|
~~~~~~~~ [ Aug 9] ~~~~~~~~~
Tadawul Falls by $18bn as Investors Take Flight [Aug
9]
"Saudi Arabia's bourse dived by nearly $18 billion (Dh6bn), while
most other Gulf exchanges recorded relative stability as regional
markets entered the first week of another calm summer month, official
figures showed yesterday. While speculation and market fundamentals
dominated most markets in the Gulf Co-operation Council (GCC), the Saudi
Tadawul bourse in Riyadh was gripped by a recent decision by market
regulators that the names of investors holding stakes of at least five
per cent in any of the 125 listed companies would be published on daily
basis. The decision, which would be enforced in mid August, and is
intended to bring Tadawul in line with Western standards of market
transparency, provoked an exodus of capital as Saudi Arabian investors
feared their holdings would become public knowledge.. ..According to its
study, the relatively closed nature of the Saudi market, combined with a
lack of visibility, has in the past encouraged speculative action, with
trades often following rumour rather than clear market signals. It said:
"The attempt to list large shareholders forms part of the
regulator's move towards shedding this somewhat opaque
reputation.." [more]
Oil Supply Crunch Seen in 2013 [Aug 9]
"The world faces a serious oil supply crunch within five to 10
years that may drive prices up to more than $200 a barrel, a British
think tank said on Friday. The Chatham House report says $200 oil is
possible, barring a collapse in demand, because of inadequate investment
by oil companies in raising output - not because of a lack of oil
underground. A supply crunch appears likely around 2013, 'even allowing
for some increase in capacity over the next few years,' says the report
by Paul Stevens, a senior research fellow at Chatham House. 'The
implication is that it will quickly translate into a price spike
although there is a question over how strategic stocks might be used to
alleviate this," the report adds, concluding that "a spike of
over $200 is possible.' The report concedes that it uses a
'controversial and extremely bullish' forecast of future oil demand and
supply. It assumes Saudi production capacity will remain flat after
reaching 12.5 million barrels per day in 2009 and that the capacity of
other OPEC countries remains flat after 2008.." [more]
Ministry Admits Education Project Obstructed [Aug 9]
"The Education Ministry said the King Abdullah Project for
Educational Development is being obstructed by five major obstacles. The
main obstacle is the 10-month delay in allocating the SR9 billion
budget, a ministry official told Okaz. With the delays specialists from
within the Ministry could not be recruited to work in the project
because there was no way to gurantee salaries, the official said. There
was also lack of qualified Saudis to join the education development
project, the official said. Shoura Council member, Abdul Aziz Al-Thonaiyan
said the project will need private sector investment if the full scope
of the project is to be realized.." [more]
~~~~~~~~ [ Aug 8] ~~~~~~~~~
KSA’s Own Silicon Valley [Aug 8]
"King Saud University (KSU) expects the Riyadh Technology Valley (RTV) to generate 22,000 jobs for Saudis including university graduates, researchers and economists
according to a report released by the university. The RTV project is set to attract 43 local and international companies to invest in the 1.2 million square meter project located
near KSU. At the July launch Shoura Council member Abdul Rahman Al-Zamil said, 'The RTV is a serious effort from KSU to realize the vision of Custodian of the Two Holy
Mosques King Abdullah to transform the Kingdom into a knowledge-based economy with the cooperation of institutions of higher learning and the private sector.'.. ..The
RTV project is geared towards contributing to the development of a technically knowledgeable workforce. Five main zones will be created inside the RTV complex. Each
zone carrying research in different fields.." [more]
Diplomat's Murder Adds to Saudi Development Concerns [Aug 8]
"The Saudi Arabian Embassy says the murder of a Saudi diplomat in Canberra 10 years ago adds to its security concerns over a Deakin development. The Saudis are
applying for an extension of time in the ACT Administrative Appeals Tribunal to lodge an objection against a unit development being built on the Embassy Motel site.Lawyers for the embassy say the
six-storey Ambassador Apartments will provide a direct line of sight into the embassy, compromising security. They also say the fact a
Saudi diplomat was murdered in his Kingston apartment a decade ago adds to security concerns. But lawyers representing the developer have dismissed the assertion,
saying the diplomat was killed for personal reasons and not because of his role at the embassy.."
[more]
OPEC Looks on Calmly as Oil Price Falls [Aug 8]
"OPEC has held its nerve while oil prices have dropped nearly 20 percent in a month and the producer group is expected to let the market slide further before taking any
action to cut output. Oil traded at below $120 a barrel on Friday, down from a July peak of $147.27 as soaring fuel prices and an ailing economy have cut consumption in
the world's largest energy consumer the United States. Members of the Organization of the Petroleum Exporting Countries (OPEC), source of more than a third of the world's oil, have shown scant concern. 'At the moment, and at this level, there is no movement within OPEC to do anything,'.."
[more]
Almajdouie, Sinotrans Form Joint Venture [Aug 8]
"A leading business house of Saudi Arabia, Almajdouie Group, and Sinotrans Ltd. of China have signed an agreement to operate a joint venture logistics company in Saudi
Arabia. The joint company, named as Almajdouie Sinotrans Middle East, will operate in the areas of customs clearance, heavy oversized cargo handling and inland
transportation services. 'Both groups were working together for past three years in Saudi Arabia and successfully completed the project logistics management including customs clearance, heavy oversized cargo and inland transportation services by moving equipment for five cement production lines of Sinoma International Engineering Co.
Ltd. in Saudi Arabia and providing quality service by delivering over 500,000 freight tons cargo to the site,' said Abdullah
Al-Majdouie, vice president of Almajdouie Group,
while speaking on the occasion of the signing ceremony.." [more]
Saudi Arabia Sees 30% Drop in Immoral Crime Rate [Aug 8]
"The rate of immoral crimes in Saudi Arabia has declined by 30 per cent, according to an annual report issued by the Commission for Promotion of Virtue and Prevention of
Vice [religious police in Saudi Arabia]. The report released here yesterday did not specify the reason for the drop in immoral crimes. The Commission for the Promotion of
Virtue and Prevention of Vice is a religious government institution responsible for controlling and fighting immoral offences, prostitution dens and sexual molestation among
youth. The report revealed that there was a total of 34,000 immoral crimes in the past year, representing 11.6 per cent of the total crimes and offences registered by the Saudi
Vice Squad in all parts of the Kingdom. This showed that there was a 30 per cent decline in the number of these crimes compared to the previous year.."
[more]
~~~~~~~~ [ Aug 7] ~~~~~~~~~
Religion Today [Aug 7]
"Early last Saturday, senior members of the Saudi royal family and religious establishment took up brooms and cloths perfumed with rosewater to wash the interior of the
Kaaba, the sacred stone structure that Muslims face during their five daily prayers. Barefoot and dressed in traditional long, white robes, the men finished the cleaning
ceremony by wiping the marble walls and floors of the small room with scented oils, re-enacting a tradition started by Prophet Muhammad almost 1,400 year ago. The ritual, carried out twice a year, offers a peek inside the stark interior of the structure Muslims call the navel of the world. Muslims consider the Kaaba, which stands in the
middle of the Grand Mosque in Mecca, as the holiest site in Islam because they believe that God created the universe from the place where it stands. The sacredness of the
place gives special significance to the washing ceremony. It is carried out before the holy fasting month of Ramadan, which falls in early September this year, and a day
before Eid al-Adha, or the feast of sacrifice, which follows less than three months later. The only other time the Kaaba is opened is when Muslim dignitaries — such as a head
of state — request to go in.." [more]
New Nissan Advert Sparks Gulf Furor [Aug 7]
"Gulf countries may boycott the Nissan Motor Company after an Israeli TV commercial depicting Saudis angered by a fuel-efficient car, according to a Saudi official. The
advertising campaign, created by Renault-Nissan, led to an uproar among the Arab and Muslim population in the Gulf when it showed a group of Saudi oil barons
sreaming and attacking the Renault-Nissan vehicle. The advertisement, which has been airing in Israel, depicts wealthy Arab oil barons cursing and hitting the
Tiida, angered at the car being so fuel efficient.. ..Many Arabs perceive that the company made a huge mistake running the ad and should therefore come forward with an apology
if it cared to keep its interests in the region. 'It's my opinion that Nissan made a huge error by igniting these [racist] instincts,' official Hani
al-Wafa told MBC TV, a Saudi-run
station headquartered in Dubai, United Arab Emirates. 'We need to apply punishments... against these things. In order for Nissan to keep its interests in the region, it must apologise.'.." [more]
OPEC Capacity Set to Increase to 36.9 mbpd [Aug 7]
"As global demand for oil increases, the Organization of Petroleum Exporting Countries (OPEC) has embarked upon substantial investments, both upstream and
downstream, to ensure that the world economy benefits from regular and secure oil supplies. OPEC spare capacity has played a critical role in ensuring that oil markets
remained well supplied and the industry is investing heavily to expand capacity. OPEC crude oil production capacity (excluding Iraq) is projected to increase to around 36.9 million barrels per day
(mbpd) by 2010 from 31.7 mbpd in 2005. In addition, Iraq’s recovery should contribute significantly to raising OPEC’s overall production capacity,
according to information available on OPEC website.." [more]
Saudi Funds Hit Hard as Global Markets Decline [Aug 7]
"Saudi Arabia’s fund managers are nervous about their bonuses this year as few mutual funds listed on the kingdom’s bourse have made gains, pulled down by market
volatility and an uncertain global economy. The biggest losers are mutual funds invested on international markets. Out of 45 of these funds listed on
Tadawul, only one has
made gains this year, according to data on the exchange’s website. Of the 18 listed 'Arab Funds' on
Tadawul, only seven have made gains. 'Usually we tell our clients that
diversification is good as not all markets move together,' said Adel al-Ateeq, the director of asset management for Riyad Capital. 'But this year it’s strange. All markets are
down; local, regional and international.' Al-Ateeq believes that the US credit crunch has pulled down global markets for the short term and that they will rebound later.."
[more]
Medical Supplies From KSA for Palestinian Refugess [Aug 7]
"The Interior Minister visited the Palestinian embassy in Beirut to discuss distribution of medical supplies totaling close to SR3 million raised for Palestinian refugees in
Lebanon, the Saudi Press Agency reported. Interior Minister, Prince Naif Bin Abdulaziz and General Surpervisor of the Saudi Popular Campaign for the Relief of the
Lebanese People met with Palestinian officials at the embassy in Beirut to discuss how to distribute the aid to the over 40,000 Palestinian refugees in Lebanon.
The aid was specified to the Nahr El-Bared and Beddawi camps. The Nahr El-Bared refugee camp is located 5km from the city of Tripoli and has close to 30,000 displaced
Palestinians living there. The Beddawi camp has over 16,000 Palestinians refugees.."
[more]
Universities to Enroll 236,000 High School Grads [Aug 7]
"The Kingdom’s universities will enroll more than 236,000 students who passed out of the secondary schools this year, according to Higher Education Minister Khaled
Al-Anqari. Approximately 88 percent of the 267,122 secondary graduates schools would be able to join for higher education in the new academic year,
Al-Anqari said in his
statement to the Saudi Press Agency. 'The Ministry of Higher Education strives to accommodate as many students as possible and in response to the needs of the job market.
As the number of colleges and universities are growing, 170 percent more men and women students could go for higher education than 2007,'.. ..the government has been
striving to improve the educational level in the Kingdom and that is why the it sends more and more students to foreign universities on scholarships and supports institutions
of higher education in the private sector.." [more]
~~~~~~~~ [ Aug 6] ~~~~~~~~~
Saudi Arabia's Shopping Mall Goldmine [Aug 6]
"The Saudi retail market can only be described as a goldmine, with its large population of young adults and the increasing number of shopping malls which are being built
to accommodate the increasingly affluent and highly mobile population.. ..The Saudi apparel retail industry is one of the high-growth markets in the Arab region especially
in the women and children segments. The apparel business grew rapidly over the last several years as people became more fashion-oriented. 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. In fact according to Colliers International, Riyadh has 2.5 million square meters of gross leasable shopping mall space in Riyadh versus 1.1 million in Jeddah and 1.7
million in Dubai as of 2007.. ..Despite the fact that all women wear the traditional Abaya on top of their clothes, underneath the
abaya, Western dress is most common.."
[more]
Saudi Authorities Intensify Umrah Preparations [Aug 6]
"Saudi authorities have intensified preparations to receive Umrah pilgrims in Makkah and visitors of the Prophet's Mosque in
Madinah. The number of people who will
come from all over the world to perform Umrah and visitors is expected to increase considerably in Ramadan since it will coincide this year with the summer vacation period..
..Makkah has been witnessing for more than two weeks an influx of thousands of people who come to perform Umrah and spend the summer holidays. It is expected that more than three million people will arrive from abroad to perform Umrah during the coming month of Ramadan, in addition to Umrah performers from inside the kingdom.
The concerned Saudi authorities have provided all necessary facilities at sea, land and airports and prepared various religious and other programmes for visitors of Makkah
and Madinah during Ramadan. Ramadan is regarded the most important time for Muslims to perform
Umrah, and this explains the reason for the influx of visitors throughout this month, particularly in the last ten days.." [more]
Calls For End to Saudi Child Marriages [Aug 6]
"An 11-year-old boy gave out invitations to his classmates for a big event his family was planning this summer — and it wasn't his birthday party. It was his wedding to a
10-year-old cousin. Muhammad al-Rashidi's marriage was eventually put on hold, his father said, after pressure from the governor of the northern province of Hail, who
considered the elementary school student too young to marry. The case is among a recent spate of marriages involving the very young reported in the media and by Saudi human rights groups. They have been widely denounced by activists, clerics and others who say such unions are harmful to the children and trivialize the institution of
marriage.. ..There are no laws in Saudi Arabia defining the minimum age for marriage. Though a woman's consent is legally required, some marriage officials do not seek it.
For example, a father can marry off a 1-year-old girl as long as sex is delayed until she reaches puberty.."
[more]
Lawyers Seek Urgent, Sustainable Legal Reforms [Aug 6]
"Courts across the country are overloaded and quite often understaffed, lawyers say, making the case for “urgent and sustainable” reforms in the country’s judicial system for
which the government has already allocated SR7 billion.. ..There is general agreement that direction, planning and coordination are all substantially missing from many law
firms in the country, be they private institutions or associations. Experienced lawyers and newcomers alike struggle to keep afloat within an ever changing set of rules and
circumstances brought about by globalization. Family legal problems are easier to handle rather than the broad range of corporate and business oriented legal problems, the
lawyers say. In corporate cases the intentions are often not clear and there is no direct focus on content, making court procedures cloudy for the presiding judge. Hence court
cases are too often settled out of court due to endless delays as well as lack of transparency. Another problem crippling the legal system is that not many Saudis are taking to
the law profession.." [more]
~~~~~~~~ [ Aug 5] ~~~~~~~~~
Quranet Project is an Attempt to Serve Political Agenda of Israel [Aug 5]
"Israeli ‘Quranet’ project is aimed at interpreting the Quran to serve the political agenda of Israel, warned Saudi scholars and researchers. The scholars expressed doubts
about the real objective of the online Quran interpretation project called
Quranet, which was recently launched by the Israel’s Foreign Affairs Ministry to serve as a 'bridge
between the Muslim world and the West'.. ..In a statement to Gulf News, Dr. Al Mutlaq stressed that the Israeli Quranet project should not be trusted by Muslims since it is run by Jews who openly show their hatred to Islam and Muslims. 'A Muslim, who wants to abide by Islamic teachings, should not depend on this website for interpretation
of the Holy Quran whatever the case,' he said. He warned that Muslims should not be deceived by Israeli allegations that 'the Quranet transforms the Quran into a unique
and useful educational tool for parents and teachers, and thereby renders the beneficial power of the Quran widely accessible'.."
[more]
Saudi Relief Convoy Providing Aid to Flood Victims [Aug 5]
" Saudi Relief convoy is traveling to seven regions of Sudan to provide relief for flood victims of last year’s flood. The relief convoy is part of the first phase ordered several
months ago by King Abdullah, Custodian of the Two Holy Mosques to provide relief to flood victims, the Saudi Press Agency reported. In July 2007, heavy rains and flash
floods swept through central, eastern and southeastern Sudan. Over 15,000 homes were destroyed..
..Hasabo Mohammed Abdulrahman, Commisioner General for Humanitarian Aid in Sudan said the convoy consists of food, pesticides, ambulances, tanks. In addition the aid will also provide water and electricity equipment for several
regions. As part of the SR75million aid project emergency hospitals will be dispatched to the areas worst affected by the flood last year.."
[more]
95% of Saudi Women Suffer Abuse [Aug 5]
"As many as 95 percent of women in Riyadh have been subjected to a form of physical or emotional abuse from within their family, according to a new survey. The survey –
which constituted of 80 women being interviewed about their family life - revealed that 75 percent have been abused both psychologically and verbally. Another 25 percent
said they had been sexually abused by a family member.. ..Dr Majed Al-Isa, Medical Director in the Family Safety program for the National Guard said verbal and
psychological abuse are the main forms of abuse used by families. He told the newspaper that the degree of education has no bearing on how much abuse a person is
subjected to.." [more]
Oil Falls Below $120 as Opec Production Rises [Aug 5]
"Oil fell below $120 a barrel yesterday, pressured by evidence of rising Opec output in the midst of declining demand in the US and Europe. The losses, adding to a record
slide from the mid-July peak over $147 a barrel, came despite a storm in the Gulf of Mexico that was curbing oil production, shipping and refining.. ..The losses came after a
Reuters survey showed Opec supply rose for a third consecutive month in July mainly because of increased output from the world’s top exporter Saudi Arabia. The boost in
production from Opec comes as soaring energy prices and an economic slowdown cut into consumption in the US and Europe. 'The market is focused on falling demand
with Opec seen producing more oil,'.." [more]
Saudi Arabia’s Natural Gas Demand to Surge Over Next 25 Years [Aug 5]
"GCC demand for gas is growing faster than the region’s demand for oil, with projections that it could increase to the oil equivalent of more than 4 million bpd by 2010 and to
5.1 million bpd in 2015 and 6.4 million bpd to 2020. According to OPEC the growth is expected to expand the proportion of gas in the Arab energy market to more than 46
percent by 2020. Saudi Arabia’s natural gas demand is expected to reach 14.5 billion cubic feet-a-day over the next 25 years, compared to around 5.5 billion
cf/d at present. All of Saudi Arabia’s already substantial gas production is for domestic use, but much more is urgently needed and so far little has come from gas exploration projects with
international oil companies in the Empty Quarter. However, there are other good prospects on and offshore and Saudi Aramco has committed $1.5 billion to almost
doubling output from its Karan gas field in the Gulf which is estimated to contain at least 9 trillion cubic feet of gas.."
[more]
Interior Ministry to Study Bidoon Issue [Aug 5]
" An official of the Civil Affairs Department at the Ministry of Interior said his agency is currently studying the issue of the Bidoon (stateless people) in the Kingdom.
'The study on the immigrant tribes has been launched with the aim of finding solutions to their problems,' he said, referring to the nomadic tribes who settled in Saudi
Arabia.. ..Zuhair Al-Harithy, the spokesman for the National Society for Human Rights, said last week that the commission would set up a committee to study the problems of stateless people in the Kingdom. Their major demand was Saudi citizenship, and removing the obstacles in the way of their children’s education and medical care. The
Arabian Peninsula is home to a large population of nomadic or rural-sedentary Arabs. Many tribespeople still live in Bedouin encampments (or small out-of-the-way villages)
without any civil status.. ..Saudi Arabia is home to a large population of these stateless Arabs who, due to their culture and rugged independent lifestyle, haven’t become
officially recognized as citizens of the country. A lack of civil status shuts these Bedouin out of social benefits.."
[more]
~~~~~~~~ [ Aug 4] ~~~~~~~~~
Shoura Expansion Expected [Aug 4]
"The number of Shoura Council members is expected to be increased from the present 150 to 180 in its next session, according sources. The number of female advisers too is
expected to increase from six to 11, the sources said.. ..The Shoura Council enjoys the same powers as western parliaments. It is entitled to enact laws, oversee the functions of
governmental agencies and investigate public cases. The Shoura Council started its sessions with 60 members. But in the next session, the number was increased to 90, then
to 120 in the third session. The current number of members is 150. Having been expanded in 1997 and 2001, the council achieved a place in the International Parliamentary
Union by the end of 2003.." [more]
Qatari Premier and Asharq Al-Awsat Reach Amicable Settlement [Aug 4]
"A case filed by the prime minister of Qatar against Asharq Al-Awsat has been settled out of court without any payment for damages, Al-Riyadh newspaper reported
yesterday. Sheikh Hamad bin Jassem Al-Thani, prime minister and foreign minister of Qatar, filed the suit against the newspaper in a British court of law.. ..the agreement
stipulates that the two parties would bear their own financial expenses, that a correction would be published in Asharq
Al-Awsat — both in print and online, that a correction
would be read in court, and that the newspaper would never again publish the contents of the original articles, which drew the case. Sheikh Hamad had filed the case in
objection to three articles in Asharq Al-Awsat, which alleged that the Qatari leader visited Israel while on his way from Damascus to Beirut to attend a meeting of Arab foreign
ministers during Israel’s war against Lebanon in the summer of 2006.."
[more]
Saudi Inflation Reaches 30-Year High [Aug 4]
"Saudi Arabia's annual inflation rose 10.6 per cent in June to a 30-year high due primarily to increases in food and housing costs, official data released on Sunday showed.
The cost of living index for the largest Arab economy rose to 115.5 points on June 30 from 115 points in May, the Saudi Press Agency cited a report by the Ministry of
Economy and Planning's Central Department of Statistics. 'We could be reaching some kind of plateau within three months but we don't see a rampant inflation that is out of control,' said John
Sfakianakis, chief economist at SABB bank, HSBC's subsidiary in Saudi Arabia.. ..Saudi Arabia's annual inflation may hit its peak towards the end of
the third quarter which coincides with the end of Ramadan, the Muslim fasting month which sees a surge in both consumption and prices, he said.."
[more]
Saudi Equity Market Cap Reaches SR1.70 Trillion [Aug 4]
"The Saudi stock market’s decline continued to an eighth consecutive trading day yesterday. The Tadawul All-Share Index
(TASI) fell 6.26 points after falling over 107 points
on Saturday after Tadawul announced new transparency rule which will be effective from Aug. 16. The market may be heading for more sell-off because of the new rule to
disclose names of investors with stakes of 5 percent or more. Out of 124 companies traded, shares of 58 companies increased while 40 firms were in the red. Over SR4.2
billion worth of shares changed hands yesterday. Tadawul also announced the stock market performance report for the month of July. According to the Tadawul’s statistical
report, at the end of July TASI closed at 8,740.74 points, which is 611.58 points or 6.54 percent lower than the previous month.."
[more]
GCC Demand For Gas Growing Faster Than for Oil [Aug 4]
"GCC demand for gas is growing faster than the region's demand for oil, with projections that it could increase to the oil equivalent of more than 4 million bpd by 2010 and
to 5.1 million bpd in 2015 and 6.4 million bpd to 2020. According to OPEC the growth is expected to expand the proportion of gas in the Arab energy market to more than
46% by 2020. Saudi Arabia's natural gas demand is expected to reach 14.5 billion cubic feet-a-day over the next 25 years, compared to around 5.5 billion
cf/d at present.. ..All
of Saudi Arabia's already substantial gas production is for domestic use, but much more is urgently needed and so far little has come from gas exploration projects with
international oil companies in the Empty Quarter. However, there are other good prospects on and offshore and Saudi Aramco has committed $1.5bn to almost doubling
output from its Karan gas field in the Gulf which is estimated to contain at least 9 trillion cubic feet of gas.."
[more]
Iran Foreign Minister in Saudi Arabia to Attend OIC Meeting on Sudan [Aug 4]
" Foreign Minister Manuchehr Mottaki is currently on a visit to Saudi Arabia to attend a meeting of the executive committee of the Organization of the Islamic Conference, it
was announced on Monday [4 August]. Foreign Ministry spokesman, Hassan Qashqavi made the announcement while talking to domestic and foreign reporters during his
weekly press briefing. Qashqavi said that participating delegates would discuss Sudan crisis in the OIC meeting. The spokesman added that during the meeting, Mottaki is
expected to voice Tehran's support for the Sudanese government and nation.."
[more]
~~~~~~~~ [ Aug 3] ~~~~~~~~~
Return Home Call to Saudi Women [Aug 3]
"A CALL has gone out to Saudi women studying in Bahrain and abroad to take their skills and experiences home with them. Their search for more freedom abroad is a
dangerous trend, robbing their own country of women who could help lead the fight for change, says Saudi writer and women rights activist Wajeha Al
Huawaider. Many
Saudi women are living outside their country to get their independence, without being ruled by or having to rely on men, says Ms Al
Huawaider. 'Women in Saudi lose their
existence and become crippled beings, who cannot do many things independently,'.. ..But she says the exodus is a dangerous trend, because if all educated liberal women
leave the country, there won't be any left for changing it. 'What if new positions in the government, like the Shura Council, let women join? Where do we get the right
women for the job if they all leave?' said Ms Al Huawaider. She said young females should try life outside Saudi so they can build their personalities and get more experience
in the real world. 'Then they should come back after they get enriched by the experience to serve their country, which needs them the most,'.."
[more]
Saudi Non-oil Exports top SR10bn in May [Aug 3]
"Saudi Arabia's non-petroleum exports during the month of May showed a hike of 19% compared to the same month last year. These exports were valued at SR10.278m
compared to SR8.672m, while the tonnage of exports also increased by 17% to 3,883 tons, compared to 3,305 tons in May 2007. Petrochemicals continued to be the country's
most important commodities exported during the month of May. This was followed by plastics, plastic products, base-metals and re-exported commodities. During the same
month, the total value of Saudi imports also showed an increase of 12% to SR31.778m, compared to SR28.459m in May 2007.. ..During the period under review, The United States topped the list of countries that export commodities to Saudi Arabia, followed by China, Germany, non-Arab Asian countries and Islamic groups of countries, EU
countries and North America.." [more]
Saudi Maaden to Borrow $8 bln in Q3/2009 [Aug 3]
"Saudi Arabian Mining Co .. .. will borrow about 30 billion riyals ($8 billion) in the third quarter of 2009 to fund a planned aluminium plant in the kingdom, a Kuwaiti
newspaper quoted its CEO as saying on Sunday. The loan will be 'international and in conformity with Islamic regulations', Kuwait's
al-Rai newspaper quoted as saying
Maaden's Chief Executive Abdullah al-Dabbagh. The funds will help finance a planned 740,000 tonnes per year aluminium smelter, that will be jointly developed in the kingdom with Rio Tinto at a total cost of $10.55 billion.. ..The estimated cost of the project has risen 40 percent due to the rise in contracting costs as well as domestic rise in
the cost of labour and also to a 14 percent increase in the planned plant's production capacity, Maaden said earlier this week. It was the second time Maaden revised up the
project's cost which it raised in May to $7.53 billion from $7 billion.."
[more]
King Approves E-learning Conference [Aug 3]
"The first international conference on electronic and distance learning has been approved by King Abdullah, Custodian of the Two Holy Mosques for March 18, 2009.
Minister of Higher Education, Khaled Bin Mohammad Al-Anqari, said the plan goes hand in hand with a national IT plan initated by King Abdullah in order to improve the
knowledge economy. He said the conference should benefit from the expertise of other countries in improving electronic and distance learning within Saudi Arabia.."
[more]
Al-Haramain Refiles Suit Against US Wiretapping [Aug 3]
"In yet another blow to the American terrorist surveillance program, the
Al-Haramain Islamic Foundation (AHIF) has refiled a lawsuit in San Francisco federal court accusing
the Bush administration of illegal wiretapping. The suit follows the recent dismissal by a US court of the original lawsuit filed by the Oregon-based American branch of the
now-defunct AHIF, which was declared a terrorist organization by the US Treasury Department in 2004. 'The refiling of the suit has asserted that the Bush administration had circumvented the US Constitution by authorizing wiretaps,' M. Wendell
Belew, president of the Friends of Charities Association (FOCA), said yesterday. Belew added
that the AHIF has gone back to court, accusing the Bush administration of intercepting phone calls between AHIF’s Saudi directors and two of their US-based lawyers..
..Referring to the refiling of the lawsuit, Belew said several public disclosures about the Bush administration’s surveillance program in general and about the AHIF’s role in
particular could help Al-Haramain’s lawyers prove their case.." [more]
A Subversive Soap Roils Saudi Arabia [Aug 3]
"A Turkish soap opera featuring an independent fashion designer and her amazingly supportive and attractive husband is emptying the streets whenever it's on and has more
than doubled the number of Saudis visiting Turkey this summer. Millions of people -- especially women, apparently -- are tuning in nightly to find out whether the couple
will stay together or be torn apart by jealousies and old flames. But 'Noor,' the story of a multi-generational, upper-class Turkish family, has also sparked a backlash. The
show has become the subject of angry Friday sermons in this strict Islamic kingdom, and the country's chief cleric recently issued a fatwa calling it 'decadent' and sinful to
watch.. ..The fascination with the show and the lush scenery has propelled more than 100,000 Saudis to travel to Turkey this year, according to Turkish diplomats, up from
about 40,000 last year. The fictional home of Muhannad's family has been rented by tour operators and turned into a temporary museum for visitors. Saudi magazines have
featured several spreads of the luxury villa on the Bosporus in Istanbul where the show was shot and interviewed Saudi tourists there.."
[more]
Olympics Security Poses Visa Problems [Aug 3]
"The new measures adopted by the Chinese authorities to provide security to the Olympic Games in Beijing on Aug. 8-24, including restrictions in granting entry visas, have
caused havoc among Saudi merchants and importers, Al-Eqtisadiah newspaper reported yesterday, quoting Saudi businessmen. Nabeel
Bafadul, a Saudi businessman, told
the newspaper that it was anticipated that Olympics would cause some difficulty in obtaining entry visas to China but did not expect the restrictions to be so severe. Officials
at the Chinese Consulate in Jeddah cannot be reached for comment, but the daily quoted an unidentified source at the consulate as saying that these measures were being
applied on all countries, not just Saudi Arabia.. ..Anwar Qashgari, another Saudi businessman, agreed with Bafadul and said there has been a complete halt now on the
issuance of visas to China. 'If you do not already have an entry visa, you cannot get one now,' he said. He said he had applied for a visa before the new restrictions and was
only given six months. 'This is not enough as we have to visit many Chinese cities to see the products that we import in their places of origin,'.."
[more]
India Calls for Probe Into Worker’s Death [Aug 3]
"The government of India has asked authorities in Saudi Arabia to probe an incident in which an Indian worker died after allegedly being assaulted by his workplace
supervisor. 'A formal communication has been sent to the Ministry of Foreign Affairs to probe the death of worker Sudheesh Kalathil Parambil Narayanan, 34, who
succumbed to injuries two weeks after the alleged assault,'.. ..The Egyptian supervisor who allegedly beat Narayanan has neither been arrested nor charged. Repeated calls to get a comment from Narayanan’s sponsor, Abdulmohsen
Al-Koban, owner of KGC Construction Co., went unanswered. Meanwhile, the Federation of Kerala Associations,
Saudi Arabia (FOKASA), held an emergency meeting in Riyadh on Thursday night to discuss ways of helping the bereaved family.."
[more]
|
