SUSRIS » Special Report 2010

King Abdullah Completes NYC Hospital Stay

Editor — Wed, 22 Dec 2010 13:02:42 +0000

SUSRIS SPECIAL REPORT

King Abdullah completed a one-month hospitalization in New York following two successful back surgeries. (Photo: SPA)

King Abdullah completed a one-month hospital stay in New York City Tuesday following two operations to repair back problems according to the Saudi Press Agency citing the Royal Court. The 86-year old Saudi monarch was sidelined from his duties in early November when his doctors recommended he rest as treatment for a herniated disc. On November 22 he was transferred to New York Presbyterian hospital for surgical treatment of “lumbar spine disc prolapse complicated by a haematoma pressing on lower nerve roots causing pain,” according to a Saudi Health Ministry official. A second surgery on December 4 was undertaken to repair several vertebrae. The Royal Court statement said King Abdullah was transferred to his New York residence to recuperate. There was no indication how long the New York recovery period would last before the King returned to Saudi Arabia.

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Counter Terrorism Crackdown Yields More Results

Editor — Sat, 27 Nov 2010 04:48:36 +0000

Patrick W. Ryan | SUSRIS

Security forces in Saudi Arabia averted ten attacks on government and military installations and officials and media personalities being planned by Al-Qaeda terrorist cells in the Kingdom and detained 149 suspects in the past eight months according to an Interior Ministry spokesman. At a press conference today General Mansour al-Turki, in providing an update on progress fighting Al Qaeda, told of the arrest of 124 Saudis and 25 others from Arab, African and South Asian nations.

One of the 19 cells rolled up by security forces was charged with raising money for the group, according to al-Turki. About SR2.24 million, equal to about $600,000 was seized and Saudi TV showed film clips of some seized cash, weapons and computers. Al-Turki said, “No doubt al-Qaeda seeks to raise funds from within Saudi Arabia,” adding “Al-Qaeda wants to exploit the enthusiasm of Saudis to do charity work and philanthropy.” He accused Al-Qaeda of trying to raise money and spread their ideology during the Hajj and Umrah pilgrimages in the Kingdom.

Saudi Arabia has been the target of terrorist attacks for decades, especially since 2003 when an Al-Qaeda campaign was launched against Saudi and Western targets to destabilize the Kingdom. The Saudi government has been very effective in countering Al-Qaeda through aggressive policing and rehabilitation. Its intelligence penetration of Al-Qaeda was recently lauded by the White House as key to thwarting a plot to destroy aircraft with parcel bombs. The bombs were built and shipped from Yemen by Al-Qaeda in the Arabian Peninsula and were intercepted in the UK and UAE based on information provided by Riyadh. Officials believe the bombs were set to detonate aboard aircraft when airborne enroute to destinations in the United States.

Over 100 Al-Qaeda suspects were arrested earlier this year according to General Mansour who spoke with reporters in March. Suspects in those arrests were preparing for attacks on police officers and 12 were planning suicide attacks against oil installations in the Kingdom. In August 2009 a suicide bomber, a member of Yemen-based Al Qaeda in the Peninsula (AQAP), made an unsuccessful attempt to kill Prince Muhammad bin Naif, Assistant Interior Minister for Security Affairs. The Yemen base of operations for AQAP gained notoriety following the attempted bombing of a Northwest Airlines jetliner bound for Detroit from Amsterdam last December 25th, by Abdul Farouk Umar Abdulmutallab. The suicide bomber, a 23 year old Nigernian equipped with an underwear bomb, was dispatched by AQAP from Yemen. The attacker failed but it highlighted the ongoing threat to American interests posed by Al Qaeda elements and gave renewed focus for American and Saudi counter terrorism specialists on Yemen.

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King Abdullah Undergoes Back Surgery

Editor — Wed, 24 Nov 2010 20:08:50 +0000

SPECIAL REPORT

King Abdullah bin Abdulaziz Al Saud successfully underwent back surgery today at the New York Presbyterian Hospital according to the SPA, citing Saudi Arabia’s Royal Court. The King, said to be 86 years old, was suffering from a “lumbar spine disc prolapse complicated by a haematoma pressing on lower nerve roots causing pain” according to a Saudi Health Ministry spokesman. The painful but not life-threatening condition led to his transfer from the Kingdom to New York City on Monday.

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King Abdullah to U.S. Monday for Medical Care

Editor — Sun, 21 Nov 2010 15:46:59 +0000

SUSRIS SPECIAL REPORT

Saudi Arabian King Abdullah bin Abdulaziz will travel to the United States on Monday for medical evaluation and treatment of a back condition according to a statement by the Royal Court November 21, SPA said. The King was sidelined by back pain last week and his condition became complicated by Friday when the Royal Court reported “tests revealed that a blood accumulation accompanied the herniated disc, pressuring its adjacent nerves.” The 86-year-old Saudi monarch underwent tests Friday at the King Faisal Specialist Hospital in Riyadh.

Earlier in the week King Abdullah transferred his duties as Commander of the Saudi Arabian National Guard to his son, Prince Miteb bin Abdullah a move that was a long time coming according to analysts. The Guard, a standing force of about 125,000 that performs domestic and external security functions separate from the army, has been led by King Abdullah since 1962.

Meanwhile, Crown Prince Sultan is expected to return to Riyadh Sunday evening from Morocco where he was on “special leave” according to the Royal Court. The Crown Prince went to Morocco in August according to a Reuters report which mentioned he had been abroad in Morocco and the United States for much of last year for medical treatment.

In March of last year King Abdullah named Interior Minister, Prince Nayef as Second Deputy Prime Minister during the period when the Crown Prince was receiving medical care abroad and the King was preparing to leave the Kingdom for an Arab League Summit in Doha.

Any mention of medical treatment for the Kingdom’s elderly leaders fuels speculation about Royal succession and Saudi Arabia’s future leadership. In December 2006, SUSRIS spoke exclusively with Thomas Lippman, an adjunct senior fellow at the Council on Foreign Relations and author of “Inside the Mirage: America’s Fragile Partnership with Saudi Arabia,” about the then newly devised mechanism for succession in the Kingdom.

“If there is one thing the ruling princes of Saudi Arabia have shown they are good at, it is self-preservation. They demonstrated their skill once again last month with an adroit political maneuver.. .. King Abdullah announced a new system for choosing future kings, designed to ensure smooth continuity whenever the monarchy is vacated. He issued a new “Allegiance Institution Law” designed to cover every eventuality: death of the king; simultaneous death of the king and crown prince; temporary incapacity because of illness; and long-term disability. This news can only be encouraging to those who wish to see long-term political and economic stability in that vital country.” [More information about the Allegiance Law is in SUSRIS at some of the links below.]

King Abdullah bin Abdulaziz ascended the throne of Saudi Arabia upon the death of his half-brother King Fahd in August 2005. Abdullah had served as de facto regent since 1996 following a stroke suffered by Fahd. In that time Abdullah led the Kingdom through many of its most daunting challenges including: the economic downturn of the late 1990s; the strain on relations with the United States following 9/11; the search for peace between Arabs and Israelis; the proliferation of regional security threats; the domestic threat posed by Al Qaeda’s deadly terrorist campaign across the Kingdom; and plans for political, social and economic reform.

In the five years King Abdullah has been on the throne he has maintained a very active international travel schedule, including visits to world leaders in the United States, Europe, and Asia. This summer he traveled to Canada for the Group of Twenty (G-20) Summit in Toronto and to the United States for meetings with President Obama.

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IN MEMORIAM: PETER GUBSER (1941-2010)

Editor — Fri, 03 Sep 2010 23:27:12 +0000

By John Duke Anthony

It is with great sadness that I write to say that Dr. Peter Gubser has lost his battle with cancer.

Peter was not just a fellow laborer in the vineyard of trying to place the relationship between the United States and the Arab world on the firmest footing possible. He was not only a great teacher, scholar, and lucid writer as well as author of several very good books on Lebanon, Jordan, and Saladin. He was also a role model as an inspirational leader, an institution builder, the longtime head of one of the world’s most effective philanthropic organizations devoted to the alleviation of suffering and the provision of opportunities for those in need, as well as an indefatigable champion of the rights of Palestinians living under Israeli occupation. And he was still more. His devotion to his beloved wife Annie, their two children and two grandchildren, together with his great sense of humor, incisive wit, and joy in laughter, even when the joke was on him, was boundless.

For the National Council on U.S.-Arab Relations, Peter was all these things and many more. He was one of four friends who agreed to join me in establishing the Council in 1983. In the twenty-seven and a half years from that founding until the board’s most recent gathering this past May, Peter, whose sage input and comment always enriched the sessions’ deliberations, was the sole board member never to have missed a single meeting.

In addition to being one of the National Council’s cofounders, Peter served from the beginning to the present as its treasurer. In the process, he introduced to the Council its system of accounting that has remained in place to this day. That gift helped pave the way for the National Council on U.S.-Arab Relations being awarded this past year the highest possible rating for effective financial management and stewardship by America’s foremost charitable organization accrediting agency.

Peter Gubser (1941-2010) More than with any other founding board member, Peter and I had a particularly rich formative experience in common. The late Joseph J. Malone, former head of the history department at American University of Beirut (where Peter had been a student) and later chair of the U.S. National War College’s Middle East Program, was long Peter’s and my mentor, close friend, and colleague. Indeed, Peter was first introduced to me by Joe in 1971. When I was the then Assistant Editor of the Middle East Journal, Joe persuaded me that, because Peter’s command of Arabic was so good and his detailed knowledge of Lebanon’s system of governance and political dynamics so thorough, he should be the person to review Man Yuhakim Lubnan? [Who Rules Lebanon?] for the Journal’s Book Review Section. Peter did just that, thereby cementing a friendship and professional relationship between us that lasted 39 years.

Many friends of the National Council are aware that the Malone Family earlier this past year bequeathed to the Council Joe and Lois Malone’s outstanding pre-Islamic Pottery Collection. Peter and Annie were both on hand for the event that commemorated this bequest. In the evaluating criteria that influenced the family’s decision to award the collection to the Council, it mattered much not only that Joe himself was a founding member of the Council’s National Advisory Board but also that Peter Gubser and I as Council cofounders, together with our respective wives, had long been close to Joe and Lois.

Yet another positive factor in the Malone family’s decision was that following Joe’s passing on December 4, 1983, Peter lent his support to the National Council’s decision to establish its premier university educator award: the Joseph J. Malone in Arab and Islamic Studies Fellowship. As the Malone Family entrusted the Council with its priceless pre-Islamic treasures in part because of Peter’s long, faithful, and effective service as Council cofounder, board member, and treasurer, so too will the Council, its friends, and supporters forever treasure the memory of Dr. Peter Gubser. Fare thee well, Peter.

Dr. John Duke Anthony is President and CEO of the National Council on U.S.-Arab Relations.

###

The United Nations Relief and Works Agency for Palestine Refugees in the Near East

3 September 2010

With deep sadness UNRWA marks the passing of Dr Peter Gubser, committed advocate for the well-being of Palestinians over many decades, and true supporter of UNRWA’s work in the region. Dr Gubser was the Chairman of the Board of the American Friends of UNRWA from 2008 until his death. He was also president of ANERA – American Near East Refugee Aid – for 29 years. Peter Gubser died yesterday, 2 September 2010, after a battle with cancer.

His pioneering work on providing quality education for Palestinians and a peaceful future for the people in the region will endure. He will be missed by UNRWA and the refugees we serve.

Source: UNRWA.org

A Letter to Mayor Bloomberg – Amr Khashoggi

Editor — Mon, 09 Aug 2010 12:00:17 +0000

Editor’s Note:

Last week the New York City Landmarks Preservation Commission cleared the way for new construction on a site in lower Manhattan where developers plan to build an Islamic community center. The center, dubbed Cordoba House, has been controversial as opponents object to what some call “The Ground Zero Mosque” being located within blocks of the World Trade Center site. The proposal has become more than a local issue with national figures contributing their voices to the debate.

New York City Mayor Michael Bloomberg did not shy away from the controversy. He was an early defender of the Cordoba House developers based on America’s principles of religious liberty and private property. After the Landmarks Commission decision Bloomberg gave an address from Governor’s Island in New York Harbor, with the Statue of Liberty as a backdrop. It was a stirring speech addressing the controversy in the context of New York City’s history of religious tolerance – back to its days as a Dutch colony, America’s constitutional protections of religions, and the emotional legacy of 9/11. Bloomberg said in part, “..it is my hope that the mosque will help to bring our City even closer together and help repudiate the false and repugnant idea that the attacks of 9/11 were in any way consistent with Islam. Muslims are as much a part of our City and our country as the people of any faith and they are as welcome to worship in Lower Manhattan as any other group..”

The prospects for the Cordoba House touched more than the local and national audiences. Indeed the controversy has been followed internationally, especially in the Arab and Islamic world. Among those interested in how this story has unfolded is Mr. Amr Khashoggi, a distinguished Saudi Arabian businessman, who has generously shared his perspectives on Saudi-US relations with SUSRIS in the past.

In 2006 he wrote an “open letter” expressing his concerns about the challenges for both countries to maintain the historic bridges that were built before 9/11. A year later we asked him, in a SUSRIS exclusive interview, to reflect on progress that might have been made subsequent to his “open letter.” He suggested some progress had been made but much more needed to be done. “We are still faced with a serious case of misunderstanding, misconception and deep ignorance and lack of awareness of the situation. We still have a lot to do to bridge the chasm created by extremists on both sides and their cohorts. When we stiffen our positions and dig our heals into the ground and shut our ears to honest, transparent and civil dialogue between our two nations, then the chasm will get bigger and we cannot build on our common values nor can we be in a position to respect our legitimate differences.”

Today it is a singular distinction for SUSRIS to share another of Mr. Khashoggi’s letters. This one is addressed to New York City Mayor Michael Bloomberg and provides Mr. Khashoggi’s reaction to the mayor’s stand on Cordoba House.

Jeddah, Saudi Arabia
August 9, 2010

A Letter to the Mayor of the City of New York

Mayor Michael R. Bloomberg
City Hall
New York, NY 10007

Dear Mayor Bloomberg:

Mr. Mayor, I am writing today to express my appreciation and admiration for your principled stand in dealing with the question of the Cordoba House in Manhattan, or as some call it, the “Ground Zero Mosque.” I was especially moved by your speech at Governor’s Island on August 3rd. As a Saudi Arabian citizen who was educated in the United States and enjoys strong family, business, social and cultural ties with America I am very interested in strengthening the bridges that connect us and challenging the questions that could divide us.

Most people who have sought to understand 9/11 appreciate that the criminals who perpetrated the attacks that day sought to drive a chasmal wedge separating Americans from the Islamic world, and from Saudi Arabia in particular. It was clear that it only takes a few minutes for a mindless act of violence to destroy not only the lives and livelihood of victims but also the strong friendship between nations such as ours that took decades of hard work to build.

It is easy to understand the emotional toll of 9/11 upon many who oppose the Cordoba House. The horrific events that dark day also crushed the hearts of America’s friends in my country and among the hundreds of millions of Muslims around the world who have not been lured away from the truth of my faith, Islam, by the criminals who perpetrated those crimes. I strongly agree with your belief that, “To cave to popular sentiment would be to hand a victory to the terrorists,” and that “We would betray our values and play into our enemies’ hands if we were to treat Muslims differently than anyone else.” We Saudis and Americans must prevail, shoulder-to-shoulder, in our battle against senseless terrorism and bigotry whether they are in your country or mine.

As you may recall our leader, King Abdullah, the Custodian of the Two Holy Mosques of Islam, was in New York City in November of 2008 as the driving force behind the United Nations “Culture of Peace” meeting that sought to build understanding among the world’s religious communities. “We say today with a single voice that religions through which God Almighty sought to bring happiness to mankind should not be turned into instruments to cause misery,” he said, adding, “Human beings are created equals and partners on this planet. Either they can live together in peace and harmony or they will inevitably be consumed by the flames of misunderstanding, malice and hatred.” When the President of Israel was at the UN podium he commented on King Abdullah’s call for tolerance and indictment of terrorism as an enemy of all religions saying, “I wish that your voice will become the prevailing voice of the whole region, of all people … it’s right, it’s needed, it’s promising.”

You also know of your president’s concerns about people working together to build a better future. Last year President Barack Obama opened a new dialogue with the Muslim world in his Cairo address, “So long as our relationship is defined by our differences, we will empower those who sow hatred rather than peace, and who promote conflict rather than the cooperation that can help all of our people achieve justice and prosperity. This cycle of suspicion and discord must end. I have come here to seek a new beginning between the United States and Muslims around the world; one based upon mutual interest and mutual respect; and one based upon the truth that America and Islam are not exclusive, and need not be in competition. Instead, they overlap, and share common principles – principles of justice, progress, tolerance and the dignity of all mankind.”

It was with those sentiments – a Saudi Muslim, an Israeli Jew and an American Christian – in mind that I found your forthright defense of religious tolerance and understanding from the first days of the current controversy, courageous and hopeful. The belief that “there is no neighborhood in the city that is off limits to God’s love and mercy” should give all human beings equal hope that we can make progress to understanding and living together in peace and prosperity.

Thank you.

Amr M. Khashoggi
Jeddah, Kingdom of Saudi Arabia

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Photo Credit: City of New York/Edward Reed

“A New Beginning” – Obama’s Cairo Speech One Year Later

Editor — Wed, 02 Jun 2010 06:35:18 +0000

“A New Beginning” – Dialogue Between America and the Muslim World

President Barack Obama’s Cairo Address

Editor’s Note:

This week marks the first anniversary of President Barack Obama’s speech to the Muslim world in Cairo where he sought “to seek a new beginning between the United States and Muslims around the world; one based upon mutual interest and mutual respect; and one based upon the truth that America and Islam are not exclusive, and need not be in competition. Instead, they overlap, and share common principles – principles of justice and progress; tolerance and the dignity of all human beings.”

In the wake of the Cairo address there was a measurable positive reaction in the Arab world for President Obama and the United States.Dr. James Zogby, Arab American Institute President, writing in “Washington Watch” characterized the speech as focused on shared problems, shared misconceptions and shared goals, which “elicited a near euphoric response from most officials and editorial writers across the Arab World.” He added,”The reactions of the Arab public, on the other hand, though positive, were more tempered and nuanced.”

The uptick in positive feelings toward America dissipated as U.S. policy accomplishments in the region did not match the expectations of the Arab audience for Obama’s Cairo remarks. In one of its first tests the Obama Administration placed roadblocks before the “GoldStone Report,” the UN sponsored investigation by South African judge Richard Goldstone into allegations of war crimes committed during Israeli military operations in Gaza in December 2008-January 2009. “This single act greatly damaged America’s image across the Arab world at a time when perceptions were changing for the better,” wrote Middle East Broadcasting correspondent Nadia Bilbassy-Charters in December 2009. That stumble, according to former U.S. Ambassador Chas Freeman was followed by President Obama’s demonstrable lack of progress on Middle East Peace, highlighted by the failure to obtain a freeze on new Israeli settlements in the Occupied Territories, “The current confrontation with the Netanyahu government over settlements comes in the context that hopes raised in the Obama Cairo speech have long since evaporated and the United States has no credibility to speak of on this issue.” In an exclusive SUSRIS interview Freeman noted, “President Obama’s speech at Cairo demonstrated conclusively that he understands the centrality of the Israel-Palestine dispute to the difficulties we have in dealing with the Arab world and the Islamic world more generally.. ..it is that dispute which radicalizes Muslim populations

Greek Debt Crisis and the Kingdom

Editor — Tue, 11 May 2010 11:01:41 +0000

Editor’s Note:

European partners and international institutions are jumping in to provide Greece with financial support as its fiscal situation continues to falter, in some measure to avoid the financial “contagion” from jumping to other shaky economies in the Eurozone. On Sunday the IMF approved EUR30 billion for loans to Greece, its largest ever commitment to a single country but markets remained skeptical that the country would have “the discipline to see the required reforms through and that the country’s economy will be able to grow enough to repay their loans on time,” according to Ian Talley writing for the Wall Street Journal. “Halting the contagion is the primary reason why financial leaders said they’re developing a special “stability mechanism,” he noted.

What does the Greek tragedy mean for areas outside the Eurozone, especially for the Gulf and Saudi Arabia? We are pleased today to provide for your consideration a “Flashnote” from Dr. John Sfakianakis and the economic research team at Banque Saudi Fransi which provides a comprehensive review of the challenges that Saudi Arabia will face from the European economic woes.

Dr. Sfakianakis noted, in an email circulating the report yesterday, “As Greece’s debt crisis escalates and threatens to spread across Europe, Saudi Arabia and other countries in the Middle East will have to negotiate the headwinds of contagion that are likely to find their way into the region. We explore the possible implications of an intensification of the European debt crisis on the kingdom in our latest Flashnote, “Bracing for Greek contagion: Saudi exports could suffer minimally from fallout, overall impact restrained.”

We thank Dr. Sfakianakis for sharing this timely analysis with you.

[Visit HERE for the complete report including insightful charts and graphs.]

Bracing for Greek contagion

Saudi exports could suffer minimally from fallout, overall impact restrained

• Saudi banking sector shielded from Greek contagion, but oil prices and equities face sharp tests from escalating European debt troubles
• Trade with Europe – source of almost a third of Saudi imports and destination of 10.6% of exports – could get slightly shaken by debt woes, but impact on trade balance minimal
• Saudi CDS lowest in region, supporting kingdom’s investment case based on strong ﬁscal fundamentals; even with oil averaging at $65, Saudi would post twin surpluses in 2010

Concerns are escalating over the spread of Greece’s debt crisis into other European nations and to what extent this could wreak havoc on the euro, which is facing its biggest test since its inception more than a decade ago. Any contagion from intensifying troubles in European ﬁnancial markets will inevitably unfold across the globe, hurting equities, commodities and currencies alike – and the Gulf region is no exception. Once the dust has settled, however, the fallout for the Saudi economy will most likely be restrained; the kingdom is better insulated than other states in the region due to a solid macroeconomic backbone.

Greece’s debt troubles and the tangible odds that it could spread through other less indebted European nations such as Spain and Portugal, has the potential to trigger a new round of de-leveraging by banks across the euro zone. Given the moderate level of direct involvement of European banks in Saudi Arabia, any implications on the kingdom’s development plans from de-leveraging would be tempered in our view.

Saudi Arabia’s public and private sectors are not very heavily reliant on European leverage for ﬁnancing various expansion projects. Banks are awash with plenty of liquidity and the state has taken a major burden in funding strategic projects, which will continue to happen as Europe works to navigate its way out of the debt quandary.

Taking cues from global peers, local banks could hold off a bit longer on abandoning the risk aversion tendencies that have in the past year prompted them to vet new lending with a ﬁne tooth comb. This contributed to stagnancy in bank credit growth and proﬁt declines, which are poised to continue if the global economic recovery falters. Some concerns among Saudi banks could surface if there are signs any businesses face ﬁnancial difﬁculties stemming from heavy exposure to Europe, although we suspect this would be an improbable scenario. The private sector, already struggling to regain ground, would not be unscathed by a double-dip global recession, although we are not currently envisaging this scenario.

Oil, equities face tenuous test

Still, the second round effects from the Greek debt tragedy, namely shocks on oil and equity markets, would carry important implications for Saudi Arabia, the world’s top exporter of crude oil, depending on how much prices drop. Having held above $80 a barrel for two months, oil tumbled more than $10 last week to this mid-$70 level, weighed by worry that the euro zone debt crisis could derail the tenuous global economic recovery.

Saudi Arabia regards $75 oil as a perfect price to serve the prevailing economic conditions globally. The price enables it and other heavily oil-reliant economies to keep investing in building energy output capacity for the medium term. Fiscally speaking, Saudi Arabia will remain on ﬁrm footing, able to generate a budget surplus this year so long as oil prices average $65 a barrel. Should oil breach $65 a barrel, this could prompt OPEC action to put a ﬂoor under declines. With ameliorating trade ﬂows in the ﬁrst quarter, meanwhile, the kingdom is poised to comfortably achieve a current account surplus in 2010 exceeding the nearly SR100 billion surplus it generated last year despite global economic jitters.

Yet, since a large degree of investment activity occurs due to psychology rather than fundamentals, any sustained drop in oil prices will affect investors’ perceptions and lead to broad sell-offs in equity markets, particularly the ones most sensitive to oil price movements such as petrochemical companies.

The Saudi Tadawul index is positively correlated with global measures, such as the Dow Jones Industrial Average and the S&P 500. Therefore, local shares cannot avoid being caught in any downdraft, not due to ﬂeeing foreign investors but because perception plays a big part in shaping retail investor behaviour that dominates the trading ﬂoor. De-leveraging ﬂows would also likely move away from emerging markets should Europe’s crisis worsen, carrying some implications for the Gulf.

Testing trade links

We do not foresee the Saudi banking system or the dollar-pegged riyal currency facing any systematic risks as a result of Greek contagion. Saudi trade with Europe is important, although the bloc is not as crucial to its balance of payments as it is for other states in the region, such as North African nations Tunisia, Morocco, Algeria and Egypt. More than 63% of Tunisian exports, a majority of Morocco’s exports and close to 50% of Algerian exports are destined for Europe. In the last ﬁscal year, moreover, 34% of Egypt’s exports went to the EU, also the source of about half of its tourist arrivals, although Egypt’s remittance ﬂows are centred more heavily in the Gulf than Europe.

Still, trade with Europe is extremely important for Saudi Arabia. Almost a third of Saudi Arabia’s 2009 imports came from Europe, although Greece’s contribution was a negligible 0.3% of the European total. Spain and Italy are far more important trading partners for the kingdom, accounting for 4.3% and 12.2% of European exports to Saudi Arabia, respectively.

Saudi exports to Europe, primarily of oil and petrochemicals, more than tripled between 2003 and 2008, although their ratio to total Saudi exports has fallen gradually as Asia countries gained greater prominence as trading partners. In 2008, exports to Europe accounted for 10.5% of total Saudi exports, with Greece accounting for 6.3% of that.

Weakness in European economies will mean a slowdown in export growth and in tourist visits but this should be felt more in the tourist-reliant North Africa than Saudi Arabia. Saudi importers would beneﬁt from a weaker euro for such goods as machines, specialised equipment, personal vehicles and luxury items. But about 70% of imports are dollar-based so the overall macro-economic and lower price pass through effect consequences of a weaker euro would be felt, although not aggressively. Non-oil exports, comprising mainly petrochemicals, are unlikely to be hurt by the currency situation, although they could face downward pressures should Asian demand dynamics change in the coming months.

Aftershocks in the global recovery also risk hurting foreign direct investment into the region. Gulf countries account for roughly 1% of FDI from the European Union, on par with India, according to Eurostat’s EU foreign direct investment yearbook for 2008. That compares with 2.3% of total EU FDI destined for North Africa and 3.6% to South America.

The weakening euro would also reduce European purchasing power in the region, a fact that would hit countries in the Middle East that attract large numbers of European tourists, such as Egypt, Tunisia and Morocco than the Gulf. In our view, the euro will continue to depreciate after falling below $1.30 last week, and could dip further to the low $1.20 levels by year-end. Should the crisis be allowed to spread beyond Greece into Spain, Portugal and Italy, this euro-dollar level risks being breached within a matter of days. A sustained fall in the euro contributes to the downward pressure on the Egyptian, Moroccan and Tunisian currencies, which could risk stoking inﬂation but we do not foresee such a scenario at this stage, especially in Egypt.

The fragility of sovereign issuers during the current crisis has been priced in more thoroughly in Europe than in the United States, where the deﬁcit situation is distressing to say the least. Everything taken relatively, Europe currently looks worse than the United States, largely because economic growth and policy response has been more solid in the latter’s case. As markets price in the risk of worsening global liquidity, peripheral assets and currencies will fall out of favour, supporting the dollar and, as an extension, the Saudi riyal.

Preserving its investment case

Saudi Arabia is on the whole well-insulated from European contagion. During 2009, project ﬁnancing from Europe into the kingdom was subdued and this scenario is unlikely to change; any European de-leveraging will provide more opportunities for Asian banks. Trade ﬁnance links between Saudi and European banks will continue to exist and are not likely to face any grave risks although as European banks deleverage appetite for ﬁnancing will decline. Meanwhile, Saudi commercial banks, traditionally more risk averse than their regional peers, stand to gain from their conservative investment policy.

Among emerging markets, Saudi assets are well placed to absorb funds in search of safer corporate bond investments. As we have stated in the past, Gulf states are slowly being re-categorised such that Saudi Arabia – with its large indigenous population fuelling domestic demand, plush foreign assets supporting twin surpluses, and noticeable lack of asset price bubbles – looks like a decidedly healthier investment prospect than its peers. Corporate bond issuers could take advantage of this as markets search for fundamental value.

The cost of insuring Saudi debt against default remains low relative to regional peers. At the end of last week, ﬁve-year credit default swaps (CDS) for Saudi sovereign debt stood at 71.35, almost 30 basis points lower than Qatar and 44 bps less than Abu Dhabi. Compared with Europe, where Greek CDS surpassed 1,011, Saudi CDS are lower than France’s.

Direct exposure to Greece by Saudi businesses, meanwhile, is not large. If the European crisis spreads into Spain, Portugal and Italy, Saudi exposure would widen, although not in a way we would deem threatening. The Gulf will also have to watch EU crisis management techniques, which could have implications for its own beleaguered monetary union plan. The Gulf would look to assess the institutional mechanisms needed to support members who run into ﬁscal and liquidity problems.

Saudi Arabia and its Gulf neighbours will need to be vigilant in facing what is increasingly becoming clear is a fragile global recovery that is holding ground only on the grace of hefty state stimulus intervention. Investors will continue to be anxious as they contend with Europe’s serious ﬁscal debt problems, poised to hit Middle Eastern countries with varying degrees of intensity. How well the EU defends its single currency and the success of efforts to fend off a global sovereign debt crisis that would drag the world back into recession will underpin policy responses in the coming months. Saudi Arabia is well-placed to respond to possible headwinds coming its way.

Disclosures and disclaimers in the original document

Source: Banque Saudi Fransi

Contact Info:
Dr. John Sfakianakis – Chief Economist
Tel: +966 1 289 1797 – Email: johns@alfransi.com.sa

Turki A. Al Hugail – Economic Research Analyst
Tel: +966 1 289 1163 – Email: talhugail@alfransi.com.sa

Daliah Merzaban – Economic Analyst
Tel: +971 4 428 3608 – Email: dmerzaban@alfransi.com.sa

U.S.-Saudi Business Opportunities Forum

Editor — Mon, 12 Apr 2010 17:50:42 +0000

The U.S.-Saudi Business Opportunities Forum will be a high-level gathering of senior officials and business leaders from Saudi Arabia and the United States. The two-day forum is designed to increase understanding and explore opportunities for greater economic collaboration between the two.

U.S.-Saudi Business Opportunities Forum
Chicago, Illinois
April 28-29, 2010

The U.S.-Saudi Business Opportunities Forum will take place in Chicago, Illinois on April 28-29, 2010. This high-level gathering of senior officials and corporate leaders from Saudi Arabia and the United States is designed to increase understanding and business interchange between the two nations.

In light of Saudi Arabia’s growing role in global financial and economic issues and the need for a continued collaborative U.S.-Saudi relationship in these areas, this two-day event will be a major platform for senior businesspeople and high-level government officials from both countries to explore opportunities for greater economic cooperation, as well as to develop new and lasting business ties.

The Forum will feature Davos-style panels, keynote addresses and concurrent breakout sessions. The event will have broad media coverage and offer successful networking opportunities with an emphasis on the unprecedented trade and investment opportunities now available in Saudi Arabia. There will be focus on identifying specific commercial and investment opportunities, particularly for small and medium sized companies.

Sessions will feature senior executives from U.S. companies currently engaged successfully in the Saudi market along with Saudi government and private sector experts in their fields. Specific and immediate business opportunities will be presented, offering profit making potential for U.S. firms.

Breakout topics will include:

Energy
Finance and Investment
Information Technology
Water and Electricity
Petrochemicals and Plastics Manufacturing
Construction
Small and Medium Sized Enterprises
Agriculture

Go to the Web Site

SPEAKERS

H.H. Prince Faisal Bin Abdullah Al-Saud, Minister of Education
H.E. Abdullah Alireza, Minister of Commerce and Industry
The Honorable Gary Locke, Secretary of Commerce
H.E. Dr. Ibrahim Al-Assaf, Minister of Finance
H.E. Engineer Ali Al-Naimi, Minister of Petroleum and Mineral Resources
The Honorable Robert D. Hormats, Under Secretary of State for Economic, Energy, and Agricultural Affairs
H.E. Dr. Abdulrahman Al-Tuwaijri, Chairman & CEO, Capital Market Authority
The Honorable Andre Winston Lewis, Deputy Assistant Secretary, U.S. Department of Education
H.E. Adel Al-Jubeir, Ambassador of the Kingdom of Saudi Arabia to the United States
The Honorable General James B. Smith, United States Ambassador to the Kingdom of Saudi Arabia
The Honorable Richard M. Daley, Mayor, City of Chicago
William M. Daley, Chairman, Chicago Steering Committee, Chairman, Midwest, J.P. Morgan Chase
Dr. Khaled M. Al-Sulaiman, Deputy Minister for Industry, Ministry of Commerce and Industry
Abdullah Al-Hamoudi, Deputy Minister for Foreign Trade, Ministry of Commerce and Industry
Dr. Abdullah Al-Obaid, Deputy Minister, Ministry of Agriculture
The Honorable Bijan R. Kian, Member, Board of Directors, Export-Import Bank of the United States
H.E. Dr. Abdulrahman Al-Saeed, Advisor, Royal Court
John S. Watson, Chairman & CEO, Chevron
James McNerney, Jr. Chairman, President & CEO, The Boeing Company
James Owens, CEO, Caterpillar
Engineer Mohamed Al-Mady, Vice Chairman & CEO, SABIC
William Hall, Executive Director, WorleyParsons
Peter Robertson, Vice Chairman, Chevron – Retired and U.S. Co-Chairman, USSABC
Ferdinando Beccalli, President and CEO, GE International
Michael Dolan, Senior Vice President, ExxonMobil
Dr. Abdallah E. Dabbagh, President & CEO, Ma’aden
Mubarak Al-Khafrah. Chairman, Tasnee
Dr. Fahad Al Mubarak, Chairman, Tadawul
Richard Debs, Advisory Director, Morgan Stanley & Co., and Vice Chairman, U.S.-Saudi Arabian Business Council
C. David Welch, President, Europe, Africa, Middle East, Bechtel Ltd.
Peter Oosterveer, Group President, Energy and Chemicals, Fluor Corporation
James D. McIlvenny, SVP Performance Products Division, The Dow Chemical Company
Dr. Lama Al-Sulaiman, Vice Chairman, Jeddah Chamber of Commerce and Industry
Ambassador Ford M. Fraker, Senior Advisor and Chairman, Middle East and North Africa, KKR & Company
Michael Porter, Co-Founder, Monitor Group
Pete Costa, Vice President, Critical Infrastructure, Honeywell Automation and Control Systems
Thomas O’Neill, Senior Vice President, Exelon Corporation
Thamer S. Al-Sharhan, President & CEO, Marafiq
Nabil Habayeb, President & CEO, General Electric Middle East and Africa
Erik Fyrwald, Chairman & CEO, Nalco
Jerry Roper, President, Chicagoland Chamber of Commerce
Dr. Afnan Al-Shuaiby, CIT Member and Secretary General & CEO, Arab British Chamber of Commerce
John Lefas, CEO, Ingenia Polymer
Engineer Azzam Shalabi, CEO, Saudi Arabia’s National Industrial Cluster Development Program
Dr. Ibrahim Babelli, CEO, National Industrial Strategy
Dr. Tawfiq Al-Rabiah, Director General, Saudi Industrial Property Authority (Modon)
Abdulaziz Al-Fahad, Chairman, Committee for International Trade
Dr. Abdulaziz Jazzar, Executive Partner, Malaz Capital
Anant K. Upadhyaya, Senior Vice President, Aquatech International
Dr. Ali Alsoma, GM for E-Government Program in Saudi Arabia
David Weinstein, President of Chicago Entrepreneurial Center
Dr. John Sfakianakis, Chief Economist, Banque Saudi Fransi
Dr. Abdulaziz Jazzar, Executive Partner, Malaz Capital
Taha Asad Alshareef, Team Member, King Abdullah Initiative for Agro-Investment Abroad, Ministry of Commerce and Industry
Dr. Ihsan Ali Buhaligah, Chairman, Joatha Business Development Associates
Steve Clemons, New America Foundation

PROGRAM

TUESDAY, APRIL 27, 2010
5:00 P.M. – 7:00 P.M.

Reception at Sheraton Hotel

WEDNESDAY, APRIL 28, 2010
7:30 A.M.
Registration and Coffee

8:30 A.M.
Welcoming Remarks
William M. Daley, Chairman, U.S.-Saudi Business Opportunities Forum, Chicago Steering Committee, Chairman, Midwest, J.P. Morgan Chase (Confirmed)
Setting the Theme
James W. Owens, Chairman & CEO, Caterpillar (Confirmed)
James McNerney, Jr. Chairman, President & CEO, The Boeing Company (Confirmed)
9:00 A.M.

Panel Discussion
The U.S. and Saudi Arabia: A New Economic Order
Moderator: Richard Debs, Advisory Director, Morgan Stanley & Co., and Vice Chairman, U.S.-Saudi Arabian Business Council (Confirmed)
H. E. Dr. Ibrahim Al-Assaf, Minister of Finance (Confirmed)
The Honorable Neal Wolin, Deputy Secretary, U.S. Department of the Treasury (Confirmed)
William M. Daley, Chairman, U.S.-Saudi Business Opportunities Forum, Chicago Steering Committee, Chairman, Midwest, J.P. Morgan Chase (Confirmed)
H. E. Dr. Abdulrahman Al-Tuwaijri, Chairman and CEO, Capital Market Authority (Confirmed)
H.E. Dr. Muhammad Al-Jasser, Governor, Saudi Arabian Monetary Agency (Invited)
10:00 A.M.

Discussion

10:30 A.M.

Networking Break

10:45 A.M.

Panel Discussion – Global Energy Interdependence, Global ResponsibilitiesModerator: Ferdinando Beccalli, President & CEO, GE International (Confirmed)
H.E. Engineer Ali Al-Naimi, Minister of Petroleum and Mineral Resources (Confirmed)
The Honorable Steven Chu, Secretary of Energy (Invited)
Peter DuPrey, CEO, Acciona Energy (Confirmed)
John S. Watson, Chairman & CEO, Chevron (Confirmed)
Khalid Al-Falih, President and CEO, Aramco (Invited)
11:45 P.M.

Discussion

12:15 P.M.

Luncheon

Keynotes: Expanding U.S.-Saudi Trade in a Competitive World
Introduction: Dr. Afnan Al-Shuaiby, CIT Member and Secretary General & CEO, Arab British Chamber of Commerce (Confirmed)
H. E. Abdullah Alireza, Minister of Commerce and Industry (Confirmed)
Introduction: James Albaugh, President and CEO, Commercial Airplanes, The Boeing Company (Confirmed)
The Honorable Gary Locke, Secretary of Commerce (Confirmed)
2:00 P.M.

Panel Discussion – Strategies to Promote Economic Growth/Saudi Industrial StrategyModerator: Joe Fuller, Co-Founder and CEO, Monitor Group (Confirmed)
Dr. Ihsan Ali Buhaligah, Chairman, Joatha Business Development Associates (Confirmed)
H. E. Dr. Khaled Al-Sulaiman, Deputy Minister for Industry, Ministry of Commerce and Industry (Confirmed)
Dr. Ibrahim Babelli, CEO, National Industrial Strategy (Confirmed)
Engineer Azzam Shalabi, CEO, Saudi Arabia’s National Industrial Cluster Development Program (Confirmed)
2:45 P.M.

Discussion

3:15 P.M.

Panel Discussion – Education: Saudi Arabia’s Commitment to its Future – Moderator: Steve Clemons, Director, American Strategy Program, New America Foundation (Confirmed)
H.H. Prince Faisal Bin Abdullah Al-Saud, Minister of Education (Confirmed)
H.R.H. Princess Loulwa Al Faisal, Vice Chairman, Effat University (Confirmed)
The Honorable Andre Lewis, Deputy Assistant Secretary, U.S. Department of Education (Confirmed)
H.E. Dr. Khaled Al Sabti, Deputy Minister of Education (Invited)
Mark Emmert, President, University of Washington (Confirmed)
4:15 P.M.

Discussion

4:45 P.M.

Day 1 Break

6:00 P.M.

IMAX Film on Saudi Arabia and Dinner
* Please note: business attire required

Keynote Speakers
Introduction: Abdulaziz Al-Fahad, Chairman, Committee for International Trade
H. E. Adel Al-Jubeir, Ambassador of the Kingdom of Saudi Arabia to the United States of America (Confirmed)
The Honorable General James Smith, U.S. Ambassador to Saudi Arabia (Confirmed)
The Honorable Richard M. Daley, Mayor, City of Chicago (Confirmed)
THURSDAY, APRIL 29, 2010
8:00 A.M.

Registration and Coffee

9:00 A.M.

Concurrent Workshops

Session One

Panel 1: Opportunities in the Energy Sector
Moderator: Michael Dolan, Senior Vice President, ExxonMobil (Confirmed)
Munir Al-Rafie, Vice President of Materials Supply, Aramco (Confirmed)
Peter Oosterveer, Group President, Energy and Chemicals, Fluor Corporation (Confirmed)
Paul Bonner, Business Director, Honeywell Process Solutions (Confirmed)
Ahmed Suliman Al Rajhi, Vice Chairman, Al Rajhi Group (Invited)
Thomas O’Neill, Senior Vice President, Exelon Corporation (Confirmed)
Panel 2: Opportunities in Water and Electricity
Moderator: Anne Pramaggiore, President & COO, ComEd (Invited)
Thamer S. Al-Sharhan, President & CEO, Marafiq (Confirmed)
Nabil Habayeb, President & CEO, General Electric Middle East and Africa (Confirmed)
Anant K. Upadhyaya, Senior Vice President, Aquatech International (Confirmed)
Erik Fyrwald, Chairman & CEO, Nalco (Confirmed)
Loay Al Musallam, CEO, National Water Company (Invited)
10:30 A.M.
Networking Break

10:45 A.M.

Concurrent Workshops

Session Two
Panel 3: Meeting Saudi Arabia’s Infrastructure Needs
Moderator: Manar Al-Munif, SAGIA (Invited)
Dr. Abdallah E. Dabbagh, President & CEO, Ma’aden (Confirmed)
William Hall, Executive Director, WorleyParsons (Confirmed)
C. David Welch, President, Europe, Africa, Middle East, Bechtel Ltd. (Confirmed)
Dr. Awad Al-Awad, Deputy Governor for Investment Affairs, SAGIA (Confirmed)
Dr. Tawfiq Al-Rabiah, Director General, Saudi Industrial Property Authority (Modon) (Confirmed)
Panel 4: Opportunities in Downstream Petrochemicals
Moderator: Charles S. Hallab, Chair, Middle East Practice, North America, Baker & McKenzie LLP (Confirmed)
Engineer Mohamed Al-Mady, Vice Chairman & CEO, SABIC (Confirmed)
James D. McIlvenny, SVP Performance Products Division, The Dow Chemical Company (Confirmed)
Mubarak Al-Khafrah, Chairman, Tasnee (Confirmed)
John Lefas, CEO, Ingenia Polymer (Confirmed)
Special Workshop: Saudi Arabia’s Agricultural Initiative
Abdullah Al-Hamoudi, Deputy Minister for Foreign Trade, Ministry of Commerce and Industry (Confirmed)
Taha Asad Alshareef, Team Member, King Abdullah Initiative for Agro-Investment Abroad, Ministry of Commerce and Industry (Confirmed)
Dr. Abdullah Al-Obaid, Deputy Minister for Research and Agricultural Development, Ministry of Agriculture (Confirmed)
12:15 P.M.

Networking Break

12:30 P.M

Luncheon

Keynotes: Creating a Workforce for the Future
Introduction: Rita Athis, President, World Business Chicago (Confirmed)
Dr. Lama Al-Sulaiman, Vice Chairman, Jeddah Chamber of Commerce and Industry (Confirmed)
H.H. Prince Faisal bin Abdullah Al-Saud, Minister of Education (Confirmed)
2:30 P.M.

Concurrent Workshops – Session Three

Panel 5: Building a Knowledge-based Society
Moderator: Dr. Abdulaziz Jazzar, Executive Partner, Malaz Capital (Confirmed)
Dr. Ali Alsoma, GM for E-Government Program in Saudi Arabia (Confirmed)
David Weinstein, President, Chicago Entrepreneurial Center (Confirmed)
Feroz Sanulla, Executive Director, Middle East, IntelCapital (Confirmed)
Tim Draper, Managing Director, Draper Venture Capital (Confirmed)
Panel 6: Finance and Investment
Moderator: Khaled Olayan, Group Chairman, The Olayan Group
Dr. Fahad Al Mubarak, Chairman, Tadawul (Confirmed)
Ambassador Ford M. Fraker, Senior Advisor, Middle East and North Africa, KKR & Company (Confirmed)
Mark Garvin, Chairman, Treasury and Security Services, JP Morgan Chase (Invited)
Dr. John Sfakianakis, Group General Manager and Chief Economist, Banque Saudi Fransi (Confirmed)
4:15 P.M.

Final Session – Incentives for Trade and Investment
Moderator: Peter Robertson, Vice Chairman, Chevron – Retired and U.S. Co-Chairman, USSABC (Confirmed)
The Honorable Bijan R. Kian, Member, Board of Directors, Export-Import Bank of the United States (Confirmed)
The Honorable Robert Hormats, Under Secretary of State for Economic, Energy and Agricultural Affairs (Confirmed)
H.E. Abdullah Alireza, Minister of Commerce (Confirmed)
4:45 P.M.

Discussion

5:00 P.M.

Closing Remarks
Introduction: Jerry Roper, President, Chicagoland Chamber of Commerce (Confirmed)
H.E. Dr. Abdulrahman Al-Saeed, Advisor, Royal Court (Confirmed)
William M. Daley, Chairman, U.S.-Saudi Business Opportunities Forum, Chicago Steering Committee, Chairman, Midwest, J.P. Morgan Chase (Confirmed)

SUSRIS Quarterly Summary: Jan-Mar 2010

Editor — Wed, 31 Mar 2010 12:25:33 +0000

Editor’s Note:

The SUSRIS Project unveiled a number of important developments during this quarter. First we have upgraded the basic SUSRIS web site with a stylish new look, a more user-friendly navigation function and expanded content including a more prominent focus on daily news items of interest. We have also converted the Web site location from a DOT ORG address to a DOT COM address. We will maintain the DOT ORG files under their original addresses for our visitors who have bookmarked their favorite articles, interviews and special reports and for the many writers who have included SUSRIS citations in book bibliographies and other original reference notes. [www.SUSRIS.com]

SUSRIS also introduced a blog in recent months that will carry more materials on Saudi-US Relations but covering a broader range of commentary and context than has been provided in the “basic” SUSRIS.com location. [www.SUSRISblog.com]

The third innovation for the SUSRIS project was the launch of SUSRIStube.com, a home for scores of videos from and about Saudi Arabia and America’s interest in the region. Among the videos are broadcast intervews and documentaries, conference proceedings, and entertainment clips that we have compiled in one place for your reference. [www.SUSRIStube.com]

Still to come is our overhauled newsletter. Be on the lookout for the new styling of the SUSRIS e-newsletter service, that will provide for you, not only an upgrade to the theme but also, more content from across the various SUSRIS project efforts.

All of this work is intended to make SUSRIS more useful for you to keep up with developments in the Saudi-US relationship. To help in this effort we ask for your help:

Feedback on how we’re doing. Just drop an email to info@SUSRIS.com with your perspective on the strengths and weaknesses of the various components of the SUSRIS Project. What do you like about the content and features? What needs more work? What have we included that was not useful? What have we missed? We invite the SUSRIS stakeholders to help shape our content and features. We also welcome “testimonials” on how valuable SUSRIS may have been to you in the past, with specific examles, if you have them, of what value you have gained from being a SUSRIS subscriber.
Content input. The SUSRIS team is always on the lookout for material to share with you. Interviews with specialists, transcripts from conferences and special events, reference material not readily available to you, and more. But try as we might to get it all we know you, the SUSRIS subscriber, are much closer to the kind of content that has made this Project a unique resource on Saudi-US relations since 2003. So please let us know if you have something interesting to share, whether it’s a suggestion for an interview subject — yourself or a colleague — to discuss a new development, or a link to an important online resource, please send us a note.
Referrals. We ask you to suggest a (free) subscription sign up to your colleagues and friends who can benefit from the perspectives, insights and news from SUSRIS.

Subscribe to SUSRIS e-newsletter service (email) - http://www.susris.com/about/subscribe/

You can also get postings from each web site via RSS Feeds:

RSS Feed Subscription – all SUSRIS.com posts to your RSS reader - http://feeds.feedburner.com/susris/feed
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Quarterly Report.

The compilation provided today is a summary of SUSRIS articles, interviews, essays, items of interest and special reports distributed between October 1 and December 31, 2009 on SUSRIS.com as well as posts from the Blog and the Video (SUSRIStube.com) sites.

We’d like to take this opportunity to thank you for helping make the SUSRIS Project a top choice for news, analyses and interviews concerning US-Saudi relations. We appreciate your continued interest in receiving SUSRIS newsletters, in recommending SUSRIS to your friends and colleagues, and in visiting the SUSRIS Project Web sites.

SUSRIS.com Production – Jan-Mar 2010
http://www.SUSRIS.com
http://www.susris.com/about/subscribe/
http://feeds.feedburner.com/susris/feed

SUSRIS Blog Posts – Jan-Mar 2010

SUSRIS Tube Posts – Jan-Mar 2010

http://wwwSUSRIStube.com
http://feeds.feedburner.com/Susristube

[These items were posted to SUSRIStube.com during this period. Some were created prior to 2010.]

Source: www.SUSRIStube.com

U.S.-Saudi Business Opportunities Forum

Editor — Sat, 09 Jan 2010 15:48:46 +0000

Editor’s Note:

The Committee for International Trade of the Council of Saudi Chambers of Commerce and Industry in Riyadh and the U.S.-Saudi Arabian Business Council in Washington have announced a major conference set for this spring in Chicago addressing bilateral business opportunities. The two-day event, presented in collaboration with the Saudi Arabian Ministry of Commerce and the U.S. Department of Commerce, will bring together distinguished speakers and panelists who will address a broad spectrum of topics in the arena of U.S.-Saudi business opportunities. SUSRIS is pleased today to bring you information about the Forum’s focus and a list of some of the invited personalities, announced by the organizers, so you can mark your calendar to attend this extraordinary event.

Please make sure you are subscribed to the SUSRIS Newsletter service so you will be updated as more information on this event becomes available.

U.S.-Saudi Business Opportunities Forum
April 28-29, 2010
Sheraton Hotel and Towers
Chicago Illinois

In light of Saudi Arabia’s growing role in global financial and economic issues and the need for a collaborative U.S.-Saudi relationship in these areas, this two-day event will provide an opportunity for senior businesspeople and high-level government officials from both countries to discuss prospects for greater economic cooperation as well as develop new and lasting business ties.

The Forum will feature Davos-style panels, keynote addresses, and concurrent breakout sessions. The event will have broad media coverage and offer successful networking opportunities with an emphasis on identifying specific commercial and investment opportunities, particularly for small and medium sized companies.

Invited Speakers

H.H. Prince Faisal bin Abdullah, Minister of Education
Ibrahim Al-Assaf, Minister of Finance*
Abdullah Alireza, Minister of Commerce and Industry*
Ali Al-Naimi, Minister of Petroleum & Minerals*
Muhammad Al-Jasser, Governor, SAMA*
Amr Dabbagh, Governor, SAGIA
Abdulrahman Al-Tuwaijri, Governor, Capital Market Authority
Adel Al-Jubeir, Saudi Arabian Ambassador to U.S.
Dr. Abdulrahman Al Saeed, Advisor, Royal Court
Gary Locke, Secretary of Commerce
Timothy Geithner, Secretary of the Treasury
Steven Chu, Secretary of Energy
Ron Kirk, U.S. Trade Representative
Karen Mills, Administrator, SBA
James Smith, U.S. Ambassador to Saudi Arabia

* Confirmed

Sessions will feature senior executives from U.S. companies currently engaged successfully in the Saudi market along with Saudi government or private-sector individuals expert in the field. Specific and immediate business opportunities will be presented offering profit-making potential for U.S. firms. Breakout topics will include:

Saudi Arabia’s Energy Sector
Finance and Investment
Information Technology
Water and Electricity
Petrochemicals and Plastics Manufacturing
Saudi Arabia’s Construction Sector
Small and Medium Sized Enterprises

SUSRIS 2009 Annual Summary

Editor — Fri, 01 Jan 2010 17:36:59 +0000

Editor’s Note:

As we turn the page to SUSRIS’ eighth year as the chronicle of developments in the relationship between the United States and Saudi Arabia we would like to thank you for your interest and support. 2009 added an important new chapter in the generations-old connections between Americans and Saudis as the two countries worked together across the spectrum of mutual interests and issues including regional security, trade and investment, economic development, countering terrorism, bolstering reform and much more.

We appreciate that you include SUSRIS among your resources to keep up with these developments. This year we have added important new insights to the inventory of articles, interviews and special reports from the regional impact of Israel’s military attacks in Gaza in January; through the introduction of a new American President, advances in reform of social, political and economic structures in the Kingdom; down through the emerging threats against American and Saudi interests emanating from Yemen from terrorism and insurgency; plus much more.

SUSRIS has been on top of coverage of developments beyond day to day reports of interest to you. In addition to the regular articles and interviews we were pleased to provide on-scene coverage of key events such as last spring’s Washington conference on US-Saudi relations sponsored by the Committee on International Trade and the New America Foundation ["U.S.-Saudi Relations in a World Without Equilibrium"]; reporting from the Group of Twenty (G-20) Summit in Pittsburgh, which included the United States and Saudi Arabia among the G-20 countries denoted as the “premier forum for international economic cooperation,” the Annual Arab-US Policymakers Conference and capping the year’s conference agenda with reporting from the Arab Global Forum.

This year SUSRIS also introduced a new venue for you to add to your information resources, the SUSRIS Blog. Through the Blog you can access reports on fast developing stories, videos, photos, tips to other online materials and much more. It also provides a venue for you to contribute your perspectives and insights on developments in the Saudi-US relationship through the comments section tied to every posting. We hope you will take a look at the SUSRIS Blog if you haven’t already and, as with every aspect of SUSRIS coverage, we hope you’ll share your feedback on how we can improve to meet your information needs. [Email:info@SUSRIS.org ]

Today we are pleased to provide a table of 2009 resources that were produced for you by SUSRIS on the many issues of importance in Saudi-U.S. relations. A quick scan of the list of special sections,articles, interviews, special reports and Blog postings will give you a snapshot of the year’s developments. Take some time to drill down into the stories that are important to you.

SUSRIS Special Sections 2009

SUSRIS 2009 Index of Articles, Interviews and Special Reports