ARABIALINK Daily News – Excerpts from International Media Reports /Provided as a service from the Saudi-US Trade Group, Washington, DC/
US, Saudis Demand Syria Halt Crackdown: AFP
8/13/11
US President Barack Obama demanded Damascus “immediately” halt its crackdown on protesters, as activists said Syrian troops killed at least three people in raids on Latakia and other towns. ‘SHARED, DEEP CONCERNS:’ “President Obama spoke by phone Saturday with Saudi Arabia’s King Abdullah and British Prime Minister David Cameron about Syria, and the leaders again called on the Syrian regime to end the “brutal campaign of violence” against its own people, David Savage (LAT) reports. “The White House said the president and the Saudi king “expressed their shared, deep concerns” about the violence in Syria and said it must “end immediately.”
Saudi Family Major Gift to Mayo Clinic is Emblem of Generosity: SUSRIS
8/15/11
The world renowned Mayo Clinic will receive a major financial gift from Mr. Tarek Obaid of Saudi Arabia in the name of his family to support a new medical center. The Clinic, the first and largest integrated not-for-profit medical group practice in the world, will receive a $10 million donation from the Obaid family, according to a Clinic press release last week. Mr. Obaid is making the gift in honor of his parents
Mideast Upheavals Open Doors for Saudi Strategies: ASSOCIATED PRESS
Brian Murphy | 8/13/11
“The more decisive policies by King Abdullah were on full display this week as he took the lead among Arab nations by yanking his ambassador from Syria and demanding an “end to the killing machine” of President Bashar Assad’s regime in a startlingly strong condemnation of Damascus’ bloody suppression of protesters. “It was the first time the predominantly Sunni kingdom has weighed in publicly on Syria’s upheaval — and demonstrated the Saudis’ willingness to shift gears dramatically as needed.”
Where do the Saudis Stand?: SUSRIS
Patrick W. Ryan | 8/12/11
The assessment of where Saudi Arabia fits into the Arab Spring began with discussions about the Kingdom’s own vulnerabilities to the turmoil that was sweeping the region after unrest led to the downfall of regimes in Tunisia and Egypt early in the year.
Mideast Economy Hoping For Ramadan Rebound: TRADE ARABIA
8/16/11
“Businesses in the Middle East are hoping that Ramadan will be able to shake off any dip in spending due to the social unrest seen in parts of the region.”
Rents, Food and Gold Prices Boost Saudi Inflation: EMIRATES 24/7
8/17/11
“High rents allied with rising food and gold prices to push up inflation in Saudi Arabia in July although the increase is not a source of concern for the Gulf Kingdom this year, according to a local investment firm. Year-on-year inflation rose to 4.9 percent in July from 4.7 percent in June and food, rents and higher prices of jewelry and those for holiday accommodation were the main cause of the rise, though there were some notable falls, the Riyadh-based Jadwa Investment said.”
Saudi Arabia Is OPEC’s Real Winner: FINANCIAL TIMES
Javier Blas | 8/16/11
Defeated; humiliated; overpowered… Saudi Arabia appeared to come out from the last meeting of the OPEC oil cartel as the loser after it failed to get backing for its proposal to boost output, with its opponent Iran victorious. Yet two months later Riyadh is proving that first impressions are often misleading. If someone was defeated, it clearly was Tehran.
Saudi Construction Contracts Hit $22.4bn in H1: ARABIAN BUSINESS
Andy Sambidge | 8/16/11
“Construction contracts totaling SR84.2bn ($22.4bn) were awarded in Saudi Arabia in the first half of 2011.” SAUDI CHEAPEST FOR CONSTRUCTION IN MIDDLE EAST: “Saudi Arabia emerges as the cheapest place to build across the Middle East…The figures indicated that it was almost half as expensive to build in Saudi Arabia as in Bahrain,” the Saudi Gazette reports.
Saudi Arabia Buys 660,000 Tons of U.S., European Hard Wheat: BLOOMBERG
Glen Carey | 8/14/11
Saudi Arabia bought 660,000 metric tons of hard wheat from the U.S.,Europe, Australia and Canada for delivery from November to February, the Grain Silos and Flour Mills Organization said.
23% DROP IN FOOD IMPORTS IN H1 2011. (ArabianBusiness.com)
Saudi Building Sector Rises 156%: GULF NEWS
Saifur Rahman | 8/19/11
“Construction contracts awarded in Saudi Arabia during the first half of 2011 jumped 156 per cent to 84.2 billion riyals (Dh82.43 billion), up from 33 billion riyals in the corresponding period last year.”
Gulf States Get the Forecast Axe: FINANCIAL TIMES
Camilla Hall | 8/15/11
“Analysts have been split over how global economic developments will affect the Gulf partly due to the lack of certainty over future oil prices. Some analysts have said the region may be shielded as economic growth will be driven by domestic spending, but of course those funds rely on healthy oil prices.” RECESSION COULD TIP U.S. OIL USE INTO PERMANENT DECLINE: Joshua Schneyer (Reuters) for Al Arabiya writes, “As a United States economic rebound stalls and threatens to spiral into recession, oil demand in the world’s top consumer may be slipping into an irreversible decline.”
Saudi Inflation Rises To 4.9% in July: ARAB NEWS
8/15/11
“Saudi Arabia’s annual inflation edged up to 4.9 percent in July, from 4.7 percent in June, on rising prices of food, products and services, while monthly inflation was the fastest since early 2008.”
Abu Dhabi Edges Out Saudi as Least Risky Sovereign: ARABIAN BUSINESS
Ed Attwood | 8/15/11
“Abu Dhabi has improved on its position as the least risky sovereign in the MENA region, although Saudi Arabia and Qatar are close behind.”
Saudi Arabia To Have 10-Days Of Eid Al Fitr Holidays: EMIRATES 24/7
8/15/11
Saudi Arabia’s civil servants will be given a 10-day holiday to mark the end of the fasting month of Ramadan and the start of Eid Al Fitr, newspapers in the Gulf Kingdom reported on Monday.
Number Of IPOs In The Gulf Region On Decline: THE NATIONAL
Hadeel al Sayegh | 8/19/11
“Gulf initial public offerings (IPOs) have fallen by half in the first six months of this year as civil unrest and a global economic slowdown discouraged investors and delayed transactions.”
Arab Spring Raises Hopes Of Rebirth For Mideast Science: REUTERS
Tom Heneghan and Sami Aboudi | 8/18/11
“The poor state of science in the Middle East, especially in Arab countries, has been widely documented. Only about 0.2 percent of gross domestic product in the region is spent on scientific research, compared to 1.2 percent worldwide. Hardly any Arab universities make it into lists of the world’s 500 top universities. But Arab scientists say the first steps toward change have been taken.”
Turkey And Saudi Arabia: The Buildup To Syria: TODAY’S ZAMAN
Sultan Sooud Al Qassemi | 8/18/11
“Turkey and Saudi Arabia sit on opposite sides of the spectrum, the first a Sunni state defined by its secularism, the latter a Sunni state defined by its sect, and yet the countries have never been closer. This closeness is due to a series of steps that both states have taken in each other’s direction in the past few years.”
