News – 2012.05.14

Published: May 14, 2012

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

 

Saudi Economy to Expand 3.9% in 2012 on Non-Oil Sector, NCB Says

Saudi Arabia’s economy will expand 3.9 percent this year and growth will quicken to 4.4 percent in 2013, National Commercial Bank said. The government will have a fiscal surplus of 317.4 billion riyals ($84.6 billion), or 14 percent of gross domestic product, with an average crude oil price of …

Kingdom to invest SR500 billion in water, power projects

The power and water sectors are experiencing a massive boom in Saudi Arabia, said Deputy Minister for Water Affairs Mohammed Ibrahim Al-Saud. “The Kingdom is set to invest SR500 billion in these vital utility sectors in the next 10 years,” he said. Speaking at the opening of the 8th Water, …

Baseball and Saudi Economic Policy

Dr. Muhammad Al-Jasser, Minister of Economy and Planning, recently spoke to the Young Businessmen’s Committee of the Riyadh Chamber of Commerce and Industry. Though the setting would appear innocuous, Dr. Al-Jasser’s remarks were not. The theme was the

Saudi Perspective on the Middle East: Obaid

In this SUSRIS exclusive presentation, the “Saudi Perspective on the Middle East: The View from Riyadh” assessment provides: the background and context for Saudi diplomacy — assets and characteristics; economic and energy data; sources of regional instability; the “New Gulf Union”; profile of …

Gulf leaders to discuss EU-style union

The leaders of the Gulf Cooperation Council will hold a meeting Monday in Saudi Arabia to discuss transforming their six nations into a union, similar to the European Union. The idea of the GCC nations to integrate into one entity — and replace what exists now as simply a cooperative — was …

Gulf Arab states face obstacles to unity push

Gulf Arab leaders meeting on Monday will discuss closer union between their six states because of what they see as growing threats from Iran and al Qaeda after the Arab uprisings, but significant political obstacles loom. Some members of the Gulf Cooperation Council (GCC), which includes …

Seven years of prosperity and development

Saudi Arabia will mark the seventh anniversary of Custodian of the Two Holy Mosques King Abdullah’s accession to the Saudi throne on May 17 with a variety of programs highlighting the remarkable progress achieved by the Kingdom in education, health, industry, agriculture and other sectors under …

Bahrain, Saudis Set To Strengthen Ties

Saudi Arabia and the tiny, troubled kingdom of Bahrain are expected to push toward a broad security and economic union on Monday, an agreement that regional power Saudi Arabia hopes will spur a similar tightening of ties with other Gulf countries. Last December, Saudi King Abdullah, …

Muqtada Al-Sadr Resurgent, Key to Maliki’s Future

According to the Iraqi Constitution, the president of Iraq would need to submit a request to the parliament to withdraw confidence from the prime minister. An inquiry would follow, and then a motion to withdraw confidence would be requested by one-fifth (65) of the representatives. Confidence …

Iran, unable to sell oil, stores it on tankers

Increasingly hard-pressed to find buyers for its petroleum, Iran has been routinely switching off satellite tracking systems on its sea-bound oil tankers for more than a month, in what U.S. officials and industry analysts describe as a cat-and-mouse game with Western governments seeking to …

AP Exclusive: Drawing of structure said to shed light on Iran’s secret nuclear work

A drawing based on information from inside an Iranian military site shows an explosives containment chamber of the type needed for nuclear arms-related tests that U.N. inspectors suspect Tehran has conducted there. Iran denies such testing and has neither confirmed nor denied the existence of …

Phase one of King Abdullah Financial District 85% complete

More than half the projects at King Abdullah Financial District (KAFD) in Saudi Arabia are complete and the first phase of the development will be delivered by the end of this year, a senior executive at contracting firm Rayadah Investment Company (RIC) told Zawya. KAFD is one of the most …

Saudi king sacks adviser critical of gender mixing

Saudi King Abdullah on Friday sacked one of his advisers, an outspoken critic of the sexes mingling outside the home, something banned in the ultra-conservative kingdom. The state news agency SPA published the decree announcing the dismissal of Sheikh Abdelmohsen al-Obeikan, an adviser to the …

Opinion: OPEC’s Difficult Decade

OPEC got some great news lately, Chinese growth is cooling to a ‘cow like’ 8.2% rather than the bullish 8.5% analysts had previously expected for 2012. For oil fundamentals that’s pretty important: Brent has dropped to $112/b. Confused? Don’t be. OPEC would normally be more than happy to …

Jadwa: Inflation Report, April 2012

Year-on-year inflation dipped to 5.3 percent in April from 5.4 percent in March. Lower food price inflation was the main reason for the decline. Rental inflation picked up….

Saudi Petrochemical Makers’ Costs May Rise on Oil, Al Rajhi Says

Saudi private petrochemical makers may pay more for their feedstock due to high oil prices, Al Rajhi Capital, the investment arm of the kingdom’s biggest bank by market value, said. Saudi Arabian Oil Co., also known as Saudi Aramco, is allocating feedstock, mainly propane, to new petrochemical …

Kingdom Holding, STC in strategic alliance

Kingdom Holding Co, chaired by Prince Alwaleed bin Talal, has signed a major agreement with Saudi Telecom Company (STC) to provide telecom infrastructure for Kingdom Land, Riyadh. “This is a strategic alliance between Kingdom Holding and Saudi Telecom,” said Prince Alwaleed. The project …

Saudi agent in bomb plot held UK passport, source says

New details are emerging about the agent sent by Saudi counterterrorism agents into Yemen to track a plot by al Qaeda in the Arabian Peninsula to bomb a U.S.-bound airliner. The agent is of Arabic origin but holds a British passport, according to Mustafa Alani, director of security studies at …

Young Saudis, not expats, should invest in small businesses: Experts

Statistics and local economic reports, show that many micro-projects in Saudi Arabia, particularly small kiosks, generate a large annual income for their expat ‘owners’, in the absence of Saudi investors who do not realize their importance. Although the regulations do not allow foreigners to …

The Lessons of the Nakba

Israelis and Palestinians alike are two peoples who have experienced traumatic histories. We must never forget them. But we must not be held hostage by history either. We must care more about the future of our grandchildren than the past of our grandparents, or even ourselves. We must work …

Opinion: Israel transformed from democracy to an oligarchy

Since last week, Israel has been governed by an oligarchy. These are self-styled lords of the manor who have power over civil and military sectors, and share the spoils of rule between themselves. The subjects can talk, but have no influence. Israel has been transformed from the only democracy …

Afghan peace negotiator Arsala Rahmani shot dead

Arsala Rahmani was a key member of Afghanistan’s High Peace Council, which leads Afghan efforts to make peace with the Taliban. Correspondents say his death is a major blow to President Hamid Karzai as Mr Rahmani was key in reaching out to Taliban commanders. It also emerged Afghan forces …

U.S. Military Taught Officers: Use ‘Hiroshima’ Tactics for ‘Total War’ on Islam

The U.S. military taught its future leaders that a “total war” against the world’s 1.4 billion Muslims would be necessary to protect America from Islamic terrorists, according to documents obtained by Danger Room. Among the options considered for that conflict: using the lessons of “Hiroshima” …

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