GulfWire Digest
A family of e-newsletters from the National Council on U.S.-Arab 
Relations & the U.S.-GCC Corporate Cooperation Committee

Newsletter #229                                                            Week of December 29, 2003-January 4, 2004

ABOUT GULFWIRE

GulfWire is a public service of the National Council on U.S.-Arab Relations and the U.S.-GCC Corporate Cooperation Committee

Publisher
Dr. John Duke Anthony
Editor-in-Chief
Patrick W. Ryan
Deputy Editor
Connie R. Trisdale
Editorial Assistant
Margaret Philpot
Research Assistant
B. F. Hammock

GulfWire@ArabiaLink.com

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
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Tel: 202.293.0801
Fax: 202.293.0903

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The GulfWire Links that appear at the end of Digest reports transport you to related GulfWire Digest reports available through the GulfWire On-Line Archive --  access to thousands of archived reports published in GulfWire every week since 1999. They provide the background and context you need to understand current developments.

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.

VISIT THESE SITES

Link to Amazon


Catalog of Publications 
from the Emirates Center for Strategic Studies and Research
[more]
on ArabiaLink.com

 

HAVE YOU READ THESE ?

> The United States Must Not Neglect Saudi Arabian Investment  By Tanya C. Hsu
> Saudi-American Forum Interview Ambassador Chas W. Freeman - A Relationship in Transition
> Flogging the Arabs for Votes? The 2004 U.S. Presidential Election and the Middle East By David T. Dumke
> Remember Khobar Towers by Louis J. Freeh
> Saudi Suicide Bombings Act Against Al Qaeda
by Wyche Fowler 
and Edward S. Walker
> Don't Let Bin Laden Win!
by Anthony H. Cordesman
> The Approaching Turning Point: The Future of U.S. Relations with the Gulf States by F. Gregory Gause, III
> In the Eye of Yet Another Storm: US-Saudi Relations and the Iraqi Campaign
by Gregory J. H. Dowling
> Saudi Arabia: Winds of Change in the Desert
by Sandra Mackey
> The Prince
by Elsa Walsh
> US-Saudi Ties Prove 
Crucial In War
by Michael Dobbs



Amazon.com -- Affiliate Sales

 

MEANWHILE, OVER AT THE SAUDI-AMERICAN FORUM..

> "Terrorists Strike Riyadh Compound in Suicide Bombing - [Special Report #2]"
> "Terrorists Strike Riyadh Compound in Suicide Bombing - [Special Report #1]"
> "Perspectives on Developments in US-Saudi Relations:  A Saudi Woman Speaks on the Issues"
> "President Bush on Freedom in the Middle East"
> "Redeployment of the F-15 to Tabuk," by Anthony H. Cordesman
> "Saudization:  Development and Expectations Management," by Grant F. Smith
> "Behind and Beyond the Headlines:  Saudi Arabia," by Karen Miller Lamb
> "Correcting Misconceptions About Women's Role in Saudi Society," by Maha Akeel, Arab News staff
> "Saudi Arabian Crown Prince Abdullah Discusses Relations between Muslim and Non-Muslim Nations"
> " 'In Defense of the Nation':  Terror and Reform in Saudi Arabia," by James A. Russell
> "Strengthening Arab-US Relations:  What Is Required?  A Saudi View of the Palestine Problem," by Amr Khashoggi
> "U.S.-Arab Economic Forum:  One World.  Two Cultures.  Endless Possibilities."
> "HRH Prince Saud Al-Faisal Foreign Minister of the Kingdom of Saudi Arabia at the U.S. - Arab Economic Forum"

[more SAF items]

[more SUSRIS items]


 

In This Issue

O   News
  ·   Region
       - GCC Summit
       - Arab League's Mussa Calls For Arab Involvement In Iraq
       - Chances Of GCC Admitting Iraq Are Slim Since Huge Obstacles Remain
       - Arab States Warm To Iraqi Council
       - U.S. Mum On Talks To Explore U.N. Role In Iraq
       - Baathist Remnants Locked In Power Struggle
       - Gunmen Shoot Dead Top Iraqi Judge
       - Thousands In Iranian City Killed In Quake
       - Saudi-Qatari Talks Fail To Resolve Rift
       - Another War On Shaky Territory
  ·   Bahrain
       - US Expects Attack On Bahrain
       - Bahrain Denies Knowing About Threats To American Interests
       - Terrorist Fear For Bahrain Gran Prix
       - Bahraini Women Protest Chirac Decision To Ban Headscarves
       - Freedom For All Faiths Pledged
       - Bahrain Teams Check 'Immorality'
       - Bahrain To Sign Extradition Treaty With India
       - $3.97M Public School On Way
       - Capital Governorate Launches Data Bank
  ·   Kuwait
       - Japan, Kuwait Conclude Agreement On Troop Management
  ·   Oman
       - HM Confers Al Nu'man Order On French Envoy
  ·   Qatar
       - Woman To Lead Qatar's Biggest Medical Foundation
       - Carnegie Mellon University Eyeing Qatar Branch
       - Sudan Releases Detained Al-Jazeera Correspondent
  ·   Saudi Arabia
       - Saudi Terror Crackdown To Be Tested
       - Group Opposes Saudi Arabia Accountability Act
       - Saudi Arabia And United States Make Joint Designation On Terror 
         Financing
       - Terror Cash Traced To Illegal Charity Boxes
       - Saudi Arrests Five After Seizing Bomb-Making CDS
       - Kingdom Will Not Discuss Iraqi Debt Write-Off With Governing Council: 
         Saud
       - Kingdom, US Talks On WTO Make Progress
       - Saudi Creates New Minister To Boost Shura Council
       - Saud Calls For Popular Participation In Politics
       - Saudis Petition For Speedy Reform
       - Kingdom To Embark On Major Privatization Program
       - Temporary Ban On Import Of US Beef Products
       - Account Holders Told To Update Personal Info
       - Housing Compounds Lose Their Allure
       - Scheme For Training Saudi Nurses Launched
       - Alvarez Alarmed At Safety Of OFW's In Saudi Arabia
       - Hajj: Saudi Arabia Pegs January Deadline For Visas
       - Arbaeen Lagoon To Become Site Of Amusement Park
  ·   UAE
       - Drop In UAE Quota Spurs Big Rush Of Pilgrims
       - BBC World Wins Zayed Prize For Environment
       - Bridging The Gender Divide
       - Spotlight On Women's Role In Politics
       - Finding A Place For Ecotourism In The UAE
O   Link Of The Week - GCC Secretariat
O   GulfWire Flashback - Over Four Years Of GulfWire
O   Business & Finance News
  ·   Region
       - Energy Futures - 12.26.03
       - Incoming OPEC Chief Voices Concern Over High Oil Prices
       - Kuwait Warns Excess Supplies Could Dampen Oil Price
       - Lower Arab Defense Spending Will Spur Growth
       - Trip Aims To Boost Mid-East Trade
       - Acts Signed To Spur Bahrain-Saudi Trade
       - AWCC Plans Headquarters In Kingdom
       - Kuwait-Saudi Neutral Zone Oil Output At 270,000 BPD
       - 4th Middle East It Security Roadshow To Take Place In January
       - Saudi-Bahraini Bilateral Trade Up To $562.3 Million In 2002
  ·   Bahrain
       - India Group Eyes Bahrain Gateway
       - Manama To Host Insurance Forum
       - Shares Rise In Bahrain
  ·   Kuwait
       - Moody's Issues Annual Report On Kuwait
  ·   Oman
       - Citigroup To Shut Oman Operations Down
       - Oman Seeks Joint Investment From PTT
       - Oman's Gas Reserves Seen At 30TCF
  ·   Qatar
       - Qatar Airways Signs Deal With Major Reservation Firm In Japan
       - Water Research Plant To Come Up In Dukhan
  ·   Saudi Arabia
       - Kingdom's Banks Floating On Huge Liquidity
       - Saudi Arabia In 2004
       - Saudi Economy To Shrink In 2004
       - SEDC Wants To Build Huge Warehouse On Yemen Border
       - Makkah's Jabal Omar Project To Cost SR12 Billion: Faqeeh
  ·   UAE
       - FS And Denaro Sign $47M Fuel Vapor Recovery System Deal
       - Move To Convert MEB Into Islamic Bank Likely To Get Support
       - Abu Dhabi Starts Levying Annual Fee For Stockbrokers
       - Dubai Land Transactions Jump 27PC
       - ABRA Stations, Breakwaters Among DH30M Coastal Projects
       - Airlines Poised To Push Up Freight Charges
       - Royal Brunei Cuts Fares To Dubai To Support DSF
       - Vivendi-Mitsui Alliance Secures ADWEA Contract
       - Autumn Fair Gets More Exhibitors

 

News - Region

GCC SUMMIT
"The Gulf Cooperation Council leaders have approved a pact to combat terror, adopted steps to speed up economic integration and welcomed US plans to transfer power to the Iraqis. At the conclusion of the 24th GCC summit in Kuwait City [Dec 22], the leaders said the pact would coordinate the efforts of member states to fight terror following a spate of bomb attacks in Saudi Arabia.." Complete report..
Also:
ARAB LEADERS OK PACT TO COMBAT TERRORISM
~~GulfWire Link~~
24TH ANNUAL GULF COOPERATION COUNCIL SUMMIT -- CONCLUSION -- PRESS REVIEW
24TH ANNUAL GULF COOPERATION COUNCIL SUMMIT -- OPENING DAY -- PRESS REVIEW  
GCC SUMMIT - GWD Dec 22, 2003
GCC CALLS FOR EFFORTS TO ROOT OUT TERRORISM - GWD May 26, 2003

ARAB LEAGUE'S MUSSA CALLS FOR ARAB INVOLVEMENT IN IRAQ
"Arab League chief Amr Mussa called on Arab nations to back efforts to rebuild war-torn Iraq after talking with members of the Governing Council.. ..Arab League delegates currently in Iraq would travel to the Iraqi Kurdish city of Arbil [Dec 31].. ..The delegates, led by Mussa deputy Ahmed bin Helli, are the first from the league to visit Iraq since Saddam Hussein's overthrow in April. The organization gave an initial chilly reception to the new order in Iraq.." Complete report..
~~GulfWire Link~~
ARAB LEAGUE BACKS IRAQ COUNCIL - GWD Sep 15, 2003

CHANCES OF GCC ADMITTING IRAQ ARE SLIM SINCE HUGE OBSTACLES REMAIN
"The chances of Iraq joining the Gulf Cooperation Council, in spite of the hype, are slimmer than none, according to experts and Kuwaiti officials.. ..While there has been much talk in the run-up to the 24th Annual GCC Summit, which opened [Dec 21] Kuwaiti officials insist the issue was never on the agenda and would not be discussed by the leaders of the six member states.. ..'What can it contribute right now to the union except a bag of problems?'.." Complete report..
~~GulfWire Link~~
POST-SADDAM IRAQ CAN JOIN GCC: BAHRAIN - GWD Oct 20, 2003

ARAB STATES WARM TO IRAQI COUNCIL
"They groused that the US invasion of Iraq was a violation of international law and their secretary general warned that the US might be opening the 'door to hell' by alienating its member states. But that was back during the April invasion. This week the 22-state Arab League - so dismayed and angry at the US last spring that it seemed meaningful cooperation on Iraq wasn't possible - signaled a change in attitude by sending its first official delegation to the troubled country.." Complete report..
~~GulfWire Link~~
ARAB LEAGUE BOSS COOL TOWARD IRAQI BODY - GWD Jul 21, 2003

U.S. MUM ON TALKS TO EXPLORE U.N. ROLE IN IRAQ
"U.N. Secretary-General Kofi Annan will meet with Iraqi officials next month to explore a U.N. role in guiding Baghdad's return to self-government, but the United States is keeping silent on whether it will attend the talks.. .. While President Bush told Annan by telephone that he thought a three-way meeting was 'a good idea,' the U.S.-led Coalition Provisional Authority administering Iraq has not responded to a U.N. invitation for the meeting, set for Jan. 19 in New York.." Complete report..
~~GulfWire Link~~
ANNAN RULES OUT U.N. RETURN TO IRAQ IN NEAR FUTURE - GWD Dec 15, 2003

BAATHIST REMNANTS LOCKED IN POWER STRUGGLE
"With Saddam Hussein under arrest, a power struggle has started within the remnants of his Baathist regime. At least three rival groups are positioning themselves to fight for the control of what they call 'popular resistance'..  ..The issue is attracting broader Arab interest with some pan-Arabists, Islamists and other groups focusing on the Iraqi insurgency as the vanguard of a wider struggle against the West led by the United States.." Complete report.." Complete report..

GUNMEN SHOOT DEAD TOP IRAQI JUDGE
"A senior Iraqi judge has been shot dead in the northern city of Mosul. Police say the judge, Youssef Khoshi, was shot six times in the back by several men in a car on [Dec 22].. ..Judge Youssef Khoshi was one of the three chief investigative judges in Mosul.." Complete report..
~~GulfWire Link~~
ANTI-SADDAM PROBE JUDGE MURDERED - GWD Nov 10, 2003

THOUSANDS IN IRANIAN CITY KILLED IN QUAKE
"Entire blocks of buildings lay crushed and survivors lined up blanket-wrapped bodies in the street after a devastating earthquake leveled nearly three-quarters of the Iranian city of Bam on [Dec 26], killing at least 5,000 people and injuring 30,000 others.. ..Local officials said the death toll could reach up to 12,000, though the deputy governor of Kerman province said an accurate count was impossible with many victims still trapped under the rubble.." Complete report..

SAUDI-QATARI TALKS FAIL TO RESOLVE RIFT
"Saudi Crown Prince Abdullah bin Abdul Aziz met the Emir of Qatar, Sheikh Hamad bin Khalifa al-Thani, [Dec 21] in Kuwait but failed to resolve a dispute between the two neighbors.. ..Relations started deteriorating between Riyadh and Doha in the summer of 2002 because of a program aired by Qatar's satellite television channel Al-Jazeera, which Saudi Arabia's ruling family considered offensive. Riyadh recalled its ambassador from Doha at the end of September 2002.." Complete report..
~~GulfWire Link~~
SAUDI ENVOY RECALLED FROM QATAR - GWD Sep 23, 2003
QATARI JAZEERA TV OFFENDS SAUDI ARABIA AGAIN - GWD Jul 29, 2002

FOR VIETNAM VET ANTHONY ZINNI, ANOTHER WAR ON SHAKY TERRITORY
"..Over the past year, the retired Marine Corps general has become one of the most prominent opponents of Bush administration policy on Iraq, which he now fears is drifting toward disaster.. ..Three years ago, Zinni completed a tour as chief of the Central Command, the U.S. military headquarters for the Middle East, during which he oversaw enforcement of the two "no-fly" zones in Iraq and also conducted four days of punishing airstrikes against that country in 1998. He even served briefly as a special envoy to the Middle East, mainly as a favor to his old friend and comrade Secretary of State Colin L. Powell..." Complete report..

                                                                                                          Back to top

News - Bahrain

US EXPECTS ATTACK ON BAHRAIN
"An alert over a possible terrorist attack in Bahrain over the Christmas and New Year period was issued [Dec 23]. The US embassy in the Gulf island state said that it had specific intelligence of a threat. Bahrain hosts the US naval headquarters in the Middle East and South Asia.." Complete report..
Also:
TERROR ALERTS ISSUED IN TURKEY, BAHRAIN

BAHRAIN DENIES KNOWING ABOUT THREATS TO AMERICAN INTERESTS
"Bahrain's information minister Nabil Yaqoub al-Homor said that Bahrain does not know about threats of possible attacks occurring in the country. This, however, followed an American warning of attacks against the American embassy in Manama. Al-Homor expressed conviction that the situation is satisfactory, and there is no evidence that the situation is dangerous.." Complete report..

TERRORIST FEAR FOR BAHRAIN GP
"The inaugural Bahrain Grand Prix could be at risk from a terrorist attack, the [British] Foreign Office has warned. 'We are not saying the race should not be held, but it is on the Foreign Office's radar and is under review,'.. ..The Foreign Office is particularly concerned about potential threats to places where westerners might gather - a serious concern for the event to be held on 4 April near Manama. The race will be the first F1 Grand Prix in the Middle East.." Complete report..
~~GulfWire Link~~
BAHRAIN SET FOR MAIDEN GP - GWD Sep 8, 2003

BAHRAINI WOMEN PROTEST CHIRAC DECISION TO BAN HEADSCARVES
"Some 200 Bahraini women rallied [Dec 25] outside the French embassy here to express their opposition to the recent French decision to ban the Islamic hijab (headscarf) in public schools.. ..Chirac said last week the hijab, the Jewish Kippa and a cross that is of plainly excessive dimensions had no place in the precincts of state schools.." Complete report..
Also:
RALLY AGAINST FRENCH BAN ON SCARVES 

FREEDOM FOR ALL FAITHS PLEDGED
"Bahrain [Dec 24] reiterated its commitment to full freedom of worship for all residents. The declaration was made by Islamic Affairs Under-Secretary Shaikh Khalifa bin Hamad Al Khalifa, who described Bahrain as a pluralistic society, which tolerates and respects other faiths.. ..'The best proof of this can be seen in the fact that His Majesty King Hamad sponsored an Islamic-Christian dialogue conference last year'.." Complete report..

BAHRAIN TEAMS CHECK 'IMMORALITY'
"The ministry of information has imposed rules to check "immoral violations" in Bahrain's nightspots, minister Nabeel Al Hamer said [Dec 23]. Undercover inspection teams are being sent to hotels and clubs to make sure they comply with the rules, he told the Parliament.. ..Al Hamer said the ministry has prepared a number of plans to promote the kingdom, the Gulf financial and banking center, as a family tourism hub.." Complete report..

BAHRAIN TO SIGN EXTRADITION TREATY WITH INDIA
"Bahrain's Prime Minister Shaikh Khalifa bin Sulman Al Khalifa will pay a four-day official visit to India next month. During the visit, from January 11 to 14, he will hold talks on bilateral and trade relations with senior Indian government officials. The two countries have been discussing an extradition treaty for some time, and the pact will be signed during this visit.." Complete report..

$3.97M PUBLIC SCHOOL ON WAY
"One of India's premier international chain of schools, the Delhi Public School (DPS), is to open a school in Bahrain early next year. Bahrain-based Knowledge Management Group (KMG) has joined hands with the Delhi Public School Society (DPSS) to establish the school at a total cost of BD1.5 ($3.97) million.. ..Registration will start from the middle of next month. In the first year, the school will start with kindergarten to class five.." Complete report..

CAPITAL GOVERNORATE LAUNCHES DATA BANK IN ARABIC AND ENGLISH
"A data bank, in both Arabic and English, was launched by the Capital Governorate [Dec 23]. The data bank will include information and statistics on services provided by the governorate.." Complete report..

                                                                                                          Back to top

News - Kuwait

JAPAN, KUWAIT CONCLUDE AGREEMENT ON TROOP MANAGEMENT
"The Japanese Foreign Ministry announced [Dec 23] Japan and Kuwait have concluded a Status of Forces Agreement (SOFA) on the management and operation of Japan's Self-Defense Forces (SDF) troops to be stationed in the Middle Eastern country.  It is the first time for Japan to conclude a SOFA over the dispatch of the SDF to a foreign country.." Complete report..
~~GulfWire Link~~
JAPAN TO SIGN SOFA WITH KUWAIT - GWD Jul 21, 2003

                                                                                                          Back to top

News - Oman

HM CONFERS AL NU'MAN ORDER ON FRENCH ENVOY
"His Majesty Sultan Qaboos bin Said has granted Michel Touraine, ambassador of the French Republic to the Sultanate, Al Nu'man Order (First Class), in appreciation of his remarkable efforts to promote bilateral relations.." Complete report..

                                                                                                          Back to top

News - Qatar

WOMAN TO LEAD QATAR'S BIGGEST MEDICAL FOUNDATION
"Qatar has named Latifa Ibrahim Al Huti, Chairperson of the board of the Hamad Medical Foundation, the largest medical institution in the emirate.. ..Several women have been named to key posts in Qatar in recent years.." Complete report..

CARNEGIE MELLON UNIVERSITY EYEING QATAR BRANCH
"Carnegie Mellon University is looking east -- specifically to the Middle East -- for new students. By next month, the Pittsburgh University expects to announce a pact for it to open an undergraduate school for business and computer students in the Persian Gulf sheikdom of Qatar.." Complete report..

SUDAN RELEASES DETAINED AL-JAZEERA CORRESPONDENT
"Sudanese authorities released [Dec 24] the Al-Jazeera television correspondent they detained in Khartoum last week, accusing him and his company of spreading false information, the Qatar-based channel said.. ..The channel did not specify if the authorities had allowed its Khartoum bureau to re-open after shutting it down [Dec 24].." Complete report..

                                                                                                      Back to top

News - Saudi Arabia

SAUDI TERROR CRACKDOWN TO BE TESTED
"Saudi Arabia's crackdown on terrorism will be tested as militant Islamic groups apparently shift focus from foreign to domestic targets, officials and diplomats in the kingdom say. The shift was underscored on December 4 when a group called the Two Holy Mosques Brigade claimed to have shot Brigadier General Abdulaziz al-Huwairini.. ..The group has since declared in a statement that 'since our brothers in al-Qaeda are busy fighting the crusaders, we took it upon ourselves to cleanse the land of the two holy mosques of the crusaders' agents' - a reference to the Saudi government. Experts conclude from this that parallel groups may be active in Saudi Arabia, with varying ties to al-Qaeda.." Complete report..
~~GulfWire Link~~
AMBASSADOR DISCUSSES SAUDI, U.S. FIGHT ON TERROR - GWD Nov 24, 2003

GROUP OPPOSES SAUDI ARABIA ACCOUNTABILITY ACT
"..The bill seeks to place sanctions against the kingdom for not cooperating with the United States in the war on terror. 'The reality is, the kingdom is in a daily battle against terrorism and has cooperated fully with the United States in combating terrorism,' says the Saudi-American Forum.." Complete report..

SAUDI ARABIA AND UNITED STATES MAKE JOINT DESIGNATION ON TERROR FINANCING
"Saudi Arabia and the United States have taken steps to designate two organizations as financiers of terrorism under United Nations Security Council Resolution 1267 (1999).  These organizations are the Bosnia-based Vazir and the Liechtenstein-based Hochburg AG.. ..Saudi Arabia and the United States recently formed a special task force focusing on terror financing.  Through this task force, Saudi and U.S. law enforcement and intelligence officials work side by side in ongoing terror financing investigations.." Complete report..

TERROR CASH TRACED TO ILLEGAL CHARITY BOXES
"Large quantities of cash discovered on some of the suspects who were captured as part of a campaign to uproot terrorism came from unauthorized charity boxes, an Interior Ministry spokesman said.. ..'The terrorists were collecting the money from those boxes that were being put in mosques, colleges, schools and markets and carried pictures of war victims,' Al-Musaibeeh added.." Complete report..
~~GulfWire Link~~
CHARITY COLLECTION BOXES BANNED - GWD Sep 22, 2003

SAUDI ARRESTS FIVE AFTER SEIZING BOMB-MAKING CDS
"Saudi authorities, facing a wave of militant attacks, have arrested five people after raiding computer shops selling compact disks containing hidden bomb-making instructions.. ..Police were questioning four owners of computer shops in the southern Jazan region and a fifth person believed to have supplied the CDs to the shops, Al-Watan newspaper said. Officials were not immediately available for comment.." Complete report..
~~GulfWire Link~~
ABDULLAH VOWS TO FINISH OFF TERRORISTS - GWD Nov 10, 2003

KINGDOM WILL NOT DISCUSS IRAQI DEBT WRITE-OFF WITH GOVERNING COUNCIL: SAUD
"Saudi Arabia will not discuss any loan write-offs with Iraq's interim US-appointed government, Foreign Minister Prince Saud Al-Faisal said [Dec 23].  He said the Kingdom would wait until Iraq had an independent government before looking into the possibility of reducing the debt.. ..Financial analysts estimate Iraq's debt at $108-$123 billion, but that could rise to as much as $166 billion if compensation claims for Baghdad's invasion of Kuwait are included - more if Iran seeks compensation for an earlier invasion by Iraq.." Complete report..

KINGDOM, US TALKS ON WTO MAKE PROGRESS
"Saudi Arabia is in the advanced stages of negotiations with the United States and is looking to enact legislation bringing the Kingdom in line with the regulations and standards of the World Trade Organization.. ..Fawaz Al-Alamy, deputy minister of commerce and industry and head of the negotiating team for the accession of Saudi Arabia to the WTO..  'Most of the issues in the area of goods and services have been resolved.. I can say that we are fairly close in our negotiations with the United States,'.." Complete report..
~~GulfWire Link~~
GCC INSIGHTS: SAUDI ARABIA'S ENTRY INTO WTO ALL SET - GWD Sep 8, 2003

SAUDI CREATES NEW MINISTER TO BOOST SHURA COUNCIL
"Saudi Arabia, under pressure to reform its political system, has created a new cabinet portfolio to boost the role of the unelected parliament. The creation of the post was part of a process of 'organizational reforms' in the kingdom; the newly appointed Minister of State for Shura Council Affairs Saud al-Mathami was quoted as saying in the daily Okaz on [Dec 24].. ..'I don't have any doubt that in the future we'll have elections, at various levels including the Shura Council," he said, pointing to a series of reforms in recent months.." Complete report..
Also:
NEW MINISTER STRESSES NEED FOR GREATER CABINET-SHOURA COORDINATION
~~GulfWire Link~~
ELECTIONS IN A YEAR - GWD Oct 20, 2003
BIN-HUMAID WELCOMES DECISION TO EMPOWER SHOURA COUNCIL - GWD Dec 15, 2003

SAUD CALLS FOR POPULAR PARTICIPATION IN POLITICS
"Saudi Foreign Minister Prince Saud Al Faisal has spoken out strongly in favor of political reform. He spoke of the need for more popular participation in politics, willingness to criticize and identify weaknesses, and a recognition that the modern Arab states cannot rely on their traditional family structures to handle the modern world.. ..He added the need for internal reform has to be linked with the need to change the Arab situation and adopt a different attitude to the world not based on misconceptions that we are continually being exploited.." Complete report..
Also:
KINGDOM COMMITTED TO REFORMS: PRINCE SAUD
~~GulfWire Link~~
BANDAR COUNSELS PATIENCE ON REFORMS - GWD Dec 15, 2003

SAUDIS PETITION FOR SPEEDY REFORM
"Some 100 leading Saudi Arabians have signed a petition urging the government to speed up political reform. The document, sent to Crown Prince Abdullah, is said to partly blame Islamic militancy on the lack of popular participation in politics. It is said to repeat calls for an elected parliament, an independent judiciary and equal rights for women. A leading reformer.. ..said they wanted the ruling family to give up some of its absolute powers, to turn Saudi Arabia into a constitutional monarchy, similar to Jordan or Bahrain.." Complete report..
~~GulfWire Link~~
SAUDI GROUP PRESSES CROWN PRINCE FOR REFORM - GWD Jun 23, 2003

KINGDOM TO EMBARK ON MAJOR PRIVATIZATION PROGRAM
"Saudi Arabia, which hold the world's largest proven crude oil reserves and is going through political and economic reforms, enjoys a strong trade surplus largely due to its oil exports. Buoyed by improving macroeconomic parameters, the Saudi Market TASI index has outperformed most other global indices. The Kingdom has been recording a current account surplus since 1999. The monetary policy regulated by the Saudi Arabian Monetary Agency (SAMA) has been yielding fruitful results.." Complete report..
~~GulfWire Link~~
SAUDI PRIVATIZATION PACE SLAMMED - GWD Nov 3, 2003

TEMPORARY BAN ON IMPORT OF US BEEF PRODUCTS
"The Ministry of Commerce has warned customs laboratories at all entry points into the Kingdom of the recent discovery of suspected cases of mad cow disease in the United States.. ..Officials say the warning is tantamount to a temporary ban on all imports of American fresh or frozen beef products as well as live cattle until they have been cleared for human consumption. Saudi Arabia imports 70,000 tons of beef from America every year. The total value of imports ranges from SR500 ($133) million to SR1 ($266) billion.." Complete report..
Also:
TRADERS: 85% OF US BEEF IMPORTS IS FOR RE-EXPORT

ACCOUNT HOLDERS TOLD TO UPDATE PERSONAL INFO BEFORE [DEC 31]
"Many people face having their bank accounts frozen or even closed if they fail to comply with the Saudi Arabian Monetary Agency (SAMA) directive. The directive fixes Dec. 31 as the cut-off date for account holders to update personal information with their banks. There are more than three million account holders with different types of accounts in the Kingdom's nine commercial banks.." Complete report.. 
~~GulfWire Link~~
SAMA INITIATES ACTION TO CURB ILLEGAL MONEY TRANSACTIONS - GWD Jul 7, 2003

HOUSING COMPOUNDS LOSE THEIR ALLURE
"Housing compounds have incurred huge losses due to terrorist threats, especially after the blasts in Riyadh in May and November. Economists have estimated that housing compounds in Riyadh alone may have suffered losses of nearly SR400 million.. ..Housing compounds were once considered the safest option with a plethora of facilities but now foreigners consider them high-risk.." Complete report..
~~GulfWire Link~~
UNPRECEDENTED SECURITY AT RIYADH COMPOUNDS - GWD Nov 17, 2003

SCHEME FOR TRAINING SAUDI NURSES LAUNCHED
"In a move to cut reliance on expatriate nurses in hospitals and clinics in the Kingdom, a national scheme for training Saudi nurses and awarding nursing diplomas to Saudi girls has been established by the Armed Forces Medical Services Department.. ..The move is intended to phase out expatriate nurses. More than 90 percent of nurses working in the country today are non-Saudis. The officials said that more nursing colleges were needed to train Saudi nurses.." Complete report..

ALVAREZ ALARMED AT SAFETY OF OFW'S IN SAUDI ARABIA
"Presidential adviser for overseas Filipino communities Heherson Alvarez has expressed alarm over the safety of thousands of Filipino workers in Saudi Arabia.  Alvarez asked the Department of Foreign Affairs (DFA) to coordinate with the Department of Labor and Employment in drawing up contingency plans through the embassy and consulates in Saudi Arabia to help Filipino workers when the threat of terrorism worsens. There are over 600,000 Filipino workers deployed in Saudi Arabia.." Complete report..

HAJJ: SAUDI ARABIA PEGS JANUARY DEADLINE FOR VISAS
"Minister of State Foreign Affairs, Mallam Saidu Balarabe, has advised all intending pilgrims to Saudi Arabia for the 2004 Hajj to ensure they present their visa requirements latest January 17, 2004 in order to avoid last minute rush.. ..Mallam Balarabe stressing that no latecomers will be entertained after the expiration of the January 17 deadline also advised pilgrims who purchased their travel documents through Federal Government approved tour operators to obtain their visas through the same operators.." Complete report..

ARBAEEN LAGOON TO BECOME SITE OF AMUSEMENT PARK
"The Arbaeen Lagoon, seen locally as an eyesore, is to be transformed into a site of an amusement park and leisure center. The Kazaa Saudi company has contracted work to begin on the project - estimated at around SR150 ($40) million - in the next few months.. ..When completed, the development is intended to operate as a stand-alone leisure center while enhancing the downtown area of Jeddah and attracting visitors. The project will take an estimated two years to complete.." Complete report..

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News - UAE

DROP IN UAE QUOTA SPURS BIG RUSH OF PILGRIMS
"The Saudi government has reportedly asked the UAE to send a smaller number of pilgrims this year, which has created a rush of people at Haj agencies.. ..The UAE quota this year is 23,000 which is 900 less than last year. This has resulted in cutting down the number of pilgrims allocated to each agency in Abu Dhabi, Dubai and Northern Emirates.." Complete report..

BBC WORLD WINS ZAYED PRIZE FOR ENVIRONMENT
"BBC World has been awarded the $500,000 Zayed International Prize for the Environment.. ..the award was in recognition of the distinctive leadership influencing international, regional and local policies, concepts and media and education programs in environment and sustainable development fields.." Complete report..

BRIDGING THE GENDER DIVIDE
"UAE women [Dec 23] took a major step forward in their long-standing drive to tear down barriers preventing them from taking part in decision-making on par with men. The General Women's Union (GWU) demanded their political rights in an official document presented to a symposium organized by the Ministry of Foreign Affairs and attended by several female intellectuals from the UAE and other Gulf countries. Her Highness Sheikha Fatima bint Mubarak.. ..blessed the 80-page document entitled 'The National Strategy for the Progress and Development of UAE Women'.." Complete report..
~~GulfWire Link~~
EDUCATION HAS BEEN A KEY FOR WOMEN EMPOWERMENT - GWD May 19, 2003

SPOTLIGHT ON WOMEN'S ROLE IN POLITICS
"Female intellectuals and diplomats from the UAE, other Gulf states and the United Nations will speak at the seminar to be held at the foreign ministry's Emirates Institute of Diplomacy (EID). It coincides with growing signs that the local women could finally be admitted into the Federal National Council for the first time following calls for an active female political role.. .. Today's symposium, entitled 'Women and Politics' is co-organized by EID.." Complete report..
~~GulfWire Link~~
WOMEN'S COMMITTEE TO BE SET UP AT GCC KUWAIT SUMMIT - GWD Nov 3, 2003

FINDING A PLACE FOR ECOTOURISM IN THE UAE
"Few of us associate leisure tourism with environmental degradation.. .. Tourism's environmental impacts are mounting. Underestimated in the past, these are causing concern now because so many sites around the world have been spoilt; many times, resulting in destruction of the very attraction that draws people to a place.. ..And now, it's happening in the Gulf countries.." Complete report..

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Link of the Week / GulfWire Flashback - Four Years of GW

 

LINK OF THE WEEK

GCC SECRETARY GENERAL

 

<<ONE YEAR AGO>>
GULFWIRE DIGEST (#177) WEEK OF DEC 30, 2002

THE SAUDIS' FIGHT TOO
"Saudi-bashing has become Washington's most popular sport. More than six decades of partnership, strong trade relations and wide-ranging strategic cooperation are being trampled in an ugly blame game... ...Any doubt that we're on the same side in this war should be laid to rest by the fact that in the past few months alone, al Qaeda has launched several major terrorist plots against Saudi government facilities and infrastructure.. ..the Saudi General Intelligence Directorate (GID) and the General Security Service (GSS) have worked closely with their U.S. counterparts..." 

<<TWO YEARS AGO>>
GULFWIRE DIGEST (#128) WEEK OF DEC 31, 2001

GCC AGREES ON CUSTOMS UNION, SINGLE CURRENCY
"Leaders of the six-nation Gulf Cooperation Council (GCC) [Dec. 31] took a major step toward economic union and signed an agreement based on joint customs tariffs in 2003 and a single market and currency by 2010. The Gulf states also decided to increase their joint defense force to 20,000 men and strongly condemned terrorism in the aftermath of the Sept. 11 attacks in the United States.."

<<THREE YEARS AGO>>
GULFWIRE DIGEST (#78) WEEK OF JAN 1, 2001

ARAB GULF STATES SEAL JOINT DEFENSE PACT 
"The pact commits the Gulf Cooperation Council member states to defend any member state victim of an external threat or danger.. The pact was to have been signed in November 1999, but defense ministers of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, their meeting in Dubai, broke up without putting their names to any agreement. Bahrain's Emir Sheikh Hamad bin Issa Al-Khalifa opened the 21st GCC summit Friday with a call for the 'development of cooperation in defense issues, which is a guarantee for the security and stability of GCC countries and their peoples.' The GCC has approved a 70 million-dollar telecommunications project to link the military headquarters of all six countries but has yet to implement the plan, and is also examining a radar network project worth 88 million dollars.."

<<FOUR YEARS AGO>>
GULFWIRE DIGEST (#25) WEEK OF DEC 27, 2000

HAPPY NEW YEAR/Y2K BUG NOTE
"..This edition of GulfWire contains several articles dealing with [information] revolution.  From proliferation of wireless, satellite telephony in the Gulf region to the use of web based technologies to improve credit card services in the UAE and air cargo tracking in Bahrain, we are irreversibly caught in a transformation that has and will continue to change the nature of business, politics, defense and society. As we pass the 01.01.00 milestone (and the Y2K bug speed bump) GulfWire will continue to focus on both the details and the larger views of the information revolution (and its impact on the Gulf region) in our effort to give you the information tools you need in your Gulf related enterprise.."

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Business - Region

[GulfWire] ENERGY FUTURES - 12.26.03
Light Crude (NYM) $32.86 bbl DOWN from $33.02 bbl on 12.19.03
Brent Crude (IPE) $29.06 bbl DOWN from $30.05 bbl on 12.19.03
Heating Oil (NYM) $.9188 gal DOWN from $.9465 gal on 12.19.03
Natural Gas (NYM) $6.392 mmbtu DOWN from $7.023 mmbtu on 12.19.03
Unleaded Gas (NYM) $.9249 gal UP from $.9197 gal on 12.19.03 
Source: CNNfn

 

OPEC Price Band (Source: EIA, DOE)
The Best Energy Resource in the World:
Country Analysis Briefs
by DOE/EIA

   ENERGY INFO RESOURCE 
           

INCOMING OPEC CHIEF VOICES CONCERN OVER HIGH OIL PRICES
"Oil prices tumbled further from nine-month highs yesterday as OPEC's incoming president voiced concerns over sustained high prices.. ..OPEC's incoming president added to the more bearish tone by expressing concern over high prices.. ..'Currently the oil prices is too high, especially the OPEC basket. We hope the oil price will fall in January. However, the price developments will depend on the weather and also depend on developments in Iraq,' Indonesian Oil Minister Purnomo Yusgiantoro, due to take office on January 1, said.." Complete report.. 
OPEC KEEPING PRICES TOO HIGH: IEA - GWD Nov 10, 2003

KUWAIT WARNS EXCESS SUPPLIES COULD DAMPEN OIL PRICE
"Kuwait warned [Dec 24] that an estimated two million barrels of excess daily supplies could next year push oil prices even below the lower limit of OPEC's price band of 22-28 dollars a barrel. 'World production exceeds demand by more than 900,000 barrels a day'.. ..As a result of this huge surplus, oil prices are expected to drop and fluctuate especially in the second quarter of next year when world demand drops, Sheikh Ahmad told reporters. The minister's warning came as crude prices continued to hold strong on Christmas eve and before the publication of weekly US stock estimates.." Complete report..
~~GulfWire Link~~
OPEC MAY HIKE OUTPUT IF OIL PRICE STAYS ABOVE $28 A BARREL - GWD Oct 20, 2003

LOWER ARAB DEFENSE SPENDING WILL SPUR GROWTH
"Arab states seem to be treading cautiously into a new era of lower military spending following decades of lavishing on arms at the expense of economic development. The end of the Saddam regime in Iraq and Libya's surprise decision to scrap its weapons of mass destruction programs have put the region on the threshold of better use of funds and could pave the way to an end of a hectic arms race.. ..Arab states are among the biggest defense spenders in the world as their military and security allocations are sapping more than a quarter of their total annual budgets.." Complete report..
~~GulfWire Link~~
HI-TECH DEFENSE SYSTEM FOR GULF UNDER STUDY - GWD Dec 8, 2003

TRIP AIMS TO BOOST MID-EAST TRADE
"Bilateral trade and promotion of agriculture will be the focus of a West Australian delegation to the Middle East in January. The delegation, to be led by WA Agriculture Minister Kim Chance, will spend three weeks visiting the United Arab Emirates, Oman, Kuwait, Jordan, Syria and Egypt.. ..The minister will also sign two key Memorandums of Understanding (MOU) with Kuwait and Jordan.." Complete report..
~~GulfWire Link~~
AUSTRALIAN TRADE MINISTER IN SAUDI ARABIA - GWD Dec 15, 2003

ACTS SIGNED TO SPUR BAHRAIN-SAUDI TRADE
"Two agreements were signed [Dec 23] between Bahrain and Saudi Arabia, which should significantly strengthen ties between the two countries. The first pact is about the establishment of a joint Bahraini-Saudi Businessmen's Council, while the second focuses on enhanced bilateral co-operation.. ..The total volume of trade between Bahrain and Saudi Arabia stood at BD212 ($562) million last year.." Complete report..
Also:
BAHRAIN, SAUDI ARABIA SIGN DEALS FOR GREATER COOPERATION

AWCC PLANS HEADQUARTERS IN KINGDOM
"The Arab World Chamber of Commerce (AWCC) is negotiating to set up world headquarters in the Saudi Arabia.. ..Negotiations are taking place with a high-profile Saudi sponsor team to set up the world headquarters in Riyadh by as early as Feb. 1, 2004. "The significant characteristics of the Chamber will be to concentrate efforts on developing the private sector, international trade facilitation and encouraging foreign direct investment into the region," said Michael Muhammad Abdullah Brittingham, the AWCC chairman.." Complete report..
Also:
ARAB WORLD CHAMBER OF COMMERCE TO SET UP HEADQUARTERS IN RIYADH

KUWAIT-SAUDI NEUTRAL ZONE OIL OUTPUT AT 270,000 BPD
"Crude oil production from the offshore Khafji oilfields in the neutral zone between Kuwait and Saudi Arabia is currently running at 270,000 barrels per day (bpd).. ..The offshore zone was previously run by Japan's Arabian Oil Co., but it is now under Kuwait-Saudi joint operation.." Complete report..
~~GulfWire Link~~
NEUTRAL ZONE CONCESSION TURNOVER - GWD Feb. 21, 2000

4TH MIDDLE EAST IT SECURITY ROADSHOW TO TAKE PLACE IN JANUARY
"The fourth Middle East IT Security Road show will be held in Saudi Arabia, Kuwait, Qatar and Bahrain in January. The event will provide participants with highly relevant commercial intelligence relating to the Middle East's corporate e-security needs.. ..Registration is complimentary for qualifying professionals.." Complete report..

SAUDI-BAHRAINI BILATERAL TRADE UP TO $562.3 MILLION IN 2002
"The bilateral trade between Saudi Arabia and Bahrain grew to BD212 million ($562.3 million) in 2002, and is expected to surge higher by the end of this year.. ..A Saudi delegation due to visit Bahrain soon will sign various agreements with Bahrain for the establishment of Bahrain-Saudi Business Council and enhancing cooperation in trade, commerce and investment sectors.." Complete report..

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Business - Bahrain

INDIA GROUP EYES BAHRAIN GATEWAY
"India's giant Birla group is to make Bahrain the gateway for its Gulf operations.. ..The Birla Institute of Technology International Center (BITIC) will be expanded with more job-oriented courses, said Ganga Prasad Birla, 82, who arrived in Bahrain [Dec 24], leading a 12-member delegation.." Complete report..

MANAMA TO HOST INSURANCE FORUM
"The massive growth opportunities in the region's currently untapped market will be the focus of the Middle East Insurance Forum, being held on Jan. 18 and 19, 2004. According to experts, the Middle East insurance market is expected to grow six-fold to $44 billion in the next six years. A number of Saudi insurance companies are expected to participate in the conference in Manama.." Complete report..

SHARES RISE IN BAHRAIN
"The Bahrain Stock Exchange index [Dec 25] closed at 2,333.69 points, marking an increase of 5.42 points over the previous closing.. ..This increase was due to the rise in the commercial banks, insurance and the service sectors.." Complete report..

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Business - Kuwait

MOODY'S ISSUES ANNUAL REPORT ON KUWAIT
"Kuwait's A2/P1 ratings reflect the country's ability to develop and manage its abundant oil resources, says Moody's Investors Service in its annual credit report on Kuwait. The Fund for Future Generations (FFG), designed to provide for the country when its oil runs out, is currently valued at approximately $65 billion, while the government has no foreign currency debt outstanding and has a government debt level comparable to its peers in the A2 rating category.." Complete report..

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Business - Oman

CITIGROUP TO SHUT OMAN OPERATIONS DOWN
"Financial services giant Citigroup decided to close down its operations in Oman following a review carried out by the bank.. ..Rumors of the exit have circulated for a while. BankMuscat, the largest bank in Oman with about one-third of the market, recently acquired Citibank's personal loan portfolio in Muscat.." Complete report..

OMAN SEEKS JOINT INVESTMENT FROM PTT
"The government of Oman has extended a joint investment offer to PTT Plc for the third phase of its liquefied natural gas (LNG) production and distribution network.. ..PTT Exploration and Production Plc, a PTT subsidiary, has already invested in an onshore petroleum concession in Oman.." Complete report..

OMAN'S GAS RESERVES SEEN AT 30TCF: MACKI
"Ahmed bin Abdulnabi Macki, minister of national economy and deputy chairman of the Financial Affairs and Energy Resources Council, has said that Oman's gas reserves are estimated at 30 trillion cubic feet.. ..Oman has signed a new LNG contract with one of the major Spanish utility companies - Union Fenosa - for approximately half of the capacity of QLNG.. ..LNG is set to become Oman's major non-oil earner and expected to generate $24 billion over the next 25 years.." Complete report..

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Business - Qatar

QATAR AIRWAYS SIGNS DEAL WITH MAJOR RESERVATION FIRM IN JAPAN
"Qatar Airways has signed an agreement with the global reservation company Infini to allow customers in Japan to book seats on Qatar Airways flights through more than 6,000 travel agencies. 'Infini is one of the largest seat reservation systems that operates in Japan and offers Qatar Airways direct exposure to the large Japanese market,' said Qatar Airways Chief Executive Officer Akbar Al Baker [Dec 23].." Complete report.. 

WATER RESEARCH PLANT TO COME UP IN DUKHAN
"Qatar Electricity and Water Company (QEWC) yesterday signed a Memorandum of Understanding (MoU) with the Water Reuse Promotion Centre (WRPC) of Japan to build an experimental desalination plant at Dukhan at an estimated cost of QR18m.. ..It is expected that once the plant's operations prove successful, the technology to produce potable water from seawater will find large-scale application in the Gulf countries.." Complete report..

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Business - Saudi Arabia

KINGDOM'S BANKS FLOATING ON HUGE LIQUIDITY
"Saudi Arabia has a strong banking structure and specialized financial institutions, thanks to the Saudi Arabian Monetary Agency (SAMA) that supervises both sectors. The cumulative assets of the Kingdom's commercial banks have recorded growth. Banks have comfortable liquidity levels and their asset quality is also good.. ..These are among the highlights of the Kuwait-based Global Investment House's (GIH) third report on the Economic & Strategic Outlook of the Kingdom.." Complete report..
~~GulfWire Link~~
SAUDI BANKS SET TO MAKE RECORD PROFITS THIS YEAR - GWD Dec 15, 2003

SAUDI ARABIA IN 2004
"A new report from the Global Investment House looks at the economic outlook for Saudi Arabia in 2004. Saudi Arabia's economy has recorded moderate growth in the last couple of years. After posting a strong growth in 2000, the growth rate has slowed down in the last couple of years.." Complete report..

SAUDI ECONOMY TO SHRINK IN 2004
"A projected drop in oil prices and output next year is expected to reverse the economic euphoria in Saudi Arabia as the GDP will likely contract in nominal terms.. ..'Our expectations are that the Saudi private sector will grow in 2004 but the oil and the government sectors will shrink due to lower output and prices,' Saeed Al Shaikh, chief economist at the National Commercial Bank, said [Dec 24]. This means overall GDP will contract next year although some consider the 2004 budget as expansionary.." Complete report..

SEDC WANTS TO BUILD HUGE WAREHOUSE ON YEMEN BORDER
"The Saudi Exports Development Center wants to set up a warehouse on the Kingdom's border with Yemen to ensure free flow of goods to the neighboring Arab country.. ..the proposed warehouse, near Najran, would help increase Saudi Arabia's already growing exports to Yemen threefold. The Kingdom's exports to Yemen jumped from SR580 ($154) million in 2000 to SR888 ($236) million in 2001.." Complete report..

MAKKAH'S JABAL OMAR PROJECT TO COST SR12 BILLION: FAQEEH
"Plans are under way to construct a number of residential towers on Jabal Omar, a mountainous area close to the Grand Mosque. The towers will accommodate 34,500 pilgrims.. ..The project will create prayer areas for 78,000 worshipers and will be linked to the Grand Mosque's sound system.." Complete report..

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Business - UAE

FS AND DENARO SIGN $47M FUEL VAPOR RECOVERY SYSTEM DEAL
"Dubai-based FS International has signed a $47 million joint venture with Denaro International of the US for the sale and installation of the world's most advanced fuel vapor recovery systems.. ..Takamaro Toyooka, president of Denaro Japan, said the amount of gasoline lost to gas companies through evaporation has been estimated at more than $10 million every year.." Complete report..

MOVE TO CONVERT MEB INTO ISLAMIC BANK LIKELY TO GET SUPPORT
"A move to convert the Middle East Bank (MEB) to an Islamic bank looks likely to win the support of the board of the Emirates Bank Group (EBG).. ..Anis Al Jallaf, the managing director and chief executive of EBG.. ..acknowledged that Islamic finance is gaining momentum in the market and an Islamic bank makes better business sense for the EBG group, which has a full-fledged retail banking operations called meBank, and investment banking arm, Emirates Financial Services.." Complete report..

ABU DHABI STARTS LEVYING ANNUAL FEE FOR STOCKBROKERS
"Abu Dhabi's stock market has joined Dubai's bourse in levying annual fees of Dh180,000 ($49,000) along with its existing commission from brokers in return for logistic and administrative services.. ..The Abu Dhabi Securities Market (ADSM) has just told the emirate's 12 stockbrokers they have two weeks to pay the fee and warned of stiff penalties against defaulters.." Complete report..

DUBAI LAND TRANSACTIONS JUMP 27PC
"There has been a hefty 27 percent jump in transactions with the Dubai Lands Department, with total value soaring to Dh5.61 ($1.52) billion this year from Dh4.4 ($1.19) billion previously.. .. said Sultan bin Butti Mejrin, assistant deputy director of the department.. ..The number of land transactions this year is the highest since 1998. 'We have cases of traders who buy a piece of land for Dh11 ($2.99) million and sell it the next day for Dh17 ($4.62) million, which is amazing,'.." Complete report..

ABRA STATIONS, BREAKWATERS AMONG DH30M COASTAL PROJECTS
"The coastline of Dubai is set to be the focus of maintenance projects costing Dh30 ($8.16) million, ranging from waterbus stations to breakwaters. Money has already been spent on surveys for the work, which reflects Dubai's close relationship with the sea and the importance of Dubai Creek.. ..Groundwork and planning started in early August and it is expected to be ready in March 2005. Designs alone cost the municipality more than Dh2 ($.54) million.." Complete report..

AIRLINES POISED TO PUSH UP FREIGHT CHARGES
"Having been given the green light by the Dubai Department of Civil Aviation, 55 airlines operating through the UAE will raise freight charges from January 1 to reflect fuel and security surcharges. The fuel surcharge alone will make air cargo from the UAE to the Indian subcontinent and GCC countries around five to six per cent more expensive. The costs to other destinations could rise by as much as ten per cent per kilo.." Complete report..

ROYAL BRUNEI CUTS FARES TO DUBAI TO SUPPORT DSF
"In support of the Dubai Shopping Festival 2004, Royal Brunei Airlines has announced a new set of reduced fares from popular international destinations to Dubai along with a special offer of one free seat with every ticket bought in First and Business classes.. ..area manager for the Middle East and Indian Subcontinent, said it was one of the airline's ways of supporting the country's world famous shopping, tourism and entertainment extravaganza.." Complete report..
~~GulfWire Link~~
UAE RECEIVES BRUNEI'S DECISION ON FREE-ENTRY OF UAE CITIZENS - GWD Dec 22, 2003

VIVENDI-MITSUI ALLIANCE SECURES ADWEA CONTRACT
"A French-Japanese alliance has been selected by the Abu Dhabi Water and Electricity Authority (ADWEA) as the developer for the Taweelah RO (reverse osmosis), the first independent water project (IWP) in the country.. ..As the first IWP in the UAE, the Taweelah RO will be a 50 million gallons per day plant near the Taweelah complex.." Complete report..

AUTUMN FAIR GETS MORE EXHIBITORS
"Underscoring the continuing buoyancy of the consumer goods trade in the UAE and the region in general, the 18th edition of the annual five-day International Autumn Trade Fair 2004 (IATF04) will run from January 10-14 at the Dubai International Exhibition Centre with a 10 per cent increase in exhibitor turn-out compared with last year.. ..525 exhibitors from 25 countries have confirmed participation, compared with last year's 471 exhibitors from 23 countries.." Complete report..

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