o NEWS
· REGION
- GCC MINISTERIAL COUNCIL EXTRAORDINARY
SESSION
- MIDEAST LEADERS WARN AGAINST HASTY US
RETALIATION
- BAHRAIN, OMAN LEADERS MEET
- BRITISH WARPLANES STRIKE SOUTHERN
IRAQ
- ARAB FOREIGN MINISTERS IN CAIRO
- OIL TANKER FIRE IN GULF
- BRITISH TROOPS IN GULF COULD BE
REDEPLOYED
- TORNADOS PREPARE FOR ARABIAN GULF
EXERCISE
- THE MIDEAST IS ALSO CHANGED
- IRAQ HAILS ATTACK ON US
- U.S. MILITARY ON TOP ALERT IN GULF
- U.S. MILITARY IMPOSES NEWS BLACKOUT
IN GULF
· BAHRAIN
- ATTACK ON U.S. 'PUTS ISLAM AT
CROSSROADS'
· KUWAIT
- KUWAIT SAYS MULLING MILITARY SUPPORT
FOR U.S.
- FOREIGN POLICY ROOTED IN OUR
PRINCIPLES, FORMIN AL-SABAH
· OMAN
- OMAN SAYS WAR GAMES WITH UK STILL ON
· SAUDI
ARABIA
- SAUDI KING PROMISES US FULL SUPPORT
- U.S. SEEKS LARGER SAUDI COOPERATION
- PRINCE SAUD VISITS WASHINGTON
- COUNCIL OF MINISTERS MEETING
- FOREIGN MINISTER CALLS FOR
INTERNATIONAL ACTION AGAINST TERRORISM
- SAUDI ARABIA TO HELP FIGHT TERRORISM
- SAUDIS CAST DOUBT OVER FBI LIST OF
HIJACKERS
- SAUDI ALARM AT IDENTITY OF HIJACKERS
- PRINCE BANDAR ASSURES SAFETY OF SAUDI
CITIZENS IN U.S.
- SAUDI ROYAL FAMILY CONTINUES TO
CONDOLE AMERICANS
- BAGHDAD ACCUSES RIYADH OF
OBSTRUCTING REFUGEES RETURN
· UAE
- RESIDENTS HAIL PRESIDENT'S STATEMENTS
ON TERRORISM, MIDEAST PEACE
- UAE, PAKISTAN PRESIDENTS DISCUSS
TERRORISM
- DUBAI E-GOVERNMENT PORTAL TO BE
LAUNCHED ON OCT 14
- DEALS STRUCK AT ARAB OIL AND GAS SHOW
- PROJECT TO HIKE POWER GENERATION
o BUSINESS & FINANCE NEWS
· REGION
- ENERGY FUTURES -- 09.14.01
- WAR RISK INSURANCE PREMIUMS TO
TAKE EFFECT SEPTEMBER 27
- ARAB SHIPBUILDING SLAMS WAR-RISK
INSURANCE HIKE
- OIL PRICES DROP
- GCC FORUM TO EVOLVE JOINT STANCE ON
WORLD TRADE ISSUES
- GULF ECONOMIES TO SLOW, OIL PRICES
SLIDE AFTER U.S. ATTACKS
- TERRORIST ATTACKS IN U.S. MAY SPUR
FLOW OF GULF FUNDS HOME
- GULF AIR STOPS FLIGHTS TO PESHAWAR
- ARAB LEAGUE TO BRING FORWARD DATE OF
FREE TRADE ZONE
- SUBMARINE CABLES STILL OFFER HUGE
INVESTMENT POTENTIAL
- ISRAEL FAILS TO PENETRATE GULF
MARKETS, STUDY
· KUWAIT
- KUWAIT, JAPAN'S AOC PREPARE FOR
NON-CONCESSION OIL DEAL
· OMAN
- GLOBAL SLOWDOWN DELAYS OMAN TELECOMS
SELL-OFF
- OMAN SHORTLISTS TWO FOR AIRPORTS
PROJECT
· SAUDI
ARABIA
- OIL MINISTER GIVES ASSURANCES OF
CONTINUED OIL SUPPLY
- DISCUSSIONS CONTINUE ON ARAB
DUTY-FREE ZONE
- SAGIA HAS ISSUED 445 JOINT PROJECT
LICENSES
- CROWN PRINCE ENDORSES LOAN SCHEME FOR
YOUNG SAUDIS
- OIL DEMAND IN ASIA TO RISE TO 35
MILLION BPD BY 2020, AL-NAIMI
· UAE
- INTERNET CITY LAUNCHES INFORMATION
TECHNOLOGY CHALLENGE
- DUBAI AIR SHOW TO GO AHEAD DESPITE
TERRORIST ATTACKS IN U.S.
- MINISTRY BID TO CURB LABOR ROWS
- 34 UAE FIRMS RANKED IN GCC TOP LIST
- SUEZ WINS UAE 100 MLN EURO WATER DEAL
o CALENDAR -
A LOOK AHEAD
o LAST LINES
*************************
NEWS
*************************
· REGION
GCC
MINISTERIAL COUNCIL EXTRAORDINARY SESSION
Riyadh, Sept 19 (KUNA) -- The GCC Ministerial Council will meet
next Sunday
within the implementation of Bahrain's proposal to hold an
extraordinary
session of the council, official sources at the GCC General
Secretariat said
on Wednesday. This meeting will be discussing the current
conditions on
both international and regional arenas in light of recent
terrorist attacks
against the U.S. in New York and Washington. The sources
added that the
council will be briefed in a detailed explanation from the Saudi
Foreign
Minister Prince Saud Al-Faisal over the outcome of his meetings
with the
U.S. leadership. It is expected that GCC foreign ministers
will be coming
up with decisions that condemn all sorts of terrorism and
solidarity with
the new international group which is led by the U.S. to combat
terrorism.
Bahrain, which is currently chairing the GCC session, has called
for holding
an extraordinary session of the ministerial council in the
headquarters of
the General Secretariat in Riyadh to confront the international
developments.
Source: Kuwait News Agency
EMERGENCY MEETING FOR THE GULF FOREIGN MINISTERS
http://www.arabicnews.com/ansub/Daily/Day/010918/2001091817.html
GCC COUNCIL TO DISCUSS U.S. MILITARY ACTION
http://www.gulf-news.com/Articles/news.asp?ArticleID=26888
MIDEAST
LEADERS WARN AGAINST HASTY US RETALIATION
Leaders throughout the Middle East are warning against a hasty
U.S. military
retaliation following last week's terrorist attacks in U.S.
cities… …The
United Arab Emirates, Iran, Iraq, Syria and Egypt were among
Mideast
countries that issued statements Monday urging patience from the
U.S.
government… Complete
report…
BAHRAIN, OMAN LEADERS MEET
Manama, Sept. 18 (GNA) -- H.H the Amir Shaikh Hamad bin Isa Al
Khalifa and
H. M. Sultan Qaboos bin Said of Oman held here today a
meeting… …The two
leaders reviewed issues that concern the GCC countries and the
path of the
council, asserting the need to enhance the march of the council
in various
political, economic, military, security, cultural and social
fields… …both
leaders expressed their intention… …to consider their next
summit in Oman
during next December… …the people of the GCC in reaching
integration and
complete gulf citizenship… …following the terrorist attacks
against US
military and economic installations, the two leaders voiced
their concern
over these developments, reiterating their denouncement and
condemnation of
such terrorist acts and their critical consequences that do not
serve
security, peace and stability in this region and in the whole
world. The two
leaders also affirmed the importance of standing with the US and
the
international community to punish all those who support and
sponsor such
terrorist activities.
Source: Gulf News Agency
BRITISH
WARPLANES STRIKE SOUTHERN IRAQ
…British warplanes [September 18] attacked an anti-aircraft
artillery site
in southern Iraq as part of an effort to disable Baghdad's air
defenses,
U.S. and British officials said. U.S. Defense Secretary Donald
Rumsfeld told
reporters the incident was not linked to last week's coordinated
attacks on
the Pentagon in Washington and the World Trade Center buildings
in New York…
Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26872
ARAB
FOREIGN MINISTERS IN CAIRO
September 10, 2001
The foreign ministers of the League of Arab States held in Cairo
today the
third in a series of closed-door sessions under the chairmanship
of the
foreign minister of Comoros Muhammed Al-Emin Seif Al-Yemeni. The
agenda
covers Arab relations with Africa, Europe, and the United
Nations as well as
regional issues such as the Middle East situation. Attending the
meetings is
Foreign Minister Prince Saud Al-Faisal, who arrived in Cairo
yesterday to
lead the Kingdom's delegation to the 116th open session whose
two-day
deliberations begin later today.
http://www.saudiembassy.net/press_release/01-spa/09-10-Arab.htm
OIL
TANKER FIRE IN GULF
A tanker carrying 5,700 tons of smuggled Iraqi crude oil is on
fire
[September 9] in the northern Gulf… …The blaze, aboard
the
Honduran-registered Khaled, broke out while the ship was in
international
waters east of Kuwait... Complete
report…
BRITISH TROOPS IN GULF COULD BE REDEPLOYED
Around 20,000 British troops on planned exercises in the Middle
East could
be deployed if needed in a military response to last week's
terror attacks
on the United States… …the troops, part of a naval task
force of 27 ships
led by the carrier HMS Illustrious, will be participating in a
joint
exercise with Omani forces during October which had been planned
for months
[See Oman - "Oman says war games with UK still on"
below]… …Illustrious is
carrying eight Royal Navy Sea Harriers and seven Royal Air Force
Harrier GR7
jets. Britain is also taking two nuclear-powered submarines,
frigates,
destroyers, amphibious vessels and two royal Marine commando
units..
Britain's forces in the Middle East include a permanent army
base in Cyprus.
Some 1,000 Royal Air Force personnel are based in southern
Turkey, Kuwait
and Saudi Arabia, largely to help the United States patrol the
no-fly zone
over Iraq… Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26821
TORNADOS
PREPARE FOR ARABIAN GULF EXERCISE
London, Sept 18 (KUNA) -- Tornado aircraft from Britain are this
weekend to
head for the Arabian Gulf to play their part in a major military
exercise
between the UK and the Sultanate of Oman, the British Royal Air
Force (RAF)
said Tuesday. The mission is not linked to any possible
action against
terrorists in the region and had been planned months ago, it
said.
Source: Kuwait News Agency
THE
MIDEAST IS ALSO CHANGED
[Analysis] By Shibley Telhami
http://www.nytimes.com/2001/09/19/opinion/19TELH.html
IRAQ
HAILS ATTACK ON US
The entire world - almost - has reacted with horror to the news
of Tuesday's
terrorist attacks against the United States - the entire world
except for
Iraq… Complete
report…
U.S. MILITARY ON TOP ALERT IN GULF
…Camp Doha, on the outskirts of Kuwait City, was sealed off,
U.S. residents
said. Similar force protection measures were taken across the
Gulf Arab
region where the United States has between 15,000-25,000
military personnel
and where its forces had been target to bombing attacks in
recent years…
Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26334
U.S.
MILITARY IMPOSES NEWS BLACKOUT IN GULF
…The U.S. navy in the Gulf declined to disclose any
information about
military forces or naval movements in the area yesterday and
usually
informative Pentagon websites were shut down or "under
repair" for security
reasons… Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26760
· BAHRAIN
ATTACK ON
U.S. 'PUTS ISLAM AT CROSSROADS'
…The Crown Prince of Bahrain said yesterday that last week's
attack on
America was the opening shot in a war against modernity in which
the Arab
world and Islam will line up on the side of civilized values…
Complete
report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26829
· KUWAIT
KUWAIT
SAYS MULLING MILITARY SUPPORT FOR U.S.
Kuwait said on Wednesday it was considering military action to
support U.S.
President George W. Bush's declaration of war on terrorism after
attacks
last week in New York and Washington that killed thousands of
people.
Source: Reuters
FOREIGN
POLICY ROOTED IN OUR PRINCIPLES, FORMIN AL-SABAH
Kuwait, Sept 19 (KUNA) -- Minister of State for Foreign Affairs
Sheikh
Mohammad Al-Sabah said Wednesday that Kuwait's foreign policies
regarding
the latest terrorist attacks on the U.S. would be guided by
ethics and
principles as well as deliberation with other Gulf states and
the
international community… …First Deputy Prince
Minister… Sheikh Sabah
Al-Ahmad would on Thursday pay his condolences to the U.S.
President in
person. Sheikh Sabah would also discuss the terrorist
attacks and several
other issues with the Bush administration. He would also
attend regional
meetings to fine tune Kuwaiti policy after considering the views
of all
parties in this regard… …[regarding] some Islamic clergy
arguments saying
assisting an international coalition in an attack against a
Muslim state
would be in breach of codes of Islam, the State Minister said is
was the
international coalition that had liberated Kuwait from the Iraqi
aggression
of 1990…
Source: Kuwait News Agency
· OMAN
OMAN SAYS
WAR GAMES WITH UK STILL ON
"We have been planning for this exercise, by far the
biggest in Oman's
history, since 1998. We are fully prepared to go ahead"…
…14,000 Omani
troops will take part in the 15-day exercise, starting from
mid-October,
with Britain's 24,000 men, more than 8000 of whom have already
arrived in
Oman. "It will be the biggest British troop deployment
outside Britain since
the 1982 Falklands war and the largest joint military exercise
in the region
after the Gulf War." [See related reports above]
http://www.gulf-news.com/Articles/news.asp?ArticleID=26830
· SAUDI
ARABIA
SAUDI
KING PROMISES US FULL SUPPORT
King Fahd of Saudi Arabia has said his country will offer
America full
co-operation in its fight against terrorism… … The Saudi
ruling family is
faced with an awkward dilemma - just how far should it go in
supporting
America against an enemy which could turn out to be Arab and
Muslim…
Complete
report…
SAUDI KING SAYS WILL COOPERATE WITH U.S.
http://www.gulf-news.com/Articles/news.asp?ArticleID=26822
U.S.
SEEKS LARGER SAUDI COOPERATION
Secretary of State Colin Powell tells reporters Tuesday he
expects his Saudi
counterpart to lend support to the current probe. "We will
welcome that help
and assistance," he said. "They are good friends of
ours. They have
condemned this act from the very outset, from the very
beginning, from last
Wednesday morning on. I am sure he is coming with a message of
continued
support and commitment, but I don't want to get into what
specifically we
might be asking of them." Saudi Arabia's cooperation may be
crucial because,
according to U.S. authorities, some of the hijackers were Saudi
citizens or
were traveling with Saudi documents. Complete
report…
PRINCE SAUD VISITS WASHINGTON
Prince Saud Al-Faisal, the Foreign Minister, will start a visit
to the U.S.
on Wednesday (September 19)… during the visit Prince
Saud will meet with
U.S. Secretary of State Colin Powell… [Saudi Press
Agency]
A Gulf source earlier said the Saudi delegation would include
senior
Interior Ministry officials and that Riyadh -- which has
condemned the
attacks -- is prepared to share intelligence with Washington…
…Analysts say
the kingdom can play a crucial role in the U.S. investigation by
providing
intelligence information about Washington's prime suspect,
Saudi-born
multi-millionaire Osama bin Laden, and the Taliban movement that
has given
him refuge in Afghanistan. [Reuters]
COUNCIL
OF MINISTERS MEETING
September 17, 2001
Custodian of the Two Holy Mosques King Fahd bin Abdulaziz today
chaired the
regular weekly meeting of the Council of Ministers and
reiterated the
Kingdom's categorical rejection and strong denunciation of
terrorism… … King
Fahd also reiterated the Kingdom's support for and cooperation
with the
United States in combating all kinds of terrorism, and stressed
that Saudi
Arabia repudiates any of its nationals who are linked to
terrorism. He
appealed to media everywhere to transmit true facts to the
public, and to
avoid making random accusations against Islam, repeating that
faithful
Muslims would never commit acts that contradict their
principles… Complete
press release…
http://www.saudiembassy.net/press_release/01-spa/09-17-cab.htm
FOREIGN
MINISTER CALLS FOR INTERNATIONAL ACTION AGAINST TERRORISM
September 16, 2001
Foreign Minister Prince Saud Al-Faisal, in an interview
published today by
the Jeddah-based newspaper Okaz, warned against the phenomenon
of terrorism,
and declared that it is high time for the international
community to take
action against it. He also said that the Saudi Embassy in
Washington DC is
ensuring the safety of all Saudi citizens residing in the United
States, and
is in constant contact with the American authorities.
Meanwhile, Minister
of Information Dr. Fouad Al-Farsi, at a meeting with
editors-in-chief today,stressed that the Kingdom's condemnation of the terrorist acts
of last
Tuesday stems from its inalienable stance condemning all forms
of terrorism.
http://www.saudiembassy.net/press_release/01-spa/09-16-Saud.htm
SAUDI
ARABIA TO HELP FIGHT TERRORISM
…the two countries need each other, bound together by the same
desire for
stability in the volatile Gulf… …"When it really
counts, Saudi Arabia has
been there," said Anthony Cordesman, a Middle East expert
in
Washington… …Saudi help will come, though, behind the
scenes… …The kingdom,
home to the holiest places in Islam, must take care not to forge
too close a
public alliance with the United States, lest it antagonize
dissidents on its
own soil who are already angry at the royal family over the U.S.
troops who
arrived during the Gulf War, and have stayed in smaller numbers
ever
since… …"They want to be friendly, they want to be
allies, they have
economic interests," Clovis Maksoud, a former Arab League
ambassador to the
United States and United Nations, said of the Saudis. "But
they don't want
to be too closely identified with the U.S., in the Arab and
Muslim worlds."
The most sensitive issue is U.S. troops. Several thousand
American military
personnel are based in the kingdom, some running Operation
Southern Watch,
which patrols the southern no-fly zone over Iraq, and others
training or
advising Saudi military forces. The U.S. forces could support
military
operations against Afghanistan or other countries harboring
terrorists…
Complete
report…
or http://www.foxnews.com/story/0,2933,34632,00.html
SAUDIS
CAST DOUBT OVER FBI LIST OF HIJACKERS
…saying some of them are alive and innocent… Complete
report…
http://about.reuters.com/dynamic/gulf_en_nL19529354.html
SAUDI
ALARM AT IDENTITY OF HIJACKERS
…Whatever the US investigation reveals about the identity of
the suspects,
Saudi Arabia faces tough choices. The attacks in the US and
strong Saudi
backing of US retaliation could have domestic ramifications,
reviving
government concerns about domestic opposition… Complete
report…
PRINCE BANDAR ASSURES SAFETY OF SAUDI
CITIZENS IN U.S.
September 17, 2001
Saudi Ambassador to the United States Prince Bandar bin Sultan
bin Abdulaziz
reiterated yesterday that the Embassy in Washington DC is
providing Saudi
citizens in the United States with all possible facilities and
assistance.
Pointing out that most of the Saudis detained for questioning by
U.S.
authorities have been released, he refuted exaggerated reports
about cases
of violence against Saudi nationals. U.S. President George W.
Bush and other
senior U.S. officials, he said, have made it clear that the
events of last
Tuesday had nothing to do with Muslims and Arabs either inside
or outside
the United States, and urged their people to refrain from
harming innocent
persons on the grounds of religion or nationality. Prince Bandar
added that
Deputy Prime Minister and Commander of the National Guard Crown
Prince
Abdullah bin Abdulaziz had discussed this point in his telephone
call to
President Bush.
http://www.saudiembassy.net/press_release/01-spa/09-17-Bandar.htm
SAUDI
ROYAL FAMILY CONTINUES TO CONDOLE AMERICANS
September 17, 2001
Prince Salman bin Abdulaziz, Prince Muhammad bin Fahd bin
Abdulaziz, and
Prince Mishaal bin Majid bin Abdulaziz, Governors of Riyadh,
Eastern and
Makkah Provinces, paid visits to the U.S. Embassy in Riyadh, the
U.S.
Consulate in Dhahran, and the U.S. Consulate in Jeddah,
respectively, in
order to offer the condolences of the Royal Family and the
people of Saudi
Arabia to U.S. President George W. Bush and the American people,
for the
victims of the criminal attack last week on the World Trade
Center in New
York and the Pentagon in Washington DC. All three stressed the
Kingdom's
condemnation of all forms of terrorism, and reiterated that
Islam expressly
forbids such practices.
http://www.saudiembassy.net/press_release/01-spa/09-17-lead.htm
BAGHDAD
ACCUSES RIYADH OF OBSTRUCTING REFUGEES RETURN
More than 5,200 refugees remain at Rafha camp in northern Saudi
Arabia from
a total of more than 33,000 Iraqis housed in the facility when
it was set up
after the 1991 war over Kuwait… Complete report…
http://www.arabia.com/news/article/english/0,1690,68931,00.html
· UAE
RESIDENTS
HAIL PRESIDENT'S STATEMENTS ON TERRORISM, MIDEAST PEACE
…In his message, Sheikh Zayed said: "The UAE clearly and
unequivocally
condemns the criminal acts that took place last week in New York
and
Washington, resulting in the deaths and injuries of
thousands"… Complete
report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26891
UAE,
PAKISTAN PRESIDENTS DISCUSS TERRORISM
An official Emirati spokesman had said Saturday the UAE was
"reviewing" its
relations with Afghanistan in the light of the attacks in the
US… Complete
report…
http://www.arabia.com/news/article/english/0,1690,72437,00.html
DUBAI
E-GOVERNMENT PORTAL TO BE LAUNCHED ON OCT 14
ABU DHABI, SEPT 17, 2001 (WAM)--Dubai Crown Prince and UAE
Defense Minister
General Sheikh Mohammed bin Rashid Al Maktoum will inaugurate
dubai.ae, the
e-government portal of the emirate, on October 14. The launch of
the first
unified e-government portal of the region will mark the
beginning of
governing through the Internet with the pronounced philosophy of
making
peoples' lives easy, according to a report in "The Gulf
Today."
Source: Emirates News Agency
DEALS
STRUCK AT ARAB OIL AND GAS SHOW
ABU DHABI, SEPT 17, 2001 (WAM)--Organizers of the Arab Oil &
Gas show,
currently under way at the Dubai World Trade Centre, said
several strategic
deals and alliances between regional and international oil
industry-related
companies have been concluded… Complete report…
http://www.wam.org.ae/2001/Sep/17/467679.htm
Source: Emirates News Agency
PROJECT
TO HIKE POWER GENERATION
ABU DHABI, SEPT 15, 2001 (WAM)--Dubai Electricity and Water
Authority (DEWA)
has initiated a project to increase power generating capacity of
the main
sub-station in Al Aweer… Complete report…
http://www.wam.org.ae/2001/Sep/15/466631.htm
Source: Emirates News Agency
============================================================================
FORWARD THIS
NEWSLETTER TO YOUR FRIENDS AND COLLEAGUES
============================================================================
*************************
BUSINESS AND FINANCE NEWS
*************************
·
REGION
[GulfWire] ENERGY FUTURES
-- [See note]
Light Crude (NYM)
$27.20 bbl UP from $26.95 bbl on 08.31.01
Brent Crude (IPE)
$26.41 bbl UP from $25.95 bbl on 08.31.01
Heating Oil (NYM)
$.772 gal UP from $.754 gal on 08.31.01
Natural Gas (NYM)
$2.38 mmbtu DOWN from $2.73 mmbtu on 08.31.01
Unleaded Gas (NYM)
$.786 gal UP from $.776 gal on 08.31.01
[Note: Brent Crude (IPE) price is as of market close on
09.14.01; other
prices (New York Mercantile) are last closing prices on
09.10.01]
Source: http://cnnfn.cnn.com/markets/commodities.html
****************************************************************************
ENERGY COMMODITY INFORMATION (Oil Futures, Heating Oil, Unleaded
and Natural
Gas price charts and tables) - Data from July 1999 through
September 2001 -
go to: http://www.arabialink.com/Resources/EnergyPriceInfo.htm
****************************************************************************
ENERGY INFO RESOURCE - - > DOE/EIA
COUNTRY ANALYSIS BRIEFS… GO TO:
http://www.eia.doe.gov/emeu/cabs/contents.html
****************************************************************************
WAR RISK
INSURANCE PREMIUMS TO TAKE EFFECT SEPTEMBER 27
…The London War Risk Market has instructed insurance
underwriters in the UAE
and other countries in the region to run the seven-day notice of
cancellation with effect from September 20, under the hull and
associated
war risk cover… Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26807
ARAB
SHIPBUILDING SLAMS WAR-RISK INSURANCE HIKE
…"would break the backbone of Arab shipbuilding and
repair yards and other
firms, which heavily depend on shipping such as oil, aluminum,
steel and
petrochemical firms"… Complete report…
http://about.reuters.com/dynamic/gulf_en_nL1984270.html
OIL
PRICES DROP
London, Sept. 18 (SPA) -- Oil prices slumped over $1 on Tuesday,
dropping
lower than they were before last week's U.S. attacks as fears of
a global
recession outweighed concerns that supplies might be disrupted
by any U.S.
military action. Benchmark Brent crude oil futures, down a
dollar on
Monday, fell another $1.07 to $27.31 per barrel, a level not
seen since
before hijacked airlines crashed into the world trade center in
New York
City and the Pentagon in Washington a week ago. U.S. oil futures
lost $1.11
a barrel to $27.70 after touching a low of $27.60 -- three cents
below the
last closing price before the attacks.
Source: Saudi Press Agency
GCC FORUM
TO EVOLVE JOINT STANCE ON WORLD TRADE ISSUES
GCC Ministers of Commerce and Industry are to meet in Bahrain
next week, to
discuss a joint stance on issues related to the World Trade
Organization
(WTO). The meeting, on September 24 and 25, will also focus on
many other
issues related to industry, trade and standardization. The
meeting will be
chaired by Commerce and Industry Minister Ali Saleh Al Saleh, as
Bahrain
holds the presidency of the GCC council at present.
Source: Gulf Daily News
GULF
ECONOMIES TO SLOW, OIL PRICES SLIDE AFTER U.S. ATTACKS
…"Overall there will be a downward trend in the world
economy, and the
economies of the Gulf in particular," Said al-Shaikh, chief
economist of
Saudi National Commercial Bank, told AFP. "This is expected
to start in the
second quarter of next year with a slowdown in the
economy," he said…
Complete
report…
TERRORIST ATTACKS IN U.S. MAY SPUR FLOW OF
GULF FUNDS HOME
…"The uncertainty in the U.S. after the attack, the fear
of a freeze on
assets and lower interest rates may lead to a large-scale influx
of money.
Besides, the local stock markets are improving in the Gulf,
luring
investments back"… Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26737
GULF AIR
STOPS FLIGHTS TO PESHAWAR
Manama, Sept. 18 (GNA) -- Gulf Air decided to stop operating its
flights to
Peshawar in Pakistan, effective from tomorrow Wednesday…
…Gulf Air will
resume its flights to Peshawar once circumstances permit it.
Source: Gulf News Agency
ARAB
LEAGUE TO BRING FORWARD DATE OF FREE TRADE ZONE
September 12, 2001
The ministerial economic and social council of the League of
Arab States,
which concluded its meetings in Cairo today, has decided to
shorten the
transitional period for establishing the Arab free trade zone,
bringing it
forward to early 2005 instead of late 2007. The council made a
number of
recommendations, calling on Arab states to take further steps to
eliminate
trade barriers and boost trade among themselves, and urging Arab
finance
institutions to support less developed Arab states. Other
decisions involved
setting up an Arab customs union, and taking steps to avoid tax
duplication
among Arab countries.
http://www.saudiembassy.net/press_release/01-spa/09-12-Arab.htm
SUBMARINE
CABLES STILL OFFER HUGE INVESTMENT POTENTIAL
"Despite the current slowdown in the global economy, there
are some
significant sea cable projects being considered to develop
telecommunications and Internet spheres…" …Other
projects include
installation of UAE submarine cables of over 1,000 kilometers,
the UAE-Iran
fiber optic cable, and another linking the UAE, Kuwait, Qatar
and Bahrain…
Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26881
ISRAEL
FAILS TO PENETRATE GULF MARKETS, STUDY
Cairo, Sept 17 (KUNA) -- Israel has failed to penetrate the wall
created by
anti-Israeli normalization groups in the Gulf countries despite
its
continuous efforts to break it down, a study said. The
study prepared by
the Gulf Center for Political and Strategic Studies said Israel
is trying in
many ways to break down the resistance of normalizing relations
with Israel
by changing the names of goods and attempting to export them to
the Gulf
markets.
Source: Kuwait News Agency
·
KUWAIT
KUWAIT,
JAPAN'S AOC PREPARE FOR NON-CONCESSION OIL DEAL
Kuwait said yesterday it had agreed with Japan's Arabian Oil Co
Ltd (AOC) to
end its 40-year oil concession in the Neutral Zone on January 4,
2003. The
shape of AOC's future role in the zone, equally shared with
Saudi Arabia,
will be agreed upon in later talks but the two sides reached a
non-binding
agreement in principle on it… … The memorandum calls for a
"long-term"
supply deal with Kuwait selling Japan no less than 100,000
barrels per day
from Khafji crude in the zone at prevailing market prices. It
says AOC will
extend soft loans to finance some zone operations at lending
rates below
international market levels… Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26856
·
OMAN
GLOBAL
SLOWDOWN DELAYS OMAN TELECOMS SELL-OFF
"The slump in global markets that especially hit
telecommunications
companies worldwide in the last two years, plus our own internal
restructuring, are the main causes of the delay…"
Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26877
OMAN
SHORTLISTS TWO FOR AIRPORTS PROJECT
…An official said the Gulf state expects the firm that wins
the management
contract to invest $100 million in upgrading the airports over
the coming 10
years… Complete report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26171
SAUDI
ARABIA
OIL
MINISTER GIVES ASSURANCES OF CONTINUED OIL SUPPLY
September 12, 2001
Minister of Petroleum and Mineral Resources Ali Al-Naimi stated
today that
Saudi oil supplies have not been affected by recent events in
the United
States, and that the Kingdom's exports to the United States are
stable and
in accordance with ordinary programs. The Kingdom of Saudi
Arabia, he said,
places particular importance to the stability of the
international oil
market, the provision of supplies on a continuing basis, and
cooperation
with members of the Organization of Petroleum Exporting
Countries (OPEC) to
fill any shortfall that might arise.
http://www.saudiembassy.net/press_release/01-spa/09-12-oil.htm
DISCUSSIONS
CONTINUE ON ARAB DUTY-FREE ZONE
September 8, 2001
Foreign Minister Prince Saud Al-Faisal headed the Saudi
delegation to the
11th session, held in Cairo September 7 and 8, of the Arab
Economic and
Social Council follow-up committee assigned to implement the
Arab duty-free
zone. The proposed duty-free zone covers Bahrain, Egypt, Iraq,
Jordan,
Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Syria,
Tunisia, and the
United Arab Emirates. The outcome of the meeting will be
submitted to the
Council's scheduled session in Cairo September 12-13.
http://www.saudiembassy.net/press_release/01-spa/09-08-Arab.htm
SAGIA HAS
ISSUED 445 JOINT PROJECT LICENSES
September 18, 2001
The Saudi Arabian General Investment Authority (SAGIA) has to
date issued
445 licenses involving joint Saudi and foreign capital totaling
[$9.23
billion]. The foreign participation in this capital represents
91.2 percent
of the total, at [$8.4 billion]. The licenses issued are for 238
industrial
projects with a capital investment of [$5.03 billion], and 207
service
projects worth [$4.2 billion].
http://www.saudiembassy.net/press_release/01-spa/09-18-econ.htm
CROWN
PRINCE ENDORSES LOAN SCHEME FOR YOUNG SAUDIS
September 11, 2001
Deputy Prime Minister and Commander of the National Guard Crown
Prince
Abdullah bin Abdulaziz has endorsed a scheme to extend loans to
young
Saudis, notably taxi and limousine drivers. Minister of Finance
and National
Economy Dr. Ibrahim Al-Assaf announced that a sum of [$53
million] is to be
allocated to finance this program, which will be carried out by
the Saudi
Credit Bank. The loans, he said, are aimed at encouraging young
Saudis in
vocational jobs, and at supporting small projects that can
contribute to
economic development in the country. Any citizen over the age of
21, holding
a valid driving license, who desires to work as a taxi or
limousine driver,
will be entitled to receive a loan up to [$21,000], to be repaid
in 48
monthly installments. Their vehicles must meet the standards of
the Ministry
of Communications, and will be owned by the Saudi Credit Bank
until all
installments are repaid.
http://www.saudiembassy.net/press_release/01-spa/09-11-econ.htm
OIL
DEMAND IN ASIA TO RISE TO 35 MILLION BPD BY 2020, AL-NAIMI
Sept 19 [SPA] Saudi Minister of Petroleum and Mineral Resources
Ali Al-Naimi
said on Wednesday that demand for oil in Asia by 2020 will
likely be in the
range of 30 to 35 million barrels per day (BPD) or some 35
percent of the
world-wide consumption. In an Address to the World
Petroleum Congress in
Shanghai today, he said "To Date, with 65 percent of proven
oil reserves,
and only 31 percent of the world oil production and 47 percent
of world oil
exports, the Gulf region has the resource base and the
production potential
to meet such demand. The geographic proximity of the region to
Asia makes it
the most suitable source of affordable and reliable
supply"… …"over the past
decade, the Kingdom's exports to Asia have grown from 1 million
to 4 million
barrels per day (BPD), or from 10 percent of our total exports
to 60
percent, furnishing a healthy 20 percent of Asia's current
petroleum needs,"
he noted. Al-Naimi noted the enormous progress that has
been made in the
relationship between the Kingdom and China in all respects.
"Bilateral
trade has shown two-fold increase. Investment has
increased significantly,"
he said. "Moreover, oil demand in Asia has grown from
14 million BPD in
1990 to more than 20 million BPD in 2000… as such, Asia
will be the major
growth area for petroleum consumption during the forthcoming
decades…"
Source: Saudi Press Agency
·
UAE
INTERNET
CITY LAUNCHES INFORMATION TECHNOLOGY CHALLENGE
A unique initiative to promote the use of Information Technology
in
classrooms nationwide was launched in the Dubai Internet City
yesterday. The
UAE Educational IT Challenge requires students, teachers,
schools and
universities to develop IT projects and share ideas. Complete
report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26853
DUBAI AIR
SHOW TO GO AHEAD DESPITE TERRORIST ATTACKS IN U.S.
…Dubai 2001, the seventh international aerospace exhibition,
will take place
November 4 to 8. This year's air show may have its biggest
official
delegations program with the heads of 66 airlines, over 50 civil
aviation
authorities and 60 defense missions from 78 countries invited…
Complete
report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26875
MINISTRY
BID TO CURB LABOR ROWS
…"Twenty years after issuing the Labor Law, the ministry
felt it was
necessary to review and amend its laws, with the intention to
secure
workers' rights, limit the disputes between workers and their
sponsors, and
rectify the loopholes in the current laws in order to prevent
violations by
either the employees or the employers"… Complete
report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26177
34 UAE
FIRMS RANKED IN GCC TOP LIST
…The aggregate value of companies included in the survey
jumped up by 11.5
per cent to nearly $130 billion. This represents a $14 billion
increase in
market value - with 60 firms rising, 67 companies falling and 11
staying at
the same level and 12 new entries to the list… Complete
report…
http://www.gulf-news.com/Articles/news.asp?ArticleID=26173
SUEZ WINS
UAE 100 MLN EURO WATER DEAL
…the plant, which will use inverse osmosis technology to
desalinate sea
water, would have a capacity of 62 million cubic meters of water
per year --
making it the world's biggest such plant. It said it
expected its first
water production from April 2003… Complete report…
http://www.menafn.com/qn_news_story_r.asp?StoryId=1000195692nL1136851
============================================================================
CURRENCY CONVERSIONS
[IN BRACKETS] MADE USING MONEY.CNN.COM
============================================================================
CLICK HERE
TO SUBSCRIBE TO GULFWIRE
============================================================================
*************************
CALENDAR
*************************
CALENDAR - A LOOK AHEAD
Check the GulfWire Calendar for upcoming events, conferences,
and other
dates of significance. For the complete GulfWire calendar CLICK
HERE.
To get your event added to the GulfWire Calendar CLICK
HERE.
*************************
LAST LINES
*************************
Independent commentary
provided in ‘GulfWire’ and materials contained in the linked
Internet sites do not necessarily reflect the views of the
National Council on U.S.-Arab Relations or the U.S.-GCC
Corporate Cooperation Committee. News extracts and links
contained in GulfWire have been reported in various media.
GulfWire and the National Council on U.S.-Arab
Relations/U.S.-GCC Corporate Cooperation Committee have not
independently verified the accounts referred to and do not vouch
for their accuracy or the reliability of Internet links.
Internet links were active
the day of publication in GulfWire. Some
hyperlinks are longer than one line of text and may not properly
‘wrap
around’ in your email. You may need to cut and paste
these links to your
Web browser.
The ‘GulfWire’ is an
information service of the National Council on
U.S.-Arab Relations and the U.S.-GCC Corporate Cooperation
Committee
Secretariat. Please feel free to forward this edition of
the ‘GulfWire’ to
your friends and colleagues, and suggest additions to our
mailing list.
CLICK HERE
For more information on the
National Council on U.S.-Arab Relations and the
U.S.-GCC Corporate Cooperation Committee visit the web sites of
the National Council on
U.S.-Arab Relations and the U.S.-GCC
Corporate Cooperation Committee or call (202)293-0801.
****************************************************************************
National Council on U.S.-Arab Relations
President and CEO: Dr. John Duke Anthony
U.S.-GCC Corporate
Cooperation Committee
Secretary: Dr. John Duke Anthony
1140 Connecticut Avenue, NW
Suite 1210
Washington, DC 20036
Tel: 202.293.0801
Fax: 202.293.0903
PATRICK W. RYAN
Editor-in-Chief, GulfWire
mailto:gulfwire@ArabiaLink.com
C. R. TRISDALE
Deputy Editor, GulfWire
mailto:CRTrisdale@ArabiaLink.com
|
The
GulfWire e-newsletter and Web site are developed,
produced and
maintained by Ryan
& Associates. |
 |
Copyright © 2001, GulfWire
All rights reserved.
The contents of this newsletter may not be reproduced in any
commercial
document or in any material sold, nor used in any other manner
without
permission of GulfWire. Links to Internet sites should not
be seen as an
endorsement of the sites, or the information contained in them.
