `'The demand's not there.' The Saudi kingdom increased supplies to world markets to 9.45 million barrels a day this
month, from 9.32 million a day in June, according to PetroLogistics. Still, Saudi Arabian supplies to customers in July are well short of the 9.65 million a
day produced in June as the Gulf kingdom is unable to find buyers for its sulfur-heavy crude types.."
[more]
Cal Poly Signs Controversial Deal With Saudi Arabian University [Jul 25]
"Cal Poly has signed a contract to help establish a new engineering program in a Saudi Arabian university, and a top university official expects the Saudi
officials will sign the contract soon. The deal would pay Cal Poly $5.9 million to help set up a program in four engineering fields at the state-run Jubail University College in Saudi Arabia. The proposed contract has been inked by Cal Poly Corp., a nonprofit, private arm that supports the university, after
legal review and awaits the signatures of officials at the new Jubail University College.. ..The proposal has been criticized by many Cal Poly faculty and students who say Saudi Arabia’s poor human rights record could lead to discrimination in the hiring of Cal Poly faculty who are minorities or women.."
[more]
Saudi Arabian Warships on Maiden Visit to India [Jul 25]
"Signalling improvement in defence ties between the two countries, two Saudi Arabian naval warships will arrive in India on their maiden visit Monday,
a Indian Navy official said here Friday. 'The Saudi Arabian ships have been visiting Pakistan. But it is the first time that the country’s warships are coming to India,' the navy official said. The two warships will arrive July 28 at Mumbai on a four-day friendly port call. 'The visit by the Saudi Navy
ships is a result of the Indian Ocean Naval Symposium organised by India recently. Saudi Arabia is an important country in the Indian Ocean Rim and the port call is an indication how countries look at India in the emerging world scenario,'.."
[more]
Saudi Embassy Security Concerns Over Development [Jul 25]
"The Saudi Arabian Embassy is objecting to a six storey unit development in southern Canberra and seeking an extension of time to lodge an appeal.
The Saudis have raised security concerns about the 114 unit development on the Embassy Motel site in
Deakin. In a written objection to the ACT Planning and Land Authority
(ACTPLA), the Saudis say the unit development would give direct line of sight into the embassy, compromising security..
..The head of the ACTPLA, Neil Savery, says the Saudi Embassy's concerns were taken into account. 'We have, however, added a condition to the approval which requires the retention of trees on unleased Territory land between the Embassy Motel site and the Saudi Embassy which would prevent
any direct line of sight,' he said. 'We also believe that if there are security issues they are more pronounced in other locations such as Adelaide Avenue.' But in its written objection, the Saudi Embassy says it remains concerned about the trees. The Embassy further notes its severest reservations that the
proposed retention of trees currently in place, or the planting of additional and/or new trees between the proposed buildings and Adelaide
Avenue
would provide any shielding for the Saudi Embassy site.." [more]
~~~~~~~~ [ Jul 24] ~~~~~~~~~
Oil Prices Likely to Increase Despite OPEC's Measures [Jul 24]
"Current fluctuations in crude prices are unprecedent since oil was discovered in the first half of the 19th Century. The first major hike from $2.5 to $11
was in the 1970s, but that seems insignificant compared to the current leaps that brought oil up to nearly $150 per barrel. Today, oil prices go up and
down by as much as $11 during the course of one trading session. Such fluctuations have left their print on global economies.. ..The series of hikes,
which began three years ago, is different than earlier ones, as it has affected all aspects of life. It has resulted in international crises and imbalances,
which have led to food price increases and record inflation rates. Accordingly, oil importing and poor countries have been exposed to social instability.
Developed countries have been affected as well.." [more]
Rabigh Gasoline Unit Expected to Come on-Line By October 2008 [Jul 24]
"The new 60,000-barrel-per-day gasoline unit at the Rabigh refinery in Saudi Arabia is expected to come on-line between September 2008 and October
2008. The refinery is part of the $10 billion PetroRabigh petrochemical complex being jointly developed by Saudi Aramco and Sumitomo Chemical,
according to Reuters. The PetroRabigh refinery's capacity will be increased to 400,000 barrels per day (bpd) following the beginning of operations at the
new gasoline unit. The news source reported that the Rabigh complex was capable of producing all varieties of oil products except for gasoline, before
this expansion project. The gasoline produced from the new unit is expected to satisfy domestic demand, while exports are not being ruled out.."
[more]
Embassy Bomber Wasn’t Saudi [Jul 24]
"Saudi Arabia’s ambassador to Pakistan denied an Al-Qaeda claim that a suicide attacker who bombed the Danish embassy in Islamabad last month
was a Saudi. 'No Saudi was involved in the terrorist attack against the Danish embassy in Pakistan,' Ali Awadh Assiri said quoted by
Al-Hayat. 'The attacker was not even Arab. According to documented official information, the features of the attacker were not close to Arab features,' he said.
A senior Al-Qaeda leader said in a television interview aired on Monday that the suicide attacker came from Saudi Arabia.. ..The June 2 embassy
bombing killed six Pakistanis, one of them with a dual Danish nationality, and came amid anger in the Muslim world over cartoons of the Prophet
Muhammad (pbuh) first printed in Danish newspapers in 2005. Saudi Arabia has been battling suspected
Al-Qaeda militants since they launched a
wave of bombings and shootings in the Gulf Kingdom in May 2003.." [more]
Scholars Stress Need for Women’s Sport [Jul 24]
"Religious scholars participating in the ongoing Abha Cultural Forum stressed the need for opening sports clubs for women and developing their skills
just as men develop their skills. 'However, women should take care that they do not violate the religious regulations while indulging in health-related activities,' Muhammad
Al-Oraify, a preacher, said. Al-Oraify read a fatwa in favor of women's participation in sports in exclusive clubs on the ground
that Shariah approves of physical activity. There are no public sports facilities for women in the Kingdom and physical education is currently not allowed in girls schools. Private sports clubs for women available in large cities are out of the reach of lower-income Saudis.."
[more]
~~~~~~~~ [ Jul 23] ~~~~~~~~~
Saudi Arabia - Continued Assistance in the Modernization of the SANG [Jul 23]
"The Defense Security Cooperation Agency notified Congress of a possible Foreign Military Sale to Saudi Arabia of continued assistance in the
modernization of the Saudi Arabian National Guard (SANG) as well as associated equipment and services. The total value, if all options are exercised,
could be as high as $1.8 billion. The Government of Saudi Arabia has requested a possible sale for the continuation of the United States supported effort
to modernize the SANG by providing the following defense services: training, professional military advice and assistance, management assistance,
contract administration, construction oversight, transportation of equipment, personnel training and training equipment, light armored vehicle training,
spare and repair parts, management of repair and return of components, automation program support, and other related elements of logistics support.
These support services would be for the period 1 January 2009 through 31 December 2013.."
[more]
Saudi’s Shura Panel Block Revaluation Plan Discussion [Jul 23]
"Members of Saudi Arabia’s Shura Council Inflation Committee this week blocked out a discussion on the proposal to appreciate the Saudi riyal against
the weak US dollar by at least 20%. 'The proposal wasn’t put on this week’s agenda for discussion. I expected us to discuss it either Sunday or Monday, but it was ignored by the Inflation Committee,'.. ..The Shura Inflation Committee is responsible for putting forward proposals for discussion by Shura
Council members. If a proposal is approved after discussion it is then passed on to the Cabinet and King who can either enforce it as law or reject it. Mansour
Abdel-Ghaffar, head of the Inflation Committee, declined to comment when Zawya Dow Jones phoned yesterday and asked him why the
committee didn’t put forward the proposal to revalue the riyal against the US dollar this week.. ..Analysts said the move to block discussion this week on
revaluing the riyal or de-pegging from the dollar could be the government trying to limit speculation in currency markets.."
[more]
High Commission to Lay Bases for Shariah Verdicts [Jul 23]
"The Council of Ministers is to form a Special Higher Commission of judicial experts charged with writing laws that will serve as a basis for Shariah court
verdicts, legal sources told Arabic daily Asharq Al-Awsat. According to the sources, the Commission, which will be independent and directly responsible
to the Custodian of the Two Holy Mosques, King Abdullah, will issue three types of laws: financial transaction laws, civil status laws, and penal code
laws. The creation of a Commission with the power to write such laws was stipulated in legislation on the organizational arrangements of the judiciary
and courts for the settlement of disputes which was endorsed by King Abdullah on April 3, 2005.. ..As of now, judges have complete discretion to set
sentences, except in cases where Shariah outlines a punishment, such as capital crimes. This means no two judges would likely hand down the same
verdict for similar crimes. The move to form a Special Higher Commission is seen as part of judicial reforms initiated by KingAbdullah last October.."
[more]
Deal For New Jeddah Airport Signed [Jul 23]
"King Abdul Aziz International Airport (KAIA) in Jeddah will have a new state-of-the-art terminal with 74 jet bridges to receive both foreign and Saudia
planes, Abdullah Ruhaimy, president of the General Authority for Civil Aviation
(GACA), announced yesterday. Speaking to reporters after signing an agreement with Aéroports de Paris Company of France to provide design and engineering services for the first phase of KAIA’s development project,
Ruhaimy said the new airport terminal is designed to receive 30 million passengers annually and would be ready by 2012.. ..'The main objective of this airport development project is to make KAIA a central airport that would link the Kingdom’s east with the west, and become a major hub for the
distribution of passengers,' Ruhaimy said. 'It will also meet the requirements of the new generation of giant aircraft,'.."
[more]
Prince Fawaz Passes Away [Jul 23]
"Prince Fawaz bin Abdul Aziz, who had been governor of Riyadh and Makkah, died yesterday outside the Kingdom following a prolonged illness, the
Royal Court announced. He was 74. Funeral prayers for the late prince will be held at the Grand Mosque in Makkah after Maghreb prayers today.."
[more]
Saudi Telecom Seeks Oman Stake in Regional Expansion [Jul 23]
"Saudi Telecom 7010.SE (STC) said on Wednesday it wants to buy the 25 percent stake Oman is selling in Oman Telecommunications Co OTL.OM
(Omantel), after it spent more than $6 billion in foreign expansion in 13 months. Shares of both firms jumped more than 3 percent after the largest Arab telecom firm by market value said it would seek to set foot in its second Gulf market outside of Saudi Arabia. Pre-qualified bidders will be announced by
the end of this month.. ..STC has spent in excess of $6.5 billion since June 2007 as it sought to catch up with regional rivals, such as
Etisalat, in expanding abroad while facing greater competition in Saudi Arabia, where penetration hovers around 100 percent. STC made its first foreign acquisition in June
2007 when it bought 25 percent of Malaysia's Maxis for $3 billion, opening markets in India, Indonesia and Malaysia.."
[more]
~~~~~~~~ [ Jul 22] ~~~~~~~~~
Dawn of Interfaith Peace [Jul 22]
"The Council of Ministers said Monday that the Madrid Declaration issued at the conclusion of last week’s world interfaith Conference on Dialogue has
the content to help peoples the world over arrive at common understanding and peaceful coexistence. A Cabinet statement said the conference initiated by King Abdullah, Custodian of the Two Holy Mosques, has received worldwide praise for bringing to the table the noble principles and morals at the
core of all religions, and which bind peoples together. HRH Crown Prince Sultan who chaired the Cabinet session said King Abdullah’ inaugural speech,
in which he had stressed that Islam is a religion of moderation and tolerance and that its message calls for constructive dialogue among the followers of
all religions, has become an official document of the conference. 'It promises the opening of a new page for mankind, in which concord replaces
conflict,'.." [more]
Women’s Rights in Kingdom [Jul 22]
" There are conflicting reports about the participation of women in the 2009 municipal elections. According to some government officials, there are still
many challenges that make it difficult for Saudi women to participate in the decision-making process of their country. This sorry situation is due to several major factors that continue to harm Saudi women and deprive them of the right to manage and lead organizations. The most obvious ones are
the long absence of any resistance toward blatant discrimination and women’s sad acceptance and resignation to their unfortunate fate. They make no demands to take charge of their lives or to reject the continued abuse and unjust policies. Moreover, the indifference of the educated elite and
acquiescence of the more moderate religious scholars who remained silent for decades contributed to ignorant and shortsighted restrictions that have
excluded women from all spheres of public life. However, this is no longer the case.."
[more]
EU-GCC Al-Jisr Project Announced [Jul 22]
" A major research project, the first of its kind to focus on the two regional blocs — the six-nation Gulf Cooperation Council (GCC) and the European
Union — has been launched by a Gulf think tank with an aim to contribute to the policy making process of the GCC and EU and also to boost links
between them. The project promoter Gulf Research Center (GRC) has signed an agreement with the European Commission to work on this two-year
project. 'The research project has been titled as ‘EU-GCC Al-Jisr Project for Public Diplomacy and Outreach’, which will mainly focus on the EU and
GCC-EU relations,' said Abdulaziz Sager, a Saudi businessman, who is the founder chairman of the Dubai-based GRC, an independent research
institute. The GRC seeks to pursue politically neutral and academically sound research works on the GCC countries and disseminate their findings and
knowledge as wide as possible.." [more]
Saudi Arabia's Real Oil GDP is Set to Increase by 5.6% [Jul 22]
"Saudi Arabia's economy is heading for robust growth despite the less benign global economic outlook and it is unlikely to be affected by the global
financial turmoil. Oil prices, which have reached a record high of $147 a barrel recently, are likely to remain high as demand from emerging market
economies is expected to support world demand for oil even if economic growth in advanced economies slows.. ..The Kingdom's real GDP growth is
expected to accelerate to 5.1 percent this year in line with increase in crude oil output, while private investment in the non-oil sectors is expected to gather
pace. The oil sector remains the core of economic activity in Saudi Arabia, providing the financial underpinning for government expenditure plans and
broader economic confidence. Despite oil production cuts in late 2006 and early 2007, real GDP growth slightly increased to 3.4 percent in 2007 from 3.1
percent in the previous year.." [more]
~~~~~~~~ [ Jul 21] ~~~~~~~~~
Mideast Deal is Doable: Brown [Jul 21]
"British Prime Minister Gordon Brown insisted yesterday that the gap between Israel and the Palestinians can be bridged and that a landmark Middle
East peace deal is achievable. After talks in Jerusalem and Bethlehem with leaders from both sides, Brown said he was confident that all outstanding
issues preventing an agreement could be hammered out. Asked by AFP whether he was confident that a deal could be reached on schedule, Brown said:
'When I say the difficulties can be bridged, that the problems that I have had described to me I believe can be solved, then I think there is an opportunity
within our grasp. There is a sense from what I have heard today that people feel that they can get to a solution'.."
[more]
Dell Granted Licence for Saudi Office [Jul 21]
"Dell has finally put down roots in the Saudi market after gaining a commercial licence from the Saudi Arabian General Investment Authority
(SAGIA) to operate an office in Riyadh. The PC and server vendor will use the new facility to manage its business in the Kingdom and oversee local relationships with channel partners and customers. It will also implement phase two of Dell branded services, which it launched last year, from the office.. ..Dell claims
to occupy the number one position in Saudi Arabia with a 26% market share based on first quarter IDC numbers. The firm says it will follow up the office opening with a recruitment drive to source local talent.." [more]
Indonesia Invites Saudi Firms for Show [Jul 21]
"Saudi Arabia and Indonesia are all set to enter into a new vision of commercial relation with two-way trade showing 70 percent increase during the first
two months of the current year. Jakarta, on the other hand, has invited a large number of Saudi businessmen to visit a major trade exhibition later this year,” said
Sintoyo, who heads the commercial section of the Indonesian embassy, here yesterday. 'The five-day trade exhibition to be hosted by Jakarta
will showcase the whole range of export products ranging from industrial, mining, agricultural to crafts and commodities of daily use,'.. ..The trade exhibition will run across Oct. 21 to 25.." [more]
Cut in Soaring Saudi Inflation Rate Urged [Jul 21]
"A study has recommended reducing the current high rates of inflation by improving the financial policy through decreasing expenditure and through
issuing of bonds that will 'dwindle the liquidity.' The Saudi Arabian Monetary Agency (SAMA) may issue bonds of various maturities to absorb the
current high liquidity. This may cut down inflation," said the study conducted by Arbah Financial Company (AFC). Citing the problems of the world
economy arising from the high prices of energy, the rising prices of food, the crisis of real estate credit in the United States, the study recalled that
inflation has become a worldwide problem not only limited to the third world countries but has hit the industrial countries as well. The study said that
internal and external factors have combined to push inflation in Saudi Arabia to an unprecedented level.."
[more]
~~~~~~~~ [ Jul 20] ~~~~~~~~~
Saudi Oil Price Summit Under Way [Jul 20]
"A crucial meeting of oil producing and consuming nations to discuss soaring prices is under way in Saudi Arabia. The US and other consumers have
urged producers to boost supply, blaming lack of capacity for the recent price surge. Top world supplier Saudi Arabia has made slight increases but says market speculation, not lack of supply, has driven prices to nearly $140 a barrel. Several nations have faced protests as rising fuel costs have hit
industries and helped push up food prices. Energy ministers from more than 30 countries, as well as senior executives from the world's largest oil
companies, are attending the conference in the city of Jeddah amid concerns that recent record oil prices are helping tip the US and other major
economies towards recession. They have announced a follow-up meeting will take place in London in October.."
[more]
Gulf States Look to Harvest Food From Foreign Investment [Jul 20]
"Faced with a scarcity of fertile land, water shortages and surging world food prices, wealthy Arab states in the Gulf are seeking to secure their food
supplies by investing in agriculture abroad. Saudi Arabia and the United Arab Emirates, the top food importers among Arab countries in the Gulf, are now looking to Asia and Africa as opportunities for agricultural investments.. ..Although these nations have huge oil reserves they are among the world's
poorest in natural water resources and arable land -- just two percent of the vast Saudi desert kingdom and one percent of the UAE. GCC food imports cost 10 billion dollars in 2007, said the GRC study, although some press reports put the figure much higher. Saudi Arabia, with a population of about 24
million, remains the largest food importer.. ..For Saudi Arabia investing in agriculture abroad marks a shift from its own costly crop self-sufficiency scheme. 'In the 1970s and 1980s Saudi Arabia developed its own agricultural sector for food security,' said Monica
Malik, economist at the Dubai-based EFG-Hermes investment bank. 'However the sector had to be highly subsidised by the government for it to be economically viable given the climatic conditions,'.." [more]
Arab League Slams ICC Prosecutor [Jul 20]
"The Arab League yesterday criticized the International Criminal Court’s prosecutor for seeking the arrest of Sudan’s president on genocide charges,
saying diplomacy should be given a priority to solve the conflict in Darfur. Arab foreign ministers, holding an emergency meeting in Cairo, said Arab League Secretary-General Amr Moussa would head to Khartoum today to inform the Sudanese leadership of a plan to defuse the crisis. Moussa said he
would announce the details within two days. The chief prosecutor of the International Criminal Court
(ICC), Luis Moreno-Ocampo, has asked the court
for a warrant for President Omar Bashir on suspicion of masterminding crimes against humanity in his country’s troubled Darfur region.. ..Before
yesterday’s meeting, a source said the ministers would discuss a proposal urging Bashir to surrender Harun and Kushayb to the ICC in return for asking the UN Security Council to defer prosecution of Bashir for at least a year. Such a suspension, which is indefinitely renewable, is necessary because the
penal process against Bashir 'reduces the chances of peace in Darfur,' a diplomat said.."
[more]
Saudi Arabian Airlines Sets Privatisation Strategy [Jul 20]
"Saudi Arabian Airlines, the world's fifteenth largest carrier, is accelerating expansion of its fleet and enhancement of its operating systems in a strategy
designed to prepare the airline for privatisation. A range of new aircraft have been procured and delivered in the last 18 months with the latest order announced at the Farnborough air show in the UK for Airbus medium range airliners.. ..Saudi Arabia Airlines privatisation strategy is to be a staged
process. In January, Al Molhem announced that the state-owned airline's aviation services could be privatised within two years. The process for other units of the business has already started.." [more]
Saudi's Mobily Profit Soars 47% [Jul 20]
"Etihad Etisalat (Mobily), Saudi Arabia's second-largest mobile phone company by market value, reported a 47.4 per cent rise in second-quarter net
profit, almost double the rise in earnings from operations. Mobily, an affiliate of Emirates Telecommunications, said net profit was 448 million Saudi riyals ($119.5 million) for the three months to June 30, compared with 304 million riyals in the year-earlier period..
..Mobily competes with Saudi
Telecom, the second-largest Arab telecom firm by market value, for mobile phone users in the kingdom. Zain Saudi Arabia, an affiliate of Kuwait's Mobile Telecommunications
(Zain), plans to start operations this year after selling shares to the public in the first quarter.."
[more]
No Jobs Force Youth To Take Up Smuggling [Jul 20]
"Security authorities have said that unemployment in the border regions has become a threat to the security of the Kingdom. These unemployed young
Saudis are being recruited and exploited by smugglers and criminals.. ..Unemployed youth are being employed to smuggle contraband substances such
as drugs and qat as well as weapons. Security analysts in the Kingdom have compared this growing problem to a ticking time bomb. Over the last
several years there have been many reports of gangs being formed to smuggle illegal substances and also to smuggle in people. Official statistics released
by the Ministry of Economy and Planning said the unemployed constitute 11 percent of the workforce, equaling half a million young Saudis.."
[more]
Stocks Rebound on Corporate Results [Jul 20]
"The Saudi stock market rebounded yesterday after falling 1.52 percent last week. The market was volatile last week due to turbulence at the global
equity markets and expected results of the blue-chip Saudi companies. The Tadawul All-Share Index
(TASI) jumped 212.57 points or 2.4 percent on expectation of strong Saudi Basic Industries Corp.
(SABIC) second quarter results. SABIC later said it made a net profit of SR7.54 billion in the three
months to June 30 compared with SR6.47 billion in the second quarter of 2007. Its shares also surged 1.66 percent to SR137.25.. ..The BMG Saudi index increased 2.5 percent to 498.2 points yesterday. The market’s total turnover surged almost by two folds witnessing a strong 86.1 percent increase to SR5
billion ($1.3 billion), compared to SR2.7 billion ($719 million), registered in Wednesday’s trading session. All sectors experienced gains yesterday, with the best performance achieved by the telecommunications sector.." [more]
Over 60 International Films for JFF [Jul 20]
"Several dozen films from the Kingdom, the Gulf, Japan and the US will be shown over four days as part of the Third Jeddah Film Festival.
The festival will be launched by Mayor of Jeddah Adel Faqeeh July 22. '50 directors from Saudi Arabia, Bahrain , Qatar, Kuwait, USA and Japan will
show some of the 67 films, however Japanese actors will display animated films only,' said Mamdoh
Salim, supervisor of the film festival.This year will be the first time Saudi women will be allowed to show their own films. Two Saudi female film makers will be making their debut at the
festival.. ..The festival will be divided into three different categories; fiction, documentaries, and animation. Salim said the longest film is 100 minutes
long, whereas the shortest film will be less than 10 minutes long. This year’s festival, unlike previous festivals will have three categories of prizes at the
end; best story, best performance, and best cinematography.." [more]
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