ARABIALINK Daily News – SAUDI ARABIA – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]
Saudi Central Bank Expects Inflation to Stay Subdued [Jun 27]
“Saudi Arabia’s central bank expects no acute inflationary pressures in the second quarter, according to a report released on its website. Inflation slowed to a quarterly 1.1 percent in the January- March period, from 1.5 percent in the final three months of 2009, the bank said. The slowdown came as price increases for imports and rents subsided, it said. Inflation is expected to remain at a similar level in the second quarter, led by rents, fuel, water and food and beverages, the report 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]
