King Arrives in Washington  [Jun 29]
“King Abdullah, Custodian of the Two Holy Mosques, arrived here Monday afternoon on a three-day official visit.  The King was received at Andrews Airbase by Secretary of Defense Robert Gates.  King Abdullah is scheduled to hold talks with President Barack Obama Tuesday at 1 P.M. at the White House and with Secretary of State Hillary Clinton at 3 P.M. at Blair House.   Tuesday’s summit at the White House will see King Abdullah stress that the Arab world wants peace and justice based on United Nations’ resolutions.  Saudi Arabia wants Obama to play an active mediating role and pressure Israel to make concessions in pursuit of peace with the Palestinians..”  [Complete Report]

Coordinated Action Must For Global Growth – King  [Jun 29]
“King Abdullah, Custodian of the Two Holy Mosques, called for financial reform through strong supervisory and control systems instead of the imposition of taxes on financial institutions and reiterated the importance of supporting developing countries particularly those affected by the financial crisis.. ..’It is important that global growth should be stronger and more balanced and sustainable through the adoption of coordinated actions by G20 countries and simultaneously taking into account the needs and circumstances of each country,’ the King said on the concluding day of the summit, which was launched in late 2008 to deal with the global financial crisis.. ..King Abdullah also highlighted the measures Saudi Arabia took in the wake of the global economic meltdown..”  [Complete Report]

Saudi Bank Deposits Rise to SR921.71 Billion in May  [Jun 29]
“A series of new financing deals concluded and in the pipeline continue to support improvement in Saudi bank private sector credit growth, which in May rose for a fifth month to its fastest pace of expansion in nine months. The latest Saudi Arabian Monetary Agency’s (SAMA’s) data support Banque Saudi Fransi’s view that momentum is building behind an economic recovery in Saudi Arabia; bank deposits increased for the first time in three months, the central bank added to its foreign asset holdings, money supply growth – while still weak – is showing signs of stabilization, and new letters of credit are being opened to accommodate greater trade flows..”  [Complete Report]

Ma’aden Board Agrees on $4.5 Billion Financing for Aloca Venture  [Jun 29]
” Saudi Arabian Mining Co., the state- controlled metals producer known as Ma’aden, said its board approved a $4.5 billion financing for the first phase of an aluminum smelter the company is developing with Alcoa Inc. in Saudi Arabia.  Ma’aden will borrow from local and foreign banks, and government funds, according to a company statement to the Saudi bourse today. The financing would represent 60 percent of the first phase of the project with a total cost of $7.5 billion, it said. The facility is to start production at the end of 2013..”  [Complete Report]

Scholars Divided Over Imam’s Fatwa on Music  [Jun 29]
“A fatwa (religious ruling) issued by Shaikh Adel Al Kalbani, a former imam of the Grand Mosque in Makkah, in which he claimed that Islam does not forbid singing and music has split Saudi scholars, Islamic thinkers and secularists.  ‘There is no clear-cut religious ruling that says singing and music are not permissible in Islam,’ Al Kalbani has said.  His fatwa shocked many of his supporters and students because he was one of the most fanatical scholars during the 1980s who strongly opposed singing and music. People are astonished by this 180 degrees shift in attitude.  A number of Saudi scholars, preachers, men of letters and writers who spoke to Gulf News were divided on the fatwa. Al Kalbani was strongly criticised specially on the internet which many of them said Al Kalbani has exited the Islamic Jamaa (group).  A majority of the Saudi scholars, whether in the official religious establishment or outside it, are unanimous in their stand against singing and music despite the fact that a huge singing opera is presented every year during the National Cultural and Heritage Festival (Janadriya)..”  [Complete Report]

Saudi Telecom May Buy Stake in India Tower  [Jun 29]
“Saudi Telecom Company (7010.SE), the Arab world’s largest telecom company by market value, may buy 10 percent to 15 percent stake in a newly created Indian telecoms tower unit, the Business Standard reported on Tuesday.  The GTL-Reliance Infratel tower unit, formed after India’s No. 2 mobile operator Reliance Communications (RLCM.BO) agreed to offload its towers to GTL Infrastructure (GTLI.BO), is likely to dilute its stake at a value of $9 billion, the paper said citing sources with direct knowledge of the developments.  Officials at Reliance Communications, GTL Infrastructure and Saudi Telecom could not be immediately reached by Reuters for comment..”  [Complete Report]

Ma’aden Board Agrees on $4.5 Billion Financing for Aloca Venture  [Jun 29]
“Saudi Arabian Mining Co., the state- controlled metals producer known as Ma’aden, said its board approved a $4.5 billion financing for the first phase of an aluminum smelter the company is developing with Alcoa Inc. in Saudi Arabia.  Ma’aden will borrow from local and foreign banks, and government funds, according to a company statement to the Saudi bourse today. The financing would represent 60 percent of the first phase of the project with a total cost of $7.5 billion, it said. The facility is to start production at the end of 2013..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Saudi King Seeks Obama Action on Mideast Peace  [Jun 28]
“Saudi Arabia’s King Abdullah will press U.S. President Barack Obama in Washington this week to take a stronger stance with Israel over stalled peace talks with the Palestinians, analysts and diplomats said.  The Saudi monarch will meet Obama on Tuesday after attending a G20 summit in Canada in the latest summit in the seven decades-old relationship between Washington and the world’s top oil exporter and a key regional ally.. ..”I think it’s time for the Saudis and all Arabs to tell the Americans that the situation cannot go on forever with the so-called peace process,” said Khaled al-Dakhil, a Saudi political analyst.  Last year Obama revived a long-standing U.S. request for Saudi Arabia to make gestures towards normalising relations with Israel as an incentive to the Jewish state to take up serious negotiations over establishing a Palestinian state.  But Saudi Arabia said it would not make concessions beyond the 2002 Arab peace plan originated by King Abdullah, which offers Israel recognition in return for returning occupied territories and allowing a Palestinian state alongside Israel..”  [Complete Report]

U.S.-Saudi Relations Ahead of Abdullah-Obama Talks  [Jun 28]
“Saudi Arabia’s King Abdullah will meet U.S. President Barack Obama in Washington on Tuesday to discuss Israeli-Palestinian peacemaking, the nuclear standoff with Iran, and economic cooperation.  Here is some background on relations between the United States and the world’s largest oil exporter. Oil has always been at the heart of the political, diplomatic and economic links that tie Riyadh to its ally Washington.. .. Washington has relied on the world’s biggest oil exporter to play a moderating role in the OPEC cartel by countering demands by countries such as Iran or Venezuela for higher prices or the use of oil as a political weapon to pressure the West.  But the strategic alliance was tested to the limit by the Sept. 11, 2001, attacks on the United States by mainly Saudi hijackers loyal to al Qaeda leader Osama bin Laden.  Many U.S. officials then took a hostile line, arguing that Saudi Arabia’s lack of political freedom and its austere Islamic Wahhabi doctrine made it a breeding ground for militants..”  [Complete Report]

No Financial Commitments Placed on KSA: Assaf  [Jun 28]
“Ibrahim Al-Assaf, Minister of Finance, said Saturday that the G20 meeting in Toronto would see ‘no financial commitments placed on the Kingdom’, Al-Watan Arabic daily reported Sunday.  Muhammad Al-Jasser, the governor of the Kingdom’s central bank SAMA, was meanwhile reported by Al-Watan as saying that Saudi Arabia was one of the ‘five most important and influential countries in the G20 group’. ‘There are no plans to buy European sovereign debt,’ Al-Jasser was quoted as saying on the sidelines of the G20 summit.  Al-Jasser also said the Kingdom will not implement proposed new bank taxes..”  [Complete Report]

Saudi Aramco Invites Bids for Wasit Gas Plant  [Jun 28]
“State oil giant Saudi Aramco has invited companies to bid for the construction of the biggest gas plant in the kingdom, industry sources said on Sunday.  After completing a crude oil capacity expansion plan last year, the world’s top oil exporter has focused on developing gas production to meet rapidly rising domestic demand.  Aramco has given no cost estimate for the Wasit plant, but industry sources said it would cost between $6 billion and $8 billion.  Twelve companies have passed Aramco’s qualification process and can bid for each of the four construction packages. The packages are for a gas unit, a cogeneration power plant, a sulfur recovery unit with utilities and the final package is for a natural gas liquids (NGL) fractionation plant.  Bidding would close by Sept. 29, the sources said and the contract would probably be awarded in January..”  [Complete Report]

Wedding Costs Force Saudis to Look For Brides Overseas  [Jun 28]
“More than 2,100 Saudi men married non-Saudi women last year, the Ministry of Justice has revealed.  The ministry said Yemenis topped the list of foreign women marrying Saudi men with 1,017 marriage contracts concluded at the Saudi Shariah courts in 2009. They are followed by Syrians (164), Pakistanis (145) and Palestinians (104).  According to official statistics, 1,944 Saudi women married foreign men last year representing 1.4 per cent of the total number of marriage contracts concluded in the courts. Foreign men who were married to Saudi women consisted of: 419 Yemenis, 407 Kuwaitis, 193 Qataris and 176 Syrians.. ..The study said the reason for this was the refusal of fathers to marry their daughters on the basis of ‘tribal incompatibility’.  It said some fathers would not allow their working daughters to marry because they want to have their salaries, a privilege which they may go in case their daughters get married.  ‘The judicial system in Saudi Arabia does not support Saudi women to marry on their own,’ it said..”  [Complete Report]

Privatizing Saudi TV Will Improve Quality: Ministry  [Jun 27]
“The Ministry of Culture and Information is keen to privatize its nine channels and radio stations because this will improve the quality of its programs, according to Eng. Saleh Al-Mughaileth, Assistant Deputy Minister of Information for Television Affairs.  He said that Saudi TV is currently facing a number of bureaucratic, fiscal and administrative challenges because it complies with government rules on advertising.  ‘I think that turning Saudi TV and radio stations into private institutions would free this sector from lots of restrictions,’.. ..Al-Mughaileth emphasized that Saudi TV cannot have the same content as private sector media companies because it is a public sector broadcaster..”  [Complete Report]

Kingdom Participates in G20 Young Entrepreneurs Summit  [Jun 27]
“The Centennial Fund established with a Royal Decree to help young Saudi men and women participated in the G20 Young Entrepreneurs Summit (YES) that concluded Tuesday in Toronto, Canada.  Entrepreneurs, academics, government officials and youth entrepreneurship organizations from G20 nations including representatives from the Centennial Fund of Saudi Arabia met in Toronto to discuss ways to harness the potential of young entrepreneurs worldwide.  The Centennial Fund was established in 2004 with a mandate to help budding Saudi entrepreneurs achieve financial independence through self-employment or start their own commercially successful businesses.  The idea of establishing the Centennial Fund was floated in 1999 and later emerged as a requirement to start programs that support young people to reduce the unemployment rate in Saudi Arabia and the development of the local economy..”  [Complete Report]

Malaysia Continues to Lure Saudi Tourists  [Jun 27]
“For the fifth year in a row, Malaysia continues to attract a large number of Saudi tourists, a senior tours and sales executive has said.  “For five years in a row Malaysia has topped the countries attracting Saudi summer vacationers. Egypt and the UAE are usually next in popularity,” Mahmud Hamid, a tours and sales executive, told Saudi Gazette.  According to tour and travel experts, people choose their destinations depending on the areas they live in..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Economic Clash of Civilizations  [Jun 26]
“The G20 Summit that gets under way here amid unprecedented security on Saturday at the Metro Toronto Convention Center is being tipped by many as an economic clash of civilizations. Signs of deep rifts over how to quickly cut national deficits instead of continuing to stimulate them were visible among the global economic leaders.. ..Custodian of the Two Holy Mosques King Abdullah is already in Toronto to represent Saudi Arabia at the summit. Saudi membership of the G20 is in direct recognition of its position as the single largest oil exporter in the world, in addition to being a country with the largest oil reserves.  King Abdullah is representing the Arab and Islamic world at the summit, seeking to hold discussions with leaders on Arab and Islamic issues, especially the Palestinian cause, the future of the Arab-Israel peace process and Iran’s nuclear files, analysts here in Toronto underlined..”  [Complete Report]

Draft Law Sets Conditions for Saudi Women to Marry Foreigners  [Jun 26]
“The proposed new law governing the marriage of Saudi nationals to foreigners will permit Saudi women to marry non-Saudis born in the Kingdom to a Saudi mother or parents both of non-Saudi nationality, on the condition that prospective husbands have legal residence, birth certificates from the department of Civil Status, and have lived in the Kingdom for at least 15 years, sources have said.. ..The sources said that breaches of the law would be penalized with fines of up to SR100,000, barring the non-Saudi spouse from entering the Kingdom, and the annulment of residency status and deportation if the spouse is already present in the country.  The new laws are expected to replace rulings on marriage to non-Saudis dating back 38 years..”  [Complete Report]

Aramco-Total JV Secures $8.5b in Financing  [Jun 26]
“Saudi Aramco Total Refining and Petrochemical Co., which is 62.5 percent owned by Saudi Aramco and 37.5 percent owned by Total SA, signed the finance documents for $8.5 billion of senior project finance facilities that have been secured for the Jubail refinery.  French oil major Total and Saudi Aramco have completed an $8.5 billion financing for their joint refinery in the Kingdom, the companies said in a statement on Friday.  ‘Finances totaling $8.5 billion were secured from multiple sources including $4.01 billion from the Public Investment Fund and Export Credit Agencies (covered and direct), and $4.49 billion from commercial financial institutions.’  ‘The senior loan facilities have a tenor of 16 years with an all in pricing of 1.85 percent (above LIBOR) for the US dollar commercial and Export Credit Agencies (ECA) covered loan facilities,’ the statement said.. ..The financing has been very well received by a diverse group of local, regional and international banks, with commitments received for over $13.5 billion..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports

Prince Naif Chair Sets Up Female Extremism Research Team [Jun 18]
“The Supervisor of the Prince Naif Chair for Intellectual Security Studies at King Saud University has said that a female team has been set up to research ‘signs of intellectual extremism in women’.  Khaled Al-Durais told Al-Watan Arabic daily on Tuesday that the move would represent a ‘practical study of a sample of families who have among them ideological extremists’ and that it came in response to ‘recent events revealing the role of women in Al-Qaeda’.  The government announced earlier this month the arrest of Saudi woman Haila Al-Suqayyer in Buraidah on charges of funding and recruiting for Al-Qaeda in the Arabian Peninsula.. ..Abdul Mun’im Al-Mushawwah, the supervisor of the ‘Al-Sakeena’ – ‘Tranquility’ – program to combat terrorism through the internet, meanwhile, has said that 80 percent of terrorist recruitment is conducted through the worldwide web and that the medium represents a ‘particular threat’ to women.  ‘Women are the most easily influenced by extremist websites’..” [Complete Report]

Saudi Regulator Shortlists Eight Groups for Airport Contract  [Jun 18]
“Saudi Arabia’s General Authority of Civil Aviation, the industry regulator, shortlisted eight groups for the contract to develop the first phase of an airport at Medina, Islam’s second holy city.  Khalid al-Khaibary, the authority’s spokesman, said in a phone interview today that the winner of the tender will develop, own and operate the airport, the cost of which is estimated at 6 billion riyals ($1.6 billion), for 25 years before transferring it to the government.  The authority designed the airport, which will replace an existing one, to handle as many as 8 million passengers a year. The aim is to attract more pilgrims to Medina.. ..The airport authority plans to spend $10 billion to $20 billion on developing and upgrading airports by 2020, with private investors set to contribute as much as $10 billion to the projects..”  [Complete Report]

Haj Pilgrims Face Accommodation Crisis  [Jun 18]
“Tens of thousands of Indian pilgrims intending to perform the Haj this year are threatened by a looming crisis as they may find no accommodation in the holy cities in Saudi Arabia when they reach there in November. Diplomatic sources said almost all available accommodation at Mecca and Medinah have been taken over for pilgrims from other countries, and the 1,16,000 pilgrims who would go through the Haj Committee of India this year would find it difficult to find convenient buildings. Normally, accommodation arrangements are done 10 months before the Haj commences. But following a Delhi High Court stay order restraining the two top office-bearers of the Haj Committee of India from functioning, all work has come to a standstill..”  [Complete Report]

Islamic Development Bank to Start Fund for Affordable Homes  [Jun 18]
“The Saudi Arabian-based Islamic Development Bank plans to start a $500 million fund to provide financing for developers of affordable houses in Muslim countries, an executive at the bank said in an interview.  Khalid al-Aboodi, chief executive officer of the Islamic Development Bank’s Islamic Corp. for the Development of the Private Sector, said the fund would be started in the third quarter and by the end of the year at the latest.  The fund will invest only in the 56 member-countries of the Islamic Development Bank. In early stages the fund will invest in 10 countries, and later it will expand into the rest of the bank’s membership, he added.  Al-Aboodi didn’t specify which countries but said they are distributed between the Middle East, Africa, and Central Asia.  ‘We have chosen the 10 countries carefully and we already identified a couple of projects that we will invest in,’..” [Complete Report]

History Rode The Horse to Victory in New Exhibit  [Jun 18]
“On the back of this noble beast, wars were lost and won, brides were delivered to royal weddings and the words of the Prophet Mohammed were spread. On its swift feet, the strong pushed past the village and created the nation.  The role of the horse in history is the focus of ‘A Gift from the Desert: The Art, History and Culture of the Arabian Horse,’ an exhibit at The Kentucky Horse Park’s International Museum of the Horse in Lexington, which runs through October 15.  ‘The horse had more impact than any other animal in the story of culture, politics and religion. It affected the cradle of civilization,’ said Sandra Olsen, co-curator of the Carnegie Museum of Natural History, and a curator of the exhibit.  Many of the 408 works in the exhibit have never been displayed outside of Saudi Arabia, or the 19 countries which contributed to the landmark study of a single animal on human history.. ..The exhibit is sponsored by The Saudi Arabian Equestrian Federation, which is headed by Prince Faissal bin Abdullah bin Mohammad and Prince Nawaf bin Faisal bin Fahad. The Saudis donated more than $2.3 million to bring the exhibit to the United States.  According to Prince Nawaf, his grandfather was the last of the knights who united the country on horseback..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Kingdom Reassures Azerbaijan of Support Over Nagorno-Karabakh Conflict  [Jun 16]
“During a visit to Azerbaijan, a delegation from the Shoura Council backed the country’s territorial integrity under the resolutions to the Nagorno-Karabakh conflict.  ‘We support all resolutions on the  Nagorno-Karabakh conflict,’ said Shoura Speaker Abdullah Al-Asheikh as the delegation arrived at Heydar Aliyev International Airport on Monday.  The Nagornoh-Karabakh conflict took place from February 1988 to May 1994 in the small enclave of Nagorno-Karabakh in southwestern Azerbaijan between the majority ethnic Armenians of Nagorno-Karabakh backed by Armenia and Azerbaijan. Turkish officials and experts will discuss the Nagorno-Karabakh negotiations process in Washington D.C. this week.  Alsheikh  added that the Kingdom’s stand on the Nagorno-Karabakh issue conforms with the international resolutions issued by the UN and the OIC which support efforts of Azerbaijan to reach a peaceful settlement..” [Complete Report]

Riyadh Upgrades Air Capabilities Amid Rising Tensions With Iran  [Jun 16]
“Saudi Arabia could bear the brunt of the fallout of a conflict between Israel and Iran if tensions over Tehran’s nuclear program come to a head. This could explain why the oil-rich kingdom, with an eye to Iran, appears to be investing in its air power, while denying reports it gave Israel permission to use its airspace for a strike on Iranian nuclear facilities.  According to media reports, Riyadh is looking to boost its already impressive air capabilities by purchasing more F-15 aircraft and updating the ones it has through a couple of multimillion-dollar contracts with Lockheed Martin Corp. and Goodrich Corp.  In particular, a widely cited article in Jane’s Defense Weekly pointed to Saudi concerns about Iran’s growing influence in the region and its ambitions to become a nuclear power.  ‘Any war with Iran will be an air force and missile war, so Saudi Arabia has to enhance its air force’s capabilities,’ Mustafa Alani, a military analyst based in Dubai, was quoted as telling Jane’s. ‘Saudi procurement strategies have been focused on acquisition of the most advanced defense technologies so that they can be interoperable with the U.S. and this is the latest evidence of that.’..” [Complete Report]

Saudi Schools Could Teach Human Rights  [Jun 16]
“Saudi Arabia may introduce the subject of human rights in its educational syllabus for male and female students at all educational levels, a senior human rights official told Gulf News.  ‘The project is in its final stages at the ministry of higher education after it has been approved by the supreme authority [the king],’ he said.  In a statement to Gulf News, Dr Zaid Al Hussain, deputy chairman of the Saudi Human Rights Commission (HRC), said the commission was trying to make human rights a subject in the educational syllabi at all general education levels in the Kingdom.. ..Addressing the rights of Saudi women, Al Hussain said King Abdullah Bin Abdul Aziz has been leading the efforts to achieve a ‘qualitative leap’ in women’s freedoms in the Kingdom. ‘Saudi women now have full rights in any government department she goes to for her affairs,’ he said..”  [Complete Report]

KSA Creating More Job Opportunities for Saudis and Expatriates  [Jun 16]
“Abdul Wahid Al-Hameed, the Saudi Deputy Minister of Labor, told G20 ministers of labor Monday night that the Kingdom held a ‘significant economic position in the world’ and that it’s handling of the global financial crisis was ‘creating jobs for its own citizens and those of other countries’.  ‘The Kingdom recruited 1,500,000 workers from abroad last year,’ Al-Hameed told the ministers’ meeting at the International Labor Conference currently in progress in Geneva.  ‘Their money transfers have contributed in strengthening the economies of their home countries.’  Remittances from Saudi Arabia’s estimated nine million mostly Asian foreign workers are soaring as the Kingdom recruits more of them for its massive development plan.  At $18.4 billion in 2008 and 15.0 billion in the first eight months of 2009, earnings sent abroad equalled four percent of Saudi gross domestic product..”  [Complete Report]

Call for Strategic Saudi-Jordan Partnership  [Jun 16]
“A senior Jordanian official has called for establishing a strategic partnership between Saudi Arabia and his country. ‘Saudi Arabia tops the list of Jordan’s trading partners,’ said Yaarub Al-Qudat, executive director of Jordan Enterprise Development Corporation.  Speaking on the sidelines of the Saudi-Jordan Business Council meeting here, he said Jordan imports Saudi products worth $530 million.  ‘It represents 15.5 percent of Jordan’s total foreign trade,’ he pointed out.  Highlighting Jordan’s investment climate, Al-Qudat said his country received foreign investment worth $2.38 billion last year compared to $1.98 billion in 2005. He estimated Saudi investment in Jordan at $1.87 billion.  Meanwhile, Muhammad Al-Audah, head of the Saudi business delegation, commended the outcome of the two-day meeting. ‘The council wanted to remove all obstacles facing investors and traders in both countries,’..”  [Complete Report]

Saudi Arabia Tenders for 990,000 Tonnes of Wheat  [Jun 16]
“Saudi Arabia’s state grains buyer is tendering to purchase 990,000 tonnes of wheat, European traders said on Wednesday.  It would be one of the largest grain tenders issued this year and closes on Friday.  Some 550,000 tonnes were for shipment to Jeddah and 440,000 tonnes to Dammam, traders said.  The wheat was sought for ten shipments between October 2010 and April 2011..”  [Complete Report]

SCTA Launches the Saudi Voyager Travel and Tourism Magazine  [Jun 16]
“The Saudi Commission for Tourism and Antiquities (SCTA) recently launched its first English language travel and tourism magazine the “Saudi Voyager.” The goal of this quarterly magazine, the newest publication of the SCTA, is to introduce tourism, travel, and heritage potentials in the Kingdom to English-speaking readers, in addition to all those interested in tourism, travel, and dimensions of culture and heritage of the Kingdom.  The first edition opens with an interview with His Royal Highness, Prince Sultan bin Salman, president of SCTA, highlighting his vision for Saudi tourism, tourism investment opportunities, and new tourism projects in the Kingdom. HRH also refers to the efforts undertaken by SCTA in the fields of tourism, antiquities, and urban heritage.  Urban Heritage is the general theme of the first edition, which coincides with the start of the First International Conference of the Architectural Heritage in Islamic countries..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

King Launches the First Saudi-Made Vehicle  [Jun 15]
“King Abdullah, Custodian of the Two Holy Mosques, has launched the first Saudi-made vehicle named Ghazal 1 during a reception at his palace in Jeddah, Monday.. ..Al-Anqari said that the team worked on the project for more than two years with the support of King Saud University.  He said Ghazal 1 proves the ability, talent and determination of the Kingdom’s youth to overcome all obstacles..”  [Complete Report]

Saudi Inflation at 1-Year Peak; May Accelerate  [Jun 15]
“Inflation in Saudi Arabia may accelerate further in the coming months, after hitting a one-year high of 5.4 percent year-on-year in May on rents and food prices, economists said on Monday.  Price pressures are seen rising again this year as oil exporters recover but inflation is expected to stay in single digits across the Gulf.  Inflation in the biggest Arab economy started picking up again after slowing to a two-and-a-half year low of 3.5 percent in October. It stood at 4.9 percent in April, which is still well below a record high of 11.1 percent seen in July 2008.  Saudi consumer prices now stand at the highest level among six Gulf oil producers..”  [Complete Report]

Jeddah Seeks to Enforce Saudi-Only Ramadan Stalls  [Jun 15]
“The municipality has announced that married women and men under the age of 30 — as well as all foreign workers — will be barred from applying for seasonal Ramadan food vendors’ permits. This year, only women who are widowed or divorced will be eligible for the permit.  ‘A (male) applicant must be a Saudi citizen, at least 30 years of age and must be committed to work in the stall or shop the license was issued for,’ said Wadea Abu Al-Hamayel, president of the municipality office in charge of downtown (Balad) affairs.. ..Abu Al-Hamayel emphasized the need for the male permit holders to be personally present at the food stalls. The women must ensure their proxy male employees are present.  Ramadan stalls are supposed to be reserved for Saudi operators only, but in the past officials have found that Saudis with permits have outsourced their operations to foreign workers..”  [Complete Report]

GDF Suez: To Build 1,730 MW Power Plant In Arabia  [Jun 15]
“French utility GDF Suez (GSZ.FR) Tuesday announced a 20-year power purchase agreement with Saudi Electricity Co (5110.SA), and said that it–along with its partners Aljomaih Holding Co of Saudi Arabia and Japan’s Sojitz Corp. (2768.TO)–will start building the 1,730 megawatt gas-fired power plant for the project. State-controlled Saudi Electricity Company will buy all of the plant’s output over a 20 year period, GDF Suez said.  The total cost of the investment will be approximately $2.1 billion and early power is expected by May 1, 2012. Full completion of the plant, situated approximately 125 kilometers west of Riaydh, is scheduled March 2013, the company said..”  [Complete Report]

Japan, Saudi Arabia Agree On Joint Crude Oil Storage  [Jun 15]
“Japan and Saudi Arabia have agreed on joint use of crude oil storage facilities in southern Japan in exchange for a preferential right to secure oil there in times of emergency, the Japanese Ministry of Economy, Trade and Industry said Monday.  ‘The Agency for Natural Resources and Energy and Saudi Aramco agreed in principle on a project, under which Saudi Aramco will utilise crude oil storage facilities in Okinawa,’ the ministry said in a press release, adding that the project is beneficial to both countries.
Qatar News Agency (QNA) reported that under the agreement, by the end of this year, Japan will begin storing 3.78 million barrels of Aramco’s crude oil.  The project is expected to help Saudi Arabia deepen ties with oil markets participants in East Asia while for Japan, it will contribute to increasing energy security by giving Japan higher priority in receiving oil supplies from the local oil storage in the event of an emergency..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Greif, Saudi Firm to Team Up For Joint Venture  [Jun 14]
“Greif Inc. said Monday it is forming a joint venture with a Saudi Arabian company to handle the production of ‘flexible’ industrial packaging.  Greif said the joint venture will include a business that makes a type of container called ‘flexible intermediate bulk containers,’ otherwise known as ‘big bags.’  The joint venture will be with the National Scientific Company Ltd., a subsidiary of Dabbagh Group Holding Co., which is a business group out of Saudi Arabia. Greif said it will manage the joint venture.  The joint venture plans to build a factory in Saudi Arabia.  Shares of Greif were unchanged in extended trading, after the announcement..”  [Complete Report]

Mecca’s Historic Traders Face Economic Hard Times [Jun 14]
“Nawaf Muhammad, a jewelry shop owner in Mecca hopes he can keep his business afloat despite tough economic times. Other traders in Saudi Arabia’s holiest city won’t be so lucky.  Store keepers in the city have cut costs, sold their shops or left altogether as pilgrims, worried by the current global crisis, spend less on gifts and souvenirs, or stay away altogether.. ..In total, the haj season brings in around SAR40 billion to the Saudi economy, or about 10% of the non-oil private sector’s contribution to gross domestic product.  ‘We’re still a few months away from haj but the signs are not too encouraging. The numbers of visitors are much less than what we used to see,’ Khaled Abu Hatem, a souvenir dealer in the historic market of Gaza Street, said.  Traders complain that the demolition of some 1,400-year-old buildings from the early Islamic period to enlarge the Grand Mosque, or make room for either new roads or high rise towers for pilgrims flocking to the city, harm their business.  The government is paying tens of thousands of riyals in compensation per square meter to the owners of demolished buildings around the Grand Mosque that encloses the Kaaba, the black shrine which devout Muslims all over the world face during prayer. In tough times, the offer is irresistible for recession-hit shop owners who want to sell out..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Islamic Ministry to Set Guidelines for Women Preachers in Saudi Arabia  [Jun 13]
“The Ministry of Islamic Affairs is working on a special mechanism for  women preachers in the kingdom.  ‘All women, who want to involve themselves in Da’awa work, should strictly abide by the rules and regulations being enacted by the ministry,’ a ministry source told Gulf News.  The move comes in the wake of reports that some women are engaged in spreading deviant ideology and extremist views under the cover of Da’awa work.  ‘It [The law] is aimed at broadening Da’awa work among women as well as ensure their active participation in combating deviant ideology. This also aims at preventing any unqualified women or those lenient to Al Qaida from wearing the mantle of a preacher,’ the source said.  Under the new mechanism, the ministries of interior and Islamic affairs will restrict Da’awa work to only those women, who secured licence and formal card from the authorities.  The move is significant in the wake of the recent revelations about Al Qaida’s plan to use Saudi women for spreading their ideology..”  [Complete report]

Gulf States Not to Back Attack Against Iran [Jun 13]
“Gulf states will not support any military action against Iran despite being wary about its nuclear programme, analysts said on Saturday.  ‘Saudi Arabia will not cooperate with Israel or any other country to attack Iran. We have always advocated a peaceful solution to the Iran crisis,’ Dr Abdul Aziz Hamad of King Saud University told  Gulf News.  Saudi and US defence officials were quoted in a report in The Times as saying that Riyadh will allow Israeli jets to use its airspace if Tel Aviv decides to attack Iranian nuclear facilities.  ‘The Saudis have given their permission for the Israelis to pass over and they will look the other way,’ the London-based newspaper said, quoting a US defence source.  ‘They have already done tests to make sure their own jets aren’t scrambled and no one gets shot down. This has all been done with the agreement of the [US] State Department,’ the report said, quoting an unnamed Saudi official.  However, experts said although Gulf states continue to be concerned about Iran’s designs, they would not support any military action against the Islamic republic..”  [Complete report]

Agency Set Up For Protection of Consumers  [Jun 13]
“Commerce and Industry Minister Abdullah Zainal Alireza announced Sunday the government’s decision to set up a high-level agency for consumer protection. He also disclosed plans to ensure an adequate supply of goods in the market in order to control price fluctuations.  ‘The Council of Ministers has decided to set up a major unit, at the level of an agency, at the Ministry of Commerce and Industry for consumer protection,’ Alireza told a seminar in Riyadh entitled ‘Consumer Protection in Saudi Arabia: Vision and Global Experience.’  He said the ministry had signed an agreement with a specialized international company to prepare a futuristic vision of the new agency with the objective of improving its efficiency and enabling it to provide the best possible services to the public..”  [Complete Report]

Saudis Act Aggressively to Denounce Terrorism  [Jun 13]
“When terrorists in the Middle East attack innocent civilians, observers in the West often ask a pained question: Where’s the outrage in the Muslim world? Why don’t Islamic religious authorities speak out more forcefully against the terrorists and their wealthy financiers?  It remains a potent issue: Terrorism has damaged the Islamic world far more than the West, and too many Muslims have been cowed and silent. But a powerful and so far largely unreported denunciation of terrorism emerged last month from Saudi Arabia’s top religious leadership, known as the Council of Senior Ulema. The Saudi fatwa is a tough condemnation of terror and of the underground network that finances it. It has impressed senior U.S. military commanders and intelligence officers, who were surprised when it came out. One sent me a translation of the fatwa, and Saudi officials provided some helpful background..”  [Complete  Report]

New Saudi Company Leases Asia Land For Rice
“As Saudi Arabian investors accelerate efforts to farm land overseas, a group of leading businessmen said on Saturday that they were launching an agricultural company to grow rice under contract with growers in Asia.  The Far East Agricultural Investment Co, an SR100m ($26.6m) investment vehicle, has already arranged leases in Cambodia, Vietnam, Pakistan and the Philippines for aromatic and long grain basmati rice, both intended to export to Saudi Arabia at market prices, said Mohammed Abdulla al-Rajhi, chairman of the new company. The first harvest of rice, about 60,000 tons, is due to arrive to Saudi Arabia early next year, he said.  ‘We will start with rice, but we will expand to cover all other strategic foods the kingdom needs,’ Mr Rajhi told Financial Times. Mr Rajhi, who also heads the Tabuk Agricultural Development Company, said that the new company would grow tropical fruits and contract land suitable for wheat and corn in central Asia..”  [Complete Report]

Saudi Tourism to Bag SR66 Billion This Year  [Jun 13]
“Saudi Arabia’s tourism industry is expected to make a revenue of SR66 billion this year, said Salah Al-Bakhit, deputy chairman of Saudi Commission for Tourism and Antiquities (SCTA).  ‘This figure is 4.76 percent more than the revenue earned in 2009,’ Al-Bakhit said in a statement that was carried by the Saudi Press Agency on Sunday.  He was optimistic about the future of the country’s tourism industry. ‘By the year 2015 its revenue would reach SR118 billion and by 2020 it would jump further to SR232 billion,’ he said.  Making a presentation on ‘Creating a tourism investment climate in the Kingdom,’ Al-Bakhit said the revenue of transport sector would increase by eight percent in 2010 to reach SR30 billion.  Restaurants and coffee shops are expected to earn a revenue of SR36 billion in 2010, up 9 percent compared to last year.  The number of jobs in the tourism sector rose from 333,125 in 2000 to 457,658 in 2009, registering an annual growth rate of 7.4 percent.  ‘The number of Saudis working in the field rose by 60 percent from 66,704 to 117,384 during the same period,’ the official said..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Saudi Arabia Denies Flight Deal Against Iran  [Jun 12]
“Gulf states will not support any military action against Iran despite being wary about its nuclear programme, analysts said on Saturday.  ‘Saudi Arabia will not cooperate with Israel or any other country to attack Iran. We have always advocated a peaceful solution to the Iran crisis,’ Dr Abdul Aziz Hamad of King Saud University told Gulf News.  Saudi and US defence officials were quoted in a report in The Times as saying that Riyadh will allow Israeli jets to use its airspace if Tel Aviv decides to attack Iranian nuclear facilities.  ‘The Saudis have given their permission for the Israelis to pass over and they will look the other way,’ the London-based newspaper said, quoting a US defence source..”  [Complete Report]

Saudis Tests Clearing Skies for Israel to Bomb Iran  [Jun 12]
“Saudi Arabia has conducted tests to stand down its air defences to allow Israeli jets to use its airspace in a bombing raid on Iran’s nuclear facilities, The Times newspaper reported on Saturday.  ‘The Saudis have given their permission for the Israelis to pass over and they will look the other way,’ a US defence source in the area told the paper.  ‘They have already done tests to make sure their own jets aren’t scrambled and no one gets shot down. This has all been done with the agreement of the (US) State Department.’.. ..A source in Saudi Arabia said the arrangement was common knowledge within defence circles in the kingdom.  ‘We all know this. We will let them [the Israelis] through and see nothing,’ the source told The Times..”  [Complete Report]

IFC’s Saudi Venture to Finance Creating 15,000 Homes [Jun 12]
“The International Finance Corp said its Saudi Home Loans Co venture is planning to spend SR7.5bn ($2bn) to build 15,000 homes for middle- income Saudis by 2020.  The venture with Saudi partners will provide 2.5 million riyals to build 5,000 homes over the next three years alone, Walid al-Murshed, Saudi country manager for the IFC, said in a telephone interview on Saturday.  ‘We have around 1 billion riyals in cash and we need to raise the remaining 1.5 billion riyals,’ he said. ‘We haven’t decided yet on how we will raise the money.’  Saudi Home Loans will probably borrow some of the funds from banks and is also considering a sale of bonds or Islamic bonds, known as sukuk, to secure the rest of the money, al- Murshed said. According to IFC estimates, Saudi Arabia needs to build 200,000 homes a year to meet demand from a population that is growing by 2.5 percent annually..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Saudi May See 8% Rise in Bank Loans in 2010  [Jun 11]
“Bank lending in Saudi Arabia, the Arab world’s biggest economy, may grow 8 percent this year, said Said al-Shaikh, chief economist at the National Commercial Bank.  In 2009 ‘despite the actions that have been taken by the monetary authority to stimulate lending, unfortunately Saudi banks were cautious and risk averse,’ al-Shaikh said in a presentation at an Arab-Turkish economic forum today in Istanbul. ‘As of 2010 we see a pick-up in lending’ with Saudi banks having ‘enough liquidity to deploy.’  National Commercial Bank, Saudi Arabia’s largest lender in terms of assets, expects the kingdom’s non-oil economy to expand 4 percent this year, helping overall economic growth to reach 3.5 percent, al-Shaikh said.  Saudi Arabia is the world’s largest oil producer and its economy depends on hydrocarbon exports for revenue and growth. Oil prices may average $75 a barrel this year from $61 in 2009, al-Shaikh said..”  [Complete Report]

Turkey’s PM Denies Reports on Saudi Arabia Fund  [Jun 11]
“Turkish prime minister said on Thursday that recent news published by the media claiming that 15 billion USD received from Saudi Arabia caused an increase in portfolio investments and deposits in Turkey were totally wrong.  Replying to questions at a press conference held after the “Sixth Meeting of the Investment Advisory Council of Turkey”, Turkish Prime Minister Recep Tayyip Erdogan commented on several news stories claiming that Turkey had overcome the crisis thanks to a substantial amount of money it received from Saudi Arabia.  ‘Several press organs claimed that Turkey received 15 billion USD from Saudi Arabia and this money caused an increase in portfolio investments and deposits. These allegations are totally wrong and unfounded. Please do not give them any credit,’ Erdogan said.  Pointing to the news stating ‘monthly increase in deposits at banks broke a record with 10 percent, amounting to 23.5 billion Turkish liras, in May 2006′, Erdogan said such deposits were the savings of residents of Turkey..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Saudi, China Scientists Decode Camel DNA  [Jun 10]
“Scientists from Saudi Arabia and China said on Wednesday that they had completed mapping the genome of the Arabian camel.  It took 20 scientists from Riyadh’s King Abdulaziz City for Science and Technology and China’s Shenzhen-based BGI – formerly the Beijing Genomics Institute – more than one year to decode the entire genetic makeup of the single-humped camel, Camelus dromedarius, the omnipresent native of the Arabian peninsula.  ‘The Arabian camel today enters a highly exclusive club of selected few mammals which have had their full genome sequenced and analysed,’ the two institutions said in a joint statement.  Sequencing and analysing the entire camel genome, which has ‘remarkable similarities’ to cattle, could lead to a better understanding of the camel’s ability to survive in the harsh desert environment, they said..”  [Complete Report]

Climate Study Request at UN Talks  [Jun 10]
“Saudi Arabia blocked a request by island nations led by Barbados for the United Nations to produce a study outlining the potential effects of 1.5 degrees Celsius (2.7 Fahrenheit) of warming on their countries and people.  The request was rejected after talks overran late yesterday and resumed today at a UN meeting in Bonn. The islands’ request was backed by Australia and the European Union’s 27 members before Saudi Arabia said it couldn’t accept the demand. It received backing from Kuwait and other oil producers. The rejection of the request ‘is on the border of alarming,’ Grenada’s envoy, Dessima Williams, told delegates today, speaking on behalf of the bloc of 43 island and low-lying nations. She said the group will table the request again at year-end talks in Cancun, Mexico.  The islands pleaded for the study to be carried out to give them access to information they can’t easily get hold of..”  [Complete Report]

Saudi Aramco to Supply Full July Oil Volumes to Asia [Jun 10]
“Saudi Arabian Oil Co., the world’s largest state-owned oil company, will supply full contractual volumes of crude to Asia for loading in July as prices remain within its preferred range.  Saudi Aramco, as the company is known, will provide 100 percent of cargoes sold under long-term contracts for an eighth month, according to a survey of three refinery officials in Japan and one in China, all of whom asked to remain unidentified, citing confidentiality agreements with the Middle East producer.  The decision to provide full exports comes after the Organization of Petroleum Exporting Countries agreed in March to leave output quotas unchanged for the fifth time since 2008. The group is exceeding targets by the equivalent of a little more than a supertanker a day.  Arab Light, the country’s biggest export grade, was at $71.96 a barrel yesterday, according to data compiled by Bloomberg. That’s up 83 percent from its low on Feb. 18, 2009.  Saudi Oil Minister Ali al-Naimi said on March 30 that oil prices in the $70 to $80 range are ‘as close to perfect as possible’ and he hopes they remain in that area..”  [Complete Report]

Finland’s Poyry Wins Saudi Nuclear Consulting Deal  [Jun 10]
“Saudi Arabia has brought in engineering and consulting company Poyry to give advice on a strategy for the use of nuclear and renewable energy, the Finnish group said on Thursday.  Philipp Elkuch from Poyry’s nuclear energy business group said over the next few months the firm would create a long-term roadmap for Saudi Arabia to diversify its energy sources.  ‘We need to look at long-term energy policy, what they should do in the next (decades) in order to change the way they produce electricity also to see what are their options, what is possible and what is not,’ Elkuch told Reuters.  He said the roadmap would include advice on, for example, what kind of regulatory bodies would be needed in the country and in the case of nuclear energy what international treaties would need to be observed..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Saudi Electric to Get Loan for $2.1 bln Plant in June  [Jun 9]
“A consortium led by Saudi Electricity (5110.SE: Quote) will sign this month a loan agreement with local and foreign banks worth up to $1.47 billion to help finance a new power plant, its chief executive said.  “Up to 70 percent of the financing required for Riyadh 11 power plant will come in loans from banks. We expect to sign the agreement for this loan within two to three weeks,” Ali Saleh al-Barrak, chief executive of the state-controlled power utility, told Reuters.  ‘The partners in the plant will contribute 30 percent of the project’s cost in equity’.  The firm said earlier on Wednesday that it has agreed to form a joint-venture with GDF Suez (GSZ.PA: Quote), Japan’s Sojitz Corp (2768.T: Quote) and the local Jomaih Holding Group to operate the plant in the power-hungry Saudi Arabia. [ID:nLDE6580GS]  Saudi Electricity will hold a 50 percent stake in the Darmaa Power Co joint-venture while GDF Suez, Sojitz and together hold the remaining half. The plant will have a 1,730 megawatts capacity..”  [Complete Report]

Historical Film Footage of Saudi Arabia Online  [Jun 9]
“Critical Past has just launched one of the world’s largest online resources for royalty-free, historic film clips and photos. Available now at www.CriticalPast.com, the collection spans thousands of hours of video and millions of still images, all of which are available for free viewing online, or consumers may download the clips for a few dollars.. ..There are more than 100 clips directly related to Saudi Arabia at the site, with the earliest ones dating from 1916. For instance, footage from 1945 shows the meeting of King Abdulaziz with US President Franklin Roosevelt aboard the USS Quincy (CA-71) at Great Bitter Lake, Suez Canal, during World War II. The clips highlight many aspects of the meeting and it is especially interesting to view Ibn Saud’s sons and the government officials who accompanied him.  There are many film clips of official Saudi visits to the United States..”  [Complete Report]

US Firms Eye Kingdom’s Health Care, Water Sectors  [Jun 9]
“US Commerce Undersecretary for International Trade Francisco J. Sanchez visited Saudi Arabia this week with a delegation of 11 American specialized companies in health care and water and waste management to explore possible investment opportunities as Saudi Arabia is increasing its focus on these sectors.  Sanchez, on the first mission abroad after his appointment by President Barack Obama in March this year, said: ‘Saudi Arabia and the US have a long history of strong friends and allies on many fronts including commerce.’  The US delegation consisted of CDM, Inc., Dame Tech Corporation, Headworks BIO, Inc., HKS, Inc., ITT Water and Wastewater, Mazzetti Nash Lipsey Burch, Numotech, Inc., Patient Education Institute, SSWIFT USA Ltd., Sylvan Source and Ted Jacob Engineering Group. The delegation visited Riyadh first. After the Jeddah visit, the delegation left for Qatar.  Sanchez said the Riyadh visit exceeded his expectations as the delegation met with the minister of health and officials of water management, other government and private sector officials to explore investment opportunities..”  [Complete Report]

Saudi Shares Rise to Week-High  [Jun 9]
“Saudi Arabian shares advanced to the highest level in more than a week led by petrochemical companies as oil rose for a second day and on speculation the past month’s drop may have been overdone.  Saudi Basic Industries Corp., the world’s largest petrochemical maker, rose to the highest since May 31. Riyad Bank, Saudi Arabia’s third-largest lender by market value, and Saudi British Bank gained after they were raised to “buy” at EFG-Hermes Holding SAE. The Saudi Tadawul All Share Index rallied for a third day, climbing 1.3 percent to 6,076.05, the highest since June 1 as of 12:44 p.m. in Riyadh.  ‘Oil is holding resiliently above $70, helping the overall situation,’ said Haissam Arabi, chief executive officer of Gulfmena Alternative Investments in Dubai. ‘Petrochemicals have especially been oversold on the back of the Europe crisis and prices are extremely attractive. Saudi is a cheap entry point right now.’..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Shoura Decision on Women Members After Summer Break  [Jun 8]
“The Shoura Council is considering amendments to regulations governing its relations with other authorities and its own work, including the participation of women in the Council.  Shoura Chairman Abdullah Aal Al-Sheikh said that there was a ‘certain vision on the issue’.  ‘The picture will be clearer after the summer holidays,’ he said.   Aal Al-Shiekh said that the Council, complying with directives from the Custodian of the Two Holy Mosques, the Crown Prince and the Second Deputy Premier, had over the past year seen ‘movement in its relations with other government bodies’..”  [Complete Report]

Saudi Aramco Has 260 Billion Barrels Oil Reserves [Jun 8]
“Saudi Arabian Oil Co., the world’s biggest state oil company, has 260 billion barrels of oil reserves, said Mohammed Al-Qahtani, the executive director of the company’s Petroleum Engineering & Development unit.  ‘To ensure availability and reliability, we have invested heavily in new developments to increase oil production capacity,’ Al-Qahtani said at a conference in Beijing today. ‘A lack of resources isn’t a constraining factor.’  Saudi Arabia is the world’s largest crude exporter, with output of 8.29 million barrels a day in May, according to data compiled by Bloomberg. The Middle Eastern kingdom had proved reserves of 264.1 billion barrels at the end of 2008, according to BP Plc’s Statistical Review of World Energy.  Saudi Aramco aims to increase natural gas output to 15.5 billion cubic feet a day by 2014 from the current 11.2 billion cubic feet a day, Al-Qahtani said..”  [Complete Report]

Saudi Mortgage Law Eagerly Awaited  [Jun 8]
“The Saudi mortgage law, expected to be enacted by the end of the year, can increase demand for housing by around 50 percent, according to a real estate expert. ‘The enactment of the mortgage law is eagerly awaited, as it can help end users tackle their financing problems,’ Ahmed Ali Al Kulli, general manager of Emaar Middle East, told Arab News on the sidelines of the three-day Cityscape Jeddah 2010, which opened with the support of Jeddah Gov. Prince Mishaal bin Majed on Monday. Marking the event is a real estate exhibition in which more than 100 local and regional property investors, developers and service providers are showcasing their current and future projects, and services, at the Jeddah Centre for Forums and Events.  Kulli said the Kingdom was one of the countries not affected by the world financial crisis and with its strong and buoyant economy held excellent prospects for the booming real estate sector..”  [Complete Report]

Deutsche Bank Subsidiary Obtains Brokerage License In Saudi Arabia  [Jun 8]
“Deutsche Securities Saudi Arabia (DSSA), a subsidiary of Deutsche Bank, has received a brokerage license from Capital Market Authority of Saudi Arabia.  The license will allow DSSA to provide various brokerage and financial services including trading in securities, custody, underwriting, arranging and advising as well as providing investment funds and client portfolio management.  DSSA will capitalize on its global investment banking platform in developing the financial solutions to Saudi based clients and international entities operating in or wishing to enter the Saudi market, according to Deutsche Bank.. ..’The establishment of DSSA is an important step that will allow Deutsche Bank to pursue more effectively one of its important objectives, contributing to the development of the Saudi capital markets and developing Saudi investment banking talent and expertise.’..”  [Complete Report]

Saudi Arabia to Join International Grains Council  [Jun 8]
“Saudi Arabia is completing the formal process to become a member of the International Grains Council, the body’s executive director said on Tuesday,  signalling the country’s future import needs.  Speaking at the IGC’s conference in London, Etsuo Kitahara, executive director of the IGC, said the formal procedure to finalise new membership should be completed in the coming weeks.  The move follows Saudi Arabia’s decision in 2008 to abandon its self-sufficiency domestic wheat growing programme due to reduced water supplies..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

 Saif Bin Zayed Arrives in Jeddah  [Jun 7]
“Shaikh Saif Bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Interior, arrived on Sunday in Jeddah, Saudi Arabia, starting an official visit to the Kingdom.  Shaikh Saif was received upon arrival at the King Abdul Aziz International Airport by Prince Nayef Bin Abdul Aziz Al Saud, Second Deputy Prime Minister and Minister of Interior, Al Asri Al Daheri, UAE ambassador to Saudi Arabia, and a number of Saudi officials.  Minister of Economy Sultan Saeed Al Mansouri, Minister of Labour Saqr Gobash and Minister of State for Foreign Affairs Dr Anwar Mohammad Gergash are accompanying Shaikh Saif on his Saudi visit..”  [Complete Report]

Prefers Oil At $70-$80  [Jun 7]
“Saudi Arabia, the world’s biggest oil exporter, still prefers a crude oil price ranging between $70 and $80 a barrel, the kingdom’s oil minister said in comments published Monday.  “I believe a price between $70 and $80 is fair,” Saudi oil minister Ali Naimi said in an interview with Petroleum Policy Intelligence, a U.K. consultancy. “Ideally $75 is the best [price] but there is no way to simply target $75.’ The interview was conducted May 18. Front-month oil futures in New York traded Monday at just over $71 a barrel.  Naimi said oil prices at $70-$80 a barrel were ‘delivering the revenue we need’ in Saudi Arabia to maintain macroeconomic stability.  Naimi said he believed the world oil market was not oversupplied, as some industry analysts believe, and said he saw no let up in Asia’s healthy economic growth nor in that region’s oil demand despite Europe’s recent financial problems.  Naimi said the kingdom’s oil output stood at around 8.05 million barrels a day, on par with the country’s production quota under the Organization of Petroleum Exporting Countries’ output allocation system. However, many industry analysts have put Saudi production higher at around 8.15 million to 8.20 million barrels a day..” [Complete Report]

Saudis Can Join International Schools [Jun 7]
“The Ministry of Education has given its approval for Saudis to be admitted to Saudi-owned international schools for foreign communities from the beginning of the next academic year.  Al-Hayat Arabic daily reported Ibrahim Al-Salim, the chairman of the National Education Committee at the Riyadh Chamber of Commerce and Industry, as saying that the ministry had issued its approval in response to numerous requests from parents who note that the schools teach their curriculums in English.  The ministry, according to Al-Salim, has approved the move only for schools with a 70-percent rating in the schools’ classification register and that are owned by Saudi nationals.  The schools formerly only admitted Saudis whose parents were employed in the diplomatic corps and with approval from the ministry, Al-Salim said, or the children of Saudis returning from abroad who were ‘not able to join Saudi schools due to their educational circumstances’..”  [Complete Report]

Lawsuit May Be Filed Against MTV  [Jun 7]
“The Jeddah Municipal Council on Sunday hinted that it is considering a lawsuit against MTV Networks, which is owned by Viacom, for airing a recent short documentary about Saudi youths in which members of the council were shown in footage without their consent.   The council said in a statement that broadcasting images of council members is ‘an aggression against the rights of others’ and said the members would demand their rights according to the regulations and laws in such cases.  The council suggested in its statement that the segment that showed the municipal council was distorted and misleading, but it did not elaborate. The segment in question pertained to a young Saudi man discussing the lack of women on the council.  Saudi lawyer Sulaiman Al-Jumaie, who defended Muhammad Abdul Jawad, the man deemed the ‘Sex Braggart’ for going on an LBC program earlier this year talking about his sexual conquests, said he would defend those youths who appeared on the MTV documentary if a case were brought against them..”  [Complete Report]
 
Rabeah, US Official Discuss Health Care Cooperation  [Jun 7]
“Dr. Abdullah Al-Rabeah, Minister of Health, held discussions in Riyadh Sunday with Francisco Sanchez, the United States’ Deputy Secretary of International Trade, to boost cooperation on health care between the Kingdom and the US.  Participants at the meeting included a US trade delegation representing some 15 companies, including those involved in construction of hospitals and health facilities, medicine producers and manufacturers of medical equipment, surgical thread, surgery tools and other industrial and pharmaceutical requirements. They also discussed cooperation on expanding the provision of health care services for citizens..” [Complete Report]

Desalination Only Solution to Avert Crisis  [Jun 7]
“WITH 24 million cubic meters per day (m3/day) of production capacity, the desalination plants in the Arab world represent nearly 50 percent of the world’s total desalination capacity. Saudi Arabia is the biggest producer of desalinated water in the Arab World. Jeddah, the commercial hub of the Kingdom, has been relying on seawater desalination for decades. Adil Bushnak, the Saudi entrepreneur who heads several companies active in water, environment and energy services, says the role of desalination as a major source of domestic water supply will greatly increase in Arab countries because of population growth, increasing urbanization, industrialization and depletion of non-renewable sources of water.  He agrees that desalination of seawater is a costly affair but asserts that it is the ‘only solution,’ especially on the coast, to meet the drinking water requirements..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

New Generation of Saudi Novelists Breaks Taboos  [Jun 6]
“In a country where cinema and theatre are banned and most forms of public expression are censored, Saudi novelists are enjoying new popularity by breaking taboos with daring novels.  Although most of the works remain banned from bookshops in this ultra-conservative Muslim kingdom, Saudi book lovers buy them from other Arab countries where they are freely sold.  One of these novels, Abdo Khal’s “She Throws Sparks” went all the way to grab the Arab world’s equivalent of the Booker Prize for this year.  The work, which won the International Prize for Arab Fiction in March, exposes the gap between abundant wealth and poverty in a Saudi city in what the judges’ citation called a ‘painfully satirical novel’.  ‘The book gives the reader a taste of the horrifying reality of the excessive world of the palace’ and ‘the agonising story of those who have become enslaved by it, drawn by its promise of glamour’, the citation said..”  [Complete Report]

Saudi to Restrict Use of ‘Sheikh’ Title  [Jun 6]
“Saudi Arabia has announced it is to restrict the use of the title of ‘Sheikh’ to religious scholars and tribal leaders only.  Abdul Rahman Al-Hazza, a spokesman for the Ministry of Culture and Information, said that the new directive was aimed in part to reduce tensions within tribes that arose because of the use of ‘Sheikh’ by people who were not entitled to use it.. ..The Ministry has alerted local newspapers and magazines to instruct them to use the title only for religious scholars and tribal leaders, the newspaper said..”  [Complete Report]

Call to Allow Female Students at Saudi’s KFUPM University  [Jun 6]
“Academics in Saudi Arabia have called for changes to the enrolment policy of King Fahd University for Petroleum and Minerals (KFUPM) to allow women students.  ‘It has a good reputation for the high academic standards of its graduates. The question which can be posed is, why does this university not open its doors to females?’ Dr Hassa Aal Al-Sheikh, dean of the Women’s College at Al-Yamamah University in Riyadh, told the Saudi Gazette.  She said male and female students could have separate sections so would not break any rules about the mingling of the sexes.. ..No official comment was reported from KFUPM, but Dr Abdul Rahman Al-Ossayyil, professor of political science at the university, said he supported the move.  ‘KFUPM is a specialised university. Therefore, the idea of establishing a women’s section at the university would be a fruitful and good initiative,’ he told the paper.  ‘The equality of Saudi men and women in education is very important,’..”  [Complete Report]

Saudi Railways Extends Haramain Bid Date  [Jun 6]
“Saudi Railways Organization (SRO) has extended the due date for the bidding of the second phase of Haramain High Speed Railway Project (HHR), connecting Makkah and Madinah via Jeddah, to July 3.  Announcing the extension, SRO president Abdulaziz Al Hokail said the decision was taken after a number of consortia requested for an extension for the period granted to them to submit their technical and financial proposals.  ‘In order to obtain more accurate, professional and integrated proposals, SRO has approved the request of consortia to extend the period until July 3,’ he added.  Al Hokail pointed out that a huge project such as the HHR requires SRO and the competitors to act carefully when making the final proposals which will be reflected positively to select the best offer submitted.  However, he added that this delay will not affect the specific date for commissioning the project which is scheduled for the end of 2012..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Qaeda Threat to Kidnap Saudi Royals to Free Female Operative  [Jun 5]
“In order to secure the release of its female operative arrested by Saudi forces, Al Qaeda has threatened to kidnap Saudi princes and ministers, a television report has said. In an audiotape played on Al Arabiya TV, an Al Qaeda regional commander reportedly threatened “major operations” against the kingdom following the arrest of Haylah Al Qassir. Qassir was believed to be responsible for recruiting women to the group as well as handling money issues, the report said. “Al Qaeda is organising cells to kidnap princes, ministers and officials including military commanders,” Saeed Al Shehri said in the audiotape. He said that ‘preacher’ Heila Al Qsayer, a widow of a Saudi Al Qaeda militant killed six years ago by the Saudi authorities, was arrested in Qassim, north of the capital, but did not specify when..”  [Complete Report]

Judges Requested to Heed Terrorism Financing Edict [Jun 5]
“King Abdullah, Custodian of the Two Holy Mosques, has ordered the Supreme Judicial Council (SJC) to work in accordance with the Board of Senior Ulema’s recent edict criminalizing the financing of terrorism.  In response to the order, a circular issued to judges across the Kingdom by SJC president Saleh Bin Humaid stated that the Board of Senior Ulema viewed the financing of terrorism as ‘one of the means and reasons for the survival and increase of terrorism’. ‘The Board ruled therefore that financing, or making attempts to finance terrorism, is prohibited and is a crime punishable by Shariah,’ the circular said.  ‘That includes persons who provide or raise money or participate in the activity in any way whatsoever. Anyone who knowingly perpetrates the crime is punishable by Shariah.’..”  [Complete Report]

Kingdom on Road to Energy Efficiency  [Jun 5]
“The first ever Public Stakeholder meeting, the initial step in the process to certify an energy efficiency project under the rules of the Kyoto Protocol’s Clean Development Mechanism (CDM), was held in Jeddah on May 31. The meeting started the process of putting the Kingdom on the road to being energy efficient.  ‘This is a relatively small project, however it’s symbolically highly significant, as is this first stakeholder meeting. This is history in the making,’ said Xenel-Balderrie’s CEO Rachad Itani who conducted the meeting. The project, which involves a switch from electric to absorption chillers for the King Road Tower building, will reduce CO2 emissions by about 10,000 tons per year, generating emission credits that could amount to $2 million over the project’s 10-year registration period.. ..Participants in this first stakeholder consultation included three representatives from Green Nation, Saudi Arabia’s first eco-friendly initiative..”  [Complete Report]

Saudi Shares Decline on Lower Confidence in Global Recovery  [Jun 5]
“Saudi Arabian shares slumped on the week’s first day, led by insurance and petrochemicals companies, as global stock markets and oil declined after a report showed the U.S. added fewer jobs than expected last month.  Al-Ahlia Cooperative Insurance, Allied Cooperative Insurance Group (ACIG) and Saudi Basic Industries Corp., the world’s largest petrochemical maker, helped the Saudi Tadawul All Share Index to slide as much as 3.06 percent and fell 1.23 percent to 5927.45 at 3:30 p.m. local time.  ‘The sell-off is coupled with global market psychology,’ said John Sfakianakis, chief economist at Banque Saudi Fransi. ‘Investors are selling off in anticipation of a further market decline which took a beating in the U.S. and Europe yesterday as sovereign concerns mounted and a weak U.S. employment market didn’t help sentiment.’  The S&P 500 Index declined 3.4 percent to 1,064.88, the lowest in four months, and the Dow Jones Industrial Average sank 324.06 points, or 3.2 percent, to 9,931.22..”  [Complete Report]

French Defence Minister Begins Two Day Visit to Saudi Arabia  [Jun 5]
“French Defence Minister Herve Morin is beginning a two-day visit to Saudi Arabia, considered an important customer for the French defence industry.  A diplomatic source says Morin was due to meet Saudi Deputy Defence Minister Prince Khaled bin Sultan in the Red Sea city of Jeddah to discuss ‘questions of regional security and cooperation on defence.’  The French minister is also expected to meet King Abdullah. In July last year, France and Saudi Arabia reached agreement on the sale to the Saudi airforce of three Airbus A330-MRTT military refuelling planes.  The two countries are also discussing the possible acquisition by the Saudi navy of helicopters and three FREMM frigates..”  [Complete Report]

Turkish FM Due to Saudi Arabia for OIC Meeting  [Jun 5]
“Turkish Foreign Minister Ahmet Davutoglu is set to depart for Saudi Arabia on Saturday to participate in an executive board meeting of the Organization of the Islamic Conference (OIC) in Jeddah.  The OIC meeting on Sunday is expected to discuss developments in the aftermath a deadly Israeli raid on a Gaza-bound aid flotilla.   The Israeli raid on the Gaza flotilla on May 31 killed nine activists — eight of them are Turkish nationals — and wounded many others..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Qaeda Threat Evidence of Failure, says Grand Mufti  [Jun  4]
“The Al-Qaeda statement posted Thursday manifests the group’s failure and weakness which has made it resort to issuing threats, said Sheikh Abdul Aziz Bin Abdullah Aal Al-Sheikh, the Kingdom’s Grand Mufti and Chairman of the Board of Senior Ulama.  The Grand Mufti was commenting on the Al-Qaeda threats to carry out kidnappings in Saudi Arabia to avenge the arrest of a female supporter.  Aal Al-Sheikh hoped that these threats will be ‘empty words’.. ..’We are a Muslim nation so we have to challenge this group and continue on our principles and values. We should never accept to be humiliated and we should not in any way sympathize with the deviant group or listen to them. It is strictly forbidden for any Muslim to cooperate with them,’..”  [Complete Report]

Abandon 1,500 Widows and Children in 19 Countries [Jun 4]
“The head of Awasir – the Society for the Welfare of Saudi Families Abroad – has said that unlicensed marriages, many conducted “in secrecy”, have left homeless or in poverty over 1,500 abandoned widows and children in 19 countries across the world.  Awasir president Tawfiq Al-Suwailam said that the society was setting up a database of information on families left in dire straits by Saudi husbands and fathers, and that a precise survey ordered by Prince Naif, Second Deputy Premier and Minister of Interior, revealed data on 575 Saudi families – comprising 1,552 widows and children left fatherless in 19 countries – eligible for help from Awasir.. ..’The countries where they are found stretch from the Philippines in the east to the United States in the west, and approximately 90 percent of them are in brotherly nations such as Yemen, Syria, Egypt, Bahrain, Jordan, Morocco, Lebanon and the Philippines,’  he said.  Many of the families, Al-Suwaliam said, had been living homeless or in poverty, in many cases due to unregulated marriages, ‘such as misyar, misfaar and ‘urfi marriages’..” [Complete Report]

Women Join Online Campaign Against Unemployment  [Jun 4]
“Unemployed Saudis are looking to the Internet to campaign against unemployment. One of the recent campaigns launched was titled ‘A Job is a Right and Not a Gift!’ Another campaign launched recently was called ‘Employ Us or We Will Travel.’  Women also started to campaign recently saying that while the idea of Saudi women working as maids is rejected, other jobs are not given to them.. ..One of the most famous campaigns launched recently and called “Her Dream,” is directed against the unemployment of women. The campaign has a website and it lists a number of jobs available in different regions. Each member can write her story about her fruitless effort to find work.. ..A group of unemployed women from this website visited local lawyer Samir Al-Khalaf to file a lawsuit against a number of government departments for their unjustified bureaucracy in employing women..” [Complete Report]

Centennial’s Stolle Lands $34 Million Saudi Deal  [Jun 4]
“Officials are expected to announce today a $34 million contract between a metro Denver equipment manufacturer and a Saudi Arabian company, aided by a U.S. government loan.  In the deal, Centennial-based Stolle Machinery will sell aluminum and steel-can-making equipment to a Jeddah firm.  Funding will be provided by a loan from the Export-Import Bank of the United States.  It marks the first time the bank has made a loan to a private Saudi company. All previous Export-Import loans in Saudi Arabia were made to the Saudi government or to semi-public entities backed by the government.  Stolle bills itself as “the leading supplier of machinery for the canmaking industry.” The company has two divisions — the Centennial operation, which makes equipment for food and beverage cans, and an Ohio unit that provides machines for can ends.  The Saudi contract ‘is good news for the Stolle workers and good news for the Colorado economy,’..” [Complete Report]

Russia Sends Arab Telecoms Satellite Into Space [Jun 4]
“Russia has successfully sent a telecommunications satellite from Saudi Arabia into space on Friday, said a spokesman for the Federal Space Agency. At 02:00 a.m. Moscow time (2200 GMT Thursday), the Arabsat-5B telecommunications satellite blasted off atop a Russian Proton-M carrier rocket from Kazakh Baikonur cosmodrome, and was expected to separate from the Briz-M booster some nine hours and 13 minutes later and enter its orbit at the geostationary orbit east of 26 degrees longitude.  As a new generation satellite, the 5420-kg Arabsat-5B was anticipated to work for 15 years, covering the area of the Middle East and North Africa..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Al Qaeda Orders Abduction of Christians, Royals in Saudi Arabia  [Jun 3]
“A leader of Al Qaeda’s wing in the Arabian Peninsula ordered the group’s ‘soldiers’ to abduct Saudi princes, cabinet ministers and Christian residents in the kingdom in a recording posted on an Islamist website.  Al Qaeda has in previous years targeted Western nationals in Saudi Arabia in a campaign to destabilize the world’s top oil exporting country’s U.S.-allied government led by the Al Saud family.  ‘Form cells to abduct Christians, Al Saud princes, seionr officials including ministers and officer,’ the speaker identified as Saeed al-Shehri said in the Arabic-language recording posted on a website that often carries Al Qaeda statements. The abductions are meant to force the release of Islamists held in the kingdom, he said..”  [Complete Report]

OIC Calls Emergency Meeting to Discuss Israeli Attack  [Jun 3]
“The Organization of the Islamic Conference (OIC) has called an extraordinary meeting of the member states of its executive committee in Jeddah on Sunday.  The call follows a request from a number of OIC member states to hold an urgent meeting at the level of foreign ministers to review the tragic developments following the heinous Israeli attack on Gaza aid flotilla.  The executive committee is comprised of representatives of Tajikistan, Syria, Kazakhstan, Malaysia, Senegal, Egypt, Saudi Arabia and Palestine..”  [Complete Report]

Website Supervisors Held for Links to Terror Outfits  [Jun 3]
“The Ministry of Interior has arrested a group of website supervisors who have been found to have connections with terrorist organizations.  This is according to Dr. Abdul Rahman Al-Hadlaq, Director General of the General Administration for Intellectual Security at the Ministry of Interior. He said all of them will stand trial.. ..Dr. Eisa Al-Ghaith, a judge at the Ministry of Justice, said that these sites instigate opposition against certain individuals and institutions; publish articles accusing others of infidelity; and support terrorist acts.  He said these websites edit the news to create sedition in the country and also promotes corruption and attacks on others. He classified these websites into three kinds: e-newspapers, chat forums and general websites.  He said the supervisors of these websites violate the rules of the Islamic Shariah..”  [Complete Report]

Attack on Flotilla Mars US Team’s Meeting at JCCI  [Jun 3]
“The Israeli raid on the flotilla taking aid to Gaza was a hot topic at a meeting between the delegation of US Congress Chiefs of Staff and members of the Saudi business community at the Jeddah Chamber of Commerce and Industry (JCCI) Wednesday.  Attempts by the US delegation not to discuss the issue were in vain as Saudi businessmen and businesswomen insisted that the continuous US support of the Israeli aggression in the region would have a direct impact on the sales of American products.  Saudi businesspersons said the priority for them is to have peace in the region which will allow all countries to prosper economically.. ..’We understand America’s commitment to Israel and that’s fine. It is a decision that America takes. But at the same time we don’t understand the blind US support for Israel at the expense of its own values, not to mention at the expense of US interests in the region.’..”  [Complete Report]

Saudi Arabia to Allow Ownership in New City [Jun 3]
“King Abdullah Economic City, one of four metropolitan areas under construction in Saudi Arabia, will be the first place where foreigners are allowed to own property as the kingdom seeks new sources of investment.  The city, known as KAEC and named after the head of state, is being built by Emaar Economic City, a company controlled by the Saudi Arabian government and Dubai’s biggest property developer. When completed in 2025, the $27 billion project will cover about the same area as Brussels.  ‘This is the first freehold city in Saudi Arabia,’ Fahd Al-Rasheed, Emaar Economic City’s chief executive officer, said in an interview. ‘A lot of people want to invest in the Saudi market and see it as a frontier for real estate investment because of the population explosion here.’  KAEC, about an hour’s drive from Jeddah, is designed to house about 2 million people and generate 1 million jobs. The city is part of a $400 billion plan announced by the government in 2008 to invest in Saudi Arabia’s infrastructure and make the country less dependent on the oil industry. Saudi Arabia’s population has more than doubled since 1986 to about 25.5 million..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Shoura Council Strongly Condemns Israeli Attack  [Jun 2]
“The Shoura Council has strongly condemned the brutal Israeli  attack on a humanitarian flotilla that led to the deaths of at least 10 people on Monday.  At a meeting chaired by the council’s Vice President Bandar bin Mohammed Hajjar on Tuesday, members attacked the actions of Israel’s troops after they boarded the Freedom Flotilla, which was transporting aid to Gaza.  The flotilla was attacked in international waters, 65 km off the Gaza coast. Hundreds of activists were transported to Israeli detention centers and hospitals.  Denouncing the attack, Shoura members described the violence as a flagrant violation of international norms and warned that it would worsen the conflict in the region.  The house also called on the global community to protect the people of Palestine from similar acts and put pressure on Israel to lift the siege on the Gaza Strip..”  [Complete Report]

Gulf Oil Unit Plans to Raise $1 Billion in Saudi IPO  [Jun 2]
“Gulf Oil Corp.’s Saudi Arabian unit plans to raise as much as $1 billion selling shares in the local market at the end of the year, Chairman Sanjay Hinduja said at a press conference in Mumbai today.  India’s Hinduja Group, controlled by billionaire brothers Srichand and Gopichand Hinduja owns Ashok Leyland Ltd., India’s second-biggest truckmaker, lender IndusInd Bank Ltd. and chemicals maker Gulf Oil. The group last month agreed to buy KBC Groep NV’s private bank for 1.35 billion euros ($1.69 billion) to expand its wealth-management business in Europe.  Saudi British Bank, 40 percent owned by HSBC Holdings Plc, will advise Gulf Oil on the unit’s initial public offer, Sanjay Hinduja said. Gulf Oil and its partner in the Saudi unit Dabbagh Group will together dilute a 30 percent stake in the IPO, he said..”  [Complete  Report]

KACST, Oxford Join Hands for Research  [Jun 2]
“King Abdulaziz City for Science and Technology (KACST) signed on Monday an agreement of cooperation with Oxford University to establish a joint research center in the field of petrochemicals.  The research center, which will be called KOPRC, will implement applied research projects in the oil refining and petrochemical industries, said KASCT President Muhammad Ibrahim Al-Suwail. Al-Suwail and Phil Clare, director of research services for Oxford University, signed the agreement.  ‘KOPRC will mainly focus on five research projects, including the development of catalysts for oil refining and petrochemical operations.  They will develop solid acidic catalysts for the oil refining process, solutions to help turn carbon dioxide into hydrocarbons, catalysts for polymerization operations and olefins besides developing catalysts for manufacturing clean fuel,’ added Al-Suwail.  The center will organize seminars, workshops and conferences as well as host researchers from both countries..”  [Complete Report]

Saudi Arabia Sends All-Female Group to Singapore Universities  [Jun 2]
“For the first time, Saudi Arabia has sent an all-female group to attend various degree and masters programmes at Singapore’s National University of Singapore and Nanyang Technological University.  The 48 girls are here under the King Abdullah Scholarship Programme.  The Kingdom said besides Singapore’s high education standards, the students are also here because of the Republic’s safe living condition and multi-cultural environment.. ..Saudi Arabia Ambassador to Singapore, Dr Jamil M Merdad, said: ‘Singapore is the preferred place for our female students for so many reasons. One is the social values here. When they come to Singapore, they are very much at home – their ability to walk around safely in the streets.’..”  [Complete Report]

SUSRIS Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Saudi Youths in Trouble Over MTV Reality Show  [Jun 1]
“Saudi Arabia’s religious police are trying to bring to court three Saudi youths for challenging the kingdom’s austere lifestyle on an MTV reality show – a new test of the country’s stated commitment to reform.  Divisions have emerged within the influential religious establishment, including the religious police body itself, over long-held restrictions that have been enforced in the world’s leading oil producing country and key US ally.  An official at the Jeddah court confirmed the filing of the lawsuit for the crime of “openly declaring sin” and said it would take at least one week for the Islamic sharia court to decide whether to proceed with a trial or dismiss the case.. ..Aired last month, MTV’s “True Life – Resist the Power, Saudi Arabia” followed how three Saudi youths and a heavy metal band cope with the strictures they encounter in their daily life in Jeddah, seen as the kingdom’s most liberal city..”  [Complete Report]

Saudi Fund Fuelling Terror in Afghanistan  [Jun 1]
“Millions of dollars from Saudi donors routed to Afghanistan through Pakistan’s tribal areas, have fuelled terrorism in the country during the last four years, Afghan financial intelligence unit has claimed.  The funds, totalling more than 920 million pounds, entered from Pakistan where they are converted into rupees or dollars, the favoured currency for terrorist operations, the Afghan financial intelligence unit FinTraca has claimed.. ..Although Saudi Arabia – the home of the bin Laden family – is considered a key ally in the war against terror, a US government report last year said that private Saudi backers were the chief source of finance for the Taleban..”  [Complete Report]

Kingdom’s Appointment as UN Body Head Noted  [Jun 1]
“The Council of Ministers has, at its weekly meeting chaired by Custodian of the Two Holy Mosques King Abdullah, expressed its satisfaction that the Kingdom has been appointed to head the consultative committee for the United Nations Relief and Works Agency for Palestine Refugees starting from July.  Saudi Arabia is the first Arab country to occupy the position.. ..The king also briefed ministers on the message he received from Spain’s King Juan Carlos I and discussions with US Homeland Security Secretary Janet Napolitano..”  [Complete Report]

Suit Filed Against Co-education in Primary School  [Jun 1]
” An Islamic scholar has filed a lawsuit against the Ministry of Education for allowing female teachers in girls schools to teach male pupils in the first, second and third elementary years.  Sheikh Youssef Al-Ahmad, a lecturer at Imam Muhammad bin Saud Islamic University, has filed the lawsuit with the Court of Appeals in Riyadh to stop female teachers from teaching boys.  He has also called on the court to process the lawsuit according to the Kingdom’s regulations and to hold those responsible to account.  Al-Ahmad, a lecturer in Fiqh at the university’s Shariah College, said he filed the complaint after Noura Al-Faiz, deputy minister of education, allowed female teachers in private girls schools to teach boys in the first three years of elementary education. Sources said Al-Ahmad had written letters to both of the Kingdom’s deputy ministers of education and to the president of the Control and Investigation Board that included “religious advice” about the need to stop female teachers from teaching male students..”  [Complete Report]

Arabian American and AMAK Announce $88 Million in Financing for Saudi Mine Development  [Jun 1]
“Arabian American Development Co. (Nasdaq: ARSD) today announced that the Al Masane Al Kobra Mining Company (AMAK) has received a letter of commitment and term sheet for a 330 Million Saudi Riyal ($88.0 million USD) loan facility from the Saudi Industrial Development Fund (SIDF).  The loan will be used for completion of the site development including underground work, the purchase of machinery, equipment, and vehicles, working capital and contingency funds for the construction of the mine in the Al-Masane area of Saudi Arabia.  The SIDF has asked for personal guarantees from the shareholders, which includes a corporate guarantee from Arabian American as a condition of closing.  Funding of draws on the loan must be completed by the end of 2011, and the seven year, semi-annual amortization would begin approximately two years later.  A further condition states that AMAK must negotiate with the Ministry of Finance to extend the $11 million dollar note which was transferred from Arabian American to a long term arrangement..”  [Complete Report]

King Abdulaziz University Opens the First Institute of Tourism in Saudi Arabia  [Jun 1]
“Under the patronage of His Royal Highness, Prince Mishaal bin Majed bin Abdulaziz, Governor of Jeddah, King Abdulaziz University launched its Institute of Tourism.  Classes in the Institute of Tourism started in the second semester of this year, where a group of academics and instructors from top hotels operating in Saudi Arabia provides academic and practical lessons to 14 students.  Study at the Institute focuses on the practical side so that graduates will achieve academic excellence and professional competence necessary to land them in high-paying jobs in the sector.  After a tour of the Institute’s premises, Prince Mishaal was impressed about the facilities, saying: ‘Our confidence in the Saudi youths is significant.’..”  [Complete Report]