|
~~~~~~~~ [ Jun 27]~~~~~~~~~
Saudi-Egyptian Summit to Discuss Mideast Peace [Jun
27]
"King Abdullah and Egyptian President Hosni Mubarak are to hold a
summit meeting in Jeddah Sunday to discuss issues including the Arab
response to Benjamin Netanyahu’s recent speech, the Palestinian
reconciliation process and strengthening Saudi-Egyptian strategic
relations. Sources said the summit meeting would provide the opportunity
for the two leaders to exchange views on proposals from the Obama
administration regarding regional issues and on strengthening joint Arab
work.." [more]
Banks Lead Saudi Index to Lower Close [Jun 27]
"Banking stocks lead the Saudi bourse's all-share index to a lower
close mainly due to concerns over their exposure to troubled
family-owned businesses and after the announcement of poor credit data
for May. The all-share TASI index ended 0.14 percent lower at 5,601
points. Samba Financial Group, the second-largest listed lender, led
losers after it closes 4.06 percent lower at 42.5 riyals ($11.33), its
lowest level in almost three months.. ..'Banks are pressing negatively
on the market. There are no disclosures about their exposure on loans
granted to businessmen such as Maan Al Sanea and Algosaibi
Group,'.." [more]
Saudi Arabia Hopes to Go for Gold [Jun 27]
"..Al Amar, 200km southwest of Riyadh, is one of five gold mines
operated by Ma'aden, the Saudi mining company. Ma'aden produced 127,744
ounces of gold worth 420 million riyals ($112 million) last year, and is
responsible for the bulk of Saudi Arabia's production which last year
reached 5.7 tonnes. But, despite gold discoveries which added another
1.3 million ounces to reserves previously estimated at 8.2 million
ounces, production dropped 14 per cent last year, from a peak of eight
tonnes in 2003. 'The challenge we face is infrastructure and water in
particular,'.. ..By developing the kingdom's mineral reserves, the
government aims to create careers for young Saudis and reduce an
unemployment rate officially put at nine percent. Moreover, mining
provides jobs in remote areas where unemployment is often highest. The
kingdom also hopes to develop a competitive edge in gold and other
industries that benefit from cheap fuel and relative political
stability.." [more]
Kingdom, Yemen Consider Border Economic City [Jun 27]
"Yemen and Saudi Arabia are considering the establishment of an
economic city at the Al-Wade’a crossing on the border between them.
The announcement was made during the recent meeting of the Yemeni-Saudi
Businessmen Council. Earlier, Saudi Crown Prince Sultan Bin Abdul Aziz
gave an order to conduct a feasibility study for the project. The idea
first came to light in 2006 at a meeting of the Yemeni-Saudi
Coordination Council. The leaders of the two countries welcomed it, with
each ordering the relevant authorities in each country to start
practical steps including identifying the project site and providing
infrastructure and other requirements to bring the project into the
light.." [more]
Women’s Transport: Solutions Needed [Jun 27]
"In Saudi Arabia, the only country in the world where women are not
allowed to drive, transportation is definitely an issue. Women are
usually driven around by family members and personal drivers, or are
forced to use some other type of private transportation. While the
private transport is a booming business, the higher the demand the more
expensive the supply becomes. Providing alternative solutions is the
only exit. Some companies provide cars and drivers to ferry their women
employees for work purposes, but not all companies have the budget to do
that. Workingwomen, meanwhile, find it difficult getting to work and are
often charged thousands of riyals a month in transportation.." [more]
~~~~~~~~ [ Jun 26]~~~~~~~~~
Means of Enhancing Yemeni- Saudi Trade Cooperation
Discussed [Jun 26]
"Yemen and kingdom of Saudi Arabia have held talks over means of
boosting trade cooperation between the two neighboring countries. Upon
his arrival from Saudi Arabia, the Minister of Trade and Industry Yahya
al-Mutawakel told Saba that the talks with the Saudi officials of trade
ministry over commercial ties between the two countries. Al-Mutawakel
said that his visit to Saudi Arabia came in reply to an invitation of
his Saudi counterpart to follow up outcomes of Yemeni-Saudi trade
technical team's meeting which was held recently in Sana'a. He said that
the talks affirmed of setting up Yemeni-Saudi Businessmen council,
highlighting support of the kingdom for joining Yemen to the
corporations of Gulf Cooperation Council (GCC).." [more]
War on Drugs to Continue [Jun 26]
" Col. Abdullah Al-Qahtani, acting director of the Drug Combating
Department in Jeddah, said yesterday Saudi Arabia will continue its
campaign against drug smugglers and traffickers. 'Saudi Arabia is a
permanent partner of humanity in combating this poison,' Al-Qahtani said
in a statement on the occasion of World Anti-Drugs Day today. 'We’ll
use all means to prevent illicit trade of drugs.' Al-Qahtani said the
Kingdom shares the feelings of the international community on the need
to combat drugs. Saudi Arabia is one of the first signatories to the
1987 United Nations agreement to fight illicit drugs. 'Drugs not only
affect the individuals who abuse them but also the community in which
they live,' he said.. ..Saudi Arabia applies capital punishment on drug
traffickers on the basis of a ruling by the Council of Senior Islamic
Scholars in 1986. The scholars defined drug trafficking as a socially
corrupting offense for which capital punishment may be applied in
accordance with Shariah.." [more]
New Law Gives Greater Role to Businesswomen [Jun 26]
"The new law for the Council of Saudi Chambers of Commerce and
Industry (CSCCI) gives greater powers to businesswomen, Fahd Al-Sultan,
secretary-general of the council, said yesterday. 'The new law, which
replaces the existing 50-year-old law, will be passed within a few
days,' he said. Speaking to Arab News after attending a seminar on
'Developing a new concept and culture of chamber elections' at the JCCI,
Al-Sultan said the new law was designed to provide the council with
necessary flexibility. 'The law has already been studied by the
committee of experts at the Council of Ministers and has been passed to
the minister of commerce and industry for his endorsement before
presenting to the Cabinet for final approval,' he said. Al-Sultan said
the new law gives businesswomen a greater role in the council as well as
in the development of the country. 'Even if only women are elected to
the CSCCI board, there is nothing in the law to prevent it,' he pointed
out.." [more]
New Tender for $9bn Ras Azzour Water Project on the
Cards [Jun 26]
"Saudi authorities are expected to call for new tenders from
specialized companies to establish the proposed $9 billion Independent
Water and Power Production (IWPP) project in Ras Azzour, Saudi and
foreign investors have said. Saudi Arabia required new investments worth
more than $50 billion for desalination projects during the next 10
years, Asharq Al-Awsat Arabic daily said quoting informed market
sources. Tarik Al-Tamimi, chairman of Tamimi Group, described
investments in the Kingdom’s water sector as the most feasible as the
Kingdom depends mainly on desalinated water for the consumption of its
growing population and meet industrial requirements. Saudi Arabia is the
world’s largest producer of desalinated water. It consumes nearly 2.5
billion cubic meters of water annually and about half of which (1.1
billion cubic meters) comes from its desalination plants on the Red Sea
and Arabian Gulf.." [more]
OPEC Helps Savvy Oil Traders Sell Millions of Barrels
[Jun 26]
"Oil traders are relying on an unwitting ally, OPEC, to help them
quietly exit what experts say is one of their most lucrative gambits
ever -- storing vast oil supplies at sea to sell later for profit.
Trading firms like Koch KCHIN.UL and Vitol have sold millions of barrels
from supertankers into the United States over the past month to cash in
after crude prices doubled since winter, tanker brokers told Reuters.
The oil sold ashore has gone almost unnoticed, offset by output cuts by
the Organization of the Petroleum Exporting Countries that allowed
traders to unload tankers without causing a tsunami of U.S. oil imports
that would crash prices. U.S. imports, including sales from the tankers,
rose 3 percent to 9.3 million barrels a day last week, still below an
average 9.4 million bpd this year. OPEC and crude traders are often at
odds, with OPEC blaming speculators for wild oil price swings. But the
tidy sell-off of seaborne crude shows how their interests can also
align, and how each side anticipates the other's moves.." [more]
~~~~~~~~ [ Jun 25]~~~~~~~~~
SelTtrac Awarded Saudi Makkah Metro Project [Jun 25]
"Thales’s world-leading SelTrac Communications-Based Train
Control (CBTC) system solution has been awarded a contract worth Euros 103
million by China Railway Construction Corp. (CRCC), for the Makkah Metro
project. Thales will supply, integrate and deploy its proven driverless
train control and telecommunication systems for the Al Mashaaer Al
Muqaddassah Metro project, the first for the Makkah region, Saudi
Arabia, said the company. The metro line will operate with Automatic
Train Protection in time for the Hajj (pilgrimage) of November 2010. By
mid 2011, in preparation for Ramadan, the line will operate driverless
with an attendant on board. The metro will service three main areas each
with three substations. The new trains will have the capacity to move
72,000 passengers per hour per direction.." [more]
Iraq PM Slams Cleric's Death Calls [Jun 25]
"Iraqi Prime Minister Nuri al-Maliki on Thursday criticised Arab
and Muslim countries for their silence on calls by a senior Saudi cleric
for Shiite scholars to be killed. The Iraqi leader made the remarks a
day after a massive bomb in the predominantly Shiite neighbourhood of
Sadr City in northeastern Baghdad killed 62 people and wounded 150. 'We
have observed that many governments have been suspiciously silent on the
fatwa provoking the killing' of Shiites.. ..He was referring to comments
made by Mecca Mufti Sheikh Adil al-Kalbani last month to the BBC that
'Shiite clerics are infidels.' 'The Shiites have no right to be
represented in the (Saudi) senior scholarly committee,' Kalbani said.
'The Shiite public, it's a matter of discussion (as to whether they are
infidels). Shiite clerics are definitely infidels, without question.'
According to Islam, it is permitted to kill infidels.." [more]
World's Tallest Skyscraper to be Built in Saudi
Arabia [Jun 25]
"Saudi business mogul Prince al-Waleed bin Talal's Kingdom Holding
company announced last week that it had signed an agreement for the
construction of the world's highest skyscraper. According to the
company's statement, the skyscraper will be 1,000 meters (3,280 feet)
high and will be built in the city of Jeddah off the Red Sea. Dubai's
Emaar Properties real estate company will be in charge of developing the
project. The project, named Kingdom Tower, will spread over 23 million
square meters and will include commerce, housing and office areas. It
will be built not far from Jeddah's international airport. The total
cost of the project is estimated at some $27 billion, and the tallest
tower in the world will be built in its center. The tallest tower in the
world today is Burj Dubai, which is 800 meters (2,625 feet) hight and is
still being built by Emaar.." [more]
All Visa Seekers to be Photographed and Fingerprinted
[Jun 25]
"Saudi Arabia will introduce fingerprinting and full-face digital
photographs for visa applicants next year as part of its efforts to
strengthen its security, prevent identity theft and combat terrorism.
The Ministry of Foreign Affairs announced yesterday that it was calling
for tenders from specialized international firms to set up a network of
centers to provide biometric services to people applying for visas to
the Kingdom. 'This important initiative has been taken to strengthen the
Kingdom’s security and improve services to visa applicants,' said
Prince Khaled bin Saud, undersecretary at the ministry. He said
authorized biometric service centers would receive visa applications on
behalf of Saudi embassies and missions, adding that they would provide
quick, quality service at reasonable charges.." [more]
26 Saudis Selected for UK Program [Jun 25]
"Twenty-six Saudi academics, including 10 women, will leave for the
United Kingdom under the annual Post-Doctoral Summer Research (PDSR)
Program of the British Council. 'They will travel shortly to the United
Kingdom to take part in the British Council’s 2009 PDSR program. The
Saudi academics will work alongside their UK counterparts in selected
areas of specialization,' said Jim Scarth, the council’s director..
..The British Council started the PDSR in 1989, with King Fahd
University for Petroleum and Minerals, to develop a research
collaboration program aimed at facilitating the Saudi specialists to
work alongside their UK counterparts. Since 1991 the British Council has
been awarding around 20 Saudi academics annually the opportunity to take
part in its PDSR program.." [more]
Aramco Shifts Focus to Gas as Oil Expansion Ends [Jun
25]
"Saudi state oil giant Aramco is shifting its exploration and
production focus to gas to meet rapidly rising domestic demand as its
program to expand oil capacity comes to a close. Falling global oil
consumption has left the Kingdom sitting on its biggest supply cushion
in years and allowed it to shift attention from oil to booming gas
demand at home. 'There will be more gas developments,' a senior source
at Aramco told Reuters. 'We are expanding gas activity and we are
slowing down oil.' Saudi gas demand has risen with an
economic boom financed by record crude export revenues as the oil price
rallied from 2002 to 2008. Economic momentum continues, despite lower
oil prices, as the Kingdom presses ahead with projects to diversify away
from dependence on crude sales revenue. 'Gas is a high priority as it is
used to fire power plants, to desalinate water and as a feedstock for
petrochemicals,'.." [more]
~~~~~~~~ [ Jun 24]~~~~~~~~~
No Interference in Lebanon: KSA [Jun 24]
"Saudi Ambassador to Lebanon Ali Asiri has refuted a report in the
US magazine Newsweek concerning the Kingdom’s funding of the elections
in Lebanon. 'The Saudi leadership’s attention is always focused on the
unity and stability of Lebanon and all Lebanese people across the board,
and we deny these allegations,' Asiri said. He said that as a new
ambassador he must maintain communications with all political
powers.." [more]
Documents Show Saudi-Extremists Links [Jun 24]
"Lawyers for families of Sept. 11, 2001, victims say they have
documents linking members of Saudi Arabia's royal family to al-Qaida and
other extremists. That evidence, however, may not see the legal light of
day because of legal and diplomatic roadblocks in the long-running
effort by the families to sue the Saudi government and its leaders in
the attacks on New York and Washington, The New York Times reported
Wednesday.. ..Saudi lawyers countered that the ties are weak, saying
Saudi Arabia is being sued because of its vast wealth and because it was
home to 15 of the 19 hijackers. 'In looking at all the evidence the
families brought together, I have not seen one iota of evidence that
Saudi Arabia had anything to do with the Sept. 11 (2001) attacks,'
Michael Kellogg, a Washington lawyer representing Prince Muhammad
al-Faisal al-Saud in the lawsuit, told the Times.." [more]
Saudi Blasts Burka Comments [Jun 24]
"Journalists in ultra-conservative Saudi Arabia blasted France on
Wednesday over President Nicolas Sarkozy's criticism of the burka, the
head-to-toe garment favored for women by conservative Muslims. 'What
about personal freedom? What about respect for people's traditions and
privacy?' Mr Dawood al-Shiryan asked in Al-Hayat.. ..On Monday Mr
Sarkozy called the burka a sign of women's 'subservience' that was 'not
welcome' in staunchly secular France. 'We cannot accept to have in our
country women who are prisoners behind netting, cut off from all social
life, deprived of identity.' An editorial in Arab News said the French
approach to the burka was founded in the country's secular society,
while the Dutch and Danish attempts to restrict it were rooted in
anti-Muslim, anti-immigrant racism. It said 'France must tread
carefully.'.." [more]
Japan Refiner Eyes Solar-Power Business in Saudi [Jun
24]
"A Japanese oil refiner said that it was considering operating
solar-power plants in Saudi Arabia, the world's top oil exporter, in
cooperation with state-owned energy giant Saudi Aramco. Showa Shell
Sekiyu said it had agreed with Saudi Aramco, the world's biggest
state-owned oil company, to 'explore the possibility of engaging in a
small-scale electricity generation business using solar power'. After
initial studies, small pilot plants will be built by 2010 to test
technologies, the Tokyo-based company said. The firms will set up a
joint venture to expand the business, possibly beyond the Middle East,
if the plants prove commercially viable, it said. Saudi Arabia has the
world's largest proved reserves of crude oil but has also been looking
to invest in solar power. Japan, which has virtually no natural energy
resources of its own, aims to take the lead in environmentally friendly
energy.." [more]
King to Patronize Forum For Trainers of Culture of
Dialogue [Jun 24]
"King Abdullah, Custodian of the Two Holy Mosques, is scheduled to
patronize on Saturday a three-day forum for authorized trainers to
spread the culture of dialogue. The forum is being organized by the King
Abdul Aziz Center for National Dialogue at King Faisal Conference Hall
in Riyadh.. ..the forum comes within the continuing efforts for training
a large number of male and female trainees who would lead the initiative
to acquaint people with dialogue and the values of moderation and
tolerance in all parts of the Kingdom. He said these efforts would
continue until the culture of dialogue is instilled in the Saudi
society. He said over 150,000 male and female citizens have benefited
from the training projects and dialogue programs.." [more]
BNP, Citi Exposed to $6.3 Billion Saudi Debt Workout
[Jun 24]
" BNP Paribas SA and Citigroup Inc. provided about $500 million
each in syndicated loans to companies owned by Saudi billionaire Maan
al-Sanea and the Algosaibi family, making them the most at risk to the
country’s largest debt restructuring. The banks top a list of 37
creditors that provided $5.6 billion to units of Saad Group, the
construction and finance company whose owner al-Sanea has had accounts
frozen, according to a document provided by one lender that shows the
breakdown for the first time. The creditors lent another $700 million to
Ahmad Hamad Algosaibi & Brothers Co. Banks that provided at least
$64 billion to Saudi borrowers in the past five years as record oil
prices spurred economic growth for the world’s biggest crude exporter
now risk losses because the country’s first recession in a decade is
threatening the wealth of some of the most powerful families.." [more]
$3.7bn Deals Done at Cityscape Saudi Arabia [Jun 24]
"More than SAR14 billion ($3.7bn) worth of deals were done at
Cityscape Saudi Arabia, organisers revealed on Wednesday. And Shuaa
Capital Saudi Arabia officials announced that it was in the process of
organising finance for hospitality projects worth a further SR2bn, as a
direct result of the real estate show. One hundred companies took part
in the exhibition earlier this month which attracted in excess of 8,500
visitors.. ..'Irrespective of the total size of the onsite orders, what
it clearly demonstrates is that the Saudi real estate market is very
much alive and well,'.." [more]
Oz Visa for Saudis in Two Days [Jun 24]
"The Australian government has announced it has reduced the
processing time for Australian visas with an aim to ensure that a Saudi
applicant gets his or her visit visa within two days. Previously, an
Australian visa application submitted by a Saudi national or a resident
could take weeks to process. 'This is a good development that the
Australian visa turn-around time has been reduced,' said Roy Clogstoun,
deputy chief of mission at the Australian Embassy. 'The announcement to
reduce the processing time is a welcome move,' said Arif Rahman, who
works for a travel and tourism organization. This will also boost
business traffic and passenger loads on flights to Australian
destinations, he added. There are increasing people-to-people contacts
between Australia and Saudi Arabia.." [more]
~~~~~~~~ [ Jun 23]~~~~~~~~~
Saudi Aramco Awards Japan's JGC Petchem Deal [Jun 23]
"The Saudi Arabian Oil Company and Sumitomo Chemical Co. Ltd. said
Tuesday they had selected Japan's JGC Corporation to conduct a
feasibility study for the expansion of the giant Petro Rabigh refining
and petrochemical complex in the oil-rich kingdom. The study would be
completed by the third quarter of 2010 and, if proven viable, a decision
would be made on the implementation of the expansion of the Rabigh
project, Saudi Aramco said in a statement. Aramco, Saudi Arabia's
state-owned oil giant, and Sumitomo, one of Japan's biggest chemical
companies, signed a memorandum of understanding in April to conduct the
feasibility study for the second phase. The two companies had joined
forces in 2005 to upgrade an exiting 400,000 barrel per day refinery
with the addition of a petrochemical complex. The export-oriented
project is another part of OPEC powerhouse Saudi Arabia's push to build
new production and refining capacity, as well as greater integration of
its existing ventures.." [more]
Morgan Stanley Launches Equity Trading in Saudi
Arabia [Jun 23]
"Morgan Stanley Saudi Arabia (MSSA) has launched equity trading in
Saudi Arabia on the KSA stock exchange, Tadawul. The move will
allow the bank and its customers to engage in cash equities trading and
will allow Saudi, as well as GCC, investors to benefit from Morgan
Stanley’s global expertise. The launch of equity trading in Saudi
Arabia comes after the bank embarked upon economic and equity strategy
research coverage in the country. MSSA chairman Dr. Fahad Almubarak has
stated that Saudi Arabia is a key market for Morgan Stanley, and that
with the recent launch of equity strategy research and equity trading
the bank is in a critical stage of developing its presence in the
country.." [more]
Germany, Saudi Arabia Muscle Into Top 500
Supercomputer List [Jun 23]
"Computers in Germany and Saudi Arabia are now among the fastest in
the world, but the bi-annual Top500 list of the world's most powerful
supercomputers is still topped by the Roadrunner system at the U.S.
Department of Energy's Los Alamos National Laboratory.. ..A third
notable newcomer to the Top500 list is the Shaheen, which can handle
185.17 teraflops and is installed at the King Abdullah University of
Science and Technology in Saudi Arabia. It is also an IBM system.."
[more]
Saudi Stocks Decline to 7-Week Low [Jun 23]
"Saudi Arabia’s index slumped to its lowest finish for seven
weeks as most Gulf Arab markets fell on weakening oil prices and worries
over banks’ exposure to two troubled Saudi conglomerates. The market
saw a downward pressure with very weak liquidity yesterday. Only 6
sectors made gains, with the Media and Publishing sector leading with
1.40 percent gain. On the losses front, 9 sectors posted losses ranging
from 0.11 percent for Multi-Investment to 1.55 percent for Agriculture
& Food Industries. Market breadth was negative, with 45 advancers
and 74 decliners registering an AD ratio of 0.60, the Jeddah-based
Financial Transaction House (FTH) said. The Tadawul All-Share Index (TASI)
closed 0.58 percent down at 5,708.67 yesterday.." [more]
GCC Signs Free Trade Accord With EFTA [Jun 23]
"The six-nation Gulf Cooperation Council (GCC) and four European
states, which are members of the European Free Trade Association (EFTA),
signed a free trade agreement (FTA) in Norway yesterday. On behalf of
the GCC, Abdul Rahman Al-Attiyah, GCC secretary general, signed the FTA,
while the ministers of trade and economy from Switzerland, Norway,
Iceland and Liechtenstein signed the accord on behalf of EFTA. The EFTA
is composed of the four European countries that have not join the EU. It
is an intergovernmental organization set up for the promotion of free
trade and economic integration for the benefit of its member
states.." [more]
Kingdom’s Private Pharmaceutical Sector Valued at
SR11b [Jun 23]
"Amid a growing demand for healthcare services in Saudi Arabia,
Banaja Holdings, formerly Saudi Import Company, unveiled on Sunday its
new corporate identity and group management restructuring. The new name
and management structure for Saudi Import Company will fuel greater
efficiencies and further growth.. ..With steady 15 percent year on year
growth over the last five years, the organization’s restructuring will
further develop and mature pharmaceutical market. The Kingdom’s
pharmaceutical sector is valued at SR11 billion ($2.9 billion), of which
11 percent is held by Banaja Holdings.." [more]
What the Arab World Is--and Isn't--Saying About the
Protests in Iran [Jun 23]
"As Western media outlets obsessively cover the protests in Iran,
the Arab press has been approaching the events with mixed emotions.
Since much of the media in the Middle East is state-controlled, press
coverage provides an interesting window into the complex relationship
between Iran and the Arab world. Egypt and Saudi Arabia have been
leading Arab opposition to Iran's nuclear program. These countries,
worried about Iran's quest for regional domination, would be expected to
highlight the recent tumult in their state organs. But the media in both
countries have been eerily quiet on the issue.. ..The lackluster
coverage belies the fact that Egypt and Saudi Arabia, as much as they
fear Iran's regional designs, are probably just as afraid of their
uncomfortable internal similarities.." [more]
King Abdullah's Pledge [Jun 23]
"The word "pledge" is most often used for political and
propaganda purposes as a means of publicizing something or promoting
strategic goals for political regimes that lack credibility with the
public. However this is not a correct definition of the word, and it is
possible for the word "pledge" to be used accurately [such as
in the case of King Abdullah].. ..In only a short period of time, King
Abdullah has managed to make many political, economic, intellectual, and
social achievements in areas that had previously been stagnating. The
King has opened files that were previously impossible to discuss, or
even think about.." [more]
~~~~~~~~ [ Jun 22]~~~~~~~~~
Iran overtakes Saudi as China's No.1 Crude Supplier
[Jun 22]
" Iran overtook Saudi Arabia in May as China's top crude supplier,
Chinese customs data showed on Monday, but traders said it was partly
due to a supply cut from the Saudis. Beijing-based trading officials
cautioned against reading too much into one month's figures, which they
said may have been skewed due to technical problems such as port
congestion that pushed back or forth imported cargoes for customs
clearance. Iran, the world's fifth-largest crude exporter, shipped into
China 3.088 million tonnes of crude, or 727,000 barrels per day last
month, a rise of 88 percent from a year ago. Exports from the world's
top exporter, Saudi Arabia, however, slipped 15.5 percent on year to
2.76 million tonnes, or 650,000 bpd, official data from the General
Administration of Customs showed. 'Saudis can't supply the amount of
heavy grades Chinese refineries asked for, as most of the OPEC-agreed
cuts are on these heavy grades,' said one trader close to state-run
Saudi Aramco.." [more]
Saudi King Receives Russian Presidential Envoy [Jun
22]
"Saudi King Abdullah received a Russian presidential adviser and an
official from the country's arms export company in Riyadh Sunday, the
Interfax agency reported, citing the Kremlin press service. Sergei
Prikhodko transmitted a personal message from President Dmitry Medvedev,
said the Kremlin. With him was Alexander Saltanov, Medvedev's special
envoy to the Middle East; and Anatoly Isaykin, head of Rosoboronexport,
Russia's arms export service. After a period of tension between the two
countries, relations improved in July 2008 with the signing of a
military cooperation treaty. According to the Russian daily Kommersant,
Saudi Arabia is mainly interested in buying Russian tanks and
helicopters.." [more]
40% Surge in Saudi Applications to UK Universities
[Jun 22]
"A 40 percent surge in the number of Saudi applications to British
universities and new rules for UK study permits is delaying the visa
application process for Saudi students, prompting fears that some may
not be able to begin their studies on time. The British embassy in
Riyadh has hired extra staff to deal with the number of visa
applications from Saudi students, which has risen by 40 percent from the
same period last year, the Al Arabiya Arabic website reported.. .. As of
March this year, visas will only be granted to students who “show a
proven track record in education” and are applying for a course that
meets a minimum level of qualification. They must also be able to
demonstrate they can support themselves financially.." [more]
KSU, Missouri University Signs Partnership Accord
[Jun 22]
"King Saud University (KSU) has recently signed an educational
partnership agreement with US Missouri University for Science and
Technology. The agreement was signed by Deputy Rector of King Saud
University Dr. Abdulaziz Al-Ruwais and Deputy Rector of Missouri
University Dr. Benjamin Do. King Saud University’s Deputy Rector for
Knowledge Exchange and Technology Transfer Dr. Ali Bin Saeed Al-Ghamdi
said that this agreement will open the door to opportunities for
exchange of knowledge and technology transfer between the two
universities, pointing to the start with Missouri University of a
specialization of M.Sc. Joint Program of Engineering Management which is
the first of its kind in the Middle East.." [more]
Saudi Electricity Gets $1.09B Loan for GE Turbines
[Jun 22]
"The Saudi Electricity Company said Monday it had secured a 4.1
billion riyal ($1.09 billion) loan from the U.S. Export-Import Bank and
Canada's Export Development Credit to finance the purchase of power
generation units. The 12-year loan is to fund the purchase of 23
turbines made by U.S. giant General Electric ( GE - news - people ), the
official Saudi Press Agency reported. The units will help boost power
generation capacity in Riyadh, the Saudi capital, as well as in some
areas in the eastern part of the country by about 2,900 megawatts, the
company said in a statement posted on the Saudi exchange's Web site.
Saudi Arabia has been working to boost power generation capacity to meet
increased demands linked to a series of new mega-projects in the
kingdom, as well as a growing population.." [more]
~~~~~~~~ [ Jun 21]~~~~~~~~~
Hotel Sector Gets Major Boost as Religious Tourism in
Saudi Grows [Jun 21]
"The Elaf Group of Companies, a business organisation serving the
Saudi Arabian travel, tourism and hotel industries, has announced that
it has recently launched a major expansion initiative in the Saudi hotel
sector, driven by a significant surge in religious tourism, which
according to recent reports has achieved a remarkable 30 per cent growth
in the first quarter of 2009. Elaf has particularly prepared for the new
Umrah season that started in February 2009, noting a considerable growth
trend as around 3.5 million pilgrims are expected to visit the Kingdom
in the current Umrah season. Religious tourism in Saudi generates around
USD 7 billion annually according to recent reports.." [more]
Saudi-Palestinian Summit Today [Jun 21]
" King Abdullah, Custodian of the Two Holy Mosques, and Palestinian
President Mahmoud Abbas are scheduled to hold a summit in Jeddah on
Sunday to discuss Arab moves in the light of the recent speech made by
the Israeli premier Benjamin Netanyahu, as well as the faltering peace
process and the latest developments concerning Palestinian land and
Palestinian dialogue. Palestinian sources say that President Abbas will
hear the King’s vision for a lasting, just and comprehensive solution
to the Palestinian issue and the establishment of an independent
Palestinian state with Jerusalem as its capital. The two leaders will
also discuss ways of pushing forward the Arab peace initiative.." [more]
Saudi Oil Production at 12-Month Low [Jun 21]
"Saudi Arabia’s oil production fell by 320,000 barrels in April
to its lowest level this year, according to the latest official figures
from the kingdom. A recent update to the international database
maintained by the Joint Oil Data Initiative (JODI), which uses figures
submitted by its member countries, showed Saudi crude output at 8.038
million barrels per day (bpd) in April, down from 8.358 million bpd in
March. The JODI data series shows that the world’s biggest oil
exporter has sharply reduced crude production, by 1.5 million bpd or
nearly 16 per cent since last August, as it has led OPEC in a series of
cuts aimed at stabilising prices.." [more]
Saudi Hospitals on Full Alert Over Swine Flu [Jun 21]
"Emergency departments at government hospitals in Saudi Arabia are
on full alert to deal with swine flu cases as the number of people
diagnosed with the virus rises to 34.. ..Meanwhile, the Kingdom and the
World Health Organisation (WHO) are working together to finalise a plan
to deal with a possible swine flu outbreak among Makkah pilgrims. Fears
are heightened, reported Gulf News, because nearly 16,000 Muslims from
the United States, where the virus has been most severe affecting 17,000
people and killing 44, perform the Hajj each year. The Saudi health
authorities are reported to be stockpiling medicines to deal with any
outbreak.." [more]
Conjoined Moroccan Twins Successfully Separated in
Riyadh [Jun 21]
"Conjoined twins from Morocco were successfully separated on
Saturday at King Abdul Aziz Medical City of Riyadh. The operation,
headed by the Minister of Health Dr Abdullah Al Rabee’ah, took more
than 11 hours to complete and makes it the 22nd successful separation by
Saudi medical teams in 19 years. 'The seven-phase surgical process did
not encounter any major difficulties and all the organs of the separated
girls were functioning well,'.. ..The King Abdul Aziz Medical City of
Riyadh has successfully separated conjoined twins of various
nationalities brought to the Kingdom from all over the world. The
average cost for each surgical separation is estimated at Saudi Riyal 3
million.." [more]
Jeddah to Host Saudi Arabia’s First International
Boat Show [Jun 21]
"Jeddah is hosting the first ever Saudi International Boat Show to
be held from Oct. 14-17, 2009 at the Al Furusya Marine and Yacht Club
located in the grounds of the new Park Hyatt. The impressive Al Furusya
Marine & Yacht Club is located in the Al Hamra district in the heart
of Jeddah, minutes away from Jeddah Port and commanding spectacular
views across the Red Sea and King Fahd’s fountain. Organized by Dubai
World Trade Centre and endorsed by the Saudi Commission for Tourism and
Antiquities, the inaugural event will showcase the world’s leading
names participating in the Kingdom’s largest display of boats, the
latest marine and diving equipment, tourism, supplies and
services.." [more]
VP in Arrives in Saudi Arabia [Jun 21]
"Vice President Abdu Rabo Mansour Hadi arrived on Sunday in King
Abdul Aziz Airport in Jeddah city of Kingdom of Saudi Arabia. Saudi
Arabia is the second leg, after Oman, of Gulf tour including Gulf
Cooperation Council's states, during which Hadi conveys letters from
President Ali Abdullah Saleh to the leaders of GCC states. The letters
deal with bilateral relations between Yemen and GCC's states in addition
to the current developments at the territorial, Arab and international
levels.." [more]
Saudi Arabia's Debt Declines to 13.5% in 2008 [Jun
21]
"A sharp rise in oil revenue boosted Saudi Arabia's budget surplus
to a record high level in 2008 and depressed its public debt to only
13.5 per cent at the end of the year, the Gulf Kingdom's Economy and
Planning Minister said yesterday. The increase in the country's oil
exports to their highest ever level also sharply expanded the nominal
gross domestic product and catapulted the country into the list of the
world's largest 19 economies, said Khaled Al Qusaibi. 'On this occasion,
we should mention the great achievements made by the Kingdom in the
economy and other fields,' he said in local press comments to mark the
anniversary of the accession to throne by the Custodian of the two Holy
Mosques King Abdullah bin Abdulaziz of Saudi Arabia.." [more]
|
