ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/
A new video released on YouTube shows Saudi Arabia’s King Abdullah walking through a shopping mall, eating french fries from American fast food chain McDonald’s. The footage also shows a younger man approach the king and pay his respects, and several of the King’s advisors tasting some fries.
The History And Politics Behind Coke’s Saudi Investment: HUFFINGTON POST
To many, Coca Cola’s decision to invest $980 million in buying a stake in leading Saudi beverage manufacturer, Aujan Industries, may simply seem as an attempt to catch up with arch-rival, Pepsi, which for long has been the leader in the Middle East. The agreement was announced earlier this week and the transaction is set to close in the first half of 2012; once it does, Coca-Cola will acquire a 50 per cent stake in the entity that holds the rights to Aujan’s brands and a 49 per cent stake in Aujan’s bottling and Distribution Company, according to Reuters. The Middle East currently contributes a small fraction of Coke’s overall sales; many observers relate this to an Arab League-imposed boycott which lasted from August 1968 to May 1991.
The position was previously held by HE Abdullah Alireza since 2008, but the announcement made this week appointed HE Dr. Tawfiq Al-Rabiah to the position. Al-Rabiah was former Deputy Ministry for Industrial Affairs and Director General, Saudi Industrial Property Authority (Modon), but assumes the role of Minister of Commerce and Industry effective immediately.
Saudi Real Estate Among World Elite In 2012, Says Damac: ARABIAN BUSINESS
Andy Sambidge | 12/16/11
Saudi Arabia is forecast to become one of the best performing real estate markets in the world in 2012, according to Dubai developer Damac Properties.
Saudi Arabia’s gas production will reach 15 billion cubic feet per day by 2016 compared to 7.7 billion cubic feet per day in 2002, a Saudi official said in Dubai. “The Kingdom will also have the largest network of refineries in the Middle East by 2016 with a refining capacity of 3.5 million bpd,” Prince Faisal bin Turki, advisor at the Ministry of Petroleum and Minerals, said.
Riyadh Sets Stage For Key GCC Summit: ARAB NEWS
Hectic preparations are under way in the capital for the 32nd GCC’s Summit that will take place on Dec. 19 and 20.
Saudi Arabia’s petrochemical industry is expected to attract US$150 billion in total cumulative investments by 2016, said Prince Faisal bin Turki, an adviser to the Kingdom’s petroleum and minerals ministry.
Moming Zhou | 12/16/11
Crude oil tumbled to the lowest level in six weeks as industrial production declined for the first time since April in the U.S., the world’s largest oil- consuming country.
Afghan authorities on Thursday named Saudi Arabia or Turkey as the best places to set up a Taliban liaison office abroad to enable peace talks to end a devastating 10-year insurgency.
The Obama administration has added a senior member of a Lebanese militant group to the list of global terrorists subject to U.S. sanctions.
The State Department says Saudi citizen Saleh al-Qarawi is a high-ranking operative for the Abdullah Azzam Brigades in Lebanon.
Rosenbauer Wins $319m Saudi Fire Equipment Deal: ARABIANBUSINESS
Austria-based Rosenbauer International said on Friday it had won a 245.3m ($319.7m) euro order from Saudi Arabia’s Ministry of Interior to supply fire engineering equipment.
IRAN: TEHRAN ‘HIJACKED’ US DRONE, SAYS IRANIAN ENGINEER
In an exclusive interview, an engineer working to unlock the secrets of the captured RQ-170 Sentinel says they exploited a known vulnerability and tricked the US drone into landing in Iran, Scott Peterson (CSM) reports. IRAN WARNS US: Iran escalated its confrontation with the United States on Thursday over the captured American spy drone launched from Afghanistan, warning the Afghan government to order a halt to such surveillance flights, NYT reports. OBAMA CAMPAIGN TOUTS END OF WAR: President Obama himself has been relatively low-key about the end of the Iraq War. His campaign has not been so reticent, USA Today reports.
RUSSIA: AIRPORT AUTHORITIES SEIZE RADIOACTIVE MATERIAL BOUND FOR TEHRAN
Russia’s customs agency says it has seized radioactive metal from the luggage of an Iranian passenger bound for Tehran. A spokeswoman, Kseniya Grebenkina, said the luggage had been seized some time ago, but could not specify when. The Iranian had not been detained, she said, the Guardian reports.
SYRIA: RUSSIA CIRCULATES SURPRISE UN RESOLUTION
Russia has circulated a UN Security Council resolution aimed at resolving the crisis in Syria, in a move that surprised Western nations. The draft condemns the violence by both Syria’s government and the opposition, but does not mention sanctions. Western nations said the proposal was not tough enough but that they were prepared to work on the document, BBC reports. TROOPS FIRE ON PROTESTERS: Syrian security forces opened fire on anti-government protesters after Friday prayers at several locations around the country, while the army sent reinforcements into a southern area where military defectors recently launched deadly attacks on regime troops, AP reports.
IRAQ: IN BAGHDAD, AN UNEASY MOMENT OF CLOSURE
Almost nine years after the first American tanks began massing on the Iraq border, the Pentagon declared an official end to its mission here, closing a troubled conflict that helped reshape American politics and left a bitter legacy of anti-American sentiment across the Muslim world, NYT reports.
BAHRAIN: IMPRISONED ACTIVIST’S DAUGHTER DETAINED IN BAHRAIN
A daughter of a prominent Bahraini activist was detained Friday during an anti-government demonstration in the Gulf kingdom, which has been roiled by months of protests and crackdowns, a rights group said, CBS News reports.
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