ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

2.3.12 EDITION

The Saudi Industrial Property Authority – Modon: SUSRIS

2/2/12

This week Dr. Tawfiq Al-Rabiah, the new Minister of Commerce and Industry, in his role as Chairman of Modon’s Board of Directors, signed contracts valued at $186 million for electrical infrastructure at five of Saudi Arabia’s industrial cities. Newly named Director General Saleh Al-Rasheed told Arab News that Modon’s next project will focus on the completion of services and infrastructure, so that the existing industrial cities that are under development become integrated services cities.

Saudi Leads Online Jobs Boom With 56% Growth: ARABIAN BUSINESS

Andy Sambidge | 2/3/12

Saudi Arabia has posted 56 percent growth in online job opportunities over the past year, while Oman saw a 12 percent decline, according to the Monster Employment Index.

Invest in Saudi Arabia: MARKETWATCH

2/3/12

Saudi Arabia is further opening its investment markets to foreigners — and the word is: buy.

With strong fundamentals, little to no debt, and effective dividends, Saudi companies are compelling investment opportunities. But that’s not all. Saudi Arabia is going big into the solar and water industries — and there will be myriad ways to capitalize on making the kingdom more sustainable.

Fairs Make Job Search Easier: ARAB NEWS

Reuters | 2/3/12

In a cavernous exhibition hall on the outskirts of Riyadh, dozens of young Saudi women stroll between corporate booths in search of jobs. Each has completed a 3-1/2 hour aptitude test that gives her scores for 10 behavioral characteristics and two types of cognitive ability. The results are shown to as many as 81 potential employers which schedule job interviews using a centralized, online system.  It is Women’s Day at the first of a series of job fairs launched by the Saudi government this year to find employment for its citizens. In coming months the scheme aims to arrange interviews for 15,000 men and women out of 100,000 applicants, holding similar fairs in the cities of Jeddah and Dammam.

Hyatt Soon to Dominate High-End Hotels in Saudi Arabia: MARKET WATCH

1/2/12

Hyatt Announces Plans for Three New Hotels in the Kingdom of Saudi Arabia; Agreements for Park Hyatt Riyadh, Grand Hyatt Jeddah, and Hyatt Regency Jeddah Bring Total to Six Hotels under Development in Saudi Arabia.

Saudis Set to Tap Fuel Oil Boom with Latest Pricing for Crude: BLOOMBERG

2/3/12

Saudi Arabia, the world’s biggest oil exporter, is poised to raise the price of its lowest-quality crude to the most in almost two years relative to the top grade as it benefits from the rising cost of shipping fuel.

Saudi Contribution to IMF Faces Tough Sell: GULF NEWS

2/3/12

International Monetary Fund managing director Christine Lagarde faces a tough but not impossible sell when she visits Saudi Arabia today to discuss a contribution from the oil-rich kingdom to the IMF’s $500 billion (Dh1.83 trillion) fundraising effort to fight the European debt crisis.

Saudi Arabia: USCIRF Urges Release of Prisoners: U.S. COMMISSION ON RELIGIOUS FREEDOM

2/2/12

The U.S. Commission on International Religious Freedom (USCIRF) today called for the immediate release of 35 Ethiopian Christians who have been detained by Saudi Arabian police since December 15, allegedly for participating in a private religious gathering.

System Will Link GCC to Manpower-Exporting States: ARAB NEWS

Md Rasooldeen | 2/3/12

Prospective Gulf workers’ medical reports issued from 11 manpower exporting countries will be linked electronically to the GCC health ministers’ secretariat and to countries in the region.

Saudi Arabia Tanker Load Capacity Gains 22%, Ship Data Show: BLOOMBERG

Rob Sheridan | 2/3/12

The carrying capacity of oil tankers that docked at Ras Tanura, Saudi Arabia’s biggest crude-loading port, gained 22 percent in the latest week, according to ship- tracking data compiled by Bloomberg.

Are Men Afraid Of Women’s Success?: SAUDI GAZETTE

2/3/12

We all agree that women have proved themselves in fields such as education despite the many obstacles they encounter. One of the main obstacles is being deprived of their rights to continue education or work. It is generally accepted that it is the male authority which tries to deprive women of these rights.

IRAN: U.S. OFFICIALS CONCERNED BY ISRAEL STATEMENTS ON IRAN THREAT, POSSIBLE STRIKE

Israeli leaders on Thursday delivered one of the bluntest warnings to date of possible airstrikes against Iranian nuclear sites, adding to the anxiety in Western capitals that a surprise attack by Israel could spark a broader military conflict in the Middle East.

Defense Minister Ehud Barak, speaking at a security forum attended by some of Israel’s top intelligence and military leaders, declared that time was running out for stopping Iran’s nuclear advance, as the country’s uranium facilities disappear into newly constructed mountain bunkers, Joel Greenberg and Joby Warrick (Washington Post) report. IRAN’S SUPREME LEADER THREATENS RETALIATION AGAINST ATTACK: The supreme leader of Iran vowed on Friday to retaliate over oil sanctions and threats of military action by the West to stop Iran’s nuclear program, warning that the United States in particular would face severe damage to its interests if any strike were carried out against its nuclear sites, J. David Goodman (NYT) reports. EFFORT TO REBRAND ARAB SPRING BACKFIRES IN IRAN: It was meant to be a crowning moment in which Iran put its own Islamic stamp on the Arab Spring. More than a thousand young activists were flown here earlier this week (at government expense) for a conference on “the Islamic Awakening,” Tehran’s effort to rebrand the popular Arab uprisings of the past year, Robert F. Worth (NYT) writes.

EGYPT: PROTESTS ESCALATE AFTER DEADLY RIOT
Violent clashes reignited in Egypt on Friday between police and protesters angered by reports of inadequate security at a soccer match that devolved into a riot this week, leaving 79 people dead, Mohamed Fadel Fahmy (CNN) reports. AFTERMATH: WHERE TO PIN BLAME? Many of Egypt’s liberal youth activists quickly pinned the blame on a military-orchestrated conspiracy. “SCAF [the Supreme Council of the Armed Forces] is trying to manipulate people into begging for the reinstatement of the Emergency Law again,” activist Ahmad Aggour tweeted hours after the violence erupted on national news. Others questioned how a police force so notorious for its use of brutality against protesters — and in securing government buildings — had proved unable to stop a rampage in a soccer stadium, Abigail Hauslohner (TIME) writes.  TWO AMERICANS KIDNAPPED: Bedouin gunmen intercepted a tourist minivan and snatched two female American tourists and their Egyptian guide at gunpoint Friday near St. Catherine’s Monastery in the Sinai Peninsula, the region’s security chief said, CBS news reports.

SYRIA: US ‘CAUTIOUSLY OPTIMISTIC’ OF STRONG SUPPORT FOR NEW UN RESOLUTION ON SYRIA

A senior State Department official said Friday the U.S. is “cautiously optimistic” of strong support for a new U.N. Security Council resolution condemning the violence in Syria and calling for a political transition in the country, AP/Washington Post reports. EMBOLDENED REBELS TEAR AT ASSADS POWER: Syrian President Bashar al-Assad looks increasingly cornered, his authority seriously wounded by rebel raids at the gates of Damascus and his ability to wield superior firepower complicated by political constraints, Reuters reports. ‘FINISH HIM’: Daniel Bynum (Foreign Policy) writes: Without international intervention, there’s a good chance that Syria’s dictator, Bashar al-Assad, could still rule for years.

UNITED STATES: ECONOMIC RECOVERY GAINS STEAM WITH UNEMPLOYMENT AT 3-YEAR LOW

The United States economy gained momentum in January, adding 243,000 jobs, the second straight month of better-than-expected gains. The unemployment rate fell to 8.3percent, giving a cause for optimism as the economy shapes up as the central issue in the presidential election. The Labor Department’s monthly snapshot of the job market uses a different survey, of households rather than employers, to calculate the unemployment rate, Motoko Rich (NYT) reports.

KUWAIT: ISLAMIST GAINS AT EXPENSE OF WOMEN AND LIBERALS

Kuwait has become the fourth Arab country in as many months to see overwhelming gains for Islamists and dismal losses for liberals in parliamentary elections, Gulf News reports.

ISRAEL: UN CHIEF URGES ISRAEL TO HALT SETTLEMENTS

Israel must halt settlement building and present detailed proposals for a border with a future Palestinian state, visiting U.N. chief Ban Ki-moon said Wednesday, as he tried to persuade the Palestinians to continue low-level meetings with Israel that the international community hopes will evolve into serious negotiations, CBS news reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

Editor’s Note:

The recent US-Saudi Business Opportunities Forum in Atlanta provided a menu of commercial projects and sectors for Americans to connect with investments and partnerships. The incredible economic expansion in the Kingdom, especially compared to the lagging economic prospects for much of the global economy, covered the spectrum: agriculture, education, healthcare, infrastructure, energy production, petrochemicals, electrical generation and desalination, IT and more. Among the exciting prospects that were briefed by Saudi experts were the fields of nuclear and renewable energy. At his scene-setting presentation on the Forum’s objectives and scope Minister of Commerce Abdullah Zainel Alireza tee-ed up the subject:

Saudi Arabia is investing heavily in solar technology, with a potential of $3 billion allocated for solar panel production in Yanbu and Jubail. In addition, Saudi Arabia will spend more than $100 billion to build at least a certain amount of nuclear power plants across the Kingdom. Development of renewable energy is one of our main objectives. In October, Saudi Arabia inaugurated its first solar plant on Farasan Island, down in the south. This will help provide alternative energy, reduce dependence on hydrocarbons, reduce growth in domestic demand on oil, and save oil reserves for future generations.

In 2008 the United States and Saudi Arabia signed a “Memorandum of Understanding on Nuclear Energy Cooperation” during a visit of President George Bush to Riyadh, Saudi Arabia. The MOU said in part:

Today, Secretary of State Condoleezza Rice and Saudi Arabia Foreign Minister Prince Saud Al Faisal signed a Memorandum of Understanding on Civil Nuclear Energy Cooperation. The Government of the United States and the Kingdom of Saudi Arabia will establish a comprehensive framework for cooperation in the development of environmentally sustainable, safe, and secure civilian nuclear energy through a series of complementary agreements. Both of our countries face growing energy needs and we seek to address them in a responsible manner that contributes to reducing the effects of greenhouse gases on the global climate.

The United States will assist the Kingdom of Saudi Arabia to develop civilian nuclear energy for use in medicine, industry, and power generation and will help in development of both the human and infrastructure resources in accordance with evolving International Atomic Energy Agency guidance and standards. Saudi Arabia has stated its intent to rely on international markets for nuclear fuel and to not pursue sensitive nuclear technologies, which stands in direct contrast to the actions of Iran.

Today we are pleased to present a detailed briefing on the nuclear and renewable energy work underway in Saudi Arabia from the perspective of Dr. Hashim Yamani, President of the King Abdullah City for Nuclear and Renewable Energy (KA-CARE). His overview at a plenary session titled, “Nuclear and Renewable Energy: Building Resources for the Future,” was accompanied by a slide briefing. This SUSRIS item provides both the video presentation of Dr. Yamani’s remarks and the slide briefing. [An informative three minute virtual video tour of KA-CARE was embedded in the briefing and starts at the 17:00 minute mark.]

The 2nd US-Saudi Business Opportunities Forum in Atlanta was an unparalleled gathering of ministers and senior government officials and corporate and civic leaders from Saudi Arabia and the United States designed to increase understanding and business interactions between the two nations. The one thousand plus attendees, including over two hundred from Saudi Arabia, participated in the many well-organized panels and breakout sessions covering a broad range of high interest topics. The Forum was sponsored by the Saudi Arabian Ministry of Commerce and Industry and organized by the: Committee for International Trade (CIT); the US-Saudi Arabian Business Council; and the Saudi-US Trade Group (SUSTG).

***

Nuclear and Renewable Energy: Building Resources for the Future
US-Saudi Business Opportunities Forum, Atlanta
December 7, 2012

Dr. Hashim Yamani

[Dr. Hashim Yamani] [Arabic greeting] Your Excellencies, distinguished guests, ladies and gentlemen, salaam aleikum.

From the outset, I would like to thank my friend and colleague, His Excellency Abdullah Alireza for inviting me to talk to you about a momentous initiative that the Kingdom undertook on April 17th of last year when it announced the creation of King Abdullah City for Atomic and Renewable Energy, KA-CARE.

The announcement was a culmination of a national discourse on energy from both supply and demand perspectives, taking into account the local, regional, and international markets. The founding Royal Order establishing KA-CARE states explicitly that the creation of the city is to contribute to the sustainable development in Saudi Arabia through the utilization of science, research, and industries related to atomic and renewable energy for peaceful purposes in a way that leads to raising the standards of living and quality of life in Saudi Arabia. This event sets in motion a series of decisions designed to transition Saudi Arabia from total dependence on fossil fuel for electricity generation and water desalinization towards a sustainable energy mix, thereby ushering in a new era during which Saudi Arabia shall be known not only as the Kingdom of energy, but more precisely as the Kingdom of sustainable energy.

I am sure that many of you are asking yourselves the logical question of why Saudi Arabia, which is sitting on the largest oil reserves, is promoting the introduction of alternative energies?

Here are some important facts, which will help us to answer the question.

[slideshare id=10677514&doc=yamani-111223140514-phpapp02]

First, a careful assessment of where we are from the energy point of view and where we are heading reveals a pattern of excessive demand for energy in Saudi Arabia, leading naturally to a rapid growth in the demand for fossil fuel.

Second, the forecast for energy demands in Saudi Arabia over the next 20 years is based on several factors, the most important of which are the expected economic growth together with expected population growth. Saudi Arabia, already the largest economy in the MENA region and member of the G20 is undergoing an extraordinary economic boom. It is expected that electricity demand in Saudi Arabia will exceed 120 gigawatts by 2032.

Thirdly, the demand for oil has also been growing at an alarming rate, with the past four years witnessing the increase of more than twenty-seven percent in consumption. Massive public investment, rapid private sector growth, and new sector initiatives are driving an expansion projected to offer more than 1.3 trillion dollars in trade and investment opportunities over the next decade.

Massive investment requires unprecedented massive energy supplies.

The challenge, therefore, is to meet the growing demand, reaching more than 80 gigawatts of additional required capacity by 2032 in a sustainable way. One option, as you can easily imagine, is to burn more oil and more gas, but there is a catch to this “business as usual scenario.” By 2028, Saudi Arabia will be consuming more than eight million barrels of oil equivalent to fuel its economy. Of course, the Kingdom intends to use its resources to fuel its development requirements. At the same time, the Kingdom is committed to continue being that reliable supplier of oil needed to fuel the development requirements of other nations. To meet these dual challenges, the Kingdom opted to bring in new energy sources. And to spearhead this mission, the Kingdom created KA-CARE.

KA-CARE will help usher in a new energy mix to meet local needs as well as maintain Saudi Arabia’s leadership role in the global energy arena through carefully chartered transition towards greater sustainability. By introducing atomic and renewable sources of energy, we are not alone as evidenced by the increasing global reliance on atomic and renewable energy. KA-CARE’s vision is to be the driving force for making atomic and renewable energy an integral part of the national sustainable energy mix in Saudi Arabia, creating and leveraging the competitive advantages of relevant technologies for the social and economic development of the Kingdom.

This sustainable energy mix, as we envision it, would result in alternative energy gradually replacing fossil-based generation. The target is to ensure that both base-load and seasonal-load variation are met using a sustainable approach, sustainable in its environmental footprint and its economic impact, and inspiring comprehensive social economic development. The balanced deployment of nuclear and renewable energy, together with energy conservation, will gradually and significantly reduce the dependence of fossil fuel for electricity generation and water desalination by 2015.

But before I describe the basic thinking process behind the myriad of options and scenarios for developing this energy mix, I would like to share with you the mandate with which we are working. KA-CARE’s responsibility spans promoting alternative energy policies and formulating the strategies, acting in a regulatory capacity, a role we are preparing to be taken up by an independent authority, conducting and supporting R&D activities, developing human capacity required by the alternative energy sector, investment and business development in relevant technologies, and of course representing the Kingdom internationally.

The reason for KA-CARE having a broad mandate is that the Kingdom with a critical need to upgrade its power sector to sustain economic and industrial development will need to carry out this upgrade in a sustainable manner. The new implementation paradigm of the alternative energy sector will ensure that a nuclear power plant when commissioned in Saudi Arabia will contribute to GDP creation through jobs, value chain development in the manufacturing and services sector, and economic development spill-over to other sectors, in addition to generating electricity. We will carry out this sustainable development in a partnership mode as we have done successfully in the past in various economic sectors such as the petrochemical sector.

Already, the foreign direct investment stock has exceeded $200 billion, and the U.S. is the number one source of FDI, hovering around 18% of the total FDI. We foresee a major role for the U.S. FDI in the upcoming alternative energy sector in Saudi Arabia. This balanced development approach requires comprehensive value chain integration with electricity generation on the local scene. It also demands careful localization of niche products and services, in addition to seamless integration with international product chains and global energy services. By sewing the seeds of sustainability in the newly created alternative energy economic sector, KA-CARE will enable a long-term energy sustainability and economic growth. The broad mandate entrusted to KA-CARE will create the necessary levers to deliver on the fulfilling the task of creating a new and sustainable alternative energy sector.

Now, let’s go back to the energy mix discussion. We started the process of developing the sustainable energy mix of Saudi Arabia by studying the following parameters: how much would increasing efficiency and conservation contribute to demand reduction; the quantity of liquid fuel that will be saved by the proposed energy mix; the generation related matter, such as load factors, dynamic load offsetting, nature size, and efficiency of generation technologies; practical limitations of each technology, capacity building, international product chains, and the Saudi role in the alternative energy sector, local value chain development for atomic and renewable energy.

Understanding the electricity demand profile in Saudi Arabia is very essential to developing suitable energy mix that is both viable and sustainable. First, the seasonal change in peak load in Saudi Arabia exceeds 40 percent. Daily load variation both in summer and in winter is less pronounced than the seasonal variation, and is roughly uniform. Secondly, the average swing between day and night demands is relatively constant through year, all year round. Third, summer average demand – which is higher than average peak load by 20 percent is persistent during 60 percent of the year in Saudi Arabia. Very high summer peak demand where generation capacity is threshed to maximum is with us only two to four percent of the year, depending on the region. This is just the detailed technical analysis, but the implication from the above is that first and foremost, energy solutions are to be crafted for base load, then attention should move to seasonal and peak demand.

The discourse upon which we have based our analysis and strategic development starts from the base and moves upward. Nuclear generation may be suitable for year round base load, including winter, with other types of generation technology fitting the bill for the remaining load. Summer is a bit more complicated, yet nuclear remains viable for base load, with solar energy being suitable for meeting part of the load balance, particularly the difference between day and night year round. And with continuous improvement in energy storage solutions, fossil capacity will gradually be phased out for as a primary energy supply, but will remain the dispatchable solution for peak demand and emergency situations.

I hope that the previous slides have shown you at least a glimpse of the thought process that went into the development of the optimum energy mix. The criteria used to develop and recommend a suitable energy mix include sustainability, economic viability, technical feasibility, and enabling of further development. Of course, any proposed energy mix must deliver the required capacity, both cost effectiveness and in a timely fashion.

And here [slide] is an example of one plausible energy mix that combines new fossil with nuclear and renewable, built on a base of energy efficiency deployment.

We also carried out a cost benefit analysis of each and every plausible scenario that was considered. The development of the proposed energy mix came about following extensive consultations with stakeholders in Saudi Arabia and elsewhere, and benefitted from comprehensive assessment of relevant case studies. KA-CARE teams worked very diligently with assistance from the world’s best consulting houses to assemble and thereafter assimilate relevant insights and learning into the identified solution for developing a viable and sustainable energy mix. Starting with the capital costs and adding operation and maintenance, comparing the cost against the value of oil saved, and factoring in the investment in industry and human capital we find that the introduction of alternative energy is cost effective for Saudi Arabia.

Setting up solar and wind farms and constructing nuclear power plants would undoubtedly generate electricity. Doing the above, however, while affecting comprehensive value chain development would, in addition to generating electricity, foster long-term economic development. Developing the alternative energy value chain in and for Saudi Arabia of course requires tight-knit cooperation among local stakeholders and also with our international partners. We expect that the U.S., being the Kingdom’s largest trading partner and the number one source of FDI in Saudi Arabia, will score high in establishing the alternative energy sector in the Kingdom.

In carrying out renewable and civil nuclear energy sector development, we are committed to the following principles: transparency always, safety first and safety always, and adherence to international best practices, commitment to non-proliferation and the highest standards of safeguard, affecting maximum localization of the nuclear and renewable value chains in Saudi Arabia, commitment to transparent incentives, off taking, and funding mechanism.

The ability of KA-CARE to deliver on its broad and overarching mandate has been bolstered by the planned development of the physical city location where we will first practice what we preach, and second provide a stage for applicable development of alternative energy, technologies, and services. The site where KA-CARE shall reside permanently is unique in its characteristics, which required a thorough analysis, creative thinking, and visionary articulation of how it will materialize. We sought out the best experience, both locally and internationally, to develop our understanding and conceptual vision of the physical city. Here is a conceptual snapshot of KA-CARE’s site’s most valiant features, gathered from a short but hopefully enjoyable virtual tour of our permanent abode. The site itself represents various challenges, but met correctly, it may be transformed into a model of sustainable living, aspects of which may be applicable both locally and internationally.

[DR. YAMANI PLAYS KA-CARE VIDEO PRESENTATION – “VIRTUAL TOUR”]

I would like to draw your attention to the proposed Phase I development of the site as conceptualized. I would like to propose to your Excellency, considering holding a future U.S.-Saudi Business Opportunities Forum at the Headquarters of the King Abdullah City for Atomic and Renewable Energy. [Applause]

Finally I would like to leave you with the two basic ideas which summarize what I have stated.

First, Saudi Arabia needs to add more than 80 GW of generation capacity by 2032. The additional capacity, anchored in energy conservation, would include nuclear, and renewable capacity. The investment requires is in the hundreds of billions of U.S. dollars.

Second, Saudi Arabia has been a favorable destination of U.S. FDI and exports, and we would certainly encourage this trend to grow in the renewable and nuclear energy sectors, as well as in energy conservation, conventional energy and energy support services.

Thank you very much.

***

H.E. Dr. Hashim Yamani
President, King Abdullah City for Nuclear and Renewable Energy

Dr. Hashim Yamani

Dr. Hashim Yamani was appointed to serve as President of the newly established King Abdullah City for Atomic and Renewable Energy (KA-CARE) in April 2010. Prior to his appointment, he served as Minister of Industry and Electricity from 1995-2003 and as Minister of Commerce and Industry from 2003-2008.​

Dr. Yamani’s association with King Fahd University of Petroleum & Minerals (KFUPM) dates back to the mid-1970s when he joined the University as a faculty member. He later became Professor and Chairman of the Physics Department. After a brief stay at King Abdulaziz City for Science & Technology (KACST) where he served as Deputy Chairman from 1978 to 1983, he returned to KFUPM in the early 1980s as Manager of the newly established Renewable Energy Division of the KFUPM Industrial Research Institute. Dr. Yamani was also a Guest Professor at the University of Bielfield in West Germany (Summer 1977) and a Post-Doctoral Fellow at the University of Western Ontario in Canada (1975).

Dr. Yamani has served as acting Chairman of the Board of Directors for a number of organizations including the Saudi Standards, Metrology & Quality Organization (2003-2008); Saudi Arabian Industrial Property Authority (MODON) (2001-2008); Saudi Arabian Authority for Auditors (2003-2008); Saudi Council for Engineers (2003-2006); Saudi Electricity Company (SEC) (1995-2003); Saudi Basic Industries Corporation (SABIC) (1995-2003); and Saudi Arabian Consulting House (1995-2001), among others. Dr. Yamani was also Head of the Kingdom’s Delegation to the United Nations Industrial Development Organization (UNIDO) and Head of the Kingdom’s Delegation at the Ministerial Council Meeting of the Organization.

Dr. Yamani is also a Member of the Supreme Economic Council; the Permanent Committee of the Supreme Economic Council; the Supreme Petroleum & Minerals Council; the Coordination Council for Saudi-Yemeni; the Ministerial Committee for Accession to the World Trade Organization; the Board of Directors of the General Investment Fund; the Board of Directors of the Supreme Commission for Tourism; the Board of Directors of the Food & Drug Authority; the Arab Industrial Development & Mining Organization, (Rabat, Morocco); and the Board of Directors of “ALBA” Bahrain. In addition, Dr. Yamani serves on charitable boards such as the King Abdulaziz and His Companions Foundation for the Gifted and Creativity.

Dr. Yamani received his B.A. in Physics and Mathematics from the University of California, Berkeley in 1969; his M.A. in Physics from Harvard University in 1971; and his PhD in Physics from Harvard University in 1974 (Thesis: L2 Approach to Quantum Scattering Theory). He was also the recipient of several awards including the Ministry of Higher Education’s Undergraduate and Graduate Scholarships, as well as KFUPM’s Scholarship.

***

Related Items:

• US-Saudi Business Opportunities Forum – SUSRIS Special Section
• Business Forum: A Common Desire for Greater Cooperation – Alireza – SUSRIS – Dec 10, 2011
• Civilian Nuclear Trade Agreement – SUSRIS Special Section
• Saudi Arabia’s Nuclear Policy – Lippman – SUSRIS – Aug 5, 2011
• Bilateral Civilian Nuclear Trade Talks Set to Open – SUSRIS – Jul 29, 2011
• President Bush in Saudi Arabia – National Security Advisor Hadley Briefing – SUSRIS – May 17, 2008
• Business Forum: Nuclear & Renewable Energy – Bernhard Briefing

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

2.2.12 EDITION

Saudi Economy: Jadwa February 2012 Chartbook: SUSRIS

2/1/12

The Jadwa Investment firm in Riyadh introduced the “Saudi Chartbook” to provide a quick, chart-based briefing on the key developments and trends in the Saudi economy and stock market. SUSRIS is pleased to provide the summary from the February Saudi Chartbook and a link to the complete report, rich with illuminating charts and graphs. SUSRIS thanks Jadwa Investment’s Chief Economist, Brad Bourland, Head of Research, Paul Gamble and Associate Research Director Gasim Abdulkarim, for providing this insightful report for your consideration.

Saudi Economy Expected To Grow 3.8% in 2012: ARAB NEWS

2/1/12

Emirates NBD, a leading bank in the region, forecasts a 3.8 percent growth in Saudi GDP in 2012, backed by public sector spending, even as the global economy continues to lose momentum. With the oil sector remaining the main source of revenue for the Kingdom, the price of oil is forecast to remain at above $100 per barrel.

Saudi Arabia May Seek IMF Sway In Exchange For Riches: ARABIAN BUSINESS

Bloomberg | 2/2/12

Saudi Arabia, which has more than $500bn in foreign assets, may demand a greater share of voting rights at the International Monetary Fund in exchange for providing the lender with more money.

Tribalism in the Arabian Peninsula: A Family Affair: JADALIYYA

Sultan Al-Qassemi | 2/2/12

Across the Arabian Peninsula and stretching well into North Africa and Sudan, there is a common bond, perhaps only behind religion and language in importance, that binds Arabic language speakers together. Museums across the Gulf proudly display lineage maps illustrating the family trees of ruling members, linking them through lines and photos from bygone centuries up to the current leader. Major financial institutions in Dubai and Bahrain display in their offices large-scale maps detailing prominent ruling family members of the Gulf States and their marital, government, and business affiliations. Tribalism in modern day Arabia is alive and well. In this article, I highlight recent developments to illustrate how those in power in the Gulf and the Arabian Peninsula use tribalism, and how, sometimes, it is used against them.

Saudi Gold Miner Adds Shine of Different Hue: THE NATIONAL

Hadeel Al Sayegh | 2/2/12

The Saudi mining company Ma’aden yesterday started operations at its Ras Al Khair plant to produce diammonium phosphate. The US$5.6 billion phosphate project is fully operational and the plant, which is 90km north of Jubail in the Eastern Province, will gradually increase its production to its designed capacity of 3 million tonnes a year, the state-run producer said in a filing to the Saudi bourse yesterday.

Saudi Energy Investment at $141b in 5 Years Biggest In MENA Region: SAUDI GAZETTE

2/2/12

Saudi Arabia remained the dominant energy investor in the Middle East and North Africa (MENA) region, with an estimated $141 billion during 2012-2016, data from the Dammam-based Arab Petroleum Investment Corporation (Apicorp), an affiliate of the 10-nation Organization of Arab Petroleum Exporting Countries, showed.

Kuwait-Saudi Dorra Gas Work Seen Starting In June: REUTERS

2/2/12

Kuwait and Saudi Arabia are pushing ahead with plans to develop the undisputed part of the offshore Dorra gas field with the front-end engineering and design (FEED) work expected to be completed by June, industry sources said.

Fujitsu Commences Smart Community Development in Saudi Arabia: PRESS RELEASE

2/2/12

Fujitsu signs a MOU with Saudi Arabia as Part of an Overseas Infrastructure Export Initiative of Japan’s Ministry of Economy, Trade and Industry.

Saudi-Japanese Forum to Open New Horizons: ARAB NEWS

2/2/12

More than 200 prominent businessmen and senior officials of public and private companies and organizations from Saudi Arabia and Japan are participating in the Saudi Japanese Economic Forum that began in Tokyo on Tuesday evening. Minister of Commerce and Industry Tawfiq Al-Rabiah is heading the Saudi delegation taking part in the event, which is discussing various aspects of bilateral business cooperation between the two major trade partners in Asia.

New Saudi Metro to Ease Haj Traffic: GULF NEWS

Aya Lowe | 2/2/12

Saudi Arabia’s new metro system will ease traffic congestion during the annual Haj pilgrimage, a top official has said. The Haramain High Speed Rail project, which is under construction, will be a 449.2km high-speed inter-city system linking Madinah and Makkah.

Saudi Equity Market Cap Surges To SR1.30 Trillion: ARAB NEWS

2/1/12

The Saudi stock market showed a positive march in January after falling over 3 percent in 2011.

Collaboration Forum Set For Saudi Arabia: UPI

2/1/12

A forum to promote collaboration and partnerships between Saudi Arabian industry and Lockheed Martin has been conducted in Riyadh. The forum, which was last Sunday and Monday, featured speakers such as Lockheed Martin President and Chief Operating Officer Chris Kubasik and U.S. Ambassador to Saudi Arabia James B. Smith.

Saudi, Abu Dhabi Osps Awaited: EMIRATES 24|7

Reuters | 2/2/12

The Middle East crude market awaited the Saudi Aramco and the Abu Dhabi National Oil Company’s (Adnoc) official crude selling prices (OSP) to gauge the direction of trade for the new month.

EGYPT: EGYPTIANS INCENSED AFTER 74 DIE IN SOCCER TRAGEDY

Egyptians incensed by the deaths of 74 people in clashes at a soccer stadium staged protests on Thursday as fans and politicians accused the ruling generals of failing to prevent the deadliest incident since Hosni Mubarak was overthrown, Reuters reports. MANY BLAME MILITARY FOR MELEE: The riot on Wednesday night refocused attention on the failure of the transitional government to re-establish a sense of order and stability in the streets and threatened to provoke a new crisis for Egypt’s halting political transition. The deadliest soccer riot anywhere in more than 15 years, the melee also illuminated the potential for savagery among the organized groups of die-hard fans known here as ultras who have added a volatile element to the street protests since Mr. Mubarak’s exit, David D. Kirkpatrick (NYT) reports. MARKET PLUNGES: Egypt’s benchmark stock index fell over 2 percent Thursday, paring an earlier plunge stemming from deadly soccer riots the night before that left 74 dead and rekindled fears of fresh instability akin to the unrest that has battered the country and its economy in the year since the ouster of Hosni Mubarak, Tarek El-Tablawy (ABC) reports. PORT SAID OFFICIALS SACKED: Senior officials in the Egyptian city of Port Said and the Egyptian football association have been sacked in the wake of riots on Wednesday in which at least 74 people were killed, BBC reports.

BAHRAIN: NATION BOILS LEADING UP TO ONE-YEAR ANNIVERSARY OF PROTESTS

A year ago this month, Bahrain’s majority Shiites took inspiration from the Arab Spring to sharpen long-standing grievances against the Sunni monarchy, accused by Shiites of relegating them to second-class status in the Western-allied nation. Within days of the first protest march, Bahrain was sliding into a crisis that would bring more than two months of martial law, more than 40 deaths, hundreds of arrests and ongoing clashes so disruptive that the U.S. Embassy last month relocated workers into safe haven neighborhoods, Reem Khalifa and Brian Murphy (Boston Globe) report.

AFGHANISTAN: PANETTA SETS TIMETABLE OF 2013 FOR END OF COMBAT MISSION

The secretary general of NATO echoed Defense Secretary Leon E. Panetta on Thursday and said that the United States and its allies would step back from a combat role in Afghanistan in mid-2013, leaving Afghan forces in the lead to defend their own country, Elisabeth Bumiller (NYT) reports. TALIBAN RETURN SEEN AS UNLIKELY: Among the snippets in a secret NATO report detailing the hopes of jailed Taliban militants to retake Afghanistan was news the Islamist movement had set up telephone hotlines for Afghans to report anonymously on failures of its shadow government, Rob Taylor (Reuters) reports.

SYRIA: ANNIVERARY OF HOMS MASSACRE MARKED

Syrian security forces fanned out in Hama on Thursday as protesters splashed red paint symbolizing blood in the streets to mark the 30th anniversary of a notorious massacre carried out by President Bashar Assad’s father and predecessor, Fox News reports. TREATY WILL PUT PRESSURE ON SYRIA: Even a watered-down U.N. Security Council resolution will put pressure on the Syrian government, Arab League Secretary General Nabil Elaraby told CNN Thursday, ahead of renewed talks at the United Nations, CNN reports.

ISRAEL: SUSPECTED SITES REMAIN VULNERABLE, DEPUTY PM SAYS

Israel’s deputy prime minister says Iran’s suspected nuclear weapons sites remain vulnerable to possible military strikes, suggesting that underground bunkers do not offer sufficient protection, AP reports. ISRAEL SAYS IRAN HAS MATERIAL FOR 4 ATOMIC WEAPONS: Israel estimated on Thursday that Iran could make four atomic bombs by further enriching uranium it has already stockpiled, and could produce its first within a year of deciding to build one, Reuters reports.

PALESTINE: CITIZENS TRY TO BLOCK UN CHIEF FROM ENTERING GAZA, THROW SHOES

Palestinians tried to block the U.N. chief from entering the Gaza Strip and flung shoes at his armored convoy on Thursday, the second day of Ban Ki-moon’s mission to the region to keep informal peace talks alive, MSNBC/AP reports.

PAKISTAN: COURT TO CHARGE GILANI WITH CONTEMPT

Pakistan’s Supreme Court is to charge Prime Minister Yousuf Raza Gilani with contempt for failing to reopen corruption cases against the president, BBC reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

Editor’s Note:

This week Dr. Tawfiq Al-Rabiah, the new Minister of Commerce and Industry, in his role as Chairman of Modon’s Board of Directors, signed contracts valued at $186 million for electrical infrastructure at five of Saudi Arabia’s industrial cities. Newly named Director General Saleh Al-Rasheed told Arab News that Modon’s next project will focus on the completion of services and infrastructure, so that the existing industrial cities that are under development become integrated services cities.

The agreements for new electrical connectivity for these five industrial cities is just the latest in a very ambitious and farsighted program launched by the government in 2001 to promote industrial and technology zones to facilitate private sector commercial expansion.

So just what is this organization that connects businesses with service ready industrial property but doesn’t necessarily make very many headlines?  The participants at the recently concluded US-Saudi Business Forum in Atlanta were provided a detailed briefing on this independent, self-funded public organization which has been responsible for developing over 34 million square meters of facilities in the last three years and accounts for more than 300,000 jobs and 3,000 factories.  Dr. Rabiah, who served as Modon Director General from 2007 through December 2011 when he was appointed as Commerce Minister, spoke on a panel titled, “Industrial Infrastructure Initiatives: Creating the Foundation for Economic Growth.”

Today we are pleased to provide a profile of Modon, the Saudi Industrial Property Authority, as well as the video and slides from Dr. Rabiah’s Atlanta presentation.

***

The Saudi Industrial Property Authority – Modon

Modon is a government agency established in 2001 under Royal Decree to create an entity for the Kingdom’s industrial cities with the goal of establishing Saudi Arabian industry as a regional and global competitor. Modon is charged with the organization and promotion of industrial and technology zones, and to encourage the private sector to invest in the development, operations, and maintenance of these zones. The organization took over the existing industrial cities hoping to increase the pace of development. Modon focuses on mid-stream and down-stream industries all over the Kingdom.

Modon is an independent general authority controlled by a committee headed by the Minister of Trade and Industry. The authority is responsible for planning, supervision, and monitoring of the industrial cities, while the private sector focuses on financing, building, and operation.

Industrial Cities in the Kingdom – Background

The Kingdom of Saudi Arabia has consistently developed its industry in order to help improve the national economy for future generations. The Kingdom initiated its five year strategic plan to develop the local industry in 1970 by considering its industrial sector to be its main source of income. By developing local factories built in fully serviced, fully equipped industrial areas and to operate under eco-friendly guidelines, the goal was to provide employment opportunities for Saudis while distributing growth and development evenly across the nation in order to control migration to the bigger cities in the Kingdom. Starting with three main industrial hubs, cities were built in Riyadh, Jeddah and Dammam with an area not exceeding 1.4 million square meters in 1973. This attracted Saudi investors to enter the industrial field in turn, this surge brought with it further development of industrial zones between 1975-1980 developing an additional 14 industrial cities by 1990-1995. These took up an area of over 92.78 million square meters in Riyadh, Jeddah, Dammam, Makkah, Qassim, Ahsa, Madina, Asir, Al Jouf, Tabuk, Hail and Najran, boasting over 2500 factories with investments of over 200 billion Saudi Riyals and employing over 300,000 workers.

According to Dr. Rabiah in his US-Saudi Business Opportunities Forum remarks, Modon has, “About an area of 75 million square meters developed, and 34.5 million out of these 75 were developed in the last three years, which shows that we have huge development going on.” Nineteen industrial cities are up and running on this land, as well as nine under development and four in the planning process. There are over 3,000 factories in the Modon-operated industrial estates, earning a share of more than 50 percent of manufacturing companies in Saudi Arabia, and employing over 300,000 workers. At the forum, Rabiah said Modon would directly invest $3 billion over the next 4 years to improve infrastructure throughout the nineteen cities.

Modon lists as their strategic goals:

• Building, developing, and operating industrial cities and technology zones throughout the Kingdom.
• Encouraging the private sector to invest in the building, development, operation, and maintenance of the industrial cities and technology zones.
• Attracting new investors, including local and global industries by providing the proper infrastructure and services such as electricity, telecommunications, residential, commercial, medical, entertainment, and educational services.
• Enhancing the heavily populated, less developed economic areas, and providing jobs for inhabitants.
• Increasing exports through improved economic performance and gaining more independence from government financial aid.
• To provide healthier job environments that encourage ongoing development, enhanced group performance, and retain highly qualified personnel.
• To preserve the environment within industrial cities.
• To support the local society by providing job opportunities for Saudi nationals and to support local education and economy as well as supporting those individuals with groundbreaking ideas for projects.

[slideshare id=10677377&doc=rabiah-111223133537-phpapp01]

Modon’s strategy for industrial expansion has resulted in a set of tasks. Modon began by planning new areas within established industrial cities throughout the Kingdom as well as completely new areas to be developed elsewhere and by renovating older facilities to suit modern industrial activities. This is achieved all through a newly developed strategy, including the following tasks:

• Improving the standards of current and future industrial cities to become fully integrated including residential, commercial and educational areas fully equipped with telecommunications services, hotel services, banks, occupational training facilities, storage areas, entertainment zones, buildings equipped to house factories, petrol stations, transportation services, showrooms to sell factory products and science and business parks.
• Encouraging the private sector to invest in the building, development, running and maintenance of the industrial cities and technology zones.
• Providing fully connected utility services including electricity, water, telecommunications. Gas and roads with full funding for such government expenses.
• Developing industrial investments in areas with slower growth rates and developing the infrastructure for industrial cities in order to entice the private sector into investing more in the newer cities.
• Improving the services currently provided in industrial cities by renovating their current facilities to global standards in partnership with investors from the private sector using the BOT system (Build, Operate, Transfer).

Available Industrial Cities

Modon is responsible for the development of 19 industrial cities. A management team for every city oversees the project and provides a daily follow up for private sector investors in order to complete the development, operation and maintenance of the industrial cities to the highest of standards. Presently nine are under development and four are in the planning process.

• Investors have choices when obtaining industrial land in the Kingdom of Saudi Arabia. Available industrial areas are located in:
• Industrial Cities supervised by Modon (Saudi Industrial Property Authority).
• Land specified by city municipalities as industrial areas, specifically factories, workshops, service and storage areas.
• Industrial cities in Jubail and Yanbu under the Royal Commission for both cities.
• Private land owned and operated by development companies licensed by Modon.
• Industrial land available to economic cities developed by the Saudi Areabian Government Investment Authority (SAGIA).
• Area and land under Modon available for investors with incentives; these are located in Najran, Madina, Jizan, Arar, Tabuk, Hail, Al Jouf and Asir and elsewhere, with more to come.

Sources: This profile was derived from the Modon Web site, promotional pamphlets and presentations.

***

Director General of Modon
Eng. Saleh bin Ibrahim Al-Rasheed

Modon Director General Eng. Saleh Al-Rasheed

The newly appointed Director General, Eng. Saleh bin Ibrahim Al-Rasheed, was selected from “Modon” leadership executive team where he served as Communications and Information Technology Department Manager in Modon since June 2007. During his tenure in Modon, he led many distinctive initiatives and projects and oversaw the building of communication networks and information technology systems within Modon and in the industrial cities, which greatly improved the quality of services offered to both Modon customers and employees.

Eng. Al-Rasheed led the initiative to develop and promote smart industrial cities by providing high-speed, fiber-optic based telecom networks and managed services. The industrial cities were provided with wired and wireless data and voice services, in addition to the electronic physical security solutions for monitoring and controlling city gates, road intersections, high-value locations, as well as solutions for vehicle admissions and tracking, all of which were connected to the Command and Control Center which operates around the clock.

Eng. Al-Rasheed also led the development of Geographical Information System (GIS) for the management of Modon properties such as lands and infrastructure in the industrial cities. The system included a mobile version (Rased, which means “observer” in Arabic), which assists field inspectors to monitors and record their findings and observations in the industrial cities. His efforts culminated in a global SAG Excellence Award for Modon in Geographical Information Systems in the year 2011.

Eng. Al-Rasheed sponsored and oversaw Modon-wide projects for the development of electronic services and for process re-engineering which greatly enhanced business process control, quality, response time, and overall customer satisfaction. The eModon electronic services system was developed which enables the customer to submit requests for industrial or investment lands and view these on the map without having to visit Modon offices. The system generates contracts, invoices and allows the customer to submit factory drawings online. The customer billing system was integrated with SADAD payment gateway to allow online payment through the various channels offered by the local banks.

In addition to that, and under the sponsorship of Eng. Al-Rasheed, several other internal electronic solutions were developed. These included Internet and Intranet portals, Finance and HR management systems and self-services, archiving solutions, project and task management, and several others. He also contributed in improving internal work environment by providing appropriate systems, such as, IP Telephony and Instant Messaging, establishment of a technical support office and providing Modon with appropriate information availability, security, backup and recovery solutions. Each of these systems contributed in serving the customer, leading to Modon securing second position for Best E-services Award in the government sector in the year 2010.

Engr. Al-Rasheed holds Bachelor degree in Computer Science and Information Technology from King Saud University and a leading Advanced Management Certification from IMD Business School. He received various administrative leadership training courses from several universities and institutes worldwide, such as (MIT, GE), with some specialized courses and certificates.

He works as a member of the Board of Directors in the Saudi Industrial Development Fund and also as a member of the Board of Directors in the Saudi Railways Organization.

Source: AMEinfo

***

Related Material:

• Modon – Saudi Industrial Property Authority – Briefing – US-Saudi Business Forum – Dec 6, 2012
• Modon – Saudi Industrial Property Authority – Home Page
• SAGIA – Saudi Arabian General Investment Authority – Home Page
• US-Saudi Business Opportunities Forum – SUSRIS Special Section
• Modon inks SR700m electricity deals to spur investment – Arab News – Jan 30, 2012
• Modon Board of Directors delegates Saleh Al-Rasheed as Director General – AMEinfo.com – Jan 23, 2012

Editor’s Note:

The Jadwa Investment firm in Riyadh introduced the “Saudi Chartbook” to provide a quick, chart-based briefing on the key developments and trends in the Saudi economy and stock market. SUSRIS is pleased to provide the summary from the February Saudi Chartbook and a link to the complete report, rich with illuminating charts and graphs. SUSRIS thanks Jadwa Investment’s Chief Economist, Brad Bourland, Head of Research, Paul Gamble and Associate Research Director Gasim Abdulkarim, for providing this insightful report for your consideration.

[Complete report with charts, graphs and tables at this link.]

***

Saudi Chartbook
February 2012 

Summary

Real economy: Data for December show that the economy posted the usual post-Eid al-Adha recovery. Guides to consumer spending remained strong both in absolute and year-on-year terms. Cement sales were almost at their all-time high in December.

Bank deposits: Bank deposits jumped in line with the usual trend in December. Private sector deposits accounted for most of the gain. While demand deposits continued to grow rapidly, time deposits recorded their first annual growth for over two years.

Bank lending: Bank lending to the private sector fell a little in December. This appears to be related to seasonal factors rather than a change in risk appetite. Bank lending growth in 2011 was the highest since 2008.

Inflation: Year-on-year inflation was little changed for the fourth consecutive month in December. Domestically-generated sources of inflation continued to rise, offset by a modest fall in food price inflation. Rental inflation was unchanged for the third month in a row.

Trade: Imports and exports both declined during November, probably due to the Eid al-Adha holiday. Both were higher than in November 2010. Data from the ports show that volumes of imports and exports rebounded in December.

Click here for the original report with charts and graphs.

Oil: Oil prices have been fairly stable during January, with concerns around Iranian supply offset by a weakening global economy. The Oil Minister recently said that the Kingdom’s oil production could be increased rapidly within a few days, if required.

Exchange rates: The euro has broken its fall against the dollar, but with the European Central Bank expected to be more active in supporting the Eurozone at the same time as data from the US economy has remained strong, a further fall appears likely.

Stock market: The TASI maintained its upward trend during January, buoyed by strength in global markets, though it underperformed many owing to some disappointment with fourth quarter results and heightening regional political tensions.

Sectoral performance: Thirteen of the 15 sectors were up through January 29. Performance was broadly in line with market perceptions of fourth quarter results.

Fourth quarter results: Net income of listed companies totaled SR21.5 billion in the fourth quarter. As normal, the fourth quarter was the worst for the year, though it was petrochemicals, rather than banks, that pulled earnings down.

***

About Jadwa Investment - Jadwa Investment is a Saudi Closed Joint Stock company operating under the supervision of the Saudi Arabian Capital Markets Authority (CMA). Under the CMA decision published on August 21, 2006, Jadwa was awarded a license to offer all types of investment services including dealing, managing, custody, arranging and advising. All investment services offered by Jadwa Investment are supervised by a Shariah Supervisory Board and are fully Shariah-compliant.

For comments and queries you can contact the authors:

Paul Gamble, Head of Research
pgamble@jadwa.com
and:
Gasim Abdulkarim, Associate Director: Research
gabdulkarim@jadwa.com
or:
Brad Bourland, CFA, Chief Economist
jadwaresearch@jadwa.com

***

Related Items:

• Jadwa January Saudi Chartbook  – SUSRIS – January 10, 2012
• The Saudi Economy in 2012: Jadwa – SUSRIS – December 31, 2011
• Budget for 2012 Reviewed: Jadwa – SUSRIS – December 28, 2011
• Saudi Arabia Inflation Report – November 2011 – Jadwa – December 21, 2011
• Saudi Arabia Inflation Report – October 2011 – Jadwa – November 22, 2011
• Monthly Bulletin – November 2011 – Jadwa – November 3, 2011
• Jadwa November Saudi Chartbook  – SUSRIS – November 1, 2011
• Economic Projections – Jadwa – October 16, 2011
• Key Economic Developments – SUSRIS – September 3, 2011
• Saudi Arabia Inflation Report – Jadwa – August 22, 2011
• Inflation Report – Second Quarter 2011 – Saudi Arabian Monetary Agency
• Saudi Economic Trends – Jadwa Chartbook – August 13, 2011
• Debt, Downgrade and Saudi Arabia – Jadwa – August 9, 2011
• The Saudi Stock Market and Ramadan – July 23, 2011
• Saudi Arabia Inflation Report – Jadwa – July 21, 2011
• Saudi Arabia Economics – June 2011 – BSF – July 21, 2011
• Saudi Economic Trends – Jadwa Chartbook – July 20, 2011
• Short Term Inflation Spike – SUSRIS – Jul 16, 2011
• Energy, Consumption Lift Saudi Q3 Business Confidence – Sfakianakis – SUSRIS – June 28, 2011
• Saudi Arabia Economics – SUSRIS – June 21, 2011
• Saudi Arabia Economics – SUSRIS – May20, 2011
• Real Estate Saudi Arabia – SUSRIS – May 12, 2011
• Saudi Arabia Monetary Indicators – April 2011 – SUSRIS – Apr 28, 2011
• Business Confidence Rides on $100 Plus Oil – SUSRIS – March 2011
• Economics Quarterly: To Spend or Not to Spend? – SUSRIS – March 2011
• Monthly Monetary Indicators – SUSRIS – March 2011
• Reaching Out Again: Financial Support Analyzed – BSF – Mar 23,2011
• Royal decrees, regional unrest and the economy – Jadwa – SUSRIS – Mar 23, 2011
• Saudi Arabia Economics – BSF – Mar 22, 2011
• Monthly Monetary Indicators – March 2011
• Emerging Markets: What is next for Saudi Arabia? – March 2011
• Employment Quandary: Urgency for Reform – SUSRIS – February 2011
• Saudi Arabia Monetary Indicators – SUSRIS – February 2011
• Uprising in Egypt and Financial Volatility – SUSRIS – January 31
• Saudi Arabia Economics – SUSRIS – January 2011
• Saudi Business Leaders Bullish in 2011, BSF Confidence Index Show- SUSRIS
• Why Are Economists Bullish on Saudi Arabia’s 2011 Economic Prospects – SUSRIS
• Saudi Arabia Monetary Indicators – January 2011 – SUSRIS
• Ready to Roll: 2011 Saudi Budget: Sfakianakis – SUSRIS – Dec 21, 2010
• Saudi 2011 Budget Reflects Solid Economy – SUSRISblog – Dec, 21, 2010
• Saudi Arabia Monetary Indicators – December 2010
• Saudi Arabia Economics – December 2010 – SUSRIS – Dec 7, 2010
• Saudi Monetary Indicators – November 2010 – SUSRIS – Nov 12, 2010
• Saudi Arabia Business Confidence Index – 2010Q4 – SUSRIS – Oct 19, 2010
• Saudi Arabia Economics – BSF – October 2010 – SUSRIS – Oct 11, 2010
• Jadwa Monthly Economic Bulletin – September 2010 – SUSRIS – Oct 9, 2010
• Saudi Monthly Monetary Indicators from BSF 10-06-10 – SUSRIS – Oct 7, 2010
• Saudi Monetary Indicators for August 2010 – SUSRIS – Sep 1, 2010
• Saudi Arabia Economics – August 2010 – SUSRIS – Aug 22, 2010
• August Bulletin – Jadwa Investment – SUSRIS – Aug 10, 2010
• Saudi Economic Trends – Jadwa Chartbook – August 2010 – SUSRIS – Jul 31, 2010
• Saudi Monetary Indicators for July 2010 – SUSRIS – Jul 7, 2010
• Saudi Monetary Indicators for June 2010 – SUSRIS – Jun 30, 2010
• Saudi Economic Trends – Jadwa Chartbook – June 2010 – SUSRIS – Jun 1, 2010
• Euro crisis and its impact on Saudi Arabia – Jadwa – SUSRIS – May 29, 2010
• Saudi Arabia Economics – May 2010 – SUSRIS – May 25, 2010
• Saudi Monetary Indicators for April 2010 – SUSRIS – May 25, 2010
• Vulnerability to European “Shockwaves” – Sfakianakis – SUSRIS – May 17, 2010
• Jadwa Investment May 2010 Bulletin – SUSRIS – May 17, 2010
• Greek Debt Crisis and the Kingdom – SUSRIS – May 11, 2010
• Jadwa Investment April 2010 Bulletin – SUSRIS – Apr 28, 2010
• U.S. Exports to Arab World Rebounding – SUSRIS – Apr 16, 2010
• Saudi Economic Trends – Jadwa Chartbook – April 2010
• Saudi Stock Market Report – Jadwa Investment – SUSRIS IOI – Mar 21, 2010
• Jadwa Chartbook – March 2010
• Jadwa Chartbook – February 2010

Editor’s Note:

The agenda for the 2nd US-Saudi Business Opportunities Forum in Atlanta was not all business. There was ample opportunity for discussions of diplomacy and foreign relations, especially the official ties between the United States and Saudi Arabia.  One such instance was the joint appearance of Ambassadors from each country at the dinner following the first full day of the Forum.  For the Saudi side the Ambassador to the United States, Mr. Adel Al-Jubeir, was not available for the Forum so his spot was ably filled by the Saudi Ambassador to the United Nations, Mr. Abdullah Al-Mouallimi.  He began his remarks with a humorous jab at the all too serious subject of charges against Iranian officials concerning a plot to kill Mr. Al-Jubeir.  Mr. Al-Mouallimi mentions the case in his comments about Iran further in his remarks.  We are providing a video excerpt from his press briefing at the United Nations about this topic from November 18, 2011 to provide background and context.  Mr. Al-Mouallimi’s presentation on several subjects of interest to Saudi policymakers was followed by remarks from United States Ambassador to Saudi Arabia James B. Smith.  His presentation is provided in a separate SUSRIS item. [Link]

The 2nd US-Saudi Business Opportunities Forum in Atlanta was an unparalleled gathering of ministers and senior government officials and corporate and civic leaders from Saudi Arabia and the United States designed to increase understanding and business interactions between the two nations. The one thousand plus attendees, including over two hundred from Saudi Arabia, participated in the many well-organized panels and breakout sessions covering a broad range of high interest topics. The Forum was sponsored by the Saudi Arabian Ministry of Commerce and Industry and organized by the: Committee for International Trade (CIT); the US-Saudi Arabian Business Council; and the Saudi-US Trade Group (SUSTG).

You can find much more about the 2011 Forum at the SUSRIS Special Section. [Link]

***

Ambassador Abdullah Y. Al-Mouallimi: Your Highness, Mr. Lieutenant Governor, Ambassador Smith, excellencies, ladies and gentlemen: it gives me great pleasure to be with you this evening standing in for my friend and colleague, Ambassador Adel Al-Jubeir, the Kingdom’s Ambassador to Washington. I told Adel that I would be happy to fill in for him anytime, anywhere, but when it comes to assassination plots, you’re on your own. Fair deal?  [Laughter and applause]

Having listened to some of the presentations today and yesterday, I feel that you all have had a pretty good dose of Saudi Arabia: its economy, business opportunities, health and education experience, and even some music last night. So I thought I would take you to some of the international issues affecting our region, and attracting the attention of our two nations in the weeks and months ahead.

HE Saudi Ambassador to the UN Abdullah Al-Mouallimi

Time is short, and we want to pace ourselves to Saudi “standard time,” which achieved for Saudi Arabia in two generations what others took centuries to do, Ambassador Smith. Therefore, I will limit myself to three fundamental issues: the Arab-Israeli conflict, relations with Iran, and turmoil in the Arab world.

Let me start with the Arab-Israeli conflict, which appears to be at a dangerous standstill. We have all followed Palestinian attempts to gain recognition and admission to the United Nations. Unfortunately, these efforts have been and continue to be frustrated, mainly by American objections. Our American friends say that the current standstill must be resolved through negotiations. The fact is that we have had no shortage of negotiations. Over the past two decades we’ve had them all, all kinds: secret negotiations, open negotiations, direct and indirect negotiations, proximity talks, grand conferences, you name it, and even private retreats in Camp David, Sharm el Sheikh, and other exotic locations. If anything, we’ve had too much negotiation.

Why have we achieved so little? Very simply because Israel wants to have its cake and eat it too.

Israel continues to occupy Palestinian territories, expand unlawful settlements, impose a blockade on Gaza, turning it into a one and a half million people’s prison, and then they say let’s talk while I keep doing all of that. That doesn’t work anymore. Israel would be well advised to use its overwhelming power to defend a just and lasting peace, rather than to enforce an unsustainable occupation. Israel would be well advised to turn the treaties it signed with President Mubarak and King Hussein into real peace with the peoples of the region. Israel would be well advised to accept the Arab Peace Plan, first introduced by King Abdullah, and later adopted by all Arab countries. A plan that extends a hand of peace and recognition to the state of Israel in return for an end to the occupation and prompt implementation of the two-state solution.

And the United States would be well advised not to frustrate Palestinian ambitions for self-determination and independence, a right that has been recognized by all countries of the world, including the United States itself. Instead of vetoing Palestinian membership in the United Nations, the United States should help Israel adapt to the realities of the 21st century and the new Middle East, and help end the very last occupation in the world, that of Palestine.

Saudi Ambassador Abdullah Al-Mouallimi and UN Secretary General Ban Ki-moon

Let me now turn to Iran. And let me say at the beginning that we respect Iran as a neighbor and a major force in our region. We recognize its proud history and great civilization, and believe that Iran should have a leading place and play a constructive role as a member of the civilized community of nations.

We also acknowledge Iran’s right to develop nuclear energy for civilian purposes under the appropriate guidance of the relevant international organizations. But we reject Iranian attempts to exercise hegemony in the region, and we reject Iran’s interference in the internal affairs of Arab countries, from Lebanon to Yemen, and from Syria to Bahrain, and beyond. And we reject Iran’s efforts to acquire nuclear weapons. We also deplore Iranian terrorist plots, including the latest ones aimed at the Saudi Ambassador in Washington, and the Saudi Ambassador in Bahrain.

This is why we introduced a United Nations General Assembly Resolution that condemned these plots, called upon Iran to cooperate with the investigation, and hand over culprits to justice. This resolution was passed with an overwhelming majority of 106 to 9. We continue to extend our hand of friendship, peace, and dialogue to Iran. We hope that the voice of wisdom will prevail, and that Iran will desist from its current course of reckless, fruitless, and ultimately dangerous behavior.

Finally, I will address the current turmoil in the Arab world. You may have noticed that I did not use the term “Arab Spring.” Spring carries with it images of blossoming roses, refreshing breeze, and everlasting sunshine. Unfortunately, the events in the Arab world have been far from this beautiful image. Let us hope and pray that this turmoil will bring about positive change and stability in all countries of the region.

Saudi Arabia has followed closely the events in the Arab world. We maintain a position of non-interference in the internal affairs of other countries. When the peoples of Tunisia and Egypt brought about a regime change, we respected their will, and rushed to provide massive economic assistance to help overcome the difficulties faced in both countries.

In Yemen and in Bahrain, Saudi Arabia responded to the calls of leaders and provided strategic, economic, and political assistance. Along with our partners in the Gulf Cooperation Council, we restored stability to Bahrain, protected it from external threats, and thereby gave its people an opportunity to find through dialogue and reconciliation a way forward from the crisis.

In Yemen, the GCC initiative was instrumental in getting all parties to sign a comprehensive agreement that allows for a peaceful transition towards a more democratic and representative system of government. In Libya, the GCC states were the first to call for a no-fly zone, thereby preventing Colonel Kaddafi from executing his threat to massacre the people of Benghazi “Zenga Zenga” as he said, or street by street.

In Syria, King Abdullah was the first to break the wall of silence in the Arab world about that country’s continuing tragedy. Saudi Arabia is still working through the Arab League to find a peaceful political solution that would protect the Syrian peoples’ aspirations for liberty and prosperity. As you can see, our plate has been full, and I would say thank God for Saudi Arabia.

Many people ask “will” the Arab Spring reach Saudi Arabia? And some ask more bluntly “when” will the Arab Spring reach Saudi Arabia? My answer is simple. We have had our spring. In 2005, and upon his accession to the throne, King Abdullah gave a comprehensive speech to the Shura Council in which he outlined his vision for wide-ranging reform in the Kingdom.

In 2009, two years before the turmoil in the Arab world began, King Abdullah gave a speech at the Arab Summit in Kuwait in which he urged Arab leaders to undertake major reforms, politically, economically, and socially. He told the summit that business as usual was not sustainable, and that the leaders should initiate reform before having it forced upon them.

Since 2005, King Abdullah has implemented his agenda for reform in the economy, education, judiciary, women rights, and expanded public participation in managing their affairs of state. In 2011, King Abdullah responded to popular demands for providing housing facilities, introducing unemployment benefits, creating more job opportunities, especially for women, and establishing a new agency for combating corruption.

Saudi Arabia might not have developed its democratic institutions to Western standards, but it is a country where citizens feel they have a voice, where hope for a better future for them and their children flourishes, where dignity is protected, and economic opportunity abounds. If that is not spring, I don’t know what is.

Thank you very much.

A presentation by U.S. Ambassador to Saudi Arabia James B. Smith followed. [Link Here]

***

Related Items:

• US-Saudi Business Opportunities Forum 2011 – Atlanta – SUSRIS Special Section
• US-Saudi Business Opportunities Forum 2010 – Chicago – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Home Page
• Business Forum: Ambassadors Exchange Views – The American Side – SUSRIS – Feb 1, 2012

Editor’s Note:

Ambassador Abdullah Al-Mouallimi, Saudi Arabia’s top diplomat at the United Nations and Ambassador James Smith, America’s envoy in Riyadh presented remarks on the diplomatic and foreign policy dimension of Saudi-US relations at the gala dinner of the US-Saudi Business Opportunities Forum in Atlanta, Dec 5-7, 2011.  We are pleased to provided their remarks to you today.

This presentation was part two from the dinner remarks of Saudi and American ambassadors. Part one was the presentation of Mr. Abdullah Al-Mouallimi, Saudi Ambassador to the United Nations. [Link]

The 2nd US-Saudi Business Opportunities Forum in Atlanta was an unparalleled gathering of ministers and senior government officials and corporate and civic leaders from Saudi Arabia and the United States designed to increase understanding and business interactions between the two nations. The one thousand plus attendees, including over two hundred from Saudi Arabia, participated in the many well-organized panels and breakout sessions covering a broad range of high interest topics. The Forum was sponsored by the Saudi Arabian Ministry of Commerce and Industry and organized by the: Committee for International Trade (CIT); the US-Saudi Arabian Business Council; and the Saudi-US Trade Group (SUSTG).

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Ambassador James B. Smith
US-Saudi Business Opportunities Forum
Atlanta, Georgia

[Ambassador James Smith] Peter, thanks for the opportunity to stand with you this evening. It is good to be home. I was born in Riverdale, Georgia, about ten miles south of where you’re sitting tonight, and I grew up in Fayette County, Georgia on a dairy farm. After I graduated from high school in 1970, I went off to the Air Force Academy with the goal of seeing the world.

U.S. Ambassador to Saudi Arabia James B. Smith

Now here I’m back, and I bring good tidings from the Middle East, and I bring along 200 outstanding leaders of the Kingdom of Saudi Arabia. For the past two and a half years, Janet and I have had the great honor and privilege to represent our country in the Kingdom. It has been the experience of a lifetime. And for those of you who are considering business opportunities in the Kingdom, you will find the Saudis to be among the most warm, the most generous, and the most hospitable people on the planet.

Tonight, I want to focus my comments on three areas. First, I want to talk to you about what we in the embassy and two consulates are doing to support you and your business activities. Second, I want to give a little different twist, a different view on what’s going on in the region. And then I want to close by talking about who are these Saudis.

First of all, the business relationship is extremely important. Let me describe what we are doing to enhance the bilateral relationship, and improve the business climate between our two countries. And first, let me start with visas. The consulates in Jeddah and Dhahran and the Embassy continue to open doors to qualified travelers. We’ve improved our level of service, while handling a rapidly growing number of travelers. In the fiscal year that just ended, we saw a record number applying for visas – over 121,000 applicants. This is a 32 percent increase from 2010. It represents a 128 percent increase since fiscal year 2008. And by comparison, until 2008 our peak year was 75,000, in the fiscal year of 2001. So we’ve got an increase of over 50,000. And I would tell you that Saudi Arabia has the highest rate of acceptance of visa applicants of any country in the world. Even more remarkably, we have handled this increasing workload with the same facilities we’ve had in the past, and essentially the same staffing levels, employing lean and Six Sigma initiatives to improve our processes. We’ve reduced the average waiting time for visa appointments in Riyadh and Dhahran from 90 days in 2009 to less than two weeks today. And to tell you the truth, the quote “the visa problem” at least on our end is old news. What I do ask is that you continue to remind your business community to plan ahead. And if you start the visa process 60 days ahead of traveling, you stand a 97 percent chance of having a visa in hand when you travel.

But more generally, let me tell you about how the Embassy supports the business community. Our “Econ” section focuses on policy, policy initiatives between our government and the Saudi government. It is working to expand partnership with Saudi institutions, focused on research, training, science, and technology, with a particular focus on the energy sector.

We support Saudi efforts to develop renewable energy sources, wind, solar, and nuclear. We’ve also provided training to modernize the Saudi justice system, and to improve their commercial legal capability. You should know that Saudi Arabia has made remarkable progress in protecting intellectual property rights. And we also work closely with the Saudi Arabian Standards Organization, and the Saudi Food and Drug Authority on issues of concern to U.S. companies. And finally, we’re particularly active in promoting Saudi’s G20 objectives. And these include the combating of corruption, controlling subsidies, and ensuring food security, targeting both the elimination of barriers to U.S. products, as well as the healthy growth of the Saudi economy that will help ensure continued peace and stability in the region.

Our focus on agriculture has been a great success. We have solved several key trade policy restrictions, and these have allowed us to increase our exports of wheat, beef, seed potatoes, and other commodities. Our ag-exports rose 29 percent in 2010. And according to USDA statistics for January through July of 2011, U.S. total agricultural exports to the Kingdom reached $821 million. That is an increase of 59 percent compared to the same period in 2010. Yes, I said 59 percent.

Now, the anchor of our business effort is the Foreign Commercial Service Office, and Amer Kayani and his folks have simply been your champions to promote U.S. business and industry. They assisted more than 1000 U.S. companies in FY11, and this resulted in nearly 200 contracts worth almost a billion dollars. Last fiscal year, we can report that 102 U.S. companies exported to Saudi Arabia for the very first time, and over the last two years, 230 have exported to Saudi Arabia for the first time, and fully 70 percent of those are small to medium enterprises. Rest assured, the U.S.-Saudi relationship is solid, and you can see the many successes in business, trade, education, and medicine.

Now, I do not intend to deliver a political talk this evening, but many of you business people wonder about the events of the last year. Make no mistake, we have had a front row seat to some of the most phenomenal change in the region, perhaps in history. And like Abdullah [al-Mouallimi], I’m not sure that the term “Arab Spring” correctly characterizes the events of the last year, but I would offer a couple of brief observations.

First, Saudi Arabia is stable. Its economy continues to grow amidst the turmoil and crisis that have impacted other countries in the region. Like everywhere else in the region, the younger generation has the most to gain or to lose. In Saudi Arabia, 60 percent of the population is 25 years or younger. But without detailing the specifics of each country, it is my observation that whole populations of people are seeking dignity. They are demanding that their governments be more responsive to their needs, and they are demanding that their governments are transparent and accountable in the process. Where governments have been responsive, there is stability. Where there has been a disconnect between the government and its people, there has been crisis.

The Saudi government under King Abdullah has demonstrated a keen willingness to be responsive on the key issues facing Saudis. These include jobs, housing, corruption, the development of civil society as well as the security apparatus. And there’s still much work to be done, and many of these challenges will require long-term solutions, but people want their governments to care about them. They want their governments to be responsive. And King Abdullah’s focus on growing and diversifying the Saudi economy is part of the evidence of the government’s responsiveness, and it contributes immeasurably to the Kingdom’s stability. Stability does not come from bumper stickers, nor does it come from repression. It comes from real people working together to make their country better. And in this room this evening you’re going to find an assortment of the kind of people that are bringing King Abdullah’s vision of the future to a reality.

First, my dear friend, Abdullah Zain Alireza.

If we can have a hand for [Applause] Minister Alireza, the Minister of Commerce, because he is so diligently focused on transforming the Saudi economy under the umbrella of a knowledge-based economy, and his mission is to create the three million jobs that Saudi Arabia will need in the workforce over the next ten years.

I would also acknowledge Prince Faisal bin Abdullah, who was singled out early, the Minister of Education, because it’s been his task to transform the Saudi education system to make its graduates competitive in a global economy.

Now, for you Americans, who have ever tried to introduce an idea at a PTA meeting, imagine what it is like to try to bring change across an entire country and its education system. That is what Prince Faisal has done. In my opinion, he has the hardest job in Saudi Arabia, and I am his biggest cheerleader.

I believe that the international community owes a great debt of gratitude to two people. Dr. Mohammad Al-Jasser who is the Governor of SAMA, the Saudi Arabian Monetary Agency, because he is behind the discipline and the monetary policy for Saudi Arabia.

Likewise, Finance Minister Assaf has given Saudi Arabia a conservative and disciplined fiscal policy. Not only do they serve the Kingdom well, but they have shown Saudi Arabia to be an island of stability in the rough seas of the international economic uncertainty.

Dr. Abdullah Al-Rabeeah has led a total revamp of the medical system in Saudi Arabia. As Minister of Health, he has reached out to the best and the brightest around the world, and it has been a real pleasure to see American talent welcomed into the Kingdom.

There are business partners here as well. Dr. Abdullah Dabbagh the former President and CEO of Ma’aden Mining, was the brains behind transforming mining and materials in Saudi Arabia. His team, his company, is teamed with Alcoa Aluminum, I think represented here by Ken Wisnoski, I think he is here this evening, on one of the most important joint ventures in the Kingdom.

And as we look to Saudi Arabia’s future, no one has a more daunting task than Dr. Hashim Yamani, who is the President of KA-CARE, the King Abdullah City for Nuclear and Renewable Energy. His task is to look to the future to define the renewable energy strategy, and make the key decision on where Saudi Arabia goes with renewables.

And I would also commend one of our own, Deputy Secretary Dan Poneman of the Energy Department, one of our most gifted public servants in our government, for bringing the vast resources in the United States to support Dr. Yamani’s efforts.

It would be impossible for me to describe the dynamics inside the Kingdom without addressing the positive impacts of women in Saudi Arabia. Earlier I mentioned Prince Faisal bin-Abdullah, his magnificent work in education, but I would offer that there’s someone in his household that is at least as influential as he is. His wife, Princess Adela, very quietly but with great determination supports the National Family Safety Centers, which are a series of domestic abuse centers in Saudi Arabia. Princess Adela is the sponsor of the Carega [phonetic] Center, a magnificent group of women in Jeddah. They focus on women’s empowerment, women entrepreneurship in an Islamic tradition. She’s a role model for countless Saudi women, and it’s fair to say that she is an inspiration to Janet and me, and many others as well.

Early on the first day, some of you heard Rami al-Turki. Rami. Are you out there? Sorry ladies, he’s off the market. He just recently got married. And you heard his wonderful presentation, but you probably don’t know his mother, Sally al-Turki – an American woman who fell in love with and married a distinguished Saudi named Khalid al-Turki. In her time in Saudi Arabia, she’s created and now runs one of the most impressive private schools in the country.

You heard Lubna Olayan this morning. She’s one of the most respected business leaders in the Kingdom, male or female. And she has been at the forefront of women’s education, training, empowerment, and employment. Tomorrow, you’re going to hear from Dr. Selwa al Hazzaa. She’s the head of ophthalmology at King Faisal Specialist Hospital. Dr. Selwa are you with us this evening? There she is. She’s a national expert in ophthalmology. She was King Fahd’s eye doctor, and most importantly she represents a generation of women who have led the way in education, medicine, and business, and they are the pathfinders for a young, energetic, and passionate generation of daughters.

Sixty percent of the college students in Saudi Arabia are women, and they will be a force in the future of this country. I know she’s a pathfinder because we know her daughter, nineteen-year-old Hala, a college student who decided that she was going to organize the first Walk for the Cure breast cancer awareness event in the Kingdom of Saudi Arabia. She did the planning. She got all the permissions. She had some mother’s advice along the way, but she and her fellow students did all the preparation work. And on Thanksgiving Day, November the 24th, something happened that I never thought would happen in the Kingdom during my tenure. Almost 1000 women showed up for a walk for breast cancer. They joined to support survivors of breast cancer, and to support each other as sisters. They represent all that’s good about an emerging generation of adults that want to be a part of building their country. Her work, their work, is truly courageous.

So for those of you that want to know about Saudi Arabia, these people are Saudi Arabia. They are looking to the future. They are looking for partnerships that will allow their country to succeed. And in a closing note, let me add also that they are my friends. These are the kinds of people that Janet and I have come to know and admire these last three years, and it gives me great pleasure to bring them home with me.

Thank you very much.

This presentation was part two from the dinner remarks of Saudi and American ambassadors. Part one was the presentation of Mr. Abdullah Al-Mouallimi, Saudi Ambassador to the United Nations. [Link]

***

The Honorable General James B. Smith
United States Ambassador to the Kingdom of Saudi Arabia

Ambassador James Smith was appointed U.S. Ambassador to the Kingdom of Saudi Arabia in September 2009. Prior to his appointment, Ambassador Smith had served in a variety of executive positions with Raytheon Company involving corporate strategic planning, aircraft manufacturing, and international business development.

Ambassador Smith served in the U.S. Air Force for 28 years. Trained as a fighter pilot, he logged over 4,000 hours of flight time in F-15s and T-38s. He served around the world in a variety of operational assignments and flew combat missions from Dhahran AB during Operation Desert Storm. He commanded the 94th Fighter Squadron, the 325th Operations Group and the 18th Fighter Wing (Kadena AB, Okinawa). In addition, he served in a variety of staff assignments involving coalition partners, and served as Air Force Chair and Professor of Military Strategy at the National War College. During his final assignment at U.S. Joint Forces Command, he led Millennium Challenge, the largest transformation experiment in history. He was promoted to Brigadier General in October 1998, and retired from the Air Force in 2002.

Ambassador Smith was a distinguished graduate of the U. S. Air Force Academy’s Class of 1974 and received the Richard I. Bong award as the Outstanding Cadet in Military History. He received his M.A. in History from Indiana University in 1975, and is also a distinguished graduate from the Naval War College, the Air Command and Staff College and the National War College.

***

Related Items:

• US-Saudi Business Opportunities Forum 2011 – Atlanta – SUSRIS Special Section
• US-Saudi Business Opportunities Forum 2010 – Chicago – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Home Page
• Business Forum: Ambassadors Exchange Views – The Saudi Side

ARABIALINK Daily News – Excerpts from International Media Reports
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2.1.12 EDITION

Saudi Arabia Cautious On Possible Afghan Talks: REUTERS

Angus McDowall | 1/31/12

Saudi Arabia is reluctant to host talks between the Afghan government and the Taliban without concessions from the Islamist movement including renouncing its ties to al Qaeda, sources in Riyadh and Kabul said on Tuesday. TALIBAN DENIES TALKS: The Afghan Taliban have denied planning to hold preliminary peace talks with representatives from the Afghan government in Saudi Arabia. Taliban spokesman Zabihullah Mujahid said media reports about an upcoming meeting in the kingdom were “not true,” BBC reports.

Top US Spy Warns Saudi Plot Shows Iran Willing To Attack The US On Its Own Soil: THE HILL

Jordy Yager | 1/31/12

Director of National Intelligence James Clapper warned a Senate panel that a 2011 plot to assassinate Saudi Arabia’s ambassador to the United States, which U.S. officials say was hatched in Iran, indicates that Iran Supreme Leader Ali Khamenei and his government are willing to launch attacks in the United States.

CIA Chief Says Appears Saudi Oil “Ramping Up”: REUTERS

1/31/12

Saudi Arabia’s oil production appears to be “ramping up” and can fill some of the demand shortfalls caused by sanctions on Iranian exports, CIA Director David Petraeus said on Tuesday.

US Ambassador Hosts Art Exhibition: ARAB NEWS

Abdul Hannan Tago  | 2/1/12

US Ambassador to Riyadh James B. Smith and his wife Dr. Janet Breslin-Smith hosted on Sunday night at their Riyadh residence the “ART in Embassies” exhibition dubbed “Connecting Families,” which was attended by media and both Saudi and American artists.

“Pearl Diving In the Gulf – 1938″ – Part 2 of Video Series “Distant Arabia”: ARAMCO EXPATS

1/31/12

Part 2 of the 12 part Distant Arabia video series courtesy of Selwa Press. The majority of the film clips posted on the Selwa Video You Tube channel are comprised of films taken in Saudi Arabia between 1937 and 1940 by Tom Barger, Les Snyder and Jerry Harriss. They are among the few moving pictures that record that critical and brief moment in the country’s history when an ancient pastoral way of life was coming to an abrupt end, to be replaced by an industrial society. Many of the Bedouin depicted had never seen an automobile let alone a movie camera before these men arrived. The herds of camels, once the lifeblood of Bedouin life, would become irrelevant. The dhows of the Gulf replaced by motor launches, the date oases, the very anchor of the Al Hasa economy, would become all but insignificant. All that remains of those days are these flickering images from a time before oil.

Saudi Mulls Labour, Financial, Legal Reforms: KHALEEJ TIMES

2/1/12

In a cavernous exhibition hall on the outskirts of Riyadh, dozens of young Saudi women, clad in full-length black abayas and veils, stroll between corporate booths in search of jobs.

Each has completed a 3-1/2 hour aptitude test that gives her scores for 10 behavioral characteristics and two types of cognitive ability. The results are shown to as many as 81 potential employers which schedule job interviews using a centralized, online system.

Saudi Arabia Nominates Al-Moneef as Next OPEC Head, Reuters Says: BLOOMBERG

Ayesha Daya | 2/1/12

Saudi Arabia has nominated Majid al- Moneef to become the next secretary-general of the Organization of Petroleum Exporting Countries, Reuters reported, citing an unidentified Gulf official.

Lockheed Martin Hosts Industry Collaboration Forum in Saudi Arabia: PRESS RELEASE

Lockheed Martin held its first Industry Collaboration Forum Jan. 29-30 in Riyadh, Saudi Arabia, launching an effort geared toward strengthening relationships with local industry and creating opportunities for new partnerships.

ABB Wins $250 Million Power Orders In Saudi Arabia: NASDAQ

2/1/12

Electrical engineering company ABB Ltd Wednesday said it has won orders worth more than $250 million from the Saudi Electricity Company (5110.SA) to construct new substations and reinforce existing ones in the country to address its growing demand for electricity.

Saudi Claims To Hack Syria President’s Email: EMIRATES 24|7

2/1/12

A hacker based out of Saudi Arabia, identified as Salman Al Anzi, claims to have hacked the private email account of Syrian president Bashar Al Assad, Saudi-based Arabic newspaper Al Madina reported. The hacker also claimed to have hacked into several Syrian ministries, including the Ministry of Information.

IRAN: UN NUKE INSPECTORS HAIL ‘GOOD’ TALKS WITH IRAN

The leader of a United Nations nuclear inspection team said Wednesday that their visit to Iran had been a “good trip,” and announced plans to revisit Tehran “in the very near future.”

The remarks by mission leader Herman Nackaerts indicated some progress on the team’s quest to wrest information from Iran about allegations that it is secretly working on an atomic arms program, MSNBC reports. OPINION: WEANING INDIAN OFF IRAN: How should India respond to U.S.-led efforts to halt Iran’s suspected rogue nuclear weapons program? An India that uses its oil purchases and diplomatic clout to create breathing room for Iran risks scuppering the notion New Delhi has benefited from for more than a decade: that India’s rise is beneficial to the West, WSJ reports.  CHINA LOOKS BOTH WAYS ON IRAN OIL: China’s response to calls from the West to join an oil embargo penalizing Iran for its nuclear program so far has been to choose the middle course typical of its non-interfering foreign policy of the last 30 years – denouncing sanctions on one hand yet working to protect its national interests on many fronts, Al Jazeera reports.

AFGHANISTAN: TALIBAN POISED TO TAKE BACK COUNTRY AFTER NATO LEAVES, THE US MILITARY SAYS

The U.S. military said in a secret report that the Taliban, backed by Pakistan, are set to retake control of Afghanistan after NATO-led forces withdraw, raising the prospect of a major failure of Western policy after a costly war, Hamid Shalizi and Mirwais Harooni (Reuters) reports.

SYRIA: PRESSURE AT UN ON RUSSIA AFTER REFUSAL TO CONDEMN SYRIA

The battle over Syria moved to the United Nations on Tuesday with Western powers and much of the Arab world confronting Russia and its allies in the Security Council over their refusal to condemn the Syrian government for its violent suppression of popular protests, Neil Macfarquhar (NYT) reports. WHY NO WORLD UPROAR?: Grainy videos depict the violence that has killed at least 6,000 Syrians, but the prospects for international intervention appear dim. Is the world inured to the ubiquitous images? CSM reports.

EUROPE: LONDON STOCK EXCHANGE BOMB PLOT ADMITTED BY FOUR MEN

Four men inspired by al-Qaeda have admitted planning to detonate a bomb at the London Stock Exchange, BBC reports.

ISRAEL: NETANYAHU WINS LIKUD CHAIRMANSHIP

Prime Minister Benjamin Netanyahu was victorious in the Likud Party chairmanship race, though his only challenger garnered about 24 percent of the vote, JTA reports.

PAKISTAN: ANTHRAX SENT TO PREMIER’S OFFICE

A university professor sent a packet containing anthrax to the office of Pakistan’s prime minister in October last year, his spokesman said Wednesday, an incident that will fuel security concerns in a country that is home to top al-Qaida leaders and other extremists, the AP reports.

TURKEY: WARNINGS FOR EUROPE OVER MOUNTING RACISM, ISLAMOPHOBIA

Turkish Prime Minister Recep Tayyip Erdogan on Wednesday warned of rising racism and Islamophobia in Europe as he once again denounced a recent French bill outlawing denial of Armenian genocide, the Daily Star reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
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1.31.12 EDITION

Connecting Interest With Business Opportunity: A Conversation With Khaled Al-Seif: SUSRIS

1/30/12

The 2nd US-Saudi Business Opportunities Forum in Atlanta last month brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and partnerships in Saudi Arabia – was something distinguished businessman Khaled Al-Seif has been working to see for years. Since at least as far back as 2005, when he helped lead a multi-city trade mission to Atlanta, he has been a steadfast champion of the business-to-business relationship between Saudis and Americans.

Saudis Push Young People, Including Women, Into Jobs: WALL STREET JOURNAL

1/31/12

With eyes darting over racks of sales items, 28-year-old Haya Murzouq worked the counter at her new job at one of Riyadh’s busier lingerie boutiques in December. With one hand, she checked a tag for a female customer. With the other, the Saudi woman hoisted the trailing end of her black head scarf over her face, draping it for modesty as she spotted male customers.

Few mall shoppers gave the shop a second glance, and a passing patrol of Saudi religious police didn’t bother to stop in, but Ms. Murzouq and her co-workers, all of whom are Saudi women, are doing things long unseen in the capital and much of the rest of the kingdom: staking out sales racks and scrubbing shop floors for all to see. JOBS FOR WOMEN NOW A CONCERN: Women in the western workplace sometimes complain of the glass ceiling. In Saudi Arabia it is often a glass wall that separates them from the men. So it should not have been surprising that the most interesting question to be posed to the kingdom’s labour minister at an international gathering of global business leaders in Riyadh last week came from behind such a glass wall, The National reports.

An Oil Minister, Plugging Renewables?: NEW YORK TIMES

Clifford Krauss | ‘Green’ Blog | 1/30/12

When you think of proponents of green energy, the Saudi oil minister may not be the first person who comes to mind. But in a speech on Monday in London, Ali al-Naimi, the minister from OPEC’s leading member nation, had a lot to say about renewable energy and global warming.

Saudi Bourse at Six-Month High; Egypt’s Index Ends Rally: BUSINESS RECORDER

1/31/12

The Saudi bourse hit a six-month high in active trading on Monday after a state-run fund said it would buy more shares, while Egyptian stocks snapped their rally ahead of talks on political transition.

Net Profitability for Saudi Firms Increases to SR94.8bn: ARAB NEWS

1/31/12

Profitability for the Saudi market in 2011 showed strong growth with market net income up 22 percent to SR94.8 billion from SR78.1 billion in 2010, NCB Capital, Saudi Arabia’s leading wealth manager, has said in a new report.

Zain Careers Beckon Saudi Youth: ARAB NEWS

1/31/12

Zain Saudi Arabia, ranked “excellent” in the Nitaqat scheme, has revealed plans to attract more talented Saudi nationals.

Saudi Tribalism Lingers For Kingdom’s Settled Bedouin: ARABIAN BUSINESS

1/31/12

The kingdom’s Bedouin might have forsaken a desert lifestyle that brought more hardship than riches, but their tribal identity retains a lingering influence in modern Saudi life and one that some Saudis believe may be enjoying a revival. 

Saudi Arabia Issues Oil-Supply Assurance: THE DAILY STAR

Reuters | 1/31/12

Saudi Arabia can meet any future world oil shortages thanks to massive investment, and its rising gas output will mean crude exports will not be affected by booming domestic energy demand, Oil Minister Ali al-Naimi said Monday.

Growing tension between Iran and the West over the Islamic Republic’s nuclear program has led to fears of a disruption in oil supplies from the Middle East Gulf.

Saudi Officials Walk Out in Protest at Iran Comments, Mehr Says: BLOOMBERG

1/31/12

A Saudi Arabian delegation walked out of a conference in protest after a former Iranian parliament speaker criticized the kingdom’s policies, the state-run Mehr news agency reported without citing anyone.

Saudis Want Swap For Imprisoned Royals: UPI

1/30/12

Saudi Arabia is seeking a prisoner swap for six Saudis, including three royal family members, reported to be on death row in Iraq, officials said.

Twitter Is A Platform For Lies: Saudi Grand Mufti: EMIRATES 24|7

1/29/12

Saudi Arabia’s Grand Mufti (religious chief) has launched a virulent attack on the social networking site Twitter, saying it has become a platform for promoting lies, newspapers in the Gulf Kingdom reported on Sunday.

Banks Probe Hacked Credit Cards: SAUDI GAZETTE

1/31/12

Customers at some local banks have withdrawn their money and closed their accounts in the wake of reports that hackers have accessed some credit card accounts. Banks have now employed teams of information technology experts to close the loopholes in their systems.

Saudi Docs Sue U Of Ottawa For $100M: CANADA NEWS

Kelly Roche | 1/31/12

Three doctors from Saudi Arabia are suing the University of Ottawa and several of its officials for more than $100 million.

Saudi Arabia: A Kingdom On The Move: THE DRUM

Ben Rich | 1/31/12

Saudi Arabia. The name evokes a visceral reaction in many people, conjuring visions of oppressed women swathed in black, hedonistic princes gliding across suntanned dune landscapes in cherry red Ferraris and a society subjected to a an ultra-conservative interpretation of Islam, Wahhabism, by a cynical Monarchy and a corrupt clerical establishment.

Indeed, the Western media has long promoted this view of the Kingdom and its occupants; an approach that has been reinvigorated in recent times by the various revolutions sparked across the Middle East.  There is incontestable truth in each of these images, but there is also a tendency towards simplicity in their presentation and an almost obsessive focus upon them as wholly descriptive of the Saudi experience.  This obscures the important cases of grass roots liberalisation occurring within the Kingdom on a daily basis, many of which are encouraged by the current ruler, King Abdullah.

AFGHANISTAN: AFGHAN OFFICIALS CONSIDER OWN TALKS WITH TALIBAN

Concerned that it is being left out of potential peace talks between the United States and the Taliban, the Afghan government is pushing to open its own direct negotiations with the insurgent group in Saudi Arabia, Afghan officials said on Monday, NYT reports. TALIBAN, US BEGINS TALKS WITH QATAR: Afghan Taliban negotiators are meeting with U.S. officials in Qatar for a series of discussions aimed at building trust between the two sides ahead of the upcoming peace talks, VOA reports.

SYRIA: DRAFT RESOLUTION TO UN CALLS FOR SYRIA’S ASSAD TO STEP DOWN

A draft resolution on Syria to be presented to the UN security council calls on President Bashar al-Assad to step aside or face “further measures” in 15 days’ time, but it stresses that any punitive measures would be peaceful, The Guardian reports.  LANDIS SAYS ASSAD WILL LAST: Audie Cornish talks with Joshua Landis, director of the Center for Middle East Studies at the University of Oklahoma. He says the Assad regime is likely to hang on far longer than anyone could have predicted when the uprising began last March, NPR reports. RUSSIA OPPOSES: Much of the attention focused on Russia, which stoutly opposes an Arab League proposal, backed by Western and Arab diplomats, that calls for Mr. Assad to cede power as part of a transition to democracy, NYT reports.

YEMEN: DRONE STRIKE KILLS 13

At least 13 people have been killed in air strikes on militants from al-Qaeda in the Arabian Peninsula in southern Yemen, residents and officials say, BBC reports.

UNITED STATES: OBAMA OFFERS DEFENSE OF DRONE STRIKES: President Obama offered a vigorous defense of using unmanned aircraft to kill Al Qaeda operatives and other militants in Pakistan’s tribal areas and, in the process, officially acknowledged the highly classified CIA drone program that U.S. officials had refused to discuss in public until now.

RELIGION: CITING ATTACKS, CHRISTIANS FEAR LOSING FREEDOMS IN ARAB SPRING

The Arab Spring uprisings that have toppled secular dictatorships in the Middle East and North Africa have unleashed long-suppressed freedoms that have allowed Islamic parties to gain a share of political power they have been denied for decades. Their rise is creating near-panic among ancient Christian communities that dot the Muslim world and predate Islam by centuries, USA Today reports.

PAKISTAN: CLASHES KILL 50

Pakistani officials say at least 50 people have been killed in fighting between the military and Taliban in the country’s northwest, VOA reports.

ISRAEL: UN LEADER CALLS FOR GOODWILL GESTURES FROM ISRAEL

UN leader Ban Ki-moon called on Tuesday for “goodwill gestures” by Israel to encourage the Palestinians to revive the Middle East peace process, ahead of talks with leaders from the two sides, AFP reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
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1.30.12 EDITION

Saudi Arabia’s Central Bank Eyes Bigger Role: ARABIAN BUSINESS

Reuters | 1/29/12

Saudi Arabia’s central bank will play a bigger role in the supervision of the country’s financial sector as the kingdom weighs opening up its stock market to direct investments by foreigners.

Saudi Bourse Opening To Boost Foreign Share of Stocks, RBS Says: BLOOMBERG

Arif Sharif | 1/30/12

Foreign investors’ share of trades on Saudi Arabia’s stock market, the Arab world’s biggest, may increase fivefold in two years after the bourse allows direct purchases, a banker at Royal Bank of Scotland Group Plc said. SAUDI ARABIA’S CENBANK, CMA TO COORDINATE SUPERVISION: Saudi Arabia’s central bank will play a bigger role in the supervision of the country’s financial sector as the kingdom weighs opening up its stock market to direct investments by foreigners, Business Recorder reports.

Saudi Arabia to Remain Reliable Supplier of Crude Oil to Markets: PLATTS

1/30/12

Saudi Arabia’s growing domestic energy consumption will have no impact on Saudi oil exports “now or in the future” and the kingdom will continue to be a reliable supplier of oil to world markets with capacity to handle future supply shortages, Saudi Oil Minister Ali Naimi said Monday.

Nitaqat Generates 300,000 Jobs: ARAB NEWS

1/28/12

The Nitaqat Saudization program was instrumental in generating more than 300,000 job opportunities in the private sector, according to Ibrahim Al-Moaiqel, director general of the Human Resources Development Fund (HRDF).

Saudi Arabian Inflation to Average 4.3% This Year, Al Rajhi Says: BLOOMBERG

Wael Mahdi | 1/29/12

Saudi Arabian inflation will average 4.3 percent this year as global commodity prices fall, Al Rajhi Capital, the investment arm of the country’s largest lender by market value, said today in an e-mailed report.

Economic Imperatives – Prince Turki: SUSRIS

William Ryan | 1/29/12

This week the 6th Annual Global Competitiveness Forum in Riyadh addressed the theme, “The Entrepreneurship Imperative.” Organized by the Saudi Arabian General Investment Authority (SAGIA), the GCM2012 featured a keynote address by Prince Turki Al Faisal on the second day of the three day event.  In his remarks he touched on entrepreneurship including the implications of risk and failure and a comprehensive examination of the Saudi and global economic environments.

Pilgrim’s Progress: Journey To the Heart of Islam: INDEPENDENT

Arifa Akbar | 1/30/12

Hajj: Journey to the Heart of Islam at the British Museum attempts to distil a spiritual experience into an art exhibition. Arifa Akbar, who has travelled to Mecca, is impressed.

Afghan govt, Taliban to hold talks in Saudi Arabia: Diplomat: PAKISTAN TRIBUNE

1/30/12

Afghan government officials and representatives of the country’s former Taliban rulers are to hold peace talks in Saudi Arabia, a Riyadh-based Afghan diplomat said on Monday.

Report: Saudi Women Will Be Allowed To Attend Soccer Matches In 2014 In New Stadium: WASHINGTON POST

1/28/12

A government-run Saudi Arabian newspaper reports that for the first time in the conservative Muslim country, women will be allowed to attend soccer matches in one of the country’s stadiums.

Charity Begins At Home For Saudi Arabia: FINANCIAL TIMES

Roula Khalaf | 1/30/12

Executives from around the world descended on Riyadh last week, days before they moved on to the main January event in Davos. Saudi Arabia’s annual Global Competitiveness Forum has become a necessary stop for those hoping to cash in on an economy flush with oil revenues at a time of financial turmoil in the west.

Saudi Warns Of Mideast Nuclear Race: ASHARQ ALAWSAT

1/26/12

An influential member of the Saudi royal family warned Wednesday that unless the Middle East becomes a nuclear weapon-free zone, a nuclear arms race is inevitable and could include his own country, Iraq, Egypt and even Turkey. Prince Turki Al Faisal said the five permanent U.N. Security Council members should guarantee a nuclear security umbrella for Mideast countries that join a nuclear-free zone — and impose “military sanctions” against countries seen to be developing nuclear weapons.

Saudi Shura Council Asks to Oversee Aramco Income, Riyadh Says: BLOOMBERG

Wael Mahdi | 1/30/12

Saudi Arabia’s consultative body, the Shura Council, voted yesterday seek the right to oversee and review the income and activities of Saudi Arabian Oil Co., al- Riyadh newspaper said, citing members of the council.

Aramco to Host CSR Forum on Feb. 1: ARAB NEWS

1/30/12

Saudi Aramco will host and organize the first corporate social responsibility (CSR) forum in Dhahran on Wednesday.

Kingdom, Iraq Not To Execute Each Other’s Prisoners: ARAB NEWS

1/28/12

Saudi Arabia and Iraq have agreed in principle to put on hold execution of prisoners on death row in the two countries for at least two months until a final agreement to swap prisoners is reached.

OBG Report Focuses On Saudi Developments: TRADE ARABIA

1/30/12

The massive investment Saudi Arabia is making in major developments across the sectors of its economy, including housing, transport and oil refinery projects, is given wide-ranging coverage in a new report published by Oxford Business Group (OBG).

IRAN: WILL ISRAEL REALLY ATTACK IRAN?

The real answer is no, they will not. But you would never figure that out by reading the New York Times. The sensationalist article in the Sunday New York Times Magazine (Jan. 29) adds to the hysteria surrounding U.S. and Israeli relations with Iran. Ronen Bergman, a columnist with the leading Israeli newspaper Yedioth Ahronoth, concludes that Israel will probably attack Iran this year, Gary Sick (Gary’s Choices) writes. GROWING ELITE OPPOSITION TO STRIKE IRAN: Like the imminent prospect of one’s hanging, to paraphrase the 18th century British essayist Dr (Samuel) Johnson, the suddenly looming possibility of war can concentrate the mind wonderfully. If that aphorism didn’t apply in the run-up to the United States invasion of Iraq nearly 10 years ago, it appears to be the case now for key sectors of the US foreign-policy elite – notably, liberal hawks who supported the Iraq war – with regard to the sharp rise in tensions between Iran and both the US and Israel earlier this month, Jim Lobe (Asia Times) writes. ATTACK COULD CAUSE GREAT RECESSION: This week renowned economist Nouriel Roubini told the Associated Press that a military conflict with Iran could lead to a global recession. Roubini was interviewed at the World Economic Forum meeting in Davos, Switzerland, Jasmin Ramsey (Lobelog) writes.

SYRIA: ASSAD TROOPS FIGHT BACK AGAINST SYRIA REBELS

Street battles raged at the gates of the Syrian capital on Monday as President Bashar al-Assad’s troops sought to consolidate their grip on suburbs that rebel fighters had taken only a few miles from the center of government power, Reuters reports.  END OF OBSERVER MISSION OPENS DOOR TO MORE CONFLICTS: Just a day after the Arab League suspended its monitoring mission to Syria, the nation has erupted into what some observers have called the “fiercest violence” in months, CSM reports. EU LEADERS PRESS FOR UN RESOLUTION ON SYRIA: British and French foreign ministers say they are heading to New York to press for a United Nations resolution aimed at halting Syria’s violent crackdown, USA Today reports.

IRAQ: SUNNI-BACKED LAWMAKERS END PARLIAMENT BAN

An official with Iraq’s Sunni-backed political alliance says its leaders have decided to end a parliament boycott, but the bloc’s ministers will stay away from Cabinet meetings to protest arrests and prosecution of Sunni officials, Asharq Alawsat reports. DOZENS KILLED IN ATTACK ON FUNERAL PROCESSION: Dozens of people were killed and wounded when a suicide car bomber attacked a funeral procession in Baghdad on Friday, days after an al Qaeda-linked insurgent group warned it would step up its fight against Iraq’s government, security forces and Shiite majority, WSJ reports.

AFGHANISTAN: ANOTHER TIFF BETWEEN US, KARZAI?

News of the meeting in Saudi Arabia comes weeks after the Taliban agreed to open an office in Qatar and has raised some concern that Karzai could create the appearance of a disjointed negotiation effort that could undermine peace efforts and threaten relations between the Afghans and the West, Tom A Peter (CSM) writes. AFGHANISTAN TO PRESS PAKISTAN FOR ACCESS: Afghanistan will press Pakistan for access to Taliban leaders during a one-day visit to Kabul by Pakistan’s foreign minister, with Afghan officials hoping to ease cross-border strains and lay the ground for peace negotiations with the insurgents, Reuters reports.

EGYPT: CONSENSUS UNLIKELY ON EARLY POWER TRANSFER

The head of Egypt’s Islamist Nour party, whose bloc came second in parliamentary elections, said he doubts political groups will united behind calls for the ruling generals to cede power earlier than a June deadline, Bloomberg reports.

PALESTINE: PA SUSPENDS PLANS TO RAISE TAXES

The Palestinian Authority announced on Sunday it was suspending plans to raise income tax that have sparked widespread protests but said it was still seeking ways to cut costs in 2012 to plug a gap resulting from lower-than-expected foreign aid revenues, Reuters reports. LEADER OF HAMAS MAKES RARE TRIP TO JORDAN: Khaled Meshal, the leader of Hamas, made a rare and pointedly low-key visit to Jordan on Sunday, days after Hamas officials signaled that he had effectively abandoned the group’s base in Damascus, the Syrian capital, Stephen Farrell (NYT) reports.

EUROPE: EXTREMIST JAILED FOR PLANNING ATTACKS ON NEWSPAPER

Two men accused of plotting to attack a Danish newspaper that published cartoons depicting the prophet Muhammad have been found guilty in the first convictions under Norway’s anti-terror laws, The Guardian reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

Editor’s Note:

The 2nd US-Saudi Business Opportunities Forum in Atlanta last month brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and partnerships in Saudi Arabia – was something distinguished businessman Khaled Al-Seif has been working to see for years. Since at least as far back as 2005, when he helped lead a multi-city trade mission to Atlanta, he has been a steadfast champion of the business-to-business relationship between Saudis and Americans.

SUSRIS was there in Atlanta in 2005 to talk with Mr. Al-Seif about the specific purposes of the trade mission, the development of investment and partnerships in what, then, was emerging as a major expansion of economic opportunity in the Kingdom. He told SUSRIS, “Saudi Arabia is seeing another boom in the making, an economic boom which in my opinion will be wider and deeper than the boom in the 70′s… There are so many opportunities in the private sector now that were not dreamed of ten years ago.” We also talked about the context, beyond the dollars and cents of new deals, of the commitment to build bridges with American business people:

“The business relationship between the United States and Saudi Arabia is an old and historic relationship, which has been very beneficial for both Saudis and Americans. Over the years America has been Saudi Arabia’s primary trading partner. Most of the things you see in Saudi Arabia are a result of this relationship — American technology starting from oil exploration to infrastructure and public works. You even see American influence in our standards due to the success of this relationship over the years. The development that has happened in Saudi Arabia we owe to American companies that have worked hard in the Kingdom. They have gained and we have gained. American exports to Saudi Arabia have provided hundreds of thousands of jobs in the US. Likewise, our economy has benefited from American business involvement so it has been the perfect partnership over all those years. What happened on September 11 was a shame. What was also a shame was how a group of terrorists could have damaged the relationship between Saudi Arabia and the US. Just as we have been business partners we are now partners in the war on terrorism. Saudi Arabia and America are cooperating in the fight against the terrorists and we are winning this war together.

“The trade mission’s purpose is not just to attract investments. Many in the private sector in Saudi Arabia are worried about the relationship with our American partners. We consider American companies very talented and great friends and we worked with them for many years. As I mentioned the United States has been our primary trading partner for decades. We saw the relationship deteriorate after Sept 11, including the business ties. With the upturn in Saudi Arabia’s economic prospects a lot of people from other countries started coming to Saudi Arabia for business. What we are worried about is that others will take the place of the US as our trading partner. So given the history of our partnership with Americans we owe it to the relationship to do just what we are doing now — reaching out to American companies, to our old friends, to tell them what is going on in our country, to tell them about all the exciting opportunities out there and to invite them to come over to Saudi Arabia. What we are really saying to them is that Saudi Arabia again welcomes American business partners and we, as Saudis, will be open to work together. There is a great future and great business to be done there and we would love to do it together.”

Six years later the success of the US-Saudi Business Opportunities Forum in Atlanta has been testimony to the forecast that there is “great business to be done” and that Americans and Saudis are doing it together.

This is part two of the exclusive SUSRIS interview with Mr. Al-Seif conducted on the sidelines of the US-Saudi Business Opportunities Forum in Atlanta, Georgia. You can read Part One [“Change and Reform: A Conversation with Khaled Al-Seif”] at this link.

***

Connecting Interest with Business Opportunity: A Conversation with Khaled Al-Seif

[SUSRIS] How does the Business Opportunities Forum in Atlanta compare to last year’s event in Chicago and the other bridge building efforts you have championed in the past.

Eng. Khaled Al-Seif

[Eng. Khaled Al-Seif]I was pleased with the results of the Chicago Forum and I am pleased with what is being accomplished here at the Atlanta forum in all the areas we sought to emphasize – a very high level of participation in terms of the quality of the program and the numbers of participants, the chance to network with future partners and build relationships, and the resources available for developing business opportunities.

I spent time going around to the various workshops so I could see the levels of participation among the American and Saudi business people. What I saw was a very high level of energy, and a lot of enthusiasm for the discussions and opportunities that were presented. I could see that these are very seasoned, professional business people attending and I am hopeful that at the end of the day there are going to be a lot of deals done and increased interest among American companies to come and work with Saudi Arabia.

[SUSRIS] How does this forum compare to similar events in the past?

[Al-Seif] Let’s go back to an earlier interview with SUSRIS. It was at the 2005 Saudi Trade Mission, coincidentally here in Atlanta. That was a stop for the Saudi delegation’s visit to five states. We worked very hard to bring American and Saudi business people together to explore what, at the time, was an exceptional range of opportunities – over $600 billion – in the Kingdom. You may recall it was a very large effort. We brought a large contingent of influential business people from Saudi Arabia ready to talk about the commercial opportunities. We invited a lot of people from around the States, but you remember the size of the audience. It was less than 20 percent of what we see here in Atlanta this time. That simple fact really tells the whole story.

So what has changed? Well, American companies are more interested in doing business in Saudi Arabia. They want to take advantage of the incredible opportunities and there has been a rebound in the strength of the relationship between the people. The problems that may have existed five or ten years ago in the relationship are behind us. I feel quite confident looking forward it will be an excellent relationship filled with mutually beneficial partnerships and strengthened bridges between Americans and Saudis.

I’m also very confident that you’ll see many more American businesses and joint ventures. I saw several companies here that are ready to set up shop in Saudi Arabia. They want to export their products there and they want to work there.

[SUSRIS] The forum keynote speaker, Ms. Lubna Olayan, pointed out some of the frictions in the relationship but she argued that business people continue to seek closer ties. Ford Fraker, a distinguished businessman and Middle East old hand in addition to being the most recent US Ambassador, makes a similar argument that the relationship is more than diplomacy and it is to a large extent the business piece that helps keep the rest of it going. How do you see it?

[Al-Seif] I would agree with that. Business people by nature are driven to find solutions to problems and to find ways to make both themselves and their partners winners. There are many old, established ties that continue, that have prospered down the years of the decades-long relationship between Saudi Arabia and the United States. For a time, as our economy was expanding more American companies were needed but they were not showing up. Now we are more confident that our longstanding American partners – and new partners as well – are going to join in to take advantage of the tremendous economic expansion we are experiencing in Saudi Arabia.

[SUSRIS] Saudi Arabia has shown remarkable financial stability through the global recession doing much better than most other economies around the world. What has the Kingdom has been doing right in this regard?

[Al-Seif] Yes, Saudi Arabia has been isolated from much of the global economic troubles. Today Dr. Mohammad Al-Jasser, the Governor of the Saudi Arabia Monetary Agency led a discussion on shared responsibility in the global financial system. In addition to his expert assessment of the global picture – as you know the Kingdom is a member of the Group of Twenty global economic leaders – he was very clear that Saudi Arabia benefited from what he called “safeguarding the home front,” describing a counter-cyclical approach to fiscal strategy. It focuses on paying down debt during a cycle upswing and employing budget deficits during downturns, as a way to protect the economy.

So what did the government do when oil revenue started to increase – the upside of a cycle in Saudi Arabia? The first thing was to settle the debt and to build up reserves. Then they were able to focus on necessary spending and that’s exactly what the government did after 2008 when there was a recession all over the world that could have negatively affected Saudi Arabia. The Kingdom acted by committing an additional $400 billion to what was in the annual budget. It allowed for, among other things, extra projects including needed schools, universities, and hospitals – you know the things that build the infrastructure of the country. What the government did was very intelligent. It stimulated the economy within Saudi Arabia. It increased the liquidity in the market. Moreover the stimulus wasn’t only aimed at the domestic economy. Because we import a lot of things from overseas it also helped trade volumes. More goods and services were flowing into Saudi Arabia from all over the world.

The Saudi stimulus certainly offset some of the recessionary effects in the global economy. It was a tremendous engine for the Saudi economy and an engine for other countries that export to the Kingdom. The government has continued to stimulate the economy. More funds are allocated for a host of projects. You know they’re going to build the whole railway infrastructure, for example, and this is national wealth. When you build a railway it is there for hundreds of years. No individual can do that.

What do these projects lead to? They are part of the national infrastructure that has secondary and tertiary considerations. They open up many other commercial opportunities and help the country diversify the economy and increase prosperity. For example a national railway facilitates expansion in the mining sector. In the case of mining, Saudi Arabia has some of the largest mineral reserves in the world. The Saudi Arabian Mining Company, Ma’aden, is a world-class operation that brings to market phosphates, bauxite for aluminum production, industrial minerals and gold and base metals. You might have seen the briefing at this forum about the $10 billion joint venture between Ma’aden and Alcoa as well as Dr. Rabiah’s presentation on Modon, the Industrial Property Authority. There’s much more being done and much more for American partners to get involved in: power generation, agriculture, healthcare, education, IT, construction, finance, and so forth.

All of these efforts are made possible and sustainable by the government investment in infrastructure, which in turn was boosted by the counter-cyclical stimulus spending philosophy.

[SUSRIS] Can you talk about this aspect of the economy, not just expansion but diversification?

[Al-Seif] Saudi Arabia has done much in terms of diversifying the economy, so that it does not rely so much only on oil exports. That’s why the Industrial Clusters Program, for example, is very helpful and important. It’s not just a concept it’s an actual program that is pushing development in five fast-growing industrial sectors, that emphasize exports. In addition to mining and production of metals that we talked about the Clusters focus on solar energy, plastics, appliances and automotive. These sectors benefit from Saudi Arabia’s advantages of raw materials and energy to be able to add value and produce exports with great promise. The Industrial Clusters are just one more tremendous area where Saudi Arabia is attracting serious minded business partners from the United States. There is much more, of course, and this forum is filled with discussions about the many sectors where opportunities abound for our American partners to get involved in Saudi Arabia.

There is one more idea that deserves attention and that is the focus on Saudi Arabia as a knowledge-based society that you’ve been hearing about. The primary capital in Saudi Arabia as in any country is the human capital. We have to make sure that all Saudi citizens are well-educated, that they receive the proper education, the proper tools, to become healthy, prosperous and productive citizens in the society, for their well being and for the well being of the country.

[SUSRIS] What are you telling the American businesspeople that you meet here about Saudi Arabia, the ones who may not know so much about it, who have questions?

[Al-Seif] The fact that they are spending their valuable time here at the Forum and investigating the opportunities says much about their motivation to do business with partners in Saudi Arabia. As far as answering questions and providing information it’s all here at the Forum. There are top officials from the American and Saudi governments and business communities presenting detailed, authoritative information on the commercial expansion and openings in the Kingdom and how to get started.

Apart from the Forum I would suggest they do their homework, learn about the sectors and opportunities where they have interest. They should contact the organizers of the Forum, contact SAGIA, the General Investment Authority. They should read your material on SUSRIS about doing business in Saudi Arabia. Then they should come visit, make contacts, and grab some of the opportunities that are there.

Today I had conversations with the U.S. Ambassador in Saudi Arabia and the Commercial Attaché, who are here in the Forum. We feel that it’s time to have one of these US-Saudi Business Opportunity Forums in Saudi Arabia. We should invite American businesses to come over there and see it for themselves. I think we’re going to work on that, to organize a forum in Saudi Arabia, because they’ve got to see it, you know. Seeing is believing.

The opportunities are really great, and the market is very, very hospitable to American businesses. Saudis have always held high the relationship with their U.S. partners. American businessmen will tell you they have been very welcomed in the Kingdom. They’ve been offered all the assistance possible through the government and the private sector. If anybody has any difficulty, they can always get help by calling the Committee for International Trade or the Council of Saudi Chambers of Commerce, and we will give them all the assistance that they need.

[SUSRIS] Thank you for sharing your insights on these important questions.

[Al-Seif] You’re very welcome. Thank you for bringing attention to the Forum and the business opportunities.

***

ABOUT KHALED AL SEIF

Eng. Khaled Al-Seif

Khaled Musaed Al Seif is a businessman and a leading member of the business community in Saudi Arabia who manages one of the largest business groups in the Kingdom. He is active in various committees and councils dealing with the promotion of international trade and bridging relations with the West.

Mr. Al Seif previously served as Chairman of the Saudi Committee for International Trade (CIT) at the Council of Saudi Chambers of Commerce and Industry. He has officiated as Co-Chairman of the Saudi-British Joint Business Council since 2007; Member of the Board of U.S.-Saudi Arabian Business Council since 2006, Member of the Advisory Board for Economic Affairs at the Saudi Supreme Economic Council since 2005, Board member of Royal Philanthropic Society for Science (Prince Sultan University) since 1999; Board Member of the Arab-British Chamber of Commerce, London, UK since February 1996; on the Board of Directors of Riyadh Chamber of Commerce and Industry, Riyadh, Saudi Arabia (1993-2001 and 2004-2008); and President and CEO of El Seif Group of Companies, Riyadh, Saudi Arabia since 1975.

As the President and CEO of El Seif Group of Companies, Mr. Al Seif is the Chairman of the following Saudi and International companies: El Seif Commercial Investment Company Ltd; Musaed Al Seif & Sons Company; International Management Development Company; Dana Investment and Development Company; El Seif Engineering Contracting Company, and Marina Towers S.A.L.; and El Seif Holding Company in Lebanon. He is Also a Board Member of some other domestic and international companies which include but not limited to: Saudi Medicare Company; National Power Company; Modern Arab Construction Company: Arabian Medicare Company; Universal Advanced Systems Company; and El Seif Development Company.

Mr. Al Seif holds a B.S. in Civil Engineering from the American University in Beirut.

***

Related Items:

• US-Saudi Business Opportunities Forum – Special Section – SUSRIS
• Change and Reform: A Conversation with Khaled Al-Seif – SUSRIS Exclusive – Jan 22, 2012
• American Businesses and Saudi Opportunities: A Conversation with Khaled Al-Seif – SUSRIS Exclusive – Sep 4, 2008
• A Man With A Mission: Khaled Al Seif Talks About US-Saudi Business Relations – SUSRIS Exclusive – May 23, 2005

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.27.12 EDITION

Obama: U.S. ‘Saudi Arabia of Natural Gas’: US NEWS

1/27/12

President Obama called America the “Saudi Arabia of natural gas” Thursday and said the country should start using natural gas to power more cars and trucks.

Boeing hails Saudi deal amid $1.4bn Q4 profit:  ARABIAN BUSINESS

Andy Sambidge | 1/27/12

US plane maker Boeing has highlighted a $29.4bn agreement to deliver fighter jets to Saudi Arabia as one of its key deals of 2011.

DAVOS: Saudi Finance Minister Sees GDP At 6.8% In 2012: WALL STREET JOURNAL

1/26/12

Saudi Arabia’s economy, the largest in the Arab world, is likely to maintain its gross domestic product growth rate of 6.8% this year due to the kingdom’s expansionary budget, which will play a vital role in supporting the economy, the nation’s finance minister said Thursday. OIL MARKET SUPPLY ADEQUATE: Finance Minister Ibrahim Al-Assaf said on Thursday that supply to global oil markets was “adequate” and that he was comfortable with oil prices at their current level at DAVOS, Arab News reports.

New Saudi Minister of Commerce and Industry HE Tawfiq al-Rabiah Active in New Role: ARABIANOMICS

Lucien Zeigler | 1/27/12

His Excellency Tawfiq al-Rabiah, the recently appointed Saudi Minister of Commerce and Industry has been active in his new role with the Saudi Government. Minister al-Rabiah, who was appointed to the position in December of 2011, has already led delegations from the Kingdom of Saudi Arabia to India and Geneva, and has met with US Trade Representative Ron Malone.

Saudi Arabia’s Prince Turki Calls Reform ‘Work in Progress’: BLOOMBERG

1/26/12

Saudi Arabian modernization is “a work in progress” and the country needs to expand education and employment for its youth as it diversifies the economy, Prince Turki Al-Faisal said.

Saudi to Recognize Syrian National Council: KHALEEJ TIMES

AFP | 1/27/12

Saudi Arabia will recognize the Syrian National Council as the “official representative” of the Syrian people, a senior member of the opposition group said in remarks published on Friday.

Expo On Rare Arabian Relics Opens In Berlin: SAUDI GAZETTE

1/27/12

Prince Sultan Bin Salman Bin Abdul Aziz, President of Saudi Commission for Tourism and Antiquities (SCTA), and Klaus Wowereit, Berlin Mayor, opened here Wednesday the Exhibition entitled “The Saudi Archeological Masterpieces through the Ages”.

Mighty Wins Coveted Contract With Saudi Arabia: AFTERMARKETNEWS.COM

1/27/12

Top executives from Mighty Distributing System of America (Mighty Auto Parts) recently returned from Jeddah, Saudi Arabia, where they signed a Master Distributorship Agreement with Petromin Corp., which is headquartered there.

ISRAEL: WORLD PRESSES ON ISRAEL, PALESTINIANS TO EXTEND EXPLORATORY TALKS

The International community urged Israel and the Palestinians to keep their exploratory Jordanian- sponsored meetings after the Palestinians announced that the time- out for these talks had finished on Thursday, a well-informed Palestinians source said, Xinhua reports.

SYRIA: RUSSIA CRITICIZES ARAB-WESTERN DRAFT RESOLUTION

Russia says it cannot support the current version of a joint Arab-Western draft U.N. resolution on Syria because it “does not take into account” Moscow’s positions on how to end the 10-month-old political crisis, VOA reports.

IRAN: LEADERS MULLING PRE-EMPTIVE EMBARGO

Iran said Thursday it was considering pre-empting a European Union oil embargo and called on the Organization of Petroleum Exporting Countries to intervene against a Saudi pledge to fill the supply gap, as its strongest response to date to the EU ban drove oil prices higher, Wall Street Journal reports.

IRAQ: SUICIDE BOMBER KILLS 31

A suicide bomber detonated his explosive-filled taxi near a funeral procession in Baghdad on Friday, killing 31 people in the latest attack in a Shi’ite neighborhood amid rising violence since an Iraqi political crisis erupted in December, Reuters reports. AL QAEDA LEADER GUNNED DOWN: A senior leader of Awakening Council group in Iraq was shot dead in western Baghdad by unidentified gunmen, an Interior Ministry source told Xinhua on Wednesday, Xinhua reports.

BAHRAIN: THE CULTURAL PEARL IN THE GULF

Bahrain is the only island state in the Middle East and the smallest Gulf member. We have heard a lot about Bahrain recently, but where is it exactly? Bahrain is actually a chain of 33 islands in the Arabian Gulf and is situated between Saudi Arabia’s east coast and Qatar peninsula. Bahrain is the largest of the islands and is about 48 km long, ETurboNews writes, in a summary of the country’s travel sector.

ISLAM: NYPD USED ANTI-MUSLIM TRAINING VIDEO

The New York Police Department is in hot water for showing some 1,400 of its officers a film during their training that depicts American Muslims as covert extremists, a controversial decision and one that directly contradicts previous statements by NYPD officials that greatly understated their use of the feature-length film, Abby Olheiser (Slate) writes.

PAKISTAN: MILITARY ACADEMY ATTACKED NEAR BIN LADEN HOUSE

The attack damaged a wall of the training centre but no-one was hurt, according to local officials and police, Telegraph reports.

OIL: CHINA, UAE DITCH DOLLAR, WILL USE YUAN FOR TRADE: REPORT

The US dollar is fast losing out its reserve currency status with China aggressively replacing the dollar with the Yuan as a currency for bi-lateral trade. The latest is an agreement signed between the China and the United Arab Emirates (UAE), which will use the Yuan for oil trade, Commodity Online reports.

OPINION: WHAT SHELDON’S MONEY BUYS

It is safe to say that without multi-billionaire Sheldon Adelson’s help the chances of Newt Gingrich becoming the Republican nominee for president would be zero — and consequently the race itself, going into Florida at the moment, would not be the competitive, drag-out fight it has become. Adelson, the hotel and casino magnate, has kept Gingrich alive, first through an infusion of $5 million into a super PAC, which allowed the former speaker to defend himself against attacks by Mitt Romney and led to Gingrich’s thumping victory in South Carolina. And now we know that Adelson’s wife, Miriam, has committed another $5 million to the cause of Newt, writes Gal Beckerman (Jewish Daily Forward).

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.26.12 EDITION

Saudi Arabia Issues Its First Sovereign Islamic Bond: NEW YORK TIMES

Sara Hamdan | 1/25/12

Saudi Arabia issued its first government-backed Islamic bond this week, for its aviation agency, setting a benchmark for pricing of conventional and Islamic bond issues this year because of its size. At 15 billion riyals, or $4 billion, it was the largest Islamic bond, or sukuk, ever issued within the kingdom. The sukuk, guaranteed by the Saudi Ministry of Finance, was oversubscribed three times, and the Saudi General Authority for Civil Aviation will use the proceeds to finance the expansion of King Abdulaziz International Airport in Jidda, the second-largest city in Saudi Arabia, after Riyadh.

Al-Rabiah Starts Discussions In Trade Policy Review Meeting In Geneva: ARAB NEWS

1/26/12

Minister of Commerce and Industry Tawfiq Al-Rabiah began detailed discussions on the Kingdom’s Trade Policy Review at the headquarters of the World Trade Organization (WTO) in Geneva on Wednesday. Al-Rabiah is heading the Saudi delegation participating in the policy review meetings. U.S. STATEMENT ON THE TRADE POLICY REVIEW OF SAUDI ARABIA:  Participating in Saudi Arabia’s first Trade Policy Review since the Kingdom joined the WTO in 2005, Ambassador Michael Punke, Deputy U.S. Trade Representative and U.S. Permanent Representative to the WTO, provides an overview of the U.S.-Saudi trade relationship.

AP Interview: Saudi Warns Of Mideast Nuclear Race: BOSTON GLOBE

AP | 1/25/12

An influential member of the Saudi royal family warned Wednesday that unless the Middle East becomes a nuclear weapon-free zone, a nuclear arms race is inevitable and could include his own country, Iraq, Egypt and even Turkey. Prince Turki Al Faisal said the five permanent U.N. Security Council members should guarantee a nuclear security umbrella for Mideast countries that join a nuclear-free zone — and impose “military sanctions’’ against countries seen to be developing nuclear weapons.

Jerusalem Concerned: Saudi Air Force To Outnumber Israel’s Advanced US Jet Fleet: DEBKA FILE

1/25/12

With its latest acquisitions from Washington and Europe, the Saudi Air Force will have more fighter-bombers of more advanced models that the Israeli Air Force. Deep concern over this was recently relayed by Prime Minister Binyamin Netanyahu and Defense Minister Ehud Barak to President Barack Obama, Secretary of State Hillary Clinton and Defense Secretary of Defense Leon Panetta.

Saudi Aramco Moves Ahead With $7 Billion Jazan Plant, MEED Says: BLOOMBERG

Ayesha Daya | 1/26/12

Saudi Arabian Oil Co. will invite contractors this month to prequalify to bid to build the $7 billion Jazan refinery in the Red Sea province, the Middle East Economic Digest reported, citing contractors it didn’t identify. The plant will have a 400,000 barrel-a-day capacity.

Saudi Oil 30-Year Output High Amid Gulf Tensions: SUSRIS BLOG

William Ryan | 1/24/12

Saudi Arabia’s monthly crude oil production jumped 7.3% in November topping 10.04 million barrels per day, a 30-year high mark, according to data compiled by JODI. The output numbers “came with an increase in exports and a decrease in domestic consumption,” according to Bloomberg Television’s Lara Setrakian who added, “it reflects OPEC as a whole.”

Saudi Hospital Wins Global Recognition for IT: TRADE ARABIA

1/25/12

King Faisal Specialist Hospital & Research Center (KFSH&RC) in Riyadh and Jeddah has achieved Stage 6 on the Electronic Medical Record Adoption Model (EMRAM), which scores hospitals on the use of IT. CLEVELAND CLINIC TRAINING PROVIDERS IN SAUDI ARABIA: Cleveland Clinic has signed an affiliation agreement with professional managed healthcare company Healthcare Development Holding Co. to provide medical education and training to healthcare providers in the Kingdom of Saudi Arabia, reports Fierce Healthcare.

Nine Held in Qatif as Police Raid Hide-Out: ARAB NEWS

1/25/12

Police have arrested nine suspects involved in recent shoot-outs with security patrols in the Qatif governorate in the Eastern Province.

Kingdom Wants Prisoner Swap Accord With Iraq: ARAB NEWS

1/26/12

Saudi Arabia has asked Iraq to sign a bilateral agreement to exchange prisoners, local Arabic daily Al-Eqtisadiah reported Wednesday, quoting an official source at the Iraqi Embassy in Riyadh.

Entrepreneurs, Saudi Arabia and Mobile Apps: YBI

Andrew Davenport | 1/26/12

For me, a first time attendee and speaker at the annual Global Competitiveness Forum in Riyadh, it has been a fascinating event with real insights into entrepreneurship in the Middle East. While having a strong international (mostly US) flavor, it was established by the Saudi Arabian General Investment Authority as an unashamed attempt to bring a profile and focus to attempts to raise the competitiveness of this resource rich middle income economy.

Academic Partner to Support SAGIA’s ‘Entrepreneurship Village’: ARAB NEWS

1/25/12

The Saudi Arabian General Investment Authority (SAGIA) launched a new initiative – dubbed the “Entrepreneurship Village” – on the final day of the Sixth Global Competitiveness Forum in Riyadh.

Abraaj May Invest in Egyptian, Saudi Arabian Companies: BUSINESSWEEK

1/25/12

Abraaj Capital Ltd., the Middle East’s biggest private-equity company, is in “advanced stages” of investing $20 million in small and medium-sized Egyptian companies and is also targeting investments in Saudi Arabia.

SOMALIA: U.S. SPECIAL FORCES FREE TWO AMERICAN HOSTAGES IN RAID

U.S. special operations forces swooped into Somalia on Wednesday and rescued two hostage aid workers after killing their nine kidnappers, a rare and daring raid in the Horn of Africa nation to free foreign captives. American Jessica Buchanan, 32, and Poul Hagen Thisted, 60, of Denmark, humanitarian aid workers for a Danish demining group, were rescued three months after they were kidnapped on October 25 in the town of Galkayo in the semi-autonomous Galmudug region of the Horn of Africa country, Reuters reports.

UNITED STATES: THE FUTURE OF MILITARY: MORE DRONES, FEWER TROOPS

The Pentagon plans to expand its global network of drones and special-operations bases in a fundamental realignment meant to project U.S. power even as it cuts back conventional forces.

The plan, to be unveiled by Defense Secretary Leon Panetta on Thursday and in budget documents next month, calls for a 30% increase in the U.S. fleet of armed unmanned aircraft in the coming years, defense officials said. It also foresees the deployment of more special-operations teams at a growing number of small “lily pad” bases across the globe where they can mentor local allies and launch missions, the Wall Street Journal reports.

EGYPT: COUNTRY BARS SAM LAHOOD FROM LEAVING

Officials of the group, the International Republican Institute, said the Egyptian authorities had blocked its Cairo chief, Sam LaHood, from boarding a flight at the airport several days ago. His father is Ray LaHood, the transportation secretary and a former Republican congressman from Illinois. Officials of the group said Egyptian legal authorities told them four others, including two other Americans, had been barred from travel outside the country as well. COUNTRY PROTESTERS PLAN SIT IN UNTIL ARMY LEAVES: Egyptian youths camped out on Thursday in Cairo’s Tahrir Square and vowed to stay put until the army hands power to civilians, a day after a mass demonstration marked a year since an uprising which brought down Hosni Mubarak, Arab News reports.

PAKISTAN: CLOSURE OF SUPPLY ROUTES COSTS US 6 TIMES MORE PER ROUTE

The U.S. is paying six times as much to send war supplies to troops in Afghanistan through alternate routes after Pakistan’s punitive decision in November to close border crossings to NATO convoys, the Associated Press has learned. ‘NEW NORMAL UNCLEAR’ FOR US AND PAK: With Pakistani disapproval of U.S. leadership soaring to an all-time high of 85% last year, hopes for achieving some normalcy between the nations appear somewhat grim. But Gallup data also show a sizable percentage of Pakistanis (43%) believe it is very important for Western and Muslim societies to get along — suggesting this hope is not completely dead, Gallup reports.

TURKEY: GCC-TURKEY MEET WILL BOLSTER TIES

Prince Saud Al-Faisal, foreign minister, will co-chair the ministerial meeting between the six-nation Gulf Cooperation Council (GCC) and Turkey in Istanbul on Saturday, Arab News reports.

QATAR: RESEARCHERS FIND POTENTIAL NEW OVARIAN CANCER TREATMENT

A medical college in Qatar said that its researchers have made a possible breakthrough in the way ovarian cancer is treated, Gulf News reports.

ENERGY: IN STATE OF THE UNION, A GOOD START

The very fact that energy played a prominent role in the president’s framing of key measures to help build an “America built to last” is important and correct. Affordable and reliable energy has always been a staple of American economic growth and will continue to be so for the foreseeable future. With all of the other issues plaguing government right now, energy could easily have been downgraded to a lesser priority, but it wasn’t, CSIS writes.

OPINION: HOW THE ARAB SPRING CAN SAVE SYRIA

The Arab League observer mission to Syria—sent under an agreement with the Syrian government to withdraw forces from the cities, release all political prisoners and allow monitors and journalists free movement throughout the country—has utterly failed and should not be extended, Kate Seelye (National Interest) writes.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.25.11 EDITION

Saudi Oil Can Replace Large Part of Iranian Exports, EIU Says: BLOOMBERG

1/25/12

Saudi Arabia has enough spare crude capacity to replace much of the heavy oil exported by Iran, which faces a European Union import ban, according to the Economist Intelligence Unit.

Saudi IT Market To Hit $5bn by 2015: TRADE ARABIA

1/25/12

Saudi Arabia’s lucrative IT sector – currently the biggest in the Gulf region – is expected to grow into a $4.9 billion market by 2015, said experts ahead of a major information and communications technologies (ICT) event in Riyadh.

Saudi Arabia, UAE Lead The World In Consumption Of Water: AL ARABIYA

1/23/12

Saudi Arabia and the United Arab Emirates consume more water per capita than the global average, according to new report which claimed that Gulf residents “disregard the consequences of their water usage.”

Gulf Monitors Leave Syria, League Seeks U.N. Support: REUTERS

1/25/12

Observers from Gulf Arab states left Syria on Wednesday after their governments said they were “certain the bloodshed and killing of innocents would continue,” and the Arab League pursued U.N. support for a plan to end President Bashar al-Assad’s rule.

Saudi Prince: Why Iran Won’t Shut Strait of Hormuz: CNN

1/25/12

In the halls of the GCF, executives expressed deep concerns about potential conflict with Iran and the impact such a move would have. As he does with some of his investments, Prince Alwaleed took a contrarian view. “I don’t believe war is inevitable,” he said. “I don’t believe the Strait of Hormuz will ever be closed because Iran knows this is suicide.”

Saudi Artists Test Limits Of Expression In Rare Show: REUTERS

1/25/12

In addressing last year’s political turmoil through his work, the Saudi artist is testing the boundaries of self expression in a kingdom where direct criticism of the authorities is not tolerated, cinema and theatre are banned and art and media are censored.

Saudi Police Chief Raises Hope Of Social Freedoms: AFP

Mohammed Hawari | 1/24/12

The appointment of a moderate to head the feared Saudi religious police has raised hopes that a more lenient force will ease draconian social constraints in the kingdom, but human rights activists remain skeptical.

Saudi King Calls Hariri to Check on His Health: DAILY STAR

1/24/12

Former Prime Minister Saad Hariri received Tuesday a call from Saudi Arabia’s King Abdullah bin Abdul Aziz to check on his health after the surgery he underwent at the American hospital in Paris, according to a statement released by Hariri’s press office.

Porsche Saudi Arabia, Mobil 1 Renew Links: ARAB NEWS

1/24/12

Following a successful relationship for many years, the renewal contract for the strategic partnership between Samaco, the dealer of Porsche cars in Saudi Arabia, and the Arabian Petroleum Supply Company Ltd., (Apsco), dealer and producer of Mobil 1 lubricants, was signed at a special event.

In New York Dailies, Three Very Different Rape Trials: ATLANTIC WIRE

Adam Martin | 1/24/12

Three New York daily newspapers carrying three different accounts of the rape trial of a Saudi prince’s friend on Monday posted stories so varied you’d be forgiven if you didn’t realize they were all about the same thing. The New York Post, the New York Daily News, and The New York Times all covered the testimony of a woman who says 60-year-old Mustapha Ouanes, a member of the traveling entourage of an unnamed Saudi prince, raped her in the Plaza Hotel in January 2010. The student says Ouanes had sex with her while she was unconscious in his hotel room, having passed out after a night of drinking. Ouanes says the sex was consensual, and that he’s the victim of a shakedown because of his ties to Saudi royalty.

*MORE NEWS AND COMMENTARY FROM THE REGION AND BEYOND*

IRAQ: NEWT, MITT AND REPUBLICANS FORGET IRAQ MISTAKE IN PUSH FOR WAR WITH IRAN

Gingrich, Romney and Santorum pushed for the Iraq War. Now the media should make them explain what they’ve learned from being wrong and why we should trust their eagerness to bomb Iran, writes Peter Beinart (Daily Beast) in an analysis.

IRAN: CAN EUROPE’S BOYCOTT SINK IRAN?

Although a European boycott of Iranian oil will increase the cost of doing business for Iran, will hurt the Iranian public, and is already harming the value of the Iranian currency, it is highly unlikely to cut Iran off from exporting to the world market or to put so much pressure on the government that it will change its policies, Juan Cole (CNN) writes.

UNITED STATES: OBAMA DELIVERS STATE OF THE UNION

By using his State of the Union speech to draw sharp contrasts with Republicans on such high-profile issues as taxes and the housing market, President Obama opened an election-year debate on the role of government that could be more intense than any in decades, writes the LAT in a news analysis.

EGYPT: IN POLL, EGYPTIANS EXPECT TRANSFER OF POWER

As Egyptians mark the first anniversary of the revolution that toppled their last president, 82% believe that the military will relinquish power to a civilian government after they elect their next president, a Gallup poll finds. TAHRIR SQUARE PACKED: Thousands of Egyptians flooded into Tahrir Square, the center of Egypt’s revolt, on Wednesday to mark the first anniversary of a revolution that began on this date in 2011, Leila Fadel (WaPo) reports.

AFGHANISTAN: THE AFGHAN WAR, CAUSE AND EFFECT

More than half of Americans want the U.S. to pull its remaining 90,000 troops out of Afghanistan “as soon as possible,” according to a Pew survey released Monday. That continues a sharp reversal that has existed since last summer. It’s interesting to compare the two lines in the Pew chart with the U.S. casualty toll detailed in a new Congressional Research Service report, also released Monday, by Steven Aftergood of the Federation of American Scientists’ Secrecy Project (you pay for them, but Congress won’t let you see them, so Aftergood gets them somehow and posts them for taxpayers). MENTAL TRAUMA TAKES HUGE TOLL: The intensity of the shock experienced by people as their lives change in an instant was captured in a powerful image by AFP Kabul photographer Massoud Hossaini, who was at the shrine when the explosion happened. His photograph showing a girl dressed in green screaming in horror, surrounded by dead and wounded relatives, featured on newspaper front-pages around the world and has become one of the emblematic images of the Afghan war, AFP reports.

YEMEN: CLASHES KILL 6

Fresh clashes in southern Yemen have killed six al-Qaida militants and injured 10 soldiers, military officials said Wednesday, AP reports.

SUDAN: SPECIAL FORCES FREE 2 HOSTAGES FROM SOMALI PIRATES

American commandos raced into Somalia early Wednesday and rescued two aid workers, an American woman and a Danish man, after a shootout with Somali pirates who had been holding them captive for months, NYT reports.

PALESTINE: POLICE HELP FREE WOMAN HELD FOR 9 YEARS IN ROOM BY FATHER

A Palestinian woman was imprisoned for nine years in a bathroom by her father, beaten, barely fed and only let out at night, a social worker and police said Monday, Gulf News reports.

She was given only a blanket, a radio, and a razor blade by her father, who encouraged her to kill herself, said the social worker, Hala Shreim.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.24.12 EDITION

Investments are Engine of KSA’s Development: King Abdullah: SAUDI GAZETTE

1/24/12

Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz Al-Saud has stressed the need to increase investment opportunities in the Kingdom. Inaugurating the sixth Global Competitiveness Forum (GCF) in Riyadh on Saturday night, King Abdullah described investments as Saudi Arabia’s engine of development. The King’s inaugural address was delivered by Dr. Tawfiq Al-Rabiah, Saudi Minister of Commerce and Industry, at the Four Seasons Hotel at the Kingdom Tower.

Boeing Delivers Two 777-300ERs to Saudi Arabian Airlines: PRESS RELEASE

1/24/12

Boeing reached a major milestone with Saudi Arabian Airlines when it delivered the airline’s first two 777-300ERs (extended range), marking another step forward in Boeing’s historic and enduring relationship with the Kingdom of Saudi Arabia.

Saudi Sees $66bn Worth of Projects Signed In 2011: ARABIAN BUSINESS

1/23/12

The total value of contracts awarded in Saudi Arabia reached $66bn in 2011, a six percent increase on the previous year, according to new research.

No Cash to West until KSA Given More Clout: ARAB NEWS

1/23/12

Big emerging economies such as Saudi Arabia, India and China will not aid the West in its financial crisis unless they are given more influence in running the global economy, Prince Turki Al-Faisal, Saudi ex-envoy to US and UK, said on Monday. “The financial crisis and great recession were born in the West, developed in the West yet hit hard throughout the world,” he said while addressing the Global Competitiveness Forum (GCF).

Why Won’t Saudi Arabia Write Down Its Laws?: FOREIGN POLICY

Nathan J. Brown | 1/23/12

In 2007 and 2009 Saudi King Abdullah capped a decade of legal and judicial reforms in his country by reorganizing the judiciary and ordering that Saudi Arabia follow the step that virtually all other states in the region did long ago by codifying its laws — committing to paper a comprehensive compendium of the operative laws in the kingdom. Since that date, however, his order has been neither challenged nor implemented. Why is codification of law seen as such a dramatic step in Saudi Arabia? And why does the king seem incapable of making it happen?

Will 2012 Be A Year of Opening for Saudi Arabia?: ARABIANOMICS

Lucien Zeigler | 1/23/12

The investment, aviation, and tourism sectors are all set for major changes to the status quo in 2012 after years of anticipation by foreigners to break into these lucrative markets in Saudi Arabia. Perhaps the most significant and highly anticipated of these openings is in the opening of Saudi Arabia’s stock market.

Saudi Interior Ministry: Authorities Detain 9 Accused Of Instigating Riots In Shiite City: WASHINGTON POST

1/24/12

A Saudi official says police have detained nine men accused of instigating riots in the eastern city of Qatif, home to the country’s Shiite minority.

Saudi Cabinet Approves Expansion Of Oil, Gas Relations With China: SPA: PLATTS

1/24/12

The Saudi cabinet has mandated Oil Minister Ali Naimi to enter into negotiations with China in line with a protocol signed between the two sides to expand cooperation in the oil, gas and minerals sectors, official news agency SPA reported Monday.

Saudi to Introduce Bank Wage System for Expats: EMIRATES 24|7

1/24/12

Saudi Arabia will join the UAE in forcing its private sector employers to transfer salaries of their workers to banks to protect their rights and ensure they get their wages on time, newspapers said on Tuesday.

Hundreds Of Child Smugglers Nabbed: ARAB NEWS

1/24/12

A total of 448 people involved in smuggling children from Yemen to the Kingdom along the southern borders were caught last year, Al-Eqtisadiah reported Monday. The local daily was quoting the commander of the Saudi Border Guards Gen. Zameem Al-Sawwat.

50 Job Centers To Be Set Up For Women Soon: Labor Minister: ARAB NEWS

1/23/12

Labor Minister Adel Fakeih said on Monday his ministry plans to set up 50 job centers for Saudi women throughout the Kingdom to enable them to find employment opportunities in various sectors.

Cabinet Okays Pension For All GCC Citizens: SAUDI GAZETTE

1/24/12

The Council of Ministers has approved the Unified System for the Extension of Insurance Protection for all Gulf Cooperation Council (GCC) citizens working in this country. The system provides pension coverage for GCC citizens in all member states.

IRAN: HOW TOUGH ARE THE SANCTIONS?

The sanctions, agreed upon yesterday in Brussels but not to be implemented until July, comes with possible unintended consequences ranging from oil market disarray at a time of economic crisis to further brinkmanship by the Islamic Republic. Yet some experts feel that the EU’s advertised toughness is less than meets the eye, and that the EU may have quietly kicked the can down the road, or at least left open the door for changes that could decrease pressure on Tehran, CSM writes.  NEGOTIATIONS CAN RESOLVE STANDOFF, IRAN SAYS: Iran’s Foreign Ministry spokesman said only negotiations and not sanctions can resolve the standoff over the Islamic Republic’s nuclear program, Bloomberg reports. BACKGROUND: EU TRADE WITH IRAN:  Iran provides a notable, but not decisive, quantity of oil to the European Union. Of the 896 million barrels of crude imported to the 27 EU member states in the first quarter of 2011, just 4.4 per cent came from Iran, Monsters and Critics writes.

SYRIA: GULF ARAB STATES QUIT MISSION

Saudi Arabia’s Gulf allies joined Riyadh on Tuesday in pulling out of an Arab League monitoring team to Syria, risking the collapse of a mission whose presence has not halted more than 10 months of violence, Reuters reports. BASHAR’S RUSSIAN PALS: Bashar Assad is feeling lonely, though not yet lonely enough. First the Turks, Americans and Europeans de-friended him. Now formerly fraternal leaders at the Arab League want him deposed. The Syrian strongman’s forces have killed more than 5,400 people in 10 months and turned a peaceful protest movement into a virtual civil war. But he still has a few friends in low places, opines the Wall Street Journal.

UNITED STATES: OBAMA TO DELIVER STATE OF THE UNION SPEECH TONIGHT

President Barack Obama will pitch new initiatives on jobs, taxes and housing in an election-year State of the Union address on Tuesday, making a sweeping case for a second term, Reuters reports.

EGYPT: FIRST PARLIAMENT IN POST-MUBARAK ERA HELD

Egypt’s military rulers said they handed legislative powers to the country’s lower house of parliament on Monday — the first day the parliament convened since former President Hosni Mubarak’s ouster last year, CNN reports.

TURKEY: GENOCIDE LAW SUBJECT OF ROW WITH FRANCE

Turkish Prime Minister Tayyip Erdogan attacked the French parliament on Tuesday for passing a “discriminatory and racist” bill which makes it illegal to deny that the mass killing of Armenians by Ottoman Turks nearly a century ago was genocide, Reuters reports.

LIBYA: GADDAFI LOYALISTS SEIZE TOWN

Moammar Gadhafi loyalists have seized control of a Libyan town and raised the ousted regime’s green flag, an official and commander said Tuesday, AP reports.

IRAQ: CAR BOMBS KILL 14

A wave of car bombings today hit the Iraq capital, killing 14 people and wounding more than 70 as violence surges in the country amid an escalating political crisis a month after the US military withdrawal, AP reports.

YEMEN: 750,000 CHILDREN MALNOURISHED

A year of Yemen’s turmoil has exacerbated the number of malnourished children under the age of five to around 750,000, UNICEF said Tuesday, appealing to the government and the international community to help develop the country’s infrastructure to tackle the problem, AP reports.

AFGHANISTAN: 16 INSURGENTS KILLED

Sixteen insurgents have been killed in a series of operations conducted by Afghan and NATO-led coalition forces over the past 24 hours, the Afghan Interior Ministry said on Sunday, Xinhua reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.23.12 EDITION

Change and Reform: A Conversation with Khaled Al-Seif: SUSRIS

1/22/12

Last month on the sidelines of the very successful US-Saudi Business Opportunity Forum in Atlanta Engineer Khaled Al-Seif talked with SUSRIS about the current state of the trade, investment and partnership openings for Americans working with Saudis. The exclusive interview also covered his insightful perspective on the scope and pace of changes being experienced in the Kingdom, especially social reform in the area of women’s empowerment.

Interfaith Dialogue Presents Opportunities: ARAB NEWS

Samar Fatany | 1/22/12

Let us establish business partnerships and support joint projects between faith-based organizations. Exploring what the Abrahamic faiths have in common was the theme of an interfaith dialogue held in Atlanta’s All Saints Episcopal Church on the sidelines of the recent US-Saudi Business Opportunities Forum. The Saudi Committee of International Trade (CIT) and the Saudi-US Trade Group organized the event. The discussion was moderated by Nick Stuart, president of Odyssey Networks, America’s largest interfaith media organization. The American panelists were prominent religious leaders in Atlanta; the southeast regional director of Anti-Defamation League, president of the Concerned Black Clergy, president of the Alliance for Christian Media, and dean of the Chapel and Religious Life at Emory University. Saudi participants included senior members of the CIT.

110,000 Saudis Applied For US Visas in 2011: ASHARQ ALAWSAT

1/22/12

The US embassy in Riyadh revealed that 110,000 Saudi nationals applied for a visa to visit the US in 2011, an increase of 25,000 from the previous year. The embassy also revealed that 93 percent of these visa applications were approved, and 75 percent of visa application approvals were issued within one week.

Saudi Arabia Withdraws Monitors from Syria: ATLANTIC SENTINEL

Nick Ottens | 1/22/12

Saudi Arabia on Sunday said it would withdraw its members from an Arab League monitoring mission in Syria as the regime there continued to deploy violence against protesters. In Cairo, Prince Saud bin Faisal, the kingdom’s foreign minister, also called on the international community “to bear its responsibility” and increase pressure on Damascus.

Saudi Arabia Foreign Shares Listing Rules May Boost Gulf Markets: BLOOMBERG

1/23/12

Saudi Arabia’s decision to allow foreign companies to list securities in the Arab world’s biggest bourse may help the region’s equity markets lure investors and boost trading volumes.

China’s Dec Saudi Crude Imports 4th Highest On Record: REUTERS

1/21/12

China’s crude oil imports from Saudi Arabia rose to 1.12 million barrels per day in December, the fourth-highest on record on a daily basis, Chinese customs data showed, as the world’s top oil exporter pumped just under the 10 million bpd mark.

OPEC Consensus on $100/Barrel Oil Broadened By Saudi Comments: BUSINESS WORLD ONLINE

1/23/12

Saudi Arabia’s endorsement of an oil price of $100 a barrel increases OPEC unity over a triple-digit price aspiration, making agreement on policy easier and adding support for the market. $100 CRUDE THE NEW NORMAL: Saudi Arabia sent a crystal clear message last week to the oil market: $100 a barrel is the new normal.

For some, it is a green light to bid up forward-dated crude oil futures, FT writes.

Terror Crimes Declining In The Kingdom: Al-Isa: ARAB NEWS

1/20/12

Saudi Justice Minister Muhammad Al-Isa said terror crimes are on the wane in the Kingdom and he said the decline is largely due to the rehab programs, increased security and a fair judiciary system.

Saudi Cleric Says Nothing Wrong With Genders Mixing, Listening To Music: AL ARABIYA

1/23/12

Saudi cleric and former president of the commission for the promotion of virtue and prevention of vice branch in Makkah, Sheikh Ahmed bin Qassim al-Ghamdi, has challenged those who oppose his opinions on permitting the mixing of genders, listening to music and for saying that Islam doesn’t restrict Muslims to pray in group.

Saudi Typhoon Storms Ahead: ARABIAN AEROSPACE

1/23/12

Saudi Arabia has faced challenges introducing the Eurofighter Typhoon into service, not least in establishing local production – which has yet to start.

AC Milan Park Opens In Najran: ARAB NEWS

1/20/12

Najran Province Gov. Prince Mishaal bin Abdullah welcomed Italian Consul General Simone Petroni on the occasion of his four-day visit to Najran (Jan. 17-20) for the inauguration of the first AC Milan Park in the Middle East.

Saudi Arabia/Islam: Child Beggars Make Big Bucks By Begging: IINA

1/21/12

Children, who have been smuggled into the Kingdom from neighboring countries, are making a lot of money through begging and do not want to leave Saudi Arabia, local daily Al-Eqtisadiah said Friday in an investigative report about the phenomenon.

IRAN: EUROPE AGREES TO EMBARGO

European Union nations have agreed to place an oil embargo against Iranian oil exports, VOA reports.

SYRIA: ARABS IN AGREEMENT ON PLAN AS BODY URGES UN SUPPORT
Arab foreign ministers agreed on Sunday a new political roadmap for Syria that sees President Bashar Assad delegating power to a deputy and setting up a unity government as a prelude to early parliamentary and presidential elections, Arab News reports.

CONFRONTING IRAN IN A YEAR OF ELECTIONS: Think of the multipolar chess President Obama is now playing. Every country involved in the dispute over Iran’s possibly acquiring nuclear weapons is calculating how the American presidential election plays to its agenda. The politics of soaring oil prices loom over any threat of military conflict, even a brief skirmish in the Strait of Hormuz. And with global economic turmoil a reality and leadership changes possible or certain this year in the United States, Russia, China and France, the game gets even more complex, David E. Sanger (NYT) writes. IRAN WARNS ARAB NEIGHBORS: Iran’s foreign minister has warned Arab neighbours not to put themselves in a “dangerous position” by aligning themselves too closely with the US in the escalating dispute over Tehran’s nuclear activity, the Guardian reports.

OPINION: WHO WANTS WAR WITH IRAN?

What we do know is that “Bibi” Netanyahu is desperate to have the United States launch air and missile strikes to stop Teheran from becoming the world’s ninth nuclear power. And he is echoed not only by U.S. neocons, but GOP candidates save Ron Paul. Nor should we be surprised, writes Pat Buchanan, a leading conservative voice in the U.S. … Before some agent provocateur pushes us into war with Iran, Congress should debate the wisdom of authorizing President Obama, or anyone else, to take America into her fifth war in a generation in the Middle and Near East, writes Pat Buchanon (Townhall.com).

UNITED STATES: UPROAR AS JEWISH NEWSPAPER EDITOR CALLS FOR OBAMA ASSASSINATION

The owner and publisher of the Atlanta Jewish Times, Andrew Adler, has suggested that Israeli Prime Minister Binyamin Netanyahu consider ordering a Mossad hit team to assassinate U.S. President Barack Obama so that his successor will defend Israel against Iran, Haaretz writes.

YEMEN: SALEH GRANTED IMMUNITY
Yemen’s parliament approved a controversial law Saturday that ensures President Ali Abdullah Saleh complete immunity from prosecution, CNN reports.

EGYPT: SALAFISTS TAKE A QUARTER OF EGYPT’S LOWER HOUSE

Followers of a puritanical form of Islam will fill about a quarter of the seats in the lower house of the new Egyptian parliament on Monday, underscoring the political power being wielded by Islamists in the wake of the Arab spring, Leila Fadel (Washington Post) reports.

PALESTINE: HAMAS CALLS FOR END TO PEACE FEELERS AFTER ARRESTS

The Palestinian Islamist movement Hamas urged President Mahmoud Abbas on Friday to suspend exploratory peace talks with Israel following Israel’s arrest of two Hamas legislators, and to stop his cooperation on West Bank security with the Israelis, Reuters/Arab News reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

Editor’s Note:

In 2005 when SUSRIS first talked with distinguished businessman and then-Chairman of the Committee for International Trade, Khaled Al-Seif he was leading the largest ever Saudi trade mission to cities across the United States. He talked about the beginning of a period of significant economic expansion in Saudi Arabia, “What has been happening there is quite exciting. Saudi Arabia is seeing another boom in the making, an economic boom which, in my opinion, will be wider and deeper than the boom in the 70′s.” At that point there were $600 billion worth of investment projects on the table in the Kingdom. Three years later in an exclusive interview at the Arab-Economic Forum in Washington Al-Seif told SUSRIS that number had topped $1 trillion:

“I’m happy to report to you that what I was forecasting several years ago is taking place now. We are living in the midst of this major boom. It is not only the result of oil prices and increased oil production but as I said before it is the result of the economic reforms already underway. With regard to oil revenues, as you know, Saudi Arabia is producing nearly its maximum capability to keep the price of oil as stable as possible. Oil production has doubled in just seven or eight years ago. So that is clearly having an effect on Saudi Arabia’s economic situation. However, the economic reforms that we discussed last time have really started to take hold and we’re seeing the results of some of those reforms.”

Last month on the sidelines of the very successful US-Saudi Business Opportunity Forum in Atlanta Engineer Khaled Al-Seif talked with SUSRIS about the current state of the trade, investment and partnership openings for Americans working with Saudis. The exclusive interview also covered his insightful perspective on the scope and pace of changes being experienced in the Kingdom, especially social reform in the area of women’s empowerment. In this two-part interview SUSRIS is pleased to share Al-Seif’s views on these developments and more.

Engineer Khaled Al-Seif is President and CEO of El Seif Group of Companies, a top 25 business in Saudi Arabia, and a firm responsible for many of the most spectacular construction projects in the Middle East including the landmark Kingdom Tower in Riyadh. In addition to his broad business portfolio Al-Seif works through numerous organizations to develop business connections with the United States and other countries and building international bridges of understanding and friendship between Saudi Arabia and the world.

***

Change and Reform: A Conversation with Khaled Al-Seif

[SUSRIS] Thank you for joining us today at the 2nd US-Saudi Business Opportunities Forum. Before we get into the world of business and what’s happening at this important conference, let’s talk about this year of change and challenge for the Kingdom. Tell us what you see as key developments in Saudi Arabia and in the region.

Eng. Khaled Al-Seif

[Eng. Khaled Al-Seif] Thank you for a chance to talk about what has been happening in Saudi Arabia. The year 2011 will be remembered for something that has been very exciting in the Kingdom, and that is progress in the empowerment of women. King Abdullah has been behind major reforms in this area for some time and this year he further opened up the opportunity for women to participate more in public life.

A very important step for many Saudis is bringing women into the decision-making processes. In September King Abdullah announced women will participate in the next round of Municipal Council elections and will be appointed to the Majlis Ash-Shura, the Consultative Council, which is our parliament. These are major developments and they are starting from the top. As you know he had already appointed a women as Deputy Minister of Education for women’s education, with ministerial authority, and women have risen to other leadership positions such as on boards of chambers of commerce.

[SUSRIS] How are these developments being received in Saudi society?

[Al-Seif] What is happening is that changes are propagating very quickly within society as a whole but in particular in the business arena where the employment opportunities are opening. These changes are encouraging to many Saudis, especially to women who see their future opportunities expanding – in both the public and private sectors.

So, I would say people are very excited about advances in women’s empowerment issues. There have been problems with the lack of open job opportunities for women which results in an employment imbalance. Fortunately there are many well-qualified women ready for new opportunities. Women graduates are coming into the marketplace from universities, coming from inside the Kingdom and coming home from study abroad. There is a fantastic program for our youth to study overseas, the King Abdullah Scholarship Program. Tens of thousands of Saudis are enrolled in universities in North America, Europe and Asia. There are 50,000 Saudis studying in American universities alone and one-third of them are young women.

[SUSRIS] The recent news about that level of Saudi women participating in the Scholarship Program was somewhat surprising and developments on women’s issues like that don’t seem to be very well appreciated.

[Al-Seif] Well, a lot of the media attention on women in Saudi Arabia highlights what lies on the road ahead and not very much on what has been achieved. But Saudis are more concerned and pleased with the positive changes – to see these changes opening doors – and less concerned with external publicity.

Princess Nora University model inspected by King Abdullah after laying the foundation stone, Oct 29, 2008. (SPA)

Princess Nora University, a women’s institution, should be mentioned here. It was designed and built in two years, the shortest execution period for any university of comparable size in the world. It is a tremendous campus that is starting with an initial capacity of 40,000 and will expand to accommodate 70,000 young Saudi college students. It’s a huge university done to the highest standards possible, in all areas. The University includes a broad spectrum of specialties: education, business administration, medical education, arts and sciences, and so forth. Developments such as these – advances in a country where these things didn’t exist a generation ago – these are the changes that are very exciting.

All of these advancements are major steps in Saudi society because they also affect the prosperity of the country. Business people are very aware of these changes, have been tracking them. It is encouraging that Saudi women are studying very advanced sciences and very advanced technical subjects in addition to a host of other specialties that will be extremely helpful to boost the economy. More opportunities open for women translates into more purchasing power for the household and more effect on the economy as a whole. The economic circle is widened as a result of women’s empowerment.

So business people and others are looking at these developments with a lot of optimism and a large number of Saudi Arabian companies have started new programs for bringing women into their workplaces. This is very important.

[SUSRIS] Political developments, like women voting in Municipal Council elections and serving in the Shura Council along with increased emphasis on women’s education and business opportunities – how do these all fit together in plans for reform?

[Al-Seif] They are clearly interwoven. Actually what you see now are the fruits of decisions started six, seven years ago, perhaps more than that, even ten years ago. But don’t forget that the issue here is not the decisions of the King. The issue here is the society. Saudi Arabia is a very conservative society. There has been a lot of opposition over these subjects and you know it takes time until the society reaches a stage where such reforms can be undertaken.

What King Abdullah has done, which was extremely wise, was that he encouraged local debate. He started with what was called the National Dialogue, and he let the various factions within the society talk, to shine light on these subjects – women’s empowerment and other important areas. When they talk – and it may have started out with negative reactions – but the more people talked about these subjects, the more information they got, the less fears they had of change. They were more comfortable with it.

And as they were more comfortable with it, there was enough support within the society itself to accept these advances. Some people say this is all too slow but I assure you that there are still a lot of people in Saudi Arabia who say this is all too fast. So I think Saudi Arabian leadership and the society are working in a very balanced way and the result is that these reforms will last. They’re not reforms that will not be changed, because they’ve been very well studied and very well prepared for. And you would expect that further things would also change depending on how much the society is ready to accept.

You also have to take into consideration the current situation in the region. We’ve been talking about it today in various panels at the Forum and everyone is trying to understand exactly what is happening with the Arab Spring. Despite everything that is happening in the Arab world the Kingdom has been remarkably stable. It continues to be a good business environment and as many people expected it would, it has shown stability in the transition at the top.

Questions remain. How is all of this impacting women’s empowerment and other ongoing reforms? Is there any impetus derived from the Arab Spring that Saudi Arabia should accelerate these changes? Has any of that contributed to the major announcements of 2011? I would say no. You see, the subject of the reforms, take the case of women’s issues, as I mentioned earlier is something that has been in the making for many years. It has been done in gradual steps. It had to have the National Dialogue as a catalyst.

[SUSRIS] You’re saying the reforms, the women’s issues advancing, were coincidental to the changes of the Arab Spring?

[Al-Seif] They were in the works much earlier than the Arab Spring. The Arab Spring has captured the attention and imagination of some, but the advancements being made in Saudi Arabia were set in motion much earlier. However, I should reiterate that Saudi Arabia has been very stable during this tumultuous year in the Arab World. I would like to think that much of that is attributable to the actions that King Abdullah and the leadership in the Kingdom put in place many years earlier in creating openings for change.

There is also something that many people don’t realize about Saudi Arabia. A very important aspect of life in the Kingdom is dignity. Since the time of King Abdulaziz, when he unified the whole Kingdom, down through the reign of his sons later on, the individual dignity of citizens is not put down. I think this is another factor in the Arab Spring having little internal effect. Leaders have always paid special attention to this. You have complete freedom of work, you have complete freedom of doing business and making money. You have complete control over your house. Nobody would dare come and break into your house, for example, not governmental agencies, not anyone. Your house is your fortress. So the main principles of human dignity have always been guaranteed in Saudi Arabia.

If you look at what happened in Tunisia when it all started, and later on in other countries where there have been upheavals, there were a lot of issues related to the lack of human dignity. There are a lot of issues where people were saying enough is enough, but nothing like that has happened in Saudi Arabia. It is also very important in a discussion of these developments to note that King Abdullah is a very beloved leader. He is an extremely beloved King because he’s been very close to the people; he’s been very close to the peoples’ needs.

King Abdullah and the whole government have been very responsive to the needs of Saudi citizens. Look, for example, at the subject of education. You know, about ten years ago, fifteen years ago, when oil prices went down to $12 a barrel, the government couldn’t spend much money. So programs related to education such as new schools to deal with the explosion of population and universities and so on, these programs could not be funded at the levels needed. It was a stage in education development where schools were crowded, universities were crowded, so people were complaining. And these complaints fell on the ears of King Abdullah, then the Crown Prince. The first thing he did once we got some money to spend was to make sure that every single student was able to go to school, that every single Saudi could go to college if they wished. If they didn’t want to go to college there were vocational schools available. He instructed the Armed Forces and the National Guard to open up their training centers as well, so that the country would produce more qualified people who could come in and fill positions in the private sector.

Let me make one more point on the issue of human dignity. Take the issue of healthcare. As you have heard at the Forum there has been an incredible buildup in the Kingdom’s healthcare capacity to meet the people’s needs exemplified by the doubling of the number of hospitals between 1990 and 2010. However, there were some areas in the south of the country that were neglected. King Abdullah went down himself and he was very disappointed by what he found. He asked why was Jizan forgotten, for example. As you would expect it resulted in laser-like attention, a very big program for the development of the southern area of Saudi Arabia. So, everybody sees that, just as everybody sees all his actions for the well-being of the Saudi individual, Saudi human being, and they really love him. They really love him.

[SUSRIS] That story sounds much like the report that his push for programs to alleviate poverty was spurred by his visit in 2002 to a poor neighborhood in Riyadh.

[Al-Seif] Yes, that is true. The ruling family is very close to the daily needs of the people. And when reports reached him about the neighborhood, he wanted to see it for himself. When he saw it he immediately got the people involved in the various social services into a meeting to decide how to deal with this kind of situation. How to deal with the issue of poverty, how to deal with the issue of educating those people, ensuring they can go to schools, how to help make them productive? The aim was to help people get out of poverty, but also to provide some help and assistance in the short term. So social programs were more than tripled.

[SUSRIS] Last February when King Abdullah returned from his medical treatment abroad, about the time the Arab Spring was gaining momentum, a massive government spending plan was announced for housing, for health care, payrolls, a large human services budget increase. Was that a reaction to the Arab Spring?

[Al-Seif] I can tell you based on first hand knowledge that as far as the construction of the 500,000 new housing units — we were very pleased the King approved that spending — the timing was a coincidence. I was serving on the consultive body of the Supreme Economic Council two years earlier and we were working on the subject of housing. We were looking at the issue of home ownership. It’s been a chronic problem related to the mortgage regulations. As you know because of special Sharia considerations we have to be very careful about the issue of mortgages.

One of the recommendations about housing from the consultive body was for the government to jumpstart the whole operation by providing 500,000 units under certain regulations related to implementation. The proposition was reviewed further by the full Supreme Economic Council and then it had to be raised through the Council of Ministers. It was a long time in the making, but it was clearly coincidental that the announcement came at about the same time as the early days of the Arab Spring.

[SUSRIS] You referred to the transition in leadership, the passing of Crown Prince Sultan and the elevation of Prince Nayef as well other key moves in the government. Some observers wonder about the prospects for continuing in the current direction especially in areas like reforms. How would you assess that question?

[Al-Seif] This is not an issue. The reforms that have been going on are reforms that have been in the making for quite some time. As I mentioned earlier about advancements in areas like women’s empowerment, they have been brought about with a very wide base of support. This is how we like it. Crown Prince Nayef has been within the circle of our government for a long time, and he’s been in the midst of making those reforms. He is fully familiar with everything involved in the process and none of those reforms are going to be reversible. He’s part of the consensus, and these reforms are as solid as anything.

In terms of the succession, King Abdullah has institutionalized the process of succession. So it’s not a matter that there could be a vacuum that would be left. The process is very well institutionalized. The choice of Prince Nayef as Crown Prince was very clear, and he is an excellent Crown Prince. He’s been in government for some time, he has excellent experiences and tremendous capabilities, and Saudi Arabia I think is fortunate to have him as a Crown Prince.

The choice of Prince Salman as Minister of Defense was an excellent selection as well. Prince Salman is a very well liked and respected person in Saudi Arabia. People really appreciated these moves, because you now have a leadership arrangement which is a very complimentary structure.

***

Part 2 of this exclusive SUSRIS interview with Engineer Khaled Al-Seif will feature a discussion of the commercial expansion in Saudi Arabia and the business to business relationship between the United States and Saudi Arabia.  It will be provided separately in email, posted on SUSRIS.com and available through the SUSRIS iPhone App.

***

ABOUT KHALED AL SEIF

Eng. Khaled Al-Seif

Khaled Musaed Al Seif is a businessman and a leading member of the business community in Saudi Arabia who manages one of the largest business groups in the Kingdom. He is active in various committees and councils dealing with the promotion of international trade and bridging relations with the West.

Mr. Al Seif previously served as Chairman of the Saudi Committee for International Trade (CIT) at the Council of Saudi Chambers of Commerce and Industry. He has officiated as Co-Chairman of the Saudi-British Joint Business Council since 2007; Member of the Board of U.S.-Saudi Arabian Business Council since 2006, Member of the Advisory Board for Economic Affairs at the Saudi Supreme Economic Council since 2005, Board member of Royal Philanthropic Society for Science (Prince Sultan University) since 1999; Board Member of the Arab-British Chamber of Commerce, London, UK since February 1996; on the Board of Directors of Riyadh Chamber of Commerce and Industry, Riyadh, Saudi Arabia (1993-2001 and 2004-2008); and President and CEO of El Seif Group of Companies, Riyadh, Saudi Arabia since 1975.

As the President and CEO of El Seif Group of Companies, Mr. Al Seif is the Chairman of the following Saudi and International companies: El Seif Commercial Investment Company Ltd; Musaed Al Seif & Sons Company; International Management Development Company; Dana Investment and Development Company; El Seif Engineering Contracting Company, and Marina Towers S.A.L.; and El Seif Holding Company in Lebanon. He is Also a Board Member of some other domestic and international companies which include but not limited to: Saudi Medicare Company; National Power Company; Modern Arab Construction Company: Arabian Medicare Company; Universal Advanced Systems Company; and El Seif Development Company.

Mr. Al Seif holds a B.S. in Civil Engineering from the American University in Beirut.

See:

• Saudi Arabia: Women Can Vote, Starting in 2015  - PBS NewsHour – Sep 26, 2011
• King Abdullah Orders Social Benefits Package – SUSRIS – Feb 23, 2011
• Gulf States Seek Stability, Not Status Quo – Koch – SUSRIS – Dec 4, 2011
• Jobs for Women – Arab News Editorial – SUSRIS – Dec 9, 2010
• Institutionalizing Empowerment: A Women’s Ministry?
• Women’s Rights Gain Focus in Saudi Arabia – Alshayeb – SUSRIS – May 27, 2010
• Saudi King appoints first woman to council – CNN – Feb 14, 2009
• American Businesses and Saudi Opportunities: A Conversation with Khaled Al-Seif – SUSRIS – Sep 4, 2008
• A Man With A Mission: Khaled Al Seif Talks About US-Saudi Business Relations – SUSRIS Exclusive Interview – May 23, 2005
• “Women in Leadership Forum” Calls for Action – SUSRIS – Dec 9, 2010
• Jobs for Women – Arab News Editorial – SUSRIS – Dec 9, 2010
• Saudi Arabia: Participation of Women in National Development – American Bedu – Dec 10, 2010
• Woman empowerment stressed – Arab News – Dec 1, 2010
• Women’s leadership forum kicks off – Saudi Gazette
• Interfaith Dialogue Shared in Chicago – Fatany – SUSRIS – May 16, 2010
• New Media in the Gulf – SUSRIS – Dec 9, 2010
• Women’s Rights Gain Focus in Saudi Arabia – Alshayeb – SUSRIS – May 27, 2010
• Boosting Small and Medium Enterprises in Saudi Arabia – SUSRIS – Dec 4, 2010
• Has 9/11 Changed Saudi Arabia for the Better? – Robert Lacey – SUSRIS – Sep 12, 2010
• Saudi Women to Stand Against Breast Cancer – SUSRIS – Aug 23, 2010
• Saudi Domestic and Regional Policies – Gause – SUSRIS – Jun 22, 2010
• Higher Education Opportunities for Women – SUSRIS – Mar 12, 2010
• King Abdullah: An Outstretched Hand – Sobhani Book – SUSRIS – Mar 6, 2010
• Saudi College Women Build Social Entrepreneurship Skills – SUSRIS – Jul 22, 2009
• U.S.-Saudi Women’s Forum on Social Entrepreneurship Summer Symposium Opens – SUSRIS – Jul 14, 2010
• Saudi Arabia Shuffles Government Posts – SUSRIS – Feb 14, 2009
• Rights Commission Opens Women’s Branch – SUSRIS – Sep 5, 2008
• Women’s Political Participation in the Gulf – SUSRIS – Apr 14, 2008
• Abdullah Pardons ‘Qatif Girl’ – SUSRIS – Dec 18, 2007
• A Slap in the Face of Justice – SUSRIS – Nov 21, 2007
• For Cloaked Saudi Women, Color Is the New Black – SUSRIS – May 30, 2007
• Government Jobs for Saudi Women – SUSRIS – May 29, 2007
• Saudi Businesswomen Seek Greater Participation – Mar 21, 2007
• Challenges and Opportunities: Saudi Arabia in the 21st Century – SUSRIS – Jan 23, 2007
• On Relations and Reforms: A Conversation with Usamah al-Kurdi – SUSRIS – May 30, 2006
• Young and Restless – Afshin Molavi – SUSRIS – May 17, 2006
• The Time is Now in Saudi Arabia – Part 2 – SUSRIS – Apr 27, 2006
• The Time is Now in Saudi Arabia – Part 1 – SUSRIS – Apr 26, 2006
• Saudi Professional Women Advancing – SUSRIS – Dec 28, 2005
• Women Create History in JCCI Poll – SUSRIS – Dec 1, 2005
• U.S. critics miss the real Saudi Arabia – SUSRIS – Nov 30, 2005
• On Relations and Reforms: A Conversation with Usamah al Kurdi – SUSRIS – Sep 30, 2005
• Building Bridges: A Conversation with Princess Loulwa Al-Faisal – SUSRIS – Jun 2, 2005
• Saudi Women Moving Up in Business Remarks by Princess Lolowah Al-Faisal – SUSRIS – May 18, 2005
• Women of the Holy Kingdom By Sharmeen Obaid-Chinoy – SUSRIS – Apr 4, 2005
• Saudi Municipal Elections – Round Two – SUSRIS – Mar 3, 2005
• Reforms and Relations: Saudi Arabia’s Foreign Minister Discusses Developments in the Kingdom – SUSRIS – Feb 24, 2005
• Women’s Employment Initiative – SUSRIS – Jan 27, 2005
• Saudi Women and the Jeddah Economic Forum – SUSRIS – Feb 12, 2004
• “A Saudi Vision For Growth” Women Make Their Mark at Jeddah Economic Forum – Lubna Olayan’s Keynote Address -SUSRIS – Jan 21, 2004
• Al-Ikhbariya Makes Waves – SUSRIS – Jan 15, 2004
• On A Dagger’s Edge — Saudi Women, Long Silent, Gain a Quiet Voice [Part 4 in a Series] – SUSRIS – Jan 14, 2004
• Women’s Rights in Saudi Arabia – SUSRIS – Jun 19, 2003

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.20.12 EDITION

Iran Confronts Saudis on Oil Offer: WALL STREET JOURNAL

Benoît Faucon, Rakesh Sharma and Se Young Lee | 1/18/12

Iran warned Saudi Arabia against delivering additional oil to world markets to compensate for a drop in Iranian oil exports if they are hit by sanctions, as the U.S. continued to have mixed success in convincing Iran’s major oil customers to reduce their purchases of Iranian oil.

C.Bank Chief: Saudi To Keep Oil Price Stable: REUTERS

1/20/12

Saudi Arabia’s central bank chief said on Friday that his country would offer excess oil production capacity if needed to balance oil prices, and that he expected prices to stay stable.

Sino Saudi Gas To Boost Exploration: GULF NEWS

1/19/12

Sino Saudi Gas plans to drill again in Saudi Arabia’s Empty Quarter in September but gas prices are still too low for companies exploring there, the chief executive of Saudi Aramco said. The joint venture between China’s Sinopec and state-run Aramco has been prospecting for natural gas for years, but what little they have found has not been exploited largely because industrial gas prices are fixed far below international market prices. SAUDI PIVOTS TOWARD ASIA: Saudi Arabia’s future lies in Asia. That was the subtext of Chinese Premier Wen Jiabao’s recent visit to Riyadh. That future might arrive a lot quicker than people think, if BP is to be believed, Peter Lee (Asia Times) writes. WEN CONCLUDES TRIP:  Chinese Premier Wen Jiabao has concluded his six-day visit to the Middle East, which brought him to Saudi Arabia, the United Arab Emirates and Qatar. During his visit, the Chinese premier met with leaders from the three countries as well as from regional organizations. He also attended and addressed the fifth World Future Energy Summit in Abu Dhabi, Xinhua reports.

KSA Nonoil Exports Rise To SR13bn: ARAB NEWS

1/20/12

Saudi nonoil exports rose in Nov. 2011 to SR13 billion against SR11.49 billion in the same period the previous year, an increase of 13 percent, the Saudi Press Agency reported quoting an official statistical report on Thursday.

Saudi Arabia: King Tells New Vice Chief To Be Lenient With People: ARAB NEWS

1/20/12

The newly appointed general president of the Commission for Promotion of Virtue and Prevention of Vice (Haia) Sheikh Abdullatif Al-Asheikh said Thursday that Custodian of the Two Holy Mosques King Abdullah had ordered him and his fellow colleagues to be lenient when dealing with people and to show good will and respect to them.

Power Hungry: SAUDI GAZETTE

Amal Al-Sibai

The excess consumption of electricity by residents and citizens of the Kingdom is a cause for concern.

In Saudi Arabia, 7 Of Their 10 Most Beloved Brands Are Non-Islamic: BUSINESS INSIDER

Jim Edwards | 1/19/12

Only three of the 10 best-liked brands in the country are Arab or Islamic brands. The rest are Western or Asian — a reflection of the nation’s imported consumer goods culture (and its own failure to create a domestic manufacturing base).

No Ladies Room In Saudi Ministry: UPI

1/19/12

A U.S. Congressional group on a fact-finding trip to Saudi Arabia discovered one hard fact — the ministry of defense has no women’s bathrooms.

The group included four women. Rep. Peter Welch, D-Vt., told Bikyamasr.com that he and other men in the delegation offered to guard the men’s bathroom while women used the facilities, but Saudi officials would not allow that.

British Airways Launches Challenging SME Initiative In Kingdom: ARAB NEWS

Roger Harrison | 1/19/12

British Airways has launched a challenging new business initiative in the Saudi small and medium enterprise (SME) arena.

30-Day Jeddah Shopping Festival Launched: SAUDI GAZETTE

1/20/12

Hayya Jeddah Shopping Festival being launched at the Red Sea Mall in Jeddah Wednesday. (Right) A Saudi man performs during the inauguration ceremony.

Why The Saudis Want $100-A-Barrel Oil: WASHINGTON POST

Brad Plumer | 1/17/12

In 2008, Saudi Arabia’s King Abdullah called $75-a-barrel oil a “fair price.” But the price of fairness seems to be rising fast: According to the Financial Times, the Saudis now prefer to keep oil prices at about $100 per barrel. What’s changed?

In a word, spending.

IRAN: TURKEY WORKS TO CUT DEPENDENCE ON IRANIAN OIL

Turkish refiner Tupras plans to cut its dependence on imports of Iranian oil and will meet Saudi Arabian authorities this month, industry sources familiar with the company’s strategy said on Thursday, as Western powers crack down on Iran’s oil sales, Reuters reports. UNITED STATES ‘FULLY PREPARED’ TO KEEP HORMUZ OPEN: The U.S. military is now “fully prepared” to deal with any Iranian effort to close the Strait of Hormuz, a vital Persian Gulf avenue for international oil shipments, Defense Secretary Leon Panetta said Wednesday.

At a Pentagon news conference, Panetta was asked whether, in light of Iran’s threat to close the strait in retaliation for stronger international economic sanctions, Washington is adjusting U.S. forces in the region, AP/Washington Post reports.

UAE: ONE OF EMIRATES’ OLDEST HOTELS TO CLOSE

One of the emirate’s oldest hotels, the Metropolitan, is to be demolished to make way for a glitzy hospitality complex and a Las Vegas-style theatre valued at Dh4.87 billion, Gulf News reports.

ISRAEL: FORCES ARREST TWO PALESTINIAN POLITICIANS

Hamas condemned Friday the arrests of two Palestinian lawmakers and called for a halt to recent peace talks, CNN reports. PALESTINIANS CONDEMN ARREST: The Palestinian Authority has condemned Israel’s arrest of Hamas politician Aziz Dweik, speaker of the Palestinian Legislative Council. Hamas said the arrest was intended to undermine its recent attempts at reconciliation with the Fatah movement, BBC reports. DEMPSEY IN ISRAEL FOR TALKS: US military chief General Martin Dempsey on Friday urged Israel to keep the channels of communication open amid concerns the Jewish state could launch a military strike on Iran’s nuclear facilities, AFP reports.

GUANTANAMO: AL QAEDA MAGAZINE DELIVERED TO INMATES

A copy of an al Qaeda-linked magazine was delivered to the Guantanamo detention camp for suspected terrorists, a military prosecutor revealed on Wednesday during a courtroom discussion of mail security, Jane Sutton (Reuters) reports.

SYRIA: THOUSANDS PROTEST AS OBSERVERS SAY MISSION TO BE EXTENDED

Buoyed by the opposition’s control of a town near the Syrian capital, thousands of people held anti-government protests Friday, chanting for the downfall of the regime. At least eight people were killed by security forces across the country, activists said.

In Egypt, two Arab League officials said the organization is likely to extend its observer mission in Syria, despite complaints from the Syrian opposition that it has failed to curb the bloodshed in the country, the AP reports.

PAKISTAN: GILANI CONTEMPT CASE RIVETS NATION

Prime Minister Yousuf Raza Gilani appeared Thursday before a Supreme Court panel to defend himself in contempt-of-court proceedings, staving off an immediate ruling in a high-stakes case that could lead to his ouster and jeopardize his party’s hold on government, the LAT reports.
The high court initiated contempt proceedings against Gilani this week, contending that he had deliberately ignored its frequent demands to pursue long-standing corruption allegations against his boss, President Asif Ali Zardari.

AFGHANISTAN: FRANCE HALTS TRAINING, THREATENS TO WITHDRAW

France suspended its training operations in Afghanistan and threatened to withdraw its entire force from the country early, after an Afghan wearing an army uniform shot and killed four French troops Friday and wounded others, CBS News reports.

EGYPT: FRUSTRATION AS TOURISTS STAY AWAY

The upshot, revealed Abdel Nour on Saturday, has been a £2.5bn decrease fall in tourism revenue alongside 32% fewer visitors, with the capital – which has played host to most of the street fighting in recent months – taking the brunt. “We are living through an unprecedented crisis in the history of this sector,” said the minister, a long-time liberal political grandee. “We have faced tourism crises before following one-off events [such as the 1997 Luxor massacre in which terrorists shot dead 62 holidaymakers at an ancient Egyptian temple], but this is different because [the revolution] is a continuous state of affairs,” the Guardian reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.19.12 EDITION

Saudi Arabia’s November Oil Output, Exports Rise to 30-Year High: BLOOMBERG

Wael Mahdi | 1/18/12

Saudi Arabia, OPEC’s largest crude producer, increased output and exports in November to the highest levels in more than 30 years, according to the Joint Organization Data Initiative.

The country pumped 10.047 million barrels a day of crude, up from 9.36 million in October, statistics posted today on JODI’s website show. The kingdom’s exports increased by 721,000 barrels a day, more than 10 percent, to 7.8 million barrels a day, according to the figures, which include condensates and exclude natural-gas liquids.

IS SAUDI REALLY ‘TARGETING’ $100 CRUDE?: Some analysts are questioning media reports that Saudi Arabia is really ‘targeting’ a $100 price for oil, noting that Saudi’s current breakeven price for its budget in 2012 is about $70 a barrel, Arabianomics.com writes.

CHINA LOOKS TO SAUDI TO QUENCH THIRST FOR FUEL: China is thirsty for oil to fuel its economic boom – and it’s increasingly looking to Saudi Arabia to help quench that thirst… Aramco CEO Khalid Al Falih told CNN’s John Defterios: “China … is the engine of the global economy; they are growing, their population is urbanizing and there is a thirst for energy.” He added: “We need China as much as China needs us.”

Business Forum: Delivery of Medical Services – Dr. Rabeeah: SUSRIS

1/17/12

Among the sectors represented at panels were: energy and renewables, information technology, petrochemical and plastics, infrastructure, agriculture, education, healthcare, transportation and logistics, and water and electricity. One area where tremendous commercial opportunities for cooperation between Saudi and American business people was apparent is the health and medical services sector. Leading the Saudi delegation in that area was Minister of Health, Dr. Abdullah Al-Rabeeah, who opened the plenary session titled, “Health and Medical Services: Delivering Top Quality Care.”

Calls Grow To Halt Brain Drain from Govt Hospitals: ARAB NEWS

1/19/12

The number of doctors from government-run hospitals crossing over to the private sector is on the rise despite the Ministry of Health’s relentless efforts to encourage specialist Saudi doctors and consultants to continue serving the public health sector with attractive salary packages and incentives, health sector officials and experts say.

Rep. Peter Welch: Gulf Allies Expressed ‘Great Reservation and Caution’ About Attacking Iran: THINK PROGRESS

Eli Clifton | 1/18/12

Returning from a congressional trip to France, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates, Deputy House Whip Rep. Peter Welch (D-VT) is bringing back two clear messages from the U.S.’s Gulf allies.

China to Help Saudis with Novel Nuke Power: GREEN PROPHET

1/19/12

In the wake of a 6-day trip by China’s Premier Win Jiabao to Saudi Arabia, China and Saudi Arabia have forged an alliance on developing nuclear power. Saudi Arabia has signed an agreement with China for assistance in the development of nuclear power.

Saudi Business Trade Missions to Visit US: ARAB NEWS

1/19/12

Refrigeration, heating, construction, and defense sectors will be the focus of attention of three Saudi business trade missions consisting of leading Saudi companies in those fields.

They are being sponsored by the US Commercial Service in Riyadh.

Rosenbauer Lands Largest Order in Company History: FOREST LAKE TIMES

1/18/12

Rosenbauer of Wyoming recently received the largest order for fire fighting vehicles in the company and industry’s history. The order comes from the Saudi Arabian Ministry of Interior, and is worth approximately $320 million. 1The order includes 1,125 vehicles, comprised of pumpers, tankers, rescue trucks, aerials, fire fighting boats and other civil defense vehicles.

Saudi Electricity’s Lack of Spark Disappoints: THE NATIONAL

Hadeel al Sayegh | 1/19/12

Saudi Electricity disappointed analysts yesterday when the state-controlled producer said fourth-quarter losses had widened amid higher energy costs.

Saudi Official Denies ID Cards Tracks People’s Movements: ASHARQ ALAWSAT

1/18/12

Saudi Arabia’s Interior Ministry Undersecretary for Civil Affairs, Major General Abdulrahman Bin Abdulaziz Al-Fada strongly denied that the new National ID card contained a microchip to track the movements of Saudi citizens. Speaking to Asharq Al-Awsat, he asserted that this microchip records and stores information in the same manner as credit cards. He revealed that Saudi citizens will be able to use the new National ID cards – and the electronic information they contain –in future transactions, in the government and private sectors. He also stressed that the date contained on these cards would only be utilized with the consent of the cardholder.

Anti-Graft Officials Bust Gang Stealing Medicines From Govt Warehouses: ARAB NEWS

1/18/12

The National Anti-Corruption Commission has busted a gang which was involved in stealing vaccines, serums and equipment worth millions of riyals from the warehouses of the health affairs directorate, the Saudi Press Agency reported on Tuesday quoting a senior official.

‘I want to harm Israel,’ Saudi hacker tells ‘Post’: JERUSALEM POST

1/19/12

An Arab hacker who has been at the forefront of the recent wave of Internet attacks on Israel told The Jerusalem Post on Monday he would continue to strike key Israeli websites until the government “apologizes for their genocide in Palestine and Gaza.”

Contemporary Artists Rock the Boat Gently in Saudi Arabia: NEW YORK TIMES

Vinita Bharadwaj | 1/18/12

“Saudi artists want to talk,” Ahmed Mater says. “I think the world should listen.”

SYRIA: WORLD INACTION FUELS ARMED REVOLT

Growing indications that a deeply divided international community is either unable or unwilling to intervene to halt the violence in Syria are fueling an armed rebellion that risks plunging the country, and perhaps the region, into a wider war, Liz Sly (Washington Post) reports. NEW BID TO STIFLE AID FROM IRAN: U.S. officials have uncovered an effort by Iran to help Syria mask its oil exports and evade an American and European embargo, in a potent new sign of Tehran’s campaign to bolster Syrian President Bashar al-Assad as his regime cracks down on public opposition, Jay Solomon and Alan Cullison (WSJ) report. ARAB LEAGUE CONSIDERS EXTENSION OF MISSION: Arab League foreign ministers will consider extending the League’s observer mission in Syria in a meeting next week, officials said Thursday, AP reports.

EGYPT: MUBARAK LAWYER SAYS ARMY RESPONSIBLE FOR DEATHS

Hosni Mubarak’s lawyer has said the Egyptian army was in charge of security when protesters were killed during the uprising that led to his overthrow. Farid al-Deeb said the former president had imposed a curfew on the afternoon of 28 January and transferred responsibility to the head of the army, BBC reports.

IRAN: 5 WAYS TO AVOID WAR

Do the drumbeaters calling for ‘war with Iran’ never learn from history? It is tempting to dismiss their hot air as an attempt to score political points, but its sheer volume is worrying. Two former US hostages in Iran say Obama must ignore the war talk, and keep in mind these five key points, L. Bruce Laingen and John Limbert (CSM) write. COULD ISRAEL LIVE WITH A NUCLEAR IRAN?: Three months before the recent upsurge in tension with Tehran over its nuclear program, an Israeli think tank simulated fallout from what many here consider the unthinkable: an Iranian nuclear explosive test. The results of the simulation, published this week, are not the Middle East doomsday that some here have warned of, Joshua Mitnick (CSM) writes. THREE WAYS TO STIFLE IRAN’S PROGRAM WITHOUT WAR: Partly by design and partly by happenstance, a three-pronged US strategy for checking Iran’s nuclear program and the regime in Tehran is emerging: an unprecedented combination of sanctions, covert action, and a Syria-inspired protest movement within Iran, Leonard Spector (CSM) writes.

ISRAEL: CLASH OF CIVILIZATIONS

In Israel, which gave the world a very special woman leader in Golda Meir, and where young women are drafted like their male counterparts, and women played a significant role in the success of early Zionist settlements, the rise of the ultra-Orthodox is posing a huge challenge at the very core of society. Moshe Halbertal, a professor of Jewish philosophy at Hebrew University, says that whereas a century ago secular nationalism and socialism challenged the religious establishment, “today the issue is feminism.’” Rabbis are losing sleep over this, he added, just as the Islamic world – particularly post-Arab spring – ponders the place of women, Alison Smale (IHT) writes.

MIDDLE EAST: FAST FOOD CHAINS ON THE GROW

Arabianbusiness.com provides a slideshow documenting the growth of fast food chains in the Middle East.

YEMEN: AL QAEDA MILITANTS TIGHTEN GRIP ON YEMEN TOWN

Islamist militants raised their flag over the citadel at Radda and pledged allegiance to al Qaeda leader Ayman al-Zawahri after seizing the Yemeni town southeast of the capital Sanaa, residents said on Monday, Alsharq/Reuters reports.

AFGHANISTAN: SUICIDE ATTACK KILLS 7

At least seven civilians have died in a suicide attack at an airport used by international forces in the southern Afghan city of Kandahar, BBC reports.

ANALYSIS: IRAN IS FINDING FEWER BUYERS FOR ITS OIL

The squeeze is already beginning on Iran’s oil exports — and guess which nation quietly reduced its purchases from Tehran this month. Why, that would be China, Iran’s supposed protector, David Ignatius (Washington Post) writes. Iran’s reduced sales to its biggest oil customer resulted from a dispute over payment terms… But it’s an early sign of what may be significant reductions in Iranian exports to Europe and Asia, as buyers there hedge against the likelihood of tighter sanctions.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.18.12 EDITION

SUSRIS Project Now on iPhone: SUSRIS

1/17/12

As many of our readers know, SUSRIS is a sister site to SUSTG and part of a family of sites that provide unparalleled resources for those interested in Saudi Arabia, the region and U.S.-Saudi relations.  SUSRIS has launched an iPhone App available in iTunes. The App will deliver SUSRIS articles, interviews, special reports and much more from a variety of sources to the palm of your hand wherever you travel. Look for a SUSTG iPhone App in the near future.

Saudi Ex-Spy Chief Says ‘All’ Options Open On Iran: AFP

1/18/12

Saudi Arabia will use “all available options” to defend itself against Iranian “threats” that might trigger “unwanted military confrontation,” its former intelligence chief told a Gulf security conference.

OIL CLIMBS PAST $100: Oil leaped above $100 a barrel Tuesday due to renewed tensions over Iran and after Saudi Arabia, the world’s largest exporter of the commodity, indicated it thinks prices should be kept around that level…Oil prices rose after Saudi Oil Minister Ali al-Naimi told CNN that Saudi Arabia wanted to stabilize prices at $100 a barrel this year and was ready to pump more oil if needed.  IRAN WARNS SAUDIS NOT TO USE SPARE OIL CAPACITY: Iran warned Saudi Arabia on Tuesday to rethink an offer to make up for oil lost to world markets as a result of threatened curbs on its exports, as diplomats said an EU embargo may be in force by July, AFP reports. SAUDI CAPABLE OF MEETING CUSTOMER NEEDS- AL-NAIMI:  Asharq Alawsat reports, In a statement to Asharq Al-Awsat, Saudi Minister of Petroleum and Mineral Resources, Ali Al-Naimi dismissed doubts regarding the kingdom’s ability to produce at full capacity. Al-Naimi spoke to Asharq Al-Awsat at the launching of the Red Sea Refinery project YASREF.

Pakistan: Saudi Arabia Intervenes To Heal Rift between Army and Government: GLOBAL POST

1/18/12

Saudi Arabia is playing a behind-the-scenes role to defuse tensions between Pakistan’s powerful military and its embattled civilian government, which some fear could be near collapse.

Kingdom, China Vow To Rid Mideast Of Nuke Arms: SAUDI GAZETTE

1/17/12

Kingdom of Saudi Arabia and China Sunday stressed the importance of preventing proliferation of weapons of mass destruction of all kinds. The two sides also expressed their support for making the Middle East, a zone free of weapons of mass destruction including nuclear weapons, in accordance with international resolutions in this regard.

Saudi Basic Fourth-Quarter Profit Drops 10% On Pricing, Misses Estimates: BLOOMBERG

Glen Carey | 1/17/12

Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker, said fourth-quarter profit dropped 10 percent, missing analysts’ estimates.  Net income fell to 5.24 billion riyals ($1.4 billion) from 5.81 billion riyals a year earlier, the Riyadh-based company known as Sabic said in a statement today.

Saudis Deny Stock Exchange Website Infiltrated By Israeli Hackers: HAARETZ

1/18/12

Saudi Arabian authorities on Wednesday denied claims that Israeli hackers had crippled the website of the oil-rich country’s capital market, saying the system was operating normally.

ISRAEL SAYS CYBER WAR DID NOT HARM VITAL SYSTEMS: None of Israel’s vital online systems were compromised in the recent series of cyber-attacks on Israeli websites, Israel’s Shin Bet sources told Ynet news website on Monday as the Saudi hacker vowed “stronger” attacks.  The statements came after hackers disrupted online access to the Tel Aviv Stock Exchange, El Al Airlines and three banks on Monday in what the government described as a cyber-offensive against Israel, Al Arabiya reports.

Saudi Arabia, Turkey And UAE Drive Trade Growth: ARAB NEWS

1/18/12

Emerging market growth remained lackluster in the fourth quarter as an improved rate of expansion in service activity only marginally outweighed a further decline in output from manufacturers, the HSBC Emerging Markets Index (EMI) shows.  Markets in Saudi Arabia, Turkey and the UAE recorded growth in the fourth quarter. A press release received here also says that the EMI edged slightly higher to 52.2, from 52.0 in Q3, reflecting a subdued rate of economic expansion as world trade declined during 2011, following its peak earlier in the year.

Tesco Signs Saudi Franchise for F&F Clothes: TRADE ARABIA

1/17/12

Tesco, the world’s No.3 retailer, announced a franchise deal with Fawaz Abdulaziz Al Hokair & Co, the largest owner of shopping malls in Saudi Arabia, as part of a drive to transform its F&F clothing range into an international fashion brand.

Hai’a No Longer Needs Volunteers: Al-Sheikh: SAUDI GAZETTE

Hazim Al-Mutairi |1/17/12

The new chief of the Commission for the Promotion of Virtue and Prevention of Vice (the Hai’a) has said that non-Hai’a volunteers will no longer be allowed to serve in the force.

Cabinet Okays Restructuring Of Military Service Council: SAUDI GAZETTE

1/17/12

The Cabinet on Monday approved the restructuring of the Military Service Council (MSC) under the chairmanship of the Prime Minister, the King.  The MSC deputy chairman will be the Deputy Prime Minister and Minister of Interior.

Prince Alwaleed Warned Over Wife’s Media Appearances: EMIRATES 24|7

1/18/12

The elder brother of Prince AlWaleed bin Talal slammed the famous Saudi billionaire over the repeated appearance of his wife in the media and warned him of a “severe” response if he does not stop her.
In a surprise statement carried by the so-called Logainat website, Prince Khalid bin Talal bin Abdul Aziz said he had advised his younger brother to stop such practices which “violate our family, religion and Saudi values.”

ISRAEL: “VERY FAR” FROM DECISION TO ATTACK IRAN

Defense Minister Ehud Barak said Wednesday any decision about an Israeli attack on Iran was “very far off.” Barak was speaking on Israel’s Army Radio before a planned visit Thursday by U.S. armed forces chief General Martin Dempsey that has triggered speculation Washington will press Israel to delay any action against Tehran’s nuclear program, Reuters reports. KEEPING STRAIT OPEN TO BECOME MORE DIFFICULT OVER TIME: The U.S. and its allies would be able to reverse any Iranian attempt to block oil traffic through the Strait of Hormuz within weeks, according to the authors of a report on Persian Gulf strategy. Reopening the shipping lanes may prove harder in future years, they found, Bloomberg reports.  OIL EMBARGO GAINS STEAM IN ASIA, EUROPE: U.S. allies in Asia and Europe voiced support for Washington’s drive to cut Iran’s oil exports, although fear of self-inflicted pain is curbing enthusiasm for an embargo that Tehran says will not halt its nuclear program, Asharq Alawsat/Reuters reports. HEARING BEGINS FOR FAR-RIGHT FOREIGN MINISTER: Israel’s state prosecutors began a hearing on Tuesday to decide whether to indict Foreign Minister Avigdor Lieberman on charges of fraud, breach of trust and money laundering, a move that could shake up Israeli politics and lead to early elections, Ethan Bronner (NYT) reports.

EGYPT: TRANSITION GETS MESSY

Reform leader Mohammed ElBaradei’s surprise pullout from the presidential race has laid bare the messiness of Egypt’s transition to democracy with less than six months left for the ruling generals to hand over power. In less than two weeks on Jan. 25, Egyptians will mark a year since the start of the popular uprising that forced Hosni Mubarak out of office. But there is no longer much talk about the revolution’s lofty goals of bringing democracy, freedom and social justice, AP reports.

SYRIA: VIOLENCE SURGES, 34 KILLED, MONITORS UNABLE TO QUELL VIOLENCE

Violence surged in Syria on Tuesday as activists reported that at least 34 people had been killed in several towns and cities across the country, including six soldiers who had defected and three members of the security forces, Nada Bakri (NYT) reports. OPINION: SENDING ARAB TROOPS TO SYRIA

Are we now facing the crystallization of an international position towards the situation in Syria?

I think so, especially as there are several indications of this, including the moves by some stakeholders in our region, especially with the Arab visits to Washington, or the international visits to Middle Eastern capitals, particularly those actively involved [in the Syrian crisis]. Above all this, there are the developments in Syria and al-Assad’s recent speech, which suggested the man was detached from reality, Tariq Alhomayed (Asharq Alawsat) writes.

TURKEY: ANGRY RESPONSE AFTER INSENSITIVE, OFFENSIVE REMARKS BY GOP CANDIDATE

Turkey’s foreign ministry condemned Texas Gov. Rick Perry Tuesday for saying that Turkey was a “country that is being ruled by what many would perceive to be Islamic terrorists.” Perry made the statement during a spirited debated between Republican presidential candidates in South Carolina Monday night, CNN remarks.

PAKISTAN: OFFER FOR US ENVOY VISIT DECLINED

Pakistan’s government, embroiled in tensions between civilian and military leaders, has declined a visit from a U.S. envoy, a senior Pakistani government official told CNN.

JORDAN: WHITE HOUSE DESCRIBES PROGRESS IN TALKS

The Obama administration heralded progress in Israeli-Palestinian talks held under Jordanian auspices, JTA reports.

QATAR: A POWERFUL PUNCH?

From its startling winning bid to host the 2022 soccer World Cup and mediating roles in Middle East and African conflicts to its role leading Arab efforts to isolate Syria, tiny Qatar is aspiring to an ambitious role: global powerbroker, Reuters writes.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

Editor’s Note:

Since 2003 the Saudi-US Relations Information Service (SUSRIS) project has provided thousands of articles, interviews, special reports, maps, photos, videos and other hard to find resources for your use in understanding the past, present and future of the relationship between the Kingdom of Saudi Arabia and the United States. We have constantly sought to improve the delivery of these important on-line information ‘nuggets’ to make them more useful to you and your colleagues.

Today we are very pleased to announced the launch of SUSRIS as an iPhone App available in iTunes. The App will deliver SUSRIS articles, interviews, special reports and much more from a variety of sources to the palm of your hand wherever you travel.

In addition to the SUSRIS content you can easily access news and reports from other sources including the SUSTG News Review, SUSRIS Tweets, SUSRIS Videos and Slides, and content from ArabiaLink, SUSRISBiz and the Saudi British Relations Information Service (SBRIS).

To mark the inauguration of this very special feature of the SUSRIS project we would like to offer the App for no cost to the first 250 people to download it from iTunes. Simply connect your iPhone to the iTunes App store and search for “SUSRIS.” It’s free for the first 250 downloads.

Please share the news of this important development in the history of the SUSRIS project with your friends and colleagues. We are confident that putting “SUSRIS” in your pocket will be a good decision.

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FEATURES OF THE NEW “SUSRIS” iPHONE APP

• SUSRIS Articles – Articles, interviews and special reports from the Saudi-US Relations Information Service (SUSRIS) – www.SUSRIS.com
• SUSTG News – From the Saudi-US Trade Group (SUSTG) – www.SUSTG.org
• SUSRIS Tweets – From @saudius
• Maps – Interactive annotated Google map screen
• SBRIS News – Articles, interviews and special reports from the Saudi-British Relations Information Service (SBRIS) – www.SaudiBrit.com
• SUSRIS Slides – Powerpoint presentations from the SUSRIS Channel of SlideShare.net
• SUSRIS Videos – Video recordings from the SUSRIS Channel of Youtube.com
• SUSRISBiz – Exclusively business articles, interviews and special reports from the SUSRIS Business Web site – www.SUSRISbiz.com
• SUSRIS Family – A description of the various Web sites and in information resources that make up the SUSRIS project and its companion services
• ArabiaLink – Articles, interviews and special reports from the archives of ArabiaLink – www.ArabiaLink.com
• SUSRIS Calendar – Event announcements and other key dates of interest from SUSRIS
• Contact – Information for communicating with the SUSRIS Project staff
• Search – A keyword search function to locate key data across the various iPhone App tabs

Please tell us what you like about the SUSRIS iPhone App and what we can do better to make it more useful to you.

Patrick Ryan
Editor-in-Chief
The SUSRIS Project
Email: patryan@susris.com

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SUSRIS Articles – Articles, interviews and special reports from the Saudi-US Relations Information Service (SUSRIS) – www.SUSRIS.com

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SUSTG News – From the Saudi-US Trade Group (SUSTG) – www.SUSTG.org

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SUSRIS Tweets – From @saudius

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Maps – Interactive annotated Google map screen

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SUSRIS Slides – Powerpoint presentations from the SUSRIS Channel of SlideShare.net

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SUSRIS Videos – Video recordings from the SUSRIS Channel of Youtube.com

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Editor’s Note:

The recently concluded US-Saudi Business Opportunities Forum (Dec 5-7, Atlanta) not only featured an extremely rich assembly of senior government officials, business people and more, but a broad representation of industries and sectors as well. Among those who participated from the Kingdom were three serving ministers in the Government plus the Governor of SAMA, the central bank and dozens of other senior officials — all who provided the most complete and authoritative reviews of their respective areas of responsibility in keynote remarks and panel discussions. Among the sectors represented at panels were: energy and renewables, information technology, petrochemical and plastics, infrastructure, agriculture, education, healthcare, transportation and logistics, and water and electricity. One area where tremendous commercial opportunities for cooperation between Saudi and American business people was apparent is the health and medical services sector. Leading the Saudi delegation in that area was Minister of Health, Dr. Abdullah Al-Rabeeah, who opened the plenary session titled, “Health and Medical Services: Delivering Top Quality Care.”

In addition to providing a comprehensive overview of the Saudi health system – its achievements and its challenges – Dr. Rabeeah talked with SUSRIS on the sidelines of the Forum, saying that:

“There is no question that the relationship between the United States and Saudi Arabia in the health sector is very important. It’s not only the public side of it, but also the private side of it. I think what we have discussed today in terms of initiatives related to industry, pharmaceuticals and research are wide; the scope is huge.

“We hope that the businesses, those who are interested in the healthcare business – those attending this forum, and those outside the forum – will take those opportunities in a strong partnership with the health system of Saudi Arabia. Hopefully that will be reflected in business initiatives and also improving the healthcare system and developing the research and technology.”

And what was his impression of the reaction of American business people to the vast opportunities and their interest in getting involved in Saudi health sector needs? He told SUSRIS, “My impression is positive; I think they are interested. You can see it from their questions and I am optimistic for the future.”

Today we present for your consideration Dr. Rabeeah’s remarks at the US-Saudi Business Opportunity Forum plenary, “Health and Medical Services: Delivering Top Quality Care.” It is accompanied by the slides that were integral to his presentation, also available on the SUSRIS channel on SlideShare.net; and the video recording from his appearance.

Dr. Rabeeah was introduced by Dr. Hanan Balkhy, Executive Director, Infection Control, National Guard Health Affairs.

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Dr. Abdullah Al-Rabeeah, Minister of Health

[H.E. Dr. Abdullah Al-Rabeeah] [Greeting in Arabic]. Your Highness, excellencies, respected audience, ladies and gentlemen. Good morning to all of you, and thank you, Hanan. Dr. Hanan Balkhy is not only a colleague, but she is also a leader in health. She is a Harvard graduate and the Director of her Collaborating Center for Infection Control in the National Guard and GCC countries, and collaborating with the World Health Organization and the CDC. I would like to thank you for this introduction.

And let me start. Being a pediatric surgeon, I will start with the conjoined twins. Your Highness [Prince Faisal], I really enjoyed how you brought scouts to this gathering, and also I complement His Majesty [King Abdullah] for adding the name “Messengers of Peace.” This is well-respected name in which we value, but I should also equally complement the health workers. I’d like to use the words of His Majesty, that the health workers are also the “Messengers of Life.” His Majesty has been actually the driving force for this experience of conjoined twins in Saudi Arabia. The experience has reached now more than 66 cases sponsored by His Majesty. And to show you how His Majesty is so loving for children, he visited most of those children after surgery in a fatherly and actually humane touch for each of those twins.

Now, let’s go to work.

The history of health in Saudi Arabia is fascinating. It only started in 1926 when the first primary health care service was initiated, and in the first few years the development was slow. It wasn’t until the 1950s when the first landmark of the Ministry of Health was created. Before that, it was only a department of health in the Ministry of the Interior. The first Minister of Health was His Royal Highness, Prince Abdullah Faisal. After that, there has been tremendous progress. And to show you the progress, between 1970 and 1990 you see the tremendous increase in hospitals, in the work force, and also in primary health care centers. It doubled again between 1990 and 2010, and we will probably achieve the same again by 2030. Even training was only recently apparent in Saudi Arabia. It wasn’t until 1993 when we had the first Saudi Council for Health Specialties, which is equivalent to the American colleges of different specialties.

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[slideshare id=11115370&doc=rabeeah2-120117131326-phpapp01]

You should know about the law of Saudi Arabia, and the mandate of Saudi Arabia. Chapter five of our Basic Law, in Article 27, that the government guarantees the right of healthcare for citizens and their families in cases of emergencies, sickness, disability, and old age. In Article number 31, the government is responsible for public health in the Kingdom, and provides health care services for every citizen. The mandate of the Ministry of Health, which is established in 1950, dictates that it guarantees the provision of primary healthcare services to all citizens, and also provides secondary and tertiary services, and develops and implements plans to insure the provision of health care services.

If you want to talk about progress in health, look at.. ..I think all of us agree that the health indicators, which have been approved by the World Health Organization, are the key figures for success. In 27 years, we have moved from low numbers to numbers which compete with international standards, and I think the numbers speak for themselves. Our fights with contagious and infectious diseases — Saudi Arabia is a country where the two holy cities, Mecca and Medina are located and we receive visitors for the holy activities from more than 165 countries, so we have to be more than active in infection control. You can see our numbers showing a decline, which is evidence of success. The same also for diseases such as polio – we are a polio-free country. We will be eradicating all types of measles within the coming year, which will be the third country in the world to eradicate measles, and the same applies to tuberculosis and others. If you look at vaccinations, actually we are one of the top five countries in the world where vaccination has approached 98.8% of children aged one year and older.

The health services in Saudi Arabia are spread between three main sectors. The bulk is the Ministry of Health, which gives health services to 60 percent of the population. The other government agencies, whether university hospitals or military hospitals, provide 20 percent of the health services, and the private sector provides 20 percent of the health services.

Like all countries, we have challenges. We have the challenge of increasing expectations of our citizens. We also have the same challenges, like all countries, of increasing costs, limited resources and how to deploy our resources effectively. Like the United States, we have a large country. If we compare population to population, we have a vast country with many challenges and expectations — the sustained growth and the changing disease pattern that pose challenges for the health workers.

Now the cost. You can look at those graphs. It’s clear that looking at Saudi Arabia and the United States you see between the years 2002 and 2010 how the costs have been driven quite high. Also the demand is increasing. We have an increasing growth of population. Our population growth rate is around 2.8. We hope that it will decline a little bit in the future. We have the same factors of an aging population. The more we succeed, the more we increase the costs for health. And chronic diseases also pose a challenge. Psychiatric illness also is a challenge. We have another big challenge, which are road traffic accidents that I’ll talk about later.

Now we have almost close to 28 million now, and in the year 2020 we are expected to be around almost 40 million, and we will double our population above the age of 60, which is going to significantly increase the cost for health. I think we share something in common with the U.S.A. We manage to compete with the U.S.A. in obesity. [Laughter]. We have a 33 percent obesity rate, and 17 percent diabetes rate. We rank next to the USA in diabetes. If you look at the contributing factors for chronic illness, contrary to most countries, road traffic accidents stand first. We lose more than 6000 young people each year from road traffic accidents, and also we have an epidemic of lack of physical activity, approaching more than 34 percent. Unfortunately smoking is not in a state of decline, it’s going up. We have limited resources of bed capacities, and also we are like most countries looking for a professional staff to improve our health parameters.

Hospital beds — just to tell you that the acceptable standard is 3.5 beds per 1000 in population — we are now at 2.2. With our plans, which I’ll show you later, we are aiming for 3.5 per 1000. However, the United States is not far from us. They have 3.1 beds per 1000 population, but we cannot compete with Japan, where they have 13.7 beds per 1000 population.

Physicians per capita — I think we still are close to the bottom and we have to do more. We are a little bit lower than the U.S.A., but you are not doing well with nurses. I think we should do more with the nursing staff. And also this is the challenge, and I think, I’m not sure who’s right – is it us or the United States, or are both of us wrong? We are only giving 3.4 of our GDP for health. I feel it’s not enough. However, the United States is spending 17.4 of their GDP for health. And if you look at the beds, we are not far from each other, the same thing for the number of physicians. So either the United States is spending too much, or we are spending two little, or both of us have to do something to be in the middle.

However, if you look at the satisfaction rate, a recent survey done by an independent worker, our satisfaction rate for patients is 70 percent. And my understanding from our friends in the United States, the satisfaction rate is not far from our numbers. Now, per capita expenditure, we are not doing well. We are only spending in the Ministry of Health $531 per capita. However, I think the U.S.A. is overspending. I think close to $8000 per capita. And the private sector, either there is a shift to the left, which is too much private, or a shift to the right, too much public. Most countries believe that the ratio should be between 70 and 30 percent; in Saudi Arabia, it is 80 to 20 percent.

We have to do better for deploying our resources, which I mentioned. We have studied also the effectiveness of smaller hospitals where we have found hospitals below 100 bed capacity are not productive, and actually they pose a challenge for patient satisfaction. This actually tells you that occupancy rates go higher with larger hospitals and lower with smaller hospitals, so that’s changing our strategy for the future. And this is to tell you the ratios in the Ministry of Health.

We did not forget quality. We have actually gone through the challenge of accreditation, and putting priorities for our resources, and improving the infrastructures for our health facilities.

In our health reform, we have studied carefully 35 health systems, including those in front of you. And we have come to the conclusion that we have to move to the concept of integrated comprehensive health care system, which is ICHC. In the past most of the health systems used to run around the hospitals unfortunately, but they have forgotten the focus, which is the patient. Now we have moved to focus on the patient. We believe that our focus for all of our health reform is the patient. Today we are working somewhat haphazardly and just thinking to build hospitals, but in the future we want to have a system where each province of the country has a center, a base of the primary health care system, followed by secondary and tertiary systems in an organized manner.

And these initiatives gave us eight points. We have to develop and also restructure our hospitals. We have to improve our primary health care services. We have to improve and automate our referral systems. We have to develop our air and land ambulance systems. We have to invest a lot on our e-health. My friend, Minister Abdullah Alireza, he mentioned to you that we are investing close to $3-4 billion in the e-health initiatives. We also develop the human resources, which is an integral part of the health system, and insure adequate supply of pharmaceuticals, and implementation of accreditation at quality standards.

Now, in the past we were moving in a rectangular manner. We want to move in a pyramid, with the base being primary care, then moving towards the quaternary care. We want to actually reorganize our primary health care, which is the base for any good health care system, and to reform not only the buildings and structures, but also the mandate and the function of our primary health care centers. Our referral system, within two months we will be launching one of the largest automated referral systems of any country. It will be a national referral system, which should be referring patients from different villages and cities to bigger hospitals being public or private, and we will start it in a pilot study, and then it will be implemented nationally.

Also we are doing well with our electronic automation, which I will allude to later on. Our main objectives are to provide adequate transportation, and also effective resource utilization and coordination and integration, and also improving our existing services. I think all of you know the importance of e-health. We have gone through a strategic plan for our e-health reform. We have put that for tender, and it was won by IBM, and they have given us a five-year strategic plan – it is available for those of you who are interested — which is to put it in phases based on the integrated health care system of Saudi Arabia. Our e-health system strategy is being phased into different phases over the coming five years, taking initiatives such as cloud computing, national e-health standards, and also hospital information systems, and patient satisfaction, patient referral, Saudi pact system, and the rest of those initiatives.

We have future plans for our e-health strategy, which will not forget most of the health information systems for the hospitals, and putting five major data centers in most of the medical cities, so that they will have an e-health recovery plan. Now, accreditation is an important part of our both public and private health care system. We already started accreditation through our national accreditation program called [unknown] We have started with the Ministry of Health, and next year we will be starting implementing that in our private sector. We hope within the coming four to five years, all hospitals in Saudi Arabia will be accredited. And also we are collaborating well with the GCI of the United States.

Our goals for our integrated health care system are that we should have an easy and timely access to care, comprehensive medical care services, automated referral system, equity to all levels of care, and proper transfer and referral systems. We should not forget quality, safety, and satisfaction, and we know we have challenges. We know that the biggest challenge – I wish actually Abdullah Alireza was here. I wish I’d invited the Minister of Finance here today, because item number one is funding, and next year please invite the Minister of Finance so that you can challenge him here. [Applause]. [Inaudible from audience]. He did not come. [Inaudible from audience]. [Laughter]. You know why? Because of my talk. So funding, and also like any country we have resistance to change. Being a doctor, and I hope the doctors will pardon me, the most difficult people to resist changes are the physicians, so we have to live with them. [Applause].

Now, we challenged our strategy through internal consensus building, through our health workers in the Ministry of Health, and health workers both in the private and public arena in Saudi Arabia. We have gone through a national consensus building for this strategy with the Shura Council, our parliament, and also different health leaders in Saudi Arabia, but we did not forget the international consensus building. We have experts that have studied our health reform from the United States, England, Europe, and different countries, and most of them agreed that integrated comprehensive health care system to be a national project is the way to go. And the last word they mentioned: this approach has been adopted and validated by a world-class health care system that we hope to achieve.

Now, budgets. I know I have businessmen — I tried to remove those slides, but Mohammad told me you cannot remove money from businesspeople, so I have put that one. So we know that the funding for quaternary will at least need 1.8 million per bed operation and the same thing for central beds and general hospitals. Also the number of physicians per bed is .7, and how many staff per primary health care center. I think you are interested in medications, we are spending close to $1.5-2.0 billion a year only for the Ministry of Health, so you may have to double it for the rest. We have to invest in training. I know there are leading people from American colleges and also universities. We have an investment of close to $150 million a year for training of our staff, and the same thing applies for ambulance and mobile clinics. So our integrated health care system is intended actually to go with those initiatives that we will implement in the coming few years.

Our ten-year strategic plan is already out. The Arabic version was out two months ago. We are now finalizing the English version, which we will put on our website, which is open for you to know what we have in the coming few years. One thing which is important, there is a logo which says patients first. We believe that you cannot do any healthcare system without putting the patient first, but you can now read the words below, which are the words of His Majesty that I will mention later on.

Now, I cannot leave this without mentioning the Saudi initiative of mass gatherings. We have the largest mass gathering in the world, which is Hajj. We receive close to four million people a year. They come only for a week, and they gather in a narrow area. We have developed over decades the world experience in how to manage mass gathering medicine, including infection control. And two weeks ago we launched an international conference, and we agreed with the World Health Organization and with the CDC that Saudi Arabia will be the leading force, and will be the reference country for mass gathering medicine that we hope to deliver to the world.

By the way, the clock you saw, it is the tallest and the biggest clock in the world, which has been given by His Majesty King Abdullah to be a timing reference for the world, and it is available for all Muslims in the world as a reference. Our data for mass gathering medicine has been published in the Lancet and there have been many publications that you are welcome to read and know about mass gathering medicine. We will be starting training program next year in mass gathering medicine.

Now, for us we have to talk about innovation. I think the Ministry of Health is no longer healthcares only service provider. We believe the Ministry of Health has to be involved in education, in research, and also in business initiatives. We feel that healthcare and health finance solutions, health industry and technology transfer, and evidence-based medicine, research, and performance measures cannot be forgotten in the health care system of Saudi Arabia.

Now those of you who are in the engineering and construction firms, we have in the coming five years 190 hospitals to be built, five medical cities the size of 1500 beds with centers of excellence, and 1400 primary health care centers. Those who would like to share with us technology transfer, we are interested in the medical device technology transfers, pharmaceutical industries, and e-health initiatives. These are models for our engineers here in the audiences about some of our hospitals and medical cities, and they are more than welcome to critique them. And less than two years ago I signed with the Secretary of Health of the United States in Geneva a Memorandum of Understanding that will strengthen our ties with the U.S. both in the field of clinical expertise and exchange, in the field of training, in the field of transfer of technology, and in the field of collaboration with infection control. We value this collaboration.

I have put this slide to show you that the proposed health care investment, that the Ministry of Health is commissioned to transfer the process of know-how, technical know-how, logistical support and expertise, and technology. There are opportunities for you to know. Training for health care professionals, institutional partnership, public to private partnership, and transfer of technology and research, plus health facility development.

In summary, healthcare is a promising avenue for collaboration, but it requires robust business to government initiatives. Opportunities are numerous and can be identified through the Ministry of Health ten-year strategic plan. This plan has been presented two years ago in its first draft to His Majesty, but let me show you what he said. “At the bottom, nothing is more precious than the health of citizens.” That’s his values, which we value and respect.

Now, I cannot leave without speaking about the conjoined twins. This is the initiative of His Majesty King Abdullah. He has sponsored many twins, and these flags represent sixteen countries where those poor twins came from and have been treated and taken care of and sent back to their home countries. And they were totally sponsored by His Majesty. So he is not only a leader, he is a child lover and helper. Thank you. My time is over, thank you for yours.

[Remarks as delivered]

***

About H.E. Dr. Abdullah Al-Rabeeah

Minister of Health of the Kingdom of Saudi Arabia

Dr. Abdullah Al-Rabeeah was appointed Minister of Health in February 2009.

Born in 1955 in Riyadh, Dr. Al-Rabeeah earned a MA in Pediatric Surgery from Alberta University, Canada in 1985 and a Bachelor of Medicine and Bachelor of Surgery from King Saud University, Saudi Arabia in 1979. In addition, Dr. Al-Rabeeah was board-certified by the Canadian Board of Surgeons in 1985 and the Canadian Board of Pediatric Surgeons in 1987.

Over the course of his career, Dr. Al-Rabeeah has held the following positions: Assistant Professor of Pediatric Surgery, King Saud University; Pediatric Surgery Consultant at King Khaled University, King Khaled National Guard Hospital and King Fahd Specialist Hospital; and Executive Director General of Health Affairs at the National Guard, 2005-2009.

Source: US-Saudi Business Opportunities Forum

***

Related Items:

• US-Saudi Business Opportunities Forum – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Home Page
• SUSRIStube Channel – Youtube.com
• SUSRIS Channel – SlideShare.net
• Ministry of Health Portal – Saudi Arabia
• Key Health Indicators – Saudi Arabia (1431)

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.17.12 EDITION

Saudi Aramco to Invest $200 Billion in Refining, Exploration: BLOOMBERG

Wael Mahdi | 1/17/12

Saudi Arabian Oil Co. plans to build refineries in China and Indonesia as part of a $200 billion spending program to double refining capacity and explore for oil and natural gas during the next decade.

Oil Rises to Three-Day High as Saudis Seen Targeting $100 Crude: BLOOMBERG

1/17/12

Oil rose to the highest level in three days as France sought to limit delays for a ban on Iranian imports and Saudi Arabia’s energy minister said the world’s biggest crude exporter wants prices at $100 a barrel.

SABIC, Sinopec Ink Riyadh Deal To Foster Petchem Investments: ARAB NEWS

1/17/12

The Saudi Basic Industries Corporation (SABIC) and the China Petroleum and Chemical Corporation (Sinopec) have signed a protocol of cooperation in Riyadh to explore new business opportunities.

SAGIA Sets 3-Month Deadline For Companies ‘In Red’: ARAB NEWS

1/17/12

The Saudi Arabian General Investment Authority (SAGIA) has announced companies in the red category of the Nitaqat program will have to sign an undertaking to ensure they continue to receive the authority’s services, at least for the short-term.

Minister of Commerce and Industry Dr. Tawfiq Al-Rabiah Meets with USTR Daniel Malone: SAUDI PRESS AGENCY

During the meeting, they discussed trade and industrial relations between the two friendly countries and means of bolstering cooperation as well as taking advantage of available opportunities and benefits.

Saudi Arabia Remains Indispensable U.S. Ally, Argues New CFR Book: COUNCIL ON FOREIGN RELATIONS

1/13/12

As the United States confronts a volatile Middle East, Saudi Arabia is “a central player—sometimes in accord with U.S. policy, sometimes not—in Arab-Israeli peace negotiations, in the quest for stability in Iraq, in Persian Gulf regional security issues focusing on Iran, and in the global struggle to promote a peaceful vision of Islam over jihadist violence,” writes Thomas Lippman in a new book, Saudi Arabia on the Edge: The Uncertain Future of an American Ally.

Israeli Hackers Bring Down Saudi Stock Exchange Website: JERUSALEM POST

1/17/12

Hackers post in forum that attack is a response to “lame” Saudi attack on Israelis, including TA Stock Exchange and El Al websites; add that if Saudi attacks continue, they will hit back harder.

Officials From Saudi Arabian University Visiting GNTC: ROME NEWS TRIBUNE

1/17/12

Georgia Northwestern Technical College (GNTC) will host a delegation of five officials from King Faisal University in Saudi Arabia on Thursday, January 19.

EP Beaches Now Free Of Gulf War Pollution, Says PME: ARAB NEWS

1/14/12

President of Meteorology and Environment Protection (PME) Prince Turki bin Nasser said beaches in the in Eastern province have been cleaned of all pollutions caused by the Gulf War.

Citizen Hands Over Antique To SCTA: ARAB NEWS

1/15/12

A Saudi citizen has handed over a pre-Islamic antique piece that was in his possession to the Saudi Commission for Tourism and Antiquities (SCTA).

Two Saudis Bag King Faisal Prize: SAUDI GAZETTE

1/16/12

Two Saudi nationals, two Egyptians and three Americans bagged the King Faisal International Prizes for the year 2012 (1433H), it was announced here Monday.

Donald Rumsfeld’s Doctrine And The Few Proud Marines: ARAB NEWS

Abdulateef Al-Mulhim | 1/17/12

So, what has changed in the past few years with regard to the conduct of the American military? And what do the American military commanders teach their soldiers?

EGYPT: ‘REVOLUTIONS ARE PROCESSES…IT WILL TAKE TIME’ SAYS FORMER GOOGLE EXEC

It’s been nearly a year since Google executive Wael Ghonim became one of the faces of the Arab Spring as his online organizing efforts and his arrest helped draw people and attention to the demands by many Egyptians for reform — a movement that led to the toppling of President Hosni Mubarak’s regime. On Morning Edition today, host Steve Inskeep spoke with Ghonim about what has happened in Egypt since then and whether there’s a sense of disappointment there that reforms aren’t coming faster. EGPYT ASKS IMF FOR $3.2B IN AID: Egypt has asked the International Monetary Fund for $3.2 billion in support, a government minister said on Monday, as the country’s interim cabinet seeks to fill a budget gap, Trade Arabia reports.

IRAN: ISLAMIC REPUBLIC BANS FOREIGN CURRENCY TRADING ON STREET

The deputy governor of Iran’s central bank says trading in foreign currency outside of banks or licensed money changing operations is forbidden, Daily Star reports. IRAN WILL GIVE MODEL DRONE TO US: Iranian state radio says Tehran will give the United States a model of the American surveillance drone captured by the Islamic Republic, Arab News reports.

GCC: GDP GROWTH SLOWING DOWN

Real and nominal GDP growth rates in the GCC are expected to slow down in 2012 because oil production and price are not expected to be higher than last year, according to a leading economist, Trade Arabia writes.

MIDDLE EAST: THE FUTURE OF E-COMMERCE?

The Middle East isn’t renowned for having many big names in the world of online retail.

That may be about to change. At the moment customers in the region spend around $1.1 billion through the internet. By 2016, it will double to $2.2 billion, according to research by Euromonitor.

That means it is growing at one of the fastest rates in the world, BBC reports.

JORDAN: JUST WHAT DOES JORDAN’S ABDULLAH UNDERSTAND?

Jordan’s population is much smaller than Syria’s and, superficial appearances notwithstanding, still largely based in tribal structure. In such a setting, the state cannot get away with the use of deadly force, particularly not against an opposition which to date is overwhelmingly composed of Transjordanians, not Jordanians of Palestinian origin. Hence, recent regime behavior raises many questions. Who within it supports Prime Minister Khasawneh’s attempts at reform? Who feels most threatened by demonstrations calling for an end to corruption? Who is making the decisions to send in the thugs, and how long will it take before someone with an ounce of wisdom realizes that such crude attempts at repression, generally by Transjordanians against other Transjordanians, have serious potential to spin out of control?  Laurie A. Brand and Fayez Y. Hammad (Middle East Channel) write.

PAKISTAN: SUPREME COURT ORDERS PM TO FACE CONTEMPT HEARING

Pakistan’s Supreme Court has ordered Prime Minister Yousuf Raza Gilani to face a contempt of court hearing this week, officials said, setting up a potential showdown between the nation’s judicial and political leaders, CNN reports.

LEBANON: FATAL BUILDING COLLAPSE IN BEIRUT

At least 25 people died when a five-storey building collapsed in the Lebanese capital Beirut.

Rescuers are continuing their search of the site in the Ashrafiyeh district for a further 16 people believed to be buried beneath the rubble, BBC reports.

ANALYSIS: LEAKS ON DELAYED U.S.-ISRAEL WAR-GAME REVEAL FISSURES

Because the decision to postpone the war games leaked first in Israel, plans for a joint statement didn’t materialize Sunday, and rumors subsequently abounded about what explained it. Was the United States distancing itself from Israel’s hawkish stance towards Iran, some Iran watchers wondered? Is it plausible that Israeli budget cuts could explain why the massive exercise–to involve thousands of American and Israeli troops–was being postponed from April until the second half of 2012–since it would seemingly cost just as much to conduct the drill a few months later? Laura Rozen (Yahoo!) writes.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.16.12 EDITION

Saudi Oil Refinery Deal Shows Close Ties: CHINA DAILY

1/16/12

In what Riyadh calls ”the largest expansion by any oil company in the world, Sinopec’s deal on Saturday with Saudi Aramco will allow a major oil refinery to become operation in the Red Sea port of Yanbu by 2014. ARAMCO CAPACITY TO GROW 8MBPD: Saudi Aramco will increase its refining capacity to 8 million barrels per day in the next decade through expansion both at home and abroad, its chief executive Khalid al-Falih said Saturday, Marketwatch reports. CHANGE IN POLICY BY CHINA: “Some experts find the trip notable for a different reason: It comes as China’s strategic alliance with Iran is less certain than before, the NYT reports.

Reformist Cleric Named to Enforce Saudi Morals: WALL STREET JOURNAL

1/14/12

Saudi Arabia’s king replaced the hard-line chief of the country’s morality police with a more liberal cleric who has encouraged greater women’s rights, a change welcomed by activists as a sign that the monarchy would continue to pursue cautious social reforms in the face of political upheaval in the Middle East.

Saudi Forces Clash With Protesters In Qatif: AL JAZEERA

1/13/12

Saudi security forces have clashed with protesters in the country’s Eastern Province, home to a large Shia minority, killing one person, the interior ministry and activists reported. SAUDI SECURITY MAN SHOT IN SHIITE AREA: Saudi Arabia said a member of its security forces was shot and injured on Saturday evening while patrolling in Eastern Province, home to its oil reserves and its Shi’ite Muslim minority, days after a protester was shot dead, Angus McDowall (Retuers) reports.

Hackers Disrupt Websites Of Israel’s Stock Exchange, National Air Carrier: WASHINGTON POST

1/16/12

A hacker network that claims to be based in Saudi Arabia paralyzed the websites of Israel’s stock exchange and national airline on Monday, escalating an international cyber war that has jolted this security-obsessed country.

Saudi 2011 Inflation At Lowest In 4 Years: GULF TIMES

Reuters | 1/16/12

Saudi Arabia’s inflation slowed to a four-year low of 5% on average last year despite record government spending, data showed yesterday.

15% Slide Expected In Expat Remittances: ARAB NEWS

1/15/12

Saudi economic experts have predicted a 15 percent decrease in the volume of money transferred by foreigners within the next six months following the ban on foreign salesmen in lingerie shops, Al-Eqtisadiah newspaper reported on Saturday.

Saudi, Spain Ink $8.22 Bn Deal For Pilgrim Railway: IC PUBLICATIONS

1/16/12

Saudi Arabia has inked an $8.22 billion (6.48 bn euros) deal with a Spanish consortium to build a high-speed railway on the Muslim pilgrim route between Mecca and Medina, the state news agency SPA reported Saturday.

Saudi Aviation Authority Said to Sell 15 Billion Riyal Debt: BUSINESSWEEK

1/16/12

Saudi Arabia’s General Authority of Civil Aviation raised 15 billion riyals ($4 billion) from the sale of Islamic bonds, said a banker familiar with the transaction.

Journey Of Faith: THE ECONOMIST

1/14/12

Mr MacGregor and Venetia Porter, the BM’s keeper of Islamic art, spoke to the chairman of the Saudi Commission for Tourism and Antiquities, Prince Sultan bin Salman (known locally as the “astronaut prince” for being the only Saudi to have travelled in space). They also met Princess Adila bint Abdullah, a daughter of the king and one of the few princesses with a public role in Saudi Arabia, and her husband, Prince Faisal bin Abdullah, the new minister of education. At each meeting they outlined in detail the BM’s ambition: to put on the West’s first big show about the haj, the annual holy pilgrimage to Mecca.

French, Saudi Warplanes Collide In Saudi: AFP

1/15/12

A French Mirage and a Saudi F-15 collided in the kingdom’s northern region of Tabuk without causing casualties, state news agency SPA quoted a military official as saying on Saturday.

Naif Approves Amendments To Citizenship Regulations: SAUDI GAZETTE

1/16/12

Crown Prince Naif Bin Abdul Aziz, Deputy Premier and Minister of Interior, has approved amendments to two articles of the executive regulations for Saudi Arabian nationality.

IRAN: EU WILL ADOPT OIL SANCTIONS

Britain’s foreign secretary said Sunday that European nations will intensify pressure on Iran over its nuclear program, but insisted the West wasn’t pressing for military action, AP reports.

ISRAEL-US WAR GAMES POSTPONED: The Israeli and U.S. militaries have postponed large-scale war games, in part to avoid aggravating mounting tensions between the international community and Iran over its disputed nuclear program, Israeli defense officials said Monday, CBS News reports.  REPUBLICAN CANDIDATE LAUDS MURDERS OF SCIENTISTS: “On occasion scientists working on the nuclear program in Iran turn up dead. I think that’s a wonderful thing, candidly,” said Rick Santorum at a recent campaign stop in Greenville, South Carolina.

But it isn’t just dead Iranian scientists that gladden Santorum’s heart. CAN US END THE STANDOFF? With continued pressure mounting, the idea of a negotiation between parties has yet to be fully considered. Ironically, it is exactly what needs to happen. Negotiation will yield a better result than the combative tactics that the U.S., EU, and the Iranians are currently pursuing, Ken Jensen (Forbes) writes.

SYRIA: QATAR CALLS FOR ARABS TO SEND IN TROOPS

The ruler of the Gulf state of Qatar has said Arab countries should send troops into Syria to stop government forces killing civilians there. Sheikh Hamad bin Khalifa Al Thani told US television channel CBS “some troops should go to stop the killing,” BBC reports. FEAR OF CIVIL WAR MOUNTS:  The failure of an Arab League mission to stanch violence in Syria, an international community with little leverage and a government as defiant as its opposition is in disarray have left Syria descending into a protracted, chaotic and perhaps unnegotiable conflict, Anthony Shadid (NYT) reports.

ISRAEL: SEISMIC RIFT OVER ROLE OF WOMEN

In the three months since the Israeli Health Ministry awarded a prize to a pediatrics professor for her book on hereditary diseases common to Jews, her experience at the awards ceremony has become a rallying cry, NYT reports.

TUNISIA: 1^ST ANNIVERSARY OF ARAB SPRING MARKED

Thousands of Tunisians marched in peaceful triumph Saturday to mark the one-year anniversary of the revolution that ended the dictatorship of Zine El Abidine Ben Ali— and sparked uprisings around the Arab world, AP reports.

ENERGY: WHY OIL PRICES WILL STAY HIGH

People drive less in the winter. The American economy is slow. The Euro Zone has stalled. China and India are slowing down. So demand for oil worldwide is low. So why is oil trading high at $113 a barrel, more than twice the price it was trading at five years ago when the global economy was booming? What in the world is going on?

There’s a school of thought that suggests the global economy is doing better than we think, Fareed Zakaria writes. SOLAR CAPACITY SURGES IN 2011: New solar capacity around the world increased 54 percent to about 28 gigawatts last year driven by record installations in Germany and Italy, Bloomberg New Energy Finance data shows.

IRAQ: DEADLY WEEKEND
A bomb in northern Iraq killed at least eight people on Monday morning, the latest in a string of sectarian-tinged attacks there since the last US troops withdrew from the country in December,

The blast struck a housing development for displaced Iraqis outside of the ethnically- and religiously-mixed city of Mosul. More than 140 people have died in attacks across Iraq since the last US forces left Iraq on Dec. 18, raising concerns that Iraq may be facing a sectarian conflict as Sunni insurgents challenge the Shiite-dominated government, CSM reports.

OPINION: FALSE FLAG STORY AND PROVOCATIONS

By now, I’m sure most readers of this blog are informed about Mark Perry’s blockbuster story Friday on foreignpolilcy.com that describes how Israeli Mossad agents posed as U.S. spies to recruit and use members of the Jundallah group to carry out what the State Department and others have called a campaign of terror against Iran focused in particular on the largely Sunni province of Sistan va Balochistan…I think that these two forms of terrorism — support for Jundallah and possibly other terrorist groups, and the assassination of scientists associated with Iran’s nuclear program — share the same goal. (Killing a handful of scientists will not stop Iran’s nuclear program, and Jundallah is essentially a ragtag group with no hope of seriously destabilizing the regime.) The primary aim of these programs, therefore, appears to be provocation, Jim Lobe (LobeLog) writes.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.13.12 EDITION

Business Forum: A Stable Global Financial System – Al Jasser: SUSRIS

1/10/12

At the Forum HE Mohammed al Jasser led a key panel titled, “Maintaining a Stable Global Financial System: Shared Responsibility,” and shared insights only possible from the vantage point of a Group of Twenty (G-20) member nation central bank chief. A week after the Atlanta Forum Dr. Al-Jasser was named by King Abdullah as the next Minister of Economy and Planning.  Governor Al-Jasser was introduced following remarks from Hutham Olayan, President and CEO, Olayan America, who set the scene for the panel discussion of the global financial system.

China’s Wen to Juggle Iran Oil Need With Saudi Ties on Persian Gulf Trip: BLOOMBERG

Glen Carey and Anthony DiPaola | 1/13/12

China’s Wen Jiabao must balance his country’s need for Iranian crude with its budding energy partnership with Saudi Arabia on his first visit to the Gulf kingdom, a U.S.-based specialist in Middle East security said.

Gulf Nations Aid U.S. Push to Choke off Iran Oil Sales: NEW YORK TIMES

Mark Landler and Clifford Krauss | 1/12/12

Pressure on Iran mounted on Thursday, with the United States saying it was determined to isolate the country’s central bank, and three of Iran’s largest oil customers — Japan, South Korea and China — getting assurances that Saudi Arabia and other Persian Gulf producers would help make up any gap in supplies if they curtailed oil purchases from Iran. Q AND A: IRAN SANCTIONS AND OIL MARKET IMPLICATIONS: With tensions escalating between Iran and the West as both the United States and Europe prepare to impose additional sanctions, Iranian threats to close the Strait of Hormuz have driven up oil prices and sent purchasers scurrying to find replacement barrels. What is the likelihood of Iran following through on the threat, and what are the implications for the oil market? CSIS writes.

Saudi Forces Shoot Dead Shiite Protester: AFP

1/13/12

Saudi security forces clashed with Shiite protesters in the kingdom’s oil-rich east killing one person and wounding three, the interior ministry and witnesses said Friday.

Israeli, Saudi Hackers in Confusing Credit Card Publishing War: WASHINGTON POST

Elizabeth Flock | 1/12/12

A hacker believed to be Saudi Arabian has retaliated against a hacker believed to be Israeli who was retaliating against the same Saudi one. So many credit card details have now been illegally hacked and published it’s hard to keep track.

Al Arabiya Inquiry Reveals How Tunisia’s Ben Ali Escaped To Saudi Arabia: AL ARABIYA

1/13/12

The story takes place in Tunis, the capital, and in many other Tunisian cities but its events mainly occur in the authority’s decision making headquarters: the Presidential Palace in Carthage, the former president’s residence in Sidi Bou Said, the Ministry of the Interior, the Ministry of Defense, al-Habib Bourkiba avenue in the Capital, the Tunis-Carthage International Airport and the military barracks of Ouainia where is located the military airbase and the governmental palace in El Kasba.

British Premier Visits Kingdom Today To Bolster Bilateral Ties: ARAB NEWS

1/13/12

Custodian of the Two Holy Mosques King Abdullah will hold talks on key bilateral and regional issues with British Prime Minister David Cameron, who is scheduled to arrive in the Saudi capital on Friday. The focus of Cameron’s visit will also be on reinforcing the Saudi-British partnership for attaining the goals of accelerated business ties and exploring new areas of cooperation in different sectors.

Saudi Arabia to Launch Weather Channel: RAPIDTVNEWS

1/12/12

A weather forecast channel is to be launched by Saudi Arabia’s Presidency of Meteorology and Environment (PME) to promote environmental awareness and help the public tackle flash floods and other natural disasters.

City Streets A Haven For Mentally Ill People: ARAB NEWS

Badea Abu Al-Naja | 1/6/12

An increasing number of people with severe psychiatric illnesses and abandoned elderly have made the streets of the holy city of Makkah their habitat. While citizens cry out to express their dismay, authorities remain silent.

IRAN: US TELLS IRAN THAT CLOSING STRAIT IS A RED LINE

The Obama administration is relying on a secret channel of communication to warn Iran’s supreme leader, Ayatollah Ali Khamenei, that closing the Strait of Hormuz is a “red line” that would provoke an American response, according to United States government officials, the NYT reports.  EU OIL EMBARGO LIKELY DELAYED 6 MONTHS: A European Union embargo on imports of Iranian (OPCRIRAN) oil will probably be delayed for six months to let countries such as Greece, Italy and Spain find alternative supplies, two EU officials with knowledge of the talks said, Bloomberg reports.  The embargo, which would need to be accepted by the 27- nation bloc’s foreign ministers on Jan. 23, is also likely to include an exemption for Italy, so crude can be sold to pay off debts to Rome-based Eni SpA (ENI), Italy’s largest oil company, according to the officials, who declined to be identified because the talks are private. IRAN CLERICS URGE UNITY AS NUCLEAR SCIENTIST BURIED: The Tehran funeral on Friday of a nuclear scientist blown up by a hitman saw the ruling clergy urge Iranians to rally behind it at a forthcoming election and face down Western threats against Iran’s nuclear program, Reuters reports. IRANIANS JEER US, ISRAEL: Thousands of mourners chanted “Death to Israel” and “Death to America” on Friday during the funeral of a slain nuclear expert whom Iranian officials accuse the two nations of killing in a bomb blast this week as part of a secret operation to stop Iran’s nuclear program, USA Today reports.

SYRIA: ACTIVISTS CALL FOR NATIONWIDE RALLIES

Syrian activists are calling for nationwide protests Friday in support of the armed rebel group, the Free Syrian Army. The calls came a day after opposition leader Burhan Ghalioun met with the leader of the rebels, Colonel Riad al-Assad. Reports say the two leaders discussed the situation on the ground and the needs of the group, made up of army defectors, VOA reports. PARIS PROSECUTOR PROBES DEATH OF REPORTER: Paris prosecutors said Friday they have launched a preliminary murder investigation over the death of a French TV journalist in Syria, with his network raising questions about a suspect military escort, AP reports.

ISRAEL/PALESTINE: LEADERS STICK WITH DEADLINE FOR TALKS

Palestinian negotiators are sticking to an end of January deadline in talks with Israel despite U.S. calls for flexibility, a Palestinian official said Friday. The Palestinians say they want to hold Israel to a schedule that might pressure it to come forward with proposals, but the tight time frame could prevent the nascent talks from getting off the ground, Tia Goldenberg (AP) writes. HIGH COURT UPHOLDS CITIZENSHIP LAW: Israel’s Supreme Court has ruled that Palestinians will not be able to acquire Israeli citizenship through marriage, LAT reports.

THAILAND: HEZBOLLAH MAN ARRESTED

Police in Thailand are questioning a suspected Hezbollah member, as the US embassy warned American nationals of the threat of a terrorist attack in the country, The Guardian reports.

ENERGY: Q AND A: FRACKING AND SEISMIC ACTIVITY

CSIS explores questions related to Hydraulic Fracturing, also known as “fracking,” and the implications of this new technology to change the energy landscape in the United States and beyond.

OPINION: TIME TO NEGOTIATE WITH THE TALIBAN

As American officials scramble to contain the fallout from an appalling video showing Marines urinating on dead Taliban fighters, news that the Obama administration is carrying out secret negotiations with the Taliban has barely registered on the American political landscape. The lack of interest in the talks – and public outrage at the video – reflects how little Americans apparently care about the conflict, despite its staggering human and fiscal cost, David Rhode (The Atlantic) writes.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.12.12 EDITION

Saudi Economy: Jadwa January 2012 Chartbook: SUSRIS

1/10/12

The Jadwa Investment firm in Riyadh produces the “Saudi Chartbook” as a quick, chart-based briefing on the key developments and trends in the Saudi economy and stock market for the previous month.

Saudi Binladen Group Wins Dismissal of Six 9/11 Lawsuits: BLOOMBERG BUSINESSWEEK

Patricia Hurtado | 1/11/12

Saudi Binladen Group, Saudi Arabia’s largest construction company which was co-founded by Osama Bin Laden’s father, won dismissal of lawsuits in which it was accused of supporting the 2001 terrorist attacks.

Saudi Spending Boom ‘Raises Inflation Risk’: TRADE ARABIA

1/11/12

Inflation is set to rise in Saudi Arabia this year as the government unleashes another bumper budget, but it is unlikely to spur the central bank into action unless bank lending or other domestic pressures surprise on the upside, say analysts.

World-Class Safety Measures Protect Saudi Banks From Fraud: Official: ARAB NEWS

Khalil Hanware | 1/12/12

Banks in Saudi Arabia apply the “most known and acceptable international security measures” to safeguard the transactions of credit card users and other account holders, a top official says.  Talat Hafiz, secretary-general of Media and Banking Awareness Committee of Saudi Banks, was reacting to recent reports that Israeli hackers had obtained credit card and bank account details of Saudi cardholders in retaliation for an alleged attack on Israeli credit card accounts. BATTLE ESCALATES BETWEEN HACKERS: A war of words and website hacks is escalating in Israel over the purported hack of credit card data by a hacker from Saudi Arabia, Information Week reports.

Saudi Arabia To Continue Fuel Donation To Yemen: GULF NEWS

1/12/12

Saudi Aram-co will continue to donate fuel to Yemen in February, industry sources said, as the company has been seeking to buy at least two cargoes of petrol with at least one to be delivered into Yemen.

The impoverished southern neighbour of Saudi Arabia is reliant on fuel imports from abroad and donations as its main refinery has been shut for almost two months after consecutive blasts on its oil pipeline halted the crude flow.

China Gets Cheaper Iran Oil as U.S. Pays Tab for Hormuz Patrols: BLOOMBERG

Indira A.R. Lakshmanan and Gopal Ratnam | 1/12/12

China stands to be the biggest beneficiary of U.S. and European plans for sanctions on Iran’s oil sales in an effort to pressure the regime to abandon its nuclear program.

Aramco Trading To Spur Global Petroleum Product Sales: ARAB NEWS

1/12/12

Aramco Trading, a wholly-owned company subsidiary, geared up and began commercial operations Jan. 1, 2012, as Saudi Aramco’s downstream investment portfolio expands in-Kingdom and overseas.  A statement on the company’s website said the new entity, formally established as Saudi Aramco Products Trading Company, will replace the Product Sales and Marketing Department (PSMD) in importing and exporting refined petroleum products, commonly known in the industry as “system balancing” of refined petroleum products.

GCC Plans $142bn in Road, Rail and Bridge Projects: ARAB NEWS

1/12/12

The GCC has US $142 billion worth of road and bridge projects underway, or in the planning stages, according to figures released by market analysts Ventures Middle East; Saudi Arabia accounts for a third of this amount.

Saudi’s First Solar Rooftop Plant For KAFD: CONSTRUCTION WEEK ONLINE

1/12/12

The first solar rooftop in Saudi Arabia is to be installed at Parcels 5.07 and 5.08 at the King Abdullah Financial District (KAFD). At close to 200kW, the solar plant will not only be the first, but also the largest, rooftop plant in Riyadh. In collaboration with local partner Modern Times Technical Systems (MTTS), Conergy will be installing over 800 Conergy PowerPlus 230M modules on 1.7km of Conergy SunTop III mounting systems over a surface of 1,300m2.

Saudi Arabia Steps In To Curb Dramatic Increase in Cement Price: STEEL GURU

1/12/12

Al Eqtisadiah business daily reported that the Ministry of Commerce and Industry has stepped in to curb dramatic increases in cement prices in the western region.

Saudi Arabia Prince-Owned Frankel Is Best Horse In The World: THE NATIONAL

Geoffery Riddle | 1/12/12

Frankel was officially declared the best horse in the world today when the World Thoroughbred Rankings were published.

The four-year-old colt, owned by Prince Khalid Abdullah of Saudi Arabia, was given a rating of 136, four pounds clear of Black Caviar, Australia’s unbeaten sprinter.

IRAN: NUCLEAR ARMS CHARGE AGAINST IRAN IS NO SLAM DUNK

It’s accepted that Iran at one time had a nuclear-weapons program. The country’s enormous investment in a secret underground uranium-enrichment complex in the city of Natanz is essentially proof of clandestine intentions. The military plutonium-production reactor in Arak is yet another indicator.

However, it must be remembered that in the 2007 National Intelligence Estimate, U.S. agencies concluded that Iran halted its nuclear-arms program in 2003 under international pressure….So the issue is not whether there is evidence of such a program, but whether there is evidence that it was restarted after being shut down in 2003. ANOTHER NUCLEAR SCIENTIST KILLED, IS THIS PART OF A ‘COVERT WAR’?: The Islamic Republic sought to portray the killing of Roshan as part of a broader clandestine effort to undermine the regime and its nuclear program, which Iran claims is aimed only at nuclear power production, not weapons. But some Iran experts say it is too early to make conclusions, Scott Peterson (CSM) writes. INDEPENDENT FILM GROUP SHUT DOWN: Brushing aside protests by Iranian filmmakers and rights activists, Iran’s Culture Ministry on Wednesday formally dissolved the House of Cinema, the only domestic organization that supports independent film, and moved to replace it with a committee that would not deviate from strict Islamic guidelines and politically permissible topics, Rick Gladstone and Artin Afkhami (NYT) report. WEBSITE LINKED TO REGIME SAYS RESPONSE WILL BE CROSS-BORDER: Iran’s response to the assassination of a nuclear scientist in Iran Wednesday will be harsh and reach beyond borders, a website aligned with the regime in Tehran quoted a senior security source as saying Thursday, JPOST reports.

SYRIA: SUSPECTED SYRIA MUNITIONS BOAT TO LEAVE CYPRUS

A ship reportedly carrying ammunition to Syria will be allowed to leave Cyprus after giving authorities assurances it will change its destination, a government official said Wednesday.  Media reports said the cargo ship was carrying up to 60 tonnes of ammunition and was heading to the Syrian port city of Latakia. It docked off Cyprus Tuesday amid rough seas. EXPAT ACTIVISTS RETURN TO BORDER: Syrian expatriates from Europe, North America and the Arab world set off from Turkey in a protest convoy on Thursday, headed for the Syrian border to draw attention to the plight of people in their strife-torn homeland, MSNBC reports.

PAKISTAN: US DRONE STRIKES AGAIN, IS PAKISTAN MILITART ANGLING FOR A FAVOR?

Does the resumption of US drone strikes inside Pakistan this week, after a hiatus of nearly two months, mean the two wary and fractious allies have mended fences? CSM reports. COUP FEARS RESURFACE: Pakistan army on Wednesday warned of “grievous consequences” over accusations by the country’s prime minister that the top military brass had violated the constitution. Yousaf Raza Gilani also sacked the defence secretary, considered close to the military, in an apparent tit-for-tat move that worsened ties between the wobbly civilian government of Asif Ali Zardari and the powerful military that has ruled Pakistan for more than half of its existence, Times of India writes.

AFGHANISTAN: KARZAI BLASTS VIDEO OF MARINES URINATING ON AFGHAN CORPSES

Afghan President Hamid Karzai on Thursday condemned as “completely inhumane” a video that purports to depict four U.S. Marines urinating on the corpses of Taliban fighters. Pentagon officials said commanders believe they have identified the men’s unit and that it is back in the United States, USA Today reports.

EGYPT: MILITARY LIKELY TO RETAIN SOME POLITICAL POWERS

Former President Jimmy Carter said Wednesday that after meeting with Egypt’s military rulers he doubted they would fully submit to the authority of the civilian democracy they had promised to install, David Kirkpatrick (NYT) reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.11.12 EDITION

Obama Meets Saudi Foreign Minister At White House: AFP

1/10/12

US President Barack Obama on Tuesday met Saudi Foreign Minister Saud Al-Faisal for talks, as the allies face a nuclear showdown with Iran, a political crisis in Yemen and other key issues.

“The President and Prince Saud affirmed the strong partnership between the United States and Saudi Arabia and discussed recent developments on key regional issues of mutual interest,” a White House statement said.

US House Leader Meets With Saudi Oil Minister: AP

1/11/12

The U.S. Congress’ House majority leader has met with Saudi Arabia’s oil minister, marking the latest stop by an official from a major oil importing nation to the OPEC kingpin since Iran threatened to shutter the vital Strait of Hormuz. A statement released Wednesday by the Saudi Oil Ministry says Ali Al-Naimi and Rep. Eric Cantor, R-Virginia, discussed the importance of coordination between oil exporters and importers to stabilize oil markets.

China’s Wen To Discuss Arab Spring With Leaders On Trip To Saudi Arabia, UAE And Qatar: WASHINGTON POST

1/11/12

China’s premier will discuss the Arab Spring with leaders of Saudi Arabia, the United Arab Emirates and Qatar during a visit to those countries later this month, a Chinese official said Wednesday. Wen Jiabao’s visit from Jan. 14-19 will be the first by a Chinese premier to Saudi Arabia in 20 years and to the other two Gulf countries since diplomatic relations were established in the 1980s. CHINA DEFENDS IRAN OIL TRADE DESPITE U.S. PUSH: Lucy Hornby and Chris Buckley (Reuters) report that, “China gave no hint on Wednesday of giving ground to U.S. demands to curb Iran’s oil revenues, rejecting Washington’s sanctions on Tehran as overstepping even as Treasury Secretary Timothy Geithner lobbied for Beijing’s support. Geithner met Chinese Premier Wen Jiabao on Wednesday, before Wen’s trip starting on Saturday to top oil supplier Saudi Arabia, whose output could be important if China turns elsewhere for crude it would otherwise buy from Iran.”

Business Forum: Education – Investing in Human Capital: Prince Faisal: SUSRIS

1/9/12

The Saudi delegation also included among the leadership HH Prince Faisal Bin Abdullah Al-Saud, Minister of Education who provided an overview of the Kingdom’s education efforts in the first plenary session. Saudi Arabia, as Commerce Minister Alireza told the Forum, is “a knowledge-based economy, [where] what you earn depends on what you learn. The real wealth of any nation is its people. And Saudi Arabia is proud to be investing in this asset.” Today we are pleased to bring you the remarks of Minister of Education, Prince Faisal, with his introduction by moderator Steve Clemons, of the New America Foundation.

E-Commerce Lures Mideast Shoppers: MEDIA LINE

1/10/12

It’s not just Facebook and Twitter that have enjoyed surging on-line activity in the Middle East and North Africa (MENA) in the past year. E-commerce is growing, too, analysts say as more and more people in the Arab world use the Internet and take out credit cards.

Saudi Oil Output Nearing Capacity Limit: REUTERS

1/10/12

Top oil exporter Saudi Arabia is nearing its comfortable operational production limits and may struggle to do much to make up for shortages that arise from new sanctions imposed on Iran by the West, Gulf-based sources said. ARAMCO STARTS OIL PRODUCTS TRADING FIRM: A new Saudi Aramco subsidiary for trading refined products started commercial operations on Jan. 1, the state oil giant said on Wednesday. Saudi Aramco Products Trading Co (Aramco Trading) will replace the Product Sales and Marketing Department (PSMD) in importing and exporting refined petroleum products, it said in a statement posted on its website, Reuters reports.

Shuaa to Expand Credit Finance Unit into Saudi Arabia: KIPP REPORT

1/11/12

Dubai-based investment bank Shuaa Capital is expanding its profitable credit finance business, Gulf Finance Corp (GFC), into Saudi Arabia and may offer a stake in the unit to new investors, is chief executive said.

“It is the only business that makes money,” CEO Michael Philipp said in an interview on Tuesday.

Report: Israeli Hacker Posts Info about Saudis and Others in Retaliatory Attack: WASHINGTON POST

AP | 1/11/12

An Israeli hacker has posted information online about hundreds of Saudis, Egyptians, Syrians and others — a new salvo in the cyber war launched by an alleged Saudi hacker who leaked details about thousands of Israelis last week, an Israeli newspaper reported Wednesday.

Slow Moe: Saudi Rapper With A Positive Message: ARAB NEWS

1/10/12

Better try while you’re still alive, because there ain’t no second try,” says Moe Mohalhel, aka Slow Moe. He comes alive in his rap and play on words as he tries to engage the meaning and impact of religion in our daily lives. Blending his own style with his endeavor to leave a message behind, Slow Moe takes pride in being a Saudi who raps for a social cause. “I am the first Saudi rapper who raps in English. I am the first Saudi who actually reached out to the world with deep words like in my first official track ‘Arab Pride,’” he told Arab News.

Saudi Arabia’s New Generation Visits Ankara: TODAY’S ZAMAN

Hasan Kanbolat | 1/10/12

Saudi Arabian Prince Abdul-Aziz bin Talal bin Abdul-Aziz Al Saud made an official visit to Ankara on Monday. This isn’t the first time that Ankara has hosted a Saudi prince. This trip was particularly significant as, unlike previous visits, its purpose was not a routine official engagement or vacation. Moreover, he visited Ankara, not Istanbul.

Al Harthy’s Saudi Challenge: THE WEEK

1/11/12

Oman’s driving sensation Ahmad al Harthy will be looking to get his season back on track at the Porsche GT3 Cup Challenge Middle East when the race returns to Saudi Arabia next month, according to a press release.

SYRIA: PRESIDENT’S DENUNCIATION EXPOSES MIDEAST POWER STRUGGLE

Syrian President Bashar Assad’s condemnation of fellow Arab leaders exposes the power struggle running through a region where he, and his father before him, helped lead the cause of Arab nationalism. In his first address to his country since June, a defiant Assad vowed to crush a 10-month-old popular revolt against him. But he also raged at what he regards as the Arab League’s betrayal of Damascus, singling out the Persian Gulf nations that have risen in stature as traditional powers Syria and Egypt have faded, Jeffery Fleishman (LAT) writes.

FACT CHECKING THOMAS FRIEDMAN IN CAIRO: Because Mr. Friedman is enormously influential, with a cabinet full of Pulitzer prizes, it’s important to set the record straight when he gets some facts wrong – as he did in a speech Monday at the American University in Cairo (AUC), writes Dan Murphy (CSM).

IRAN: PUBLIC IRE ONE GOAL FOR IRAN SANCTIONS

The Obama administration sees economic sanctions against Iran as building public discontent that will help compel the government to abandon an alleged nuclear weapons program, according to a senior U.S. intelligence official, the Washington Post reports. NUCLEAR SCIENTIST KILLED IN CAR BOMB BLAST: A nuclear scientist was killed in a blast in a Tehran neighborhood Wednesday morning, an Iranian news agency reported, the latest in a string of attacks against such scientists that Iran has blamed on Israel, CNN reports. CHINA DEFENDS IRAN OIL TRADE DESPITE U.S. PUSH: China gave no hint on Wednesday of giving ground to U.S. demands to curb Iran’s oil revenues, rejecting Washington’s sanctions on Tehran as overstepping even as Treasury Secretary Timothy Geithner lobbied for Beijing’s support, Reuters reports.

PAKISTAN: DEFENSE MINISTER FIRED, ARMY WARNS OF TURMOIL

Pakistan’s government fired the defense secretary Wednesday and the army warned of “grievous consequences” for the country, escalating a political and legal crisis that some believe could end in the dismissal of government, AP reports. LULL IN DRONE STRIKES OVER: A two-month lull in drone strikes in Pakistan ended yesterday with a strike in North Waziristan. The temporary halt was widely believed to be an attempt by the US to prevent an irreparable break in an already fragile relationship after a mistaken US attack killed two dozen Pakistani soldiers – although it’s unclear whether ties have sufficiently mended, CSM reports.

UNITED STATES: HOW ROMNEY MIGHT ATTACK OBAMA ON FOREIGN POLICY

While the U.S. president is probably most vulnerable to attacks on his handling of the economy, foreign policy is sure to come up as well. But the Obama entering this race is a very different national security candidate from the man who ran against John McCain in 2008. Here are five key areas where Romney is likely to go after the president, Joshua E. Keating (FP) writes.

GITMO: CLOSURE HOPES FADE AS PRISON TURNS 10

Open for 10 years on Wednesday, the prison seems more established than ever. The deadline set by President Obama to close Guantanamo came and went two years ago. No detainee has left in a year because of restrictions on transfers, and indefinite military detention is now enshrined in U.S. law, CBS reports.

/The daily news is provided as a service of the Saudi-US Trade Group, Washington, DC. Visit www.SUSTG.org for more information and to get a free email subscription to the News Review./</h4></div>

Editor’s Note:

The recent U.S.-Saudi Business Opportunities Forum provided exposure of the commercial openings in the Kingdom to American business people, especially those in Georgia and in particular Atlanta. Today we are pleased to bring you reflections on the forum provided by Dr. C. G. Alexandrides, Georgia State University, Professor Emeritus of Management. We thank him for permission to share his article, which appeared January 6, 2012 in Global Atlanta, with you today.

***

Saudi Arabia Not Just for Multinationals
C. G. Alexandrides

A guest review of the U.S.-Saudi Business Opportunities Forum held in Atlanta in December

American companies should always be open to new global markets and new overseas business alliances. but many companies miss opportunities because they do not have access to decision makers in foreign markets. A rare chance to meet a large group of decision makers in person came at the U.S.-Saudi Business Opportunities Forum. At the conclusion of the second annual forum, held in December 2011 in Atlanta, Omar Bahlaiwa, Secretary General of the Committee for International Trade (CIT) of the Saudi Chambers of Commerce, called the event a “great success.”

In spite of time constraints, the presence of 1,200 participants, including 300 top-ranking Saudis led by Prince Faisal bin Abdullah Al-Saud, motivated U.S. companies to seek out more business opportunities in the kingdom. The prince made it very clear that while there are many large-scale partnerships already in place, small- to medium-sized companies need to be encouraged to look for opportunities as well.

The objective of the Saudis is to generate business between the U.S. and Saudi Arabia in the amount of $1 trillion in the next five years.  As confirmation of Saudi intentions, Atlanta-based GE Energy announced on the day of the opening of the forum the signing of a $300 million contract with the Saudi Electricity Company for 13 new gas turbines and service. GE Energy has supplied Saudi Arabia with 200 gas turbines in the last five years.  Al Saleh Al Barrak, President and CEO of Saudi Electricity, was among the Saudi participants.

The Saudis were impressed with Atlanta’s welcome and Georgia’s hospitality. Mayor Kasim Reed set the tone with his welcome address and reception at City Hall and made friends, which is important in Saudi business.  Governor Nathan Deal and representatives of the U.S. government from the State Department and the Commerce Department extended their welcome and pledged their cooperation for the success of the Forum, including former Atlanta City Council President and U.S. Senator Wyche Fowler. Mr. Fowler served as ambassador to Saudi Arabia during the Clinton administration. Prince Faisal has had a special friendship with him over the past 35 years.  Participants came also from many U.S. states, our neighbors Canada and Mexico, and countries of the European Union, China, Japan and Korea.

The Atlanta forum benefited from the experience of the first forum held in Chicago in April 2010, which attracted 1,100 participants.  That Chicago forum resulted in more than 100 contracts for U.S. companies doing business in Saudi Arabia. The Atlanta forum is expected to exceed that number of deals because of its even greater number of participants. Many of Atlanta’s Fortune 500 companies including Lockheed Martin Corp., Coca-Cola Co., GE Energy, Delta Air Lines Inc. and United Parcel Service Inc., have long-established strategic partnerships with Saudi companies and government agencies.

The Saudi government was interested in bringing U.S. expertise and technology to Saudi Arabia through joint ventures, while the U.S. government was interested in expanding exports to Saudi Arabia and Saudi investments in the U.S.  The fields of interest of the Saudis are green energy (solar and wind), water purification (desalinization), information technology, education (all levels), public health, transportation and infrastructure. The forum was also designed to show U.S. companies how to do business in Saudi Arabia and for Saudi companies to understand how US companies operate.

Prince Faisal bin Abdullah Al-Saud, Minister of Education, spoke of the vision to transform the Saudi educational system into a world-class system.  He outlined educational reforms, which are now being introduced such as the goal of teaching English beginning in the fourth grade, more autonomy in the selection of curriculum and institution of standards for public and private schools.  ”One of the main strengths of the country is to rely heavily on women,” he said, noting that in spite of the constraints of a woman’s traditional role, Saudi women are now advancing in engineering, science and technology and are encouraged to study abroad.  According to the minister, a national scholarship fund is making it possible for more than 130,000 Saudi students to study abroad, including 47,000 in the U.S.

The U.S. ambassador to Saudi Arabia, James Smith, a native of Georgia, compared the journey toward equal access for women there to the struggles of African-Americans under segregation in the South.  He noted that 60 percent of university graduates in Saudi Arabia are now women, adding that the government is encouraging women to develop their skills to fill the requirements of a growing and fast­ changing Saudi economy.  As an example, the prince stated that the Princess Nora bin Abdulrahman University is the largest all-female institution in the world. He added that women will be allowed to run and participate in local elections in 2015.

The educational and social benefits of the forum were covered by the presentations and panel discussions including the question-and-answer periods.  The forum published a directory of the Saudi members with brief profiles and coordinates to facilitate matchmaking and follow-up.

In Saudi Arabia the follow-up is done by the parties concerned and not by government intermediaries. The American companies should contact the organizing members of the forum for assistance in contacting the interested Saudi companies.  Local universities, law firms, public accounting firms and consultants with experience in Saudi Arabia can be good sources of assistance.

There is interest on the Saudi’s part to return to Atlanta in April 2012 for facilitating company contacts.  The third annual U.S.-Saudi Business Opportunities Forum will be held in California in 2013 to continue the process of generating business toward the goal of $1 trillion.

***

DR. COSTAS G. ALEXANDRIDES

Dr. Alexandrides is Professor Emeritus of Management at Georgia State University and President of the International Market Information System Inc. (IMIS). He has served as Visiting Professor of Management and International Business at the University of Missouri at Kansas City, where he led the Executive MBA class on a China Interim Study. He has also taught at New York University, the University of Georgia, Pepperdine University and City University of New York (Baruch). He established the International Business Academy in Atlanta under the sponsorship of GSU, Georgia Tech and the World Trade Center. He is a member of various committees of the World Trade Centers Association in New York. He has published books and articles on international business.

Dr. Alexandrides served as an economic development officer of the United Nations in Korea and New York. He also served as adviser of the Cyprus Mission to the U.N. Under contract, he assisted the export expansion programs of the U.S. Department of Commerce, Greece, Japan and China. He has also consulted with leading international companies including Coca-Cola, BellSouth, Litton, Nissho Iwai, ARCAPITA, Sheraton and Westinghouse.

Dr. Alexandrides has received many awards including NYU’s Founders Day Award and recognition from SUCCESS Magazine. The contribution of IMIS was recognized in the President’s award of the E Star Award to Georgia State University.

C.G. Alexandrides, Ph.D.
Professor Emeritus of Management
Georgia State University
Atlanta, GA 30303
Call 770-846-1498
E-mail: c.alexandrides@att.net

***

Related Material:

• US-Saudi Business Opportunities Forum – Atlanta 2011 – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Chicago 2010 – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Chicago 2010 – SUSRIStube Videos

Editor’s Note:

The US-Saudi Business Opportunities Forum (Dec 5-7, Atlanta) was an incomparable gathering of top level Saudi Arabian government and business leaders who shared their knowledge of myriad areas of interest bearing on commercial openings for American businessmen in the Kingdom. The Forum, sponsored by the Saudi Arabian Ministry of Commerce and Industry, was organized by the Committee for International Trade (CIT); the US-Saudi Arabian Business Council; and the Saudi-US Trade Group (SUSTG). It featured an extremely rich assembly of senior government officials, business people and more and their American counterparts. Among those who participated form the Kingdom were three serving ministers in the Government plus the Governor of SAMA, the central bank and dozens of other senior officials — all who provided the most complete and authoritative reviews of their respective areas of responsibility in keynote remarks and panel discussions. The Saudi delegation included, among the leadership, the Governor of the Saudi Arabian Monetary Agency (SAMA) Dr. Muhammad Al-Jasser. At the Forum he led a key panel titled, “Maintaining a Stable Global Financial System: Shared Responsibility,” and shared insights only possible from the vantage point of a Group of Twenty (G-20) member nation central bank chief. A week after the Atlanta Forum Dr. Al-Jasser was named by King Abdullah as the next Minister of Economy and Planning.  Governor Al-Jasser was introduced following remarks from Hutham Olayan, President and CEO, Olayan America, who set the scene for the panel discussion of the global financial system.

SUSRIS is pleased to share Dr. Al-Jasser’s remarks from the US-Saudi Business Opportunities Forum with you, along with many other important products from the Forum: articles, transcripts, slide presentations, videos and more. You can check the links below for more information and we suggest you visit the SUSRIS Special Section – US-Saudi Business Opportunities Forum 2011.

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H.E. Dr. Muhammad Al-Jasser, Governor, Saudi Arabian Monetary Agency
Maintaining a Stable Global Financial System: Shared Responsibility
U.S.-Saudi Business Opportunities Forum
Atlanta, Georgia
December 6, 2011

Hutham Olayan, President & CEO, Olayan America

[Hutham Olayan] I’m pleased to welcome you to what I believe will be a very informative and exciting panel discussion. Our topic today is of monumental importance: the shared responsibility of maintaining a stable global financial system. As we have seen over the past three years, this has been a stormy period. This has not been easy. This week alone will witness a meeting of the ECB [European Central Bank] on Thursday [Dec 8, 2011] in preparation for the Euro Summit on Friday.

Yesterday [Dec 5, 2011] President Sarkozy and Chancellor Angela Merkel engaged in another round of discussions in hopes of narrowing their differences. Of course, the Euro Zone is the subject that we are all concerned about. Will Europe find a way out of this abyss, or will it witness the death of the dream of the European project? In fact, this reminds me of the famous Woody Allen line, “I’m not afraid of death, I just don’t want to be there when it happens.”

Clearly, Saudi Arabia and the United States have much to gain from an effective resolution of the ongoing threats to the global financial system, and much to lose from its deepening. Over the last 30 to 40 years, both nations have weathered numerous financial shocks.

Saudi Arabia learned a hard lesson early on, during the precipitous decline of the oil price in the 1980s, followed by years of deficit spending. It learned the value of holding significant reserves to offset decline in aggregate demand, and to support the financial system. Prudent macroeconomic policies today have left the Kingdom in a better shape on these fronts, and able to weather the storm.

Meantime, it’s an open question in this election year whether the United States will eventually be able to muster the political will to solve the long-term debt and dilemma, without derailing the still very fragile economic growth.

Saudi Arabia and the United States share common needs: the need to increase employment, particularly among the young; the need to invest in the infrastructure, both human and physical; and finally both nations share the need to provide social safety nets at an effective cost. The global crisis is really a crisis of confidence. Investors and regulators have lost confidence in the banks. Citizens have lost confidence in their governments. Markets now fear that the sovereign debt in many parts of the world is becoming an issue. Clearly, a well functioning global financial system is at the heart of all of these issues. We are fortunate today to have three distinguished panelists who can guide us through the various issues confronting the global financial system.

Our first panelist is his Excellency Dr. Mohammad Al-Jasser, Governor of the Saudi Arabian Monetary Agency, SAMA. Dr. Al-Jasser was appointed SAMA’s governor in 2009, after having served nearly fifteen years as Vice Governor and Vice Chairman of the Board. In 2010, he was also named the first chairman of the Gulf Monetary Council, which is tasked with creating a united central bank and common currency for the Gulf Cooperation Council. Dr. Al-Jasser will provide us with the view of a central banker, and he will share with us his thoughts on the challenges that the global economy faces. Thank you.

[Dr. Mohammad Al-Jasser] [Greetings in Arabic] Thank you, very much.

It gives me great pleasure to be back at this august gathering of businesspeople from both countries – Saudi Arabia and the United States of America. It is a great pleasure to be here again.

I have been asked to share my views on shared responsibility for maintaining a stable global financial system. I would like to focus first on policy challenges, regulatory reforms, and the issues of the reserve currency, and to briefly touch on the challenge the Euro Zone poses at this moment. Finally, I will conclude with our experience in preserving financial stability in Saudi Arabia, or what I call, “safeguarding the home front.”

It is well known that the global financial system was shaped by the developed market economies in the post World War II period, at the time when emerging market economies were not that significant. The recent global credit crisis had its origins in the advanced economies, and consequently has affected the emerging market economies particularly as global leaders withdrew their funding in order to take care of their requirements at home.

Let me highlight macroeconomic policy challenges. The latest IMF Global Financial Stability Report states the risks to stability have grown for the first time since October 2008, so now we’re going into another crisis after 2008. Both the developed market economies and the emerging market economies have problems, but they are not the same, and the contrast is ultimately due to different levels of indebtedness and a different approach to counter-cyclical debt management.

H.E. Dr. Muhammad Al-Jasser, Governor, Saudi Arabian Monetary Agency

The developed market economies ran primary budget deficits during the boom years before the crisis, when they should have been paying down their debts. Their flawed macroeconomic policy was matched by lapses in financial regulation, with the so-called “light touch regulation.” This allowed banks to increase their leverage while an unregulated or lightly regulated shadow banking system mushroomed. Meanwhile, consumers were encouraged to take on excessive debt, particularly housing debt. The end result is that there are high levels of debt in the developed market economies, and many financial institutions have become vulnerable.

Meanwhile, significant expansionary policies, including liquidity support for banks, were put in place while credit ratings of developed market economies were being cut. However, the developed market economies need to shift away from short term and ad hoc measures to support markets and the economy, and move towards a long-term plan to reduce government debt to GDP and cut leverage in the financial system. Only in this way can fiscal sustainability be restored before the demographic wave of aging populations become a more serious fiscal challenge.

In emerging market economies by contrast, fiscal and monetary policies have been on the whole more prudent, but now the need is to prevent overheating of the financial system from damaging the real economy. Credit flows from the developed market economies have been, to say the least, a roller coaster ride for many emerging market economies over the last few years. In the MENA region, our region for example, commercial bank lending from the outside was about $144 billion in 2007, but by 2009, it was negative as funds were withdrawn. This year it is expected to be just about $3 billion.

The first stage in the roller coaster ride was when the crisis broke out. Global banks withdrew their credit lines for local banks in the emerging market economies, and this transmitted the crisis around the world. As emerging market economies tried to shield their growth from the contagion flowing from the developed market economies, one consequence was rapid credit growth. For example, Chinese credit growth was over 50 percent in 2009-2010.

In the second stage, bank lending and portfolio equity flows from the developed market economies flowed again into the emerging market economies as interest rates were cut to near zero in the major economies. So emerging market economies were coping with credit growth locally and flow from abroad that can overwhelm the capacity of local markets to absorb them. Authorities used quantitative measures to mop up excess liquidity through, for example, raising reserve requirements or capital controls of some kind. Now economic prospects have deteriorated in developed market economies once more, and banks and investors are withdrawing liquidity again. The result is that emerging market economy currencies are weakening – as in Brazil, and South Africa, and India – and emerging market economies’ stock markets were trending down.

The most important thing that the developed market economies can do to support the global financial system is to provide a stable fiscal and monetary environment, and prevent the violent shifts in global liquidity conditions that can overwhelm policymaking in the emerging market economies.

One final note or thought to leave with you, this crisis of 2008 and now would not be in vain if, for example, the Chinese rebalance internally their economy where domestic demand and consumption rise and savings decline, and the U.S. and Europe rebalance towards more fiscal prudence and higher saving rates, particularly in the United States.

Let me talk about regulatory reforms. The pre-crisis monetary stability was paradoxically the harbinger of financial instability as it encouraged banks to increase leverage and behave imprudently. Weak financial regulation in the major economies was in my view the single most important cause of the global financial crisis. The banks persuaded regulators that only a light touch approach was needed, and national regulators competed with each other in a race to the bottom in weak oversight to attract financial business. Regulation was in some places separated from the central bank, and the result was suboptimal.

Emerging market economies did not have the same problems, because by and large they kept to a conservative, unified form of regulation. Now, there is growing pressure from bankers and politicians in developed market economies to delay the implementation of Basel III, because they claim it will lead banks to reduce the supply of credit. But the Basel III requirements for more and higher quality capital and tighter liquidity rules are crucial to building a more robust global financial system and avoiding regulatory arbitrage, for example, ensuring a level playing field and a race to the top. Banks will try to minimize the impact on their profits by moving business to tax havens or less heavily regulated jurisdictions.

The Financial Stability Board, or the FSB, has a clear mandate to increase the international coordination among policymakers, financial regulators, supervisors, and standard setters. Central Bank cooperation and timely implementation of Basel III will test our shared responsibility for the international monetary system. Indeed, within Europe there is still debate about how much power Brussels should have, and how much should remain with the national regulators, such as the Bank of England. My own view is that it is better to have national central banks in charge of commercial bank regulation. Meanwhile, SAMA fully intends to implement Basel III requirements on schedule.

Let me say something about reserve currency issues. My third topic for discussion is the future of the reserve currency. After World War II, the international monetary system was built around a single currency, the dollar, or what was called the dollar standard. It does three jobs – any reserve currency has to do three jobs. One, acts as a pricing numeraire for commodities such as oil, facilitates payments, and also serves as a store of value due to the unequaled, unparalleled U.S. market depth, liquidity, and variety of assets. Those were the attributes that made the dollar the ultimate reserve currency. Some protagonists and commentators want to change the system. I agree that the international monetary system must evolve to accommodate more than one global reserve currency and numeraire, but this challenge is in my view not properly understood.

Let me start with a basic economic statement. The world needs a growing supply of liquidity to match the growth of the global economy and trade, because without it, the global price level would fall. That’s actually what happened with gold during the gold standard. This liquidity today comes from the U.S. current account deficit. Running a current account surplus as China, for instance, does means you don’t supply liquidity outside your economy – in fact, you build up foreign exchange reserves and withdraw liquidity. The benefit for the U.S. is that because of world demand for dollars it can run lower interest rates and a wider budget deficit than would otherwise be possible, and sometimes even prudent. In other words, the dollar has an exorbitant privilege. Giscard d’Estaing used that term in the ‘70s. But there is a duty attached to the reserve currency to go with that privilege – i.e. maintaining confidence in the reserve currency, in this case the dollar.

Lately, there have been calls to artificially expand liquidity through the SDR, or the Special Drawing Rights of the IMF to expand the list of reserve currencies. But the SDR is not a currency; it is an artificial reserve asset. At best, the SDR could be an add-on to reserve currencies. It does not intrinsically provide a store of value. Alternative currencies are not obvious, as neither Europe nor Japan run the large deficits required to supply extra liquidity to the international monetary system, and the Euro Zone is facing its own major crisis.

The best approach is not to force the pace of change on such a vital issue. Let the markets themselves decide on whether alternative reserve currencies are worth using and holding. This will encourage China to liberalize its external capital account, and will force U.S. policymakers to improve their policy mix for fear of losing the dollar’s privilege as the prime reserve currency.

On the Euro Zone. There is a brewing risk to the international monetary system as a result of the escalating sovereign debt crisis in Europe. One area of concern is the concept of zero risk weighting for sovereign debt, which is embedded in the banking system, for example for collateral. If banks started to risk weighed sovereign debt, they would have to hold more capital and raise borrowing costs for developed market economies’ sovereigns.

My second concern is that structure reform policies in the Euro Zone may not have time to work. Policymakers may force further austerity, and make the prospects of robust growth a more distant one. Bailouts of banks and sovereigns in Europe could draw on the IMF, but this would be difficult for emerging markets to accept given the wealth of Europe. The ECB is treading a fine line by supporting troubled banks by not buying large amounts of sovereign debt, and we must hope the crisis is satisfactorily resolved.

The markets are jittery, and the political machinations of agreeing what needs to be done is at a very, very sensitive stage. Everybody’s waiting for December 9th, and I wish them all the luck. Currently, the Euro Zone crisis is a headwind for the global economy, and so it needs to be resolved promptly to avoid contagion and growth stagnation. The ECB’s role is critical in the short run as austerity measures take time to work. The long run solution is to amend the European treaties to bind the members to ceilings on debt and borrowing, as was envisioned when the Euro was born.

Finally, the sovereign debt crisis in some of the Euro Zone countries is a wake up call for prudent fiscal management in all countries to avoid having to take emergency measures at a significant financial and social cost. The latest developments indicate that the scale of the crisis is bringing about cooperative measure to deal with it. The rate of interest in central banks’ dollar swap lines has been reduced by fifty basis points recently, and this should help ease the funding pressure for some Euro area banks. The ECB could step up its program of supporting bond markets if the prospects for sorting out the fiscal problem improves. This is all encouraging, but there are still lingering concerns in terms of adequacy of the EFSF resources, policy implementation, and short-term growth prospects in the Euro Zone due to fiscal austerity and the high cost of debt servicing.

Let me brief you on our – Saudi Arabia – on our fiscal focus and approach to financial stability. We have for many years perused a counter-cyclical approach, i.e. paying down our government debt during the upswing of the cycle, and in our case the upswing cycle is higher oil revenues be it through prices or quantities, or both, and running budget deficits during the downswings in order to cushion the economy so it does not go into a tailspin as when oil prices sometimes do.

For example, between 1999 and 2007, government revenue mostly from oil rose from 30 of GDP to 70 of GDP, but government spending stayed at around 30-35 percent level. We use the upswing to run budget surpluses and prudently reduce our government debt to GDP from 100 percent to around seven percent now, and at the same time replenish our foreign exchange reserves. The result was that we were able to shirk the global recession of 2008-2009, and briefly run a budget deficit in 2009.

As for our regulatory framework, SAMA acts both as the central bank and commercial bank regulator. This gives us a better oversight over all aspects of the banking system. In fact, our policy of monetary tightening through policy rates, reserve requirements, and macro-prudential guidelines for bank credit during the period of 2005 until the emergence of the global crisis was very helpful in restraining the pace of credit growth. In the period leading up to the crisis working together with our banks, we made sure that they had minimal exposure to credit derivatives and maintained adequate loan loss reserves. The result was that when the crisis struck, and global banks withdrew their credit lines, the Saudi banking system proved to be fairly resilient.

It is quite obvious now that in a complex financial system it is rather unrealistic to expect that only one specific measure, such as risk-weighted capital ratio, could detect any risk of financial fragility. It is therefore imperative to broaden the scope of risk detectors through macro-prudential rules, for example, credit to GDP ratios, loan to value ratios, dynamic provisioning, etcetera.

Our approach to banking regulation seeks to apply counter-cyclical micro and macro prudential measures, and requiring the banking system to hold more capital on average will not improve the resilience of the financial system as a whole unless there is also a better match of risk taking to risk capacity. Our banking sector is the least leveraged in the region, and we are not complacent about the resiliency of our system. Indeed, we are very much in favor of conducting periodic stress tests to insure that they remain in good health. In short, our priorities are to maintain the Dollar-Riyal exchange rate stability, closely monitor credit growth, and insure that the banking system grows in tandem with nominal GDP.

We are well aware that we are not immune to global developments, as there will always be indirect impact and contagion winds. Of course, it goes without saying that Saudi oil policy has contributed immeasurably to global economic stability. Keeping a comfortable oil production spare capacity has dampened instability in oil as well as financial markets.

Let me conclude. It is in the interest of both developed market economies and emerging market economies to safeguard the openness of the global financial system. It has supported a huge wave of global growth and prosperity in the last 30 years. Indeed, much progress has been made in international cooperation since 2007. For instance, the IMF has set up more flexible loan facilities with less conditionality for economies in need. Central banks have also implemented swap lines. The Financial Stability Board has made much progress in a framework for regulating the systemically important financial institutions, SIFIs or GSIFIs as they are called these days.

The developed market economies bear a heavy burden to move away from their history of free floating their economies through debt and ad hoc measures. They need to reflect upon the lessons of the crisis and follow long-term policies consistent with financial stability. The policy shifts in the developed market economies, especially through quantitative easing and zero interest rates, have led to large shifts in global liquidity conditions, and have placed great stress in emerging market economies.

Government finances in developed market economies have been unbalanced for many years. Keynes would have been horrified to think that his vision of using government spending to stimulate the economy out of the 1930s type depression would lead to permanent budget deficits and debt to GDP levels that ran up in good years as well as bad until they have reach unsustainable heights. Keynes’ thought that a budget deficit in one year would be balanced by a surplus in another year so that debt to GDP level stayed stable over time. That is the counter-cyclical policy for the long run that Saudi Arabia has been following. The political pressure on policymakers has prevented this happening in developed market economies. There are still many commentators who push for even more deficit spending to restore growth, but for global stability it is more important that developed market economies convince the markets they have a long-term plan to fix their finances.

That is the single biggest contribution they can make to preserving the stability of the global financial system. Failures of banking regulations were at the heart of the crisis. Micro-prudential regulation needs to be augmented with macro-prudential measures to protect financial institutions from systemic risks. Crisis may not be avoided, but they could be fewer and milder through better regulation.

Thank you very much for your attention.

***

H.E. Dr. Muhammad Al-Jasser, Governor, Saudi Arabian Monetary Agency

H.E. Dr. Muhammad Sulaiman Al-Jasser

[Note: Dr. Al-Jasser was announced as the new Minister of Economy and Planning on December 13, 2011.]

BIO FROM US-SAUDI BUSINESS OPPORTUNITY FORUM [Dec 5-7]:

Dr. Muhammad Sulaiman Al-Jasser was appointed Governor of the Saudi Arabian Monetary Agency (SAMA) in February 2009. He joined SAMA as Vice Governor in 1995. His previous positions included Acting Deputy Minister of Finance for Budget and Organization as well as Executive Director for Saudi Arabia at the International Monetary Fund.

Dr. Al-Jasser was awarded the King Abdulaziz Medal of the First Order. He also received the Euromoney (Emerging Markets) Award for Central Bank Governor MENA Region for the Year 2009, Arab Bankers Association of North America (ABANA) Achievement Award for 2010, and the ‘The Banker’ Award Central Bank Governor of the Year for the Middle East for 2011

Dr. Al-Jasser has been and is still involved as Chairman and Member of the Board/Council in various organizations and projects. They include the GCC Monetary Council, the Supreme Economic Council, the Public Investment Fund, the Group of Trustees of the Principles for Stable Capital Flows and Fair Debt Restructuring in Emerging Markets, the Plenary of the Financial Stability Board for Saudi Arabia, the Governing Body of the Basel Committee on Banking Supervision, the Council of the Islamic Financial Services, the Higher Committee of King Saud University Endowment, the Fund for Supporting Research and Educational Programs at King Fahd University of Petroleum and Minerals, Saudi Telecom Company, the Centennial Fund, the Saudi Arabian Negotiation Team on the Accession of Saudi Arabia to the World Trade Organization, The Arab Investment Company, the Saudi Arabian Mining Company, the “Technical Saudi Negotiating Team” for negotiations with “International Oil Companies,” the Saudi Public Pension Agency, Saudi Arabian Airlines, the Eisenhower Fellowships Nominating Committee for Saudi Arabia, and the Consultative Council of Islamic Corporation for the Development of the Private Sector. In addition, Dr. Al-Jasser served as Alternate Governor for the Islamic Development Bank, the International Monetary Fund, and the World Bank Group.

Dr. Al-Jasser received his Bachelor of Arts in Economics with honors from San Diego State University in 1979, his Master of Arts in Economics from the University of California in 1981, and his PhD in Economics from the University of California in 1986.

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Related Material:

• US-Saudi Business Opportunities Forum – Atlanta 2011 – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Chicago 2010 – SUSRIS Special Section
• US-Saudi Business Opportunities Forum – Chicago 2010 – SUSRIStube Videos
• The “Robust” Saudi Banking Sector: A Conversation with Khaled AlKhattaf – SUSRIS – Oct 20, 2011
• Saudi Central Bank Chief Interview – CNN/SUSRIStube – Feb 11, 2010
• Boosting Small and Medium Enterprises in Saudi Arabia – SUSRIS – Dec 4, 2010
• U.S.-Saudi Relations – Muhammad Al-Jasser (CIT/NAF Forum) – May 15, 2009

Editor’s Note:

The Jadwa Investment firm in Riyadh produces the “Saudi Chartbook” as a quick, chart-based briefing on the key developments and trends in the Saudi economy and stock market for the previous month. SUSRIS is pleased to provide the January 2012 Saudi Chartbook and a link to the complete report which is rich with illuminating charts and graphs.  We also commend to your attention the recently published “Saudi Economy in 2012” by Jadwa which provides an excellent survey of the overall economic and financial picture in the Kingdom.  Other reports are included among links below. SUSRIS thanks Jadwa Investment’s Chief Economist, Brad Bourland, and Head of Research, Paul Gamble, for providing these insightful products for your consideration.

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[Complete report with charts, graphs and tables at this link.]

Summary

Real economy: New data indicate that the economy slowed in November, in line with the norm around Eid al-Adha. In year-on-year terms growth remained strong, though consumer spending probably grew at its lowest rate since the bonus for public-sector workers.

Money supply: Money supply growth dipped in November. Total deposits continued to grow, with demand deposits accounting for an increasing share of the deposit base.

Banking indicators: Growth in bank lending to the private sector slowed in November, though in year-on-year terms it was at its highest since April 2009. With excess deposits large, there is plenty of scope for more lending. Higher lending has contributed to healthy growth in bank profits.

Inflation: Inflation was unchanged in November. A sharp slowdown in the prices of “other expenses and services” offset higher inflation across most other components of the cost of living index, though rental inflation stabilized after five successive months of increases.

Trade: Non-oil exports rose to an all-time high in October, with both petrochemicals and plastics hitting records. As imports also rose, the non-oil trade deficit worsened. The sustained growth in non-oil exports in recent years has not dented the non-oil trade balance.

Oil: Oil prices have jumped over the past few weeks owing to rising international tensions with Iran. New sanctions have been put in place and the EU is planning a ban on Iranian exports.

Click here for the original report with charts and graphs.

Exchange rates: The fall in the euro has picked up pace as concerns continue to mount about the region’s economy at the same time as data show that the US economy is strengthening.

Stock market: Rising oil prices, gains on global markets, an expansionary budget and expectations for solid fourth quarter earnings caused the TASI to post its the second best monthly performance for 2011 in December.

Sectoral performance: In a repeat of last year’s pattern, all 15 sectors posted positive gains in December. Among the best performers were sectors which should benefit from the high level of government spending announced in the budget.

Volumes: Volumes picked up in 2011 with turnover higher in every month compared to 2010.

Valuation: The price-to-earnings ratio of the TASI fell during 2011, but still looks fairly high compared to many other marke of the cost of living index rose, with rental inflation up for the fifth consecutive month.

[Complete report with charts, graphs and tables at this link.]

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About Jadwa Investment – Jadwa Investment is a Saudi Closed Joint Stock company operating under the supervision of the Saudi Arabian Capital Markets Authority (CMA). Under the CMA decision published on August 21, 2006, Jadwa was awarded a license to offer all types of investment services including dealing, managing, custody, arranging and advising. All investment services offered by Jadwa Investment are supervised by a Shariah Supervisory Board and are fully Shariah-compliant.

SUSRIS Reports on Economic Issues:

• The Saudi Economy in 2012 – SUSRIS – Dec 31, 2011
• US-SAUDI BUSINESS OPPORTUNITY FORUM SPECIAL SECTION – SUSRIS
• SUSRISTUBE CHANNEL – YouTube
• SUSRIS CHANNEL – Slide Share
• Saudi Arabia Inflation Report – October 2011 – Jadwa – SUSRIS – Dec 21, 2011
• Saudi Economy: Jadwa December 2011 Chartbook – SUSRIS – Dec 3, 2011
• Saudi Arabia Inflation Report – October 2011 – Jadwa – SUSRIS – Nov 22, 2011
• Monthly Bulletin – November 2011 – Jadwa Investment – SUSRIS – Nov 3, 2011
• Saudi Stock Market Listed Companies’ Foreign Earnings – SUSRIS – Nov 2, 2011
• Saudi Economy: Jadwa November 2011 Chartbook – SUSRIS – Nov 1, 2011
• Saudi Arabia Inflation Report – September 2011 – Jadwa – SUSRIS – Oct 20, 2011
• The “Robust” Saudi Banking Sector: A Conversation with Khaled AlKhattaf – SBRIS – Oct 20 2011
• Economic Projections – Jadwa – SUSRIS – Oct 16, 2011
• Saudi Arabia Inflation Report – August 2011 – Jadwa – SUSRIS – Sep 17, 2011
• Saudi Arabia: Continuing Prosperity – Prince Turki Al-Faisal – SUSRIS – Sep 12, 2011
• September Chartbook – Jadwa – SUSRIS – Sep 9, 2011
• Key Economic Developments – Jadwa – SUSRIS – Sep 3, 2011
• Monthly Bulletin – August 2011 – Jadwa – SUSRIS – Aug 24, 2011
• Saudi Arabia Inflation Report – July 2011 – Jadwa – SUSRIS – Aug 22, 2011
• Inflation Report – Second Quarter 2011 – Saudi Arabian Monetary Agency
• Saudi Economic Trends – Jadwa Chartbook – August 13, 2011
• Debt, Downgrade and Saudi Arabia – Jadwa – August 9, 2011
• The Saudi Stock Market and Ramadan – July 23, 2011
• Saudi Arabia Inflation Report – Jadwa – July 21, 2011
• Saudi Arabia Economics – June 2011 – BSF – July 21, 2011
• Saudi Economic Trends – Jadwa Chartbook – July 20, 2011
• Short Term Inflation Spike – SUSRIS – Jul 16, 2011
• Energy, Consumption Lift Saudi Q3 Business Confidence – Sfakianakis – SUSRIS – June 28, 2011
• Saudi Arabia Economics – SUSRIS – June 21, 2011
• Saudi Arabia Economics – SUSRIS – May20, 2011
• Real Estate Saudi Arabia – SUSRIS – May 12, 2011
• Saudi Arabia Monetary Indicators – April 2011 – SUSRIS – Apr 28, 2011
• Business Confidence Rides on $100 Plus Oil – SUSRIS – March 2011
• Economics Quarterly: To Spend or Not to Spend? – SUSRIS – March 2011
• Monthly Monetary Indicators – SUSRIS – March 2011
• Reaching Out Again: Financial Support Analyzed – BSF – Mar 23,2011
• Royal decrees, regional unrest and the economy – Jadwa – SUSRIS – Mar 23, 2011
• Saudi Arabia Economics – BSF – Mar 22, 2011
• Monthly Monetary Indicators – March 2011
• Emerging Markets: What is next for Saudi Arabia? – March 2011
• Employment Quandary: Urgency for Reform – SUSRIS – February 2011
• Saudi Arabia Monetary Indicators – SUSRIS – February 2011
• Uprising in Egypt and Financial Volatility – SUSRIS – January 31
• Saudi Arabia Economics – SUSRIS – January 2011
• Saudi Business Leaders Bullish in 2011, BSF Confidence Index Show- SUSRIS
• Why Are Economists Bullish on Saudi Arabia’s 2011 Economic Prospects – SUSRIS
• Saudi Arabia Monetary Indicators – January 2011 – SUSRIS
• Ready to Roll: 2011 Saudi Budget: Sfakianakis – SUSRIS – Dec 21, 2010
• Saudi 2011 Budget Reflects Solid Economy – SUSRISblog – Dec, 21, 2010
• Saudi Arabia Monetary Indicators – December 2010
• Saudi Arabia Economics – December 2010 – SUSRIS – Dec 7, 2010
• Saudi Monetary Indicators – November 2010 – SUSRIS – Nov 12, 2010
• Saudi Arabia Business Confidence Index – 2010Q4 – SUSRIS – Oct 19, 2010
• Saudi Arabia Economics – BSF – October 2010 – SUSRIS – Oct 11, 2010
• Jadwa Monthly Economic Bulletin – September 2010 – SUSRIS – Oct 9, 2010
• Saudi Monthly Monetary Indicators from BSF 10-06-10 – SUSRIS – Oct 7, 2010
• Saudi Monetary Indicators for August 2010 – SUSRIS – Sep 1, 2010
• Saudi Arabia Economics – August 2010 – SUSRIS – Aug 22, 2010
• August Bulletin – Jadwa Investment – SUSRIS – Aug 10, 2010
• Saudi Economic Trends – Jadwa Chartbook – August 2010 – SUSRIS – Jul 31, 2010
• Saudi Monetary Indicators for July 2010 – SUSRIS – Jul 7, 2010
• Saudi Monetary Indicators for June 2010 – SUSRIS – Jun 30, 2010
• Saudi Economic Trends – Jadwa Chartbook – June 2010 – SUSRIS – Jun 1, 2010
• Euro crisis and its impact on Saudi Arabia – Jadwa – SUSRIS – May 29, 2010
• Saudi Arabia Economics – May 2010 – SUSRIS – May 25, 2010
• Saudi Monetary Indicators for April 2010 – SUSRIS – May 25, 2010
• Vulnerability to European “Shockwaves” – Sfakianakis – SUSRIS – May 17, 2010
• Jadwa Investment May 2010 Bulletin – SUSRIS – May 17, 2010
• Greek Debt Crisis and the Kingdom – SUSRIS – May 11, 2010
• Jadwa Investment April 2010 Bulletin – SUSRIS – Apr 28, 2010
• U.S. Exports to Arab World Rebounding – SUSRIS – Apr 16, 2010
• Saudi Economic Trends – Jadwa Chartbook – April 2010
• Saudi Stock Market Report – Jadwa Investment – SUSRIS IOI – Mar 21, 2010
• Jadwa Chartbook – March 2010
• Jadwa Chartbook – February 2010

ARABIALINK Daily News – Excerpts from International Media Reports
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

1.10.12 EDITION

China Premier Wen to Visit Saudi Arabia, UAE, Qatar This Month: WALL STREET JOURNAL

1/10/12

Chinese Premier Wen Jiabao will visit Saudi Arabia, the United Arab Emirates and Qatar Jan. 14-19.Wen will meet with leaders from the three coun