ARABIALINK Daily News – SAUDI ARABIA – Excerpts from International Media Reports
“The Kingdom is to consider providing an endowment for a nongovernmental organization that looks after handicapped children in Sri Lanka. ‘The Supreme Council for Islamic Affairs has agreed to consider a proposal for an income-generating project in aid of the disabled children at our center,’ said Jiffry Haniffa, who is heading a delegation from the Islamic Center for the Physically Handicapped (ICPH) in Sri Lanka.. ..Haniffa said the total cost of the proposed project — a medicare complex — is $200,000. ‘It will offer medical services free of charge to all 250 inmates at the center, while its teachers will be able to enjoy services at discounted rates. The income from this project could meet half of the ICPH’s annual budget,’..” [Complete Report]
CPA Gains Membership in International Body [Jul 28]
“The Saudi Consumer Protection Association (CPA) recently became the newest member of Consumer International (CI), a global federation of consumer groups, after its assembly accepted a CPA application to join. ‘We feel that it is a positive action that will help us get consultation from CI and its other members to better do our jobs and provide local consumers with the best service and awareness possible,’ said CPA President Dr. Mohammed Al-Hamad. Al-Hamad also said CI’s expertise is another impressive aspect of the organization, which is now in its 50th year of operation. Commenting on other initiatives that CPA is currently involved in, Al-Hamad explained that cracking down on counterfeit products is a top priority, in which he is currently holding several meetings with local authorities to counteract..” [Complete Report]
King Visits Egypt Today on the First Leg of His 4-Nation Tour [Jul 28]
“Egyptian Prime Minister Ahmad Nazif has welcomed the visit of King Abdullah, Custodian of the Two Holy Mosques, to Egypt. He described meetings between King Abdullah and Egyptian President Hosni Mubarak as ‘always producing benefits for the people of their countries’. ‘The level of coordination and understanding between the two countries is reflected in the King’s wish to detail to the Egyptian president talks he held during his tour of Europe,’ Nazif said. ‘Coordination between them is continuous, and addresses regional issues, developments in Darfur and Sudan in general, developments in Somalia and Iraq, the situation in Palestine and other important issues.’..” [Complete Report]
12% Annual Growth Expected in Saudi Franchising Market [Jul 28]
“Saudi Arabia’s efforts to diversify its economy are paying off as the country’s franchising industry, estimated to be worth SR3.75 billion, is expected to grow at an annual rate of 12 percent. The robust growth forecast underlines the increasing economic contributions of the franchising industry in Saudi Arabia and its strong potential to become the most popular non-oil business sector in the region, said Diya Abdo, Project Manager, Saudi International Franchise Exhibition and Conference (IFEC 2010), Riyadh Exhibition Company (REC). The IFEC 2010, the third international exhibition and conference for the franchise industry in Saudi Arabia, sought to complement the surge in franchising activity by providing a platform for international franchisers, entrepreneurs, agents, business owners and investors from the Middle East and other regions to discuss the most promising franchising opportunities and to address important issues..” [Complete Report]
Saudi Aramco Awards Yanbu Refinery Works to Tecnicas, Daelim Industrial [Jul 28]
“Saudi Aramco, the biggest state- owned oil company, awarded contracts at the planned 400,000 barrel-a-day Yanbu refinery in Saudi Arabia to companies including Tecnicas Reunidas SA and Daelim Industrial Co. Tecnicas Reunidas will do work on the coker unit, Daelim will build the gasoline and hydrocracker units and SK Engineering & Construction Co. will work on the crude unit, Saudi Arabia’s state oil company said today in a statement. Tecnicas said separately it got $700 million contract. ‘Signing these contracts represents a critical milestone,’ Motassim Al-Ma’ashouq, Aramco’s executive director of new business development, said in the statement. Aramco is boosting refining capacity to meet demand at home even as returns from processing crude oil have narrowed, Chief Executive Officer Khalid al-Falih said in January. The plant will cost $10 billion to $12 billion, John Sfakianakis, chief economist at Riyadh-based Banque Saudi Fransi said in April..” [Complete Report]
