Mideast Talks, Security to Dominate GCC Summit [May 11]
“The 12th GCC consultative summit in Riyadh Wednesday, led by King Abdullah, Custodian of the Two Holy Mosques, will look at political, economic and security issues, with Palestinian-Israeli talks, Iraq’s elections and Iran’s nuclear plans prominent among them. King Abdullah received the Secretary General of the GCC, Abdul Rahman Al-Attiyah, Sunday ahead of the gathering, which although it has no set agenda will seek to achieve greater cohesion and cooperation between GCC states in a variety of areas. Gulf official said that particular focus would be given to the Mideast peace process following the renewal of indirect negotiations between the Palestinians and Israelis and the efforts of the US administration to push the process forward..” [Complete Report]
Naif OKs Anti-Terror Strategy [May 11]
“Second Deputy Premier and Interior Minister Prince Naif approved on Monday a plan prepared by the Ministry of Islamic Affairs, Endowment, Call and Guidance to combat terror. ‘Imams and preachers in mosques have a significant role in creating awareness among citizens and expatriates against ideological and religious extremism,’ Prince Naif said while approving the plan.. ..’The programs aim at elevating the level of interaction of imams and preachers in combating terror and achieving ideological security apart from boosting patriotism,’ the source said. The first program involves organizing monthly seminars for imams and preachers to promote moderation and equip them to counter ideological deviations particularly extremist and takfir (branding opponents as infidels) tendencies and strengthening the ties between the ministry and preachers..” [Complete Report]
SAA Suspends All US Flights [May 11]
“Saudi Arabian Airlines (SAA) announced Monday the suspension of all its flights to and from the United States due to the impact of clouds of volcanic ash on the Middle East and US route. Assistant Director General of SAA for Public Relation Abdullah Al-Ajhar said the Saudi national carrier took the decision for the safety of passengers. SAA operates seven flights every week to the US: three from Jeddah to New York, one from Riyadh to New York, one from Jeddah to Washington and two from Riyadh to Washington. Sunday’s flight from Washington to Jeddah was canceled as was the Jeddah-New York flight scheduled for Monday.. ..Al-Ajhar had no idea when the flights to the US will resume..” [Complete report]
King Orders Prosecution in Jeddah Flood Disaster [May 11]
“Custodian of the Two Holy Mosques King Abdullah has ordered the cases of all those accused of complicity in the November floods in Jeddah referred to the watchdog for government employees and the national prosecution body. A royal decree issued by the king also ordered a hazardous sewage lake in Jeddah, locally known as the Musk Lake, emptied within a year. ‘All the accused in this case are to be referred to the Control and Investigation Board and the Prosecution and Investigation Commission according to the nature of the crime they have been accused of. This should happen after the urgent completion of procedures during criminal investigations,’ King Abdullah said. The floods killed at least 123 people and destroyed thousands of homes and vehicles.. ..The investigating committee examined all projects implemented in Jeddah since 1950 for financial and administrative irregularities and corruption..” [Complete Report]
OPEC Increases 2010 Oil Demand Forecast on Outlook for China [May 11]
“The Organization of Petroleum Exporting Countries raised estimates for global oil demand in 2010 on optimistic outlook for economic growth in China. OPEC, responsible for about 40 percent of the world’s oil, boosted its forecast for worldwide crude consumption this year by 180,000 barrels a day, or 0.2 percent, to 85.38 million barrels per day. It also raised projections for supplies from outside the organization. ‘The recovery in the world economy appears to be continuing at a steady pace,’ the Vienna-based secretariat said in a monthly report today. ‘China has been among the main drivers behind oil demand growth so far this year, which should continue for the rest of the year.’ OPEC, which announced a record series of supply cuts in late 2008 as demand crumpled, is unlikely to alter output quotas this year..” [Complete Report]
Non-Muslims Make Small Steps into Medina [May 11]
“Saudi Arabia plans to build a new neighborhood on the outskirts of Medina where non-Muslims may be permitted to take up residency. The ‘Knowledge Economic City’, set to be located three miles from Medina’s central mosque, will be Saudi Arabia’s first so called smart city, as all the buildings in the area will be connected via data, video and voice links.. ..Both the cities of Mecca and Medina are considered Haram, or forbidden, for non-Muslims in Saudi Arabia. Currently, only the Medina train station is open to non-Muslims. Paffier indicated, however, that there would be flexibility on the issue regarding the new neighborhood. ‘We are negotiations withy the government to move the Haram boundary so that more of the city will be outside it,’ he said. While Medina is well known as the burial site of the Prophet Mohammed, the founder of Islam, over the last decade it has evolved into a knowledge-based university town. The Medina Knowledge Economic City is one of six being planned across the kingdom..” [Complete Report]
Arab Areas Key to Global Oil Supplies: Saudi Minister [May 11]
“The Arab region enjoys great international importance because of its huge oil and gas reserves and will continue to occupy a special place in the global oil industry for many more decades, Saudi Arabia’s Minister of Petroleum and Mineral Resources Ali bin Ibrahim al-Naimi has said. Addressing the Arab Energy Conference in Doha on Monday, he said: ‘In 2008, the Arab region accounted for about 58 per cent of the total global oil reserves and 30 per cent of natural gas reserves.’ ‘Fossil fuel is one of the most important sources of energy and will continue to play a key role as a main source of energy for many decades to come. Out of consideration for the environment, we must all focus on making oil available and environmentally friendly through advanced technologies.’..” [Complete Report]
US Urged to Probe Saudi Business Spat [May 11]
“A senior Republican congressman has urged the Department of Justice to examine whether the US banking system was used for money laundering or fraud in connection with a multibillion dollar dispute between two Saudi companies. Peter King, the senior Republican member of the House of Representatives homeland security committee, said he was concerned about ‘potential lapses in oversight over the national banking system that may allow US financial institutions to perpetuate massive global money laundering originating from persons in the Middle East’. Mr King expressed his concerns in a letter to Eric Holder, the US attorney general. He was referring to allegations made in a bitter dispute between two family-owned Saudi businesses, Ahmad Hamad Algosaibi and Brothers (AHAB) and Saad Group, owned by the billionaire Maan al-Sanea..” [Complete Report]
Sasakura, Samsung $1.89 Bln Bid Lowest for Saudi Plant [May 11]
“Japan’s Sasakura Engineering Co, with South Korea’s Samsung Engineering, have made the lowest bid of $1.892 billion to build a new desalination plant in Saudi Arabia, industry sources said. The plant will produce 1.025 million cubic metres of desalinated water per day and will be integrated with a 2,400 megawatts (MW) power plant, in Ras Azzour, on the Gulf coast. The project is expected to be the world’s largest when completed in the last quarter of 2013. Saudi-based Arabian Bemco Contracting Co and Italy’s Fisia Italimpianti, owned by Italian builder Impregilo, were second lowest for the water package with a proposal of $1.93 billion, sources said. South Korea’s Doosan Heavy Industries came third with two bids of $1.937 billion and $2.348 billion using different technologies, one source familiar with the matter said. France’s Sidem came fourth with a price of $2.45 billion, the source added. The date for bids for the desalination package closed on May 8..” [Complete Report]
Saudi-Chinese JV petchem Plant Starts Production [May 11]
“Saudi Basic Industries Corporation, one of the world’s largest chemical makers, says commercial production has begun it the joint-venture petrochemical complex it operates with China’s SINOPEC. SABIC said in a statement Tuesday that preproduction operations at the plant in Tianjin, China, began in January. The complex, which has a capacity of 3 million tons per year, was set up as a 50-50 venture with SINOPEC in November 2009. In January, SABIC said it had secured almost $2.7 billion in financing agreements from Chinese banks and institutions for the project. The project is one of several between China and the oil-rich Gulf Arab nations. The Asian giant has been increasingly turning to the region for oil to fuel its growth..” [Complete Report]
